Land Parcels Clause Samples
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Land Parcels. Parcels of land owned by the Borrower or any of its Restricted Subsidiaries which are, as of the date of determination, not scheduled for commencement of development into Developed Lots during the twelve (12) calendar months immediately following such date of determination and which the Borrower has designated as "Land Parcels". An individual Land Parcel is sometimes referred to as a "Land Parcel."
Land Parcels. Those parcels of Land owned by the Partnership and (i) designated for sale or ground lease as described in the Development Budget or (ii) which are hereafter designated as Land Parcels by the General Partner.
Land Parcels. First Union acknowledges and agrees that if it elects to acquire the Group B Properties as contemplated by the first sentence of Section 3.2.1 hereof, the applicable Property Owner shall have the right to transfer the parcels identified on Exhibit F hereto to a separate entity and First Union shall have no rights with respect to such parcels.