No Subordination of Affordability Covenants Sample Clauses

No Subordination of Affordability Covenants. Except as otherwise provided herein or in the OPA, the affordability covenants in the Agreement Affecting Real Property (Attachment No. 6) shall be senior to the security instruments for all Senior Loans, including the Permanent Loan Deed of Trust.
Sample 1See All (4)
AutoNDA by SimpleDocs
No Subordination of Affordability Covenants. Notwithstanding anything to the contrary herein or in the DDA, the affordability covenants in the Agreement Affecting Real Property (Attachment No. 6) shall be senior to the security instruments for all Senior Loans, including the Permanent Deed of Trust. However, the affordability covenants in the Agreement Affecting Real Property may be subordinated to a lien, encumbrance, or regulatory agreement under a federal or state program as permitted under California Health and Safety Code Section 33334.14.
Sample 1Sample 2
No Subordination of Affordability Covenants. Notwithstanding anything to the contrary herein or in the DDA, the affordability covenants in the Agreement Affecting Real Property (Attachment No. 6), including any amendments thereto, shall be senior to the security instruments for all Senior Loans, including the Permanent Deed of Trust. Pursuant to Section 33334.14 (a) (1) of the CRL, the affordability covenants contained in the Agreement Affecting Real Property (Attachment No. 6) may be subordinated to a lien, encumbrance, or regulatory agreement under a federal or state program when a federal or state agency is providing financing, refinancing, or other assistance to the housing units or parcels, if the federal or state agency refuses to consent to the seniority of the Agreement Affecting Real Property on the basis that it is required to maintain its lien, encumbrance or regulatory agreement or restrictions due to statutory or regulatory requirements, adopted or approved policies, or other guidelines pertaining to the financing, refinancing, or other assistance of the housing units or parcels.
Sample 1
No Subordination of Affordability Covenants. Notwithstanding anything to the contrary herein or in the OPA, the affordability covenants in the Agreement Affecting Real Property (Attachment No. 6) shall be senior in priority to all instruments securing any non-City sources of funds, with the exception of the existing covenants, SDHC Loan, and San Diego Housing Commission covenants. However, the affordability covenants in the Agreement Affecting Real Property may be subordinated to a lien, encumbrance, or regulatory agreement under a federal or state program as permitted under California Health and Safety Code Section 33334.14.
Sample 1
No Subordination of Affordability Covenants. Notwithstanding anything to the contrary herein or in the DDA, the affordability covenants in the Agreement Affecting Real Property (Attachment No. 7) shall be senior to the security instruments for all Permitted Mortgages, and any other security instrument encumbering the Property, without exception. Method of Financing ATTACHMENT NO. 5
Sample 1
No Subordination of Affordability Covenants. Notwithstanding anything to the contrary herein or in the DDA, the affordability covenants in the Agreement Affecting Real Property (Attachment No. 7) shall be senior to the security instruments for all Permitted Mortgages, and any other security instrument encumbering the Property, without exception, provided that if the Property is converted into condominium units or a vertical subdivision pursuant to Section 512 of the DDA, the such affordability covenants will be modified and/or partially released to be applicable only the Affordable Parcel and the Market Rate Parcel, and not against any Commercial Parcel. ATTACHMENT NO. 5 SCHEDULE OF PERFORMANCE [Attached] Park & Market DDA Attachment No. 5 - Page 1 ATTACHMENT NO. 5
Sample 1

Related to No Subordination of Affordability Covenants

  • Discharge of Non-Members Any employee who fails to maintain his membership in the Union as prescribed herein by reason of refusal to pay dues and assessments shall be subject to discharge after seven (7) days' written notice to the Company of the said employee's refusal to maintain his membership.

  • Compliance with Xxxxx-Xxxxx and Related Act requirements All rulings and interpretations of the Xxxxx-Xxxxx and Related Acts contained in 29 CFR parts 1, 3, and 5 are herein incorporated by reference in this contract.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

  • Agreement to Subordinate The Company agrees, and each Holder by accepting a Note agrees, that the Indebtedness evidenced by the Notes is subordinated in right of payment, to the extent and in the manner provided in this Article 10, to the prior payment in full of all Senior Debt (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed), and that the subordination is for the benefit of the holders of Senior Debt.

  • Termination of Covenants The covenants set forth in this Section 5 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Liquidity Event, as such term is defined in the Restated Certificate, whichever event occurs first.

  • Consent of Securities Regulators to Amendment Except for amendments made under Part 3, the securities regulators with jurisdiction must approve any amendment to this Agreement and will apply mutual reliance principles in reviewing any amendments that are filed with them. Therefore, the consent of the Principal Regulator will evidence the consent of all securities regulators with jurisdiction.

  • CONTINUING COVENANTS The Competitive Supplier agrees and covenants to perform each of the following obligations during the term of this ESA.

  • Discharge of Agreement 7.5.1 If the Developer fails to complete the development after ten (10) years from the date of registration of this Agreement at the Registry of Deeds or Land Registration Office Council may review this Agreement, in whole or in part, and may:

  • XXXXX-XXXXX AND RELATED ACT PROVISIONS This section is applicable to all Federal-aid construction projects exceeding $2,000 and to all related subcontracts and lower-tier subcontracts (regardless of subcontract size). The requirements apply to all projects located within the right-of- way of a roadway that is functionally classified as Federal-aid highway. This excludes roadways functionally classified as local roads or rural minor collectors, which are exempt. Contracting agencies may elect to apply these requirements to other projects. The following provisions are from the U.S. Department of Labor regulations in 29 CFR 5.5 “Contract provisions and related matters” with minor revisions to conform to the FHWA- 1273 format and FHWA program requirements.

  • SPECIAL CONDITIONS ARTICLE I.1 - SUBJECT I.1.1. The subject of the Contract is [short description of subject].

Time is Money Join Law Insider Premium to draft better contracts faster.