In this subpart,—
agreement for sale and purchase means a binding agreement for sale and purchase of a unit, whether or not the agreement is conditional or unconditional; and agreement has a corresponding meaning
buyer includes a prospective buyer
seller means the seller of a unit
settlement date means—
(a) the date on which the buyer pays to the seller the purchase price, or the balance of the purchase price, in exchange for the documents of title; or
(b) any other settlement date that may be specified in the agreement for sale and purchase.