Examples of Redevelopment Properties in a sentence
The Parent and the Borrower shall not at any time permit the aggregate amount of projected rentable square footage of all Development Properties and Major Redevelopment Properties owned by the Parent, the Borrower, any Subsidiary or any Unconsolidated Affiliate subject to binding leases to be less than 50.0% of the aggregate amount of projected rentable square footage of all such Development Properties and Major Redevelopment Properties.
For purposes of calculating Gross Asset Value as used in this subsection, the Gross Asset Value of Development Properties and Major Redevelopment Properties shall include, without duplication of any other amounts already included elsewhere in such calculation, the Total Budgeted Cost Until Stabilization of such Properties.
The Parent and the Borrower shall not permit the aggregate amount of Total Budgeted Cost Until Stabilization with respect to all Development Properties and Major Redevelopment Properties owned by the Parent, the Borrower, any Subsidiary or any Unconsolidated Affiliate to exceed 25.0% of Gross Asset Value at any time.
Seller will keep Purchaser constantly informed on the progress of development and/or renovation of the Redevelopment Properties and will consult with Purchaser on same.
Purchaser shall have the right to approve all modifications to plans and specifications with respect to such development and/or renovation of the Redevelopment Properties which approval shall not be unreasonably withheld, delayed or conditioned.
Purchaser shall have the right to approve all new Contracts with respect to such development and/or renovation of the Redevelopment Properties which approval shall not be unreasonably withheld, delayed or conditioned.
Prior to Closing, Purchaser and Seller may agree to expand the scope of the work required under the redevelopment plans on Schedule 7.6-A of the Disclosure Schedule to the extent any Tenant pursuant to its Lease or any Governmental Entity requires that additional redevelopment activities occur at the Redevelopment Properties.
If Seller or the applicable Subsidiaries do not complete and pay all amounts in respect of the development, redevelopment and/or renovation of one or both of the Redevelopment Properties prior to Closing (the "Incomplete Developments"), Seller will give Purchaser a credit against the Purchase Price payable at Closing in an amount equal to the unexpended portion of the Redevelopment budget described in Schedule 7.6-A of the Disclosure Schedule.
The Parent and the Borrower shall not permit the aggregate amount of Total Budgeted Cost Until Stabilization with respect to all Development Properties and Major Redevelopment Properties owned by the Parent, the Borrower, any Subsidiary or any Unconsolidated Affiliate to exceed 10.0% of Gross Asset Value at any time.
Xxxxxx Xxxx., Xxxxxx, XX 00000-0000 Group #3 Redevelopment Properties: o Modesto, 0000 Xxxx Xx., Modesto, CA 95350-2501 o Seattle 2, 00000 00 Xxx.