Timberlands definition

Timberlands means, as of any date of determination, all real property owned by or leased to the Borrower or any Subsidiary that is suitable for Timber production, natural resource development or real estate development. For the avoidance of doubt, “Timberlands” shall exclude property, plant and equipment of the Borrower and its Subsidiaries associated with their manufacturing activities.

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Timberlands means all the timberlands from time to time owned by the Loan Parties.

Timberlands means any real property of the Issuer or any Restricted Subsidiary which contains standing timber which is (or upon completion of a growth cycle then in process is expected to become) of a commercial quantity and of merchantable quality, excluding, however, any such real property which at the time of determination is held primarily for development or sale, and not primarily for the production of any lumber or other timber products.

Examples of Timberlands in a sentence

• The Timberlands are not subject to any easements which, individually or in the aggregate, impair the value of the Timberlands as commercial timberlands in any material respect or materially detract from the use of the Timberlands, in each case taken as a whole, as such.

• The Property of the Borrowers (including the Timberlands) and their Subsidiaries are not subject to any Lien other than Permitted Liens.

• Each Loan Party will, and will cause each of its Subsidiaries to, manage its Timberlands in accordance with the guidelines established by either SFI, Inc.

• You acknowledge and agree that while on the Timberlands, you and your Representatives assume all risks relating to such presence.

• Timberlands II shall cause and direct all amounts that are payable to it under the Master Stumpage Agreement from the harvesting of Timber to the Revenue Account.

More Definitions of Timberlands

Timberlands means, collectively, the Land and the Leasehold Interests.

Timberlands means the timberlands owned by the Company as of the Closing Date and any timberlands acquired by the Company or any Subsidiary after the Closing Date.

Timberlands means real property that contains standing timber which is (or upon the completion of the growth cycle then in process is expected to become) of a commercial quantity and of merchantable quality.

Timberlands means, at any time, property owned by the Company or any Subsidiary, or as to which the Company or any Subsidiary has cutting rights, which contains standing timber which is, or upon completion of a growth cycle then in process is expected to become, of commercial quantity and of merchantable quality; excluding from the term “Timberlands”, however, any property which at the time is held primarily for development (other than as timberlands) and/or sale, and not primarily for the production of any wood products.

Timberlands means, at any date of determination, all real property owned by or leased to RFR that is suitable for Timber production.

Timberlands means, at any time of determination, Property in the U.S. that (a) contains standing Timber that is, or upon completion of a growth cycle then in process is expected to become, of a commercial quantity and of merchantable quality and (b) is suitable and principally used for Timber production.

Timberlands means any real or immovable property located within Canada or the United States and (a) which is owned by the Company or any Subsidiary and contains, or (b) with respect to which the Company or any Subsidiary is entitled under any lease, license or similar agreement to cut and remove, standing timber which is (or upon completion of a growth cycle then in process is expected to become) of a commercial quantity and of merchantable quality, other than (i) any such property which at the time of determination is not held primarily for the production of lumber or other wood products, (ii) any such property the fair value of which as determined by the Board of Directors does not at the time exceed 1% of the Consolidated Net Tangible Assets of the Company or (iii) any reserves of oil and gas located under such property.