HAP Payments Sample Clauses
HAP Payments. This Section 5.4.9 is applicable to only the Chimneys of Cradlerock Property. To the extent that, at the Closing, there are accrued but unpaid amounts due to the Seller of the Chimneys of Cradlerock Property under the HAP Contract, then to the extent the Seller of the Chimneys of Cradlerock Property or Purchaser receive such amounts at any time after Closing, then such amounts shall be prorated on an if, as and when received basis, in the same manner as other income of the Chimneys of Cradlerock Property, with the Seller of the Chimneys of Cradlerock Property receiving HAP payments attributable to dates prior to Closing of the Chimneys of Cradlerock Property, and Purchaser receiving HAP payments attributable to dates from and after the Closing Date of the Chimneys of Cradlerock Property.
HAP Payments. HAP Payments and all dues, fees, assessments and impositions with respect to a Parcel shall be apportioned as of the Closing Date.
HAP Payments. HAP Payments and all dues, fees, assessments and impositions with respect to a Parcel shall be apportioned as of the Cut-Off Time.
HAP Payments. In connection with the early disposition of the units in the Project, HUD has authorized the Authority to enter into certain Project Based Vouchers ("PBVs") Housing Assistance Payments ("HAP") Contracts for such units with Lessee with the understanding that the Lessee shall use the HAP payments as described in this Article 4.