Undeveloped Land means (i) land owned in fee by the Company or any Subsidiary as of December 31, 2011 which at the time of determination has not been developed for commercial or residential purposes, (ii) land acquired by the Company or any Subsidiary subsequent to December 31, 2011 pursuant to a Code section 1031 like-kind exchange (in exchange for land described in clause (i) or (ii) of this definition) which at the time of determination has not been developed for commercial or residential purposes, or (iii) capital stock or other equity interests of a Subsidiary which owns as its principal asset, directly or indirectly, Undeveloped Land described in clause (i) or (ii) of this definition.
Undeveloped Land means, (i) all Real Property set forth on Schedule 1.01D to the 2008 Credit Agreement, (ii) all undeveloped land acquired after the Closing Date and (iii) any operating property of the Borrower or any Subsidiary that is subject to a casualty event that results in such property ceasing to be operational.
Undeveloped Land means (i) all undeveloped land existing on or acquired after the Issue Date and (ii) any operating property of the Issuer or any Subsidiary that is subject to a casualty event that results in such property ceasing to be operational.
Examples of Undeveloped Land in a sentence
Land Disturbance to Undeveloped Land that will Remain Undeveloped: Permittees may exclude areas with land disturbance to undeveloped land (land with no human-made structures such as buildings or pavement) that will remain undeveloped after the site.
Sites with Land Disturbance to Undeveloped Land that will Remain Undeveloped Redevelopment – The acreage of the excluded impervious area.
More Definitions of Undeveloped Land
Undeveloped Land means raw land that has not been filled to grade or been permitted for development.
Undeveloped Land means, as of any date, any undeveloped land owned from time to time by the Borrower or any other member of the Consolidated Group.
Undeveloped Land means a Real Estate Asset that constitutes land on which no development (other than improvements that are not material and are temporary in nature) has occurred.
Undeveloped Land means land that in its current state has not been impacted by significant land disturbance activities, annexed into the City or subdivided into multiple ownership lots and is typically zoned agricultural.