Model House definition

Model House means a House which is to be, has been, or is in the process of being, constructed, and which is not the subject of an Approved Sales Contract, and is intended by Borrower to be furnished and used by Borrower for on-site office and/or marketing purposes.
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Model House. A Lot and the single Improvement that is to be, has been, or is in the process of being, constructed thereon and which at the time of any Advance covering such Lot and Improvement is not the subject of an Approved Sales Contract and is intended by Borrower to be furnished and used by Borrower for on-site office and/or marketing purposes. A Model House shall not also be deemed to be a Spec House. A Model House will become and constitute a Pre-Sold House when, and for so long as, such Model House becomes subject to an Approved Sales Contract.
Sample 1
Model House means a House built by Borrower for the purpose of marketing Borrower's inventory to prospective purchasers and not for immediate sale. The term "Model House" includes the Lot upon which it is located.
Sample 1

Examples of Model House in a sentence

  • The amount equal to eighty-five percent (85%) of the Total Cost of such Model House.

  • Upon Administrative Agent’s request, in connection with any Borrowing Base Report, Borrower shall furnish to Administrative Agent evidence of the Total Cost for each parcel of Entitled Land, LUD, Lot, Model House, Pre-Sold House and Spec House, in form and substance acceptable to Administrative Agent.

  • Upon the Administrative Agent’s reasonable request, in connection with any Borrowing Base Certificate, the Borrower shall furnish to the Administrative Agent evidence of the Total Cost for the Entitled Land, LUD, Lot, Model House, Pre-Sold House and Spec House, in form and substance reasonably acceptable to the Administrative Agent.


More Definitions of Model House

Model House means a House built by Borrower for the purpose of marketing Borrower’s
Sample 1
Model House means a House held by Borrower for exhibiting a representative House to the public and not at that time being held or offered for sale, which shall not be subject to an Approved Purchase Agreement.
Sample 1

Related to Model House

  • Rooming house means any dwelling, or that part of a dwelling containing one or more rooming units in which space is let by the owner or operator to three or more persons who are not husband and wife, son or daughter, mother or father, or sister or brother of the owner or operator.

  • Boarding house means a residence in which lodg- ing and meals are provided. Each resident of a boarding house is charged a lump sum to cover the costs of lodging and meals with no separate accounting for the fair selling price of the meals.

  • Halfway house means a facility licensed by the division of parole and community services of the department of rehabilitation and correction pursuant to section 2967.14 of the Revised Code as a suitable facility for the care and treatment of adult offenders.

  • dwelling house means any residential property assessed as real

  • lodging house means a building designed or intended to contain, or containing Lodging Units where the residents share access to common areas of the building, other than the Lodging Units;

  • Rental housing means development of a building or structure with four or more dwelling units all of which are intended for use as rented residential premises;

  • Trinity House means the Corporation of Trinity House of Deptford Strond;

  • Traffic lane or "lane" means that portion of a roadway designed or designated to accommodate the

  • Clubhouse means a community-based program that provides

  • Off-highway vehicle means the same as that term is defined in Section 41-22-2.

  • Energy storage system means a system which stores energy and releases it in the same form as was input.

  • Median household income (MHI) means the calculation computed by the U.S. Census Bureau - Income of Households - This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one-person, average household income is usually less than average family income. The median divides the income distribution into two equal parts with 50% of the cases falling below the median income and 50% above the median. For households and families, the median income is based on the distribution of the total number of households and families, including those with no income. The median income for individuals is based on individuals 15 years old and over with income. Median income for households, families, and individuals is computed on the basis of a standard distribution.

  • guest house means an accommodation establishment providing overnight lodging with at least one daily meal;

  • Air ambulance means any aircraft specifically constructed, modified, or equipped and used for the primary purpose of responding to emergency calls and transporting critically ill or injured patients whose medical flight crew has at a minimum two attendants certified or licensed in advanced life support.

  • Transient lodging means a room or a suite of rooms.

  • Clearing House means a clearing house recognised by the laws of the jurisdiction in which the Shares (or depositary receipts therefor) are listed or quoted on a stock exchange or interdealer quotation system in such jurisdiction.

  • Rate Center Area means the following in each applicable area:

  • water meter means any apparatus for measuring or showing the volume of water supplied to, or of effluent discharged from any premises;

  • Transportation network company means a company or organization facilitating and/or providing transportation services using a computer or digital application or platform to connect or match passengers with drivers for compensation or a fee.

  • Stormwater management planning area means the geographic area for which a stormwater management planning agency is authorized to prepare stormwater management plans, or a specific portion of that area identified in a stormwater management plan prepared by that agency.