Stabilized Asset definition

Stabilized Asset means (i) with respect to an acquisition of an asset, such asset becomes stabilized when the Operating Partnership or its Subsidiaries or an unconsolidated joint venture in which the Operating Partnership or any Subsidiary has an interest has owned the asset as of at least six Reporting Dates, and (ii) with respect to a new construction or development asset, such asset becomes stabilized four Reporting Dates after the earlier of (a) six Reporting Dates after substantial completion of construction or development or (b) the first Reporting Date on which the asset is at least 90% leased.

Stabilized Asset means (i) with respect to an acquisition of an asset, such asset becomes stabilized when the Guarantor or its Subsidiaries or an unconsolidated joint venture in which the Guarantor or any Subsidiary has an interest has owned the asset as of at least six Reporting Dates, and (ii) with respect to a new construction or development asset, such asset becomes stabilized four Reporting Dates after the earlier of (A) six (6) Reporting Dates after substantial completion of construction or development or (B) the first Reporting Date on which the asset is at least 90% leased.

Stabilized Asset means any Qualifying Unencumbered Property which, while owned by Borrower achieved (i) an average Occupancy Rate greater than or equal to 85% during a calendar month and (ii) an Occupancy Rate of at least 85% on the last day of such month. As used herein, "Stabilized Asset" means any Qualifying Unencumbered Property which, while owned by Borrower, at one time satisfied the foregoing requirements, regardless of whether such Property subsequently fails to maintain such Occupancy Rates.

Examples of Stabilized Asset in a sentence

• Security Documents as defined in Section 3.2. Stabilized Asset shall mean an Individual Property which has an Occupancy Ratio of equal to or greater than eighty percent (80%).

• Notwithstanding the foregoing, such Nominated Property shall no longer qualify as an Unencumbered Development Property on the date that is the earlier of (A) twelve months following the date that Completion of Construction on such Nominated Property has occurred, or (B) the first fiscal quarter in which such Nominated Property becomes an Unencumbered Stabilized Asset Property.

• While DSSAD information can reveal abnormal driv- ing patterns, it is certainly not a one-to-one mapping of reality; rather, it is a series of limited observations undertaken by in-car technology.

• A) The number, identity and related Principal Balances and Allocated Stabilized Asset Values of each Collateral Obligation that has been subject to a Partial Sale, and (B) the amount of proceeds received (or to be received) in connection with such Partial Sale.

• This will fall under one of the following categories, each of which are defined below: ▪ Site Purchase▪ Direct Development▪ Forward Funding▪ Forward Commitment▪ Standing Stock Sale/ Stabilized Asset Sale▪ Joint Venture (JV)5.2 Site Purchase This type of transaction is a land transaction.

More Definitions of Stabilized Asset

Stabilized Asset means an Individual Property which has an Occupancy Ratio of equal to or greater than eighty percent (80%). Back to Contents

Stabilized Asset means, as of any date, any hotel asset owned by Guarantor, any Subsidiary or any Unconsolidated Entity that does not constitute a Non-Stabilized Asset.

Stabilized Asset means, as of any date, any hotel asset owned by the Partnership, any Subsidiary or any Unconsolidated Entity that does not constitute a Non-Stabilized Asset.

Stabilized Asset means, as of any date, any of the Company’s real estate assets and any real estate assets of the Company’s Subsidiaries, at least 90% of the rentable area of which was leased pursuant to bona fide tenant leases, licenses, or other agreements requiring current rent or other similar payments for the entire three months of the most recently completed fiscal quarter.

Stabilized Asset means an Individual Property which has an Occupancy Ratio of equal to or greater than eighty percent (80%). If due to the occurrence of an Event of Loss as to any Borrowing Base Property which was a Stabilized Asset prior to such Event of Loss, the Occupancy Ratio with respect thereto is less than eighty percent (80%), such Borrowing Base Property shall continue to be deemed to be a Stabilized Asset (notwithstanding that the Occupancy Ratio with respect thereto is less than eighty percent (80%) as a result of such Event of Loss) for a period equal to the lesser of (i) six (6) months from the occurrence of the Event of Loss or (ii) the determination that the subject Borrowing Base Property is not, or ceases to be, a Restoration Property; provided that the value derived from Individual Properties permitted to be Stabilized Assets pursuant to this sentence, as calculated pursuant to clause (a) of the definition of Borrowing Base Value, together with the Non-Stabilized Assets as calculated pursuant to clause (b) of Borrowing Base Value, shall not exceed 10% of the Borrowing Base Value.

Stabilized Asset means an Individual Property which has an Occupancy Ratio of equal to or greater than eighty percent (80%). If due to the occurrence of an Event of Loss as to any Borrowing Base Property which was a Stabilized Asset prior to such Event of Loss, the Occupancy Ratio with respect thereto is less than eighty percent (80%), such Borrowing Base Property shall continue to be deemed to be a Stabilized Asset (notwithstanding that the Occupancy Ratio with respect thereto is less than eighty percent (80%) as a result of such Event of Loss) for a period equal to the lesser of (i) six (6) months from the occurrence of the Event of Loss or (ii) the determination that the subject Borrowing Base Property is not, or ceases to be, a Restoration Property;provided that the value derived from Individual Properties permitted to be Stabilized Assets pursuant to this sentence, as calculated pursuant to clause (a) of the definition of Borrowing Base Value, together with the Non-Stabilized Assets as calculated pursuant to clause (b) of Borrowing Base Value, shall not exceed 10% of the Borrowing Base Value.

Stabilized Asset means an Individual Property that is neither a Development Asset nor a Land Asset.