Junior Unit definition

Junior Unit means a fractional share of the Partnership Interests that the General Partner has authorized pursuant to Section 4.01, 4.03 or 4.04 hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are junior in rank to the OP Units.

Junior Unit means a Unit representing a fractional part of the Company Interests of the Members that the Managing Member has authorized pursuant to Section 3.02 that has distribution rights that are inferior or junior to the Common Units.

Junior Unit means any of the Common Units or Class B Units, any unit of a new series of Units that are junior to the Preferred Units in respect of the distribution of assets on liquidation, dissolution or winding up of the Company, if any, and any units or other equity interests into which any of the same shall have been converted or exchanged.

Examples of Junior Unit in a sentence

• The industrial organisation must realize the ne- cessity of having access to the research-based knowledge present at the university and which goal they have to achieve.

• The following LDC amendments address items related to Accessory Dwelling Units (ADUs) and Junior Accessory Dwelling Units (JADUs): • Replacement of the Companion Unit, Junior Unit and Movable Tiny Homes Regulations with New Accessory Dwelling Unit and Junior Accessory Dwelling Unit Regulations in Order to Implement New State ADU and JADU Legislation Several bills were passed at the end of 2019 which addressed ADUs and JADUs, including AB 68, AB 587, AB 881, and SB 13.

• In the event the City determines that an architect or designer is required to draw the plans for the proposed ADU, the City will provide a grant to Owner in the amount of up to Two Thousand Dollars ($2,000) [Four Thousand Dollars ($4,000)] to cover the costs to design the Junior Unit [Coverted ADU] (“Design Grant”) provided that the Owner enters into an agreement for design services with an architect or designer approved by the City.

• If the City determines the design of the proposed Junior Unit (or Converted ADU) requires the services of an engineer, the City may provide a grant of up to $3,000 to cover the costs of an engineer.

• Prior to commencing the construction of a Junior Unit, a pre-construction conference will be held with the Borrower, the selected contractor (“Contractor”), sub-contractors, and City staff.

More Definitions of Junior Unit

Junior Unit means any of the Common Units, Class B Units or Class L Units, any unit of a new series of Units that are junior to the Preferred Units in respect of the distribution of assets on liquidation, dissolution or winding up of the Company, if any, and any units or other equity interests into which any of the same shall have been converted or exchanged.

Junior Unit means a residential unit that complies with the requirements of Napa Municipal Code Section 17.52.015(F), that is no larger than 500 square feet in size, and that is created within an owner-occupied single-family home by carving out a sleeping room, efficiency kitchen and ancillary space into a separate unit. Junior Units may have private or shared bathrooms.

Junior Unit means a Partnership Unit that is not a Preferred Unit, and includes the Common Units.

Junior Unit means a Unit representing a fractional part of the Company Interests of the Members that the Managing Member has authorized pursuant to Section3.02 that has distribution rights that are inferior or junior to the Common Units.

Junior Unit means a fractional share of the Partnership Interests that the General Partner has authorized pursuant to Section 4.01 , 4.02 , or 4.03hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are junior in rank to the OP Units.

Junior Unit means a residential unit that complies with the requirements of Napa Municipal Code Section 17.52.015(F), that is no larger than 500 square feet in size, and that is created within the existing walls of a single-family home by carving out a sleeping room, efficiency kitchen and ancillary space into a separate unit. The owner must live on-site in either the primary or the Junior Unit. Junior Units may have private or shared bathrooms.

Junior Unit shall include any Common Unit.