New Facility means a property previously undeveloped which is placed into service by means other than or in conjunction with expansion or modernization.
New Facility has the meaning specified therefor in Section 7.01(m).
New Facility means new industrial property other than a replacement facility to be built in a plant rehabilitation district or industrial development district.
Examples of New Facility in a sentence
Until such time as the New Facility (or any amount under the New Facility Agreements) has been repaid in full by the Borrower, the Existing Creditor shall not without the prior written consent of the New Creditor make any repayment demand against the Borrower for any portion of the Existing Facility in priority to the New Facility, except where any such repayment is to be made on a pari passu basis proportionately in respect of the both the Existing Facility and the New Facility.
More Definitions of New Facility
New Facility shall have the meaning given to such term in Section 28.1 of the Lease.
New Facility means real or personal industrial or commercial property located in an enterprise zone, the construction, restoration, alteration, or renovation of which begins after the date on which the business applies with the local governmental unit for certification as a qualified business. Restoration, alteration, or renovation of existing property constitutes a new facility only if the increase in the combined true cash value of the restored, altered, or renovated real and personal property is equal to or greater than 50% of the combined true cash value of the real and personal property before restoration, alteration, or renovation as defined in the general property tax act, notwithstanding the exemptions granted by this act.
New Facility as defined in the definition of “Facility.”
New Facility means a property previously undeveloped which is placed into service by means other than or in conjunction with an Expansion or Modernization.
New Facility means a previously closed facility that
New Facility means a property previously undeveloped, which is placed into service by means other than expansion or modernization.