Stabilized Properties definition

Stabilized Properties means the properties owned directly or indirectly by the Trust from time to time for a continuous period greater than 24 months;

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Stabilized Properties means any Property which meets all of the following criteria: (i) a certificate of occupancy has been issued for the Property and remains in full force and effect, (ii) the Property has been at least eighty-five percent (85%) occupancy level if multifamily, retail, or office (based on actual leasable square footage at the property) for the most immediately preceding three (3) consecutive months based on leases wherein the tenants are paying at least the average monthly lease payments required by the terms of such leases and such leases are free from default by either the landlord or tenant thereunder, and (iii) there is no Lien on the Property. However, if a historically Stabilized Property drops below the above listed occupancy threshold level, such Property may again become classified as a Stabilized Property after attaining a ninety percent (90%) occupancy level for a monthly reporting period if such Property attains such ninety percent (90%) occupancy level within three months of previously being classified as a Stabilized Property. Once a Property is reclassified as a Stabilized Property, then such Property shall remain classified as a Stabilized Property if it satisfies items (i) and (iii) above and maintains at least eighty-five percent (85%) occupancy level for each month thereafter.

Stabilized Properties means, as of any date, Properties that (a) are owned for the full quarterly period ending on such date, and (b) either (i) have achieved an average occupancy level based upon bona fide tenant leases requiring current rent payments of at least ninety-three percent (93%), or (ii) as of such date, have been owned for not less than twelve (12) consecutive months following Borrower's or a Consolidated Affiliate's acquisition thereof or substantial completion of improvements thereon.

Examples of Stabilized Properties in a sentence

An employee working on afternoon shift will be paid for that shift 15% more than his or her ordinary rate.
In addition, Borrower shall deliver to Agent appraisals reasonably satisfactory to Agent setting forth the as-is value of Stabilized Properties owned by Borrower and its Subsidiaries not included in the calculation of Pool Availability but which are included in the calculation of Gross Asset Value (provided that Borrower shall not be required to obtain new appraisals with respect to such properties described in this sentence).
Required Lenders shall have the right, from time to time, but in no event more frequently than once in any calendar year, at Borrower’s expense, to obtain reviews (or reconciliations) of Appraised Values from any of the Approved Appraisal Providers with respect to up to 15% (by number) of the Stabilized Properties.
Borrower may, from time to time, give written notice (a "Negative Pledge Designation Notice") to Agent of Borrower's intent that one or more additional Development Properties or Stabilized Properties will become Negative Pledge Properties.
With respect to Stabilized Properties only, the release of such Stabilized Property shall be subject to the written approval of the Administrative Agent, except in the case of a Casualty/Condemnation Release or a Default Release.
It will complete and pay for all repairs and make all capital expenditures necessary to repair and renovate any Non-Stabilized Property owned in accordance with the budget and timeframe submitted to the Agent in connection with the Advance made in respect of such Non-Stabilized Property and that is necessary to render such 53570.000371 EMF_US 44362017v35 Property a Stabilized Properties.
The Cap shall not terminate earlier than the date which is (a) the third (3rd) anniversary of the Closing Date for the Non-Stabilized Properties, and (b) the first (1 ~ anniversary of the Closing Date for the Stabilized Properties.
Borrower shall not permit the sum of (a) the Gross Revenues during any fiscal quarter from all Applicable Properties that are Stabilized Properties subject to Qualifying Leases plus (b) the Gross Asset Value for such fiscal quarter of all Applicable Properties that are Development Properties subject to Qualifying Leases to exceed 3% of the sum of (i) the Gross Revenues during such fiscal quarter of all Applicable Properties plus the Gross Asset Value for such fiscal quarter of all Applicable Properties.
If the then current value of the Stabilized Properties exceeds $40,500,000.00, the Buyer will pay Seller on or before September 30, 2007, lawful money of the United States equal to the difference between the then current value of the Stabilized Properties and $40,500,000.00, but in no event shall such earn-out payments exceed $3,000,000.00 in aggregate for the Stabilized Properties.
It will complete and pay for all repairs and make all capital expenditures necessary to repair and renovate any Non-Stabilized Property owned in accordance with the budget and timeframe submitted to the Agent in connection with the Advance made in respect of such Non-Stabilized Property and that is necessary to render such Property a Stabilized Properties.

More Definitions of Stabilized Properties

Stabilized Properties means the Properties listed on Schedule SA.

Stabilized Properties means those certain Completed Properties designated by the Borrower at the end of each Fiscal Quarter that have a weighted average Occupancy Rate of 85% or greater, provided, however, each such Completed Property (i) shall have prior to the date of determination achieved an Occupancy Rate of 85% or greater and (ii) as of the date of determination, shall have a Occupancy Rate of not less than 70%.

Stabilized Properties means Waterford at Mesquite, Waterford at Thousand Oaks, Waterford at Plano, Sedgwick Plaza and Towne Center (as such Facilities are identified on Exhibit A).

Stabilized Properties means all Properties other than Non-Stabilized Properties and New Properties Under Construction.