Residential Buyer definition

Residential Buyer means a person or persons who acquires an individual Lot or several contiguous Lots (whether improved or unimproved) within the Property, not as part of a bulk purchase of Lots for the purpose of development or splitting and re- sale, but for single family residential purposes, and any subsequent owner. A purchaser can be a “Residential Buyer” hereunder even if that purchaser is buying a Lot for investment purposes (either for speculation or rental), provided that the purchaser is not buying multiple Lots for the purpose of developing or splitting and then reselling them.
Sample 1

Examples of Residential Buyer in a sentence

  • If the Contribution is to be paid to the County through an escrow, the County shall deposit the lien release into escrow also, to be recorded upon closing of the sale to the Residential Buyer.

  • If Developer sells an Improved Lot to a Residential Buyer, Developer shall pay to the County, at the closing of the sale of the Improved Lot to the Residential Buyer, a sum equal to the applicable “contribution factor” (as shown on Exhibit B) multiplied by the actual sales price of the Lot, up to the maximum contribution shown on Exhibit B.

  • Instead, the lien created by this agreement shall remain on the Unimproved Lot, but the lien shall be automatically subordinated to any security interest in the Lot granted by the Residential Buyer to secure a loan made to Buyer to purchase the Lot.

  • If Residential Buyer does not obtain a construction loan, the value shall be the full cash value established by the Assessor, and the Contribution shall be paid upon completion of the improvements.

  • The sales price of the Lot shall mean the price paid by the Residential Buyer for the Lot (including all improvements thereon), without deduction for any broker or realtor fees or commissions.

  • The Residential Buyer shall pay the Contribution to the Fund at such time as the Residential Buyer improves the Lot.

  • This instrument shall be recorded with the Pima County Recorder’s Office and Owner and Residential Buyer agree to waive any rights of confidentiality with respect to any information set forth herein.

  • The Agreement conveys no right or right of action by any Residential Buyer or Transferee against the County for any act or omission of the County, including but not limited to, the County decisions or acts that result in the Roads and Utilities Required Improvements, or any part of the Roads and Utilities Required Improvements, not being constructed.

  • If Developer sells an Unimproved Lot to a Residential Buyer, then Developer shall not be obligated to pay the above contribution to the County at the time of the closing of the sale of the Unimproved Lot to the Residential Buyer.

  • If the Residential Buyer obtains a loan to finance the improvement of the Lot, the value of the Lot as improved shall be the value established by the appraisal done by the Lender, and shall be paid by the Residential Buyer at the time of the funding of the loan.

Related to Residential Buyer

  • Qualified Institutional Buyer means any Person who is a “qualified institutional buyer” within the meaning of such term as set forth in Rule 144A(a)(1) under the Securities Act.

  • Qualified Institutional Buyers as defined in Rule 144A. It is aware that the sale of the Privately Offered Certificates is being made in reliance on its continued compliance with Rule 144A. It is aware that the transferor may rely on the exemption from the provisions of Section 5 of the Act provided by Rule 144A. The undersigned understands that the Privately Offered Certificates may be resold, pledged or transferred only to (i) a person reasonably believed to be a Qualified Institutional Buyer that purchases for its own account or for the account of a Qualified Institutional Buyer to whom notice is given that the resale, pledge or transfer is being made in reliance in Rule 144A, or (ii) an institutional "accredited investor," as such term is defined under Rule 501 of the Act in a transaction that otherwise does not constitute a public offering. The undersigned agrees that if at some future time it wishes to dispose of or exchange any of the Privately Offered Certificates, it will not transfer or exchange any of the Privately Offered Certificates to a Qualified Institutional Buyer without first obtaining a Rule 144A and Related Matters Certificate in the form hereof from the transferee and delivering such certificate to the addressees hereof. Prior to making any transfer of Privately Offered Certificates, if the proposed Transferee is an institutional "accredited investor," the transferor shall obtain from the transferee and deliver to the addressees hereof an Investment Letter in the form attached to the Pooling and Servicing Agreement, dated as of March 1, 2002, among Structured Asset Mortgage Investments Inc., Wells Fargo Bank Mixxxxxta, National Association, EMC Mortgage Corporation and Bank One, National Association, as Trustee, pursuant to Certificates were issued. The undersigned certifies that it either: (i) is not acquiring the Privately Offered Certificate directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, and/or section 4975 of the Internal Revenue Code of 1986, as amended, or (ii) is providing a representation or an opinion of counsel to the effect that the proposed transfer and/or holding of a Privately Offered Certificate and the servicing, management and/or operation of the Trust and its assets: (I) will not result in any prohibited transaction which is not covered under a prohibited transaction exemption, including, but not limited to, Prohibited Transaction Exemption ("PTE") 84- 14, PTE 91-38, XXX 00-0, XXX 00-00, XXX 00-00 xr Section 401(c) of ERISA and the regulations to be promulgated thereunder and (II) will not give rise to any additional fiduciary duties on the part of the Seller, the Master Servicer or the Trustee. If the Purchaser proposes that its Certificates be registered in the name of a nominee on its behalf, the Purchaser has identified such nominee below, and has caused such nominee to complete the Nominee Acknowledgment at the end of this letter. Name of Nominee (if any):

  • Retail buyer or "buyer" means a person who buys goods and services, or services from a contractor pursuant to a home improvement installment contract, or goods and services from a contractor pursuant to a home improvement charge agreement.

  • Rule 501 means Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

  • Accredited Investor has the meaning set forth in Regulation D promulgated under the Securities Act.

  • Institutional Accredited Investor means an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs.

  • Rule 144A means Rule 144A promulgated under the Securities Act.

  • Institutional Accredited Investors Institutions that are “accredited investors” within the meaning of Rule 501(a) (1), (2), (3) or (7) of Regulation D under the Act or any entity all of the equity owners of which are such institutions.

  • QIB/QP means a QIB that is also a QP.

  • Accredited Investors should complete this Section

  • Prohibited Investor means a person or entity whose name appears on (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control; (ii) other lists of prohibited persons and entities as may be mandated by applicable law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Fund in connection therewith;

  • U.S. Accredited Investor means an “accredited investor” as defined in Rule 501(a) of Regulation D;

  • Rule 144A Letter As defined in Section 5.02(b).

  • Subsequent Purchaser Any Person that acquires an interest in a Mortgage Loan from Purchaser.

  • Rule 904 means Rule 904 promulgated under the Securities Act.

  • Regulation S Investor With respect to a transferee of a Regulation S Global Certificate, a transferee that acquires such Certificate pursuant to Regulation S.

  • Accredited Investor Questionnaire means the Accredited Investor Questionnaire set forth as Exhibit C-1 hereto.

  • the International Bureau means the International Bureau of the World Intellectual Property Organization.

  • Accredited means approved by the:

  • Specified US Person means a U.S. Person, other than: (i) a corporation the stock of which is regularly traded on one or more established securities markets; (ii) any corporation that is a member of the same expanded affiliated group, as defined in section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (i); (iii) the United States or any wholly owned agency or instrumentality thereof; (iv) any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing; (v) any organization exempt from taxation under section 501(a) of the U.S. Internal Revenue Code or an individual retirement plan as defined in section 7701(a)(37) of the U.S. Internal Revenue Code; (vi) any bank as defined in section 581 of the U.S. Internal Revenue Code; (vii) any real estate investment trust as defined in section 856 of the U.S. Internal Revenue Code;

  • the Academy means the school referred to in Article 4 and established by the Academy Trust;

  • Offshore Transaction Any “offshore transaction” as defined in Rule 902(h) of Regulation S.

  • Institutional Accredited Investor Certificate means a certificate substantially in the form of Exhibit G hereto.

  • Non-U.S. Person means a Person who is not a U.S. Person.

  • retail investor means a person who is one (or more) of the following:

  • Institutional Holder An insurance company whose long-term debt is rated at least A- (or equivalent rating) by a Rating Agency, or an equivalent rating from any other nationally recognized statistical rating organization.