Converted Property definition

Converted Property means, as of any date of determination, any Property that was a Non-Stabilized Property at the time such Property became a Financed Property and that is a Stabilized Property on such date of determination. For the avoidance of doubt, no Property that was at any point in time a Carry-Over Property may constitute a Converted Property unless otherwise approved in writing by the Administrative Agent in its sole discretion.
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Converted Property means each Eligible Property Under Contract in which, on or before the Closing, Optionor has acquired and owns a fee simple interest therein.
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Examples of Converted Property in a sentence

  • Within five (5) Business Days after Optionee’s receipt of a Notice of Acquisition, the parties hereto shall deliver, with respect to the applicable Converted Property, (x) a fully executed and notarized original Memorandum of Option and (y) a fully executed an notarized original Termination of Option.

  • From and after the Option Acceptance Date, promptly upon receipt of the Memorandum of Option and Termination of Option with respect to a Converted Property, Escrow Holder shall (x) at Optionee’s request, cause such Memorandum of Option to be recorded in the applicable county real property official records, and deliver conformed copies thereof to the parties hereto, and (y) cause Title Company to issue an Optionee Policy for such Converted Property.

  • From and after the Option Acceptance Date, at such time as a Property Under Contract becomes a Converted Property, Optionee shall deposit with Escrow Holder the Project Second Option Payment for such Converted Property in immediately available funds, and such Project Second Option Payment shall thereafter be treated as part of the Second Option Payment.

  • The Administrative Agent shall, from time to time upon satisfaction by the Loan Parties of each of the Converted Property Reserve Release Conditions (or at the time provided in Section 6.11(g)), instruct the Paying Agent in writing, as applicable, to remit to the Borrower Representative the Renovation Reserves with respect to any Converted Properties, to the extent any Renovation Reserves have been funded in cash and are held in the Renovation Reserves Account, from the Renovation Reserves Account.

  • In the event a Diamond Rebranded Sales Facility shall have been rebranded prior to an adjoining Diamond Property that has not yet been rebranded, any accommodation packages directing guests to such Diamond Rebranded Sales Facility shall not include accommodations at the unbranded Diamond Property and instead shall be limited to accommodations at one of the Hilton portfolio of brand properties (including, without limitation, any Diamond Converted Property) unless otherwise approved by Licensor.

  • The Interagency Agreement will provide for the conveyance of the Section 6(f) Converted Property to WSDOT and the granting of Temporary Construction Easements to allow for the construction of the SR 520 Project as planned.

  • Those transactions include: (1) the conveyance of fee title and the granting of temporary construction easements in the Section 6(f) Converted Property to WSDOT by the UW and the CITY; (2) the execution of quitclaim deeds in favor of WSDOT by UW and the CITY, as applicable, extinguishing any reversionary rights in the Section 6(f) Converted Property (not including the Remnant Properties); and (3) UW’s conveyance of fee title to the ▇▇▇▇▇▇ Site to the CITY.

  • Payment of water and wastewater connection fees will entitle the Converted Property to qualify for water and wastewater service from the City on the same terms and conditions applicable to existing customers/ratepayers, except as otherwise set forth herein.

  • The portions of the Trails that will be converted are referred to collectively as the “Section 6(f) Converted Property.” The Section 6(f) Converted Property is defined in Section 3.1.4 of this MOA and illustrated in Exhibit A.

  • For the first 24 months, the Initial Water Allocation and Initial Wastewater Allocation shall constitute the baseline (as defined in Municipal Code Section 13.16.060) for the Converted Property.

Related to Converted Property

  • Blighted property means property that meets any of the following criteria:

  • Affected Property means all real property at the Site and any other real property where EPA determines, at any time, that access or, land, water, or other resource use restrictions, and/or Institutional Controls are needed to implement the removal action, including, but not limited to, the following properties [insert property descriptions].

  • Restricted Property means (a) any property of the Company located within the United States of America that, in the opinion of the Company’s board of directors, is a principal manufacturing property or (b) any shares of capital stock or Debt of any Subsidiary owning any such property.

  • Protected Property means each property identified on Exhibit A hereto and each property acquired in Exchange for a Protected Property as set forth in Section 2.1(b).

  • Distributed Property shall have the meaning specified in Section 14.04(c).