Option Land definition

Option Land means the land described in the Option Agreements;

Option Land means the land shown in blue on the Map and described as Under Option to GDC.

Option Land means the "option land" as defined in the LLC Agreement.

Examples of Option Land in a sentence

• B The Developer owns the Developer’s Land and has a right to purchase the Option Land.

• Where there is termination and not all the Option Land has been transferred to Capco, an overage regime will apply should the Council sell this land to a third party for more than it would have obtained from Capco (having regard to both the cash consideration and the value of the Replacement Homes).

• This reduced to £89,500,000 if the Seagrave Road Houses were not included in the Option Land at the relevant time.

• Based on preliminary plans, the Land is proposed for a landmark commercial development with an estimated gross development value (“GDV”) of approximately RM1.4 billion and potential upside to RM2 billion with the 5.95 acres Option Land.

• The Mortgage was not immediately in registrable form but it is common ground that the intention was that it cover the Option Land.

• On 26 June 2007 a mortgage ("the Mortgage") over the Option Land was executed by Poplar in favour of Walker Corporation to secure advances of approximately $16m, repayable in June 2010.

• The option is exercisable by Convention City within 2 years from the date the Landowner procures the separate issue document of title to the Option Land.

• The loan was secured by, amongst other things, an unregistered mortgage over the Option Land, and a charge over Poplar's assets, which included the Option Land.

• Assuming Convention City exercises its option to develop the Option Land with the Landowner, the aggregated percentage ratio applicable to both transactions is 12.4%.

• On 25 June 2007 the Managing Director of Walker Corporation was sent a copy of a letter from the Club's solicitors to JACS threatening the institution of proceedings to enforce contractual rights – "to ensure JACS complies with its obligations under the MOU." That letter did not refer to any application for a declaration that a constructive trust existed over or should be imposed on the Option Land, nor did it claim that JACS or Poplar owed the Club any fiduciary duty.

More Definitions of Option Land

Option Land means the area hatched in red on the plan attached as Annexure E;

Option Land means those portions of the Project Area as to which Developer from time to time may exercise the Option.

Option Land. As defined in Article 1.

Option Land. That certain parcel or contiguous parcels of land located in the City of Portsmouth, State of Virginia covered by and more particularly described in the Option Contract.

Option Land means the area approximately 18 acres of the Airport more particularly described on Exhibit “A-4.” attached hereto and incorporated herein by this reference, which Rail Company is granted an option to lease from the Authority in accordance with the terms and conditions of this Agreement.