Assets Under Development Clause Samples

Assets Under Development. Any Real Estate Assets for which the Borrower, any of the Borrower's Subsidiaries or any Partially-Owned Entity is actively pursuing construction of one or more Buildings or other improvements and for which construction is proceeding to completion without undue delay from Permit denial, construction delays or otherwise, all pursuant to such Person's ordinary course of business, PROVIDED that any such Real Estate Asset (or, if applicable, any Building comprising a portion of any such Real Estate Asset) will no longer be considered a Real Estate Asset Under Development when a certificate of occupancy has issued for such Real Estate Asset (or Building) or such Real Estate Asset (or Building) may otherwise be lawfully occupied for its intended use. Notwithstanding the foregoing, tenant improvements (where available) to previously constructed and/or leased Real Estate Assets shall not be considered Real Estate Assets Under Development.
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Assets Under Development. The total investment in any one of categories (i), (ii), (iii) or (iv) shall not exceed 10% of Implied Capitalization Value, the total investment in category (v) shall not exceed 20% of Implied Capitalization Value, and the total investment in all the foregoing investment categories in the aggregate shall be less than or equal to thirty percent (30%) of Market Value Net Worth. For the purposes of this Section 8.3, all investments shall be valued in accordance with GAAP.
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Assets Under Development. The Borrower shall not permit the sum of (a) the aggregate remaining Budgeted Project Costs to complete all Real Estate Assets under Development plus (b) Consolidated Outstanding Recourse Indebtedness to exceed 75% of the aggregate Asset Value of all Unencumbered Assets. For purposes of determining the Asset Value of all Unencumbered Assets for this ss.9.7, the Net Operating Income of any Unencumbered Asset acquired during such prior fiscal quarter shall be adjusted on a pro-forma basis by projecting the Net Operating Income generated by each such acquired Unencumbered Asset for the portion of the quarter during which it was owned or ground-leased by the Borrower over the entire quarter.
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Assets Under Development. (a) Certain of the Assets are under development as set forth on Schedule 14.30 (each, an “Asset Under Development”, and collectively, the “Assets Under Development”), which schedule shows (x) the estimated total project cost budget for each Asset Under Development (each, an “Estimated Asset Under Development Budget”, and collectively, the “Estimated Assets Under Development Budgets”) and whether and to what extent each Asset Under Development is above or below budget, and (y) the estimated first year Fixed Rents for each Asset Under Development for the period commencing upon the first day of the month following the applicable Closing Date (each, an “Estimated Asset Under Development Fixed Rent”, and collectively, the “Estimated Assets Under Development Fixed Rents”). If the applicable Closing occurs, then: (1) at the applicable Closing, the Sellers agree to give the Buyer a credit in the amount of the cost to complete the Assets Under Development as set forth on Schedule 14.30, as such schedule may be adjusted at the applicable Closing, as evidenced by copies of partial lien waivers from the general contractors delivered from the Sellers to the Buyer (provided that the Sellers may elect to deliver conditional partial lien waivers to satisfy this obligation if the amounts due under the conditional partial lien waivers are disbursed at applicable Closing), (1) the Buyer shall be responsible for all construction and development costs in connection with the Assets Under Development, including pursuant to the Contracts described in clause (iii) below, subject to adjustment as provided in this Section 14.30, (1) the Sellers shall assign to the Buyer, and the Buyer agrees to assume, all of the construction and development Contracts in connection with the Assets Under Development, which Contracts are set forth on Schedule 14.30(a)(iii), and (1) the Buyer agrees that, notwithstanding the obligations of the Sellers under Section 8.8, the Buyer will deliver to the Title Company a title affidavit certifying the Assets Under Development and indemnifying the Title Company for Liens arising from the Assets Under Development, and (1) the Sellers shall not object to the Buyer seeking to obtain prior to the applicable Closing estoppel certificates from each such counterparty to the Contracts to the effect that the Contracts are in full force and effect, there are no defaults thereunder, and the contractor has been paid by the Sellers for all bills rendered through the appli...
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Assets Under Development. The Borrow will not permit the amount of Consolidated Development Assets to exceed twenty percent (20%) of the amount of Consolidated Total Assets at any time.
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Assets Under Development. (a) The Borrower shall not permit Assets Under Development to exceed 10% of Consolidated Capitalization Value at any time. (b) The Borrower shall not, and shall not permit any of its Subsidiaries to, commence any construction of new Buildings or additions to existing Buildings unless (i) such proposed project is at least 50% pre-leased by size and at least 50% pre-leased by pro-forma and (ii) the Borrower and such Subsidiary are, and during the course of construction, remain in compliance with [SECTION] 7.20.
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Assets Under Development. The total investment (x) in the investment category described in clause (i) above shall not exceed five percent (5%) of Implied Capitalization Value, (y) in the investment category described in clause (iv) above shall not exceed five percent (5%) of the Implied Capitalization Value and (z) in all the foregoing investment categories shall not exceed twenty percent (20%) of Implied Capitalization Value. For the purposes of this Section 8.3, all investments shall be valued in accordance with GAAP.
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Assets Under Development 
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Related to Assets Under Development

  • Career Development The City and the Union agree that employee career growth can be beneficial to both the City and the affected employee. As such, consistent with training needs identified by the City and the financial resources appropriated therefore by the City, the City shall provide educational and training opportunities for employee career growth. Each employee shall be responsible for utilizing those training and educational opportunities made available by the City or other institutions for the self- development effort needed to achieve personal career goals.

  • Can I Roll Over or Transfer Amounts from Other IRAs or Employer Plans If properly executed, you are allowed to roll over a distribution from one Traditional IRA to another without tax penalty. Rollovers between Traditional IRAs may be made once every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, ▇▇▇▇, SEP, and SIMPLE IRAs owned. Under certain conditions, you may roll over (tax-free) all or a portion of a distribution received from a qualified plan or tax-sheltered annuity in which you participate or in which your deceased spouse participated. In addition, you may also make a rollover contribution to your Traditional IRA from a qualified deferred compensation arrangement. Amounts from a ▇▇▇▇ ▇▇▇ may not be rolled over into a Traditional IRA. If you have a 401(k), ▇▇▇▇ 401(k) or ▇▇▇▇ 403(b) and you wish to rollover the assets into an IRA you must roll any designated ▇▇▇▇ assets, or after tax assets, to a ▇▇▇▇ ▇▇▇ and roll the remaining plan assets to a Traditional IRA. In the event of your death, the designated beneficiary of your 401(k) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary IRA account. In general, strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing rollovers. Most distributions from qualified retirement plans will be subject to a 20% withholding requirement. The 20% withholding can be avoided by electing a “direct rollover” of the distribution to a Traditional IRA or to certain other types of retirement plans. You should receive more information regarding these withholding rules and whether your distribution can be transferred to a Traditional IRA from the plan administrator prior to receiving your distribution.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • SIGNIFICANT LANDS INVENTORY FINDING Find that this activity is consistent with the use classification designated by the Commission for the land pursuant to Public Resources Code section 6370 et seq.

  • Material Changes; Undisclosed Events, Liabilities or Developments Since the date of the latest audited financial statements included within the SEC Reports, except as set forth on Schedule 3.1(i), (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance of the Securities contemplated by this Agreement or as set forth on Schedule 3.1(i), no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective businesses, prospects, properties, operations, assets or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least 1 Trading Day prior to the date that this representation is made.