Unsold Land definition

Unsold Land means Unimproved Land, Land/Lot Under Development and Finished Lots, excluding such Finished Lots subject to a Contract for Sale.
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Unsold Land means the sum of all unsold (a) Finished Lots, (b) Lots Under Development, (c) Entitled Land, and (d) Unentitled Land.
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Unsold Land as to the Borrower and any of its Subsidiaries which is a Loan Party, the collective reference to (i) Finished Lots, (ii) Land Under Development and (iii) Raw Land, in each case that are not subject to a bona fide written agreement for sale and purchase, between the Borrower or any such Subsidiary, as seller, and a Person, other than an Affiliate of the Borrower or any such Subsidiary, as buyer, entered into in the ordinary course of business, under which a cash xxxxxxx xxxey deposit or down payment in an amount customary for the locale has been paid, and that is subject only to customary contingencies to the closing of the agreement and the buyer's purchase obligation.
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Examples of Unsold Land in a sentence

  • The Borrower shall maintain at all times a ratio of (a) the GAAP Value of Unsold Land of the Borrower and its Subsidiaries to (b) Consolidated Tangible Net Worth of not more than 1.25 to 1.

  • The Borrower shall maintain a ratio measured as of the last day of each fiscal quarter ending after the Effective Date of (a) Unsold Land of the Borrower and its Restricted Subsidiaries, the value of which is determined in conformity with GAAP, to (b) Adjusted Consolidated Tangible Net Worth of not more than 1.50 to 1.

  • Permit at any time the ratio of (i) the aggregate Actual Costs of all Unsold Land at such time to (ii) Consolidated Tangible Net Worth at such time to be greater than 1.50 to 1.00.

  • On 16 November, I gave the opening speech for the evening reception of the Association of Police and Crime Commissioners and National Police Chiefs Council (APCC/NPCC) annual conference.

  • As well, the Board considers whether the availability of future regulatory processes might be able to address any potential adverse impacts that could arise from a transaction.10 Position of UNCAUNCA suggested that it was in the public interest to approve the Sale and the retention of the Unsold Land for use as a pole yard.

  • Subtracting the NBV of the Unsold Land from the accepted NBV of the Entire Property will represent the NBV of the land and buildings comprising the Facility.

  • The Administrative Borrower shall maintain a ratio measured as of the last day of each fiscal quarter ending after the Original Effective Date of (a) Unsold Land of the Administrative Borrower and its Restricted Subsidiaries, the value of which is determined in conformity with GAAP, to (b) Adjusted Consolidated Tangible Net Worth of not more than 1.50 to 1.

  • UNCA attributed a value of $2.0 million to the Unsold Land, based on an estimate of the cost to develop a replacement pole yard at another location.

  • Position of UNCAUNCA calculated the loss on the Sale as follows8: $ millions LandBuildingsTotalNBV – as at May 31, 20011.015.716.7Less: Sale Proceeds0.0(5.5)(5.5)Remaining NBV1.010.211.2Less: Value of Unsold Land(1.0)(1.0)(2.0)Loss on Sale0.09.29.2 UNCA has requested that the loss ($16.7 million NBV minus $5.5 million Sale Proceeds) be further reduced by the value of the Unsold Land.

  • The Board notes that its determination of the shortfall of $11.2 million is the same as UNCA’s, however the Board differs with respect to the remaining NBV of the Unsold Land, and the loss on sale.

Related to Unsold Land

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

  • Said Land shall have the meaning ascribed to such term in Paragraph I above and which is more fully and particularly described in the 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; S. 3 def. of "lessee" amended by No. 39/1997 s. 4(2)(b).

  • Undeveloped Land means (i) all undeveloped land existing on or acquired after the Issue Date and (ii) any operating property of the Company or any Subsidiary that is subject to a casualty event that results in such property ceasing to be operational.

  • Crown land means land in which there is a Crown interest or a Duchy interest;

  • Finished Lots Entitled Land with respect to which (a) development has been completed to such an extent that permits to allow use and construction, including building, sanitary sewer and water, are entitled to be obtained for a Unit on such Entitled Land and (b) start of construction has not occurred.

  • adjacent land means all land that borders a property and all land that would have bordered a property, if they were not separated by a river, road, railway line, power transmission line, pipeline, or a similar feature;

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

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

  • 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.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Timberlands means all the timberlands from time to time owned by the Loan Parties.

  • Project site, where applicable, means the place indicated in bidding documents.

  • Developed Land means all Developable Land of the Company and its Restricted Subsidiaries which is undergoing active development or is ready for vertical construction.

  • Underground facility means any item which shall be buried or placed below ground for use in connection with the storage or conveyance of water, sewage, electronic, telephone or telegraphic communications, electric energy, oil, gas or other substances, and shall include, but not be limited to pipes, sewers, conduits, cables, valves, lines, wires, manholes, attachments and those portions of poles and their attachments below ground.

  • Plant Site (Works, Factory) means the local integration of one or more plants, with any intermediate administrative levels, which are under one operational control, and includes common infrastructure, such as:

  • Mixed-use property means an eligible property that includes three or more residential units and may also contain a commercial property component in the same building.

  • Forest land means all land which is capable of supporting a merchantable stand of timber and is not being actively used for a use which is incompatible with timber growing. Forest land does not include agricultural land that is or was enrolled in the conservation reserve enhancement program by contract if such agricultural land was historically used for agricultural purposes and the landowner intends to continue to use the land for agricultural purposes in the future. For small forest landowner road maintenance and abandonment planning only, the term "forest land" excludes the following:

  • Built-Up Area and/or “Covered Area” in relation to a Flat shall mean the floor area of that Flat including the area of balconies and terraces, if any attached thereto, and also the thickness of the walls (external or internal) and the columns and pillars therein Provided That if any wall, column or pillar be common between two Flats, then one-half of the area under such wall column or pillar shall be included in the built-up area of each such Flat.

  • Entitled Land means parcels of land owned by the Borrower or any Guarantor which are zoned for the construction of single-family dwellings, whether detached or attached (excluding mobile homes); provided, however, that the term “Entitled Land” shall not include Land under Development, Finished Lots or any real property upon which the construction of Housing Units has commenced (as described in the definition of “Housing Unit”).

  • Project Land means any parcel or parcels of land on which the project is developed and constructed by a promoter;

  • the Property means the Property more particularly described in Condition 2 of the Conditions of Sale (as defined in 1.6 below);

  • Open space land means (a) any land area so designated by an

  • Vacant Land means the land parcels described on Schedule A attached hereto.

  • the Land means the land (including for the avoidance of doubt all buildings, structures landscaping and other erections) situated at and known as Xxx Xxxx Xxxxxx Xxxxxxx Xxxx Xxxxx Xxxxxxxx XX0 0XX;