Sold Homes definition

Sold Homes means Developed Lots having fully or partially constructed Units thereon (including, at a minimum, a completed foundation for any such Unit) that are subject to bona fide contracts for the sale of such Units to a third party.
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Sold Homes means all Units (including Model Homes) on which a building permit has been issued and construction has begun or has been completed, for which the Borrower or any Restricted Subsidiary has entered into a written Contract for Sale, the value of which is determined in conformity with GAAP.
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Sold Homes means all Entitled Land (other than Unimproved Land) on which a Unit has been, is being or will be constructed pursuant to a Contract for Sale and for which such Contract for Sale is in effect, the value of which is determined in conformity with GAAP.
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Examples of Sold Homes in a sentence

  • Sold Homes shall mean the Dollar amount of the capitalized construction costs of any Dwelling Unit upon which a third party purchaser has paid a cash deposit pursuant to an enforceable agreement of sale.

  • See generally Lieutenant Colonel Noël Woodward, Important News for Servicemembers Who Sold Homes after 6 May 1997 and Paid Income Tax on Gains from Those Sales, ARMY LAW., Oct.

  • The construction of no more than fifteen (15) Acceptable Pre- Sold Homes may be financed under the Credit Facility at any one time.

  • For the avoidance of doubt, except as otherwise expressly set forth herein, none of the provisions contained in this Section 9.7 shall operate as an assumption by the Purchaser of any liabilities or obligations of the Seller for any Sold Homes.

  • This number is found by taking 365/95 (Time Frame/Number of Sold Homes) •Absorption Rate = 157.53 Days (5.25 Months).

  • Upon any three (3) month extension of the initial twelve-month period, Borrower shall not be entitled to receive aggregate Advances under the Master Line for more Spec Homes and Sold Homes than eighty percent (80%) of the aggregate Allocations for all Homes financed under the Master Line.

  • Find Recently Sold Homes for faucet in Stratford CT Tour Recently Sold Homes make offers with frequent help improve local Redfin real estate agents.

  • Spec Homes and Sold Homes must be removed from the Borrowing Base within eighteen (18) months of such initial inclusion date.

  • The Purchaser shall be paid for the Warranty Costs relating to Sold Homes in accordance with the procedures set forth in Section 9.7.

  • Time Frame =365 days (Should choose at least 1 year) • Number of Sold Homes =95 (for the most recent 12 months) • Number of Active Homes =77 (Remember to take of the 12 month qualifier you want all listed homes not just those listed 12 months) • Remove and “Lot/Land” listings to get a true Active Homes for sale number.


More Definitions of Sold Homes

Sold Homes. Fixed Charge Coverage Ratio shall mean the ratio, as of any date of determination, of (x) Adjusted Operating Income for the prior twelve (12) months to (y) four (4) multiplied by Fixed Charges for the most-recently ended fiscal quarter. Fixed Charges shall mean the sum of (i) interest cost incurred on all Senior Homebuilding Indebtedness over the past fiscal quarter; (ii) interest cost incurred on the Subordinated Debt over the past fiscal quarter; (iii) 50% of the interest cost incurred on all Purchase Money Mortgages over the past fiscal quarter; (iv) Letter of Credit Fees accrued over the past fiscal quarter; and (v) the interest component of capitalized leases over the past fiscal quarter. GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3 (Accounting Principles), and applied on a consistent basis both as to classification of items and amounts. Governmental Acts shall have the meaning assigned to that term in Section 2.9.8 (Indemnity). Guarantor shall mean each of the parties to the Guaranty Agreement (and designated as a "Guarantor" on Schedule 1.1(C)) and each other Person which joins the Guaranty Agreement as a Guarantor after the date hereof pursuant to Section 10.18 (Joinder of Guarantors). As of the Closing Date, KHL shall not be a Guarantor and Hovnanian shall be a Guarantor and all Restricted Subsidiaries other than the Borrower and KHL shall be Guarantors. Guarantor Joinder shall mean a joinder by a Person as a Guarantor under the Guaranty Agreement in the form of Exhibit 1.1(G). Guaranty of any Person shall mean any obligation of such Person guaranteeing or in effect guaranteeing any Indebtedness of any other Person in any manner, whether directly or indirectly. Guaranty Agreement shall mean the Guaranty and Suretyship Agreement executed and delivered by each of the Guarantors to the Agent for the benefit of the Banks. Historical Statements shall have the meaning assigned to that term in Section 5.1.8((i)) (Historical Statements). Homebuilding Indebtedness shall mean the sum of (x) Senior Homebuilding Indebtedness and (y)
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Sold Homes as to the Borrower and any of its Subsidiaries which is a Loan Party, at a particular date, all Housing Units that are subject to a bona fide written agreement for sale and purchase, between the Borrower or any such Subsidiary, as seller, and a Person, other than an Affiliate of the Borrower or any such Subsidiary, as buyer, entered into in the ordinary course of business, under which a cash xxxxxxx xxxey deposit or down payment in an amount customary for the locale has been paid, and that is subject only to customary contingencies to the closing of the agreement and the buyer's purchase obligation.
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Sold Homes means, as of any date, Homes and Lots thereunder, if applicable, under construction on Entitled Land for which building permits have been issued and for which Qualified Contracts have been entered into on or prior to such date, and are still in effect on such date, but with respect to which a closing under such Qualified Contract has not occurred. Sold Homes shall not include Models or Homes which are intended for use as Models as designated by Borrower to Lender.
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Sold Homes means a home or Unit that is subject to a written contract for the sale of such home or Unit, made and entered into by and between a Borrower, or its duly authorized agent, and a bona fide third party purchaser, on a form approved by the Lenders, or their counsel, and (1) the consideration for such sale consists solely of cash, (2) the purchaser has deposited earnest money thereunder in an amount not less xxxx (a) five percent (5%) of such sale price with respect to conventionally financed homes or Units or (b) the minimum required percentage of the sale price under applicable programs of the Federal Housing Administration and/or the Department of Veterans Affairs, (3) the purchaser thereunder has been pre- qualified by such Borrower, or its duly authorized agent, for a mortgage loan on the basis of generally accepted ratios of income to anticipated debt service on the proposed mortgage loan for such home or Unit, and (4) such contract contains no contingencies other than those pertaining to the condition of title and similar conditions to closing customarily included in contracts for new construction home sales or condominium conversion sales, as the case may be.
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Sold Homes means Developed Lots having fully or partially constructed Units thereon (including, at a minimum, a completed foundation for any such Unit) that are subject to bona fide contracts for the sale of such Units to a third party. LA\4060806.14
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Related to Sold Homes

  • Abbeyfield Home means an establishment run by the Abbeyfield Society including all bodies corporate or unincorporated which are affiliated to that society;

  • Family day home means a child day program offered in the residence of the provider or the home of any of the children in care for one through 12 children under the age of 13, exclusive of the provider's own children and any children who reside in the home, when at least one child receives care for compensation. The provider of a licensed or registered family day home shall disclose to the parents or guardians of children in their care the percentage of time per week that persons other than the provider will care for the children. Family day homes serving five through 12 children, exclusive of the provider's own children and any children who reside in the home, shall be licensed. However, no family day home shall care for more than four children under the age of two, including the provider's own children and any children who reside in the home, unless the family day home is licensed or voluntarily registered. However, a family day home where the children in care are all related to the provider by blood or marriage shall not be required to be licensed.

  • Multifamily dwelling means a structure that contains more than one separate residential dwelling unit, which is used or occupied, or intended to be used or occupied, in whole or in part, as the home or residence of one or more persons.

  • Timber means forest trees, standing or down, of a commercial species, including Christmas trees. However, "timber" does not include Christmas trees that are cultivated by agricultural methods, as that term is defined in RCW 84.33.035.

  • Timberlands means all the timberlands from time to time owned by the Loan Parties.

  • Residential Lot means a lot, the use of which is limited by law, covenant,

  • Family home or "family residence" means the location or portion of a location where the applicant and his or her family reside, and may include basements and attics. It does not include other structures that are separate from the home but are considered part of the overall premises, such as adjacent apartments, unattached basements in multi-unit buildings, unattached garages, and other unattached buildings.

  • Manufactured home park means any tract of land upon which three or more manufactured or mobile homes used for habitation are parked, either free of charge or for revenue purposes, and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the park. "Manufactured home park" does not include any of the following:

  • Manufactured home means a structure, transportable in one or more sections, which is built on a permanent chassis and is designed for use with or without a permanent foundation when attached to the required utilities. The term "manufactured home" does not include a "recreational vehicle".

  • Multi-family dwelling means a structure that contains more than one separate dwelling unit, which is used, or occupied, or intended to be used or occupied, in whole, or in part as the home or residence of one or more persons.

  • Single-family dwelling unit means a structure that is usually occupied by just one household or family and for the purposes of this Policy is expected to generate an average of 250 gallons per day of wastewater.

  • Timberland means land, other than land owned by the federal government and land designated by the board as experimental forest land, which is available for, and capable of, growing a crop of trees of a commercial species used to produce lumber and other forest products, including Christmas trees. Commercial species shall be determined by the board on a district basis.

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Family day care home means a unit registered under Title 5, Subtitle 5 of the Family Law Article.

  • residential land means land used or capable of being used for residential purposes (but does not include land on which there is no residential dwelling).

  • Residential care home or “RCH” means a residential care home as defined and licensed under the Residential Care Homes (Elderly Persons) Ordinance (Cap. 459), or as defined and issued with a licence or certificate of exemption under the Residential Care Homes (Persons with Disabilities) Ordinance (Cap. 613), or the boarding section of a special school subvented under the Education Bureau, or the residential facilities of the Skills Centre (Tuen Mun) of Vocational Training Council, or a nursing home as referred to in the Hospitals, Nursing Homes and Maternity Homes Registration Ordinance (Cap. 165) which provides residential services for persons aged 60 or above in Hong Kong.

  • Adult family home means a home licensed under chapter 70.128

  • Residential Dwelling Unit means any portion of a building that contains living facilities, including a room or rooms in a facility that have shared cooking, bathing, toilet, or laundry facilities such as dormitories, shelters, assisted living facilities, and boarding homes. "Residential dwelling unit" also means facilities that include provisions for sleeping, cooking, bathing, and toilet facilities for one or more persons and are used for extended stays, such as time-shares and extended-stay motels. "Residential dwelling unit" does not mean a guest room in a motel or hotel.

  • Cemetery means 1 or a combination of more than 1 of the following:

  • Housing Unit means a detached or attached (including townhouse condominium or condominium) single-family house (but excluding mobile homes) owned by the Restricted Parent or a Subsidiary of the Restricted Parent (i) which is completed or for which there has been a start of construction and (ii) which has been or is being constructed on any real estate which immediately prior to the start of construction constituted a Lot.

  • Investment Related Property means: (i) all “investment property” (as such term is defined in Article 9 of the UCC) and (ii) all of the following (regardless of whether classified as investment property under the UCC): all Pledged Equity Interests, Pledged Debt, the Investment Accounts and certificates of deposit.

  • Manufactured Home Park or Subdivision means a parcel (or contiguous parcels) of land divided into two or more manufactured home lots for rent or sale.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Multifamily Property means any real property on which multifamily residential-use development has been constructed or is now or hereafter proposed to be constructed (for example, and not by way of limitation, a property of the type managed by the Company).

  • College property means any property owned, leased, or controlled by a member college of the Virginia Community College System and the administrative office of the Virginia Community College System.

  • Residential property means improved property that:-