Functionally Related and Subordinate Facilities Sample Clauses
Functionally Related and Subordinate Facilities. The Project will consist of proximate buildings or structures located on a single "tract" of land which have similarly constructed Dwelling Units financed pursuant to a "common plan" together with Functionally Related and Subordinate Facilities, which will be owned by the same "person" (as such terms are used in the Treasury Regulations). Owner has covenanted (and does hereby covenant, represent and warrant) that no interest in either the Owner or the Project will be transferred except as permitted in Section 7 hereof.
Functionally Related and Subordinate Facilities. Facilities that are functionally related and subordinate to residential rental projects include facilities for use by the tenants, for example, swimming pools, other recreational facilities, parking areas, and other facilities which are reasonably required for the QRRP, for example, heating and cooling equipment, trash disposal equipment or units for resident managers or maintenance personnel.