Financed Property definition

Financed Property means any property financed in whole or in part by any allocation of Commission Bond Proceeds.

Financed Property means the property financed by the NVTA Bond Proceeds. "General Public Use" means use of Financed Property by a Nongovernmental Person as a

Financed Property. Each Eligible Property owned by a Borrower and which has (i) satisfied the requirements for inclusion in the Facility as a Financed Property pursuant to Sections 2.2(a) and (b) and (ii) not been released as a Financed Property pursuant to Section 2.7(a) or (d).

Examples of Financed Property in a sentence

• Such books and records shall include, without limitation, records adequate to permit the identification of each Financed Property and all Collections relating thereto.

• The Borrowers shall warrant and defend (a) the title to each Financed Property and every part thereof, subject only to Permitted Liens and (b) the validity and priority of the Liens of any Mortgage Document, as applicable, on the Financed Properties, subject only to Permitted Liens, in each case against the claims of all Persons whomsoever.

• At the time of disbursement of the Property Loan with respect to any Property, the Borrowers shall deposit with the Paying Agent (or such amounts shall be remitted from the proceeds of the Property Loan on such Property pursuant to Section 2.02(c)) for transfer to the Insurance Reserves Account for each Financed Property, an amount equal to one-half (1/2) of Administrative Agent’s estimate of the amount of the annual Insurance Premiums for such Property.

• If a Public Officer or Agency has specific statutory authority, then it may contract with another entity to have such entity operate the required governmental program in the State Bond Financed Property.

• The Loan Parties shall reimburse the Administrative Agent for any losses, costs, damages or expenses (including reasonable attorneys’ fees, out-of-pocket costs and expenses) incurred by the Administrative Agent if an interest in any Financed Property, other than as permitted hereunder, is claimed by another Person.

More Definitions of Financed Property

Financed Property means a real property parcel (and improvements related thereto) which (a) is owned in fee by a Borrower and located at or near a dealership or otherwise used or to be used by a dealership in its business, (b) is located in any state of the United States of America or the District of Columbia, (c) has been identified as a Financed Property with respect to any Loans on the applicable Loan Notice and (d) is one of the properties identified on Schedule 2.01 or an Added Property that has been added pursuant to a Collateral Substitution in accordance with the terms hereof. The Lender may revise Schedule 2.01 from time to time to (i) add any Added Property that has been added to the Property Pool, (ii) delete any Removed Property that has been removed from the Property Pool or (iii) delete any property that has been sold, transferred or otherwise disposed of in a Permitted Financed Property Disposition.

Financed Property means a real property parcel (and improvements related thereto) which (a) is owned in fee by a Borrower and located at or near a dealership or otherwise used (or under development for use) for any activity described in Section 6.20, (b) is located in any state of the United States of America or the District of Columbia, and (c) is one of the properties identified on Schedule 1.01(C). The Administrative Agent may revise Schedule 1.01(C) from time to time to reflect any real property parcel that has been added to the Property Pool, or any real property parcel that has been removed from the Property Pool, from time to time.

Financed Property means the individual or collective reference to the Properties with respect to which any Outstanding Advance Amount exists; provided, however, that a Property shall not be a Financed Property if Borrower has sold or otherwise disposed such Property to an individual consumer and deposited the Net Sale Proceeds from such sale or other disposition into the Collection Account.

Financed Property means the property financed by the NVTA Bond Proceeds. "General Public Use" means use of Financed Property by a Nongovernmental Person as a member of the general public. Use of Financed Property by a Nongovernmental Person in a Trade or Business is treated as General Public Use only if the Financed Property is intended to be available and in fact is reasonably available for use on the same basis by natural persons not engaged in a Trade or Business. Use under arrangements that convey priority rights or other preferential benefits is not use on the same basis as the general public.

Financed Property means a real property parcel (and improvements related thereto) which (a) is owned in fee by a Borrower and located at or near a dealership or otherwise used or to be used by a dealership in its business, (b) is located in any state of the United States of America or the District of Columbia and (c) has been identified as a Financed Property with respect to any Loans on the applicable Loan Notice.

Financed Property means any of the property financed or refinanced with the proceeds of the Certificates as described on Exhibit D.

Financed Property means the improvements described on Exhibit D hereto and refinanced with Proceeds of the Bonds.