Redevelopment Assets definition

Redevelopment Assets means any real estate under major redevelopment.

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Redevelopment Assets means the redevelopment projects set forth on Schedule VII.

Redevelopment Assets means all Hotel Assets either (i) acquired by the Parent or any of its Subsidiaries with a view toward renovating or rehabilitating same at an aggregate anticipated cost in excess of 10% of the acquisition cost of such Hotel Asset, or (ii) designated by a Loan Party in a notice to the Administrative Agent as a Redevelopment Asset with respect to which the Borrower intends to renovate or rehabilitate such asset at an aggregate anticipated cost in excess of 10% of the Appraised Value thereof. Each Redevelopment Asset shall continue to be classified as a Redevelopment Asset hereunder until the date that is eighteen (18) months following the achievement of Substantial Completion with respect to such Asset, following which such Asset shall be classified as a Hotel Asset hereunder.

Examples of Redevelopment Assets in a sentence

If any Unencumbered Pool Asset that is a Hotel Asset shall be redesignated as a Redevelopment Asset pursuant to clause (ii) of the definition of Redevelopment Assets, promptly deliver to the Administrative Agent the notice referred to in such clause (ii), together with an updated Schedule II hereto reflecting such redesignation.
Not permit more than one-third of the Total Unencumbered Pool Value (exclusive of the Unencumbered Pool Asset Value of the Fairmont Asset) to be comprised of Unencumbered Pool Asset Values attributable to Redevelopment Assets.
If any Borrowing Base Asset that is a Hotel Asset shall be redesignated as a Redevelopment Asset pursuant to clause (ii) of the definition of Redevelopment Assets, promptly deliver to the Administrative Agent the notice referred to in such clause (ii), together with an updated Schedule II hereto reflecting such redesignation.
Assets shall not be classified as Hotel Assets hereunder until the date indicated in the last sentence of the definition of Development Asset herein, and (b) Redevelopment Assets and Recently Redeveloped Assets shall not be classified as Hotel Assets hereunder until the date indicated in the last sentence of the definition of Redevelopment Asset herein.
In case of any variation in scope of Redevelopment Assets, due to whatsoever reason, the variation in the cost shall be worked out on the basis of number of units of quarters and / or constructed area of utilities.
Similarly, in case of any excess in the cost of Redevelopment Assets due to the variation, such excess shall be adjusted in the next instalment of Lease Premium whenever due.

More Definitions of Redevelopment Assets

Redevelopment Assets and the “Station Development Assets” shall respectively mean all fixed assets relating to the Commercial Development Project , Redevelopment Project and Station Development Project, respectively, but shall not include the Site;