Stabilized Properties definition

Stabilized Properties means the properties owned directly or indirectly by the Trust from time to time for a continuous period greater than 24 months;
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Stabilized Properties means any Property which meets all of the following criteria: (i) a certificate of occupancy has been issued for the Property and remains in full force and effect, (ii) the Property has been at least eighty-five percent (85%) occupancy level if multifamily, retail, or office (based on actual leasable square footage at the property) for the most immediately preceding three (3) consecutive months based on leases wherein the tenants are paying at least the average monthly lease payments required by the terms of such leases and such leases are free from default by either the landlord or tenant thereunder, and (iii) there is no Lien on the Property. However, if a historically Stabilized Property drops below the above listed occupancy threshold level, such Property may again become classified as a Stabilized Property after attaining a ninety percent (90%) occupancy level for a monthly reporting period if such Property attains such ninety percent (90%) occupancy level within three months of previously being classified as a Stabilized Property. Once a Property is reclassified as a Stabilized Property, then such Property shall remain classified as a Stabilized Property if it satisfies items (i) and (iii) above and maintains at least eighty-five percent (85%) occupancy level for each month thereafter.
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Stabilized Properties means any Property which meets all of the following criteria: (i) a certificate of occupancy has been issued for the Property and remains in full force and effect, (ii) the Property has been at least eighty-five percent (85%) leased if multifamily or retail, and at least eighty percent (80%) leased if office (based on actual leasable square footage at the property) for the most immediately preceding three (3) consecutive months based on leases wherein the tenants are paying at least the average monthly lease payments required by the terms of such leases and such leases are free from default by either the landlord or tenant thereunder, and (iii) there is no Lien on the Property.
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Examples of Stabilized Properties in a sentence

  • Stabilized Properties Newly constructed, lease-up, development and redevelopment properties are deemed stabilized upon the earlier to occur of the first full calendar quarter beginning (a) 12 months after the property is fully completed and put in service and (b) attainment of at least 90% physical occupancy.

  • In addition, Borrower shall deliver to Agent appraisals reasonably satisfactory to Agent setting forth the as-is value of Stabilized Properties owned by Borrower, CVOP II, from and after the Merger, CVOP I, and their respective Subsidiaries not included in the calculation of Pool Availability but which are included in the calculation of Gross Asset Value (provided that Borrower shall not be required to obtain new appraisals with respect to such properties described in this sentence).

  • In addition, Borrower shall deliver to Agent appraisals reasonably satisfactory to Agent setting forth the as-is value of Stabilized Properties owned by Borrower and its Subsidiaries not included in the calculation of Pool Availability but which are included in the calculation of Gross Asset Value (provided that Borrower shall not be required to obtain new appraisals with respect to such properties described in this sentence).

  • Borrower may, from time to time, give written notice (a "Negative Pledge Designation Notice") to Agent of Borrower's intent that one or more additional Development Properties or Stabilized Properties will become Negative Pledge Properties.

  • Required Lenders shall have the right, from time to time, but in no event more frequently than once in any calendar year, at Borrower’s expense, to obtain reviews (or reconciliations) of Appraised Values from any of the Approved Appraisal Providers with respect to up to 15% (by number) of the Stabilized Properties.

  • With respect to Stabilized Properties only, the release of such Stabilized Property shall be subject to the written approval of the Administrative Agent, except in the case of a Casualty/Condemnation Release or a Default Release.

  • No Property described in the definition of “Borrowing Base Property” that is to be excluded from determinations of the Aggregate Borrowing Base Properties Value, Adjusted Stabilized Property Value, Pre-Stabilized Properties Borrowing Base Availability, Stabilized Properties Borrowing Base Availability, or Borrowing Base Availability, as applicable, has been included in the calculation thereof.

  • As of any date of determination, on a consolidated basis for the Consolidated Group the sum of: (a) the aggregate Property NOI for all Stabilized Properties (excluding Property NOI from Stabilized Properties being held at acquisition cost under (b) below) for the most recent calendar quarter, annualized, divided by the Capitalization Rate, plus (b) the acquisition cost of any Stabilized Property for the first eighteen (18) months following its acquisition.

  • The Borrower will not permit the Stabilized Properties, on a combined basis, to have less than 80% of their aggregate gross leasable area to be leased pursuant to Leases having a weighted average (based on leased square feet) remaining lease term of not less 2.5 years.

  • Vice-President for Administration and Treasurer Jim Martin presented the item, stating that currently Washburn is holding scholarship monies from several years back with Stifel Nicklaus but looking to move those funds over to the Foundation.


More Definitions of Stabilized Properties

Stabilized Properties means the Properties listed on Schedule SA.
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Stabilized Properties means, as of any date, Properties that (a) are owned for the full quarterly period ending on such date, and (b) either (i) have achieved an average occupancy level based upon bona fide tenant leases requiring current rent payments of at least ninety-three percent (93%), or (ii) as of such date, have been owned for not less than twelve (12) consecutive months following Borrower's or a Consolidated Affiliate's acquisition thereof or substantial completion of improvements thereon.
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Stabilized Properties means those certain Completed Properties designated by the Borrower at the end of each Fiscal Quarter that have a weighted average Occupancy Rate of 85% or greater, provided, however, each such Completed Property (i) shall have prior to the date of determination achieved an Occupancy Rate of 85% or greater and (ii) as of the date of determination, shall have a Occupancy Rate of not less than 70%.
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Stabilized Properties means Waterford at Mesquite, Waterford at Thousand Oaks, Waterford at Plano, Sedgwick Plaza and Towne Center (as such Facilities are identified on Exhibit A).
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Stabilized Properties means all Properties other than Non-Stabilized Properties and New Properties Under Construction.
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Related to Stabilized Properties

  • Stabilized Property means, any Property that is not a Development Property.

  • Stabilized means land that has been treated to withstand normal exposure to natural forces without incurring erosion damage.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Improved Property means any property upon which there is erected a structure intended for continuous or periodic habitation, occupancy or use by human beings or animals and from which structure Sanitary Sewage and/or Industrial Wastes shall be or may be discharged.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Blighted property means property that meets any of the following criteria:

  • Partnership Property means any property, real, personal or mixed, or any interest therein or appurtenant thereto which may be owned or acquired by the Partnership.

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Securitization Property means the property described in section 10j.

  • Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Property NOI means, with respect to any Property for any Rolling Period (without duplication) the aggregate amount of (i) Property Income for such period minus (ii) Property Expenses for such period.

  • Multifamily Property means any real property on which multifamily residential-use development has been constructed or is now or hereafter proposed to be constructed (for example, and not by way of limitation, a property of the type managed by the Company).

  • Qualified project means the construction or expansion of any capital project of the Borrower or any of its Restricted Subsidiaries, the aggregate actual or budgeted capital cost of which (in each case, including capital costs expended by the Borrower or any such Restricted Subsidiaries prior to the construction or expansion of such project) exceeds $50,000,000.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Real Property Assets means as to any Person as of any time, the real property assets (including, without limitation, interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Owned Properties has the meaning set forth in Section 3.16.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.