Hotel units definition
Hotel units means more than four residential unit ownership equivalents in a project that are owned, in whole or in part, directly, or indirectly through one or more intermediate entities, by one person or by a group of related persons if the person or group of related persons uses the residential units or parts thereof in connection with a business establishment primarily to provide lodging, camping, or personal care or health facilities to the general public predominantly on an overnight or weekly basis. "Hotel unit" means any residential unit included in hotel units. For purposes of this subparagraph (III):
Hotel units means more than four residential unit ownership equivalents in a project that are owned, in whole or in part, directly, or indirectly through one or more intermediate entities, by one person or by a group of related persons if the person or group of related persons uses the residential units or parts thereof in connection with a business establishment primarily to provide lodging, camping, or personal care or health facilities to the
Hotel units means more than four residential unit ownership equivalents in a project that are owned, in whole or in part, directly, or indirectly through one or more
Examples of Hotel units in a sentence
Development Agreement to establish maximum density of 550 residential units for NMUP (exclusive of Hotel units), with following provisions: Duration.
More Definitions of Hotel units
Hotel units means each separately-keyed lodging unit in the Hotel as set forth on Exhibit C attached hereto, and “Hotel Unit” shall mean any of the foregoing; provided, however, that the term “Hotel Units” does not include 179 residential condominium units at the Condominium that are owned by third parties and are not part of the collateral for the Loan, including Residential Units 1826, 1910, 1912, 1915, 3214, 3801 and 3910 which are currently owned by the Joint Venture Group.