Value-Add Property definition

Value-Add Property means, as of any date of determination, any Borrowing Base Real Property that is not a Core Property.
Source 1

Examples of Value-Add Property in a sentence

  • In connection with the release of a Value-Add Property, such Value-Add Property is the subject of an arms-length sale or refinancing, except in the case of a Casualty/Condemnation Release or a Default Release.

  • Subsequent Loans with respect to any Value-Add Property made after the addition of such Value-Add Property as a Collateral Property will be allowed for up to fifty-five percent (55%) of all tenant improvements, leasing commissions, and capital expenditures as incurred.

  • Notwithstanding the foregoing, either Party shall have the right, but not the obligation, to appoint separate counsel to represent them, at its own expense, in any action brought by the other Party under this Section 10.4. In any event, TCS and Novartis shall assist one another and cooperate in any such action at the other Party's request without expense to the requesting Party.

  • As such new or updated Appraisals are obtained and approved by the Administrative Agent, such Appraisals shall, immediately upon such approval, be used in the determination of the Core Property Value Amount (if such Borrowing Base Real Property is a Core Property) or the Value-Add Property Value Amount (if such Borrowing Base Real Property is a Value-Add Property) of the applicable Borrowing Base Real Property.

  • Furthermore, in no event shall the aggregate amount of Loans made against or with respect to any particular Value-Add Property exceed fifty-five percent (55%) of the “as stabilized” Appraised Value of such property based on the most recent Appraisal for such property (other than an Appraisal obtained pursuant to §5.2(b)(i)).

Related to Value-Add Property

  • Historic property means any prehistoric or historic site, district, building, object or other real or personal property of historical, architectural or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government and culture of Florida.

  • Agricultural property means property that is used primarily for agricultural purposes but, without derogating from section 9 of the MPRA, excludes any portion thereof that is used commercially for the hospitality of guests, and excludes the use of the property for the purpose of eco-tourism or for the trading in or hunting of game;

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.