Unit Budget definition

Unit Budget. The itemized budget for each Unit prepared by Agent and attached hereto as Exhibit J and any other budget to be prepared by Agent and delivered to Owner prior to the Initial Advance with respect to any Unit (as the same may be amended or modified from time to time in accordance with the provisions thereof), which budget may include costs relating to such of the following as Agent deems to be appropriate: (a) the installation of Unit FF&E, if any, thereon; (b) all costs, including, without limitation, the purchase price, survey and survey inspection charges, appraisal, architectural, engineering, environmental analysis, soil analysis and market analysis fees, title insurance premiums, brokerage commissions, transfer fees and taxes that are customarily the responsibility of the purchaser, closing adjustments for taxes, utilities and the like, escrow and closing fees, recording and filing fees, the legal fees of Owner and Agent, and all related costs and expenses incurred in acquiring and maintaining marketable fee or leasehold title to such Unit and in leasing or subleasing such Unit to Agent; (c) the costs of completion of the Unit Improvements in conformity with the Unit Plans, the Construction Agreement or any contracts in replacement thereof, including without limitation, costs of site preparation, acquiring or granting easements necessary for completion of the Unit Improvements, making utility connections, demolition, streets, parking areas, landscaping, development, off-site improvements, design and related construction of the Unit Improvements and related facilities and the costs of necessary studies, surveys, plans and permits, insurance and examination and incidental costs and expenses related thereto incurred in acquiring and maintaining marketable fee or leasehold title to such Unit and in leasing or subleasing such Unit and Unit FF&E to Agent; (d) the costs of architects', attorneys', engineers' and other professionals' fees and disbursements, in connection with the development, planning, renovation, construction, and construction financing of the Unit Improvements, including, without limitation, the fees and disbursements of Owner's counsel in connection with this Agreement and the duties of Owner hereunder, the Construction Agreement, and in all other matters involving or reasonably related to this transaction; (e) costs of all charges and assessments for the construction, improvement, maintenance, repair and restoration of streets, roads, walk...

Unit Budget means, collectively, the budgets setting forth the construction costs with respect to each Unit.

Unit Budget means a budget setting forth the Unit Construction Costs with respect to each Unit. Each Unit Budget will be subject to review and approval by Lender.

Examples of Unit Budget in a sentence

• Each Unit Budget (as updated from time to time) contains all costs, expenses, and fees anticipated to be incurred by Borrower in connection with the respective type of Unit.

• Agent shall promptly deliver to Owner and any Assignee any such amended, modified or supplemented Unit Plans, Unit Budget or Unit FF&E Specifications.

• No payment shall be made for any property or services of such architects, engineers, consultants, or contractors relating to the acquisition, construction and equipping of any Unit without the prior approval of Agent, and each amount so approved and paid shall be in accordance with the Unit Budget, and shall be part of the Unit Acquisition Cost of such Unit.

• In the case of the issuance of securities of the ---- Corporation for cash, the amount of the consideration received by the Corporation shall be deemed to be the amount of the cash proceeds received by the Corporation for such securities before deducting therefrom any reasonable discounts, commissions, taxes or other expenses allowed, paid or incurred by the Corporation for any underwriting or otherwise in connection with the issuance and sale thereof.

• Owner shall have no obligation to make the Final Advance unless Owner is satisfied that all such costs as set forth in the Unit Budget, the Certificate of Substantial Completion, and the request for the Final Advance have been actually incurred, or in the case of punch list items will be incurred, in construction and equipping of the Unit, free of all Liens, except for Permitted Liens and shall not cause the Unit Acquisition Cost of the Unit to exceed the Unit Budget.

More Definitions of Unit Budget

Unit Budget means the amount allocated by Borrower to the hard and soft costs associated with the construction of each Unit included as Eligible Collateral, as set forth in budgets and cost breakdowns delivered to Lender. The Unit Budget will specifically set forth the building permit fees, tap fees, impact fees, development fees, and other municipal, county, school district, and special district fees and assessments required prior to the start of construction, and the amount of each Unit Budget will be set forth in the Borrowing Base Reconciliation Report. The Unit Budget will be subject to review and approval by the Lender.

Unit Budget means the individual budget for a Unit which shall be agreed to by Lender and Borrower in connection with adding a Lot as Collateral.

Unit Budget in subsection 1.1 of the Agreement for Lease is amended to delete the amount "$75,000,000" and to replace such amount with the amount "$79,500,000".

Unit Budget means the amount allocated by Borrower to the hard and soft costs associated with the construction of each Unit included as Eligible Collateral, as set forth in budgets and cost breakdowns delivered to Agent. The Unit Budget will specifically set forth the building permit fees, tap fees, impact fees, development fees, and other municipal, county, school district, and special district fees and assessments required prior to the start of construction, and the amount of each Unit Budget will be set forth in the Borrowing Base Report. The Unit Budget will not include the Unit Lot Cost. The Unit Budget will be subject to review and approval by the Agent.

Unit Budget means, with respect to each Unit plan type, the budget of the costs, expenses and fees necessary for or related to construction of such Unit plan type approved by Bank in its reasonable discretion, together with any amendments or modifications thereof consented to by Bank in its reasonable discretion. Such budget shall include (i) the onsite cost of labor and materials directly related to construction of such Unit plan type, other "hard costs", construction permits, tap fees and other fees for permits required by any governmental authority, and costs of direct project supervision, (ii) for Model Units, but not Presold Units or Spec Units, costs and expenses related to upgraded landscaping, flooring, cabinets and appurtenances, but not furniture, fixtures, equipment or decorator items, and (iii) insurance costs, advertising and marketing costs, escrow and title fees, processing and closing fees, wire transfer fees, legal fees, and appraisal fees, and other "soft costs" related to construction of Units as contemplated herein (excluding sales tax

Unit Budget means the total, as shown on the Subdivision Budget, of all Direct Costs and all Indirect Costs necessary for or related to construction of each Unit and each Presold Unit in the Subdivision.

Unit Budget means, collectively, the budgets setting forth the Unit Construction Costs with respect to each Unit. Each Unit Budget will be subject to review and approval by Administrative Agent. The initial Unit Budget in the initial Approved Subdivision for Model Units, Spec Units and Presold Units is attached hereto as Exhibit G.