Ownership Unit definition

Ownership Unit means an undivided 1/52nd ownership interest in a residential condominium unit.
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Ownership Unit means and refer to:
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Ownership Unit means a residential unit with a condominium or other subdivision map allowing units to be sold individually.
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Examples of Ownership Unit in a sentence

  • The following describes the process for applying for and purchasing a BMR Ownership Unit.

  • Prior to marketing a BMR Ownership Unit for initial sale, the Project Sponsor shall transmit a copy of the Notice of Special Restrictions (“NSR”), final planning approval, approved floor plans indicating the location of the BMR Units in the building, and final HOA dues for each BMR Unit to MOH, together with a request for determination of initial sales pricing on a form provided by MOH.

  • Applicants must submit a BMR application form and supporting documentation by a specific deadline for each BMR Ownership Unit by a specified deadline for that unit.

  • Buying, owning, and selling an Affordable Below Market Rate (BMR) Ownership Unit differs in many ways from buying, owning, and selling a market rate.

  • The adjustment shall be made in a manner that will cause the relationship between the aggregate appreciation in the outstanding Common Stock and the increase in value represented by each Phantom Ownership Unit to remain unchanged as a result of the transaction.

  • Limitations on Indebtedness Secured by Ownership Unit; Subordination.

  • In addition to Household size and income requirements listed in Sections II and III of this Manual, the following are qualification requirements for a BMR Ownership Unit.

  • Building locations in subsequent development shall not interfere with any stormwater detention facility located on a Lot or subsequent Ownership Unit, and the same shall generally be the maintenance responsibility of the specific association responsible for maintenance of such common features or elements.

  • The Members may, but are not required, to contribute additional capital deemed necessary by a vote of a majority of the Ownership Unit holders of the Company.

  • Therefore, the Board has combined the role of Chairman and Managing Director.


More Definitions of Ownership Unit

Ownership Unit shall have the meaning specified in Section 9.1(a).
Sample 1
Ownership Unit means, for each Member, that percentage which is obtained by dividing the Membership Units held by a Member by the total of all Membership Units held by all the Members. For the purposes of voting matters, the Manager shall determine each Member’s Ownership Unit as of the Record Date.
Sample 1
Ownership Unit means and refer to any original lot or group of original lots located within the recorded subdivision of The Properties designed and intended for use and occupancy as a residence by a single family. [Note: Original Bylaws skip (f)]
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Related to Ownership Unit

  • Membership Unit means an outstanding common membership unit of the LLC.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

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

  • LTIP Unit means a Limited Partnership Interest which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.4 hereof and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • 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.

  • Ownership Share means, with respect to any Subsidiary of a Person (other than a Wholly Owned Subsidiary) or any Unconsolidated Affiliate of a Person, the greater of (a) such Person’s relative nominal direct and indirect ownership interest (expressed as a percentage) in such Subsidiary or Unconsolidated Affiliate or (b) such Person’s relative direct and indirect economic interest (calculated as a percentage) in such Subsidiary or Unconsolidated Affiliate determined in accordance with the applicable provisions of the declaration of trust, articles or certificate of incorporation, articles of organization, partnership agreement, joint venture agreement or other applicable organizational document of such Subsidiary or Unconsolidated Affiliate.

  • Preferred Share means a share of stock of the General Partner of any class or series now or hereafter authorized or reclassified that has dividend rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the REIT Shares.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Ownership Interests means, with respect to any entity, any ownership interests in the entity and any economic rights (such as a right to distributions, net cash flow or net income) to which the owner of such ownership interests is entitled.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Partnership Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Ownership Interest As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Fractional Undivided Interest Means the fractional undivided interest in the Trust that is evidenced by a Certificate.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • Preferred Unit means a fractional, undivided share of the Partnership Interests that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units that the General Partner has authorized pursuant to Section 4.2 hereof.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.