80% Units definition
Examples of 80% Units in a sentence
For example, if an ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Replacement Project has eighty (80) Units, including twenty (20) Agency Affordable Units and sixty (60) ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Replacement Units, then the Agency shall be responsible for twenty five percent (25%) (20/80 = 25%) of the Cost Overruns and Developer shall be responsible for seventy-five percent (75%) (60/80 = 75%) of the Cost Overruns for such ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Replacement Project.
This subscription is submitted to you in accordance with and subject to the terms and conditions described in this Subscription Agreement and the Subscription Booklet relating to the offering (the “Offering”) by the Company of a minimum of 80 Units ($8,800,000 (including the OID)) (“Minimum Amount”), and up to a maximum of 100 Units ($11,000,000 (including the OID)) (“Maximum Amount”).
The 80% Units have been duly authorized and are validly issued, fully paid and non-assessable, and are subject to no options to purchase, or any similar rights or to any restrictions on transferability, except for such options and restrictions on transferability contained in the operating agreement for the JVCo. Each certificate or document of title constituting the 80% Units is genuine in all respects and represents what it purports to be.
Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, Eighty (80) Units (the “Seller Units”) on the terms and conditions set forth herein.
The Placement Agent shall receive (i) ten percent (10%) of the gross proceeds of the Offering, for a maximum amount of sales commissions of $200,000 based on the sale of 80 Units, and (ii) a warrant to purchase a number of shares equal to ten percent (10%) of the aggregate number of shares underlying all the Units sold, at an exercise price equal to the exercise price of the Warrant.
The 80% Units and the 60% Units will be hereinafter collectively referred to as the “Affordable Housing Units”.
The 80% Units shall be included in the Subsidized Housing Inventory as that term is described in 760 CMR 56.03(2) in accordance with rules and regulations issued by the Massachusetts Executive Office of Housing and Livable Communities, as amended from time to time.
Except for encumbrances as defined and itemized in Section 3.8 of the Seller Disclosure Schedule, Original Member has good and valid title to the 80% Units, in each case free and clear of all claim, charge, lease, covenant, easement, encumbrance, security interest, lien, option, pledge, rights of others, or restriction (whether on voting, sale, transfer, disposition or otherwise), whether imposed by agreement, understanding, law, equity or otherwise, of any kind or character (collectively, “Liens”).
If the Offering is over-subscribed, the Company may elect in its sole discretion, to accept subscriptions for an additional 80 Units, for a total Offering of 200 Units.
Cobblestone Apartments Partners LLC 201, 203, 207, and 2▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ Muscatine Cobblestone Apartments 80 Units 5.2700% 5.25735% 5.2700% 5.25735% 5,920,000 5,901,354 120 117 8/6/2025 360 357 NAP NAP NAP NAP NAP NAP 32,763.83 NAP 0.00500% 56 Column Financial, Inc.