Construction Property definition

Construction Property means a property owned by the Borrower or its Consolidated Subsidiaries or Investment Affiliates on which construction of improvements has commenced or been completed (as such completion shall be evidenced by a temporary or permanent certificate of occupancy permitting use of such property by the general public).

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Construction Property means Underlying Property for which the funds derived from the Underlying Note would be used to construct new improvements on the Underlying Property.

Construction Property means any Property the Lessor and the Lessee elect to make subject to the Construction Agency Agreement, as evidenced by the execution and delivery of a Construction Agency Agreement Supplement.

Examples of Construction Property in a sentence

• Property Manager will also prepare a written report to Company as deemed reasonably necessary regarding the progress of each Construction Property in a format to be approved by the Company.

• On such Scheduled Interest Payment Date, the Holder Property Cost and Holder Construction Property Cost shall be increased by the amount of Holder Yield added to the Holder Advance.

• Any amounts applied to reduce the Tranche A/B Property Cost of any Construction Period Property pursuant to this paragraph (d) shall also be applied to reduce the Tranche A/B Construction Property Cost of such Property until such Tranche A/B Construction Property Cost has been reduced to zero.

• On each such Borrowing Date, the Tranche A/B Property Cost and the Tranche A/B Construction Property Cost of each Construction Period Property shall be increased by an amount equal to the Allocated Interest paid on such date with respect to such Property.

• Any amounts applied to reduce the Holder Property Cost of any Construction Period Property pursuant to this paragraph (c) shall also be applied to reduce the Holder Construction Property Cost of such Property until such Holder Construction Property Cost has been reduced to zero Dollars ($0).

More Definitions of Construction Property

Construction Property means any Property (a) with respect to which actual construction or other physical development or redevelopment activities have commenced or are scheduled to commence in the next twelve months, and (b) for which no certificate of occupancy shall have been issued or received.

Construction Property means a Property (a) that is either (i) pre- --------------------- sold (subject only to completion of the improvements) to a third-party buyer satisfactory to the Banks under a signed sale agreement satisfactory to the Banks, in each case in their sole and absolute discretion, or (ii) pre-leased (subject only to completion of the improvements) to one or more third-party lessees satisfactory to the Banks under signed leases satisfactory to the Banks, in each case in their sole and absolute discretion, and (b) on which the Borrower intends to construct an industrial, manufacturing, research and development or warehouse distribution facility. A pre-leased Construction Property shall cease to be a Construction Property, and shall instead become an Industrial Property, upon (w) the recording of a notice of completion or comparable notice with respect to the improvements constructed on such Property, if and to the extent permitted in the jurisdiction in which such Property is located, (x) delivery to the Administrative Agent of reasonably satisfactory evidence of lien-free completion of such improvements, (y) the issuance of a certificate of occupancy or comparable permit for such improvements by the applicable Governmental Authority, if and to the extent available in the jurisdiction in which such Property is located, and (z) occupancy of such improvements by the lessee.

Construction Property mean individually, collectively and interchangeably any and all existing or future contracts or agreements of Grantor of any kind or nature dealing with the reconstruction of the New Orleans Fair Grounds Race Course in New Orleans, Louisiana, or with the related construction and/or modification of any new or existing facilities in any way related to racing or wagering activities or the administration thereof, any and all rights of Grantor in and to all goods, materials, equipment, machinery and/or inventory used and/or to be used in such construction activities provided for therein, whether located at the Fair Grounds Race Course at 1751 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇w Orleans,

Construction Property means a Property which (a) the Requisite Lenders (including the Lender then acting as Agent) have agreed to deem a Construction Property as provided in and subject to the provisions of Section 5.1.(a) and Section 5.1.(b), and (b) for which all of the applicable requirements contained in Section 5.1.(c) have been satisfied.

Construction Property means EPC Construction Property and GC Construction Property.

Construction Property means any Real Property (other than a Renovation Property) (a) with respect to which actual construction or other physical development activities have commenced or are scheduled to commence in the next twelve months, and (b) for which no certificate of occupancy shall have been issued or received.

Construction Property means each of the Bluegrass Valley II Property and the Lehigh Valley II Property.