Carry Cost definition

Carry Cost means, collectively, real estate taxes, liability insurance premiums, interest on any acquisition loan and any special assessments by governmental authorities, each attributable to the tract of land in question for the period of time in question. For the purpose of calculation of the Contribution Value, Net Usable Acres shall be based upon the "Survey" (as defined in Paragraph 4 hereof), shall include acreage to be used for new roads and infrastructure necessary for development of the Property and shall not include any acreage in any area designated as flood plain.

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Carry Cost shall have the meaning given thereto in Section 3.4(d) of this Agreement.

Carry Cost means with respect to any applicable period of determination, all costs and expenses relating to the physical maintenance, real estate taxes and operating expenses of BPLP with respect to a Property, such Carry Cost to be set forth in reasonable detail and provided to Landis.

Examples of Carry Cost in a sentence

If the Carry Cost Reserve Account is not in Lender’s name, Lender shall have a perfected first priority security interest in the Carry Cost Reserve Account.
Carry Cost shall mean interest at a rate of 6.0% APR on all sums expended by Buyer (from the date of such expenditure until paid by the Commission) that ultimately are part of the Purchase Price at the City Closing.
All interest earned on the Carry Cost Reserve Account shall be allocated to Borrower for income tax purposes, but it shall be added to and disbursed as a part of the Carry Cost Reserve.
All Carry Cost Reserve funds in the Carry Cost Reserve Account shall be additional security for the Loan, and upon the occurrence of an Event of Default, Lender shall be authorized to apply such funds to Borrower’s obligations under the Loan Documents in such order and priority as Lender may elect in its sole discretion.
On the earlier of (i) such time as the Carry Cost Reserve that was funded on the Closing Date has been reduced to zero, and (ii) the date that is twelve (12) months following the Closing Date, Lender shall make a Loan Advance to fund into the Carry Cost Reserve an amount equal to Two Million Two Hundred Thousand and 00/100 Dollars ($2,200,000.00).
No Interest and Carry Cost Shortfall exists; (q) Compliance with Laws.
Borrower hereby assigns and grants Lender a security interest in the Carry Cost Reserve funds in the Carry Cost Reserve Account as security for payment and performance of Borrower’s obligations under the Loan Documents.
The Carry Cost Reserve Account shall be under the sole dominion and control of Lender.
In connection with a request for each Additional Advance, Borrower shall submit to Lender and Construction Consultant a draw request (each, a “Draw Request”) substantially in the form required pursuant to Section 2.1.5(b) not less than ten (10) Business Days (but not more than sixty (60) days) prior to the applicable Advance Date; provided that there shall be no more than one Draw Request for Approved Project Expenditures and no more than one Draw Request for Interest and Carry Cost in each calendar month.
So long as no Event of Default is continuing, any amount funded into the Unfunded Loan Proceeds Account (including any Extension Shortfall deposited therein and any amounts deposited therein by Mortgage Lender pursuant to Section 2.3.2 of the Mortgage Loan Agreement) shall be disbursed to Borrower on each Payment Date by Lender to pay Interest and Carry Cost Shortfalls, subject to the terms and conditions set forth in this Agreement with respect to Additional Advances to pay Interest and Carry Costs.

More Definitions of Carry Cost

Carry Cost means, collectively, fees and expenses incurred in acquisition (including brokerage fees), real estate taxes, liability insurance premiums, interest on any acquisition loan and any special assessments by governmental authorities.

Carry Cost means the sum of the expenditures incurred by Purchaser in connection with its ownership of the Hospital from the Closing Date, including without limitation the following: interest on indebtedness incurred to finance all or a portion of the Hospital Acquisition Cost; and ad valorem taxes, insurance, assessments, utilities, maintenance and repairs relating to Purchaser’s ownership of the Hospital.