Lot Under Development definition

Lot Under Development means Eligible Land upon which the Borrower, a Wholly-owned Subsidiary or the Special Project Subsidiary has commenced, or intends to commence within 6 months of the date of original determination, grading and the installation of infrastructure; provided, such Eligible Land does not also qualify as a Finished Lot, Speculative Housing Unit or Housing Unit Under Contract; and provided further that if grading and the installation of infrastructure has not commenced within the above referenced 6 month period, such Eligible Land shall cease to qualify as a Lot Under Development, but may then qualify as Entitled Land, subject to the qualification criteria therefor; provided that grading and the installation of infrastructure must actually commence upon any such disqualified Property before it may again qualify as a Lot Under Development.
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Lot Under Development means a Lot which is not a Developed Lot, which may include lots which comprise Entitled Land and/or Pods.
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Examples of Lot Under Development in a sentence

  • If, after a parcel of land is designated a Lot Under Development, development of such parcel ceases for thirty (30) calendar days or more (other than by reason of a Force Majeure Delay), at the discretion of the Administrative Agent, the Loan Funding Availability for such parcel may be reduced to an amount determined by the Administrative Agent (which amount can be zero) until development of such Lot Under Development is resumed to the satisfaction of the Administration Agent.

  • G De Palo and LR Keller, “The Italian Mediation Explosion: Lessons in Realpolitik” (2012) 28 Negotiation Journal 181.

  • With respect to each Lot Under Development: (i) the Maximum Allowed Advance for such Lot MINUS the Land Allocation for such Lot, with the end result multiplied by the Completion Percentage; PLUS (ii) the Land Allocation for such Lot.

  • In the event that any such parcel is a Lot Under Development, Developed Lot or Dwelling Lot, then the Loan Funding Availability shall be immediately calculated excluding such parcel.

  • A unit-by-unit inventory summary of the Loan Inventory in form acceptable to Lender and certified as true and correct by an Executive Officer of the Borrower containing, at a minimum, the cost funded to date for each Dwelling Lot, each Development Lot and each Lot Under Development including, but not limited to those elements of cost set forth in Sections 1.1, 1.6 and 1.22 hereof.

  • Based upon the information in the Inventory Summary Report and the other information compiled by Administrative Agent, Administrative Agent shall determine, in its reasonable discretion, whether a Lot Under Development, Developed Lot or Dwelling Lot not previously designated as part of the Loan Inventory shall be designated part of the Loan Inventory and, if so, whether such Lot Under Development, Developed Lot, or Dwelling Lot shall be designated a Lot Under Development, Developed Lot, or Dwelling Lot.

  • A unit-by-unit inventory summary of the Loan Inventory in form acceptable to Lender and certified as true and correct by an Executive Officer of the Borrower containing, at a minimum, the cost funded to date for each Dwelling Lot, each Development Lot and each Lot Under Development including, but not limited to those elements of cost set forth in Sections 1.1, 1.3 and 1.16 hereof.

  • The total cost to the Town for the three-day seminar will be $ 1,260.00.

  • After the expiration of the final A&D Lot Maturity Date, such Lot shall be excluded from Eligible Property; provided, however, that upon the conversion of any Lot that is Entitled Land to either a Developed Lot or a Lot Under Development, such converted Lot shall be included in Eligible Property for an additional period commencing on the A&D Lot Eligibility Date and ending on the applicable A&D Lot Maturity Date for each said Developed Lot or Lot Under Development.

  • If, after a parcel of land is designated a Lot Under Development, development of such parcel ceases for thirty (30) calendar days or more (other than by reason of a Force Majeure Delay), at the discretion of the Bank, the Loan Funding Availability for such parcel may be reduced to an amount determined by the Bank (which amount can be zero) until development of such Lot Under Development is resumed to the satisfaction of the Bank.

Related to Lot Under Development

  • Lots Under Development means, as of any date of determination, parcels of land which are, as of the date of determination, being developed into Developed Lots or which are scheduled for the commencement of development into Developed Lots within six calendar months after the date of determination, and which Borrower has designated as “Lots Under Development” in the most recently delivered Inventory Summary Report.

  • Assets Under Development means all Real Property, or phases thereof, that is under construction or development as an income-producing project in a diligent manner and in accordance with industry standard construction schedules, but for which a certificate of occupancy has not been issued.

  • Cluster development means a contiguous cluster or

  • Major development means an individual “development,” as well as multiple developments that individually or collectively result in:

  • experimental development means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services. This may also include, for example, activities aiming at the conceptual definition, planning and documentation of new products, processes or services;

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Construction in Progress means, as of any date, the book value (determined in accordance with GAAP) of any Projects then under development; provided that a Project shall no longer be included in Construction in Progress and shall be deemed to be a stabilized project upon the earlier of (a) the expiration of the second full fiscal quarter after substantial completion (the earlier of receipt of a temporary certificate of occupancy or a final certificate of occupancy) of such Project and (b) the last day of the fiscal quarter in which the annualized Consolidated Net Operating Income attributable to such Project divided by the Capitalization Rate exceeds the book value of such Project.

  • Redevelopment means areas where development is replacing older development.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • Development Site means any parcel or lot on which exists or which is intended for building development other than the following:

  • Economic Development Property means those items of real and tangible personal property of the Project which are eligible for inclusion as economic development property under the FILOT Act and this Fee Agreement, and selected and identified by the Company or any Sponsor Affiliate in its annual filing of a SCDOR PT-300S or comparable form with the Department (as such filing may be amended from time to time) for each year within the Investment Period.

  • Finished Lots Entitled Land with respect to which (a) development has been completed to such an extent that permits to allow use and construction, including building, sanitary sewer and water, are entitled to be obtained for a Unit on such Entitled Land and (b) start of construction has not occurred.

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • Development means any man-made change to improved or unimproved real estate, including, but not limited to, buildings or other structures, mining, dredging, filling, grading, paving, excavation or drilling operations, or storage of equipment or materials.

  • Inclusionary development means a development containing both affordable units and market rate units. This term includes, but is not necessarily limited to: new construction, the conversion of a non-residential structure to residential and the creation of new affordable units through the reconstruction of a vacant residential structure.

  • Redevelopment Area means the community redevelopment area described, defined or otherwise identified or referred to in the Redevelopment Plan.

  • Developed Land means all Developable Land of the Company and its Restricted Subsidiaries which is undergoing active development or is ready for vertical construction.

  • Constructed wetlands means areas intentionally designed and created to emulate the water quality improvement function of wetlands for the primary purpose of removing pollutants from stormwater.

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Development Property means a Property currently under development for use as an office or industrial building that has not become a Stabilized Property, or on which the improvements (other than tenant improvements on unoccupied space) related to the development have not been completed, provided that such a Development Property on which all improvements (other than tenant improvements on unoccupied space) related to the development of such Property have been completed for at least twelve (12) months shall cease to constitute a Development Property notwithstanding the fact that such Property has not become a Stabilized Property.

  • The Works/Project means the works to be executed or done under this contract.

  • Redevelopment Law means Article VIII, Section 12 of the Constitution of the State and Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended.

  • Undeveloped Land means, (i) all Real Property set forth on Schedule 1.01D to the 2008 Credit Agreement, (ii) all undeveloped land acquired after the Closing Date and (iii) any operating property of the Borrower or any Subsidiary that is subject to a casualty event that results in such property ceasing to be operational.

  • Mixed use development means a Building used, designed or intended for Residential and Non-Residential uses, where: