Non-Compliant Property definition

Non-Compliant Property means an Assessor's Parcel of Pending Property that generates a need for a One-Time Special Tax as calculated under Section D.3.
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Examples of Non-Compliant Property in a sentence

  • Each Seller and Buyer agree to treat each Potential Flooring Spec Non-Compliant Property as if it were subject to a Flooring Spec Non-Compliance for purposes of Sections 3.1(d) and (e) of the Purchase Agreement, with Buyer having all rights to require the applicable Seller to make a Flooring Non-Compliance Cure Payment in respect of such property and under Section 4.2(a)(ii)(z) of the Purchase Agreement.

  • Upon repayment or substitution as provided in this subsection, Agent agrees to release its security interest in such Non-Compliant Property and to promptly execute and deliver to Borrowers all releases, forms, agreements, filings and other items necessary to evidence such release.

Related to Non-Compliant Property

  • Vacant Property – means any land without any improvements thereon;

  • relevant property means property of a kind affected by the transfer order, whether it is an estate or interest in land or any other property.

  • Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

  • Redevelopment Property means a property owned by the Company or a Consolidated Subsidiary (a) where the commenced leased square footage is less than 60% of the sum of net rentable square feet and redevelopment space, with reasonable adjustments to leased square footage determined in good faith by the Company, including adjustments for available power, required support space and common area and (b) that the Company reasonably characterizes as held in whole or in part for redevelopment.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.