Pre-Development Land definition

Pre-Development Land means any Entitled Land in any Approved Subdivision designated for the development of detached single family Units and/or attached single family dwellings where (i) a preliminary subdivision plat or map has been approved by all applicable governmental authorities to the extent necessary to permit the development of such Entitled Land, (ii) all governmental permits, consents and approvals have been obtained to permit the commencement and grading of such Entitled Land as necessary to improve such Entitled Land to an A&D Completed Lot, (iii) all fees required in connection with such licenses, permits, approvals and grading have been paid, and (iv) no material impediments exist to the issuance of all further permits, licenses or approvals necessary or appropriate in connection with the development of utilities, infrastructure and other physical site improvements on such Lots.
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Pre-Development Land means any Entitled Land in any Approved Subdivision designated for the development of Units where (i) a preliminary subdivision plat or map has been approved by all applicable governmental authorities to the extent necessary to permit the development of such Entitled Land, (ii) all governmental permits, consents and approvals have been obtained to permit the commencement and grading of such Entitled Land as necessary to improve such Entitled Land to an A&D Completed Lot, (iii) all fees required in connection with such licenses, permits, approvals and grading have been paid, and (iv) no material impediments exist to the issuance of all further permits, licenses or approvals necessary or appropriate in connection with the development of utilities, infrastructure and other physical site improvements on such Lots.
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Examples of Pre-Development Land in a sentence

  • Pre-Development Land in each Approved Subdivision may be included in the Borrowing Base as Eligible Collateral for a period of not more than twelve (12) Calendar Months after the applicable Approved Subdivision Closing Date, subject to the Maximum Allowed Advance limitations for the aggregate amount of the Commitment Amount applicable to the Pre-Development Land for such Approved Subdivision.

  • After giving effect to the addition of such Pre-Development Land or A&D Lots to Eligible Collateral, the provisions of Article 3 are not violated.

  • From the Effective Date through the first Facility Anniversary Date, in no event shall the aggregate Collateral Value with respect to all Pre-Development Land and Land Under Development exceed 60% of the aggregate Collateral Value with respect to all Eligible Collateral within the Borrowing Base.

  • Commencing as of the 271st day following the Effective Date and continuing at all time thereafter, in no event shall the aggregate Collateral Value with respect to all Pre-Development Land, Land Under Development and A&D Finished Lots exceed 40% of the aggregate Collateral Value with respect to all Eligible Collateral within the Borrowing Base.

  • Any Land (and any Lots therein), including without limitation, any Pre-Development Land, Land Under Development or any A&D Completed Lots, that have been included as Eligible Collateral for the maximum term determined in accordance with the provisions of this Section 3.2 will no longer be considered Eligible Collateral upon expiration of such term and shall be excluded from any determination of the Collateral Value of the Borrowing Base.

  • With respect to any Lot, including any Pre-Development Land, Land Under Development or any A&D Completed Lot, Borrower shall commence and thereafter diligently and in good faith prosecute development of the A&D Lot Improvements in a manner consistent with and within the applicable term periods and time lines for set forth in Sections 3.3 and 3.4. For purposes of this Agreement, development of the A&D Lot Improvements shall be deemed to have commenced upon completion of all staking and rough grading.

  • Commencing on the first Facility Anniversary Date, and continuing at all times thereafter, in no event shall the aggregate Collateral Value with respect to all Pre-Development Land and Land Under Development exceed 50% of the aggregate Collateral Value with respect to all Eligible Collateral within the Borrowing Base.

  • Section 3.3(b) of the Loan Agreement is hereby amended and restated in its entirety as follows: In no event shall the aggregate Collateral Value with respect to all Pre-Development Land, Land Under Development and A&D Finished Lots exceed 30% of the aggregate Collateral Value with respect to all Eligible Collateral within the Borrowing Base.

  • Any Land (and any Lots therein), including without limitation, any Pre-Development Land, Land Under Development or any A&D Completed Lots, that have been included as Eligible Collateral for the maximum term determined in accordance with the provisions of this Section 3.3 will no longer be considered Eligible Collateral upon expiration of such term and shall be excluded from any determination of the Collateral Value of the Borrowing Base.

  • With respect to any Lot, including any Pre-Development Land, Land Under Development or any A&D Completed Lot, Borrower shall commence and thereafter diligently and in good faith prosecute development of the A&D Lot Improvements in a manner consistent with and within the applicable term periods and time lines for set forth in Sections 3.2 and 3.3. For purposes of this Agreement, development of the A&D Lot Improvements shall be deemed to have commenced upon completion of all staking and rough grading.

Related to Pre-Development Land

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;

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

  • 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.

  • Mixed use development means a building, combination of buildings, or building complex, designed to functionally and physically integrate non-residential uses such as retail, commercial, institutional, recreational, or community uses with residential uses, in a complementary manner.

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