Approved Property means all Assessor's Parcels of Taxable Property that (i) are associated with a Lot in a Final Map that was recorded prior to the January 1st preceding the Fiscal Year in which the Special Tax is being levied and (ii) have not been issued a building permit prior to the May 1st preceding the Fiscal Year in which the Special Tax is being levied.
Approved Property means all Assessor’s Parcels of Taxable Property that are included in a Final Map that was approved by the agency having authority to approve such map. Such Assessor’s Parcels are Approved Property as of the date of such approval.
Approved Property means, for each Fiscal Year, all Taxable Property, exclusive of Developed Property, Taxable Free Standing Parking Property, and Taxable Public Property, for which a final parcel map or final subdivision map has been recorded.
Examples of Approved Property in a sentence
Each property manager that satisfies the requirements of this Section 26.01 shall be an “Approved Property Manager” and any management agreement between Tenant and an Approved Property Manager with respect to the Project shall be a “Management Agreement”.
Acquisition of an Existing Approved Property An individual or group that acquires an existing approved property must apply to become an “approved” owner and to retain the “approved” status of the property.
Tenant shall not enter into a management agreement with a new third-party property manager or consent to the assignment by an Approved Property Manager of its interest under its Management Agreement, without first complying with the notification and verification requirements set forth in this Section 26.01.
At all times, Borrower shall cause the Property and any improvements thereon to be managed by an Approved Property Manager.
Tenant shall not enter into a management agreement with a new third- party property manager or consent to the assignment by an Approved Property Manager of its interest under its Management Agreement, without first complying with the notification and verification requirements set forth in this Section 26.01.
More Definitions of Approved Property
Approved Property means a Housing property for which a Property Acquisition Package has been received and accepted by the City as suitable for purchase under the MURA Program.
Approved Property means an Assessor’s Parcel in CFD No. 13 which represents a Lot in a Final Subdivision Map that was recorded prior to January 1 of the prior Fiscal Year, but for which a Building Permit has not been issued on or before May 1 of the prior Fiscal Year. Notwithstanding the above, once an Assessor’s Parcel has been classified Approved Property, it shall remain Approved Property until such time as a Building Permit is issued.
Approved Property means a Real Property (a) which has been approved by the Administrative Agent and (if necessary) the Required Lenders as such pursuant to Section 7.12 hereof, and (b) for which there exists an executed first-priority (subject to Permitted Liens and other encumbrances acceptable to the Administrative Agent, in its discretion) Mortgage Instrument and Assignment of Leases in favor of the Collateral Agent (for the benefit of the Secured Parties); and “Approved Properties” means a collective reference to each Approved Property existing as of a given date; provided, that a property which is an “Approved Property” shall fail to continue to qualify as such upon the occurrence of any of the following: (i) the Mortgage Instrument or Assignment of Leases with respect to such Approved Property ceases to be in full force and effect or otherwise ceases or fails to create a first priority Lien in favor of the Administrative Agent in the applicable fee or ground leased interest in the Approved Property or the related rents and profits derived therefrom (subject to Permitted Liens and other encumbrances acceptable to the Administrative Agent, in its discretion and provided, that such Mortgage Instruments and Assignments of Leases shall only be recorded to the extent required pursuant to Section 7.12 hereof); (ii) the Occupancy Rate for such Approved Property drops below 50.0%; (iii) there occurs a casualty or condemnation event with respect to such Approved Property which affects a material portion thereof (as determined by the Administrative Agent, in its discretion); (iv) such Approved Property ceases to be either (A) 100% owned in fee simple or (B) 100% ground leased pursuant to an Eligible Ground Lease or pursuant to the terms of an Approved Bond Transaction, in each case, by a Credit Party with no non-Credit Party equity holders; (v) casualty insurance with respect to such Approved Property ceases to be in full force and effect; (vi) there exists any conditions with respect to such Approved Property that are reasonably likely to result in material liability under any Environmental Law; or (vii) such Approved Property is designated as a Flood Hazard Property and proper flood insurance is not promptly procured by the applicable Credit Party with respect thereto.
Approved Property means a Lot for which a building permit has not been issued prior to June 1 preceding the Fiscal Year in which the Special Tax is being levied.
Approved Property means, for each Fiscal Year, all Taxable Property, exclusive of Developed Property, Taxable Property Owner Association Property, and Taxable Public Property, for which a Final Map was recorded prior to January 1 of the previous Fiscal Year.
Approved Property means, for each Fiscal Year, all Taxable Property for which a Development Agreement was executed and delivered by the City after August 24, 2004 and prior to March 1 of the previous Fiscal Year and which is not classified as Developed Property.
Approved Property has the meaning given to that term in Clause 22.6 (Approved Properties). Architect means, in relation to a Property, any firm of architects appointed by an Obligor in respect of the Development of that Obligor’s Property. Asset Company means, in relation to a Property, the Guarantor (excluding the Company, the Borrower and each Managing Company) incorporated in the jurisdiction where the Property that it legally and beneficially owns, is located. Attributable Commitment means, subject to Clause 2.2 (Reduction of Commitment) and Clause 22.6 (Approved Properties), in respect of a Property, an amount of the Total Commitments that were allocated to that Property for its Development as set out in the approved Real Estate Package for that Property.