HUD Approval. The terms of this Section 4.11 apply only to the Chimneys of Cradlerock Property.
HUD Approval. (1) The family may request HUD approval of a sale, equity withdrawal or other transfer of the property without full repayment. Ap- proval will be granted if HUD deter- mines that an undue hardship will re- xxxx from the application of the repay- ment requirement. Generally, HUD will
HUD Approval. The FCRHA is responsible for seeking concurrence from the U.S. Department of Housing and Urban Development with regard to the relocation of the Existing RAD Units, including the right of return for the current residents of the Existing RAD Units and the transfer of the related project based vouchers (the “HUD Approval”). The FCRHA will keep One University reasonably apprised of the FCRHA’s discussions with HUD regarding efforts to obtain the HUD Approval, will discuss those efforts with One University, and will share related documentation of these discussions with One University. The parties agree that the HUD Approval is anticipated to first include an initial and conceptual approval of the proposal for One University and subsequently to include a more detailed final HUD Approval to allow the disposition of the property. In no event will the Closing occur without prior receipt of the HUD Approval.
HUD Approval. For purposes of this subpart only, any action or ap- proval that is required to be taken or provided by HUD or by the HUD field office, pursuant to a requirement set forth in subparts A through F of this part, shall be construed to mean that HUD Headquarters shall take such ac- tion or provide such approval, unless the field office is authorized in writing by Headquarters to carry out a specific function under this subpart.
HUD Approval. Notwithstanding anything herein to the contrary, if the FCRHA has not received approval from the U.S. Department of Housing and Urban Development to use proceeds from the sale of the Sale Property for site work costs related to the Affordable Housing Units (the “HUD Approval”) by June 30, 2017 (“HUD Deadline”), then the FCRHA shall have the ability, upon delivery of written notice to CHPPENN by no later than August 1, 2017, to (A) terminate this Agreement, effective as of the date of such notice, or (B) extend the HUD Deadline to a date that shall be no later than September 1, 2017, or with CHPPENN’s consent, not to be unreasonably withheld, conditioned or delayed, to a date that shall be no later than the Closing Date. If the HUD Approval has not been received by any such extended date, this Agreement shall automatically terminate, and thereupon the parties hereto shall have no further rights or obligations hereunder except for those rights and obligations which specifically survive termination hereunder. The FCRHA will keep CHPPENN reasonably apprised of the FCRHA’s discussions with HUD regarding efforts to obtain the HUD Approval, will discuss those efforts with CHPPENN, and will share related documentation of these discussions with CHPPENN.
HUD Approval. Within six (6) months following the date of this Agreement, Seller shall become a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act and shall thereafter remain a HUD-approved mortgagee thereunder.
HUD Approval. Section 7.4(a).................................58 IRS ..............................................................Section 4.8(a).................................31
HUD Approval. This Agreement is expressly conditioned upon preliminary approval by HUD of the transaction as set forth in Form 92266, Application for Transfer of Physical Assets, and supporting documents submitted to HUD. No transfer of any interest in any project under this Agreement shall be effective prior to such HUD approval. Purchaser will not take possession of any project nor assume benefits of any project ownership prior to such approval by HUD. Purchaser, its successors and assigns shall have no right upon any breach by Seller hereunder to seek damages, directly or indirectly, from any project which is the subject of this transaction, including from any assets, rents, issues or profits thereof, and Purchaser shall have no right to effect a lien upon any such project or the assets, rents, issues or profits thereof.” Please confirm the Sellers’ agreement with the foregoing by executing this letter agreement below. Sincerely, G&E XX XXXX XX SOUTHEASTERN SNF PORTFOLIO, LLC By: /s/ Xxxxx Xxxxxx Name: Xxxxx Xxxxxx Title: Authorized Signatory Acknowledged and agreed as of the date set forth above: SELLERS: FALLIGANT AVENUE ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx LTC CONSULTING, L.P. By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President XXXX ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx CONGRESS STREET PARTNERS, L.P. By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President XXXXX ROAD ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx ENGLAND ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President POWDER SPRINGS ROAD ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx XXXXX COURT ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President RED RIVER ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx XXXXXX PLACE ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President SAN XXXXXXXXX ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx XXXXXXXX MILL ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President SAN XXXXXX ASSOCIATES, L.P. FACILITY INVESTMENTS, L.P. By: /s/ Xxxxx X. Xxxxxxx By: /s/ Xxxxx X. Xxxxxxx Name: Xxxxx X. Xxxxxxx Title: President Name: Xxxxx X. Xxxxxxx Title: President TENNESSEE PROPERTY ASSOCIATES, L.P. By: /s/ Xxxxx X. Xxxxxxx SOUTH PARKWAY A...
HUD Approval. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Section 203 and 211 of the National Housing Act, as amended.
