Conformed Property definition

Conformed Property means, as of any date of determination, any Property that (i) was a Non-Conforming Property at the time such Property became a Financed Property and that is an Eligible Property on such date of determination and (ii) in respect of which the Diligence Agent has completed its due diligence review, including confirmation by the Diligence Agent that it has reviewed the documentation required to be included in the Property File that is specified in items 3 through 5 of Schedule I-A and determined that the Eligible Property criteria set forth in items 1 and 2 of Schedule I-A have been satisfied with respect to each such Property.
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Conformed Property means, as of any date of determination, any Property that was an Exception Property at the time such Property became a Financed Property and that is not an Exception Property on such date of determination.
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Examples of Conformed Property in a sentence

  • If, after giving effect to such an adjustment the Funded Renovation Reserves in respect of any Conformed Property represent less than the Funded Renovation Reserves Percentage of the adjusted Renovation Reserves, no later than the tenth (10th) Business Day following delivery of such updated Proposed Scheduled Renovation Work, an amount equal to such deficiency shall be deposited by Borrowers with the Paying Agent for transfer to the Renovation Reserves Account.

  • If, after giving effect to such an adjustment, the Funded Renovation Reserves in respect of any Conformed Property represent more than the Funded Renovation Reserves Percentage of the Renovation Reserves for such Property, the Paying Agent shall disburse such excess from the Renovation Reserves Account to the Borrower Representative (as directed in writing by the Administrative Agent pursuant to Section 6.13(c).

  • Such updated Scheduled Renovation Work shall be used to adjust the amount of the Renovation Reserves for such Conformed Property (which shall be an amount equal to 110% of the updated Scheduled Renovation Work).

  • If such Proposed Scheduled Renovation Work shall exceed the Scheduled Renovation Work for such Conformed Property determined pursuant to Section 6.02(a), such Proposed Scheduled Renovation Work shall thereafter constitute the updated Scheduled Renovation Work for such Conformed Property.

  • In the case of any Financed Property initially funded as a Non-Conforming Property, upon such Property becoming a Conformed Property that is a Non-Stabilized Property, the Loan Parties shall submit an updated Proposed Scheduled Renovation Work for such Property.

Related to Conformed Property

  • Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.

  • Improved Property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • Transferred Property shall have the meaning specified in Section 2.1(a) hereof.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Covered Property is the address stated on your Agreement Coverage Summary Page. • “Domestic-grade” Items are those that were designated by the manufacturer, manufactured and marketed solely for installation and use in a residential single family dwelling.

  • Released Property shall have the meaning set forth in Section 2.10 hereof.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.11(c).

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Acquired Property shall have the meaning set forth in Section 5.1.10(h)(i) hereof.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • Closing Date Mortgaged Property as defined in Section 3.1(i).

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Development Property means a Property currently under development for use as an office or industrial building that has not become a Stabilized Property, or on which the improvements (other than tenant improvements on unoccupied space) related to the development have not been completed, provided that such a Development Property on which all improvements (other than tenant improvements on unoccupied space) related to the development of such Property have been completed for at least twelve (12) months shall cease to constitute a Development Property notwithstanding the fact that such Property has not become a Stabilized Property.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Licensed Property means the portion of the Software and the Documentation to which Customer has purchased a License as identified on an applicable Order. Licensed Property shall include any updates or upgrades to the Licensed Property that AvePoint may at its discretion deliver to Customer.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Contributed Property means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.5(d), such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Transition Property means the property right created by a financing order, including without

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.