Property Stabilization definition

Property Stabilization means the last day of the month in which the Property has attained at least ninety-two and one-half percent (92.5%) occupancy for three (3) consecutive months.
View Source
Property Stabilization means a condition which shall be deemed to have occurred on that date that, after the consummation of a Restoration of the Property in accordance with the applicable terms and conditions hereof and of the other Loan Documents, Borrower delivers to Lender evidence reasonably satisfactory to Lender (which such evidence may include, without limitation, duly executed estoppel certificates) that the Property has achieved (A) a 91% occupancy by tenants with Leases either in existence as of the date hereof or entered into in accordance with the terms and conditions hereof and (B) a Debt Service Coverage Ratio of not less than 1.50 to 1.00;
View Source
Property Stabilization means a condition which shall be deemed to have occurred on that date that, after the consummation of a Restoration of the Property in accordance with the applicable terms and conditions hereof and of the other Loan Documents, Borrower delivers to Lender evidence reasonably satisfactory to Lender (which such evidence may include, without limitation, duly executed estoppel certificates) that the Property has achieved (A) a 90% occupancy by tenants with Leases either in existence as of the date hereof or entered into in accordance with the terms and conditions hereof and (B) a Debt Service Coverage Ratio (as defined on Schedule 1 attached hereto) of not less than 1.50 to 1.00; (iii) at all times during which structural construction, repairs or alterations are being made with respect to the Improvements, and only if the Property coverage form referenced in subsection (i), above, does not otherwise apply, (A) owner’s contingent or protective liability insurance, otherwise known as Owner Contractor’s Protective Liability, covering claims not covered by or under the terms or provisions of the commercial general liability insurance policy in (v) below; and
View Source

Examples of Property Stabilization in a sentence

  • From and after consummation of the Restoration and until Property Stabilization, any remaining balance of Rent Loss Proceeds shall, provided no Event of Default is continuing, be applied by Lender to Borrower’s obligations hereunder and under the other Loan Documents as the same become due and payable.

  • At any time after the earlier to occur of (i) twenty four (24) months following Final Completion, or (ii) twelve (12) months following Property Stabilization, Bluerock or its designee (for purposes of this Section 15, "Bluerock") shall have the right, but not the obligation, to purchase and acquire all, but not less than all, of ArchCo's Interest in the Company for the Put/Call Purchase Price thereof by delivering written notice of such election (the "Call Election Notice") to ArchCo (the "Call Option").

  • At any time after the earlier to occur of (i) twenty four (24) months following Final Completion, or (ii) twelve (12) months following Property Stabilization, ArchCo shall have the right, but not the obligation, to elect to require Bluerock to purchase and acquire all, but not less than all, of ArchCo's Interest in the Company for the Put/Call Purchase Price thereof by delivering written notice of such election (the "Put Election Notice") to Bluerock (the "Put Option").

  • At any time after the earlier to occur of (i) twenty four (24) months following Final Completion, or (ii) twelve (12) months following Property Stabilization, Bluerock or its designee (for purposes of this Section 15, “Bluerock”) shall have the right, but not the obligation, to purchase and acquire all, but not less than all, of ArchCo’s Interest in the Company for the Put/Call Purchase Price thereof by delivering written notice of such election (the “Call Election Notice”) to ArchCo (the “Call Option”).

  • At any time after the earlier to occur of (i) twenty four (24) months following Final Completion, or (ii) twelve (12) months following Property Stabilization, ArchCo shall have the right, but not the obligation, to elect to require Bluerock to purchase and acquire all, but not less than all, of ArchCo’s Interest in the Company for the Put/Call Purchase Price thereof by delivering written notice of such election (the “Put Election Notice”) to Bluerock (the “Put Option”).

  • Subject to the terms of the Ground Lease, starting one year after Property Stabilization, and subject to cash-flow provisions contained in the Amended and Restated Operating Agreement of Developer, Developer shall pay rent to the Town in the form of a Ground Lease Annual Payment.

  • The Ground Lease Annual Payment shall be increased by 2.25% annually starting with the second payment after Property Stabilization.

  • The initial Ground Lease Annual Payment shall be Forty Thousand Dollars ($40,000.00) commencing one year after Property Stabilization, to be paid on the same date annually thereafter.

  • From and after consummation of Restoration and Property Stabilization, any Rent Loss Proceeds then held or thereafter received by Lender on account of the casualty which was the subject of such completed Restoration shall, provided no Event of Default has occurred and is continuing, be disbursed by Lender to Borrower.


More Definitions of Property Stabilization

Property Stabilization means that the completed Project has achieved residential occupancy of at least 90% for a period of no less than three (3) full calendar months.
View Source
Property Stabilization means a condition which shall be deemed to have occurred on that date that, after the consummation of a Restoration of the Property in accordance with the applicable terms and conditions hereof and of the other Loan Documents, Borrower delivers to Lender evidence reasonably satisfactory to Lender (which such evidence may include, without limitation, duly executed estoppel certificates) that the Property has achieved (A) a 90% occupancy by tenants with Leases either in existence as of the date hereof or entered into in accordance with the terms and conditions hereof and (B) a Debt Service Coverage Ratio (as defined on Schedule 1 attached hereto) of not less than 1.50 to 1.00;
View Source

Related to Property Stabilization

  • Crisis stabilization means a service lasting less than 24 hours (23.59 hours), to or on behalf of a beneficiary for a condition that required more timely response than a regularly scheduled visit. Service activities include but are not limited to one or more of the following: Assessment, collateral, and therapy. Crisis Stabilization is distinguished from crisis intervention by being delivered by providers who meet the Crisis Stabilization contract, site, and staffing requirements described in Sections 1840.338 and 1840.348 of CCR, Title 9.

  • Stabilization means providing adequate measures, vegetative and/or structural, that will prevent erosion from occurring.

  • Crisis stabilization unit means a short-term facility or a

  • Final stabilization means that all land disturbing construction activities at the construction site have been completed and that a uniform perennial vegetative cover has been established with a density of at least 70 percent of the cover for the unpaved areas and areas not covered by permanent structures or that employ equivalent permanent stabilization measures.

  • Post-Stabilization Care means Medically Neces- sary services received after the treating physician determines the emergency medical condition is stabilized.