Lot Cost definition

Lot Cost means, with respect to each Lot in question, the Lot Improvement Construction Costs incurred as of the date of determination allocable to such Lot, less (a) the amount of any write downs or impairments, and (b) the amount of any Governmental Authority reimbursements received by Borrower.
View Source
Lot Cost means the Dollars actually expended by Borrower for the hard costs necessary to acquire a Finished Lot. The Dollars expended by Borrower for sales commissions shall not be included in the determination of the Lot Cost for any Lot.
View Source

Examples of Lot Cost in a sentence

  • Optionor shall deliver to Optionee a written notice (the “Finished Lot Cost Differential Notice”) setting forth each Project Finished Lot Cost Differential, broken down by line item, not less than five (5) Business Days before the Closing [(as may be extended in connection with the parties’ determination of each Project Finished Lot Cost Differential, as set forth in the definition of such term)].

  • Each Optionor shall deliver to Optionee a written notice (the “Finished Lot Cost Differential Notice”) with respect to the Eligible Properties in which it owns an interest, setting forth each Project Finished Lot Cost Differential, broken down by line item, not less than five (5) Business Days before the Closing [(as may be extended in connection with the parties’ determination of each Project Finished Lot Cost Differential, as set forth in the definition of such term)].

  • Subject to clause (d) above [Loan Payment Priority], for purposes of calculating the Excess Profit as of the end of each year, Total Proceeds received in each year will first be applied to reduce the Lot Cost Basis Interim Balance until the Lot Cost Basis Interim Balance in such year is reduced to zero.

  • Similarly, if the Developer Equity Balance is greater than zero in any calendar year, notwithstanding a reduction to zero in a prior year, Total Proceeds received in such year will be applied, after reduction of any positive Lot Cost Interim Balance in such year, to reduce the Developer Equity Balance to zero before any additional Excess Profit accrues.

  • COST TO COMPLETE - All-in Finished Lot Cost less costs incurred to date, including land acquisition cost and development cost.

  • Client may choose one of the following two cost basis options --- Tax Lot Cost Basis: The inclusion of tax lot cost detail for each ------------------ statement position.

  • If the Lot Cost Basis Interim Balance is greater than zero in any calendar year, notwithstanding a reduction to zero in a prior year, Total Proceeds received in such year will first be applied to reduce the Lot Cost Basis Interim Balance to zero before the Developer Equity Balance is further reduced.