Unit Lot Cost definition

Unit Lot Cost means, with respect to each Unit included in Eligible Collateral, the cost of the Lot as determined by Lender in connection with the approval of each Approved Subdivision, based upon one or more of the following: (i) the Total Lot Cost of the Lots in such Approved Subdivision divided by the number of such Lots; or (ii) the book value of such Lots as determined in accordance with GAAP or based on the applicable Appraised Value if Lender determines such valuation is reasonable and the Lot is not subject to any other Liens and Encumbrances securing Indebtedness of Borrower (whether junior or senior in priority to the applicable Deed of Trust).
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Unit Lot Cost means, with respect to each Lot included in Eligible Collateral, the cost of such Lot as determined in accordance with GAAP; provided, however, that if the Agent, in its sole and absolute discretion, at any time disapproves Borrower's "capitalization policy" as it affects the determination of such Unit Lot Cost, then the Unit Lot Cost shall be the actual acquisition cost to Borrower for such Lot, but excluding capitalized interest, property maintenance expenses, Impositions, and similar items even though such items may be capitalized by Borrower. In determining Unit Lot Cost, Borrower may not include amounts paid by Borrower for such Lot that represent acceleration of the prorated aggregate purchase price payable for all Lots in the applicable Approved Subdivision under an Option/Purchase Agreement.
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Unit Lot Cost means, with respect to each Unit included in Eligible Collateral, the Acquisition Cost and lot development cost as set forth in the applicable Unit Budget as approved by Administrative Agent in connection with approval of the applicable Subdivision.
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More Definitions of Unit Lot Cost

Unit Lot Cost means, with respect to each Unit, the Acquisition Cost and lot development cost as set forth in the applicable Unit Budget.
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Related to Unit Lot Cost

  • Equipment Cost means, for any Item of Equipment, the gross amount paid by the Company to the manufacturer thereof, including all applicable sales taxes, and delivery charges as invoiced by such manufacturer to the Company.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • Net cost means the Contractor’s actual cost after deducting all permitted cash and trade discounts, rebates, allowances, credits, sales taxes, commissions, and refunds (whether or not any or all of the same shall have been taken by the Contractor) of all parts and materials purchased by the Contractor solely for the use in performing its obligation hereunder provided, where such purchase has received the prior written approval of the Manager as required herein. The Contractor shall promptly furnish to the Manager such bills of sale and other instruments as the Manger may require, executed, acknowledged and delivered, assuring to the Manager title to such materials, supplies, equipment, parts, and tools free of encumbrances.

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Operating Cost means the costs associated with operating a DCA funded property after it is placed in service.

  • Replacement Cost means the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of applicable building codes, ordinances or laws, and without deduction for depreciation.

  • Estimated Project Cost means Benchmark cost of MNRE which is Rs 8.00 Crore/MWp as per MNRE letter no. 03/20/2014-15/GCRT/11.12.14 at the time of Bid Due date.

  • Patient cost means the cost of a medically necessary health care service that is incurred as a result

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • FTE Cost means, for any period, the FTE Rate multiplied by the number of FTEs in such period.

  • book cost means the total amount paid to purchase a security, including any transaction charges related to the purchase, adjusted for reinvested distributions, returns of capital and corporate reorganizations;

  • Target Cost as used in this contract, means the estimated cost of this contract as initially negotiated, adjusted in accordance with paragraph (d) of this clause.

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Finished Lots Entitled Land with respect to which (a) development has been completed to such an extent that permits to allow use and construction, including building, sanitary sewer and water, are entitled to be obtained for a Unit on such Entitled Land and (b) start of construction has not occurred.

  • Construction in Progress means, as of any date, the book value (determined in accordance with GAAP) of any Projects then under development; provided that a Project shall no longer be included in Construction in Progress and shall be deemed to be a stabilized project upon the earlier of (a) the expiration of the second full fiscal quarter after substantial completion (the earlier of receipt of a temporary certificate of occupancy or a final certificate of occupancy) of such Project and (b) the last day of the fiscal quarter in which the annualized Consolidated Net Operating Income attributable to such Project divided by the Capitalization Rate exceeds the book value of such Project.

  • Total cost means the total annual cost of benefits and related costs including but not limited to claims, administration expenses, insurance premiums, consulting and advisory fees and all other costs and taxes, as reported on the insurance carrier’s most recent yearly statement and, if any, premium costs on other school authority financial statements for the year not ending later than August 31, 2015. The statements are to be provided to the Ministry of Education.

  • Total Project Cost means the lowest of the following: