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Unrestricted Units definition

Unrestricted Units. Class A Units (i) contemplated in the Plan to be issued upon consummation of the Plan to JMB Partner, (ii) issued upon conversion of any Class B Units transferred to JMB Partner pursuant to Section 2 of the JMB Agreement, (iii) contemplated in the Plan to be issued upon consummation of the Plan to a Limited Partner that is not a Founding Limited Partner on the date hereof, (iv) issued upon exercise of the Conversion Right (other than in respect of any Convertible Note distributed to any Person that is a Founding Limited Partner on the date hereof, or any assignee thereof, pursuant to Section 20.5 of the Plan) or (v) except as otherwise provided in clause (ii) above, issued upon conversion of Class B Units held on the date hereof by any Person other than Excluded Class B Partners, all of which Class A Units shall retain their character as Unrestricted Units notwithstanding any Transfer thereof; provided, however, that Unrestricted Units shall not include any Class A Units included at any time in the Aggregate Disallowed Amount (as defined in the Plan) relating to the Subclass 7.
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Unrestricted Units means the 55 57 residential Units approved for construction on the
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Unrestricted Units means Units free of any restrictions.
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Examples of Unrestricted Units in a sentence

  • All Affordable Units must be constructed and occupied not later than concurrently with construction and occupancy of Unrestricted Units.

  • Affordable Units must be comparable in initial construction quality and exterior design to the Unrestricted Units.

  • All Assisted Units must be constructed and occupied not later than concurrently with construction and occupancy of Unrestricted Units and, for Development Projects that are constructed in phases, Assisted Units must be constructed and occupied during the initial lease-up period, insofar as is practicable, in proportion to the number of Dwelling Units in each residential phase of the Development Project.

  • The Assisted Units must have access to all on-site amenities available to Unrestricted Units.

  • The Restricted Units which have become unrestricted are herein referred to as the “Unrestricted Units.” If the Unrestricted Units include a fraction of a unit, such fractional unit shall be rounded up or down to the next nearest whole number.

  • The Recipient understands that once a certificate has been delivered to the Recipient in respect of the Unrestricted Units, the Recipient will be free to sell the Shares evidenced by such certificate, subject to applicable requirements of federal and state securities laws.

  • The total number of bedrooms in the Assisted Units shall, insofar as practicable and as approved by DHCD, be in the same proportion to the total number of bedrooms in the Unrestricted Units.

  • In compliance with a corresponding marketing plan and Affordable Housing Restriction approved by DHCD, Assisted Units must be equitably integrated and dispersed throughout any phase of a Development Project containing Dwelling Units such that the Assisted Units are, as practicable, spread proportionately across the overall unit mix and comparable in initial construction quality and exterior design to the Unrestricted Units.

  • All Affordable Units must be constructed and occupied not later than concurrently with construction and occupancy of Unrestricted Units and, for Development Projects that are constructed in phases, Affordable Units must be constructed and occupied in proportion to the number of units in each phase of the Development Project.

  • Affordable Units must be dispersed throughout a Development Project and be comparable in initial construction quality and exterior design to the Unrestricted Units.


More Definitions of Unrestricted Units

Unrestricted Units. Class A Units issued (i) on the date hereof to a Limited Partner (including, without limi- tation, JMB Partner) that is not a Founding Limited Part- ner, (ii) upon exercise of the Conversion Right or (iii) upon conversion of Class B Units, all of which Class A Units shall retain their character as Unrestricted Units notwithstanding any Transfer thereof.
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Unrestricted Units means the two (2) residential units (3-bedroom) to be used by the resident manager and on-site maintenance person, respectively, of the Project that are not restricted to Low Income, Very Low Income or Extremely Low Income tenants.
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Related to Unrestricted Units

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

  • Unrestricted Stock means an Award pursuant to Section 11 hereof.

  • Unrestricted Stock Award means an Award of shares of Stock free of any restrictions.

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

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

  • Unrestricted Securities means one or more Securities that do not and are not required to bear the Private Placement Legend in the form set forth in Exhibit A hereto, including, without limitation, the Exchange Securities and any Securities registered under the Securities Act pursuant to and in accordance with the Registration Rights Agreement.

  • Unrestricted Global Note means a Global Note that does not bear and is not required to bear the Private Placement Legend.

  • Age-restricted unit means a housing unit designed to meet the needs of, and exclusively for, the residents of an age-restricted segment of the population such that: 1) all the residents of the development wherein the unit is situated are 62 years of age or older; or 2) at least 80 percent of the units are occupied by one person who is 55 years of age or older; or 3) the development has been designated by the Secretary of the U.S. Department of Housing and Urban Development as “housing for older persons” as defined in Section 807(b)(2) of the Fair Housing Act, 42 U.S.C. § 3607.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Unrestricted Person means (a) each Indemnitee, (b) each Partner, (c) each Person who is or was a member, partner, director, officer, employee or agent of any Group Member, a General Partner or any Departing General Partner or any Affiliate of any Group Member, a General Partner or any Departing General Partner and (d) any Person the General Partner designates as an “Unrestricted Person” for purposes of this Agreement.

  • 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.

  • Unrestricted Global Notes means Global Notes that are not required to bear, or are not subject to, the Restricted Notes Legend.

  • Performance Units means an Award which may be earned in whole or in part upon 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.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • 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.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Article 7.

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

  • 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.

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Unrestricted Global Security means a Global Security that is not a Restricted Security.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • 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.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Deferred Stock means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article 8.

Most Referenced Clauses

Most Referenced Definitions