Events of Noncompliance. If any one or more of the following events occurs, the CDFI Fund, in its sole discretion, may find the Recipient to be in noncompliance:
Events of Noncompliance. 9.1 If an Event of Noncompliance has occurred and is continuing, the Dividend Rate shall increase immediately by an increment of 1 percentage point. Thereafter, until such time as no Event of Noncompliance exists, the Dividend Rate shall increase automatically at the end of each succeeding 90-day period by an additional increment of 1 percentage point(s) (but in no event shall the Dividend Rate increase more than 5 percentage points hereby). Any increase of the Dividend Rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Event of Noncompliance exists, subject to subsequent increases pursuant to this paragraph. Notwithstanding the foregoing, the Dividend Rate will only be subject to an increase as contemplated by this Section 9.1 if the Parent or Company, as applicable, fails to cure such Event of Noncompliance within thirty (30) days of (i) in the case of an Event of Noncompliance arising from clause (c) of the definition thereof, the first date on which the Parent or Company acquires actual knowledge of the occurrence of such event or receives written notice from Holders representing a majority of the Preferred Stock outstanding of such occurrence, or (ii) in all other cases, the date of occurrence of the Event of Noncompliance.
Events of Noncompliance. (i) Definition. An Event of Noncompliance shall be deemed to have occurred if:
Events of Noncompliance. 26 9.1 Occurrence of Event of Noncompliance........................ 26 9.2 Remedies.................................................... 27
Events of Noncompliance. (a) An Event of Noncompliance shall be deemed to have occurred:
Events of Noncompliance. If an Event of Noncompliance (as defined the Series A Certificate of Designation) described in clauses (i), (ii) or (v) of the definition thereof has occurred and continues of a period of 180 days, the Exercise Price shall be reduced immediately by 50% of the Exercise Price in effect immediately prior to such adjustment and the number of shares of the Common Stock issuable upon exercise of this Series A Warrant shall equal two times the number of shares issuable immediately prior to such adjustment (the "FIRST ADJUSTMENT"). If such Event of Noncompliance exist for an aggregate of 90 days after the First Adjustment (whether or not such days are successive and whether or not such days immediately follow the First Adjustment), the Exercise Price shall be reduced immediately by 10% of what the Exercise Price would have been immediately prior to such adjustment if the First Adjustment had not been made (as such amount is appropriately adjusted for stock splits, stock dividends, combinations of shares and similar transactions affecting the Common Stock) (the "SECOND ADJUSTMENT"). If any Event of Noncompliance exists for an aggregate of 90 days after the Second Adjustment (whether or not such days are successive and whether or not such days immediately follow the Second Adjustment), the Exercise Price shall be reduced immediately by 10% of what the Exercise Price would have been immediately prior to such adjustment if the First Adjustment had not been made (as such amount is appropriately adjusted for stock splits, stock dividends, combinations of shares and similar transactions affecting the Common Stock). In no event shall any Exercise Price adjustment, once made, be rescinded.
Events of Noncompliance. If Development Owner is found to be in noncompliance for compliance monitoring purposes in accordance with the State Multifamily Rules.
Events of Noncompliance. The following events shall constitute ----------------------- "Events of Noncompliance":
Events of Noncompliance. (a) Definition. An “
Events of Noncompliance. 5.1 Definition. An "Event of Noncompliance" shall have occurred if:
