Restricted Unit definition

Restricted Unit means a Unit granted under the Plan that is subject to a Restricted Period.

Restricted Unit means a dwelling unit, whether a rental unit or ownership unit, that is subject to the affordability controls of N.J.A.C. 5:80-26.1, as may be amended and supplemented, but does not include a market-rate unit financed under UHORP or MONI.

Restricted Unit means a Unit granted pursuant to Section 6(b) of the Plan that is subject to a Restricted Period.

Examples of Restricted Unit in a sentence

• Unless otherwise agreed in writing by the parties, Click or tap here to enter text.
  units will be reserved for occupancy by a resident manager and will not be restricted as a Restricted Unit.

• Commencing on date of initial occupancy of any Restricted Unit and subsequently on the anniversary date of such initial occupancy each year, Developer shall pay to the County the compliance monitoring costs associated with this agreement (“Annual Monitoring Cost”).

• At the time of initial occupancy of the Restricted Units and continuing throughout the Affordability Period, Developer shall charge only that Rent permitted hereunder or approved by TCAC for such Restricted Unit at the Income Limit specified in this Agreement (as may be modified in accordance with subsection (a) above).

• Each Eligible Household selected to occupy a Restricted Unit shall enter into a written occupancy agreement (“Tenant Lease”) with the Developer, the form of which shall have been approved by the County and which shall contain provisions required by this Agreement.

More Definitions of Restricted Unit

Restricted Unit means an Award of units representing Shares described in Section 9.1(b) of the Plan.

Restricted Unit means an apartment that is subject to an extended lease arrangement as provided in subsection (4).

Restricted Unit means a Unit granted under Section 4.6 to acquire Shares or an equivalent amount in cash, which Unit is subject to any restrictions that the Committee, in its discretion, may impose.

Restricted Unit means any Assisted Unit and any Unit that is subject to Rent and occupancy restrictions that are comparable to those applicable to Assisted Units. Restricted Units include Units subject to a TCAC regulatory agreement, and all Units subject to similar long-term, low-income or occupancy restrictions imposed by other public agencies.

Restricted Unit means a notional account established pursuant to an Award granted to a Participant, as described in Article 8, that is (a) credited with amounts equal to Shares or some other unit of measurement specified in the Award Agreement, (b) subject to restrictions and (c) payable in cash or Shares.

Restricted Unit means a Participant’s right to receive pursuant to the Plan one share of Common Stock at the end of a specified period of time, which right is subject to forfeiture in accordance with Section 8 of the Plan.

Restricted Unit means a phantom, or notional, unit granted under the Plan which is equivalent in value and in distribution rights to a Unit and which, upon vesting, entitles the Participant to receive a Unit or its Fair Market Value in cash, whichever is determined by the Committee.