Model Unit definition

Model Unit means a Completed Unit to be used as a model home in connection with the sale of Units in a residential housing project.

Model Unit means a Housing Unit constructed initially for inspection by prospective purchasers that is not intended to be sold until all or substantially all other Housing Units in the applicable subdivision are sold.

Model Unit means a residential dwelling located in a Subdivision which is open to the general public for viewing purposes and which is not typically available for sale until substantially all units in such Subdivision are sold.

Examples of Model Unit in a sentence

• Upon receipt by Licensee of written notice from Licensor that the Model Unit has been approved, Licensee shall construct, furnish and equip (or cause to be constructed, furnished and equipped) the Project in accordance with the level of fit, finish and quality appearing in, the general arrangement of, and the FF&E installed in, the approved Model Unit.

• Upon receipt by Licensor of written notice from Licensee of completion of the Model Unit, Licensor shall have thirty (30) days in which to review and approve the Model Unit.

• The exhibitors will be liable for the damages they cause to trees or fixed structures in the exhibition area.If the cutting instructions are not observed in wood harvesting demonstrations, the demonstrator concerned will be liable for the damage caused to the forest owner.

• Prior to assuming a lease, selling the RV/Park Model Unit, the new buyer must have an approved credit application on file.

• Salt air will deteriorate the integrity of an RV/Park Model Unit frame.

More Definitions of Model Unit

Model Unit shall have the meaning ascribed to it in Section 2.4.2.

Model Unit means a Unit that is being used as or is designated for use as a model home in connection with the sale of Units; provided, however, that, a lot that constituted a Finished Lot shall be deemed a Model Unit prior to the Commencement of Construction if so designated by the Borrower in the ordinary course of its marketing of Units.

Model Unit means any Unit which is not a Sold Unit and which is intended to be used as a model or sales office to conduct the business of marketing and selling homes.

Model Unit a Unit Under Construction to be used as a model home in connection with the sale of Units in a residential housing project. “Mortgage”: each of the mortgages, deeds of trust and similar instruments (including any spreader, amendment, restatement or similar modification of any existing Mortgage) made by any Loan Party in favor or for the benefit of Collateral Agent for the benefit of itself and the Lenders, in form and substance reasonably satisfactory to Collateral Agent and the Borrower.

Model Unit means a Unit constructed and furnished initially for inspection by prospective purchasers.

Model Unit means a Completed Unit to be used as a model home in connection with the sale of Units in a residential housing project. “Moody’s” means Moody’s Investors Service, Inc.

Model Unit means a Unit constructed and furnished initially for inspection by prospective purchasers that is not intended to be sold until all or substantially all of the other Units in the Subdivision are sold.