Rent Ready Units Sample Clauses

Rent Ready Units. Owner acknowledges that it is the Manager's stated business policy to offer for rent only units in Rent Ready Condition. Rent Ready Condition means that the unit is habitable under applicable law, clean according to Manager’s standards, that all amenities are in working order and that the unit has been re-keyed, at Owner’s expense, since the prior tenant. Owner agrees to reference the Rental Preplist for details on approved conditions of Rent Ready Conditions.
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Rent Ready Units. Seller agrees that, at Closing, Purchaser shall receive a credit against the Purchase Price for the Property in an amount equal to the product of (a) the number of Tenant Units on the date which is 7 days prior to the Closing Date which are vacant and not in Rent-Ready Condition, and (b) $400.00.
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Rent Ready Units. Seller shall, at its sole cost and expense, use commercially reasonable efforts to cause all units at the Property that have been vacated prior to the date which is five (5) Business Days prior to the Closing to be in rent ready condition at the Closing in a manner generally consistent with the manner in which Seller prepares vacated apartments for rent ready condition prior to the date hereof, and, with respect to any such unit that is not rent ready on the date that is one (1) Business Day prior to the Pre-Closing Date, Purchaser shall be entitled to receive a credit against the Purchase Price in the amount of $750.00 per such vacant unit that is not in rent-ready condition.
Sample 1
Rent Ready Units. Seller agrees to make Rent-Ready all apartment units at the Property which become vacant five (5) or more business days prior to the Closing, and to credit Purchaser at Closing in the amount of $500 for each apartment unit at the Property which is vacant on the Closing Date and which was previously occupied and has been vacant for five (5) or more business days prior to the Closing Date, and which has not been made Rent-Ready, provided that Purchaser shall notify Seller at least one (1) day prior to Closing of any units which Purchaser believes are not in Rent-Ready condition. “Rent-Ready” shall mean all those apartment units that are vacant at the Closing shall be in rentable condition and equipped with appliances installed, maintenance shall be performed, all walls shall be repainted, and all carpet shall be professionally steam cleaned or replaced as necessary, and shall be in condition consistent with customary industry standards for similar first class properties in which institutional apartment owners deliver apartment units to new tenants.
Sample 1
Rent Ready Units. At Closing, each unit at the Property vacated five or more days before the Closing must be in rent-ready condition at the Closing or Buyer will receive a credit at Closing equal to $1,000.00 per unit that is not in such rent-ready condition. Buyer and Seller will conduct a joint walk through of the Property before Closing and complete a list of all such units that are not in rent-ready condition.
Sample 1
Rent Ready Units. At Closing, Buyer shall receive a credit to the Consideration in an amount equal to $750.00 for each unit that was vacant more than 5 days prior to the Closing Date, and that is not in “Rent Ready Condition” as of the Closing Date. “Rent Ready Condition” shall mean the condition in which vacated apartments units are made at the Property in accordance with Seller’s standard practice.
Sample 1
Rent Ready Units. Between the Effective Date and Closing, Seller will cause vacant rental units at the applicable Real Property (each a “Vacant Unit” and collectively the “Vacant Units”) to be “made ready” for reletting and occupancy in accordance with Seller’s current standards and timetable for turning units over. Seller has no obligation to have all of the Vacant Units “made ready” as of the applicable Closing Date, but only those Vacant Units that would have been “made ready” in the ordinary course of business. If any Vacant Unit has been vacant for more than ten (10) days prior to the Closing Date and such Vacant Unit is not in move-in condition as of the Closing Date (based upon the condition of other apartments leased at the Property prior to the Closing Date), then Buyer shall receive a credit at Closing in an amount equal to Five Hundred and No/100 Dollars ($500.00) for each such Vacant Unit.
Sample 1
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Rent Ready Units. All unoccupied tenant units (a “Unit”) as of the Closing Date shall be delivered to Buyer in Rent Ready condition at the Closing. A Unit shall be “Rent Ready” if its condition is consistent with the condition of Units currently being marketed to and accepted for rental by tenants. Buyer and Seller (or their designated representatives) shall conduct a walk-through of the unoccupied Units within five (5) Business Days prior to the Closing to determine if any Units are not Rent Ready. Buyer shall receive a credit on the Settlement Statement at the Closing equal to Seven Hundred Fifty and No/100 Dollars ($750.00) per Unit that is reasonably determined by the parties to be not Rent Ready.
Sample 1

Related to Rent Ready Units

  • Additional Units The General Partner may from time to time in its sole and absolute discretion admit any Person as an additional Limited Partner of the Partnership (each such Person, if so admitted, an “Additional Limited Partner” and, collectively, the “Additional Limited Partners”). A Person shall be deemed admitted as a Limited Partner at the time such Person (i) executes this Agreement or a counterpart of this Agreement and (ii) is named as a Limited Partner in the books of the Partnership. Each Substitute Limited Partner shall be deemed an Additional Limited Partner whose admission as an Additional Limited Partner has been approved in writing by the General Partner for all purposes hereunder. Subject to the satisfaction of the foregoing requirements and Sections 4.1(c) and 10.2(b), the General Partner is hereby expressly authorized to cause the Partnership to issue additional Units for such consideration and on such terms and conditions, and to such Persons, including the General Partner, any Limited Partner or any of their Affiliates, as shall be established by the General Partner in its sole and absolute discretion, in each case without the approval of any other Partner or any other Person. Without limiting the foregoing, but subject to Sections 4.1(c) and 10.2(b), the General Partner is expressly authorized to cause the Partnership to issue Units (A) upon the conversion, redemption or exchange of any debt or other securities issued by the Partnership, (B) for less than fair market value or no consideration, so long as the General Partner concludes that such issuance is in the best interests of the Partnership and its Partners, and (C) in connection with the merger of any other Person into the Partnership if the applicable merger agreement provides that Persons are to receive Units in exchange for their interests in the Person merging into the Partnership. The General Partner is hereby expressly authorized to take any action, including without limitation amending this Agreement without the approval of any other Partner, to reflect any issuance of additional Units. Subject to Sections 4.1(c) and 10.2(b), additional Units may be Class A Common Units, Class B Common Units or other Units.

  • Units Interests in the Partnership shall be represented by Units. The Units initially are comprised of one Class: Class A Units. The General Partner may establish, from time to time in accordance with such procedures as the General Partner shall determine from time to time, other Classes, one or more series of any such Classes, or other Partnership securities with such designations, preferences, rights, powers and duties (which may be senior to existing Classes and series of Units or other Partnership securities), as shall be determined by the General Partner, including (i) the right to share in Profits and Losses or items thereof; (ii) the right to share in Partnership distributions; (iii) the rights upon dissolution and liquidation of the Partnership; (iv) whether, and the terms and conditions upon which, the Partnership may or shall be required to redeem the Units or other Partnership securities (including sinking fund provisions); (v) whether such Unit or other Partnership security is issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which each Unit or other Partnership security will be issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Total Percentage Interest as to such Units or other Partnership securities; and (viii) the right, if any, of the holder of each such Unit or other Partnership security to vote on Partnership matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units or other Partnership securities. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the Class A Units and any other Classes that may be established in accordance with this Agreement. All Units of a particular Class shall have identical rights in all respects as all other Units of such Class, except in each case as otherwise specified in this Agreement.

  • Common Units The capital structure of the Company shall consist of one class of common interests (the "Common Units"). The Company shall have authority to issue one thousand (1,000) Common Units. Each Common Unit shall have one vote and shall otherwise be identical with each other Common Unit in every respect.

  • Fractional Units For purposes of this Agreement, any fractional LTIP Units that vest or become entitled to distributions pursuant to the Partnership Agreement shall be rounded as determined by the Company or the Partnership; provided, however, that in no event shall such rounding cause the aggregate number of LTIP Units that vest or become entitled to such distributions to exceed the total number of LTIP Units set forth in Section 1 of this Agreement.

  • Option Units The Representative is hereby granted an option (the “Over-allotment Option”) to purchase up to an additional 1,500,000 units (the “Option Units”), the gross proceeds of which will be deposited in the Trust Account, for the purposes of covering any over-allotments in connection with the distribution and sale of the Firm Units. Such Option Units shall be identical in all respects to the Firm Units. Such Option Units shall be purchased for each account of the several Underwriters in the same proportion as the number of Firm Units, set forth opposite such Underwriter’s name on Schedule A hereto, bears to the total number of Firm Units (subject to adjustment by the Representative to eliminate fractions). The Firm Units and the Option Units are hereinafter collectively referred to as the “Units,” and the Units, the shares of Common Stock and Warrants included in the Units, and the shares of Common Stock issuable upon exercise of the Warrants are hereinafter referred to collectively as the “Public Securities.” No Option Units shall be sold or delivered unless the Firm Units previously have been, or simultaneously are, sold and delivered. The right to purchase the Option Units, or any portion thereof, may be exercised from time to time and to the extent not previously exercised may be surrendered and terminated at any time upon notice by the Representative to the Company. The purchase price to be paid for each Option Unit will be the same price per Firm Unit set forth in Section 1.1.1 hereof.

  • Purchase of the Units (a) The Company agrees to issue and sell the Underwritten Units to the several Underwriters as provided in this underwriting agreement (this “Agreement”), and each Underwriter, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase at a price per Unit of $9.80 (the “Purchase Price”) from the Company the respective number of Underwritten Units set forth opposite such Underwriter’s name in Schedule 1 hereto.

  • Member Units Each Member’s interest in the Company, including such Member’s interest in income, gains, losses, deductions and expenses of the Company and the right to vote on certain matters as provided in this Agreement, shall be represented by the Units owned by such Member.

  • Class A Units If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Class A Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Class A Unit from the proceeds of the Warrant exercise. Class B Payments: If a Warrantholder exercises Warrants, then the Class B Units designated to be called in connection with such exercise shall receive the corresponding portion of the Class B Present Value Amount, adjusted for accrued Class B Payments on the Class B Units otherwise paid. If the Underlying Security Issuer redeems Underlying Securities and the previous paragraph does not apply, then the Class B Units designated for a redemption in connection with such redemption of Underlying Securities shall receive the amount with respect to the Class B Present Value Amount allocated for distribution in accordance with the applicable provisions of the Distribution Priorities below, paid as of the date of such redemption as an additional distribution.

  • Class B Units The term “Class B Units” means the Units having the privileges, preferences, and rights specified with respect to “Class B Units” in this Agreement, including those described in Section 7.1(c)(3).

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