UNQUALIFIED PROPERTY definition

UNQUALIFIED PROPERTY means the Property comprising a multifamily apartment project the fee simple interest in which is not 100% owned or leased, directly or indirectly, by Borrower and/or its Wholly Owned Subsidiaries.
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UNQUALIFIED PROPERTY means the Property comprising a multifamily apartment project the fee simple interest in which is not 100% owned, directly or indirectly, by Borrower and/or its Wholly Owned Subsidiaries.
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Related to UNQUALIFIED PROPERTY

  • 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.

  • Specified Property means property for which an election has been made for a special elective benefit.

  • Unqualified Opinion means an opinion on financial statements from an independent certified public accounting firm acceptable to Collateral Agent in its reasonable discretion which opinion shall not include any qualifications or any going concern limitations.

  • 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.

  • Assigned Property means the Insurances, the Earnings and the Requisition Compensation.