Adjusted Book Value of Land Owned definition

Adjusted Book Value of Land Owned means, as of the last day of any fiscal quarter, (i) the book value of all land owned by the Borrower or any Guarantor at such date, including without limitation Land Under Development, Entitled Land and Finished Lots but excluding any parcel of land on which a Housing Unit is located, less (ii) an amount equal to the lesser of (A) fifty percent (50%) of the book value of the land component of all Housing Units with respect to which Housing Unit Closings occurred during the period of four consecutive fiscal quarters ending on such date and (B) fifty percent (50%) of Adjusted Consolidated Tangible Net Worth as of such date.
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Examples of Adjusted Book Value of Land Owned in a sentence

  • OPEC has suggested the global vehicle fleet will include 266m EVs by 2040.

  • At any time at which the Leverage Ratio, determined as of the last day of the most recent calendar quarter, exceeds 55%,, the Borrower will not permit the ratio of (i) the Adjusted Book Value of Land Owned to (ii) Adjusted Consolidated Tangible Net Worth, to exceed 1.25 to 1.00 (the “Land-Owned Test”).

  • Borrower will not at any time permit the ratio of (i) the Adjusted Book Value of Land Owned to (ii) Consolidated Tangible Net Worth, to exceed 1.25 to 1.00.

  • If the owner of a building within the scope of this Chapter has knowl- edge that they own such a building, then the failure of the Department to issue the notice required by this Section, or the failure of the owner to receive such a notice, shall not relieve the owner of the obligation to comply with the requirements of this Chapter within the time limits set forth in Table 34B-A.

  • Borrower will not at any time permit the ratio of (i) the Adjusted Book Value of Land Owned to (ii) Adjusted Consolidated Tangible Net Worth, to exceed 1.25 to 1.00.

Related to Adjusted Book Value of Land Owned

  • Adjusted Property means any property the Carrying Value of which has been adjusted pursuant to Section 5.5(d)(i) or 5.5(d)(ii).

  • Net Asset Value per Unit means, for each Class of Partnership Unit, the net asset value per unit of such Class of Partnership Unit, determined as of the last business day of each month as described in the Prospectus.