Phase II ROFR Term – Post-Tax Compliance Period Sample Clauses

Phase II ROFR Term – Post-Tax Compliance Period. Borrower covenants and agrees that, subject to Section 5.03 above, if the Borrower receives a Bona Fide Offer during the period commencing upon the close of the fifteenth (15th) full year of the compliance period for the federal low-income housing tax credits for the Property (“Tax Credit Compliance Period”) and ending the date which is fifteen (15) years after the close of the Tax Credit Compliance Period (the “Phase II ROFR Term”), which offer the Borrower desires to accept, the County shall have a right of first refusal to purchase the Property (the “Phase II Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04, at the “minimum purchase price” as defined in Section 42(i)(7)(B) of the Code (the “Phase II ROFR Term Purchase Price”). In addition to all other applicable conditions set forth in this Section 5.04:
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Phase II ROFR Term – Post-Tax Compliance Period. Borrower covenants and agrees that, subject to Section 5.03 above, if the Borrower receives a Bona Fide Offer to purchase the Property from a prospective purchaser, other than ARHC or an Affiliate of ARHC, during the period commencing upon the close of the fifteenth (15th) full year of the compliance period for the federal low-income housing tax credits for the Property (“Tax Credit Compliance Period”) and ending the date which is fifteen (15) years after the close of the Tax Credit Compliance Period (the “Phase II ROFR Term”), which offer the Borrower desires to accept, the County shall have a right of first refusal to purchase the Property (the “Phase II Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04, at the lesser of the “minimum purchase price” as defined in Section 42(i)(7)(B) of the Code, or the Bona Fide Offer proposed purchase price which the Borrower desires to accept (the “Phase II ROFR Term Purchase Price”). In addition to all other applicable conditions set forth in this Section 5.04:
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Phase II ROFR Term – Post-Tax Compliance Period. Borrower covenants and agrees that, subject to Section 5.03 above and the RHFFI ROFR Agreement, if the Borrower receives a Bona Fide Offer to purchase the Property from a third party prospective purchaser during the period commencing upon the close of the fifteenth (15th) full year of the compliance period for the federal low-income housing tax credits for the Property (“Tax Credit Compliance Period”) and ending the date which is fifteen (15) years after the close of the Tax Credit Compliance Period (the “Phase II ROFR Term”), which Bona Fide Offer the Borrower desires to accept (with the consent of the Borrower’s Investor Limited Partner to the extent required under the Borrower’s then-governing organizational documents), the County shall have a right of first refusal to purchase the Property (the “Phase II Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04, at the lesser of the “minimum purchase price” as defined in Section 42(i)(7)(B) of the Code, or the Bona Fide Offer proposed purchase price which the Borrower desires to accept (the “Phase II ROFR Term Purchase Price”). In addition to all other applicable conditions set forth in this Section 5.04:
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Related to Phase II ROFR Term – Post-Tax Compliance Period

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