DORAL PROPERTY definition

DORAL PROPERTY means collectively that certain property known as The Doral Golf Resort and Spa, located in Miami, Florida owned by CNL Resort Hotel, LP and that certain property known as the Silver Course, located in Miami-Dade County, Florida owned by CNL Resort Silver Properties, LP. DOWNGRADE shall have the meaning as set forth in Section 9.3(c) hereof. DSCR shall mean, with respect to a particular period, the ratio of Net Operating Income to the aggregate sum of Senior Loan Debt Service and Debt Service (First Mezzanine) in respect of such period, as computed by Mezzanine Lender from time to time pursuant to the terms hereof, based on, for the Mortgage Loan, actual debt service payable under such loan) per annum and, for the Mezzanine Loan, an assumed loan constant equal to the sum of the Maximum LIBOR Pay Rate (First Mezzanine) from time to time with respect to the Mezzanine Loan, and the LIBOR Margin (First Mezzanine) (which constant shall be calculated at all times using a 30/360 accrual convention). If no such period is specified, then the period shall be deemed to be the immediately preceding four (4) Fiscal Quarters.
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DORAL PROPERTY means collectively that certain property known as The Doral Golf Resort and Spa, located in Miami, Florida owned by CNL Resort Hotel, LP and that certain property known as the Silver Course, located in Miami-Dade County, Florida owned by CNL Resort Silver Properties, LP. DOWNGRADE shall have the meaning as set forth in Section 9.3(c) hereof. DSCR shall mean, with respect to a particular period, the ratio of Net Operating Income to the aggregate sum of Senior Loan Debt Service and Debt Service (Second Mezzanine) in respect of such period, as computed by Mezzanine Lender from time to time pursuant to the terms hereof, based on, for the Mortgage Loan, actual debt service payable under such loan) per annum and, for the Mezzanine Loan, an assumed loan constant equal to the sum of the Maximum LIBOR Pay Rate (Second Mezzanine) from time to time with respect to the Mezzanine Loan, and the LIBOR Margin (Second Mezzanine) (which constant shall be calculated at all times using a 30/360 accrual convention). If no such period is specified, then the period shall be deemed to be the immediately preceding four (4) Fiscal Quarters.
Sample 1
DORAL PROPERTY means collectively that certain property known as The Doral Golf Resort and Spa, located in Miami, Florida owned by CNL Resort Hotel, LP and that certain property known as the Silver Course, located in Miami-Dade County, Florida owned by CNL Resort Silver Properties, LP. DORAL SETTLEMENT AGREEMENT means that certain Stipulation for Settlement, dated Xxxxx, 0000, entered in the United States District Court in the Southern District of Florida, Miami, between the applicable Borrower and Association for Disabled Americans, Inc., Xxxxxx Xxxx and Xxxxx Xxxx Xxxxxxxxx.
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More Definitions of DORAL PROPERTY

DORAL PROPERTY means collectively the Doral Real Property and the Doral Personal Property.
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Related to DORAL PROPERTY

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

  • Adjoining Property means all sidewalks, driveways, curbs, gores and vault spaces adjoining any of the Leased Premises.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • 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.

  • hazardous properties means radioactive, toxic or explosive properties.

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Commercial property means property formerly or currently used primarily for business, retail, governmental or professional purposes.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

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  • Agricultural property means property that is used primarily for agricultural purposes but, without derogating from section 9 of the Act, excludes any portion thereof that is used commercially for the hospitality of guests, and excludes the use of the property for the purpose of eco-tourism or for the trading in or hunting of game;

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • 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.

  • Residential property means improved property that:-

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

  • 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.

  • 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.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • 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.

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

  • Release Property has the meaning set forth in Section 2.5.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • 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.

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

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Owned Real Property has the meaning set forth in Section 4.10(a).