Unsold Homes definition

Unsold Homes. Unsold Homes shall mean the Dollar amount of capitalized construction costs of any Dwelling Unit being built for which the construction of slab (or foundation) has been completed and upon which no cash deposit has been paid pursuant to an enforceable agreement of sale. Such Dollar amount shall include the proportional costs of the land under the Dwelling Unit, site improvements and soft costs actually incurred to date. 1.2
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Unsold Homes means the Dollar amount of capitalized construction costs of any Dwelling Unit being built by a Loan Party for which the construction of slab (or foundation) has been completed and upon which no cash deposit has been paid pursuant to an enforceable agreement of sale. Such Dollar amount shall include the proportional costs of the land under the Dwelling Unit, site improvements and soft costs actually incurred to date. USA Patriot Act shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56, as the same has been, or shall hereafter be, renewed, extended, amended or replaced.
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Unsold Homes as to the Borrower and any of its Subsidiaries which is a Loan Party, at a particular date, all Housing Units that are not Model Homes or Sold Homes.
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Examples of Unsold Homes in a sentence

  • Unsold Homes shall mean the Dollar amount of capitalized construction costs of any Dwelling Unit being built for which the construction of slab (or foundation) has been completed and upon which no cash deposit has been paid pursuant to an enforceable agreement of sale.

  • Unsold Dwelling Units shall mean the number of Dwelling Units comprising from time to time "Unsold Homes".

  • Costs of Services for Unsold Homes Prior to Their First SaleManagers should ensure that no contribution is sought from owners to meet service costs attributable to unsold homes prior to the first sale of those units.

  • Each Member is entitled to one (1) vote regardless of the number of Homes, Units or Unsold Homes or Unsold Units owned by a Member except as provided for in the election of Directors as described in Article VIII, Section 2 of the By-Laws.

  • Developer shall retain the right, so long as there are any Unsold Homes or Unsold Units on the Properties, to place any easements in, to or under the Properties which Developer shall deem necessary for the health, safety and benefit of the Association and its Members or required by any municipality and/or governmental agency.

  • In no event, however, will the Developer be required to make a Deficiency Contribution in an amount greater than it would otherwise be liable for if it were paying Full Association Maintenance Charges on Unsold Homes or Units for the Unsold Homes or Units, built or un-built, in all Phases then subject to this Declaration of Covenants and Restrictions (“Maximum Deficiency Contribution”).

  • Mortgages on Completed Unsold Homes as of the Amendment Effective Date, including all related Mortgage Requirements, will be delivered no later than December 22, 2006.

  • In the event the Association Common Expenses exceed the amount contributed by the Members who have closed title to their Home or Unit plus the Maximum Deficiency Contribution from the Developer, the additional Association Maintenance Charges are to be pro-rated equally among the Members who have closed title to their Home or Unit and the Unsold Homes or Unsold Units still owned by the Developer in all Phases then subject to this Declaration of Covenants and Restrictions.

  • Collectively, models, unsold finished Homes (less than one year old) and Unsold Homes Under Construction and the lots on which they are located.

  • The Borrower and its Restricted Subsidiaries will have the option to deliver Mortgages on Unsold Homes Under Construction to the extent they desire to include such Unsold Homes Under Construction in the Borrowing Base.

Related to Unsold Homes

  • Timber means forest trees, standing or down, of a commercial species, including Christmas trees. However, "timber" does not include Christmas trees that are cultivated by agricultural methods, as that term is defined in RCW 84.33.035.

  • Manufactured home means a structure, transportable in one or more sections, which is built on a permanent chassis and is designed for use with or without a permanent foundation when attached to the required utilities. The term "manufactured home" does not include a "recreational vehicle".

  • Finished Lots Entitled Land with respect to which (a) development has been completed to such an extent that permits to allow use and construction, including building, sanitary sewer and water, are entitled to be obtained for a Unit on such Entitled Land and (b) start of construction has not occurred.

  • Eligible Property means property beneficially owned by a person or entity other than the Fund and held in a bank account maintained by BNYM for or on behalf of the Fund, or property held in a Fund shareholder account, which is (x) subject to reporting or escheat under an Unclaimed Property Law, (y) of a nature or type or classification reasonably related to the services performed by BNYM under this Agreement (such as cash amounts representing non-negotiated dividend checks and shares in abandoned shareholder accounts), and (z) under the control of BNYM.

  • Timberland means land, other than land owned by the federal government and land designated by the board as experimental forest land, which is available for, and capable of, growing a crop of trees of a commercial species used to produce lumber and other forest products, including Christmas trees. Commercial species shall be determined by the board on a district basis.

  • Portfolio Asset means an asset of an investment fund;

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • funeral home means a building or structure with facilities for the preparation of dead persons for burial or cremation, for the viewing of the body and for funeral services;

  • Multifamily Property means a Property improved with, and from which at least 80% of the rental income is derived from, residential apartments, which may include a Property that is a part of a Mixed-Use Project.