Model Units definition

Model Units means a maximum of five (5) model units, private common recreation facilities and sales facilities constructed by OWNER prior to the construction of any Production units and not offered for sale and occupancy until after the issuance of the first certificate of occupancy for a Production Unit.
Sample 1Sample 2
Model Units means all Units which are initially used as models or sales offices to market a particular Project and that are not intended to be sold until all or substantially all other Units in such particular Project are sold.
Sample 1Sample 2
Model Units means a maximum of twelve (12) model units, private common recreation facilities and sales facilities constructed by OWNER prior to the construction of any Production Units and not offered for sale and occupancy for a period of time after the issuance of permits for Production Units.
Sample 1

Examples of Model Units in a sentence

  • Current Model: Units furnished under this specification shall be the latest improved model in current production, as offered to commercial trade, built for the U.S. market, and shall be of quality workmanship and material.

  • Model Units shall be considered Speculative Units for the purpose of these limitations and Borrower shall have no more than two (2) Model Units at any time during the term of the Loans.

  • The plan to be submitted by OWNER for CITY approval shall describe the utilities and other infrastructure necessary to provide sufficient fire protection and other public health and safety requirements for the Model Units and other facilities.

  • According to the Town of Emerald Isle Ordinances, all RVs/Park Model Units on Premises must be towable at any time.

  • The issuance of building permits by CITY for Model Units and Production Units is, in general, contingent on OWNER’s completion of needed infrastructure improvements and the availability of improvements and services to serve the Property.

  • If Models are located in the Approved Subdivision, Borrower will grant to Lender a first priority Deed of Trust covering such Model Units which will not be subject to release, until all corresponding plan types are sold pursuant to Section 2.7.

  • The aggregate Collateral Value with respect to all Spec Units and Model Units included in the Borrowing Base shall not at any time exceed 30% of the aggregate Collateral Value of all of the Borrowing Base.

  • The Model Units within each Project shall be used solely as a model display (including landscaping and walkways), as a sales office and for parking, all in connection with the marketing and sale of Homes within such Project.

  • Permit the number of Model Units existing as of the end of any fiscal quarter to exceed 10% of the number of Unit Closings within the four fiscal quarters ending on the last day of such fiscal quarter.

  • We will call these sequences respectively the Recognized Units (RUs) and the Language Model Units (LMUs).


More Definitions of Model Units

Model Units means Units to be constructed on Lots in accordance with the Unit Plans to be used by Borrower as models for the marketing of Units.
Sample 1

Related to Model Units

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Common Units is defined in the Partnership Agreement.

  • Residential Units means individually or collectively (as the context requires), any or all residential apartment unit(s) in the Project.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • LLC Units has the meaning set forth in the LLC Agreement.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Additional Units means such Units (as defined herein) as are issued in respect of Additional Securities."

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Offered Units shall have the meaning set forth in Section 11.1 hereof.

  • Placement Units shall have the meaning given in the Recitals hereto.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • car-share parking space means a parking space that is reserved and actively used for car-sharing;

  • Class B Units means the Class B Units of the Company.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • Covered Units means: (i) during the period of the Employee’s employment with the Corporation, each business unit of the Corporation; and (ii) following the Employment Termination Date, each business unit of the Corporation in or for which the Employee was employed or to which the Employee provided services or about which the Employee obtained or had access to Confidential Information, in each case of this clause (ii) at any time within the twenty-four (24)-month period prior to the Employment Termination Date. The Employee acknowledges and agrees that if the Employee is or was employed at a segment level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of such segment; and if the Employee is or was employed at the corporate/headquarters level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of the Corporation.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Purchased Units means, with respect to a particular Purchaser, the number of Common Units equal to the aggregate Purchase Price set forth opposite such Purchaser’s name under the column titled “Purchase Price” set forth on Schedule A hereto divided by the Common Unit Price.

  • Over-Allotment Units means the additional number of Private Units the Sponsor will be required to purchase in the event that the underwriters in the Company’s initial public offering exercise their over-allotment option, as described in the prospectus relating to the Company’s initial public offering.

  • Private Units means (x) the Units purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO and (y) the additional Units that may be purchased in connection with the exercise of the over-allotment option by the underwriters in the IPO as described in the Registration Statement; (vi) “Registration Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

  • Class C Units The term "Class C Units" shall have the meaning set forth in the preface.