Completed Unit definition

Completed Unit a Unit as to which either (or both) of the following has occurred: (a) a notice of completion has been filed or recorded in the appropriate real estate records; or (b) all necessary construction has been completed in order to obtain a certificate of occupancy (whether or not such certificate of occupancy has actually been obtained), or if a notice of completion or certificate of occupancy is not required to be provided to, or issued by, the applicable jurisdiction, respectively, the Unit is otherwise ready for occupancy in accordance with applicable law.

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Completed Unit means a Unit at a Resort which has been fully constructed and furnished, has received a valid permanent certificate of occupancy or its equivalent, is ready for occupancy and is subject to a time share declaration.

Completed Unit means a Unit at a Resort which has been fully constructed and furnished, has received a valid permanent certificate of occupancy, is ready for occupancy and is subject to a time share declaration.

Examples of Completed Unit in a sentence

• All costs arising from the construction of any improvements and the purchase of any equipment, inventory, or furnishings located in or on the Resorts and Additional Resorts relating to the Units relating to the Intervals and relating to Eligible Completed Unit Receivables have been paid or will be paid when due.

• Electric, gas, sewer, water facilities and other necessary utilities are lawfully available in sufficient capacity to service the Units relating to the Intervals in the Resorts and Additional Resorts relating to Eligible Completed Unit Receivables and any easements necessary to the furnishing of such utility service have been obtained and duly recorded.

• Additionally, in the event a Pledged Receivable is no longer an Eligible Completed Unit Receivable or an Eligible Uncompleted Unit Receivable and the Borrowers take the action described in Section 1.7(b), the Lender will release its lien on the Pledged Receivable.

• Notwithstanding anything contained in this Amendment to the contrary, the amendments contained in Sections I (e)(iii) and (v) hereof shall only be applicable to Receivables which are proposed to be the subject of an Advance made on and after the date of this Amendment and shall not be applicable to Receivables which constituted "Eligible Completed Unit Receivables" or "Eligible Uncompleted Unit Receivables" before giving effect to this Amendment and for which Lender has previously made an Advance.

• Buydown Amounts will be determined based on the last Completed Performance Test or Completed Unit Equivalent Availability Test, as applicable.

More Definitions of Completed Unit

Completed Unit means a Unit at a Resort which has been fully constructed and furnished, has received a valid permanent certificate of occupancy (if required under applicable laws, rules or regulations), is ready for occupancy and is subject to a time share declaration.

Completed Unit means a Unit as to which all necessary construction has been completed in order to obtain a temporary or final certificate of occupancy (whether or not such certificate of occupancy has actually been obtained), or if a certificate of occupancy is not required to be provided to, or issued by, the applicable jurisdiction, respectively, the Unit is otherwise ready for occupancy in accordance with Applicable Law.

Completed Unit means a Unit as to which all necessary Governmental Approvals have been obtained, including a certificate of occupancy.

Completed Unit means a Unit that is properly installed, operating and, when applicable, commissioned in accordance with the manufacturer’s requirements and specifications for normal operations and, as applicable, has met specifications and requirements set forth in the Implementation Manual, or its successor, and the PTR system.

Completed Unit means a completely finished Unit, including, but not limited to, the installation of all appliances and utilities, rendering it for occupancy by Owner other than the Declarant.

Completed Unit means a Unit which consist of a completed residential structure for which a Certificate of Occupancy has been issued by the appropriate local governmental housing inspection or certification agency. (Deleted by amendment as of date of record)

Completed Unit means a Unit which consist of a completed residential structure for which a Certificate of Occupancy has been issued by the appropriate local governmental housing inspection or certification agency. (Revised per Amendment 1, effective July 1, 2014)