Delinquent Unit definition

Delinquent Unit means any Transaction Unit (other than a Defaulted Unit) with a related Transaction Lease on which any payment or part thereof in excess of $40.00 is past due for more than 30 days.
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Delinquent Unit means any Transaction Unit (other than a Defaulted Unit) with a related Transaction Lease on which any payment is past due for more than 30 days.
Sample 1Sample 2Sample 3
Delinquent Unit means a unit of the condominium which owes past due Assessments.
Sample 1Sample 2

Examples of Delinquent Unit in a sentence

  • The payments made by LMF to the Association as provided above are solely for the benefit of the Association and shall not be credited to the account of each Delinquent Unit in a manner that allows the owner of the Delinquent Unit to benefit from such payments in any way, including, without limitation, by having the delinquent owner’s obligations to the Association reduced or diminished or waived in whole or in part.

  • The owner of the Delinquent Unit shall continue to be fully liable for all obligations owed to the Association in connection with the Delinquent Unit or otherwise.

  • The Community Associations are legally entitled to collect these and most other costs from the Delinquent Unit owner.

  • BLG will advance other costs including travel and per diem expense and charge these costs to the Delinquent Unit owner.

  • It is the intent of LMF that termination shall result in no additional Delinquent Unit accounts being referred to BLG as collection Counsel under any Purchase Agreement.

  • For Delinquent Unit accounts subject to Purchase Agreements, BLG may rely upon the direction of LMF and shall be indemnified and held harmless pursuant to the Purchase Agreements as an agent of the Community Associations.

  • The Association expressly authorizes and approves LMF to lease any Delinquent Unit that LMF, its successors and assigns, now own, or come into ownership of, as a result of this Purchase Agreement.

  • After quitclaim of a Delinquent Unit from Association to LMF, LMF shall continue to pay an amount equal to all future Assessments on a current basis as long as LMF remains the unit owner.

  • Upon payment in full for a Delinquent Unit’s Delinquent Assessment(s), LMF shall direct Counsel to record a satisfaction of lien, if necessary, and re-assign all rights relating to the Delinquent Unit to Association.

  • Association shall then be reassigned the Delinquent Unit and shall not have to execute a quitclaim title for the unit to LMF.

Related to Delinquent Unit

  • Delinquent Receivable means any Receivable that is not a Liquidated Receivable and which the related Obligor fails to make at least 90% of the related Scheduled Receivables Payment by the date on which it is due and remains unpaid for more than sixty (60) days from the original payment due date.