Unimproved Real Estate definition

Unimproved Real Estate means property which has each of the following three characteristics: (i) it was not acquired for the purpose of producing rental or other operating income; (ii) there is no development or construction in process on such land, and (iii) there is no development or construction planned in good faith to commence on such land within one year.
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Unimproved Real Estate means any subdivided real estate interest, such as a lot, unit or parcel, which is not Improved Real Estate.
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Examples of Unimproved Real Estate in a sentence

  • Owners of Unimproved Real Estate held for speculation, investment, or future development are ineligible (see limited exception at paragraph 3.14).

  • Agreement to Purchase Unimproved Real Estate of Seller’s Default hereunder or Seller’s inability to deliver title to the Phase 1 Tract in the condition required hereunder.

  • Agreement to Purchase Unimproved Real Estate undertake public improvements to the development in which the Property is situated in the future utilizing special assessments or tax increment financing.

  • The Trust will not, and will not permit any Subsidiary to (i) make any Restricted Investment if, after giving effect thereto, the aggregate amount of Restricted Investments held by the Trust and its Subsidiaries would exceed 10% of Consolidated Total Assets or (ii) make any Unimproved Real Estate Investments if, after giving effect t h e reto, the aggregate amount of Unimproved Real Estate Investments held by the Trust and its Subsidiaries would exceed 10% of Consolidated Total Assets.

  • Agreement to Purchase Unimproved Real Estate other costs and expenses shall be apportioned in accordance with community custom for Union County, Ohio.

  • The Company will not, and will not permit any Subsidiary to (i) make any Restricted Investment if, after giving effect thereto, the aggregate amount of Restricted Investments held by the Company and its Subsidiaries would exceed 10% of Consolidated Total Assets or (ii) make any Unimproved Real Estate Investments, if after giving effect thereto, the aggregate amount of Unimproved Real Estate Investments would exceed 10% of Consolidated Total Assets.

Related to Unimproved Real Estate

  • 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.

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

  • Owned Real Estate means all land, together with all buildings, structures, fixtures, and improvements located thereon and all easements, rights of way, and appurtenances relating thereto, owned by the Company or any of its Subsidiaries.

  • Real Estate means all Leases and all land, together with the buildings, structures, parking areas, and other improvements thereon, now or hereafter owned by any Loan Party, including all easements, rights-of-way, and similar rights relating thereto and all leases, tenancies, and occupancies thereof.

  • Leased Real Estate means all leasehold or subleasehold estates and other rights to use or occupy any land, buildings, structures, improvements, fixtures, or other interest in real property held by the Company or any of its Subsidiaries.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and the sale of homes and related real estate activities, including the provision of mortgage financing or title insurance.

  • Undepreciated Real Estate Assets as of any date means the cost (original cost plus capital improvements) of real estate assets of the Company and its Subsidiaries on such date, before depreciation and amortization, determined on a consolidated basis in accordance with GAAP.

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

  • Commercial real estate means real estate or an interest in real estate that is not any of the following:

  • Material Real Estate Asset means (i) any fee-owned Real Estate Asset having a fair market value in excess of $2,500,000 as of the date of the acquisition thereof or (ii) any Real Estate Asset that the Required Lenders have determined is material to the business, general affairs, assets, liabilities, operations, management, condition (financial or otherwise), stockholders’ equity, results of operations or value of any Loan Party or any Subsidiary thereof, including the Borrower.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Eligible Real Estate means Real Estate:

  • Residential real estate means any real property located in this state, upon which is constructed or intended to be constructed a dwelling;

  • Excluded Real Property means (a) any fee-owned real property with a purchase price (in the case of real property acquired after the Effective Date) or Fair Market Value (in the case of real property owned as of the Effective Date, with Fair Market Value determined as of the Effective Date) of less than $3,500,000 individually, (b) any real property that is subject to a Lien permitted by Sections 6.02(iv), (xix), (xxii), (xxiii), (xxviii) or (xxxi), (c) any real property with respect to which, in the reasonable judgment of the Term Administrative Agent (confirmed by notice to the Borrower) the cost (including as a result of adverse tax consequences) of providing a Mortgage shall be excessive in view of the benefits to be obtained by the Lenders, (d) any real property to the extent providing a mortgage on such real property would (i) be prohibited or limited by any applicable law, rule or regulation (but only so long as such prohibition or limitation is in effect), (ii) violate a contractual obligation to the owners of such real property (other than any such owners that are the Borrower or Affiliates of the Borrower) that is binding on or relating to such real property (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code) but only to the extent such contractual obligation was not incurred in anticipation of this provision or (iii) give any other party (other than the Borrower or a wholly-owned Restricted Subsidiary of the Borrower) to any contract, agreement, instrument or indenture governing such real property the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable law) and (e) any Leasehold.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Owned Real Property has the meaning set forth in Section 4.10(a).

  • 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.

  • Real Estate Asset means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

  • 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.

  • Residential property means improved property that:-

  • Commercial property means property formerly or currently used primarily for business, retail, governmental or professional purposes.

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

  • 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).

  • 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.