Excess Real Property definition

Excess Real Property means unimproved parcels which constitute part of any Mortgaged Property and are not then currently used or contemplated (except with respect to lodging) to be used in connection with the operation of such Mortgaged Property as a ski resort as then configured, including lodging, other recreational uses and related amenities.

Excess Real Property means Borrower’s or its Subsidiaries’ (a) facilities owned in fee and located at 0000 Xxxx Xxxxxx, Xxxxxx Xxxxx, Santa Ana, CA, 31901 Xxxxxx Xxxx, Salisbury, MD, and Xxxxxxx 0, 00000, Xxxxxxx, Xxxxxxx, and (ii) real property owned in fee and located at #5 West Road, Special Export Processing Zone, Light Industry and Science Park, Cabuyao, Laguna, Philippines, and 14 and 00 Xxxxxx Xxxxxx, XXX0, Light Industry and Science Park of the Philippines I, Cabuyao, Laguna, Philippines.

Excess Real Property means unimproved parcels of real property owned by the Borrowers which are not then used or contemplated to be used in connection with the ski or golf operations of the Borrowers.

Examples of Excess Real Property in a sentence

• Any delay or failure by Landlord in delivering any estimate or statement pursuant to this Section 7.1 shall not constitute a waiver of its right to require Tenant to pay Tenant’s Share of Excess Project Costs and Excess Real Property Taxes pursuant hereto.

• Landlord shall keep or cause to be kept separate and complete books of accounting covering all Operating Expenses and showing the method of calculating Tenant’s Share of Excess Project Costs and Excess Real Property Taxes, and shall preserve for at least two (2) years after the close of each fiscal year all material documents evidencing said Operating Expenses for that fiscal year.

• Prior to the Commencement Date and thereafter prior to the commencement of each of Landlord’s fiscal years during the Term, Landlord shall give Tenant a written estimate of Tenant’s Share of Excess Project Costs and Excess Real Property Taxes for the ensuing fiscal year or partial fiscal year, as the case may be.

• If one or more parcels of real property constitute Excess Real Property, the Administrative Agent shall be entitled to elect the parcel having the higher value to become subject to a mortgage as provided above.

• If Tenant’s estimated payments are less than Tenant’s Share of actual Operating Excess Project Costs and Excess Real Property Taxes as shown by the applicable Annual Statement, Tenant shall pay the difference to Landlord within thirty (30) days thereafter.

More Definitions of Excess Real Property

Excess Real Property means any real property under the control of the Department that is not required for its mission and the discharge of its responsibilities as determined by the OPPM or agency, as applicable. No agency, as determined by OPPM, has a mission need for the property.

Excess Real Property has the meaning ascribed to it in Section 7.15(h).

Excess Real Property has the meaning specified in Section 2.2.3.

Excess Real Property means the Real Property listed on Schedule 1.01(c).

Excess Real Property. Permitted Priority Liens," and "Upfront Fee Letter," and (b) adding the following new definitions in alphabetical order:

Excess Real Property means any real property under the control of the Department that is not required for its mission and the discharge of its responsibilities as determined by the OPPM or agency as applicable. It means that no agency of the Department requires the property.

Excess Real Property means unimproved parcels which constitute part of any Mortgaged Property and are not then currently used or contemplated (except with respect to lodging and related infrastructure) to be used in connection with the operation of such Mortgaged Property as a ski resort as then configured, including lodging, other recreational uses and related amenities.