Restricted Units definition

Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

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

Restricted Units means Units credited to an Eligible Person which are subject to Restrictions at the beginning of a Restricted Period pursuant to an Award made to such Eligible Person under Article 5, and any Dividend Equivalent Units that are credited to the Eligible Person with respect to such Units during such Restricted Period as provided in Article 5.

Examples of Restricted Units in a sentence

• No part of the Restricted Units shall be operated as transient housing in which the term of occupancy is less than thirty (30) days, nor shall the Developer convert or apply to convert the Project to residential condominium or cooperative ownership or to a community apartment project or sell residential condominium or cooperative conversion rights in the Project or the rights to convert the Project to residential condominium or cooperative ownership or as a community apartment project.

• All Tenants of the Restricted Units shall be Eligible Households who are at or below the Income Limit.

• For all Restricted Units, Tenants shall be charged no more Rent than allowed under Section 3.1(b).

• The Restricted Units shall be used only for residential purposes consistent with this Agreement and the Lease, and the Restricted Units shall be operated and maintained as rental residences for the Affordability Period.

• 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).

More Definitions of Restricted Units

Restricted Units means the dwelling units in the Project identified on Exhibit “B” attached hereto and incorporated herein required to be rented to, or held available for occupancy by Qualified Tenants pursuant to the terms, covenants and conditions of this Agreement, including, but not limited to, the rental restrictions and other matters set forth in said Exhibit "B" and the other Loan Documents.

Restricted Units means Units granted or sold pursuant to Section 7 as to which neither the ownership restrictions nor the restrictions on transfer have expired.

Restricted Units means the restricted units under the LTIP.

Restricted Units means Units awarded to a Grantee pursuant to Section 10.

Restricted 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 date of close of Initial Period of Offer. 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 Restricted Units, during the first two years of their issue, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

Restricted Units means units awarded pursuant to Section 6.2(f) of this Plan.

Restricted Units has the meaning set forth in Section 4.3(a).