Shared Appreciation Interest definition

Shared Appreciation Interest as used in this endorsement shall mean only those amounts (calculated pursuant to the formula provided in the insured mortgage) payable or allocated to the insured mortgagee, out of the amount, if any, by which the land has appreciated in value as established pursuant to the provisions of the insured mortgage at date of Policy.
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Shared Appreciation Interest means Additional Interest provided for in a Subordinated Promissory Note, which Additional Interest is calculated as a percentage of certain increases in the value of the property securing the underlying mortgage loan and is due and payable upon sale or other realization of the property underlying the Mortgage.
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Shared Appreciation Interest means and include thirty percent (30%) of the excess of the "Value", as defined below, over the "Base Value", as defined below, of the Project until the first to occur of (i) a "Sale of the Project", as defined below, to an unrelated third party or parties; (ii) the Maturity Date determined in accordance with the terms of this Amended and Restated Subordinated Note; or (iii) prepayment of this Amended and Restated Subordinated Note in accordance with its term. The "Value" of the Project shall equal all consideration paid in connection with the Sale of the Project, including the stated purchase price, cash, notes, any indebtedness assumed and/or to which the Project is then subject, interest on any deferred portion of the purchase price and the value of any and all other consideration, direct or indirect, and whether paid to the Maker or to any other period or party, but excluding to the extent paid by Maker, the following: (i) prorations and reasonable selling expenses, including reasonable independent third party broker's commissions, (ii) title searches, (iii) survey costs, and (iv) recording costs, escrowed charges and transfer taxes.
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Examples of Shared Appreciation Interest in a sentence

  • Shared Appreciation Interest" shall mean and include thirty percent (30%) of the excess of the "Value", as defined below, over the "Base Value", as defined below, of the Project until the first to occur of (i) a "Sale of the Project", as defined below, to an unrelated third party or parties; (ii) the Maturity Date determined in accordance with the terms of this Amended and Restated Subordinated Note; or (iii) prepayment of this Amended and Restated Subordinated Note in accordance with its term.

  • The Maker covenants and agrees to pay the Holder from the date hereof "Additional Interest" which shall mean and include the greater of "Minimum Additional Interest" or "Shared Income Interest" as defined below in subparagraphs A and B, and in addition, "Shared Appreciation Interest" as defined in Subparagraph C.

Related to Shared Appreciation Interest

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Non-Tandem Stock Appreciation Right means the right to receive an amount in cash and/or stock equal to the difference between (x) the Fair Market Value of a share of Common Stock on the date such right is exercised, and (y) the aggregate exercise price of such right, otherwise than on surrender of a Stock Option.

  • Appreciation Award means any Award under this Plan of any Stock Option, Stock Appreciation Right or Other Stock-Based Award, provided that such Other Stock-Based Award is based on the appreciation in value of a share of Common Stock in excess of an amount equal to at least the Fair Market Value of the Common Stock on the date such Other Stock-Based Award is granted.

  • Tandem Stock Appreciation Right means the right to surrender to the Company all (or a portion) of a Stock Option in exchange for an amount in cash and/or stock equal to the difference between (i) the Fair Market Value on the date such Stock Option (or such portion thereof) is surrendered, of the Common Stock covered by such Stock Option (or such portion thereof), and (ii) the aggregate exercise price of such Stock Option (or such portion thereof).

  • Stock Appreciation Right Agreement means a written agreement between the Company and a holder of a Stock Appreciation Right evidencing the terms and conditions of a Stock Appreciation Right grant. Each Stock Appreciation Right Agreement will be subject to the terms and conditions of the Plan.

  • Appreciation Right means a right granted pursuant to Section 5 of this Plan, and shall include both Tandem Appreciation Rights and Free-Standing Appreciation Rights.

  • Award Gain means (i), in respect of a given stock option exercise, the product of (X) the Fair Market Value per share of common stock at the date of such exercise (without regard to any subsequent change in the market price of shares) minus the exercise price times (Y) the number of shares as to which the stock option was exercised at that date, and (ii), in respect of any other settlement of an Award granted to Executive, the Fair Market Value of the cash or stock paid or payable to Executive (regardless of any elective deferral) less any cash or the Fair Market Value of any stock or property (other than an Award or award which would have itself then been forfeitable hereunder and excluding any payment of tax withholding) paid by Executive to the Company as a condition of or in connection such settlement; and

  • Stock Appreciation Right or “SAR” means a right to receive the appreciation on Common Stock that is granted pursuant to the terms and conditions of Section 5.

  • Capital Appreciation Bonds means Bonds issued under this Master Indenture and any Supplemental Indenture as to which interest is compounded periodically on each of the applicable periodic dates designated for compounding and payable in an amount equal to the then-current Accreted Value only at the maturity or earlier redemption thereof, all as so designated in a Supplemental Indenture of the Issuer providing for the issuance thereof.

  • Unit Appreciation Right or “UAR” means a contingent right that entitles the holder to receive the excess of the Fair Market Value of a Unit on the exercise date of the UAR over the exercise price of the UAR.

  • Other Share-Based Award means a right, granted under Section 5(h), that relates to or is valued by reference to Shares.

  • Stock Appreciation Rights or “SAR” means a right granted to a Participant under Section 6(c).

  • Threshold Appreciation Price has the meaning specified in Section 5.1.

  • Free-Standing Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is not granted in tandem with an Option Right.

  • Performance Award means any right granted under Section 6(d) of the Plan.

  • Other Unit-Based Award means an award granted pursuant to Section 6(f) of the Plan.

  • Stock Appreciation Right” or “SAR means a stock appreciation right awarded under the Plan as provided in Section 8.

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • Total Percentage Interest means, with respect to any Partner, the quotient obtained by dividing the number of Units (vested or unvested) then owned by such Partner by the number of Units then owned by all Partners.

  • Freestanding SAR means an SAR that is granted independently of any Options, as described in Article 7 herein.

  • Stock-Based Award means any Award, denominated in Shares, made pursuant to this Plan, including Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance Awards or Other Stock-Based Awards.

  • Performance Award Agreement means a written agreement between the Company and a Holder with respect to a Performance Award.

  • Other Share-Based Awards means Awards consisting of Share units, or other Awards, valued in whole or in part by reference to, or otherwise based on, Shares.

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Stock Appreciation Rights Agreement means a written agreement between the Company and a Holder with respect to an Award of Stock Appreciation Rights.