Uncommitted Land Holdings definition

Uncommitted Land Holdings means the sum of all of the following, valued at cost or market: (a) Real Estate Held for Development, (b) Lots Under Development, (c) Developed Lots, (d) Land Deposits, (e) Noncancellable Land Commitments, and (f) the Company's net equity investment in Investments in Joint Venture.
Sample 1Sample 2
Uncommitted Land Holdings means the sum of all of the following, valued at cost or market: (i) Real Estate Held for Development, (ii) Lots Under Development, (iii) Developed Lots, (iv) Land Deposits, (v) Noncancellable Land Commitments, and (vi) the Company's net equity investment in Investments in Joint Venture. "Land Deposits" shall mean the sum of down payments, deposits, or other funds paid pursuant to noncancellable, bona fide, arm's length contracts for the purchase of real property by the Company. "Noncancellable Land Commitments" shall mean the amount of the Company's obligations with respect to the unpaid purchase price of noncancellable contracts for the purchase of real property by the Company.
Sample 1
Uncommitted Land Holdings is defined in Section 8.16.
Sample 1

Examples of Uncommitted Land Holdings in a sentence

  • The Company and its Subsidiaries shall maintain at all times a ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth of not greater than 2.00 to 1.00.

  • The Company shall not permit the consolidated total purchases of any Uncommitted Land Holdings to exceed for each quarterly period set forth below the amount opposite such period, calculated on a trailing twelve month basis.

  • The Company and its consolidated Subsidiaries shall maintain at all times a ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth of not greater than 1.75 to 1.00.

  • 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 Company shall maintain at all times a ratio of Uncommitted Land Holdings to Tangible Net Worth of not greater than 1.75 to 1.00.

  • The Company and its consolidated Subsidiaries shall maintain at all times a ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth of not greater than (i) 1.90 to 1.00 continuing through March 30, 2006, and (ii) 1.75 to 1.00 as of March 31, 2006, and continuing at all times thereafter.

  • Ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth.........

  • Ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth................................................................31 8.17.

  • The Company and its Subsidiaries shall maintain at all times a ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth of (a) not greater than 2.00 to 1.00 from the date of this Agreement through and including December 31, 1999, and (b) not greater than 1.75 to 1.00 for the period beginning January 1, 2000, and continuing at all times thereafter.

  • The Company and its consolidated Subsidiaries shall maintain at all times a ratio of Uncommitted Land Holdings to Consolidated Tangible Net Worth of not greater than (i) 1.75 to 1.00 beginning as of March 31, 2006, and continuing through and including September 29, 2006, (ii) 1.70 to 1.00 as of September 30, 2006, and continuing through and including December 30, 2006, and (iii) 1.55 to 1.00 as of December 31, 2006, and continuing at all times thereafter.


More Definitions of Uncommitted Land Holdings

Uncommitted Land Holdings means the sum of all of the following, valued at cost or market: (i) Real Estate Held for Development, (ii) Lots Under Development, (iii) Developed Lots, (iv) Land Deposits, (v) Noncancellable Land Commitments, and (vi) all real estate deposits, and noncancellable land purchase commitments which would constitute Real Estate Held For Development, Developed Lots, Lots Under Development Land Deposits, or Noncancellable Land Commitments, but for the fact that such items are owned by Approved Joint Ventures (only to the extent of the Company's net equity investment in such Approved Joint Ventures). "Land Deposits" shall mean the sum of down payments, deposits, or other funds paid pursuant to noncancellable, bona fide, arm's length contracts for the purchase of real property by the Company. "Noncancellable Land Commitments" shall mean the amount of the Company's obligations with respect to the unpaid purchase price of noncancellable contracts for the purchase of real property by the Company.
Sample 1

Related to Uncommitted Land Holdings

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

  • Committed Lender means, as to any Lender Group, each of the financial institutions listed on Schedule I as a “Committed Lender” for such Lender Group, together with its respective successors and permitted assigns.

  • Original Borrower means, as the context requires, any of them;

  • Mortgage Loan Borrower Related Party shall have the meaning assigned to such term in Section 13.

  • Co-Borrowers has the meaning specified in the introductory paragraph to this Agreement.

  • Committed Lenders means, for any Lender Group, the Persons executing this Agreement in the capacity of a “Committed Lender” for such Lender Group (or an assignment hereof) in accordance with the terms of this Agreement.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Holdings as defined in the preamble hereto.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Canadian Subsidiary means any Subsidiary that is organized under the laws of Canada or any province or territory thereof.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Canadian Borrower as defined in the preamble hereto.

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • New Borrower means (a) each New Company that is a Company Borrower, and (b) each other Company (including a New Company) acting on behalf of, and for the account of, each Series thereof that is a New Fund.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, and an April 14, 2000, letter agreement, and a May 5, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 2, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from May 19, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from May 19, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date, provided that:

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).

  • Parent Borrower as defined in the preamble hereto.

  • Subsidiary Loan Party means each Subsidiary of the Borrower that is a party to the Guarantee Agreement.

  • Borrower as defined in the preamble hereto.

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.