Base Land Value definition

Base Land Value means $28,122,900.
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Base Land Value means $28,122,900. c. “Capitalized Costs” shall include the purchase price paid for the acquisition of the ▇▇▇▇▇▇ Property, which property is described on Annex 1 attached hereto, plus any and all costs incurred and capitalized by Limoneira in accordance with United States generally accepted accounting principles in connection with the Project up to and including the determination of the Property Value, including, but not limited to costs of architects, engineers and other third party consultants, legal fees relating to the entitlement of the Property and acquisition of the ▇▇▇▇▇▇ Property, management fees paid to Parkstone, and any improvements made to the Property not related to its current agricultural use. - 3 - d. “Property Value” shall mean: (i) if established prior to the sale of any portion or all of the Property, the Appraised Value; (ii) in the event of a sale of 100% of the Property before an Appraised Value is established, the aggregate sale price of the Property; or (iii) in the event of a sale of less than 100% of the Property or a Third Party Investment before an Appraised Value is established then the sale price of that portion of the Property sold or, in the case of a Third Party Investment, the value of the Property as agreed by Limoneira and the applicable Third Party Investor for purposes of quantifying the Third Party Investment, will be used to determine the value of 100% of the Property, based on prorata acreage, unless either party objects thereto based on the reasonable belief that such value is not representative of the Property as a whole (e.g., land use of that portion carries a higher or lower value relative to the whole, or the location of such property is more or less desirable than all of the Property taken as a whole), and in such event the Appraised Value shall be used to determine the Property Value. e. “Selling Costs” shall mean any and all costs incurred by the Seller in connection with or relating to the sale of the Property, including, but not limited to, title insurance, survey, broker commissions, transfer taxes, recording costs, attorneys’ fees relating to the sale and costs to cure any title or survey objections by the buyer.
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Base Land Value means $[for Grapevine: $16,500,000.00; for Plano: $34,000,000.00], which amount represents the parties determination of the fair market value of the Land as of the Effective Date (and, for clarity, does not include the value of Improvements); provided, however, if the Significant Condemnation occurs on or after the first day of the second Lease Year, then, for purposes of calculating the Condemnation Adjustment Amount, the Base Land Value shall be deemed to have escalated by the same percentage increase in Base Rent that has occurred up to and including the date of the Significant Condemnation, pursuant to the provisions of Section 4.1 of this Lease.
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Examples of Base Land Value in a sentence

  • In addition to Annual Adjustments, a new Base Land Value or fair market rental value for the Property shall be periodically established via an MAI appraisal, at the Port’s discretion ("Periodic Adjustments").

  • The cost of the actions described in Section 2.2 may be added to the Port’s Net Investment and Base Land Value.

  • However, if such Potentially Developable Land is made available for Development, the appropriate adjustment to Port’s Net Investment and Base Land Value will be made.

  • At the beginning of each year the Base Land Value for the Property and for each executed ground lease will be adjusted equal to any increase of the Consumer Price Index (CPI-U, West Region - Size Class A), as measured by the average annual CPI increase over the previous ten (10) years.

  • Base Land Value per square foot multiplied by the net developable square feet covered by the Ground Lease multiplied by Ground Lease Rate / 4 = Quarterly Ground Lease Payment.

  • The Annual Adjustment process shall not result in a reduction to the Base Land Value.

  • The Base Land Value per square foot of the Property shall be calculated as the Port’s net investment (or “basis”) in the property (total costs less associated revenues such as land sales) (this formula results in the “Base Land Value”).

  • For property sales, the Base Land Value shall be used, and shall be adjusted at the beginning of each year equal to any increase of the Consumer Price Index (CPI-U, West Region - Size Class A.), as measured by the average annual CPI increase over the previous ten (10) years.