Employee Unit definition

Employee Unit means a Dwelling Unit designated as an employee unit in accordance with Part II herein to be used, occupied and Disposed of in accordance with this Agreement;

Employee Unit means any Bonus Pool Unit that is held by an Employee Member or a permitted transferee thereof (other than Managing Member or any other subsidiary of the Company).

Employee Unit means a Unit set aside by Project management as a Residential Rental Unit for a manager, or a maintenance person, and/or a security officer (see Arizona Department of Housing LIHTC Compliance Manual, Section 3.2.1.). ADOH will consider Residential Rental Units as Low-Income Units. Industry standards indicate that one manager’s Unit and one maintenance person’s Unit are needed per one hundred Units. One security officer’s Unit per Project is allowed if management can show that the Unit is reasonably required. Project management, in its discretion, may designate such Units for employees or return them to service as Low-Income Units as circumstances dictate. In accordance with IRS Revenue Ruling 92-61, while these Units are Employee Units they will be included in the eligible basis of the building but will be excluded from both the numerator and the denominator of the applicable fraction. In mixed-income properties, ADOH will assume that any Employee Units are taken from the low-income rather than the market-rate side.

Examples of Employee Unit in a sentence

• If the Owner of an Employee Unit cannot comply with the occupancy requirements of this Agreement in relation to the Employee Unit for reasons of hardship, the Owner may request in writing that the Municipality alter the Owner’s obligations under this Agreement with respect to the Employee Unit, but no such request may be made later than 30 days after the Municipality has delivered to the Owner a notice of breach of this Agreement.

• The Municipality may only exercise the Option in the event the Owner has breached any of the Owner’s obligations contained in the Housing Agreement or this Agreement, or upon the Owner advising the Municipality in writing of its intention to Dispose of the Employee Unit.

• The Owner hereby grants to the Municipality the sole and exclusive irrevocable option to purchase the Employee Unit on the terms of this Agreement.

• The Owner of the Employee Unit shall provide notice to the Tenant ending a tenancy under a Tenancy Agreement for the Employee Unit sufficiently in advance of the date specified in the Tenancy Agreement for the end of the tenancy so as to enable the Owner to end the tenancy on that date in accordance with the requirements of the Residential Tenancy Act (British Columbia) so as to enable the Owner to occupy the Employee Unit when required by this Agreement.

• The Employee Unit will be at the Owner’s risk until the Completion Date and will thereafter be at the risk of the Municipality.

More Definitions of Employee Unit

Employee Unit means a Dwelling Unit that is used and occupied as the permanent residence of at least one Employee or Retiree;

Employee Unit means an appropriate group of employees for the

Employee Unit means a Unit set aside by project management as a Residential Rental Unit for a manager, or a maintenance person, and/or a security officer (see Arizona Department of Housing LIHTC Compliance Manual, Section 3.2.1.). ADOH considers Residential Rental Units as Low‐Income Units. Industry standards indicate that one manager’s Unit and one maintenance person’s Unit are needed per one hundred units. One security officer’s Unit per project is allowed if management can show that the Unit is reasonably required. Project management, in its discretion, may designate such units for employees or return them to service as Low‐Income Units as circumstances dictate. In accordance with IRS Revenue Ruling 92‐61, while these units are employee units they shall be included in the eligible basis of the building but shall be excluded from both the numerator and the denominator of the applicable fraction. In mixed‐income properties, ADOH assumes that any employee units are taken from the low‐income rather than the market‐rate side.

Employee Unit means the residential dwelling unit located on or comprising the Land, except that if the Land as described on the date the Housing Agreement was first registered in the LTO has not been subdivided, then “Employee Unit” means that parcel of land, including any improvements;

Employee Unit means a Dwelling Unit used and occupied

Employee Unit means the residential dwelling unit located on or comprising the Land, whether that dwelling unit is an entire building or part of a building, and whether or not it is a strata lot.

Employee Unit means those employees in the Maintenance Department and a group of employees designated by family of schools, as determined by the Halifax Regional School Board.