Eligible Property Owner Sample Clauses
Eligible Property Owner. Each Person (i) that is a limited liability company or statutory trust, (ii) that is 100% legally and beneficially owned by the Trust Guarantor, (iii) that is managed by the LLC Guarantor, (iv) with respect to which the Trust Guarantor has pledged its membership interest or trust certificate to the Agent pursuant to the Guarantor Pledge Agreement, (v) whose Governing Documents have been approved by the Agent, (vi) whose Governing Documents include, and require compliance with, the SPE Requirements and (vii) that has satisfied the “know your customer” requirements of the Agent, the Paying Agent and each Lender.
Eligible Property Owner. (WAC 365-175-030) In order to receive HRGP assistance, households must be “low-income” with documented incomes at or below 200 percent of the federal poverty level as determined annually by the federal Department of Health and Human Services, 80 percent of the area median income for the county in which the home receiving rehabilitation is located, or 60 percent of the state median income, whichever is greater, and as adjusted for household size.