Extended Use Commitment definition

Extended Use Commitment means the agreement between the Partnership and the Agency, which is intended to meet the definition of a "long term commitment to low-income housing" as required by Section 42(h)(6) of the Code and the requirements of the Agency's Low-Income Housing Tax Credit Program.

Examples of Extended Use Commitment in a sentence

  • If a buyer cannot be located within one year, the Extended Use Commitment will terminate.

  • A copy of Board Declaration of Land Use Restrictive Covenants for Low Income Housing Credits (Extended Use Commitment).

  • The Extended Use Commitment must be completed and recorded before the end of the first credit period to preserve the tax credits allocated to the project.

  • Extended Use Restriction By making this election, this rental project will be subject to an Extended Use Commitment for a minimum of ten (10) years beyond the mandatory HOME and Housing Tax Credit affordability periods.

  • Applicants claiming points for Tenant Ownership are not allowed to claim points for Extended Use Commitment.

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  • Applicants claiming points for an Extended Use Commitment may not claim points for Tenant Ownership.

  • If a buyer cannot be located within one year, the extended use commitment Extended Use Commitment will terminate.

  • Extended Use Restriction: By Marking this election, this project/program will be subject to an Extended Use Commitment for a minimum of ten (10) years beyond the mandatory HOF affordability period.

  • The applicant will not be able to request SDHDA to find a buyer for the low income portion of the property until sometime after the 39th year of the compliance period.Applicants claiming points for Extended Use Commitment may not claim points for Tenant Ownership.

Related to Extended Use Commitment

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Service commitment area means a medically underserved Iowa city with a population of less than 26,000 that is located more than 20 miles from a city with a population of 50,000 or more. Each applicant participating in the program must contract with the service commitment area to ensure the service commitment area provides a nonrefundable $2,000 contribution for deposit in the rural Iowa advanced registered nurse practitioner and physician assistant trust fund. Payment of the nonrefundable contribution to the trust fund can be made by, but is not limited to, the following organizations: community agencies, hospitals, medical groups, municipalities, community foundations, local government entities, or other community entities. Locations and distances between cities will be consistently measured and verified by calculating the straight-line distance between main post offices.

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 or 9.02(c)(i).

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Commitment Increase Agreement has the meaning assigned to such term in Section 2.20.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Delayed Draw Commitment means, as to each Lender, its obligation to make Delayed Draw Loans to the Borrower pursuant to Section 2.01(b) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01(b) under the caption “Delayed Draw Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate Delayed Draw Commitments of all of the Lenders on the Closing Date shall be $150,000,000.

  • Real-Time Commitment means NYISO’s multi-period security constrained unit commitment and dispatch model, as defined in the NYISO Tariffs.

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Total Revolving Commitments at any time, the aggregate amount of the Revolving Commitments then in effect.

  • Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount not to exceed the amount set forth opposite such Term Lender’s name in Schedule 1.01A under the caption “Initial Term Commitment.” The initial aggregate principal amount of the Initial Term Commitments as of the Closing Date was $2,670,000,000.

  • Additional Commitment means any commitment hereunder added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Loan Commitment has the meaning set forth in Section 2.1.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).