Unit Owner Sample Clauses

Unit Owner. Unit Owner" means each person or entity holding a record ownership interest in a Condominium, including Declarant. "Unit Owner" shall also mean a lessee of an entire Condominium under a long-term lease from the issuer of a Certificate of Participation; provided that such lease assigns all rights as a "Unit Owner" to the lessee; and provided further that in no event shall both the Unit Owner and its lessee under this Section 2.0l(y) have simultaneous membership in the Corporation. Subject to the preceding, "Ownership" shall include membership in the Corporation. "Owner" shall not include persons or entities who hold an interest in a Condominium merely as security for the performance of an obligation.
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Unit Owner. The portion of insurance proceeds representing damage, the reconstruction and repair of which is the responsibility of the Unit Owner, shall be paid by the Insurance Trustee to the Unit Owner or, if there is a Mortgagee endorsement, to the Unit Owner and the Mortgagee jointly, who may use such proceeds as they may be advised; provided that, unless the Condominium is terminated as set forth in this Master Deed, the Unit Owner or Mortgagee shall be obligated to use the insurance proceeds to reconstruct or repair the Limited Common Elements appurtenant to such Owner’s Unit to their condition prior to the casualty or loss.
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Unit Owner. Unit Owner means the residential owner or purchaser of a Unit.
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Unit Owner. The Owner and every title owner thereafter, including (i) any transferee receiving title to or a fee interest in the Unit (a) after having been determined to be, or having represented his or her self as, a Qualified Buyer or (b) based on any representation or intent to own and occupy the Unit as an Owner-Occupied Unit or as such owner’s Primary Residence; and (ii) all subsequent person(s) vested with record title of the Unit according to the records of the County Recorder of Summit County, Utah; however, Unit Owner shall not include a person who holds an interest in the Unit merely as security for the performance of an obligation, and, solely in regards to the restrictions contained in this Covenant, the City shall not be considered a Unit Owner.
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Unit Owner and Tenant acknowledge that the Condominium reserves the right to withhold from Tenant access to common element amenities and to withhold from the Tenant use of the parking spaces assigned to the unit in the event that Tenant fails to comply with any of the provisions of the Declaration, the Bylaws or the Rules and Regulations.
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Unit Owner. The portion of insurance proceeds representing damage for which the responsibility of reconstruction and repair lies with the unit owner shall be paid by the Association to the unit owner or if there is a mortgage endorsement, then to the unit owner and the mortgagee jointly, who may use such proceeds as they may be advised.
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Unit Owner. The person or entity having title to a unit or units in the Condominium.
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Unit Owner 
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Related to Unit Owner

  • Owner The term “

  • General Partner (a) The business, property and affairs of the Partnership shall be managed under the sole, absolute and exclusive direction of the General Partner, which may from time to time delegate authority to officers or to others to act on behalf of the Partnership.

  • Managing Member Unless otherwise expressly provided in this Agreement, the Managing Member or any of its Affiliates who hold any Interests shall not be entitled to vote in its capacity as holder of such Interests on matters submitted to the Members for approval, and no such Interests shall be deemed Outstanding for purposes of any such vote.

  • General Partner Gross Income Allocation After giving effect to the special allocations in paragraph 2 but prior to any allocations under subparagraphs 1(a) or 1(b), there shall be specially allocated to the General Partner an amount of (i) first, items of Partnership income and (ii) second, items of Partnership gain during each fiscal year or other applicable period in an amount equal to the excess, if any, of (A) the cumulative distributions made to the General Partner under Section 7.3(b) of the Agreement, other than distributions which would properly be treated as “guaranteed payments” or which are attributable to the reimbursement of expenses which would properly be either deductible by the Partnership or added to the tax basis of any Partnership asset, over (B) the cumulative allocations of Partnership income and gain to the General Partner under this subparagraph 1(c)(i).

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

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