Construction Asset definition

Construction Asset has the meaning set forth in the definition of the term “Construction Asset Cost”.

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Construction Asset means any Property which is raw land, vacant out-parcels or Real Estate Under Construction.

Construction Asset. (i) in the case of the development and construction by AMB LP in clause (a) of the definition of Development Activity, the aggregate, good faith estimate of the total cost to be incurred by AMB LP in the construction of such improvements (including land acquisition costs); (ii) in the case of the development and construction by a Joint Venture Subsidiary or a Consolidated Subsidiary of AMB LP described in clause (a) of the definition of Development Activity, an amount equal to AMB LP’s Share of the aggregate, good faith estimate of the total cost to be incurred by such Joint Venture Subsidiary or such Consolidated Subsidiary, as applicable, in the construction of such improvements (including land acquisition costs); (iii) in the case of the financing of any development and construction by AMB LP, the amount AMB LP has committed to fund to pay the cost to complete such development and construction; (iv) in the case of the financing of any development and construction by a Joint Venture Subsidiary or a Consolidated Subsidiary of AMB LP, an amount equal to AMB LP’s Share of the amount such Joint Venture Subsidiary or such Consolidated Subsidiary, as applicable, has committed to fund to pay the cost to complete such development and construction; (v) in the case of the incurrence of any Contingent Obligations in connection with any development and construction by AMB LP, the amount of such Contingent Obligation of AMB LP; and (vi) in the case of the incurrence of any Contingent Obligations in connection with any development and construction by a Joint Venture Subsidiary (or a Consolidated Subsidiary) of AMB LP, an amount equal to AMB LP’s Share of the amount of such Contingent Obligation of such Joint Venture Subsidiary or such Consolidated Subsidiary, as applicable.

Examples of Construction Asset in a sentence

For purposes of this Section 8.18 the book value of any New Construction Assets not owned 100%, directly or indirectly, by the Borrower or any of its Subsidiaries shall be adjusted by multiplying the same by the Borrower’s Interest in such New Construction Asset during the fiscal quarter of the Borrower ending as of any date of determination of such book value.
For the purposes of the foregoing calculation, a Construction Asset shall not include any Property that is eighty-five percent (85%) or more leased to tenants that are unaffiliated with AMB LP.
For purposes of this Section 8.18, the book value of any New Construction Assets not owned 100%, directly or indirectly, by the Borrower or any of its Subsidiaries shall be adjusted by multiplying the same by the Borrower’s Interest in such New Construction Asset during the fiscal quarter of the Borrower ending as of any date of determination of such book value.
Construction Asset Costs of the Borrower and its Subsidiaries shall at no time exceed five percent (5%) of Combined Gross Asset Value.
Construction Asset Cost (including, without limitation, Construction Asset Cost attributable to Foreign Property Interests) of AMB LP, AMB and the Consolidated Subsidiaries, without duplication, shall not exceed twenty percent (20%) of Total Asset Value.
This compliance team will be comprised of career personnel designated from each of PRPHA’s office divisions, including Admissions and Occupancy, Legal Counsel, Finance and Administration, VCA Administrator, Project Development and Construction, Asset Management, and Regulations and Compliance.
Construction Asset Cost (including, without limitation, Construction Asset Cost attributable to Foreign Property Interests) of the Borrower, the General Partner and the Consolidated Subsidiaries, without duplication, shall not exceed fifteen percent (15%) of Total Asset Value.
For purposes of this Section 8.18 the book value of any New Construction Assets not owned 72 100%, directly or indirectly, by the Borrower or any of its Subsidiaries shall be adjusted by multiplying the same by the Borrower's Interest in such New Construction Asset during the fiscal quarter of the Borrower ending as of any date of determination of such book value.
Construction Asset Costs of the Borrower, the General Partner and their Subsidiaries shall at no time exceed five percent (5%) of Combined Gross Asset Value.
For the purposes of the foregoing calculation, a Construction Asset shall not include any Property that is eighty-five percent (85%) or more leased to tenants that are unaffiliated with Borrower.

More Definitions of Construction Asset

Construction Asset any GGP Property which is raw land, vacant out-parcels or Real Estate Under Construction.

Construction Asset means any Facility in which any AAGES Company holds a direct or indirect Financial Interest, that at such time has not become an Operating Facility, and for which either (a) funds have become available for the construction of such Facility under a construction financing agreement with a Financing Party, or (b) a full notice to proceed has been issued under the construction contract that provides for the construction and commissioning of such Facility, which notice unconditionally authorizes the counterparty to such construction contract to immediately commence construction of such Facility.

Construction Asset means any Real Property Asset on which construction of improvements has commenced (such commencement evidenced by foundation excavation) but has not yet been completed (as such completion shall be evidenced by such Real Property Asset being open for business to the general public).

Construction Asset means an Infrastructure Debt Obligation, of which the underlying project is in its construction phase or in its first three years of full operation, provided that an Infrastructure Debt Obligation, of which the project is in full operation as at the date of purchase, is not a Construction Asset.

Construction Asset means any Facility in which any AQN Company holds a direct or indirect Financial Interest, that at such time has not become an Operating Facility, and for which either (a) funds have become available for the construction of such Facility under a construction financing agreement with a Financing Party, or (b) a full notice to proceed has been issued under the construction contract that provides for the construction and commissioning of such Facility, which notice unconditionally authorizes the counterparty to such construction contract to immediately commence construction of such Facility.