Fractional Unit definition

Fractional Unit means a portion of, or less than the whole of, a Unit of Partnership Interest.

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Fractional Unit means a physical unit used for overnight accommodation as part of a Fractional Interest.

Fractional Unit means a Residential Unit for which multiple owners may each purchase a fractional share of ownership (also referred to as a timeshare unit by the California Department of Real Estate).

Examples of Fractional Unit in a sentence

The Exchange Agent shall promptly pay any Fractional Unit Proceeds in respect of Canceled Awards to the Surviving Entity for payment pursuant to Section 2.1(e).
Fractional Unit Shares or Warrants will be rounded down to the nearest whole Unit Share and Warrant without the payment of any compensation to the holder.
The Fractional Interest includes rights to use and occupy a Fractional Unit in accordance with the Governing Instruments (as defined in the Fractional Declaration), and is initially subject to the Club Membership Program known as The ▇▇▇▇-▇▇▇▇▇▇▇ Club Membership Program with a Usage Program which provides for a Club Allocation for the use of twenty-one (21) days per year in accordance with the Governing Instruments.
Prior to the mailing of the Consent Statement/Prospectus, ACMP shall appoint Computershare Trust Company, N.A. to act as exchange agent (the “Exchange Agent”) for the payment of the Merger Consideration and any Fractional Unit Payment.
To the extent permitted by applicable Law, none of ACMP, ACMP General Partner, WPZ, WPZ General Partner or the Exchange Agent shall be liable to any Person in respect of any Merger Consideration, distribution or Fractional Unit Payment properly delivered to a public official pursuant to any applicable abandoned property, escheat or similar Law.

More Definitions of Fractional Unit

Fractional Unit means a living unit governed by a recorded co-ownership agreement and located within the River View Vista Estates or Fairway Vista Estates at the Resort and within the Eagle Creek or Eagle Springs Neighborhoods at the Ridge.

Fractional Unit means one fifth, two fifths, three fifths or four fifths of a Unit.

Fractional Unit means less than one Unit of Partnership Interest.

Fractional Unit means that part of a Unit in respect of which there is contributed by or in respect of the Member for the Unit an amount which is less than the amount of the Unit Price at the time the Unit is issued;

Fractional Unit means a fraction of a whole unit in any class of units issued by the contractual fund;

Fractional Unit means the remainder of a whole unit that is obtained when calculating the number of affordable housing units based on the percent of affordable units required out of the total approved number of units. Payment of a fractional unit of in lieu fee shall be made to the East Providence Waterfront District Commission Affordable Housing Fund and is subject to the rules and regulations provided herein only when in-lieu fees are sought for all or a portion of the required onsite affordable housing in Section 19-485 of the City of East Providence Revised Ordinances.

Fractional Unit means a Unit in respect of which there is contributed by the applicant an amount which is less than the full Investment Value per Unit or the Asset Value per Unit (as the case may be) or a Unit which remains after part of a Unit has been redeemed.