Limitations on Tenants Sample Clauses

Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Borrower hereby covenants on behalf of itself, and its successors and assigns, which covenant shall run with the land and bind every successor and assign in interest of Borrower, that, throughout the fifty five (55) year term of the CC&Rs, Borrower and such successors and assigns shall use the Site solely for the purpose of constructing and operating the Project as a residential development with the number of dwelling units and, with respect to the units designated to be assisted as consideration for the HOME Loan (“Assisted Units”), the tenant income levels specified in the Transaction Summary above and in this Section 10.1.. All Assisted Units, which shall comprise not less than seventy four (74) units at the Project, shall be rented only at an “Affordable Housing Cost” to persons (“Eligible Persons”) of “Very-Low Income” as specified in the Transaction Summary above and otherwise defined in this Section 10.1. Assisted Units shall be dispersed throughout the Project, and shall be no less attractive or desirable on average (whether because of convenient access, views, amenities, or other reasons) than the other Project units which are not Assisted Units. The covenants described in this Section 10.1 shall remain in effect notwithstanding the repayment of the Loan by Borrower prior to the Maturity Date.
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Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Owner hereby covenants on behalf of itself, and its successors and assigns, which covenant shall run with the land and bind every successor and assign in interest of Owner, that, throughout the fifty- five (55) year term of this Agreement (“Term”) commencing on the date of this Agreement, Owner and such successors and assigns shall use the Site solely for the purpose of developing and operating the Project as a residential rental development consisting of seventy five (75) dwelling units, which shall be operated in accordance with the terms of this Agreement. Of the 75 total dwelling units in the Project, 74 units (the “HOME Assisted Units”) shall be income-restricted and rented only at an “Affordable Housing Cost” (as defined below) to “Very Low Income Households” as hereinafter defined (persons within such group occasionally referred to as “Eligible Persons”). HOME Assisted Units shall be dispersed throughout the Project, and shall be no less attractive or desirable on average (whether because of convenient access, views, amenities, or other reasons) than the other Project units, if any, that are not HOME Assisted Units. Subject to the reasonable approval of the Commission’s Executive Director (or his or her designee), the location of the HOME Assisted Units within the Project may be changed from time by Owner.
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Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Borrower hereby covenants on behalf of itself, and its successors and assigns, which covenant shall run with the land and bind every successor and assign in interest of Borrower, that, throughout the 55 year term of the CC&Rs, Borrower and such successors and assigns shall use the Site solely for the purpose of constructing and operating the Project as a residential development with the number of dwelling units and, with respect to the units designated to be assisted as consideration for the HOME Loan (“Assisted Units”), 124 HOME-Assisted Units shall be in accordance with the tenant income levels specified in this Agreement. All Assisted Units shall be rented only at an “Affordable Housing Cost” to “Low-Income Households,” “Sixty Percent Income Households,” “Very Low-Income Households,” or “Very Very Low-Income Households” as hereinafter defined (persons within either group occasionally referred to as “Eligible Persons”).
Sample 1
Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Owner hereby covenants on behalf of itself, and its successors and assigns, which covenant shall run with the land and bind every successor and assign in interest of Owner, that, throughout the Fifty-Five (55) Year term of this Agreement (“Term”) commencing on the date of this Agreement, Owner and such successors and assigns shall use the Site solely for the purpose of developing and operating the Project as a residential rental development consisting of 125 dwelling units, which shall be operated in accordance with the terms of this Agreement. Of the 125 total dwelling units in the Project, 124 units (the “HOME Assisted Units”) shall be income-restricted and rented only at an “Affordable Housing Cost” (as defined below) and only to households meeting the income criteria applicable to the unit as provided in the following table: Household Income Level No. of Studio units No. of 1- BR units No. of 2- BR units No. of 3-BR units Total HOME Assisted Units for this income level Manager’s unit Low Sixty Percent 74 1 13 1 87
Sample 1
Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Owner hereby covenants on behalf of itself, and its successors and assigns, which covenant shall run with the land and bind every successor and assign in interest of Owner, that, throughout the Fifty-Five (55) Year term of this Agreement (“Term”) commencing on the date of this Agreement, Owner and such successors and assigns shall use the Site solely for the purpose of developing and operating the Project as a residential rental development consisting of 85 dwelling units, which shall be operated in accordance with the terms of this Agreement. Of the 85 total dwelling units in the Project, 83 units (the “HOME Assisted Units”) shall be income-restricted and rented only at an “Affordable Housing Cost” (as defined below) and only to households meeting the income criteria applicable to the unit as provided in the following table: 0 Bedroom 1 Bedroom 2 Bedrooms 3 Bedrooms 4 Bedrooms Totals 30% Income* 10 10 10 30 50% Income* 0 60% Income* 9 37 7 53 HOME Assisted Units shall be dispersed throughout the Project, and shall be no less attractive or desirable on average (whether because of convenient access, views, amenities, or other reasons) than the other Project units, if any, that are not HOME Assisted Units. Subject to the reasonable approval of the Commission’s Executive Director (or his or her designee), the location of the HOME Assisted Units within the Project may be changed from time by Owner.
Sample 1
Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Owner hereby covenants on behalf of itself, and its successors and assigns, which covenants shall run with the land and bind every successor and assign in interest of Owner, that, throughout the Term, Owner and such successors and assigns shall use the Site solely for the purpose of developing and operating the Project as a residential development. [If non-residential uses on the Site or within the development is not a part of the First 5 LA funding, include the following sentence template based on the actual project] First 5 LA acknowledges that the Site [will include / includes] commercial space [and/or] supportive services uses which fall outside of the consideration of the Loan. Owner agrees to comply with the CC&Rs and with any income, rent, and occupancy restrictions imposed by Senior, Junior, and Other Financing and by the California Tax Credit Allocation Committee (“CTCAC”), if applicable. If there is a conflict between the requirements of the Senior, Junior, and Other Financing, CTCAC and / or First 5 LA, the most restrictive requirement will prevail. [if separate Limitations for Residential and Non-Residential Tenants, use numbering and heading. If not, remove numbering and heading]
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Limitations on Tenants. Notwithstanding anything to the contrary in this Agreement, Borrower hereby covenants on behalf of itself, and its successors and assigns, which covenants shall run with the land and bind every successor and assign in interest of Borrower, that, throughout the thirty (30) year term of the CC&Rs, Borrower and such successors and assigns shall use the Site solely for the purpose of developing and operating the Project as a residential development as outlined in the Transaction Summary above and further described below. [If non-residential uses on the site or within the development are not a part of the First 5 LA funding, include the following sentence template based on the actual project] First 5 LA acknowledges that the Site [will include / includes] commercial space [and/or] supportive services uses that fall(s) outside of the consideration of the Loan. [if separate Limitations for Residential and Non-Residential Tenants, use numbering and heading. If not, remove numbering and heading: ]
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Related to Limitations on Tenants

  • Limitations on Use No part of the moneys delivered to the Recipient pursuant to Section II hereof is being or will be used to refinance, retire, redeem, or otherwise pay debt service on all or any part of any part of any governmental obligations regardless of whether the interest on such obligations is or was excluded from gross income for federal income tax purposes unless prior approval by the Director is given.

  • Limitations on Transfers Federal regulations limit transfers for savings accounts and money market accounts, if applicable. During any statement period, you may not make more than six withdrawals or transfers to another Credit Union account of yours or to a third party by means of a pre-authorized or automatic transfer. This includes transfers by phone, fax, wire and cable, audio response, overdraft transfers to checking and Internet instruction. No more than three of the six transfers may be made by check, draft or debit card, or similar order to a third party. A pre-authorized transfer includes any arrangement with us to pay a third party from your account upon oral or written orders including orders received through the automated clearinghouse (ACH). If you exceed the transfer limitations set forth above in any statement period, the transfer may not be completed, your regular share account and draft account may be subject to a fee, account closure, or suspension or we may revoke your access to Online Banking. We will not be required to complete a withdrawal or transfer from your account(s) if you do not have enough money in the designated account(s) to cover the transaction; however, we may complete the transaction. You agree not to use Online Banking to initiate a transaction that would cause the balance in your designated account(s) to go below zero. If you have a line-of-credit, you agree not to use Online Banking to initiate a transaction that would cause the outstanding balance of your line-of-credit to go above your credit limit. We will not be required to complete such a transaction, but if we do, you agree to pay us the excess amount or improperly withdrawn amount or transferred amount immediately upon our request. We also will refuse to complete your Online Banking transactions if we have canceled your Online Banking access, or we cannot complete the transaction for security reasons. The functions and limitations of Online Banking may be updated, without notice, at the option of the Credit Union in order to provide improved service to the membership.

  • Limitations on Transfer In addition to any other limitation on transfer created by applicable securities laws, Purchaser shall not assign, encumber or dispose of any interest in the Shares except in compliance with the provisions below and applicable securities laws.

  • Limitations on Rights of Others The provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholder, the Servicer and, to the extent expressly provided herein, the Trustee, the Trust Collateral Agent and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

  • Restrictions on Testing If the Engineer will perform commercial laboratory testing under this contract, on any project the Engineer may not perform more than one of the following types of testing:

  • Restrictions on Use Licensee is not permitted to make any use of the Licensed Marks in connection with products or services other than the Sprint PCS Products and Services, and as specifically authorized in Sections 1.1(b) above with respect to Related Equipment and Premium and Promotional Items, nor to make any use of the Licensed Marks directed outside of the Service Area.

  • Limitations on Remedies 7.1 IN NO EVENT WHATSOEVER SHALL SELLER OR ANY OF THE TEKNI-PLEX COMPANIES OR ANY OF ITS OR THEIR EMPLOYEES, AGENTS OR SUPPLIERS HAVE ANY LIABILITY, WHETHER BASED ON BREACH OF CONTRACT, WARRANTY, BREACH OF STATUTORY DUTY, NEGLIGENCE, TORT, STRICT LIABILITY OR OTHERWISE, IN AN AMOUNT IN EXCESS OF THE AMOUNT ACTUALLY RECEIVED BY SELLER FROM BUYER AS PURCHASE PRICE FOR THE PRODUCTS OR SERVICES WHICH ARE THE SUBJECT OF A CLAIM OR SERIES OF RELATED CLAIMS. IN NO EVENT WHATSOEVER SHALL SELLER OR ANY OF ITS EMPLOYEES, AGENTS OR SUPPLIERS HAVE ANY LIABILITY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, STATUTORY, PUNITIVE OR EXEMPLARY DAMAGES, EVEN IF SELLER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, INCLUDING BUT NOT LIMITED TO ANY DAMAGES ARISING FROM OR RELATING TO ANY INJURY TO PERSONS; LOSS OF VALUE OR USE (INCLUDING WITHOUT LIMITATION, DIMINUTION IN VALUE OR STIGMA DAMAGES); LOSS OF ANTICIPATED REVENUE OR PROFIT; COST OF CAPITAL; DAMAGE TO OR LOSS OF OTHER PROPERTY OR EQUIPMENT; CLAIMS MADE BY END-USERS; OR COST OF SUBSTITUTE SUPPLIES, FACILITIES OR SERVICES.

  • Limitations on Our Liability We try to ensure that you can always use your card. Occasionally, however, you may not be able to do so because of systems or communication problems involving a merchant, the network or us. We may also block use of your card or a particular type of transaction for any reason and without telling you, including in cases where we suspect unauthorized or fraudulent use of the card. Under no circumstances are we liable to you if you cannot use your card.

  • Restrictions on Transfers (a) Except as provided in Section 4.8(e), notwithstanding the other provisions of this Article IV, no transfer of any Partnership Interests shall be made if such transfer would (i) violate the then applicable federal or state securities laws or rules and regulations of the Commission, any state securities commission or any other governmental authority with jurisdiction over such transfer, (ii) terminate the existence or qualification of the Partnership under the laws of the jurisdiction of its formation, or (iii) cause the Partnership to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes (to the extent not already so treated or taxed). The Partnership may issue stop transfer instructions to any Transfer Agent in order to implement any restriction on transfer contemplated by this Agreement.

  • Restrictions on Lobbying The subrecipient shall not use funds made available to it under this Agreement to pay for, influence, or seek to influence any officer or employee of a State or Federal government.

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