Expansion Parcel definition

Expansion Parcel means an unimproved area or areas of any Individual Property on which Rents are not payable and Improvements (other than utilities and the like that are permitted pursuant to a recorded agreement) are not situated, which area or areas are not necessary for the use and operation of the remainder of such Individual Property (except to the extent such use or operation is permitted pursuant to a separate agreement), are designated by Borrower for expansion or any other reasonable business purpose in order to service any customer or prospective customer of Borrower or any Affiliate of Borrower, the transfer and separate development of which would not, in Borrower’s judgment (provided Borrower has certified the same) materially adversely affect the value of the remaining portion of such Individual Property or the Underwritable Cash Flow from the remaining portion of such Individual Property (taking into account, to the extent applicable, any potential loss of revenue resulting if the transfer and development of the Expansion Parcel were not to occur).

Expansion Parcel means that certain real property which will, after recordation of the final, Parcel Map, be identified as Parcel 2 of Parcel Map 35629, and consisting of approximately 22.37 acres, which real property comprises a portion of the Property and is the “Expansion Area” under the Lease. Notwithstanding the foregoing, it is understood and agreed that prior to the date that the final parcel map records, the Expansion Parcel shall be established by lot line adjustments and therefore may not contain exactly the amount of acreage or be in exactly the same configuration as it will be in after the final parcel map records.

Expansion Parcel means, with respect to a Mortgaged Property, any parcel of land, together with any improvements thereon located, that (a) constitutes an integral part of, or adjoins, such Mortgaged Property, (b) is not owned by a Property Owner on the Agreement Date and (c) is not an Acquired Parcel.

Examples of Expansion Parcel in a sentence

• If a defined Expansion Parcel is neither designated with an MPD Overlay on the City’s Comprehensive Plan Future Land Use Map nor is zoned MPD, then a Comprehensive Plan Amendment and rezone shall be required.

• New Owner III shall not be responsible for any failure of Owner (or any tenant thereof) of the remainder of the Property other than the New Owner III Parcel or the New Owner III Expansion Parcel to pay real estate taxes or for any code violations or Owner’s defaults under the Agreement on or related to such remainder of the Property.

• If the Expansion Parcel is developed for the tenant under the Lease, then the Company shall cause the T2 Subsidiary to enter into the development management agreement described in Section 7.1.1(c) with respect to developing the Expansion Parcel.

• The total purchase price ("Purchase Price") for the Property shall be Six Million Two Hundred and Eighty Thousand Four Hundred Ninety-Six and no/100 Dollars ($6,280,496.00), consisting of $4,541,949.50 for the Build-to-Suit Parcel, Site Work Improvements and Building Shell Improvements; $1,043,000 for the Interior Improvements and $695,546.50 for the Expansion Parcel.

• The expansion has been designed to protect the isolated poor fen on the Expansion Parcel.

More Definitions of Expansion Parcel

Expansion Parcel is defined in the recitals of this Lease.

Expansion Parcel shall have the meaning set forth in Section 3.2 of this Agreement.

Expansion Parcel means (i) any air rights with respect to that certain parcel more particularly set forth on Exhibit B-1 attached hereto and (ii) such portions of the concourse level immediately below the air-rights parcel set forth in clause (i) above and as more particularly set forth on Exhibit B-2 attached hereto (but specifically excluding (x) any portion of such concourse area which includes any space demised to a Tenant if such Tenant’s entire leased premises is not included in the Expansion Parcel (provided, however, this clause (x) shall not apply to any Tenant located within the Expansion Parcel which also leases space in the Remaining Property so long as such Leases are separate and distinct and the Expansion Parcel Release does not give rise to any termination, off-set or abatement right of such Tenant with respect to such Tenant’s Lease of space in the Remaining Property) and (y) any parking facilities at the Property (provided, however, this clause (y) shall in no way limit any right of Borrower to grant Release Transferee easement rights with respect to other portions of the Remaining Property, including, any parking areas, in accordance with any Shared Facilities REA).

Expansion Parcel means that parcel labeled "ComStream Expansion Parcel" on Exhibit A hereto. --------- "First Amendment" shall mean that certain First Amendment to the Partnership Agreement to be entered into by and among KR and the Members listed on the signature pages thereto.

Expansion Parcel means an area of the Collateral Asset cross-hatched on Exhibit D attached hereto and marked as "Part of Tract A" (or such lesser area within such cross-hatched area necessary to construct the proposed improvements described in Article 11 hereof and to provide parking adjacent to such improvements necessary for the use and operation of such improvements).

Expansion Parcel means that certain undeveloped portion of the Land identified as Tax Lot No. 3400 on the tax map filed in the County Assessor's Office for Lane County, Oregon.

Expansion Parcel means an area of the Property cross-hatched on Schedule VIII hereto and marked as "Release Parcel" (or such lesser area within such cross-hatched area necessary to construct the proposed improvements described in Section 11.29 hereof and to provide parking adjacent to such improvements necessary for the use and operation of such improvements).