Redevelopment Property Sample Clauses
The 'Redevelopment Property' clause defines what constitutes property subject to redevelopment within the context of an agreement. It typically specifies the boundaries, characteristics, or legal descriptions of the land or buildings that are eligible for redevelopment activities. For example, it may outline parcels of land within a certain district or properties meeting specific criteria, such as being underutilized or blighted. The core function of this clause is to clearly identify which properties are included in the redevelopment scope, thereby preventing disputes and ensuring all parties understand the extent of the redevelopment project.
Redevelopment Property. Any Real Estate which is not Under Development and (1) is undergoing a significant Capital Improvement Project and (2) is designated as a Redevelopment Property by Borrower and approved by Agent, such approval not to be unreasonably withheld.
Redevelopment Property. Any Real Estate which is improved as an Industrial Property where more than twenty percent (20%) of the Net Rentable Area of such Real Estate is vacant due to renovations being made at such Real Estate exclusive of tenant improvement work.
Redevelopment Property. Exhibit A to the Preliminary Development Agreement is deleted and is replaced with Exhibit A attached hereto and incorporated hereby reference, with the result that the Redevelopment Property is that described on Exhibit A attached hereto.