Marginal property definition

Marginal property means: (a) with respect to months ending prior to
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Marginal property means a property whose average daily production of crude oil (excluding condensate recovered in non- associated production) per well during calendar year 1978 did not exceed the number of barrels shown in the following table for the corresponding average completion depth:
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Marginal property means property that suffers from at least one of the following conditions: (1) faulty planning causing deterioration, disuse, or economic dislocation; (2) the subdividing and sale of lots too small and irregular for good use and development; (3) lots laid out without regard to their physical characteristics and surrounding conditions; (4) inadequate streets, open spaces, and utilities; (5) areas that may flood; (6) lower values, damaged investments, and social and economic maladjustment reducing taxpaying capacity to the extent that tax receipts are too low to pay for the public services rendered; (7) lack of use or improper use of areas, resulting in stagnant or unproductive land that could contribute to the public health, safety and welfare; (8) lower population and reduction of proper use of areas causing more decline, and requiring more public money for new public facilities and public services elsewhere; (9) property valuation too low to establish a local improvement district to construct and install streets, walks, sewers, water and other utilities; (10) lands within an industrial area not used for industry but needed for industrial development of the area; and (11) state-acquired tax-forfeited land.
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Related to Marginal property

  • 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.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.