Transitional Properties definition

Transitional Properties means such Retail/Other Properties for which (i) the Borrower has delivered a repositioning or redevelopment plan to the Administrative Agent and (ii) such plan demonstrates that at least 50% of the square footage of the applicable Retail/Other Property will be under active redevelopment for some period and will not produce ▇▇▇▇▇▇▇ revenue during such redevelopment period.
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Transitional Properties means such Retail/Other Properties for which (i) the Borrower has delivered a repositioning or redevelopment plan to the Administrative Agent and
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Transitional Properties means those Properties which are less than 50% leased to tenants in occupancy, paying rent and not in default under their respective Tenant Leases, which Properties shall each be valued as follows:
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Examples of Transitional Properties in a sentence

  • Notwithstanding the foregoing, to the extent the value of Transitional Properties exceeds 10% of Total GAV, such excess shall be excluded in the calculation of Total GAV.


More Definitions of Transitional Properties

Transitional Properties means such Retail/Other Properties for which (i) the Borrower has delivered a repositioning or redevelopment plan to the Administrative Agent and (ii) such plan demonstrates that at least 50% of the square footage of the applicable Retail/Other Property will be under active redevelopment for some period and will not produce stabile revenue during such redevelopment period.
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Transitional Properties means (i) as of the Effective Date, the Real Estate Asset commonly known as ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ and (ii) after the Effective Date, at the Borrower’s election, on or more of the Real Estate Assets commonly known as (x) One Fair Oaks, (y) ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ and (z) ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, provided that, in each case under clause (ii), the primary tenant within the applicable Real Estate Asset has vacated a substantial portion of the premises and has ceased to pay a substantial portion of its rent; and provided further, that any such Transitional Property under clauses (i) or (ii) above shall cease to constitute a Transitional Property at the earlier to occur of (a) the first day of the first full fiscal quarter after such Real Estate Asset achieves a stabilized occupancy of 80% or (b) two (2) years following such Real Estate Asset being classified as a Transitional Property, or (c) the Borrower’s written election made to the Agent.
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Related to Transitional Properties

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Transition Property means the property right created by a financing order, including without limitation the right, title, and interest of a utility, assignee, or other issuer of transition bonds to all revenue, collections, claims, payments, money, or proceeds of or arising from or constituting fixed transition amounts that are the subject of a financing order, including those nonbypassable rates and other charges and fixed transition amounts that are authorized by the commission in the financing order to recover transition costs and the costs of recovering, reimbursing, financing, or refinancing the transition costs and acquiring transition property, including the costs of issuing, servicing, and retiring transition bonds. Any right that a utility has in the transition property before the utility's sale or transfer or any other right created under this section or created in the financing order and assignable under this chapter or assignable pursuant to a financing order is only a contract right.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).