Construction Properties definition

Construction Properties. Properties that (a) are subject to ground up construction of new improvements, involving, without limitation, new foundations, new structural steel or wood frame, and new mechanical, electrical and plumbing systems and (b) secure a future advance loan or Revolving Loan, and which either (x) the related future funding obligation represented more than 30% of the total committed amount of the underlying loan as of the date the Seller acquired such future advance loan or Revolving Loan or (y) the related future funding obligation represented more than 40% of the total committed amount of the underlying loan as of the date of origination of such future advance loan or Revolving Loan.
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Construction Properties means those Company Properties that are under construction and not yet part of the Collateral Pool (as that term is defined in the Credit Facility) at the time that CalEast makes a Capital Contribution pursuant to Section 3.4(E) hereof.
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Construction Properties means each of (1) Village at Temple, the property owned by ACT-Village at Temple, LLC (“ACT Temple”), (2) Village at Fresno State, the property owned by ACT-Village at Fresno State, LLC (“ACT Fresno”) and (3) Village at CSU, the property owned by ACT-Village at CSU, LLC (“ACT CSU”); the term “Completion Funds” means the difference between (1) the aggregate amount of the original development budgets for the Construction Properties approved by American-Campus Titan LLC and American Campus-Titan II LLC that have not been paid to date and (2) the Escrowed Funds; the term “Escrowed Funds” means $824,011 as of the Closing, together with any amounts to be deposited by the Company with Escrow Agent (hereinafter defined) as and when received from Apex Construction Company with respect the Construction Properties owned by ACT Fresno and ACT CSU (estimated as of today to be approximately $400,000), representing the aggregate estimated amount of savings with respect to the Construction Properties; and the term “Escrow Agent” shall mean LandAmerica Title Insurance Company.
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Examples of Construction Properties in a sentence

  • The Company and Sponsors shall cooperate, and use commercially reasonable efforts to collect, as promptly as possible following the date hereof, the balance of the insurance proceeds claimed by ACT Fresno in connection with the fire that occurred at its Construction Properties in 2003 (the “Fresno Fire”).

  • Notwithstanding anything to the contrary contained in this Agreement, the Partnership and the Company recognize that the two properties listed in SCHEDULE 1.2 to this Agreement as Property No. 5 and Property No. 6 (collectively, the "Under Construction Properties") are presently being improved pursuant to the construction contracts listed on EXHIBIT 2.11(a) hereto and the plans and specifications listed on EXHIBIT 2.11(b) hereto.

  • If there is no Accumulation Value in the Separate Account, the addition will be allocated to the Liquid Assets division, or its successor.

  • The following presentation reflects the Company's expected acquisition of three properties currently under construction (the "Construction Properties"), all of which are expected to be substantially complete in 1997, subsequent to the closing of the GPI merger, for an aggregate cost of approximately $31,657, consisting of approximately $28,508 in cash and $3,149 in shares.

  • The Borrower will only use the proceeds of Construction Advances to finance acquisition costs, pre-development and development costs incurred in connection with Construction Properties, in each case, as set forth in the Cost Breakdown for the applicable Construction Property.

  • All such Unencumbered Properties and Unencumbered Construction Properties satisfy the requirements for an Unencumbered Property or Unencumbered Construction Property, as applicable, set forth in the definition thereof.

  • The Construction Agent or any Person designated by it may, within five (5) Business Days of receipt of notice of the occurrence of such Construction Agency Agreement Event of Default, purchase all but not less than all of such Construction Properties for the aggregate Lease Balance with respect to such Properties.

  • As of August 13, 2004, set forth on Schedule 3.14 is (a) a list of all Properties (with street address, county and state where located) and the owner of such Property and (b) a list of all Unencumbered Properties and all Unencumbered Construction Properties.

  • Upon the occurrence of a Default, Lender may, upon five (5) days prior written notice to Borrowers, and with or without legal process, take possession of the Construction Properties, remove Borrowers and all agents, employees and contractors of Borrower from the Construction Properties, complete the work of construction and market, operate and sell or lease the Construction Properties.

  • Upon any such termination, the Construction Agent shall immediately pay to the Lessor, as and for liquidated damages, an amount equal to the Lease Balance as of the date of such payment for all Construction Properties for which the Lease Term has not commenced (whereupon the Lessor shall convey title to such Properties to the Construction Agent or its designee in accordance with ARTICLES XXII and XXV of the Lease).


More Definitions of Construction Properties

Construction Properties means, collectively, the Bluegrass Valley II Property and the Lehigh Valley II Property. “Contractor” - means a contractor, acceptable to Lender, who will construct all or any portion of the Tenant Improvements.
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Construction Properties means, unless the Issuer receives a confirmation from Moody’s indicating otherwise, properties that are both (a) subject to ground up construction of new improvements, involving, without limitation, new foundations, new structural steel or wood frame, and new mechanical, electrical and plumbing systems and (b) that secure a Related Future Advance Loan or a Delayed Draw Term Loan and which either (1) the related future funding obligation represented more than 35% of the total committed amount of the underlying loan as of the date the Issuer acquired such Related Future Advance Loan or Delayed Draw Term Loan or (2) the related future funding obligation represented more than 40% of the total committed amount of the underlying loan as of the date of origination of such Related Future Advance Loan or Delayed Draw Term Loan;
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Construction Properties means (a) Hotel Properties under ----------------------- construction, (b) newly acquired Hotel Properties which require and are undergoing substantial refurbishment and which are not open for business and (c) vacant land.
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Construction Properties means, unless the Issuer receives a confirmation from Moody’s indicating otherwise, properties that are both (1) subject to ground up construction of new improvements, involving, without limitation, new foundations, new structural steel or wood frame, and new mechanical, electrical and plumbing systems and (2) that secure a Future Advance Loan or Revolving Loan and which either (a) the related future funding obligation represented more than 30% of the total committed amount of the underlying loan as of the date the Issuer acquired such Future Advance Loan or Revolving Loan or (b) the related future funding obligation represented more than 40% of the total committed amount of the underlying loan as of the date of origination of such Future Advance Loan or Revolving Loan; and
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Construction Properties means the Reston property identified on Exhibit A-20, and the Xxxxxxxxxx property identified on Exhibit A-21.
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Construction Properties means each Property that has not achieved Construction Completion.
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Related to Construction Properties

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

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • 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.

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

  • 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.

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

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Project Land means any parcel or parcels of land on which the project is developed and constructed by a promoter;

  • Construction Plans means plans, drawings, specifications and related documents, and construction schedules for the construction of the Project, together with all supplements, amendments or corrections, submitted by the Developer and approved by the City in accordance with this Agreement.

  • Project Assets means all physical and other assets relating to and forming part of the Site including:

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Construction Works means all works and things necessary to complete the Project in accordance with this Agreement;

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Environmental Infrastructure Facilities means Wastewater Treatment Facilities, Stormwater Management Facilities or Water Supply Facilities (as such terms are defined in the Regulations).

  • Expansion Project has the meaning set forth in Section IV.3.a of this Agreement.

  • Condominium Project Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Project Site(s) means the place(s) specified in the SCC for the supply and installation of the System.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties (including the Borrowing Base Properties) owned or leased by the Consolidated Parties at such time.

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

  • Hotel Property means a Property on which there is located an operating hotel.

  • Construction Work means any work in connection with⎯

  • Construction Contracts means the contracts between Lessee and Contractors for the furnishing of labor, services or materials to the Leased Premises in connection with the construction of the Improvements.

  • Environmental Problem Property A Mortgaged Property or REO Property that is in violation of any environmental law, rule or regulation.