Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.
Unimproved Real Property means property which has the following three characteristics: (1) the property was not acquired for the purpose of producing rental or other operating income, (2) there is no development or construction in process on such land, and (3) no development or construction on such land is planned in good faith to commence on such land within one year.
Unimproved Real Property means real property directly or indirectly owned by the Corporation which has the following three characteristics: (i) an equity interest in real property which was not acquired for the purpose of producing rental or other operating income; (ii) has no development or construction in process on such land; and (iii) no development or construction on such land is planned in good faith to commence on such land within one year. As of the date hereof, the Corporation does not expect to own Unimproved Real Property.
Examples of Unimproved Real Property in a sentence
Not more than 10% of the Corporation’s total assets shall be invested in Unimproved Real Property or indebtedness secured by a deed of trust or Mortgages on Unimproved Real Property.
More Definitions of Unimproved Real Property
Unimproved Real Property means the real property of the Corporation which has the following 3 characteristics:
Unimproved Real Property means Property (i) in which the Corporation has an equity interest that was not acquired for the purpose of producing rental or other operating income, (ii) that has no development or construction in process and (iii) for which no development or construction is planned, in good faith, to commence within one year. “2%/25% Guidelines” shall have the meaning as provided in Section 8.8 herein.
Unimproved Real Property shall have the meaning set forth in Section 2.1(a)(1)(B).
Unimproved Real Property means property of the Company which has the following characteristics:
Unimproved Real Property means real property which is not improved by one or more buildings leased, or held out for lease, to third parties.
Unimproved Real Property means the property of a REIT which has the following three characteristics: (1) an equity interest in property which was not acquired for the purpose of producing rental or other operating income, (2) has no development or construction in process on such land, and (3) no development or construction on such land is planned in good faith to commence on such land within one year.
Unimproved Real Property means real property upon which no structures or permanent buildings are situated; or upon which temporary structures or buildings are situated but are not suitable for residence.