Cooperative Unit definition

Cooperative Unit. A single family dwelling located in a Cooperative Property.

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Cooperative Unit. With respect to any Cooperative Loan, a specific unit in a Cooperative Property.

Cooperative Unit. Means a specific unit in a Cooperative Project.

Examples of Cooperative Unit in a sentence

• The acceptance of assignment and assumption of lease agreement contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Note in the event the Cooperative Unit is transferred or sold without the consent of the holder thereof.

• Except with respect to DSCR Loans, the occupancy status of the Mortgaged Property or Cooperative Unit is in accordance with Agency Guidelines.

• The Cooperative Unit was not, as of the date of origination of the Cooperative Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Security Agreement.

• All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property or Cooperative Unit and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities.

• Guarantor makes no representation or warranty regarding the value of the Mortgaged Property or Cooperative Unit.

More Definitions of Cooperative Unit

Cooperative Unit. A specific dwelling unit in a Cooperative Building as to which exclusive occupancy rights have been granted pursuant to a Lease.

Cooperative Unit. A single family dwelling located in a Cooperative Property. Custodian: First Tennessee Bank National Association, and its successors and assigns, as custodian under the Custodial Agreement dated as of March 30, 2006 by and among The Bank of New York, as trustee, First Horizon Home Loan Corporation, as master servicer, and the Custodian. Cut-Off Date: March 1, 2006.

Cooperative Unit. A single family dwelling located in a Cooperative Property. Countrywide: Countrywide Home Loans, Inc., or any successor or assign to Countrywide under this Agreement as provided herein.

Cooperative Unit. ’ means a part of the

Cooperative Unit. ’ means a part of the cooperative property which is subject to exclu- sive use and possession by a cooperative unit owner. A unit may be improvements, land, or land and improvements together, as specified in the cooperative documents;

Cooperative Unit. With respect to any Co-op Loan, a specific unit in a Project.

Cooperative Unit. Not applicable.