Direct Subsidy definition

Direct Subsidy means the amount funded by the Bank, in association with its AHP as prescribed by the applicable rules and regulations of the Federal Housing Finance Agency (FHFA), for the benefit of the prospective Owner and for the purpose of assisting such Owner in the purchase, construction, or rehabilitation of the property.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Direct Subsidy means the amount funded by the Bank for the benefit of Owner, for the purpose of assisting Owner in the purchase, construction, or purchase in conjunction with rehabilitation of the Property, which Direct Subsidy shall not exceed $ {insert AMOUNT OF DIRECT SUBSIDY}.

Direct Subsidy means the granting of revenue by the Government—

Examples of Direct Subsidy in a sentence

The Medicare Part D baseline for the Part D Direct Subsidy will be set at the Part D national average monthly bid amount (NAMBA) for the calendar year.
Subject to the terms and conditions set forth herein and in the AHP Documents, the Bank agrees to provide the Direct Subsidy or a portion thereof to Member upon the receipt of a completed AHP Funding Manual along with any other required documentation from Member.
If Member loses its membership in the Bank, the Bank may disburse the Direct Subsidy to a member of the Bank to which Member has transferred its obligations under the Application, or the Bank may disburse the Direct Subsidy through another FHLB to a member of that FHLB that has assumed Member’s obligations under the Application.
Should the Engineer consider the Contractor in default of the Contract for any reason above, the Engineer shall immediately give written notice to the Contractor and the Contractor’s surety as to the reasons for considering the Contractor in default and the Owner’s intentions to terminate the Contract..
The total amount of the Direct Subsidy shall not exceed $«Direct_Sub».
The Bank shall be repaid the lesser of: the AHP subsidy amount equal to the Direct Subsidy, reduced by 1/60 for every month the Lessee/Grantor owned the Property; or any net proceeds from the sale, transfer, or assignment of title or lease of the unit, or the refinancing, as applicable, minus the AHP-assisted household’s investment.
By agreeing to this Agreement through submission of a Secure Portal Workspace Set-up Request or by entering into a Direct Subsidy Agreement in conjunction with an AHP application, as applicable, the applicable Member or Sponsor agrees that (i) the Bank has ultimate discretion and authority as to the approval and rejection of all AHP subsidies and (ii) the interpretation and implementation of scoring criteria and financial standards shall be subject to the Bank’s sole discretion.
This instrument and the lease addendum restrictions contained herein shall be deemed released and discharged on the earlier to occur of (i) the Termination Date, or (ii) the date on which the Direct Subsidy is repaid prior to the Termination Date under Sections 3, 4, or 5 hereof.
Direct Services Direct Subsidy Other (specify) CONTRACTORS TO THE CITY OF PALO ALTO (CITY), AT THEIR SOLE EXPENSE, SHALL FOR THE TERM OF THE CONTRACT OBTAIN AND MAINTAIN INSURANCE IN THE AMOUNTS FOR THE COVERAGE SPECIFIED BELOW, AFFORDED BY COMPANIES WITH AM BEST’S KEY RATING OF A-:VII, OR HIGHER, AUTHORIZED TO TRANSACT INSURANCE BUSINESS IN THE STATE OF CALIFORNIA.
Provided, however, that only any Series of Bonds issued pursuant to this Article II as Direct Subsidy Bonds shall have the additional security of the Direct Pay Subsidies received by the Issuer with respect to that particular Series.

More Definitions of Direct Subsidy

Direct Subsidy means the amount funded by the Bank, in association with its AHP as prescribed by the applicable rules and regulations of the Federal Housing Finance Agency (“FHFA”), for the benefit of the prospective Lessee/Grantor and for the purpose of assisting such Lessee/Grantor for purchase, for purchase in conjunction with rehabilitation, or for construction of the Property as permitted by the applicable AHP program.

Direct Subsidy means a direct cash payment, provided that if a Direct Subsidy is provided to a project to reduce the interest rate on a loan extended by Member, Project Sponsor or other party to the Project, the Direct Subsidy shall equal the net present value of the interest foregone from making the loan below the lender’s market interest rate (calculated as of the date the Application was submitted to the Bank and subject to adjustment under Section 8.3 below and at a rate equal to the lender’s market interest rate).