Restricted Unit definition

Restricted Unit means a Unit granted under the Plan that is subject to a Restricted Period.

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Restricted Unit means a dwelling unit, whether a rental unit or ownership unit, that is subject to the affordability controls of N.J.A.C. 5:80-26.1, as may be amended and supplemented, but does not include a market-rate unit financed under UHORP or MONI.

Restricted Unit means a Unit granted pursuant to Section 6(b) of the Plan that is subject to a Restricted Period.

Examples of Restricted Unit in a sentence

• Further, the submitted Income- Restricted Unit Occupancy Report shall also contain the recertification date, unit number and any other information that the County Manager or his designee deems reasonably necessary.

• The Borrower or its designated agent shall maintain on file for the Arlington County Housing Development Office the initial income certification for each Income Restricted Unit and the annual recertification that establishes continuing eligibility of each Tenant to lease the Income Restricted Unit.

• The Qualified Resident must occupy the Restricted Unit as their primary residence and may not utilize the Restricted Unit as a short-term vacation rental or sublease said unit to another individual or business.

• Developer shall maintain any Restricted Unit leases, income documents, certifications and verifications, and other documents related to the lease of the Restricted Unit for a period of three (3) years after the final date of occupancy by the lessee.

• The Restricted Unit shall be continuously occupied by a Qualified Resident and may not sit vacant for more than ninety (90) days unless reasonable and documented efforts to occupy the Restricted Unit are unsuccessful.

More Definitions of Restricted Unit

Restricted Unit means an Award of units representing Shares described in Section 9.1(b) of the Plan.

Restricted Unit means an apartment that is subject to an extended lease arrangement as provided in subsection (4).

Restricted Unit means a Unit granted under Section 4.6 to acquire Shares or an equivalent amount in cash, which Unit is subject to any restrictions that the Committee, in its discretion, may impose.

Restricted Unit means any Assisted Unit and any Unit that is subject to Rent and occupancy restrictions that are comparable to those applicable to Assisted Units. Restricted Units include Units subject to a TCAC regulatory agreement, and all Units subject to similar long-term, low-income or occupancy restrictions imposed by other public agencies.

Restricted Unit means a phantom, or notional, unit granted under the Plan which is equivalent in value and in distribution rights to a Unit and which, upon vesting, entitles the Participant to receive a Unit or its Fair Market Value in cash, whichever is determined by the Committee.

Restricted Unit means a notional account established pursuant to an Award granted to a Participant, as described in Article 8, that is (a) credited with amounts equal to Shares or some other unit of measurement specified in the Award Agreement, (b) subject to restrictions and (c) payable in cash or Shares.

Restricted Unit means the right, granted to a Participant pursuant to Article III, to receive an amount equal to the Fair Market Value of one share of Common Stock in cash.