Examples of Affordability Period in a sentence
During the Affordability Period, the Owner shall not evict or terminate the tenancy of an existing tenant of any Dwelling Unit other than for good cause and shall not increase the gross rent above the maximum allowed under Section 42 of the Code with respect to any Qualified Unit.
The Owner hereby agrees that the Project is to be developed, owned, managed and operated for the Affordability Period as “residential rental property,” as such phrase is used in Section 42(d) of the Code, on a continuous basis during the Affordability Period.
Notwithstanding any other provisions hereof, this Agreement and the restrictions and other provisions hereunder shall terminate on the termination of the Affordability Period without any further action being taken by any party hereto.