Stabilized Project means an Operating Property which is not (i) an Acquisition Asset, (ii) an Asset Under Development or (iii) a Non-Stabilized Project.
Stabilized Project means a Facility which has achieved Resident Occupancy of at least 85% for three (3) consecutive months and a Debt Service Coverage Ratio of not less than 1.25 to 1.00 measured for the same three (3) consecutive months including a Facility which was a Development Project which has satisfied the foregoing Resident Occupancy and Debt Service Coverage Ratio requirements.
Stabilized Project means a Project which:
Examples of Stabilized Project in a sentence
If such buy-out has not been completed within nine (9) months of the Eligible Project's becoming a Stabilized Project, such Eligible Project will be classified by the Agent as a Pool C Project.
More Definitions of Stabilized Project
Stabilized Project means a Mortgaged Property which is (a) Construction Complete and is open for business as an extended stay facility and (b) has been either so open for at least twenty four (24) weeks or has, at any time, been at least eighty percent (80%) occupied for at least one (1) week.
Stabilized Project means a Project that meets all requirements of a Lease-Up Project and has achieved a Project Debt Service Coverage Ratio not less than 1.25 to 1.00 for the Applicable Period immediately preceding the date of measurement thereof.
Stabilized Project means a Project whose average occupancy factor has equaled or exceeded eighty-five percent (85%) for at least one prior quarter.
Stabilized Project means an Approved Project when [**]% of the Apartment Units within such Approved Project are occupied by tenants paying rent.
Stabilized Project means an Eligible Project with a Resident Occupancy of at least 85% and shall include a Development Project which (a) if the Eligible Project has fifty units or less, has either been open fifteen months or longer or achieves a ratio of Net Operating Income to Debt Service of not less than 1.25 to 1.00 measured at the last day of the fifth full fiscal quarter of operations and (b) if the Eligible Project has more than fifty units, has either been open eighteen months or longer or achieves a ratio of Net Operating Income to Debt Service of not less than 1.25 to 1.00 measured at the last day of the sixth full fiscal quarter of operations."
Stabilized Project means an Eligible Project with a Resident Occupancy of at least 85% and shall include a Development Project which has been open for twelve (12)
Stabilized Project means, as of any date, any Project which has achieved stabilization so that such Project was generating positive Net Operating Income at any time on or before the last day of the most recent fiscal quarter of the Borrower for which financial results have been reported, as certified by the Borrower, subject to review and reasonable approval by the Administrative Agent.