Employee Unit definition

Employee Unit means a Dwelling Unit designated as an employee unit in accordance with Part II herein to be used, occupied and Disposed of in accordance with this Agreement;

Employee Unit means any Bonus Pool Unit that is held by an Employee Member or a permitted transferee thereof (other than Managing Member or any other subsidiary of the Company).

Employee Unit means a Unit set aside by Project management as a Residential Rental Unit for a manager, or a maintenance person, and/or a security officer (see Arizona Department of Housing LIHTC Compliance Manual, Section 3.2.1.). ADOH will consider Residential Rental Units as Low-Income Units. Industry standards indicate that one manager’s Unit and one maintenance person’s Unit are needed per one hundred Units. One security officer’s Unit per Project is allowed if management can show that the Unit is reasonably required. Project management, in its discretion, may designate such Units for employees or return them to service as Low-Income Units as circumstances dictate. In accordance with IRS Revenue Ruling 92-61, while these Units are Employee Units they will be included in the eligible basis of the building but will be excluded from both the numerator and the denominator of the applicable fraction. In mixed-income properties, ADOH will assume that any Employee Units are taken from the low-income rather than the market-rate side.

Examples of Employee Unit in a sentence

• If, and for so long as, title in the LTO to the Employee Unit remains in the name of a deceased owner, the executor of the deceased owner’s estate may request that the Municipality permit occupancy of the Employee Unit on a rental basis in accordance with the requirements of this Agreement and the Municipality may, in its sole discretion, approve of such an arrangement, on such terms and conditions as the Municipality may consider necessary to achieve the intent of this Agreement.

• If the Employee Unit is sold for a sale price exceeding the Maximum Price, the Owner of the Employee Unit will pay the excess amount to the Municipality, as a rent charge under the preceding section, within 30 days after written demand is made by the Municipality.

• In addition, if the Owner dies without a spouse, but has a child younger than 19 years old, the Municipality may, in its sole discretion, approve of a transfer to another family member or the child’s legal guardian, even though not a Qualified Person, who may occupy the Employee Unit with the child, on such terms and conditions as the Municipality may consider necessary to achieve the intent of this Agreement.

• If the Municipality exercises the Option, this Agreement will become a binding agreement for the purchase and sale of the Employee Unit, which shall be completed upon the terms and conditions contained in this Agreement.

• An Employee Unit may not be sold or otherwise transferred for a sale price that exceeds the Maximum Price for the Employee Unit, and in the case of a transfer of the Land before any subdivision or a single transfer of all Employee Units that are subject to this Agreement, the price must not exceed the sum of the Maximum Prices for the Employee Units.

More Definitions of Employee Unit

Employee Unit means an appropriate group of employees for the

Employee Unit means a Unit set aside by project management as a Residential Rental Unit for a manager, or a maintenance person, and/or a security officer (see Arizona Department of Housing LIHTC Compliance Manual, Section 3.2.1.). ADOH considers Residential Rental Units as Low‐Income Units. Industry standards indicate that one manager’s Unit and one maintenance person’s Unit are needed per one hundred units. One security officer’s Unit per project is allowed if management can show that the Unit is reasonably required. Project management, in its discretion, may designate such units for employees or return them to service as Low‐Income Units as circumstances dictate. In accordance with IRS Revenue Ruling 92‐61, while these units are employee units they shall be included in the eligible basis of the building but shall be excluded from both the numerator and the denominator of the applicable fraction. In mixed‐income properties, ADOH assumes that any employee units are taken from the low‐income rather than the market‐rate side.

Employee Unit means a Dwelling Unit used and occupied

Employee Unit means the residential dwelling unit located on or comprising the Land, whether that dwelling unit is an entire building or part of a building, and whether or not it is a strata lot.

Employee Unit means a Unit set aside by Project management as a Residential Rental Unit for a manager, or a maintenance person, and/or a security officer (see Arizona Department of Housing LIHTC Compliance Manual, Section 3.2.1.). ADOH will consider Residential Rental Units as Low-Income Units. Industry standards indicate that one manager’s Unit and one maintenance person’s Unit are needed per one hundred Units. One security officer’s Unit per Project is allowed if management can show that the Unit is reasonably

Employee Unit means an appropriate group of employees for the purposes of collective bargaining as determined, if necessary, by the New Jersey State Board of Mediation.

Employee Unit means those employees in the Maintenance Department and a group of employees designated by family of schools, as determined by the Halifax Regional School Board.