Speculative Homes definition

Speculative Homes means residential dwellings or lots on which the Company or a Restricted Subsidiary has commenced construction for such dwellings, which such entity presently intends to sell, but for which such entity does not have an Arm's-Length Contract, valued at the lesser of cost or market.
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Speculative Homes is defined in Section 2.12.
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Examples of Speculative Homes in a sentence

  • Speculative Homes.............................................................

  • The Company and its Subsidiaries, shall not permit at any time its inventory of Speculative Homes and other dwellings built for speculation, whether now owned or hereafter acquired, to exceed $12,500,000.00 in the aggregate outstanding at any time valued at the lesser of cost or market.

  • Homes designated as "Contracted Homes" or "Market Homes" (Speculative Homes) in the inventory records by Zari▇▇ ▇▇▇es, Inc.

  • The aggregate face amount of all Residential Construction Loans for Speculative Homes in respect of which an Advance has been made by the Lender hereunder shall not exceed in the aggregate Thirty-two Million and No/100 Dollars ($32,000,000.00).

  • The Company and its Subsidiaries will not permit their consolidated total Investments in or purchases of any Uncommitted Land Holdings, Speculative Homes, Model Homes and all other real or personal property constituting any one or more “start up operations” or other de novo entries in any market other than a Dominion Market to exceed the aggregate sum outstanding as of the Closing Date valued at the lesser of Cost or market.

  • The aggregate face amount of all Residential Construction Loans for Speculative Homes in respect of which an Advance has been made by the Lender hereunder shall not exceed in the aggregate Sixty Million and No/100 Dollars ($60,000,000.00).

  • The Company and its Subsidiaries will not have an inventory of Speculative Homes and other dwellings built for speculation, whether now owned or hereafter acquired, that exceeds $30,000,000 in the aggregate outstanding at any time, valued the at the lesser of cost or market.

  • In further limitation, the Company shall not, and shall not permit its Subsidiaries, at any time to have their consolidated inventories of Speculative Homes consisting of the "Independence Series" models or other new products to exceed $4,500,000.00 in the aggregate outstanding at any time, valued at cost.

  • Approved Construction Projects for Model Homes will be limited to a maximum of ten (10), with a maximum of two (2) at each Subdivision, and approved Construction Projects for Speculative Homes will be limited to a maximum of fifteen (15), with a maximum of three (3) at each Subdivision.

  • The Company and its Subsidiaries, shall not permit at any time their inventory of Speculative Homes and other dwellings built for speculation, whether now owned or hereafter acquired, to exceed $20,000,000 in the aggregate outstanding at any time, valued at cost.

Related to Speculative Homes

  • Permitted Business Investment means any Investment made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil, natural gas or other Hydrocarbons and minerals through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties including:

  • Permitted Business Investments means Investments by the Company or any of its Restricted Subsidiaries in any Unrestricted Subsidiary of the Company or in any Joint Venture, provided that:

  • Residential purposes means use for dwelling or recreational purposes, or both.

  • Permitted Joint Venture Investment means, with respect to any specified Person, Investments in any other Person engaged in a Permitted Business of which at least 40% of the outstanding Capital Stock of such other Person is at the time owned directly or indirectly by the specified Person.

  • Registered family day home means any family day home that has met the standards for voluntary registration for such homes pursuant to regulations adopted by the Board and that has obtained a certificate of registration from the Commissioner.