Sold Unit definition

Sold Unit means any Unit which is subject to a Sales Agreement.

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Sold Unit means a Unit that is subject to an Approved Contract.

Sold Unit has the meaning given it in Section 1.1(d).

Examples of Sold Unit in a sentence

• The royalties provided for in this Section 5.2 shall be payable with respect to each Sold Unit by SUBLICENSEE sold within the Territory and with respect to each Manufactured Unit produced by a further sublicensee or franchisee of the SUBLICENSEE within the Territory.

• The royalties provided for in this Section 5.2 shall be payable with respect to each Sold Unit by LICENSEE sold within the Territory and with respect to each Manufactured Unit produced by a sublicensee or franchisee of the LICENSEE within the Territory.

• The Servicer shall maintain its computer systems relating to the Sold Units so that, from and after the time of the allocation of Sold Units to the 1999-1A SUBI Portfolio, the Servicer's master computer records (including any backup archives) that refer to a Sold Unit shall indicate clearly the interest of the Issuer therein allocated at the UTI Trustee's direction by the Origination Trustee to the 1999-1A SUBI Portfolio.

• Speculative Units means any residential unit that is not a Sold Unit or a Model Unit.

• If requested by the Agent in its sole discretion, the Agent shall have received a copy of the Approved Contract for each Borrowing Base Asset that is identified by the Obligors as a Sold Unit.

• Each of the purchasers under the Sold Unit Contracts shall be referred to herein as a "Retail Purchaser".

• The Base Rent Per Sold Unit shall be increased annually, but not decreased, during the Demised Term.

• Any Unit which is not a Sold Unit and which is located on a Lot intended to be used as a model or sales office to conduct the business of marketing and selling Units.

• If any Sold Unit shall cease to be a Sold Unit, Borrower shall promptly notify Lender accordingly.

• Any Unit under a Contract of Sale that has not been canceled for any reason and has not yet Settled that contains a Customer Deposit of at least $500.00; however, if a customer's mortgage financing does not require a down payment, such Unit shall qualify as a Sold Unit without such Customer Deposit, provided, however, if such mortgage financing is provided by NVRMF, then such financing must be pursuant to a third party take-out commitment.

More Definitions of Sold Unit

Sold Unit means any Vehicle with respect to which a Borrower or Specified Borrower has executed a Sales Contract and/or an odometer statement.

Sold Unit means a Unit with respect to which Borrower and a purchaser, other than Borrower or any relative or Affiliate of Borrower, have executed a bona fide, valid and enforceable Sales Agreement under which there is a cash ▇▇▇▇▇▇▇ ▇▇▇ey deposit by the purchaser; provided, however, that if for any reason such a Sales Agreement fails to close in accordance with its terms or is terminated, the Unit shall no longer be a Sold Unit and shall become a Speculative Unit for purposes hereof; and provided further that Administrative Agent's approval of a purchaser in one transaction shall not constitute Administrative Agent's approval of that purchaser or any other purchaser having comparable credit and ability relative to other transactions.

Sold Unit means a Unit that is subject to a written contract for the sale of such Unit, made and entered into by and between a Borrower, or its duly authorized agent, and a bona fide third party purchaser, on a form approved by Agent, and (i) the consideration for such sale consists solely of cash, (ii) the purchaser has deposited ▇▇▇▇▇▇▇ money thereunder in an amount not less than (a) 5% of such sale price with respect to conventionally financed Units or (b) the minimum required percentage of the sale price under applicable programs of the Federal Housing Administration and/or the Department of Veterans Affairs, (iii) the purchaser thereunder has been pre-qualified by such Borrower, or its duly authorized agent, for a mortgage loan on the basis of generally accepted ratios of income to anticipated debt service on the proposed mortgage loan for such Unit, and (iv) such contract contains no contingencies other than those pertaining to the condition of title or otherwise permitted in writing by Agent.

Sold Unit means a single-family dwelling unit (whether detached or attached) owned by a Restricted Company, including the land on which such dwelling is located, where construction has commenced and that is subject to a written purchase agreement executed in the ordinary course of Borrower’s or such Restricted Subsidiary’s business (in a form customarily employed by Borrower or such Restricted Subsidiary) and with a person who is not an Affiliate of a Restricted Company, together with an e▇▇▇▇▇▇ money deposit, and such purchase agreement has not been terminated or entered into more than (x) twenty-four (24) months prior to the date of determination with respect to single-family attached dwelling units or (y) eighteen (18) months prior to the date of determination with respect to single-family detached dwelling units. The purchase agreement may contain customary contingencies to the purchaser’s obligation to purchase, including, without limitation, a condition to purchase or close subject to purchaser’s financing of the unit or purchaser’s sale of other property owned by the purchaser.

Sold Unit means a Licensed Product, that has been sold by Licensee or any of its sublicensees as permitted under this Sublicense and the sales price from such sale has been received or collected by the Licensee and as a result, is included in the determination of royalty payments due and owing to LICENSOR pursuant to the terms of this Agreement.