Homeownership Units Sample Clauses

The "Homeownership Units" clause defines the specific residential units within a development or project that are designated for individual ownership rather than rental or other forms of tenure. This clause typically outlines the criteria for qualifying as a homeownership unit, such as location, size, or compliance with certain affordability requirements, and may specify how these units are to be sold or transferred to eligible buyers. Its core practical function is to ensure that a portion of the housing stock is reserved for owner-occupancy, supporting homeownership opportunities and meeting regulatory or policy objectives related to affordable housing.
Homeownership Units. (1) For each phase of development of mixed finance homeownership replacement housing (which does not include the provision of HOPE VI funds for only subordinate mortgage assistance to eligible families), the Grantee will enter into an Addendum to this HOPE VI Grant Agreement for the Mixed Finance Development of Homeownership Replacement Units. (2) Homeownership units may only be deemed to be replacement units if such units do not exceed the total number of units that have been or will be demolished and/or disposed of at the targeted severely distressed project and otherwise meet the requirements listed in Article III(C) of this Grant Agreement.
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Homeownership Units. (1) For each phase of development of mixed finance homeownership replacement housing, the Grantee will enter into an Addendum to this HOPE VI Grant Agreement for the Mixed Finance Development of Homeownership Replacement Units. (2) Homeownership units may only be deemed to be replacement units if such units do not exceed the total number of units to be demolished and/or disposed of at the targeted severely distressed project and otherwise meet the requirements listed in Article III(C) of this Grant Agreement.
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Related to Homeownership Units

  • Membership Units The Company is initially organized with One (1) class of Membership Interests, designated in Units, which Units are initially the only class of equity in the Company. The Units shall have no par value and shall be of a single class with identical rights. The Company shall have a first lien on the Units of any Member for any debt or liability owed by such Member to the Company. Additional and different classes of Membership Interests represented by different Units may be created and issued to new or existing Members on such terms and conditions as the Governors may determine. Such additional and different classes may have different rights, powers and preferences (including, without limitation, voting rights and distribution preferences), which may be superior to those of existing Members. Members shall have no preemptive rights to acquire additional or newly created Units.

  • Partnership Units Each Partner shall own Partnership Units in the amounts set forth for such Partner in Exhibit A and shall have a Percentage Interest in the Partnership as set forth in Exhibit A, which Percentage Interest shall be adjusted in Exhibit A from time to time by the General Partner to the extent necessary to reflect accurately redemptions, additional Capital Contributions, the issuance of additional Partnership Units or similar events having an effect on the number of Partnership Units held by, and the Percentage Interest of, any Partner. Each Partnership Unit shall entitle the holder thereof to one vote on all matters on which the Partners (or any portion of the Partners) are entitled to vote under this Agreement.

  • Capital Stock and Ownership The Capital Stock of each of Holdings and its Subsidiaries has been duly authorized and validly issued and is fully paid and non-assessable. Except as set forth on Schedule 4.2, as of the date hereof, there is no existing option, warrant, call, right, commitment or other agreement to which Holdings or any of its Subsidiaries is a party requiring, and there is no membership interest or other Capital Stock of Holdings or any of its Subsidiaries outstanding which upon conversion or exchange would require, the issuance by Holdings or any of its Subsidiaries of any additional membership interests or other Capital Stock of Holdings or any of its Subsidiaries or other Securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase, a membership interest or other Capital Stock of Holdings or any of its Subsidiaries. Schedule 4.2 correctly sets forth the ownership interest of Holdings and each of its Subsidiaries in their respective Subsidiaries as of the Closing Date.

  • Share Ownership No officer or director or any direct or indirect beneficial owner (including the Insiders) of any class of the Company’s unregistered securities is an owner of shares or other securities of any member of FINRA participating in the Offering (other than securities purchased on the open market).