Elected Property definition

Elected Property. The items of real property and personal property ---------------- that Holder intends to buy from Owner in accordance with this Section 12 after giving a Foreclosure Exercise Notice.
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Elected Property means eligible property within the meaning of subsection 85(1.1) of the Tax Act in respect of which an election has been or will be made as provided in Section 4.01.
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Examples of Elected Property in a sentence

  • If Holder elects to buy ------------------------------------- the Elected Property, the purchase and sale transaction will be consummated in accordance with the procedures described in Section 7.

  • The ---------------------------------------------------------- purchase price for the Elected Property will be equal to 80% of the fair market value of the Elected Property, as agreed to by Owner and Holder or, failing their agreement, as determined in accordance with Section 6.

  • But the purchase price will be reduced by the total costs (including attorneys' fees) that Holder incurs in connection with the purchase and sale of the Elected Property, to the extent that those costs exceed the costs that Holder would have incurred if Holder had purchased the Elected Property after Holder's exercise of the Right with respect to a Tendered Agreement for Owner's sale of the Elected Property.

  • If Holder elects to buy the Elected Property subject to a lien that secures a monetary obligation other than the Secured Obligation that was the subject of the Lien Enforcement Notice, Holder will receive a credit against the purchase price for the unpaid balance of that monetary obligation as of the date that Escrow closes.

  • If Holder elects to buy the Elected Property subject to the Lien that was the subject of the Lien Enforcement Notice, Holder will receive a credit against the purchase price for the Basic Loan Balance as of the date that Escrow closes.

  • Holder will have a period of time to close the purchase of the Elected Property that is equal to the longer of (i) 60 days after the opening of Escrow, (ii) 15 days after Holder receives the last Appraisal Report that may be required under Section 6.3, or (iii) the date on which Holder receives notice from the applicable governmental authority that the authority has transferred to Holder (or an affiliate of Holder) any Alcoholic Beverage License that is included in the Elected Property.

  • After the date hereof, TEL shall continue to use all reasonable endeavours (assisted if necessary by Newco) to obtain any outstanding landlord's consent at Newco's cost in respect of any Property (which is not an Elected Property) and keep Newco informed of progress in obtaining such consents.

  • If Holder elects to buy the Elected Property subject to the Lien that was the subject of the Lien Enforcement Notice.

  • Holder will have a period of time to close the purchase of the Elected Property that is equal to the longer of (i) 60 days after the opening of Escrow, (ii) 15 days after Holder receives the fast Appraisal Report that may be required under Section 6.3, or (iii) the date on which Holder receives notice from the applicable governmental authority that the authority has transferred to Holder (or an affiliate of Holder) any Alcoholic Beverage License that is included in the Elected Property.

Related to Elected Property

  • 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].

  • 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).

  • 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.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Contributed Property means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.5(d), such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.

  • Excepted Property has the meaning specified in the Granting Clauses of this Indenture.

  • Adjusted Property means any property the Carrying Value of which has been adjusted pursuant to Section 5.5(d)(i) or 5.5(d)(ii).

  • Specified Property means property for which an election has been made for a special elective benefit.

  • Covered Property is the address stated on your Agreement Coverage Summary Page. • “Domestic-grade” Items are those that were designated by the manufacturer, manufactured and marketed solely for installation and use in a residential single family dwelling.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

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

  • Acquired Property shall have the meaning set forth in Section 5.1.10(h)(i) hereof.

  • Transferred Property shall have the meaning specified in Section 2.1(a) hereof.

  • Excluded Property shall have the meaning set forth in the Security Agreement.

  • Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.

  • New property means (i) the assessed value, after final

  • After-Acquired Property means any and all assets or property acquired after the date of this Indenture, including any property or assets acquired by the Company or a Guarantor from another Guarantor, which in each case constitutes Collateral.

  • Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

  • Qualifying Property means a primary residence that a qualified applicant owned and occupied

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • of any Contributed Property means the fair market value of such property or other consideration at the time of contribution as determined by the General Partner using such reasonable method of valuation as it may adopt. The General Partner shall, in its discretion, use such method as it deems reasonable and appropriate to allocate the aggregate Agreed Value of Contributed Properties contributed to the Partnership in a single or integrated transaction among each separate property on a basis proportional to the fair market value of each Contributed Property.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;