Entitled Land. Fifty percent (50%) of the GAAP Value of all Entitled Land (subject to the twenty percent (20%) limitation specified in Section 3.5(b)(iii)); plus
Entitled Land. Any Entitled Land may be included in Eligible Assets as Entitled Land for not more than twenty-four (24) months from the date such Entitled Land was first included in the Eligible Assets as Entitled Land.
Entitled Land. Entitled Land means Entitled Commercial Land and Entitled Residential Land. Entitled Residential Land. Entitled Residential Land means unimproved and improved residential land owned by Borrower which is zoned to permit residential development (attached or detached), as a use by right (or comparable classification under local law).
Entitled Land. 31 (b) Lots Under Development....................................... 31 (c) Finished Lots................................................ 31 (d) Units........................................................ 31 5.3
Entitled Land. With respect to Entitled Land, the Maximum Allowed Advance for such Entitled Land.
Entitled Land. With respect to Entitled Land, the Maximum Allowed Advance shall be the lesser of (i) fifty percent (50%) of the Appraised Value, or (ii) fifty percent (50%) of the Acquisition Cost.
Entitled Land. Each Lot included in Entitled Land shall be included in Eligible Property for the period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Lot. After the expiration of the final A&D Lot Maturity Date, such Lot shall be excluded from Eligible Property; provided, however, that upon the conversion of any Lot that is Entitled Land to either a Developed Lot or a Lot Under Development, such converted Lot shall be included in Eligible Property for an additional period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Developed Lot or Lot Under Development.
Entitled Land. The lesser of fifty percent (50%) of the Appraised Value of the Entitled Land or fifty percent (50%) of the aggregate of the cost of the acquisition of the Entitled Land.
Entitled Land. With respect to Commercial Property and Developable Land not currently under development, forty percent (40%) of the acquisition cost of such Developable Land and forty percent (40%) of the book value of such Commercial Property. Provided, however, that:
