Property Additions definition

Property Additions has the meaning specified in Section 1.03.

Property Additions means, as of any particular time, any item, unit or element of property which at such time is owned by the Company and is Mortgaged Property.

Property Additions means, as of any particular time, any item, unit or element of property which (i) at such time is owned by the Company, and (ii) constitutes Mortgaged Property; provided, however, that Property Additions shall not include: (i) goodwill, going concern value rights or intangible property except as provided in subsection (c) of this Section; or (ii) any property the cost of acquisition or construction of which is, in accordance with generally accepted accounting principles, properly chargeable to an operating expense account of the Company at the time of such acquisition or construction.

Examples of Property Additions in a sentence

• If and to the extent that the withdrawal of cash is based upon Property Additions (as permitted under the provisions of clause (a) above), the Company shall, subject to the provisions of said clause (a) and except as hereafter in this paragraph provided, comply with all applicable provisions of this Indenture as if such Property Additions were made the basis for the authentication and delivery of Securities equal in principal amount to the cash so to be withdrawn.

• Any Property Additions which have become the basis for the release of Funded Property pursuant to this Section shall constitute Funded Property.

• Tenant shall deliver such items to Landlord free and clear of liens, encumbrances, and defects of title, except any such matters arising through Prime Landlord for the benefit of its Mortgagee and except for Casino Personal Property Additions Capital Leases then outstanding.

• Any Property Additions which have been made the basis of any such right to the authentication and delivery of Securities so waived shall be deemed to have been made the basis of the withdrawal of such cash; and any Retired Securities which have been made the basis of any such right to the authentication and delivery of Securities so waived shall be deemed to have been made the basis of the withdrawal of such cash.

• If and to the extent that the withdrawal of cash is based upon Unbonded Property Additions (as permitted under the provisions of clause (i) of Section 8.06(a)), the Company shall, subject to the provisions of said clause (i) and except as hereafter in this subsection provided, comply with all applicable provisions of this Indenture as if such Property Additions were made the basis for the authentication and delivery of Bonds equal in principal amount to 75% of the cash to be withdrawn.

More Definitions of Property Additions

Property Additions has the meaning specified in Section 103.

Property Additions has the meaning specified in Section 1.04(a).

Property Additions means, as of any particular time, any item, unit or element of property which at such time is owned by the Company and is subject to the Lien of this Indenture. Property Additions: (i) need not consist of a specific or completed development, plant, betterment, addition, extension, improvement or enlargement, but may include construction work in progress and property in the process of purchase insofar as the Company shall have acquired legal title to such property, and may include the following: (A) fractional and other undivided interests of the Company in property owned jointly or in common with other Persons, whether or not there are with respect to such property, other agreements or obligations on the part of the Company, if there is a bar against partition of such property which would preclude the sale of such property by any or all of such other Persons or the holder or holders of any Lien or Liens on the interest of any of such other Persons in such property, without the consent of the Company; (B) engineering, economic, environmental, financial, geological and legal or other surveys, data processing equipment and software, preliminary to or associated with the acquisition or construction of property included or intended to be included in the Mortgaged Property, provided that any such property is not Excepted Property or, if it is Excepted Property, such property has been subjected to the Lien and operation of this Indenture as provided in Granting Clause Third; (C) paving, grading and other improvements to, under or upon highways, bridges, parks or other public property of analogous character required for or in connection with the installation or repair of overhead, surface or underground facilities and paid for and used or to be used by the Company, notwithstanding that the Company may not hold legal title thereto; (D) property located over, on or under property owned by other Persons, including governmental or municipal agencies, bodies or subdivisions, under permits, licenses, easements, franchises and other similar privileges, if the Company shall have the right to remove the same; (E) intangible property (including any acquisition premium paid in connection with the acquisition of any property); and (ii) may include renewals, replacements and substitution of property not excluded from the definition of “Property Additions” by virtue of clause (iii) below; but (iii) shall not include: (A) Excepted Property (other than Excepted Property which has...

Property Additions is defined in Section 1.04 hereof.

Property Additions has the meaning specified in Section 102.

Property Additions as used herein shall mean all tangible property owned by the Company and made, constructed or otherwise acquired by it subsequent to December 31, 1975, which the Company is authorized to acquire, own and operate and which is used or useful in the business of impounding, storing, transmitting, producing, manufacturing, transporting, distribution or supplying water for any and all purposes. Permanent improvements, extensions, additions or replacements in the process or construction or erection, shall be included as Property Additions as of any particular time, insofar as actually constructed or erected after December 31, 1975, and before such particular time. There shall not be included as Property Additions (a) Excepted Property, (b) going value or good will, as such, (c) any item of property retired the retirement of which has not been credited to utility plant account, (d) any item of property acquired to replace a similar item of property whose retirement has not been credited to utility plant account, or any item of property whose cost has been charged or is properly chargeable to repairs, maintenance or other operating expense account or whose cost has been charged or is not properly chargeable to utility plant account, or (e) any property not located in the State of New Jersey or in a State contiguous thereto.

Property Additions means Mortgaged and Pledged Property acquired by the Company by purchase, consolidation, merger, donation, construction, erection or in any way whatsoever, subsequent to June 30, 1945, or in the process of construction or erection in so far as actually constructed or erected subsequent to June 30, 1945.