Qualified Units definition

Qualified Units means Units that are occupied by Project Qualified Residents, or after initial occupancy by a Project Qualified Resident, set aside for Project Qualified Residents.
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Qualified Units means only those Units for which the particular state in which the Units are sold does not (i) require that more than 12,000 Units be sold before subscribers from such state may be admitted as Limited Partners or (ii) prohibit the payment of commissions with respect to sales of such Units, provided, however, when the aggregate number of Units sold exceeds the requirements of the particular state with respect to (i) and/or (ii) above, such Units shall become Qualified Units.
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Qualified Units means the number of housing opportunity units located in the property with the limitation that no more than 2 units or 20% of the total units contained within the property, whichever is greater, may be considered qualified units. Further, no unit may be considered qualified unless the property in which it is contained is in substantial compliance with local building codes, and, moreover, no unit may be considered qualified unless it meets the United States Department of Housing and Urban Development's housing quality standards as of the most recent housing authority inspection.
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Examples of Qualified Units in a sentence

  • NIFA shall randomly select which Qualified Units and tenant records will be inspected and reviewed.

  • Based on the on-site inspection and NIFA’s receipt and review of any local health, safety or building code violations reports or notices provided by the owner, NIFA shall determine whether each building in the development and its Qualified Units are suitable for occupancy.

  • NIFA, or its designated agent, will conduct an on-site inspection of each building in the development and inspect the number of the Qualified Units and review the tenant files for such Qualified Units as required by Section 42 of the Code.

  • If there is a minimal reduction in the floor space fraction or number of Qualified Units, no recapture will occur, provided the building remains a qualifying Low Income Housing Tax Credit building.

  • If there is a minimal reduction in the floor space fraction or number of Qualified Units, no recapture will occur, provided the building remains a qualifying Housing Tax Credit building.

  • NIFA, or its designated agent, will conduct an on-site inspection of each building in the development and inspect at least 20% of the Qualified Units and review the tenant files for such Qualified Units.

  • Qualified Units rented to, or reserved for, eligible tenants:• Must have substantially the same equipment and amenities (excluding luxury amenities such as a fireplace) as other units in the Project;• Must be substantially the same size as other units in the Project; and• Cannot be geographically segregated from other units in the Project.• LIHTC units must be suitable for occupancy under Uniform Physical Conditions Standards (UPCS) and local health, safety and building codes.

  • It allows LIHTC Qualified Units to serve households earning as much as 80% of Area Median Income (AMI) so long as the average income limit of the Qualified Units is 60% or less of AMI.

  • Designated income levels for Qualified Units may be set at 10% increments between 20% and 80% of AMI.

  • Physical Requirements of Qualified Units, Suitable for Occupancy Qualified units rented to, or reserved for, eligible tenants: Must have substantially the same equipment and amenities (excluding luxury amenities) as other units in the Project; Must be substantially the same size as other units in the Project; and Cannot be geographically segregated from other units in the Project.


More Definitions of Qualified Units

Qualified Units means Dwelling Units, the respective Residents of which have an aggregate gross income of not more than the applicable limits permitted in this Agreement at the time of initial occupancy. A Residential Unit occupied by one or more students will only constitute a Qualified Unit if such students meet the requirements of Section 142(d)(2)(c) of the Code. The character of a Unit as a Qualified Unit will be re-determined from time to time as described in this Agreement. [Note: If shaded sentence not applicable, delete.]
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Qualified Units means the number of housing opportunity units located in the property, with the limitation that no more than two units or 20 percent of the total units in the property, whichever is greater, may be considered qualified units. The unit must also be in compliance with local building codes and housing quality standards.
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Qualified Units means those low-income apartment units in the Apartment Complex which meet the requirements of Section 42(i)(3) of the Code.
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Qualified Units means Dwelling Units, the respective Residents of which have an aggregate gross income of not more than the applicable limits permitted in this Agreement at the time of initial occupancy. A Residential Unit occupied by one or more students will only constitute a Qualified Unit if such students meet the requirements of Section 142(d)(2)(c) of the Code. The character of a Unit as a Qualified Unit will be re-determined from time to time as described in this Agreement. There are to be twenty-four (24) Qualified Units in the Project and zero (0) manager’s units, which when not occupied by an onsite manager acceptable to OHCS, also shall be deemed to be (and must comply with the terms of) a Qualified Unit.
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Qualified Units means the number of housing opportunity
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Related to Qualified Units

  • 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.

  • Restricted Units has the meaning set forth in the recitals to this Award Agreement.

  • 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.

  • Tendered Units shall have the meaning set forth in Section 8.6.A.

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

  • Redeemed Units has the meaning set forth in Section 11.01(a).

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Designated Unit means information technology devices (e.g. hard disks or central processing units) identified by Licensee pursuant to this Agreement that have been officially made known to the public as appropriate for Use or interoperation with the Software.

  • 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.

  • 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.

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

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

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

  • 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.

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

  • Exempt Securities has the meaning set forth in Section 4.4(d).

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

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

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Company Units has the meaning set forth in the Recitals.

  • Unrestricted Shares means a grant of Shares made on an unrestricted basis pursuant to Section 13 of the Plan.

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

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.