Effective Date of Rent Decrease Sample Clauses

Effective Date of Rent Decrease. If the Authority decreases the Monthly Rent pursuant to a regular or interim recertification or other rent review or reexamination, the new Monthly Rent shall be effective on the first day of the month following the date that the Lessee submitted all verifiable information that is required to be submitted by the Lessee on the forms provided or otherwise authorized by the Authority indicating a change in circumstances relevant to the calculation of rent. Decreases may, at the discretion of the Authority, be applied retroactively depending on the date of the month information is provided and the time for review and verification.