Unimproved Land Value definition

Unimproved Land Value means, as of any date, the book value of any Projects as determined in accordance with GAAP, which have not been developed for any type of commercial, industrial, residential or other income-generating use and is not, as of such date, under development.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Unimproved Land Value means the aggregate Acquisition Price of Unimproved Assets.

Unimproved Land Value means the book value of Unimproved Land, determined in accordance with GAAP.

Examples of Unimproved Land Value in a sentence

• Unimproved Land Value of the Borrower and its Consolidated Subsidiaries shall at no time exceed ten percent (10%) of Combined Asset Value of the Borrower and its Consolidated Subsidiaries.

• Unimproved Land Value of the Borrower, its Consolidated Subsidiaries, together with the Borrower's pro rata share with respect to Minority Holdings and Joint Ventures, shall at no time exceed five percent (5%) of Combined Gross Asset Value.

• Notwithstanding any term or provision of this Lease to the contrary, Landlord hereby transfers, conveys and assigns to Tenant the right to receive any award, settlement, judgment or other consideration Landlord receives or is entitled to receive from any condemning authority in excess of the Unimproved Land Value.

• Unimproved Land Value of the Borrower, the General Partner, and the Consolidated Subsidiaries, together with the Borrower's and the General Partner's pro rata shares with respect to Minority Holdings and Joint Ventures, shall at no time exceed five percent (5%) of Combined Gross Asset Value.

More Definitions of Unimproved Land Value

Unimproved Land Value means the land value for each parcel as reflected on the most recent tax list.

Unimproved Land Value means the value of the land as if no improvements (structures, excavations etc.) had been made to it. This is the unimproved value of what is leased. It is the market value of the land set in its neighbourhood as though it was undeveloped.