Senior Units definition

Senior Units means the Company's Class A Senior Units, Class B Senior Units, and Class C Senior Units.

Senior Units shall have the meaning provided in Section 4.

Senior Units means any Partnership Unit representing any class or series of Partnership Interest ranking, as to distributions, or rights upon voluntary or involuntary liquidation, dissolution or winding up of the Partnership, senior to the Series A Preferred Units.

Examples of Senior Units in a sentence

• Applicants that propose Senior Units mixed with all-ages units must affirmatively demonstrate that their proposed mix is fully compliant with the Fair Housing Act and the Housing for Older Persons Act of 1995 (HOPA) Exemption.

• Senior Units - A number of units shall be reserved for Age Restricted Units.

• Between 100 and 250 of all Residential Units shall be Senior Units.

• As more particularly set forth in the Affordable Housing Covenant, twenty percent (20%) of all Senior Units shall be rented to and occupied by Very Low Income Households at an Affordable Rent for a period of not less than fifty-five (55) years (each, an “Affordable Senior Unit” and, collectively, the “Affordable Senior Units”).

• Developer’s covenants with respect to the development, use, maintenance, and operation of the Affordable Units, Affordable Senior Units and Affordable Veterans Units shall be more particularly set forth in the Affordable Housing Covenant, which shall run with the Disposition Property and be binding on Developer and its successors and assigns for the period of time set forth therein.

More Definitions of Senior Units

Senior Units has the meaning set forth in Section 4.3.1.

Senior Units shall have the meaning set forth in Section 9(a) hereof. "set apart for payment" shall be deemed to include, without any action other than the following, the recording by the Partnership in its accounting ledgers of any accounting or bookkeeping entry which indicates, pursuant to a declaration of distributions by the Managing General Partner, the allocation of funds to be so paid on any series or class of partnership units of the Partnership; provided, however, that if any funds for any class or series of -------- ------- Junior Units or Fully Junior Units or any class or series of Parity Units are placed in a separate account of the Partnership or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series D Partnership Preferred Units shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent.

Senior Units means any Units of the Company other than Junior Units.

Senior Units means the units representing limited partner interests of the Company, having the rights and obligations specified with respect to Senior Subordinated Units of the Company.

Senior Units. See the second introductory paragraph of this Agreement.

Senior Units shall have the meaning assigned to it in Section 3(c) hereof.

Senior Units means each class of Units established after the Issue Date by the Board, the terms of which expressly provide that such class or series will rank senior to the Preferred Units as to distribution rights or rights upon a Liquidation of the Company.