Development Debt definition

Development Debt of any Person means Debt of such Person or any mortgages, indentures, instruments or agreements under which there may be issued or existing or by which there may be secured or evidenced any Debt of such Person Incurred for the purpose of financing all or any part of the cost of acquiring, developing, constructing or improving, real or personal property that is owned or that immediately after the Incurrence of such Debt, will be owned, by such Person; provided that (a) the principal amount of any such Debt does not exceed 100% of the cost of such acquisition, development, construction or improvement plus expenses incurred in connection with the Incurrence of such Debt, (b) such cost will be included in "Total Real Estate" on the consolidated balance sheet of such Person, and (c) if such Debt is secured by a Lien, then (i) such Lien attached to such real or personal property prior to, at the time of, or within 180 days after the acquisition of or the completion of developing, constructing or improving of such property, and (ii) such Lien does not extend to or cover any property other than the specific item of such property (or portion thereof), acquired, developed, constructed, or constituting the improvements made with the proceeds of such Debt, except in the case of Common Development, in which case such Lien may extend to any other property included within the Common Development.
Sample 1Sample 2Sample 3
Development Debt means Indebtedness of a Subsidiary that is a special purpose entity relating to a development project in respect of which interest is being capitalized in accordance with GAAP, provided that such Indebtedness is not recourse to the Loan Parties, and provided further that such Indebtedness shall cease to constitute Development Debt on the date on which interest with respect to such Indebtedness is not required to be capitalized in accordance with GAAP.
Sample 1Sample 2
Development Debt means up to $500 million of Indebtedness used to finance expansion capital expenditures, joint ventures, development projects and casinos and “racinos” where the Borrower or its Restricted Subsidiaries have a management agreement; provided, that (A) the completion thereof is being diligently pursued and construction has not ceased for a period of 90 consecutive days (other than as a result of a force majeure event or inability to obtain requisite governmental authorizations, so long as such governmental authorizations are being diligently pursued) and (B) no such Indebtedness shall constitute Development Debt from and after the end of the first full fiscal quarter after the earlier of (x) opening for business, and (y) completion of construction of the applicable expansion capital expenditure, joint venture or development project.
Sample 1Sample 2

Examples of Development Debt in a sentence

  • The County maintains separate Economic Development, Debt Service, Employee Benefits, a Home Program, Cooperative Extension, Sheriff’s Special Accounts, Workers’ Compensation, Sheriffs Narcotic, Public Assistance, and Register of Deeds Automation funds for accounting purposes.

  • My understanding is that DHHS was speaking to the Workforce Development Debt Relief Program beginning on page 70.

  • Upon final drawdown of the Loan Notes and Development Debt (each as defined below), Decklar intends to fast-track the initial development on the Oza Oil Field including a re-entry on the existing Oza-1 well, anticipated to test three oil bearing zones and place the well into production from two of the three zones tested.

  • Schuerch, Deputy Assistant Secretary, International Development, Debt and Environmental Policy, Department of the Treasury; Carl Leonard, Assistant Adminis- trator, Bureau for Latin America and the Caribbean, Agency for International Development; Sylvia Saborio, Senior Fellow, Overseas Development Council; and Colin Bradford, Ph.D., Professor of Economics and International Relations, The Amer- ican University.

  • There were other funds that were excluded from the survey because funds’ part of total assets dedicated to investment in microfinance was very small, e.g. 10% in case of excluded AXA World Funds Development Debt, and therefore the performance of such a fund could not be taken as representative of truly microfinance funds that place much greater part of as- sets in microfinance.

  • The District funds include, but are not limited to: General, Capital Facilities, Special Reserve, Child Development, Debt Service, Self- Insurance, Food Services, and the State School Building Fund.

  • Buyers acknowledge that the Company is indebted to PJI in the approximate principal amount of $2,500,000 with respect to loans and credit extended to the Company by PJI for start-up, instruction and operating expenses of the Company (the "Development Debt"), and that payment of the Development Debt is guaranteed by certain of the Members.

  • In addition, at Closing MAALP shall repay in full the Prepaid Mortgage Debt, Construction and Development Debt, and Credit Line Debt, and, to the extent required by the terms of the specific notes, agreements and other documents evidencing the Retained Mortgage Debt in connection with the transfer of interests in the Property Partnerships that are obligors on such Retained Mortgage Debt, MAALP shall assume the Retained Mortgage Debt.

  • The Department is working to achieve this goal by continuing to provide financial support to municipalities through programs such as Municipal Operating Grants, Infrastructure Development, Debt Relief and Special Assistance.

  • Promptly upon the execution hereof, Buyers shall take all necessary steps to cause the Company to pay to PJI the entire outstanding amount (including accrued and unpaid interest thereon) of the Development Debt and to release the Members from their guarantee of the Development Debt.


More Definitions of Development Debt

Development Debt of any Person means Debt of such Person or any mortgages, indentures, instruments or agreements under which there may be issued or existing or by which there may be secured or evidenced any Debt of such Person Incurred for the purpose of financing all or any part of the cost of acquiring, developing, constructing or improving, real or personal property that is owned or that immediately after the Incurrence of such Debt, will be owned, by such Person; provided that (a) the principal amount of any such Debt does not exceed 100% of the cost of such acquisition, development, construction or improvement, plus expenses Incurred in connection with the Incurrence of such Debt, (b) such cost will be included in "Total Real Estate" on the consolidated balance sheet of such Person and (c) if such Debt is secured by a Lien, then (i) such Lien, attached to such real or personal property prior to, at the time of, or within 180 days after the acquisition of or the completion of developing, constructing or improving of such property and (ii) such Lien does not extend to or cover any property other than the specific item of such property (or portion thereof), acquired, developed, constructed, or constituting the improvements made with the proceeds of such Debt, except in the case of Common Development, in which case such Lien may extend to any other property included within the Common Development.
Sample 1
Development Debt means, in respect of the Undertaking Parties, at any time, without double counting and determined on a consolidated basis with respect to the Undertaking Parties and all of their respective Subsidiaries, the aggregate of the amounts referred to in paragraphs (a) to (h) (inclusive) of the definition of “Consolidated Total Borrowings”, to the extent that such amounts are invested in any Qualifying Investment;
Sample 1
Development Debt means debt evidenced by that certain Second Amended and Restated Credit Agreement (Development Loan) dated December 1, 2010 in a principal amount not to be increased, exclusive of any interest accrued and capitalized pursuant to the terms thereof.
Sample 1

Related to Development Debt

  • Development Site means any parcel or lot on which exists or which is intended for building development other than the following:

  • Development Activities means those activities which are normally undertaken for the development, construction, repair, renovation, rehabilitation or conversion of buildings for residential purposes, including the acquisition of property;

  • Development Project means a project for the development of land within a project area.

  • Development Phase means the period before a vehicle type is type approved.

  • Research Project means a discrete scientific endeavor to answer a research question or a set of research questions related to medical marijuana and is required for a medical marijuana research license.

  • Commercialization Costs means the out-of-pocket costs and expenses incurred by Adapt or its Affiliates directly attributable to, or reasonably allocable to, the Commercialization of a Product. Commercialization Costs for a Product shall include, preparation of promotional, advertising, communication, medical, and educational materials relating to the Product and other Product literature and selling materials, activities directed to marketing of the Product, including purchase of market data, development and conduct of market research, advertising, public relations, public affairs and other communications with Third Parties regarding the Product; development and conduct of sales force training (including materials, programs and travel to and attendance at training programs) for medical representatives responsible for promoting the Product; and development and maintenance of sales bulletins, call reporting and other monitoring/tracking, sales force targeting, validation and alignment programs and documentation.

  • Design Development Documents means the Drawings, Specifications and other documents prepared by the Trade Contractor that establish and describe the size and character of the Trade Contractor Work as to architectural, civil, structural, mechanical and electrical systems, graphics and signage, and other elements, and which include typical construction details, equipment layouts and specifications that identify major materials and systems.

  • Development Activity means any activity defined as Development which will necessitate a Floodplain Development Permit. This includes buildings, structures, and non-structural items, including (but not limited to) fill, bulkheads, piers, pools, docks, landings, ramps, and erosion control/stabilization measures.

  • Development Data means all non-clinical, clinical, technical, chemical, safety, and scientific data and information and other results, including relevant laboratory notebook information, screening data, and synthesis schemes, including descriptions in any form, data and other information, in each case, that is generated by or resulting from or in connection with the conduct of Development of Products.

  • Projects means the projects identified in Exhibit A to the Agreement and all other projects, any costs of which are included in a Transitional Capital Plan pursuant to the Act or are Recovery Costs, and financed, by payment or reimbursement, with the proceeds of Bonds or Notes.

  • Research facility means buildings and structures, including machinery and equipment, used or to be used primarily for research or experimentation to improve or develop new tangible goods or materials or to improve or develop the production processes thereto.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Manufacturing Facilities means facilities engaged in the mechanical or chemical transformation of materials or substances into new products and shall include:

  • Development Permit means a document authorizing a development issued pursuant to this Land Use Bylaw;

  • Development means any man-made change to improved or unimproved real estate, including, but not limited to, buildings or other structures, mining, dredging, filling, grading, paving, excavation or drilling operations, or storage of equipment or materials.

  • Development Program means the implementation of the development plan.

  • 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.

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Least developed country construction material means a construction material that—

  • Development Work means any work carried out in relation to the physical construction of a mine;

  • Manufacturing Facility means buildings and structures, including machinery and equipment, the primary purpose of which is or will be the manufacture of tangible goods or materials or the processing of such goods or materials by physical or chemical change.

  • Development Application means the development application identified in Item 5 of Schedule 1 and includes all plans, reports models, photomontages, material boards (as amended supplemented) submitted to the consent authority before the determination of that Development Application.

  • Developed Land means all Developable Land of the Company and its Restricted Subsidiaries which is undergoing active development or is ready for vertical construction.

  • Project Engineer means the surveyor or engineer employed by or private

  • Project Plan means the document to be developed by the Contractor and approved by WTL, based on the requirements of the Contract and the Preliminary Project Plan included in the Contractor’s bid. For the sake of clarity, the Agreed and Finalised Project Plan” refers to the version of the Project Plan submitted by the contractor after receiving the letter of Award and the same approved by WTL. The project plan may be changed/ modified during the course of the project. Should the Project Plan conflict with the provisions of the Contract in any way, the relevant provisions of the Contract, including any amendments, shall prevail.

  • Collaborative drug therapy management means participation by an authorized pharmacist and a physician in the management of drug therapy pursuant to a written community practice protocol or a written hospital practice protocol.