Value-Add Property definition

Value-Add Property means, as of any date of determination, any Borrowing Base Real Property that is not a Core Property.
Sample 1

Examples of Value-Add Property in a sentence

  • In connection with the release of a Value-Add Property, such Value-Add Property is the subject of an arms-length sale or refinancing, except in the case of a Casualty/Condemnation Release or a Default Release.

  • As such new or updated Appraisals are obtained and approved by the Administrative Agent, such Appraisals shall, immediately upon such approval, be used in the determination of the Core Property Value Amount (if such Borrowing Base Real Property is a Core Property) or the Value-Add Property Value Amount (if such Borrowing Base Real Property is a Value-Add Property) of the applicable Borrowing Base Real Property.

  • Subsequent Loans with respect to any Value-Add Property made after the addition of such Value-Add Property as a Collateral Property will be allowed for up to fifty-five percent (55%) of all tenant improvements, leasing commissions, and capital expenditures as incurred.

  • Furthermore, in no event shall the aggregate amount of Loans made against or with respect to any particular Value-Add Property exceed fifty-five percent (55%) of the “as stabilized” Appraised Value of such property based on the most recent Appraisal for such property (other than an Appraisal obtained pursuant to §5.2(b)(i)).

  • Notwithstanding the foregoing, either Party shall have the right, but not the obligation, to appoint separate counsel to represent them, at its own expense, in any action brought by the other Party under this Section 10.4. In any event, TCS and Novartis shall assist one another and cooperate in any such action at the other Party's request without expense to the requesting Party.

Related to Value-Add Property

  • 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.

  • Agricultural property means property that is used primarily for agricultural purposes but, without derogating from section 9 of the Act, excludes any portion thereof that is used commercially for the hospitality of guests, and excludes the use of the property for the purpose of eco-tourism or for the trading in or hunting of game;

  • 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.

  • 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.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Qualified agricultural property means that term as defined in section 1211 of the revised school code, MCL 380.1211.

  • Retail Property means a Property improved with a building or buildings the substantial use of which is retail space, which may include a Property that is part of a Mixed-Use Property.

  • Agricultural equipment includes but is not limited to equipment associated with livestock or crop production, horticulture, or floriculture. “Agricultural equipment” includes but is not limited to tractors; trailers; combines; tillage, planting, and cultivating implements; balers; irrigation implements; and all-terrain vehicles.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • 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.

  • 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.

  • Assessed Property means any Parcel within the District against which an Assessment is levied.

  • Released Property shall have the meaning set forth in Section 2.5.2 hereof.

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

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

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • 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.

  • Residential property means improved property that:-

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • Release Property has the meaning set forth in Section 2.5.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

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

  • 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.

  • Industrial Property – means property used for construction, repair, trade or manufacturing, production, assembly or processing of finished or partially finished products from raw materials or fabricated parts on such a large scale that capital and labour are significantly involved, and includes any office or other accommodation on the same property, the use of which is incidental to such activity;