Completed Value definition

Completed Value means the total value of all Covered Property (including buildings, fen- ces, foundations, underground pipes, drains, paving and pilings that are a permanent part of the covered job) when the job will have been finished at the end of the construction period. The "Completed Value" includes labor, cost of materials and the contractors reasonable overhead and profit.

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Completed Value form or substantially similar policy form) in amounts equal to the replacement costs of the Improvements (including construction materials and personal property on or off site) covering insurance risks no less broad than those covered under a Standard Multi Peril (SMP) policy form, which contains a 1987 Commercial ISO "Causes of Loss-Special Form", with coverage for such other expenses as Lender may reasonably require. Such insurance shall contain an agreed amount endorsement and bear a 100% co-insurance clause.

Completed Value means $400,000,000, representing the "completed value" of Borrower's interest in the Property, as set forth in the appraisal delivered pursuant to paragraph (8) of Section 4.01.

Examples of Completed Value in a sentence

During the Construction Period, such policy shall be written in the so-called “Builder’s Risk Completed Value Non-Reporting Form” and shall contain a provision granting the insured permission to complete and/or occupy.
When this contract or agreement includes the construction of and/or the addition to a permanent structure or building; including the installation of machinery and/or equipment, the following insurance coverage must be afforded: Coverage Form: Completed Value, All Risk in an amount equal to 100% of the value upon completion or value of equipment to be installed.
During any construction period, such policy shall be written in the so-called “Builder’s Risk Completed Value Non-Reporting Form” with no coinsurance requirement and shall contain a provision granting the insured permission to occupy prior to completion.
During the construction of the Facility, such policy shall be written in the so-called “Builder’s Risk Completed Value Non-Reporting Form” and shall contain a provision granting the insured permission to complete and/or occupy.
A Builders Risk Completed Value Hazard Insurance policy, including, without limitation, such endorsements as Lender may require, insuring Lender against damage to the Property and Improvements in an amount acceptable to Lender.
A Builders All Risk/Special Form Completed Value (Non-Reporting Form) Hazard Insurance policy, including without limitation, theft coverage and such other coverages and endorsements as Lender may require, insuring Lender against damage to the Property and Improvements in an amount not less than 100% of the full replacement cost at the time of completion of the Improvements.
During any Construction Period, such policy shall be written in the so-called “Builder’s Risk Completed Value Non-Reporting Form” and shall contain a provision granting the insured permission to complete and/or occupy.
The Contractor shall provide “Fire and Extended Coverage” on a percent basis, (Completed Value Form), on the insurable portion of the entire Project.
Upon Substantial Completion, coverage may shift to property insurance Form: Builders All Risk (BAR) Completed Value Form.
Coverage shall be “All Risks,” Completed Value form with a deductible not to exceed Ten Thousand Dollars ($10,000) each claim for all perils except wind and flood.

More Definitions of Completed Value

Completed Value means the total value of the Covered Property (including building, fen- ces, foundations, underground pipes, drains, paving, pilings and attached retaining walls that are a permanent part of the covered residen- tial building and appurtenant structures includ- ing swimming pools), when the job will have been finished at the end of the construction period. "Completed Value" includes the cost of labor, the cost of materials and the contrac- tor's reasonable overhead and profit.