Eligible Tenant definition
Eligible Tenant means, as of any date of determination, a bona fide third party lessee of a Property who satisfies each of the following criteria:
Eligible Tenant means a tenant that:
Eligible Tenant means persons whose Annualized Gross Income (as computed at the time of application of such person or family for residence in such Unit) from whatever sources derived and before taxes and withholdings utilizing the Section 8 definition of income, does not exceed 60% of the HUD-specified Area Median Family Income.
Examples of Eligible Tenant in a sentence
No Borrower shall enter into any Lease (including any renewal or extension of any existing Lease) with respect to any Property unless such Lease is an Eligible Lease with an Eligible Tenant.
More Definitions of Eligible Tenant
Eligible Tenant means the current tenant of the unit, so long as that tenant is eligible to occupy the unit under the requirements of Section 42 of the Internal Revenue Code. This expressly includes a tenant whose income would not currently qualify under Section 42, but who was qualified at the time of the tenant’s original occupancy of the unit.
Eligible Tenant means a bona fide third-party lessee of a Property who satisfies each of the following criteria:
Eligible Tenant means a tenant or tenants of an Affordable Unit whose collective annual before-tax income does not exceed the most current Housing Income Limits, as amended from time to time, published by British Columbia Housing Management Commission or its successors in function that is in effect at the time the Eligible Tenant takes occupancy of the Affordable Unit;
Eligible Tenant means a Tenant who meets all the qualifications set out in Schedule B;
Eligible Tenant means, at as any date of determination, a bona fide third party lessee of a Property who satisfies each of the following criteria, as certified by the Borrowers in the most recent Compliance Certificate delivered prior to such date of determination:
Eligible Tenant means a Tenant with respect to an Unencumbered Property Lease which (i) is not in arrears on any required rental payments, payments of real property taxes or payments of premiums on insurance policies with respect to its lease beyond the later of (a) the applicable grace period with respect thereto, if any, and (b) sixty (60) days; and (ii) is not subject to a then-continuing Bankruptcy Event (unless (x) such Tenant continues to make all required rental payments, payments of real property taxes and payments of premiums on insurance policies with respect to its lease or (y) another Tenant has assumed the applicable Unencumbered Property Lease).
Eligible Tenant means a Tenant who, at the time he or she enters into a Tenancy Agreement, has a gross household income equal to or less than the Housing Income Limits;