A&D Lot definition

A&D Lot means an individual Lot designated on a subdivision plat or map (whether preliminary or final) for a subdivision under development by Borrower or a Project Owner that is zoned by a Government Authority as a use by right by the municipality in which such real property is located for residential building and use, and with respect to which the Borrower or such Project Owner is actively developing into a Finished Lot. Unless the context otherwise requires, the term “A&D Lot” refers to the Lot prior to a transfer of the Lot for Unit construction and inclusion of the Lot in Eligible Assets as a Unit.

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A&D Lot means a lot shown on an approved, vesting preliminary subdivision plat or tentative map for Entitled Land, which Entitled Land constitutes an Approved Subdivision which is not included in Eligible Collateral as Pre-Development Land or Units and with respect to which Borrower has satisfied the conditions precedent set forth in Section 4.2.

A&D Lot means an individual Lot designated on a subdivision plat or map (whether preliminary or final) for a subdivision under development by Borrower or a Project Owner that is zoned by a Government Authority as a use by right by the municipality in which such real property is located for residential building and use, and with respect to which Borrower or such Project Owner is actively developing into a Finished Lot. Unless the context otherwise requires, the term “A&D Lot” refers to the Lot prior to a transfer of the Lot for Unit construction and inclusion of the Lot in Eligible Assets as a Unit.

Examples of A&D Lot in a sentence

The portion of any A&D Lot Development Budget and Unit Budget attributable to “soft costs” and “hard costs” line items will be limited to the lesser of (i) the actual costs, expenses, and fees incurred by Borrower; and (ii) the amounts allocated for such costs, expenses, and fees in the line items in the A&D Lot Development Budget or each Subdivision’s Unit Budgets.
Borrower will perform all of Borrower’s obligations under any contracts and agreements relating to the construction of Units and A&D Lot Improvements and will pay all amounts thereunder as and when due, except to the extent such amounts are contested in accordance with the definition of “Permitted Exceptions”.
Borrower will be the sole owner of all A&D Lot Development Plans and Specifications or, to the extent that Borrower is not the sole owner of such A&D Lot Development Plans and Specifications, Borrower will have the unconditional right to use such A&D Lot Development Plans and Specifications in connection with the construction of Approved Subdivisions.
The contract price in each such agreement, document, and instrument must be within the budgeted amount in the applicable A&D Lot Development Budget.
Lender will have the right at any time and from time to time to review and verify all costs, expenses, and fees in each Unit Budget and each A&D Lot Development Budget.
For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include the most recent copy filed with the Commission pursuant to its Electronic Data Gathering, Analysis, and Retrieval system, or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, “▇▇▇▇▇”).
Each A&D Lot may be included in Eligible Assets as an A&D Lot for not more than twenty-four (24) months from the date such A&D Lot was first included in the Eligible Assets as an A&D Lot.
Lender will have no obligation to Borrower to ensure compliance by contractor, engineer, or any other Person in carrying out construction of the Units or A&D Lot Improvements.
Administrative Agent will not be restricted in any way in use of such A&D Lot Development Plans and Specifications in connection with the construction of any Lot Improvements, and Borrower (or the applicable Project Owner) will obtain all consents and authorizations necessary for the use of such A&D Lot Development Plans and Specifications by Administrative Agent.
Borrower shall have commenced staking and rough grading of the Approved Subdivision and shall have certified to Lender that such staking and rough grading will be completed within thirty (30) days at which time Borrower will proceed with the construction of other A&D Lot Improvements.

More Definitions of A&D Lot

A&D Lot means an individual Lot in an Approved Subdivision as designated on a subdivision plat or map (whether preliminary or final) for the Approved Subdivision which is acquired in an unfinished or substantially unfinished condition and is included or to be included in the Eligible Assets for development of the Lot Improvements in an Approved Subdivision. Unless the context otherwise requires, the term “A&D Lot” refers to the Lot in an Approved Subdivision prior to a transfer of the Lot for Unit construction and inclusion of the Lot in Eligible Assets as a Unit.

A&D Lot refers to the Lot prior to a transfer of the Lot for Unit construction and inclusion of the Lot in Eligible Assets as a Unit.

A&D Lot means an individual Lot in an Approved Subdivision within the Premises as designated on a subdivision plat or map (whether preliminary or final) for the Approved Subdivision which is acquired in an unfinished or substantially unfinished condition and is included or to be included in the Eligible Collateral for development of the Lot Improvements in an Approved Subdivision. Unless the context otherwise requires, the term “A&D Lot” refers to the Lot in an Approved Subdivision prior to a transfer of the Lot for Unit construction and inclusion of the Lot in Eligible Collateral as a Unit.