Qualified Members Clause Samples
The 'Qualified Members' clause defines the criteria or standards that individuals or entities must meet to be recognized as members within an organization or under an agreement. Typically, this clause outlines specific qualifications such as professional credentials, experience, or compliance with certain rules, and may require ongoing adherence to these standards to maintain membership status. By clearly establishing who is eligible, the clause ensures that only suitable and vetted individuals participate, thereby maintaining the integrity and quality of the group or organization.
Qualified Members as determined by the Search Committee, who apply shall be placed on the short list and be interviewed for the position.
Qualified Members. Employees of the City of Jacksonville who have elected to participate in the Deferred Retirement Option Program.
Qualified Members. FRAC hereby represents, as of the date hereof, and warrants, covenants and agrees as follows:
(a) During the Qualified Project Period:
(i) not less than 20% of the Spaces in the Park shall be designated as Very Low-Income Spaces and shall be continuously occupied by Very Low- Income members. The monthly carrying charge for one-half of the Very Low- Income Spaces (i.e., 10% of the Spaces) shall be not greater than the lesser of (x) the monthly rent permitted under any lease then in effect and any restrictions under applicable law or (y) the amount calculated as follows:
(A) Where a Very Low-Income Resident is both the registered and legal owner of the mobile home and is not making mortgage payments for the purchase of that mobile home, the total general carrying charge for occupancy of the Space (excluding special or individual carrying charges) shall not exceed 1/12 of 30% of 50% of Median Income for the Area, adjusted for household size. Calculated as a monthly carrying charge which does not exceed the amount produced by (I) beginning with the Median Income for the Area (which figure, as established by the U.S. Department of Housing and Urban Development assumes a four-person household), (II) establishing the number of persons in the Space for purposes of this calculation using the assumed standard household sizes set forth in definitions, Very Low-Income Residents, (III) multiplying by the relevant Family Size Adjustment Factor, (IV) multiplying by 50%, (V) multiplying by 30%, and (VI) dividing by twelve.)
(B) Where a Very Low-Income Resident is the registered owner of the mobile home and is making mortgage payments for the purchase of that mobile home, the total general carrying charge for occupancy of the Space (excluding special or individual carrying charges), shall not exceed 1/12 of 15% of 50% of Median Income for the Area, as adjusted for household size. Calculated as a monthly carrying charge which does not exceed the amount produced by (I) beginning with the Median Income for the Area (which figure, as established by the U.S. Department of Housing and Urban Development assumes a four-person household), (Il) establishing the number of persons in the Space for purposes of this calculation using the assumed standard household sizes set forth in definitions, Very Low-Income Residents, (III) multiplying by the relevant Family Size Adjustment Factor, (IV) multiplying by 50%, (V) multiplying by 15%, and (VI) dividing by twelve.) The monthly general car...