Converted Property definition

Converted Property means, as of any date of determination, any Property that was a Non-Stabilized Property at the time such Property became a Financed Property and that is a Stabilized Property on such date of determination. For the avoidance of doubt, no Property that was at any point in time a Carry-Over Property may constitute a Converted Property unless otherwise approved in writing by the Administrative Agent in its sole discretion.
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Converted Property means each Eligible Property Under Contract in which, on or before the Closing, Optionor has acquired and owns a fee simple interest therein.
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Examples of Converted Property in a sentence

  • Within five (5) Business Days after Optionee’s receipt of a Notice of Acquisition, the parties hereto shall deliver, with respect to the applicable Converted Property, (x) a fully executed and notarized original Memorandum of Option and (y) a fully executed an notarized original Termination of Option.

  • From and after the Option Acceptance Date, at such time as a Property Under Contract becomes a Converted Property, Optionee shall deposit with Escrow Holder the Project Second Option Payment for such Converted Property in immediately available funds, and such Project Second Option Payment shall thereafter be treated as part of the Second Option Payment.

  • From and after the Option Acceptance Date, promptly upon receipt of the Memorandum of Option and Termination of Option with respect to a Converted Property, Escrow Holder shall (x) at Optionee’s request, cause such Memorandum of Option to be recorded in the applicable county real property official records, and deliver conformed copies thereof to the parties hereto, and (y) cause Title Company to issue an Optionee Policy for such Converted Property.

  • As a result, some units in the Converted Property may not be eligible for Rehab Assistance Payments.Following the earlier of the end of the construction period identified in the HUD- approved Financing Plan or actual construction, the PHA will no longer be eligible to receive RAD Rehab Assistance Payments, and all units under contract will be eligible for payment only for occupied units or for vacancy payments, as applicable.

  • The Administrative Agent shall, from time to time upon satisfaction by the Loan Parties of each of the Converted Property Reserve Release Conditions (or at the time provided in Section 6.11(g)), instruct the Paying Agent in writing, as applicable, to remit to the Borrower Representative the Renovation Reserves with respect to any Converted Properties, to the extent any Renovation Reserves have been funded in cash and are held in the Renovation Reserves Account, from the Renovation Reserves Account.

  • REV-2 Rental Assistance Demonstration – Final Implementation 51 subsidy prior to conversion (which is typically associated with the occupied units).[1] As a result, some units in the Converted Property may not be eligible for Rehab Assistance Payments.

  • The portions of the Trails that will be converted are referred to collectively as the “Section 6(f) Converted Property.” The Section 6(f) Converted Property is defined in Section 3.1.4 of this MOA and illustrated in Exhibit A.

  • As a result, some units in the Converted Property may not be eligible for Rehab Assistance Payments.Following the earlier of the end of the construction period identified in the HUD-approved Financing Plan or actual construction, the PHA will no longer be eligible to receive RAD Rehab Assistance Payments, and all units under contract will be eligible for payment only for occupied units or for vacancy payments, as applicable.

  • Therefore, the FAR requirements of the non-manufacturer rule will continue to apply to SDVOSB/VOSB procurements under this authority.

  • Once all such claims made by a Buyer Indemnitee prior to the expiration of the Initial Survival Period have been satisfied or otherwise resolved, the Escrow Agent shall promptly deliver all remaining Escrow Shares or Converted Property, if any, to Seller.

Related to Converted Property

  • Blighted property means property that meets any of the following criteria:

  • Affected Property means all real property at the Site and any other real property where EPA determines, at any time, that access or, land, water, or other resource use restrictions, and/or Institutional Controls are needed to implement the removal action, including, but not limited to, the following properties [insert property descriptions].

  • Restricted Property means (a) any property of the Company located within the United States of America that, in the opinion of the Company’s board of directors, is a principal manufacturing property or (b) any shares of capital stock or Debt of any Subsidiary owning any such property.

  • Protected Property means each property identified on Exhibit A hereto and each property acquired in Exchange for a Protected Property as set forth in Section 2.1(b).

  • Distributed Property shall have the meaning specified in Section 14.04(c).

  • Excepted Property The meaning assigned in the Granting Clauses hereof.

  • 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.

  • New property means (i) the assessed value, after final

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

  • Excluded Property shall have the meaning set forth in the Security Agreement.

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

  • Acquired Property shall have the meaning set forth in Section 5.11(c)(i)(A) hereof.

  • 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.

  • After-Acquired Property means any property (other than Collateral or Excluded Property) that is acquired or otherwise owned by the Company or any Subsidiary after the Issue Date of a type that secures the Secured Obligations.

  • Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

  • Exchange Property has the meaning set forth in Section 11(a).

  • 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.

  • 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.

  • Specified Property means property for which an election has been made for a special elective benefit.

  • 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.

  • Related Property means a parcel of real property, together with improvements thereon and personal property related thereto, that is “related” within the meaning of the definition of Significant Obligor, to the Property.

  • 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.

  • Affected land means the area of land from which overburden has been removed or upon which overburden has been deposited, or land which has otherwise been disturbed, changed, influenced, or altered in any way in the course of mining, including processing and stockpile areas but not including roads.

  • Adjacent Property means all land adjoining and surrounding the Stadium Site on which will be located any public streets, sidewalks, plazas, or bridges and any public or private parking facilities or other accoutrements to be developed by Authority or other parties in connection with the Project.

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

  • Adjusted Property means any property the Carrying Value of which has been adjusted pursuant to Section 5.5(d)(i) or 5.5(d)(ii).