Qualified Units definition

Qualified Units means Units that are occupied by Project Qualified Residents, or after initial occupancy by a Project Qualified Resident, set aside for Project Qualified Residents.
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Qualified Units means only those Units for which the particular state in which the Units are sold does not (i) require that more than 12,000 Units be sold before subscribers from such state may be admitted as Limited Partners or (ii) prohibit the payment of commissions with respect to sales of such Units, provided, however, when the aggregate number of Units sold exceeds the requirements of the particular state with respect to (i) and/or (ii) above, such Units shall become Qualified Units.
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Qualified Units means the number of housing opportunity units located in the property with the limitation that no more than 2 units or 20% of the total units contained within the property, whichever is greater, may be considered qualified units. Further, no unit may be considered qualified unless the property in which it is contained is in substantial compliance with local building codes, and, moreover, no unit may be considered qualified unless it meets the United States Department of Housing and Urban Development's housing quality standards as of the most recent housing authority inspection.
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Examples of Qualified Units in a sentence

  • OHCS may limit or disapprove of other Project charges, including Rents for non- Qualified Units as it determines are necessary or appropriate to ensure appropriate access to and use of Qualified Units.

  • The Qualified Units will be of a quality comparable to those Units that are rented by other Residents.

  • OHCS may rely upon statements, certificates, and other records of Owner and its agents and assigns, as well as of Residents of Qualified Units, including as to accuracy, genuine nature, and proper execution of such statements, certificates, and other records.

  • OHCS also may limit other Unit Rents and Project fees as it determines, in its sole discretion, is necessary or appropriate to ensure the affordability of or access to Qualified Units.

  • Owner will use its reasonable efforts to advertise and market the Project Dwelling Units, particularly the Qualified Units, within the County and, if applicable, City in which the Project is located.

  • Dwelling Units that are Qualified Units at the beginning of their occupancy will continue to qualify as Qualified Units until the earlier of (i) the date the character of the Unit is re-determined pursuant to the next sentence hereof or (ii) the circumstances described in subparagraph (c)(iii) hereof.

  • The Rent Mechanism is the schedule of maximum rents to be charged to Qualified Households occupying Qualified Units that establishes Affordability.

  • Qualified Units will be dispersed throughout the Project in a manner acceptable to OHCS and in compliance with Section 2.

  • Owner will use Loan or other Conduit Bond or LIHTC funds only for financing of eligible costs related to Project Work with respect to the [Number Longhand~] ([#~]) Qualified Units of the [Number Longhand~] ([#~]) total Units in the Project and such eligible common areas and other aspects of the Project, consistent with Program Requirements, as well as any other Units and elements as described in the Application and approved in the Reservation.

  • Throughout the Affordability Period, Owner will restrict Rents with respect to the Qualified Units in compliance with Program Requirements, with not-to-exceed limit standards as reflected in the above table.


More Definitions of Qualified Units

Qualified Units means the number of housing opportunity
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Qualified Units means Dwelling Units, the respective Residents of which have an aggregate gross income of not more than the applicable limits permitted in this Agreement at the time of initial occupancy. A Residential Unit occupied by one or more students will only constitute a Qualified Unit if such students meet the requirements of Section 142(d)(2)(c) of the Code. The character of a Unit as a Qualified Unit will be re-determined from time to time as described in this Agreement. [Note: If shaded sentence not applicable, delete.]
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Qualified Units means those low-income apartment units in the Apartment Complex which meet the requirements of Section 42(i)(3) of the Code.
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Qualified Units means the number of housing opportunity units located in the property, with the limitation that no more than two units or 20 percent of the total units in the property, whichever is greater, may be considered qualified units. The unit must also be in compliance with local building codes and housing quality standards.
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Related to Qualified Units

  • Qualified shares means all shares entitled to be voted with respect to the transaction except for shares that the secretary or other officer or agent of the corporation authorized to count votes either knows, or under subsection 4 is notified, are held by:

  • Covered Units means: (i) during the period of the Employee’s employment with the Corporation, each business unit of the Corporation; and (ii) following the Employment Termination Date, each business unit of the Corporation in or for which the Employee was employed or to which the Employee provided services or about which the Employee obtained or had access to Confidential Information, in each case of this clause (ii) at any time within the twenty-four (24)-month period prior to the Employment Termination Date. The Employee acknowledges and agrees that if the Employee is or was employed at a segment level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of such segment; and if the Employee is or was employed at the corporate/headquarters level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of the Corporation.

  • Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Tendered Units shall have the meaning set forth in Section 8.6.A.

  • Class B Units means the Class B Units of the Company.

  • Redeemed Units has the meaning set forth in Section 11.01(a).

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Designated Unit means information technology devices (e.g. hard disks or central processing units) identified by Licensee pursuant to this Agreement that have been officially made known to the public as appropriate for Use or interoperation with the Software.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Membership Units means membership interests in the Company.

  • Offered Units shall have the meaning set forth in Section 11.1 hereof.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Unvested Units means any Executive Units which are not Vested Units.

  • Non-Qualified Share Option means an Option that is not intended to be an Incentive Share Option.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Common Units is defined in the Partnership Agreement.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Exempt Securities has the meaning set forth in Section 4.4(d).

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Qualified Securities means securities of a reporting issuer that carry the right to participate in voting on the appointment or removal of the reporting issuer’s auditor;

  • Company Units has the meaning set forth in the Recitals.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.