Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.
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.
Undeveloped Land means raw land that has not been filled to grade or been permitted for development.
Said Land shall have the meaning ascribed to such term in Recital XVII of this Agreement and which is more fully and particularly described in Part A of First Schedule written hereunder and delineated and demarcated in Annexure – A hereto;
Leased Land means land which is the subject of a lease granted under section 60 or 93G;