Presold Unit definition

Presold Unit means a Housing Unit owned by the Borrower or any Guarantor that is subject to a bona fide written agreement between the Borrower or such Guarantor and a third Person purchaser for sale in the ordinary course of the Borrower’s or such Guarantor’s business of such Housing Unit and the related lot, accompanied by a xxxx xxxxxxx money deposit or down payment in an amount that is customary, and subject only to ordinary and customary contingencies to the purchaser’s obligation to buy the Housing Unit and related lot.
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Presold Unit means a Unit that is subject to a Purchase Contract.
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Presold Unit means a Housing Unit owned by the Borrower or any Guarantor that is subject to a bona fide written agreement between the Borrower or such Guarantor and a third Person purchaser for sale in the ordinary course of the Borrower’s or such Guarantor’s business of such Housing Unit and the related lot, accompanied by a cash earnest money deposit or down payment in an amount that is customary, and subject only to ordinary and customary contingencies to the purchaser’s obligation to buy the Housing Unit and related lot.
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Examples of Presold Unit in a sentence

  • No Presold Unit may be included in the Borrowing Base beyond the date that is twelve (12) Calendar Months after the date upon which such Unit was first classified as a "Presold Unit" for purposes of determining the Borrowing Base.

  • It encourages the Member States to consult widely, in particular among consumers, prior to defining public service obligations.

  • At the request of Administrative Agent, if such Unit is a Presold Unit, a copy of a Purchase Contract for such Unit.

  • Wollerman suggested changing the name to just The Chatter so there still would be some name recognition that this was for the Menasha Senior Center.

  • If a Presold Unit is reclassified as a Spec Unit (by reason of the termination of a Purchase Contract), such Unit shall be included in the Borrowing Base as a Spec Unit and, on reclassification, such Spec Unit will be subject to a Reclassification Adjustment.


More Definitions of Presold Unit

Presold Unit means each Unit that is subject to a Qualified Sales Contract that has not been canceled or terminated and with respect to which neither the applicable Qualified Unit Buyer nor Borrower is in default.
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Presold Unit means a Unit owned by any Loan Party that is subject to a Contract For Sale in the ordinary course of such Loan Party’s business of such Unit and the related lot.
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Presold Unit means a Housing Unit owned by Borrower or any Guarantor that is subject to a bona fide written agreement between Borrower or such Guarantor and a third Person purchaser for sale in the ordinary course of Borrower's or such Guarantor's business of such Housing Unit and the related lot, accompanied by a cash earnest money deposit or down payment in an amount that is cusxxxxxx, xxx subject only to ordinary and customary contingencies to the purchaser's obligation to buy the Housing Unit and related lot. "Previous Maturity Date" is defined in Section 2.21(c).
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Presold Unit means a Unit that is subject to (i) a Sales Contract and (ii) a prequalification letter or mortgage commitment from an institutional mortgage lender or, if there is no such letter or commitment, such other information as Bank may
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Presold Unit means a Housing Unit owned by the Borrower or any Guarantor that is subject to a bona fide written agreement between the Borrower or such Guarantor and a third Person purchaser for sale in the ordinary course of the Borrower’s or such Guarantor’s business of such
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Presold Unit means a Unit which shall be deemed sold only if a bona fide purchaser for value (a) has executed a firm, non-contingent purchase agreement (in form and substance acceptable to Lender), and (b) has made a non-refundable cash deposit of not less than ONE THOUSAND AND NO/1OOTHS DOLLARS ($1,000).
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Related to Presold Unit

  • Said Unit means the said Flat, the said Vehicle Parking Space, (if any), and the right of common use of the Common Portions and wherever the context so intends or permits, shall also include the Said Undivided Share.

  • Rooming unit means any room or group of rooms forming a single habitable unit used or intended to be used for living and sleeping, but not for cooking or eating purposes.

  • On-premise beer retailer means a beer retailer who is:

  • 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.

  • Dwelling unit means a single unit providing complete, independent living facilities for one or more persons, including permanent provisions for living, sleeping, eating, cooking and sanitation.

  • Mobile food unit means a vehicle-mounted food service establishment designed to be readily movable.

  • Unit Share means a Common Share comprising part of each Unit;

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • unit of Reference Property shall have the meaning specified in Section 14.07(a).

  • Lodging unit means a room or set of rooms located in a lodging house designed or intended to be used for sleeping and living accommodation, which:

  • Spending unit means the department, bureau, division, office, board, commission,

  • chemical tanker means a ship constructed or adapted and used for the carriage in bulk of any liquid product listed in chapter 17 of the International Bulk Chemical Code;

  • Automatic tabulating equipment means apparatus that automatically examines