Speculative Housing Unit definition

Speculative Housing Unit means any Housing Unit owned by the Borrower or a Subsidiary that is not a Housing Unit Under Contract.
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Speculative Housing Unit means Eligible Land that otherwise qualifies as a Finished Lot, together with the Housing Unit located or to be located thereon, with respect to which construction has commenced beyond the foundation and with respect to which no Housing Unit Contract exists.
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Speculative Housing Unit means any Housing Unit owned by the Borrower or a Subsidiary that is not a Housing Unit under Contract and shall include, without limitation, all Model Houses.
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Examples of Speculative Housing Unit in a sentence

  • Speculative Housing Unit – Board to consider a purchase agreement for a modular housing unit and speculative housing project.


More Definitions of Speculative Housing Unit

Speculative Housing Unit means any Housing Unit owned by the Borrower or a Subsidiary that is not a Housing Unit Under Contract. "STIC" means Security Title Insurance Company, Inc., a Vermont corporation and Wholly Owned Subsidiary of the Borrower.
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Speculative Housing Unit or, if applicable under clause (iv) above, a "Presold Housing Unit" shall be excluded from the Borrowing Base, plus
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Speculative Housing Unit for more than twenty-four (24) months, as determined on a cumulative basis, (vi) any Finished Lot shall be excluded from the calculation of Borrowing Base Availability if such Finished Lot has been included in the calculation of Borrowing Base Availability as a “Finished Lot” for more than twenty-four (24) months, as determined on a cumulative basis, (vii) to the extent the portion of Borrowing Base Availability attributable to Presold Housing Units, the purchaser of which is under contract to purchase more than three Housing Units, exceeds 10% of Borrowing Base Availability, then such excess shall be disregarded in the calculation of Borrowing Base Availability, (viii) any DFH JV BFR Unit shall be excluded from the calculation of Borrowing Base Availability if such DFH JV BFR Unit has been included in the calculation of Borrowing Base Availability as a “DFH JV BFR Unit” for more than twenty-four (24) months, and (ix) to the extent the portion of Borrowing Base Availability attributable to all DFH JV BFR Units would exceed 25% of the Borrowing Base Availability that is attributable to Housing Units (excluding all DFH JV BFR Units), such excess shall be disregarded in the calculation of the Borrowing Base Availability; provided further that prior to inclusion to the Borrowing Base Availability of any DFH JV BFR Units that are being sold to a new DFH BFR JV (and that have not previously been reviewed by Lenders), Administrative Agent shall have the right in its sole and absolute discretion to approve DFH JV BFR Units for consideration to be added to the Borrowing Base Availability. Thereafter, Administrative Agent shall provide to Lenders the information related to the new DFH BFR JV that was provided to it by Borrower. If Required Lenders do not object within ten (10) Business Days of being provided such information related to the new DFH BFR JV (or a material change to an existing DFH BFR JV), the DFH JV BFR Units may be added to the Borrowing Base Availability. “Borrowing Base Certificate” means a certificate substantially in the form of Exhibit D executed by a Responsible Officer of Borrower setting forth in reasonable detail all assets used in the calculation of Borrowing Base Availability and component breakdowns on a per unit basis to determine Borrowing Base Availability. “Borrowing Base Debt” means all Indebtedness of the Consolidated Group, including the Obligations, but excluding Non-Recourse Indebtedness. “Business Day” means any day other than a...
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Speculative Housing Unit means a Housing Unit that is not a Presold Housing Unit or Model Housing Unit. “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of Borrower. “Successor Rate” has the meaning specified in Section 3.03(b). “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.
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Related to Speculative Housing Unit

  • Housing Unit is either a Presold Unit, a Spec Unit or a Model Unit.

  • 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.

  • Target housing means any housing constructed prior to 1978, except housing for the elderly or persons with disabilities (unless any one or more children age 6 years or under resides or is expected to reside in such housing for the elderly or persons with disabilities) or any 0-bedroom dwelling.

  • Multi-family housing means a building or structure that is designed to house two (2) or more different households in separate housing Units which have full kitchen facilities including oven/range, refrigerator, kitchen sink with hot and cold water supply and food storage facilities and at least one (1) full bathroom facility(s), one (1) full bedroom and one (1) living area (including a combination thereof such as studio arrangements).

  • Generating Unit means one or more generating equipment combinations typically consisting of prime mover(s), electric generator(s), electric transformer(s), steam generator(s) and air emission control devices.

  • Urban transit hub means an urban transit hub, as defined in

  • Moderate income housing means housing occupied or reserved for occupancy by households with a gross household income equal to or less than 80% of the median gross income for households of the same size in the county in which the city is located.

  • 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.

  • Electric generating unit means an individual electric generator and its associated plant and apparatus whose electrical output is capable of being separately identified and metered. Emergency Condition shall mean a condition or situation: (1) that in the judgment of the Party making the claim is imminently likely to endanger life or property; or (2) that, in the case of the CAISO, is imminently likely (as determined in a non-discriminatory manner) to cause a material adverse effect on the security of, or damage to, the CAISO Controlled Grid or the electric systems of others to which the CAISO Controlled Grid is directly connected; (3) that, in the case of the Participating TO, is imminently likely (as determined in a non-discriminatory manner) to cause a material adverse effect on the security of, or damage to, the Participating TO’s Transmission System, Participating TO’s Interconnection Facilities, Distribution System, or the electric systems of others to which the Participating TO’s electric system is directly connected; or

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Permitted Transactions has the meaning set forth in Section 13(B).