Qualified project definition
Examples of Qualified project in a sentence
On or before the commencement of the Qualified Project Period, Borrower shall submit to County for its written approval a standard form of residential lease to be used for leasing of the Project (the “Standard Lease”).
During the Qualified Project Period, the Borrower shall submit the Annual Statement and any payment to the County not later than six (6) months after closing of the Borrower’s previous year’s books.
The Annual Fee will be due each subsequent year for the Qualified Project Period on or within thirty (30) days of the day and month that this Agreement was entered into as set forth on page one hereof.
Except with the prior consent of the County, during the Qualified Project Period, Borrower shall not remove, demolish or materially alter any improvement constituting the Project, except to make non-structural repairs which preserve or increase the Project’s value, and shall promptly restore, in good and workmanlike manner, any said improvement (or other aspect of the Project) that is damaged or destroyed from any cause.
With respect to those Restricted Units subject to the rental restrictions described above, during the Qualified Project Period the Borrower will comply with the Qualified Tenant certifications and recertifications in the same manner as prescribed under the Regulatory Agreement.