Value of the property definition

Value of the property means one of the following:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Value of the property means, in respect of each Property, the value (hors droits et frais) of such Property at that time as determined on the basis of the latest Valuation.

Value of the property means (A) in the case of a Mortgage Loan not for rehabilitation or improvements, either (i) the purchase price (which may include points or other reasonable closing costs payable by the buyer) paid by the buyer of the property or any interest therein to the seller thereof plus, if such price does not include the value of the land or interests in land securing the Mortgage Loan and upon which the applicable residence is situated, or does not include other property, labor or contribution of equity securing the Mortgage Loan or incorporated in the residence or otherwise contributing to the value thereof, the value of such land, interest, property, labor or other equity as reasonably determined the Agency or (ii) the appraised value of the property or interest therein, whichever is less, and (B) in the case of a Mortgage Loan all or part of which is for rehabilitation or improvements, either (x) the purchase price of the property or interest in property, as determined above, plus rehabilitation costs (which shall include the labor costs of such rehabilitation or improvement in an amount no greater than the amount paid by the owner of such property or interest for the provision of labor by others, or where such labor is provided by the owner or others without charge, an amount no greater than the value of such labor as reasonably determined by the Agency) or (y) the estimated appraised value of the property or interest therein as of the completion of the proposed rehabilitation or improvements, whichever is less.

Examples of Value of the property in a sentence

• The amount of the penalty is the amount determined by: (i) multiplying the maintenance and operations tax rate of the school district for that tax year that the penalty is due by (ii) the amount obtained after subtracting (a) the Tax Limitation Amount identified in Section 2.4.B from (b) the Market Value of the property identified on the Appraisal District’s records for the Tax Year the penalty is due.

• The amount of the penalty is the amount determined by: (i) multiplying the maintenance and operations tax rate of the school district for that tax year that the penalty is due by (ii) the amount obtained after subtracting (a) the Tax Limitation Amount identified in Section 2.4.B from (b) the Market Value of the property identified on the Appraisal District's records for the Tax Year the penalty is due.

• The amount of Indebtedness of any Person for purposes of clause (e) above shall (unless such Indebtedness has been assumed by such Person) be deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the Fair Market Value of the property encumbered thereby as determined by such Person in good faith.

• If the Insured Property is not replaced, we shall only pay for the Actual Cash Value of the property.

• Your right to receive any Dividend Equivalents with respect to dividends other than cash dividends shall vest only if and when the related Restricted Stock vests, and on the applicable Vesting Date you will be paid an amount in cash equal to the Fair Market Value of the property underlying such dividend as of the applicable Vesting Date.

• Such appraiser shall render a binding and non-appealable appraisal of the Fair Market Value of the property constituting the Non-Cash Consideration within 10 Business Days of such appraiser's appointment or, if it is not reasonably possible to complete such appraisal in such time period, such longer period as shall be reasonably necessary to complete such appraisal (not to exceed 30 Business Days).

• The amount of the penalty is the amount determined by: (i) multiplying the maintenance and operations tax rate of the District for that tax year that the penalty is due by (ii) the amount obtained after subtracting (a) the Tax Limitation Amount identified in Section 2.4.B from (b) the Market Value of the property identified on the Appraisal District's records for the Tax Year the penalty is due.

• No Obligor shall consummate any Asset Sale unless such Asset Sale is approved by the Majority Funds; provided, that such approval shall (i) not be unreasonably withheld, delayed or conditioned and (ii) be deemed automatically granted to the extent the cash consideration received in connection with any such Asset Sale at closing shall be equal to or greater than 100% of the Gross Book Value of the property subject to such Asset Sale.

• The initial Gross Asset Value of the property contributions described in this Section 2.2(a) is $10,500,000.

• If the Insured Property is not replaced, the Company shall only pay for the Actual Cash Value of the property.

More Definitions of Value of the property

Value of the property means, as at the date on which any security referred to in Condition 4(a)(iv) is created, the value of the property known as The Concourse on the basis of the most recent valuation report prepared by an Approved Valuer and delivered by the Issuer to the Trustee pursuant to Clause 16(hh) of the Trust Deed.

Value of the property as used in this section, means the amount that the property transferred would command at a fair and voluntary sale, and no other value.