Preleased Assets Under Development definition

Preleased Assets Under Development means, as of any date of determination, any Project which (i) is under construction and then treated as an asset under development under GAAP, and (ii) has, as of such date, at least fifty percent (50%) of its projected total rentable area leased at market rates to third party tenants similar to those at Borrower's other properties, both such land and improvements under construction to be valued for purposes of this Agreement at then-current book value, as determined in accordance with GAAP; provided, however, in no event shall Preleased Assets Under Development include any Project for more than 365 days from the date such Project is initially so designated under GAAP.
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Preleased Assets Under Development means, as of any date of determination, any Project owned by Borrower (i) which is then treated as an asset under development under GAAP, (ii) which is located in the United States of America (iii) which has been preleased under binding leases to unaffiliated tenants to the extent of at least fifty percent (50%) of the projected gross leasable area of such Project and (iv) which has been designated by Borrower in a written notice to Administrative Agent as a "Preleased Asset Under Development" for purposes of this Agreement, with the land and improvements being valued at then-current book value, as determined in accordance with GAAP, provided however, (a) in no event shall any Project be included in such category of "Preleased Assets Under Development" for more than two hundred seventy (270) days after construction of such asset commenced and (b) upon written designation to Administrative Agent delivered during such 270-day period, any Project which has previously been designated as a "Preleased Asset Under Development", shall be removed from such category. Upon the earlier to occur of (x) the expiration of any above-described 270-day period or (y) Administrative Agent's receipt of Borrower's written designation in accordance with (b) above, any Project which has been designated a "Preleased Asset Under Development" shall automatically lose such designation (effective as of the next determination date) for the purpose of determining Market Capitalization.
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Preleased Assets Under Development means, as of any date of determination, any bulk warehouse or light industrial property owned by Borrower or any of their respective Subsidiaries which (i) is under construction and then treated as an asset under development under GAAP, and (ii) has, as of such date, at least fifty percent (50%) of its projected total rentable area leased at market rates to third party tenants similar to those at Borrower's other properties, both such land and improvements under construction to be valued for purposes of this Agreement at then-current book value, as determined in accordance with GAAP ("Book Value"); provided, however, in no event shall Preleased Assets Under Development include any property for more than 270 days from the date such Property is initially so designated under GAAP."
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More Definitions of Preleased Assets Under Development

Preleased Assets Under Development means as of any date of determination, any Property which (i) is under construction and then treated as an asset under development under GAAP, and (ii) has, as of such date, at least fifty percent (50%) of its projected total rentable area leased at market rates to third party tenants similar to those at Borrower's other properties, both such land and improvements under construction to be valued for purposes of this Agreement at then-current book value, as determined in accordance with GAAP; provided, however, in no event shall Preleased Assets Under Development include any Property after the date on which a certificate of occupancy or comparable authorization has been issued for such Property by the applicable governmental authority. Preleased Assets Under Development shall be comprised of two groups: "75% Preleased Assets Under Development" which shall mean, collectively, any Preleased Assets Under Development that has, as of such date, at least seventy five percent (75%) of its projected total rentable area so leased; and "50% Preleased Assets Under Development" which shall mean, collectively, any Preleased Asset Under Development that has, as of such date, less than seventy five percent (75%) but at least fifty percent (50%) of its projected total rentable area so leased.
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Preleased Assets Under Development means, as of any date of determination, any Project or Rail Facility owned by Borrower or an Investment Affiliate (i) which is then treated as an asset under development under GAAP, (ii) which is located in the United States of America (iii) which has been preleased under binding leases to unaffiliated tenants to the extent of at least seventy-five percent (75%) of the projected gross leasable area of such Project and (iv) which has been designated by Borrower in a written notice to Administrative Agent as a “Preleased Asset Under Development” for purposes of this Agreement, provided however, (a) in no event shall any Project or Rail Facility be included in such category of “Preleased Assets Under Development” for more than five hundred forty (540) days after construction of such asset commenced and (b) upon written designation to Administrative Agent delivered by Borrower during such 540-day period, any Project or Rail Facility which has previously been designated as a “Preleased Asset Under Development”, shall be removed from such category. Upon the earlier to occur of (x) the expiration of any above-described 540-day period or (y) Administrative Agent’s receipt of Borrower’s written designation in accordance with (b) above, any Project or Rail Facility which has been designated a “Preleased Asset Under Development” shall automatically lose such designation (effective as of the next determination date) for the purpose of determining Market Capitalization. Notwithstanding the foregoing, if the Preleased Asset Under Development is a Rail Facility, then a 900-day period shall apply instead of the foregoing 540-day period.
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Preleased Assets Under Development means as of any date of determination, any Project or Completed Build to Suit Project which (i) is under construction for intended use and completion as a Project and is then either a Completed Build to Suit Project or is treated as an asset under development under GAAP, and (ii) has, as of such date, at least fifty percent (50%) of its projected total rentable area leased at market rates to third party tenants similar to those at Borrower's other properties, both such land and improvements under construction to be valued for purposes of this Agreement at then-current book value, as determined in accordance with GAAP; provided, however, in no event shall Preleased Assets Under Development include any Project after the date on which a certificate of occupancy or comparable authorization has been issued for such Project by the applicable governmental authority. Preleased Assets Under Development shall be comprised of two groups: "75% Preleased Assets Under Development" which shall mean, collectively, any Preleased Assets Under Development that has, as of such date, at least seventy five percent (75%) of its projected total rentable area so leased; and "50% Preleased Assets Under Development" which shall mean, collectively, any Preleased Asset Under Development that has, as of such date, less than seventy five percent (75%) but at least fifty percent (50%) of its projected total rentable area so leased.
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Related to Preleased Assets Under Development

  • Assets Under Development means any real property under construction other than Redevelopment Assets.

  • Lots Under Development means all Land Held for Development with respect to which the Borrower or any Subsidiary Guarantor has obtained all necessary approvals for its subdivision for residential housing units (including condominium units), and which the Borrower or any Subsidiary Guarantor is actively developing into Finished Lots; provided, however, that the term “Lots Under Development” shall not include any land upon which the construction of a residential housing unit has commenced.

  • Total Assets under Management is the total average assets under management for the month for all Accounts or portions thereof for which all investment advisers (including the Adviser) to which FASC provides that Category of Services act as investment adviser or subadviser and which utilize the Category of Services. “Applicable Margin” is 0.10.

  • Assets Under Management means, as of any specified date, the value of all Assets owned by the Partnership (the value to be determined as provided in this Agreement), including contributions requested and due from Partners and uncalled amounts of Commitments that are included in the Partnership’s regulatory capital (as such term is used in the SBIC Act), less the amount of any liabilities of the Partnership, determined in accordance with generally accepted accounting principles, consistently applied.

  • Developed Land means non-vacant land that is likely to be redeveloped during the planning period.

  • Undeveloped Land means (i) land owned in fee by the Company or any Subsidiary as of December 31, 2016 which at the time of determination has not been developed for commercial or residential purposes, (ii) land acquired by the Company or any Subsidiary subsequent to December 31, 2016 pursuant to a Code section 1031 like-kind exchange (in exchange for land described in clause (i) or (ii) of this definition) which at the time of determination has not been developed for commercial or residential purposes, or (iii) capital stock or other equity interests of a Subsidiary which owns as its principal asset, directly or indirectly, Undeveloped Land described in clause (i) or (ii) of this definition.

  • Finished Lots means, Entitled Land (i) that has been legally subdivided for the construction of Housing Units, (ii) that has been graded substantially in accordance with all grading plans approved by the applicable agencies and contains level building pads (except for any fine or precise grading to be completed immediately prior to vertical construction), (iii) that has all water, sewer, electrical and other utility services for planned residences installed and stubbed to the lot behind the sidewalk, (iv) that has all storm drain, sewer, curb, gutter, sidewalk and pavement for public access constructed and installed, except for any final lift of the streets and lateral connections to Housing Units, (v) that has all property corners surveyed and marked and any required survey monumentation installed, and (vi) with respect to which all applicable development fees (including, without limitation, school and development impact fees) that are required to be paid prior to obtaining a building permit have been paid other than building permit and plan check fees. Except as otherwise expressly provided in this Agreement, the term “Finished Lot” shall not include any Land upon which the construction of a Housing Unit has commenced.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Adjusted Consolidated Net Tangible Assets means (without duplication), as of the date of determination, the remainder of:

  • Consolidated Total Tangible Assets means, as of any date, the Consolidated Total Assets as of such date, less all goodwill and intangible assets determined in accordance with GAAP included in such Consolidated Total Assets.

  • Cluster development means a contiguous cluster or

  • Total Tangible Assets at any date of determination, the total amount of assets of the Guarantor and its Subsidiaries (without duplication and excluding any asset owned by the Guarantor or any Subsidiary that represents an obligation of the Guarantor or any other Subsidiary to such Subsidiary or Guarantor) after deducting therefrom all goodwill, trade names, trademarks, patents, licenses, copyrights and other intangible assets.

  • Small Diversity business concern means a small business concern that is at least fifty-one (51) percent unconditionally owned by one or more individuals who are both socially and economically diverse, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one or more socially and economically diverse individuals and that has its management and daily business controlled by one or more such individuals. This term also means a small business concern that is at least fifty-one (51) percent unconditionally owned by an economically diverse Indian tribe or Native Hawaiian Organization, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one of these entities, that has its management and daily business controlled by members of an economically diverse Indian tribe or Native Hawaiian organization.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Consolidated Net Tangible Assets means the total assets of the Company and its Restricted Subsidiaries (less applicable depreciation, amortization, and other valuation reserves), less all current liabilities (excluding intercompany liabilities) and all intangible assets of the Company and its Restricted Subsidiaries, all as set forth on the most recent consolidated balance sheet of the Company and its Restricted Subsidiaries, prepared in accordance with GAAP.

  • Net Tangible Assets means the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the Company’s balance sheet, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the Company’s current liabilities appearing on such balance sheet. For purposes of this definition, the Company's balance sheet does not include assets and liabilities of its subsidiaries.

  • Undepreciated Real Estate Assets as of any date means the cost (original cost plus capital improvements) of real estate assets of the Company and its Subsidiaries on such date, before depreciation and amortization, determined on a consolidated basis in accordance with GAAP.

  • Increased Assessed Value means, for each Fiscal Year during the term of this Agreement, the amount by which the Current Assessed Value for such year exceeds the Original Assessed Value. If the Current Assessed Value is less than or equal to the Original Assessed Value in any given Tax Year, there is no Increased Assessed Value in that year.

  • NCZ Examined Project means any Generator or UDR project that is not exempt pursuant to 23.4.5.7.8 and either (i) is in a Class Year on the date the Commission accepts the first ICAP Demand Curve to apply to a Mitigated Capacity Zone or (ii) meets the criteria specified in 23.4.5.7.3(II). An NCZ Examined Project may be at any phase of development or in operation or an Installed Capacity Supplier.For purposes of Section 23.4.5 of this Attachment H, “Net CONE” shall mean the localized levelized embedded costs of a peaking unit in a Mitigated Capacity Zone, net of the likely projected annual Energy and Ancillary Services revenues of such unit, as determined in connection with establishing the Demand Curve for a Mitigated Capacity Zone pursuant to Section 5.14.1.2 of the Services Tariff, or as escalated as specified in Section 23.4.5.7 of Attachment H.

  • Divestiture Assets means all of Defendants’ rights, titles, and interests in and to:

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Inclusionary development means a development containing both affordable units and market rate units. This term includes, but is not necessarily limited to: new construction, the conversion of a non-residential structure to residential and the creation of new affordable units through the reconstruction of a vacant residential structure.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Equalized assessed value means the assessed value of a property divided by the current average ratio of assessed to true value for the municipality in which the property is situated, as determined in accordance with sections 1, 5, and 6 of P.L.1973, c.123 (C.54:1-35a through C.54:1-35c).

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.