Shared Equity definition

Shared Equity means Intermediate Housing where the purchaser acquires an Affordable Housing Unit in part with a conventional mortgage (usually up to 75% of the Dwelling’s Market Value including deposit) from a lender offering mortgages for residential property purchase together with an equity loan provided by the Registered Provider or Owner as applicable for the balance of the Market Value in accordance with a detailed scheme to be agreed with the Council prior to commencement of construction of any Affordable Housing Unit intended for sale on such terms;
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Shared Equity means an Intermediate Affordable Housing product that has a minimum 20% discount to open market value;
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Shared Equity means Affordable Housing Units made available as units for sale to Qualifying Purchasers where an RSL or the Council as the local Housing Authority or the Affordable Housing Proprietor retains a minority financial share in the units under the terms of a shared equity agreement and the terms "Shared Equity Affordable Housing" and "Shared Equity Affordable Housing Units" shall be construed accordingly;
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Examples of Shared Equity in a sentence

  • Although the Incentive is interest free, because the Homeowner will have to pay more (or less) than the Incentive back to the Program Administrator if the Original Home Value increases (or decreases), the APR calculations below are meant to illustrate how much it will cost a Homeowner to agree to the terms of the Incentive and the Shared Equity Mortgage, expressed as an annual rate.

  • The Homeowner must repay the Incentive in full plus the Shared Equity Amount on the date that is no later than 25 years from the Date of Advance.

  • The Shared Equity Mortgage constitutes a continuous and permanent charge against the Property to secure the payment of all present and future liabilities and obligations owed by the Homeowner to the Program Administrator.

  • If the Shared Equity Mortgage is granted by the Homeowner less than 2 business days after the date of this Agreement, the Homeowner agrees to receive the cost of borrowing disclosure set out in this Agreement at the time this Agreement is entered.

  • The terms of the Shared Equity Mortgage are incorporated and form part of this Agreement.

  • The Program Administrator may exercise all of its recourses provided by law, this Agreement or the Shared Equity Mortgage in order to recover the outstanding amounts owed to it by the Homeowner.

  • Certain customary costs and expenses incurred relating to your Shared Equity Mortgage by the Program Administrator to administer, monitor and enforce the Shared Equity Mortgage will be payable by the Home Buyer, subject to applicable law.

  • Any periodic statements and other documents or notices relating to this Agreement and the Shared Equity Mortgage to the Homeowners will be delivered to the Homeowners at the address of the Property or by any means that the Program Administrator may, at its discretion, use.

  • Shared Equity Transfer - it should be noted restrictions on the level of equity that could be purchased should not be limited in areas where right to buy legislation does not apply.

  • This schedule can also be modified to reflect Shared Equity affordable housing.


More Definitions of Shared Equity

Shared Equity in affordable housing means a sharing of appreciation and equity between a seller and the community accomplished through contracts. Shared equity models seek to balance the individual household’s interest in building
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Shared Equity means a type of Intermediate Housing scheme provided by a Registered Provider where the purchaser buys a freehold or long leasehold interest in an Affordable Housing Unit at no more than 80% of Local Market Values with the remaining share held by the Registered Provider subject to a legal charge to protect the discounted share, if required by the Registered Provider, and with no rent or interest charge payable by the occupier on the remaining share owned by the Registered Provider or with such variation as may be approved by the Council.
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Shared Equity. A means of helping people into home ownership. The buyer purchases a share of their home, with the remaining share being held by another party, usually a housing association. The other party will redeem their share when the home is sold. SHLAA: Strategic Housing Land Availability Assessment. SHMA: Strategic Housing Market Assessment SME: Small-Medium-Enterprises Social rented housing: Decent homes provided to rent at below market cost for households in need by Local Authorities or Registered Social Landlords (RSLs). Supporting People: Supporting People is a partnership programme that was set up in April 2003 to fund, commission and monitor the quality of existing housing-related support services for vulnerable adults now absorbed into Adult Care Services. Sustainable communities: Places where people want to live and work, now and in the future. They meet the diverse need of existing and future residents, are sensitive to the environment, and contribute to a high quality of life. They are safe, inclusive, well planned, built and run, and offer equality of opportunity and good services for all. Under-occupation: An under-occupied dwelling is one which exceeds the bedroom standard by two or more bedrooms. .
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Shared Equity means the transfer of a proportion of the freehold interest in the Affordable Housing Unit any such sale to be a proportion of not more than 80% of the freehold valuation of the Affordable Housing Unit from time to time such that the Property is owned jointly by the Owner and one or more of the occupiers.
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Shared Equity means those Affordable Housing units where a share of the value of the interest is available for purchase on a leasehold basis and this share can be increased during the term of the leasehold interest whilst the Registered Provider owns the remaining share of the value of the interest on which rent can be charged;
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Related to Shared Equity

  • Adjusted Equity means the Equity funded in Indian Rupees and adjusted on the first day of the current month (the “Reference Date”), in the manner set forth below, to reflect the change in its value on account of depreciation and variations in WPI, and for any Reference Date occurring:

  • Preferred Equity means, with respect to any Person, Equity Interests in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

  • Transferred Equity means the equity interest in the Company which the WFOE has the right to request either of the Company Shareholders to transfer to it or its designated entity or individual in accordance with Article 3 hereof when the WFOE exercises its Equity Transfer Option, the quantity of which may be all or part of the Option Equity and the specific amount of which shall be determined by the WFOE at its sole discretion in accordance with the then-effective PRC Law and based on its commercial consideration.

  • Excluded Equity means any Voting Stock in excess of 66% of the total outstanding Voting Stock of any direct Subsidiary of any Grantor that is a Non-U.S. Person. For the purposes of this definition, “Voting Stock” means, as to any issuer, the issued and outstanding shares of each class of capital stock or other ownership interests of such issuer entitled to vote (within the meaning of Treasury Regulations § 1.956-2(c)(2)).

  • Preferred Equity Interest in any Person, means an Equity Interest of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Equity Interests of any other class in such Person.

  • Preferred Equity Interests means, with respect to any Person, Equity Interests in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

  • Excluded Equity Interests means (a) any Equity Interests with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the cost or other consequences of pledging such Equity Interests in favor of the Secured Parties under the Security Documents shall be excessive in view of the benefits to be obtained by the Secured Parties therefrom, (b) solely in the case of any pledge of Equity Interests of any Foreign Subsidiary or FSHCO (in each case, that is owned directly by the Borrower or a Guarantor) to secure the Obligations, any Equity Interest that is Voting Stock of such Foreign Subsidiary or FSHCO in excess of 65% of the Voting Stock of such Subsidiary, (c) any Equity Interests to the extent the pledge thereof would be prohibited by any Requirement of Law, (d) in the case of (i) any Equity Interests of any Subsidiary to the extent the pledge of such Equity Interests is prohibited by Contractual Requirements existing on the Closing Date or at the time such Subsidiary is acquired (provided that such Contractual Requirements have not been entered into in contemplation of such Subsidiary being acquired), or (ii) any Equity Interests of any Subsidiary that is not a Wholly owned Subsidiary at the time such Subsidiary becomes a Subsidiary, any Equity Interests of each such Subsidiary described in clause (i) or (ii) to the extent (A) that a pledge thereof to secure the Obligations is prohibited by any applicable Contractual Requirement (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable Requirements of Law), (B) any Contractual Requirement prohibits such a pledge without the consent of any other party; provided that this clause (B) shall not apply if (1) such other party is a Credit Party or a Wholly owned Subsidiary or (2) consent has been obtained to consummate such pledge (it being understood that the foregoing shall not be deemed to obligate the Borrower or any Subsidiary to obtain any such consent)) and only for so long as such Contractual Requirement or replacement or renewal thereof is in effect, or (C) a pledge thereof to secure the Obligations would give any other party (other than a Credit Party or a Wholly owned Subsidiary) to any Contractual Requirement governing such Equity Interests the right to terminate its obligations thereunder (other than customary non-assignment provisions that are ineffective under the Uniform Commercial Code or other applicable Requirement of Law), (e) the Equity Interests of any Immaterial Subsidiary (unless a security interest in the Equity Interests of such Subsidiary may be perfected by filing an “all assets” UCC financing statement) and any Unrestricted Subsidiary, (f) the Equity Interests of any Subsidiary of a Foreign Subsidiary or FSHCO, (g) any Equity Interests of any Subsidiary to the extent that the pledge of such Equity Interests would result in material adverse tax consequences to the Borrower or any Subsidiary as reasonably determined by the Borrower, (h) any Equity Interests set forth on Schedule 1.1(b) which have been identified on or prior to the Closing Date in writing to the Administrative Agent by an Authorized Officer of the Borrower and agreed to by the Administrative Agent and (i) Margin Stock.

  • Qualified Equity Interests means any Equity Interests that are not Disqualified Equity Interests.

  • Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

  • Consolidated Equity means and refers to, as of the end of any period of determination, the sum, without duplication, of (i) Consolidated Tangible Net Worth of HDFS, (ii) preferred stock and (iii) Subordinated Indebtedness.

  • Permitted Equity Interests means common stock of the Borrower that after its issuance is not subject to any agreement between the holder of such common stock and the Borrower where the Borrower is required to purchase, redeem, retire, acquire, cancel or terminate any such common stock.

  • Qualified Equity Interest means and refers to any Equity Interests issued by Parent (and not by one or more of its Subsidiaries) that is not a Disqualified Equity Interest.

  • Disqualified Equity Interests means any Equity Interest that, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 180 days after the Maturity Date.

  • Qualified Equity Financing means the first sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale or series of related sales).

  • Qualifying Equity Interests means Equity Interests of the Company other than Disqualified Stock.

  • Specified Equity Contribution has the meaning specified in Section 8.04.

  • Disqualified Equity Interest means, with respect to any Person, any Equity Interest in such Person that by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable, either mandatorily or at the option of the holder thereof), or upon the happening of any event or condition:

  • Pledged Equity Interests means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and Pledged Trust Interests.

  • Existing Equity Interests means any Equity Security, including all issued, unissued, authorized, or outstanding shares of capital stock and any other common stock, preferred stock, limited liability company interests, and any other equity, ownership, or profit interests of Mariposa Intermediate, including all options, warrants, rights, stock appreciation rights, phantom stock rights, restricted stock units, redemption rights, repurchase rights, convertible, exercisable, or exchangeable securities, or other agreements, arrangements, or commitments of any character relating to, or whose value is related to, any such interest or other ownership interest in Mariposa Intermediate, whether or not arising under or in connection with any employment agreement and whether or not certificated, transferable, preferred, common, voting, or denominated “stock” or a similar security.

  • Pledged Equity Interest means an Equity Interest that is included in the Collateral at such time.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Company-Sponsored Equity Account means an account that is created with the Equity Account Administrator in connection with the administration of the Company’s equity plans and programs, including the Plan.

  • Hybrid Equity Securities means securities issued by Borrower or any subsidiary that (a) are classified as possessing a minimum of (i) “intermediate equity content” by S&P and (ii) “Basket C equity credit” by Moody’s and (b) do not contain any scheduled principal payments or prepayments or any mandatory redemptions or mandatory repurchases prior to the date that is at least 91 days after the latest applicable Maturity Date.

  • Pre-Closing Tax Return has the meaning set forth in Section 7.1(a).

  • Acquisition Debt means any Indebtedness incurred by the Borrower or any of its Subsidiaries for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Borrower, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds of such Indebtedness to the Borrower and/or its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Borrower and/or its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).