Lot Eligibility Date definition

Lot Eligibility Date means, with respect to each A&D Lot or Finished Lot, as applicable, the date such Lot is first included as Eligible Collateral as an A&D Lot or Finished Lot.
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Lot Eligibility Date means, with respect to any each Lot (and including any Land Under Development) , the date such Lot (or Land Under Development) is first included as such in a Borrowing Base Report.
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Lot Eligibility Date means, with respect to each Lot, the date such Lot is first included as such in a Borrowing Base Report.
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Examples of Lot Eligibility Date in a sentence

  • Each Lot included in Entitled Land shall be included in Eligible Property for the period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Lot.

  • With respect to each Approved Subdivision, each A&D Lot in such Approved Subdivision shall be a Finished Lot within twenty-four (24) months after the first Lot Eligibility Date in such Approved Subdivision or such other time period as is specified in the applicable Subdivision Approval Letter.

  • A&D Completed Lots in each Approved Subdivision may be included in the Borrowing Base as Eligible Collateral for a period of not more than twenty-four (24) Calendar Months after the first applicable Lot Eligibility Date for such A&D Completed Lots, subject to the Maximum Allowed Advance limitations for the aggregate amount of the Commitment Amount applicable to the A&D Completed Lots for such Approved Subdivision.

  • Lots constituting Land Under Development in each Approved Subdivision may be included in the Borrowing Base as Eligible Collateral for a period of not more than twenty-four (24) Calendar Months after the first applicable Lot Eligibility Date for such Lots, subject to the Maximum Allowed Advance limitations for the aggregate amount of the Commitment Amount applicable to the Land Under Development for such Approved Subdivision.

  • If any A&D Lots are included as Collateral for the Loan, Borrower agrees that with respect to A&D Lots, it will cause construction of the A&D Lot Improvements to be commenced no later than four (4) Calendar Months after the applicable Lot Eligibility Date.

  • Each Lot Under Development shall be included in Eligible Property for the period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Lot.

  • Construction of A&D Lot Improvements on A&D Lots shall be prosecuted and completed in good faith, with due diligence, and without delay within eighteen (18) Calendar Months after the Lot Eligibility Date.

  • Borrower shall commence development of any Land Under Development within nine (9) Calendar Months of the first Lot Eligibility Date with respect to such Land Under Development and shall, thereafter, prosecute such development in good faith and due diligence until completion thereof.

  • After the expiration of the final A&D Lot Maturity Date, such Lot shall be excluded from Eligible Property; provided, however, that upon the conversion of any Lot that is Entitled Land to either a Developed Lot or a Lot Under Development, such converted Lot shall be included in Eligible Property for an additional period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Developed Lot or Lot Under Development.

  • On each A&D Lot Eligibility Date for Lots in a Project included hereunder, Borrower agrees to pay the applicable Commitment Fees with respect to said Lots.