Construction Period Property definition

Construction Period Property means, at any date of determination, any Property as to which the Rent Commencement Date has not occurred on or prior to such date.
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Construction Period Property means, at any date of determination, any Property (excluding any Store Land Property) as to which the Construction Period has begun but not ended.
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Construction Period Property means the Property prior to the Completion Date.
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Examples of Construction Period Property in a sentence

  • The limitations imposed pursuant to this Section 5.13 shall also apply with respect to any purchase by the Lessee (or its designee) of the Property while the Property is a Construction Period Property pursuant to Section 17.10 of the Lease or pursuant to the Agency Agreement.

  • The Lessee (or its designee) may purchase the Property from time to time pursuant to the Purchase Option in the Lease to the extent the Lessee (or its designee) pays the Termination Value; provided, that, notwithstanding the foregoing, Lessee may not exercise the Purchase Option to purchase the Property as a Lessee selected cure to an Event of Default while the Property is a Construction Period Property or as a voluntary election by the Lessee while the Property is a Construction Period Property.

  • Notwithstanding any other provision in any other Operative Agreement to the contrary, all amounts so advanced shall be added to the Property Cost for the Construction Period Property.

  • If the Construction Agent is not required to pay such liquidated damages, it shall promptly and diligently complete the development, acquisition, refinancing, installation, construction and testing of such Construction Period Property in accordance with the Plans and Specifications and with the terms hereof and cause the Completion Date with respect to such Construction Period Property to occur on or prior to the Construction Period Termination Date.

  • If with respect to any of the Properties so sold, Advances were used to pay for Excluded Costs while any such Property was a Construction Period Property, then Section 8.7(b)(viii) shall apply.

  • Lessee hereby irrevocably appoints Lessor as Lessee's attorney-in-fact, with power of substitution, in the name of Lessor or the name of Lessee or otherwise, to execute any Lease Supplement which Lessee fails or refuses to sign in accordance with the terms of this Section 2.4 (including without limitation any Lease Supplement required in connection with any Construction Period Property upon the occurrence of an Agency Agreement Event of Default).

  • At the cost and expense of the Construction Agent, the Lessor shall convey such Construction Period Property "AS-IS, WHERE-IS" and in its then present physical condition to the Construction Agent or its designee free and clear of Lessor Liens.

  • Solely with respect to each Construction Period Property which is subject to a Ground Lease, amounts to be paid as scheduled rental payments thereunder may be funded with Advances to the extent the terms and conditions of the Operative Agreements applicable to Advances have been satisfied or waived pursuant to the terms therein (including without limitation the conditions precedent contained in Sections 5.3 and 5.4).

  • Until termination of the Lease Agreement and the Agency Agreement, the Construction Agent shall promptly and diligently complete the development, acquisition, refinancing, installation, construction and testing of each Construction Period Property substantially in accordance with the Plans and Specifications and with the terms hereof and cause the Completion Date with respect to each Construction Period Property to occur on or prior to the Construction Period Termination Date.

  • Subject to the terms and conditions of this Agreement and the other Operative Agreements, during the Construction Period, the Construction Agent shall have sole management responsibility for the benefit of the Lessor over, and responsibility for, the construction, means, methods, sequences and procedures with respect to the Construction Period Property.


More Definitions of Construction Period Property

Construction Period Property shall have the meaning given to such term in Section 5.3(b) of the Agency Agreement.
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Construction Period Property shall have the meaning specified in Section 1.1 of the Credit Agreement.
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Construction Period Property means, at any date of determination, any Land and the Improvements being constructed thereon during the Construction Period.
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Construction Period Property means the Property if, at any date of determination, the Rent Commencement Date has not occurred on or prior to such date. “Construction Period Termination Date” shall mean (a) the earlier of (i) the date that the Lessor Parties Commitment has been terminated in its entirety in accordance with the terms of the Participation Agreement, or (ii) the date that is eighteen (18) months after the Initial Closing Date or in the event that a Force Majeure Event occurs with respect to the Property during such eighteen (18) month period, then the date that is up to three (3) months after such eighteen (18) month period as determined in a manner consistent with Section 3.3 of the Agency Agreement or (b) such later date as shall be agreed to by each Lessor Party, in its sole discretion. “Contamination” shall mean the presence or release or threat of release of Regulated Substances in, on, under or emanating to or from any Credit Party Property which pursuant to Environmental Laws requires notification or reporting to an Official Body, or which pursuant to Environmental Laws requires the investigation, cleanup, removal, remediation, containment, abatement of or other response action or which otherwise constitutes a violation of Environmental Laws. “Contractor” shall mean each entity with whom the Construction Agent or the Lessee contracts to construct any Improvements or any portion thereof on the Property. “Controlled Group” shall mean all members of a controlled group of corporations and all trades or businesses (whether or not incorporated) under common control which, together with the Lessee, are treated as a single employer under Section 414 of the Code. “Corresponding Tenor” shall mean with respect to a Benchmark Replacement, an approximately one-month tenor (including overnight) (disregarding Business Day adjustment). “Covered Entity” shall mean (a) each Identified Big Lots Entity, each of Identified Big Lots Entity’s Subsidiaries, Lessee, Lessee’s Subsidiaries, all Guarantors and (b) each Person that, directly or indirectly, is in control of a Person described in clause (a) above. For purposes of this definition, control of a Person shall mean the direct or indirect (x) ownership of, or power to vote, twenty five percent (25%) or more of the issued and outstanding equity interests having ordinary voting power for the election of directors of such Person or other Persons performing similar functions for such Person, or (y) power to direct or cause the direction o...
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Related to Construction Period Property

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Construction Commencement Date means the date set out in the Addendum, if applicable, by which you must commence construction of the Hotel. For the Hotel to be considered under construction, youmust have begun to pour concrete foundations for the Hotel or otherwise satisfied any site-specific criteria for “under construction” set out in the Addendum.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Construction Completion means physical construction of a cleanup action component is complete.

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Construction Work means any work in connection with⎯

  • Project Completion means completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Morley Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Substitute Improvements means the substitute or additional improvements of the Issuer described in Article V hereof.

  • 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.

  • construction site means a workplace where construction work is being performed;

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Tenant Improvements Defined in Exhibit B, if any.

  • Improvement completion assurance means a surety bond, letter of credit,

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);

  • Final Completion Date means the date on which Final Completion occurs.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Construction in Progress means each Property that is either (a) new ground up construction or (b) under renovation in which (i) greater than thirty percent (30%) of the square footage of such Property is unavailable for occupancy due to renovation and (ii) no rents are being paid on such square footage. A Property will cease to be classified as “Construction in Progress” on the earlier to occur of (A) the time that such Property has an Occupancy Rate of greater than eighty percent (80%), or (B) one hundred eighty (180) days after completion of construction or renovation of such Property, as applicable.

  • construction work permit means a document issued in terms of regulation 3; "contractor" means an employer who performs construction work;