SNH » Topics » Asset Under Development

This excerpt taken from the SNH 8-K filed Aug 1, 2005.
Asset Under Development” means, as of any date of determination, any Property owned by the Borrower or any of its Subsidiaries on which the construction of new income-producing improvements has been commenced and is continuing, with both the land and the improvements under construction thereon which comprise such Property to be valued at then-current book value, as determined in accordance with GAAP. In the event of construction of an addition or expansion to an existing income producing Property, only the addition or expansion shall be considered an Asset Under Development.


Assignee” has the meaning given that term in Section 12.5.(b).


"Asset Under Development" elsewhere:

Equity Commonwealth (HRP)
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