Non-Obligated Unit definition

Non-Obligated Unit means as defined in Section 3(C)(8)(a). “Obligated Unit” means as defined in Section 3(C)(8).
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Examples of Non-Obligated Unit in a sentence

  • Conversion of a lot from an Obligated Unit to a Non-Obligated Unit and/or from a Non-Obligated Unit to an Obligated Unit will not affect the continuing lien of the Town on the lot pursuant to parts (g) and (h) below, and such lien will survive any such conversion.

  • If a lot or unit is converted during a Payment Year from being an exclusively Obligated Unit to being fully or partially used as a Non-Obligated Unit, any taxes paid to the Town as a result of the use of such lot or unit as a Non-Obligated Unit during such Payment Year shall be credited toward payment of the next In Lieu Payment otherwise owing by the Owner of such lot or unit.

  • Each Owner of a lot or unit potentially obligated to make an In Lieu Payments shall certify to the Owners Association upon acquisition of the lot or unit whether the lot or unit will be used fully or partially as an Obligated Unit or exclusively as a Non-Obligated Unit.

  • Any lot contemplated to be used only part time as a Non-Obligated Unit as of commencement of a Payment Year shall pay a full annual In Lieu Payment on the Payment Date and then be entitled to a credit against the next In Lieu Payment owing on such lot, if any, based on taxes paid to the Town as a result of the use of the lot as a Non-Obligated Unit during such Payment Year.

  • Any lot or unit contemplated to be used only part time as a Non- Obligated Unit as of commencement of a Payment Year shall pay a full annual In Lieu Payment on the Payment Date and then be entitled to a credit against the next In Lieu Payment owing on such lot or unit, if any, based on taxes paid to the Town as a result of the use of the lot or unit as a Non-Obligated Unit during such Payment Year.

  • Each Owner of a lot potentially obligated to make an In Lieu Payments shall certify to the Owners Association upon acquisition of the lot whether the lot will be used fully or partially as an Obligated Unit or exclusively as a Non-Obligated Unit.

  • If a lot is converted during a Payment Year from being an exclusively Obligated Unit to being fully or partially used as a Non-Obligated Unit, any taxes paid to the Town as a result of the use of such lot as a Non-Obligated Unit during such Payment Year shall be credited toward payment of the next In Lieu Payment otherwise owing by the Owner of such lot.

  • Conversion of a lot or unit from an Obligated Unit to a Non-Obligated Unit and/or from a Non-Obligated Unit to an Obligated Unit will not affect the continuing lien of the Town on the lot or unit pursuant to parts (g) and (h) below, and such lien will survive any such conversion.