Property under construction definition

Property under construction means a Property funded by Non-Bank Financial Institution which at the time of sanction of the Loan is under construction and is not ready for possession.
View Source
Property under construction means each of the Care Meridian projects in La Mesa, California being developed by La Mesa Med Partners, LP and the Reliant Rehabilitation Hospital in Houston, Texas being developed by Northwest Houston Hospital RE Partners, LP.
View Source

Examples of Property under construction in a sentence

  • To the knowledge of TSL, each Property is undamaged by fire or other hazards not covered by insurance, except that the Thousand Oaks Property under construction in San Antonio, Texas, recently burned and the loss was not fully insured.

  • Whereas the First Identified Party is the owner of the Property under construction at ▇▇.

  • Where permanent tsb arranges insurance cover for a Property under construction or renovation it will be for fire cover only for the amount as indicated on the policy schedule.

  • Sumter SC PLEDGE AGREEMENT - EXHIBIT B + Property under construction as of January 15, 2013.

  • With respect to any Property under construction, during the development and construction of such Property, in lieu of a Property Budget there shall be a Construction Budget prepared by the Administrative Agent and Approved by the Venturers in form and substance.

  • Licensee shall, at its sole cost and expense, install and maintain in good condition a barrier fence or other suitable and customary barrier around the perimeter of any portion of the Licensed Property under construction by Licensee.