Vacant Property definition

Vacant Property. – means any land without any improvements thereon;

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Vacant Property means, individually, and “Vacant Properties” means, collectively, the Properties listed on Schedule XI attached hereto which are not leased to or occupied by any Tenant as of the Cut-Off Date.

Vacant Property means surplus vacant residential property owned by the local governmental unit.

Examples of Vacant Property in a sentence

• If the Property is a Vacant Property, it was previously subject to an Eligible Lease.

• The Property is subject to an Eligible Lease or is a Vacant Property previously subject to an Eligible Lease, and at the commencement of such Eligible Lease, such Property was (and to Borrower’s knowledge continues to be) in a good, safe and habitable condition and repair, and free of and clear of any damage or waste that has an Individual Material Adverse Effect on the Property.

• In all cases, the Lindbergh/Energy Center Adjusted Cost shall be reduced as appropriate if either the AT&T Lindbergh Center (treated as one Property) or Energy Center I is considered a Vacant Property, as defined herein.

• As of the Cut Off Date, unless such Property is a Vacant Property, or, in case of any Substitute Property, as of the date such Property becomes a Substitute Property, the Property was leased by Borrower pursuant to an Eligible Lease and each such lease was in full force and effect and was not in default in any material respect.

• As of the Property Cut Off Date, unless such Property is a Vacant Property, or, in case of any Substitute Property, as of the date such Property becomes a Substitute Property, the Property was leased by Borrower pursuant to an Eligible Lease and each such lease was in full force and effect and was not in default in any material respect.

More Definitions of Vacant Property

Vacant Property. – means any land without any improvements thereon (empty stands), hotels, hostels, old-age homes and accommodation establishments, irrespective of their zoning or intended use, have been specifically excluded from this property category;

Vacant Property means a property which is unoccupied—

Vacant Property means residential, commercial, industrial, or mixed use real property that has not been lawfully occupied and maintained, actively marketed for rental, or under active construction for a continuous period of forty-five (45) days or more, or, notwithstanding the foregoing, any residential, commercial, or mixed use property in which more than half of the exterior windows or doors of a building are broken, boarded, or without a functioning locking mechanism.

Vacant Property means property on which no building exists or on which a building exists but any such building is no longer utilized for any business, commercial or residential purposes.

Vacant Property means any building to be used as a residence or for commercial or industrial purposes, which is unoccupied and lacks habitual presence of human beings for a period of six months or more. Property which is used on a seasonal basis shall not be deemed vacant for purposes of this Ordinance. Property determined to be “abandoned” under this Ordinance must be determined to be “vacant” for purposes of this Ordinance.

Vacant Property means any building to be used as a residence or for commercial or industrial purposes, which is not legally occupied or used for its accustomed and ordinary purpose for a period of six months or more. In the case of the use of residential property, “used for its accustomed and ordinary purpose” means as a place of abode. (Black’s Law Dictionary) Property which is used for the summer season (seasonal basis) as defined below, shall not be deemed vacant for purposes of this Ordinance. Property determined to be “abandoned” under this Ordinance must be determined to be “vacant” for purposes of this Ordinance. The date that the Public Officer reports as the date he or she determines vacancy shall be the commencement date for the six month vacancy period. (This definition was added by Ordinance No. 15- 26 and amended by Ordinance No. 16-40)

Vacant Property means a building is vacant if less than 10% of the total square footage is owned, rented, or leased by you and contains inadequate contents to perform customary operations, excluding common areas such as lobbies and garages. Buildings under construction or renovation shall not be considered vacant.