Qualified Owner Clause Samples

Qualified Owner. Each Owner shall take all actions required to continue to be a Qualified Owner during the Term. If at any time during the Term an Owner ceases to be a Qualified Owner, then such Owner shall immediately provide notice thereof to the other Owner and take all actions required to resume being a Qualified Owner.

Qualified Owner. Buyer (i) is, or as of the Closing Date will be, qualified under law to own the Purchased Assets and (ii) has, or as of the Closing Date will have, complied with any necessary governmental bonding requirements required for its ownership of the Purchased Assets.

Qualified Owner. The consummation of the transactions contemplated --------------- hereby will not cause Buyer or the Company to be disqualified as an owner of any federal or state oil, gas and mineral lease or to exceed any acreage limitation imposed by any statute, rule, regulation or order of governmental authority.

Qualified Owner. Buyer: (i) is qualified to own federal and state oil, gas and mineral leases; and (ii) shall comply with all necessary governmental bonding requirements arising from its ownership of the Properties. The consummation of the transactions contemplated hereby will not cause Buyer to be disqualified as an owner of such leases or to exceed any acreage limitation imposed by any statute, rule, regulation or order of governmental authority.

Qualified Owner. Buyer (i) is qualified (or will be qualified as of Closing) to own federal and state oil, gas and mineral leases and oil, gas and mineral leases on tribal and allotted Indian lands in all jurisdictions where any of the Subject Interests are located and (ii) has (or as of Closing will have) complied with all necessary governmental bonding requirements arising from its ownership of the Assets. The consummation of the transactions contemplated hereby will not cause Buyer to be disqualified as an owner of such leases or to exceed any acreage limitation imposed by any Law.

Qualified Owner. Buyer (i) is qualified to own federal and state oil, gas and mineral leases and oil, gas and mineral leases on tribal and allotted Indian lands in all jurisdictions where any of the Subject Interests are located and (ii) has complied with all necessary governmental bonding requirements arising from its ownership of the Assets. The consummation of the transactions contemplated hereby will not cause Buyer to be disqualified as an owner of such leases or to exceed any acreage limitation imposed by any Law.

Qualified Owner. To be eligible to purchase the Unit, the Qualified Owner: a. Must meet the Earned Income Standard or has provided evidence to the Housing Authority that you will be able to meet the Earned Income Standard within the next twelve (12) months; and b. Meet the Minimum Work Requirement or has provided evidence to the Housing Authority that you will be able to meet the Minimum Work Requirement within the next twelve (12) months; and c. Must not own any interest in other Improved Residential Property(s). A purchaser who owns any interest in improved residential real estate must convey all interest in said residential property(s) at or near market value within twelve (12) months of taking initial ownership or transfer of an interest of the Unit; and LC and Business Owners are exempt from this prohibition as provided for in Section XX. d. Must not have a Net Worth that exceeds four (4) times the Initial Sales Price of the Unit; and e. Must meet the income restrictions applicable to the Unit based on the Area Median Income (AMI) and as set forth in the Guidelines to be recorded at time of sale; and f. Shall occupy the Unit as their sole and exclusive primary residence. g. Land Contributor may own Units and make them available via sale or long-term rental to their employees and other Qualified Occupants pursuant to this Covenant without meeting the above-listed requirements. h. Business Owner may purchase the Unit and make them available via sale or long-term rental to their employees and other Qualified Occupants pursuant to this Covenant without meeting the above-listed requirements and shall not occupy or use the Unit for such Owner's own use or leave the Unit vacant for more than three months in any twelve (12) month period. Any occupancy of a Unit pursuant to this Section XX. shall not exceed two persons per bedroom, unless the Housing Authority approves in writing. i. A reasonable accommodation and exception may be requested from Housing Authority for any of these qualifications.

Qualified Owner. To be eligible to purchase the Housing Unit, at least one member of the Household who is an Owner must be a Qualified Employee and meet 3.3.1. a below and all Household members must meet 3.3.1 b- f . below, and as further defined in the Guidelines: 3.3.1. a Meet the Minimum Work Standard physically in the ▇▇▇▇▇▇▇ R-2j School District for the twelve (12) months prior to purchase or provide evidence to the HA that Applicant will meet the Minimum Work Standard physically in the ▇▇▇▇▇▇▇ R-2j School District for the twelve (12) months following the purchase; and 3.3.1. b Must meet the Earned Income Standard or has provided evidence to the HA that Applicant will meet the Earned Income Standard within the next twelve (12) months following the purchase; and 3.3.1. c Must not own any interest in other Improved Residential Property(s) located within a one-hundred and fifty (150) mile radius from the Housing Unit. 3.3.1. d Must not have a Net Worth that exceeds three (3) times the Initial Sales Price of the Housing Unit; and 3.3.1. e Must meet the income restrictions applicable to the Housing Unit based on the Area Median Income (AMI) and as set forth in the Guidelines to be recorded at time of sale; and 3.3.1. f Shall occupy the Housing Unit as their sole and exclusive primary residence.

Qualified Owner. At or prior to the termination of the Transition Agreement, the Company (i) shall be qualified under Law to own the Assets and (ii) will have complied with all necessary governmental bonding requirements required for its ownership of the Assets.