Budgeted Project Costs means with respect to Properties under ---------------------- Development, the budgeted cost of completion of such Properties under Development, provided that the budgeted costs shall include projected operating deficits through completion and the projected date of occupancy of seventy-five percent (75%) of the dwelling units and provided further that, for Properties under Development by Investment Affiliates, the Budgeted Project Costs shall be the Borrower's share of the budgeted costs of completion (based on the greater of (x) the Borrower's percentage equity interest in the Investment Affiliates or (y) the Borrower's obligation to provide funds to the Investment Affiliates, which could include, for example, completion guaranties).
Budgeted Project Costs means, with respect to Construction-In-Process, the total budgeted project cost of such Construction-In-Process;provided that for Construction-In-Process owned by any Partially-Owned Entity, the Budgeted Project Cost of such Construction-In-Process shall be the applicable Obligor’s pro- rata share of the total budgeted project cost of such Construction-In-Process (based on the greater of (x) such Obligor’s percentage equity interest in such Partially- Owned Entity or (y) the Obligor’s obligation to provide or liability for providing funds to such Partially-Owned Entity).
Budgeted Project Costs means, with respect to Construction-In-Process, the total budgeted project cost of such Construction-In-Process; provided that for Construction-In-Process owned by any unconsolidated Partially-Owned Entity, the Budgeted Project Cost of such Construction-In-Process shall be the applicable Obligor's pro-rata share of the total budgeted project cost of such Construction-In-Process (based on the greater of (x) such Obligor's percentage equity interest in such unconsolidated Partially-Owned Entity or (y) the Obligor's obligation to provide or liability for providing funds to such unconsolidated Partially-Owned Entity).
Examples of Budgeted Project Costs in a sentence
As at the end of any fiscal quarter or other date of measurement, the Borrowers shall not permit (a) the sum of (i) the book value of Unimproved Land, plus (ii) the aggregate Budgeted Project Costs of all Construction-in-Process, plus (iii) the book value of Indebtedness of third parties to the Borrowers or their Subsidiaries or the pro-rata share allocable to Partially-Owned Entities for borrowed money or other cash or cash equivalents, whether secured or unsecured, to exceed (b) 20% of Gross Asset Value.
For purposes of determining Unfunded Excess Project Costs, the proceeds of borrowings by the Company shall be deemed to be applied first to Budgeted Project Costs, irrespective of how said proceeds may be allocated as between the Company and the lenders in question.
An amount equal to the Budgeted Project Costs for the acquisition or development of a Property, minus the amount of Project Financing to be obtained by the Company with respect to such Property, all as Approved by HSRE.
Loss of or damage to the Insured Vehicle caused by the Insured Vehicle being used or driven after an accident, theft or breakdown.
As at the end of any fiscal quarter and any other date of measurement, the Obligors shall not permit the aggregate Budgeted Project Costs of all Construction-in-Process to exceed 10% of Gross Asset Value.
More Definitions of Budgeted Project Costs
Budgeted Project Costs means with respect to Properties under ---------------------- Development, the budgeted cost of completion of such Properties under Development, provided that the budgeted costs shall include projected operating deficits through completion and the projected date of occupancy of seventy-five percent (75%) of the dwelling units and provided further that, for Properties under Development by Investment Affiliates, the Budgeted Project Costs shall be the Borrower's share of the budgeted costs of completion (based on the greater of (x) the Borrower's percentage equity interest in the Investment Affiliates or (y) the Borrower's obligation to provide funds to the Investment Affiliates, which could include, for example, completion guaranties or similar obligations, provided that, in any case where a completion guaranty or similar obligation exists, the Budgeted Project Costs shall be determined based upon Borrower's percentage equity interest in the applicable Investment Affiliate plus the amount of any claims made on such completion guaranty or similar obligation).
Budgeted Project Costs is hereby amended to provide in full as follows:
Budgeted Project Costs means, with respect to Properties Under Development, the budgeted cost of construction and final completion of such Properties Under Development; provided that the Budgeted Project Costs shall include projected operating deficits through completion and the projected date of occupancy of eighty-five percent (85%) of the gross leasable space; provided further that, with respect to Properties Under Development by Minority Interest Entities, the Budgeted Project Costs shall be the applicable Consolidated Party's share of the budgeted costs of construction and final completion (based on the greater of (x) the Minority Interest of such Consolidated Party or (y) such Consolidated Party's obligation to provide funds to the Minority Interest Entity, which could include, for example, completion guaranties).
Budgeted Project Costs means, with respect to Construction-In-Process, the total budgeted project cost of such Construction-In-Process; provided that for Construction-In-Process owned by any Partially-Owned Entity, the Budgeted Project Cost of such Construction-In-Process shall be the applicable Obligor's pro-rata share of the total budgeted project cost of such Construction-In-Process (based on the greater of (x) such Obligor's percentage equity interest in such Partially-Owned Entity or (y) the Obligor's obligation to provide or liability for providing funds to such Partially-Owned Entity).
Budgeted Project Costs means, with respect to Properties Under Development, the budgeted cost of construction and final completion of such Properties Under Development (including contingency amounts, whether or not spent); provided that the Budgeted Project Costs shall include projected operating deficits through completion and the projected date of occupancy of eighty-five percent (85.0%) of the gross leasable space.
Budgeted Project Costs means, with respect to Properties Under Development, the budgeted cost of construction and final completion of such Properties Under Development; provided that the Budgeted Project Costs shall include projected operating deficits through completion and the projected date of occupancy of eighty-five percent (85%) of the gross leasable space; provided further that, with respect to Properties Under Development by Minority Interest Entities, the Budgeted Project Costs shall be the applicable Consolidated Party’s share of the budgeted costs of construction and final completion (based on the greater of (x) the Minority Interest of such Consolidated Party or (y) such Consolidated Party’s obligation to provide funds to the Minority Interest Entity, which could include, for example, completion guaranties).
Budgeted Project Costs means the costs associated with acquisition of the Property and all budgeted Hard Costs and Soft Costs described as a line item in the Project Budget, including any Contingency Amount of budgeted Hard Costs and Soft Costs reviewed by the Project Monitor and approved by the Lender.