Projects Under Development definition

Projects Under Development means, as of any Calculation Date, any Project under development by the Borrower or any Wholly-Owned Subsidiary of the Borrower

Examples of Projects Under Development in a sentence

Borrower shall not permit the ratio of cost value of all undeveloped holdings (raw land)(exclusive of any properties determined to be Projects Under Development) determined in accordance with GAAP to exceed fifteen (15%) percent of Total Adjusted Asset Value.
Borrower will not permit the ratio of the cost value of Projects Under Development to exceed twenty five (25%) percent of Total Adjusted Asset Value.
Make any Investments, except: (a) Projects Under Development, undeveloped land holdings, Joint Venture Projects and Joint Ventures, Securities Holdings and Mortgages.
City Project Type of Property Net Saleable/ Leasable GFAInterest Attributable to the Groupsq.m. % Projects Under Development 2ShenzhenThe Spring LandResidential/70,009100 2 ShenzhenPhase 6AThe Spring LandCommercialResidential/ 56,900 100 5 ChangzhouPhase 6BChangzhou Le LemanCommercialResidential/ 84,921 100 5 Changzhou Subtotal 795,910 Projectno.
Certain statements contained in this Prospectus, such as the category of development, the Saleable Area, estimated construction commencement and estimated completion dates (for Projects Under Development and Forthcoming Projects), are based solely on assumptions, management estimates and our business plans.

More Definitions of Projects Under Development

Projects Under Development shall have the definitions given to them in the Existing Revolving Credit Agreement.

Projects Under Development means amounts included in the “Assets” section (for purposes of calculating Adjusted Net Operating Income) or the “Liabilities” section (for purposes of calculating the Total Development Ratio (as defined in the Guaranty)) of the consolidated balance sheet (which amount is determined in accordance with the Pro Rata Consolidation Method and calculated in a manner consistent with prior Test Periods) that is disclosed or reported as “total projects under development” on the Form 8-K most recently furnished by the Parent (or on its behalf) to the Securities and Exchange Commission; provided, that, notwithstanding the foregoing, any such amounts associated with any real estate project with respect to which the construction of improvements (as opposed to the development of the real estate in preparation of such construction) has commenced shall, upon the commencement of such construction, cease to be included in the calculation of Projects Under Development and shall be deemed to be included in the calculation of Projects Under Construction.

Projects Under Development means, as of any Calculation Date, any Project under development by the Borrower, any Wholly-Owned Subsidiary of the Borrower or any Joint Venture (a) classified as construction in progress on the Borrower’s quarterly financial statements or the financial statements of such Joint Venture; or (b) as to which a certificate of occupancy has not been issued; or (c) as to which a minimum of 70% of total gross leasable area has not been leased and occupied by paying tenants. “Properties” means, as of any date of determination, all interests in real property (direct or indirect), together with all improvements thereon, owned by any of the Consolidated Parties; and “Property” means any one of them. “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. “Public Lender” has the meaning specified in Section 6.02. “Recipient” means the Administrative Agent, any Lender, or any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder. “Register” has the meaning specified in Section 10.06(c). “Registered Public Accounting Firm” has the meaning specified in the Securities Laws and shall be independent of the Borrower as prescribed by the Securities Laws. “REIT” means a Person qualifying for treatment as a “real estate investment trust” under the Code. “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. “Release” means any release, spill, emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching, or migration of Hazardous Materials into the environment, or into or out of any Property, including the movement of any Hazardous Materials through or in the air, soil, surface water, groundwater, of any Property. “Replaced Credit Facility” means that certain Fourth Amended and Restated Liquidity Credit Agreement dated as of July 13, 2021 among Borrower, Administrative Agent and the lenders party thereto, as the same may have been, prior to the date of this Agreement, amended, restated, supplemented, extended or otherwise modified. “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.

Projects Under Development means collectively those certain proposed facilities of Seniorland Company, LLC, located at 0 Xxxxxxxxx Xxxxxxxx, Xxxxxxxxxxx, Xxx Xxxx and 0000 Xxxxxxx Xxxxx Xxxxx, Xxxxxxxxx, Xxx Xxxx, and that certain proposed facility of South Shore Associates, LLC, located at 0000 Xxxxxxxx Xxxxxxxx Xxxxxxx, Xxxxxxxx, Xxx Xxxx.

Projects Under Development means any Project under development or redevelopment by any Consolidated Party

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