Development Property definition

Development Property means a Property currently under development for use as an office or industrial building that has not become a Stabilized Property, or on which the improvements (other than tenant improvements on unoccupied space) related to the development have not been completed, provided that such a Development Property on which all improvements (other than tenant improvements on unoccupied space) related to the development of such Property have been completed for at least twelve (12) months shall cease to constitute a Development Property notwithstanding the fact that such Property has not become a Stabilized Property.

Development Property means the real property described in Exhibit A attached to this Agreement;

Development Property means a property that is being prepared for mineral production and for which economic viability has been demonstrated by a feasibility study;

Examples of Development Property in a sentence

• All rates and charges applicable to a Customer in the Development Property shall be assessed as provided in the General Rules and Regulations and/or in the Rate T Schedules of Xcel Energy’s Electric or Gas Rate Book for Customer’s specific service, as they now T exist or may hereafter be changed, on file with the state regulatory commission in the state where service is provided.

• This Agreement and the covenants, conditions and restrictions contained herein shall run with the land and shall burden the Development Property for the benefit of the City and shall bind Developer and its heirs, successors and assigns and every successor-in-interest of the Development Property.

• Streets/Rights-of-Way Listed in First Sentence of This paragraph is/are sometimes hereinafter referred to collectively as the “Tieback Parcels.” Developer plans to construct a Description of Development (e.g., three-story mixed-use residential building consisting of 51 units over ground floor commercial retail space and 2 levels of subterranean parking) (“Project”) on the Development Property.

• With the County’s consent, any or all of the interest of the Company or any other Co-Investor in the Economic Development Property or this Agreement may be transferred or assigned by the Company or any other Co-Investor, as applicable, or any other assignee to any other Person; provided, however, that such consent is not required for (i) transfers to an Affiliate; or (ii) financing-related transfers or any other transfers not requiring the consent of the County under the Act.

• For the Project, the Company shall use its best efforts to invest at least Two Million Five Hundred Thousand Dollars ($2,500,000.00) in Economic Development Property by the end of the Investment Period.

More Definitions of Development Property

Development Property means real property on which a residential dwelling, condominium unit, or other residential structure is located, which residential dwelling, condominium unit, or other residential structure meets all of the following conditions:

Development Property means any real property in which the development and construction with respect thereto are not complete.

Development Property shall include real property of the type described in the immediately preceding sentence to be (but not yet) acquired by the Company, any Subsidiary or any joint venture of the Company upon completion of construction pursuant to a contract in which the seller of such real property is required to develop or renovate prior to, and as a condition precedent to, such acquisition.

Development Property means either (a) a new Hotel Property under construction including the conversion of a non-Hotel Property into a Hotel Property or (b) an existing Hotel Property which is undergoing an expansion pursuant to which the total guest rooms for such Hotel Property will be increased by 50% or more.

Development Property means a Property which is under development or which (as determined in good faith by the Borrower) will commence development within twelve months of the date of determination. A Development Property shall cease to constitute a Development Property on the earlier of (a) the one year anniversary date of project completion and (b) the first day of the first full fiscal quarter after the project achieves an Occupancy Rate of 85%. For purposes of this definition, each individual phase of development of a data center shall be deemed to be a separate and distinct Property.

Development Property means a Property currently under development that has not achieved an Occupancy Rate of 80.0% or more or, subject to the last sentence of this definition, on which the improvements (other than tenant improvements on unoccupied space) related to the development have not been completed. The term “Development Property” shall, without limitation, (a) include real property of the type described in the immediately preceding sentence that satisfies both of the following conditions: (i) it is to be (but has not yet been) acquired by the Borrower, any Subsidiary or any Unconsolidated Affiliate upon completion of construction pursuant to a contract in which the seller of such real property is required to develop or renovate prior to, and as a condition precedent to, such acquisition and (ii) a third party is developing such property using the proceeds of a loan that is (x) made by the Borrower, any Subsidiary or any Unconsolidated Affiliate to such third party developer or (y) Guaranteed by, or is otherwise recourse to, the Borrower, any Subsidiary or any Unconsolidated Affiliate but (b) exclude any Property undergoing ordinary course capital improvements or renovations. A Development Property on which all improvements (other than tenant improvements on unoccupied space) related to the development of such Property have been completed for at least 12 months shall cease to constitute a Development Property notwithstanding the fact that such Property has not achieved an Occupancy Rate of at least 80.0%.

Development Property means a Property currently under development that has not achieved an Occupancy Rate of 80.0% or more or, subject to the last sentence of this definition, on which the improvements (other than tenant improvements on unoccupied space) related to the development have not been completed. The term “Development Property” shall include real property of the type described in the immediately preceding sentence that satisfies both of the following conditions: (i) it is to be (but has not yet been) acquired by the Borrower, any Subsidiary or any Unconsolidated Affiliate upon completion of construction pursuant to a contract in which the seller of such real property is required to develop or renovate prior to, and as a condition precedent to, such acquisition and (ii) a third party is developing such property using the proceeds of a loan that is Guaranteed by, or is otherwise recourse to, the Borrower, any Subsidiary or any Unconsolidated Affiliate. A Development Property on which all improvements (other than tenant improvements on unoccupied space) related to the development of such Property have been completed for at least 12 months shall cease to constitute a Development Property notwithstanding the fact that such Property has not achieved an Occupancy Rate of at least 80.0%.