VHDA definition
Examples of VHDA in a sentence
The calculation of Excess Proceeds shall be made on the date that VHDA issues the Borrower’s United States Department of the Treasury Internal Revenue Service Low-Income Housing Credit Allocation and Certification (Form 8609).
VHDA, at its election at any time prior to termination of the Lease, may revoke any notice of ▇▇▇▇▇▇’s vacation of the Premises and termination of the Lease or any notice of ▇▇▇▇▇▇’s intention to do so.
The Borrower shall submit to the County Manager or his written designee the same requisition package that the Borrower submits for disbursements under the VHDA Gap Loan and Senior Lender Loan.
Excess Proceeds shall not be distributed until the VHDA Gap Loan has been fully repaid.
Borrower covenants and agrees that it shall not incur any debt, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than the (a) AHIF Loan, (b) Senior Lender Loan, (c) VHDA Gap Loan, (d) Subordinate Lender Loan, and (e) advances or trade debt or accrued expenses incurred in the ordinary course of business of operating the Property.
The calculation of Excess Proceeds shall be made on the date that VHDA issues the Borrower’s United States Department of the Treasury Internal Revenue Service Low- Income Housing Credit Allocation and Certification (Form 8609).
Any proceeds to be applied to the repair, demolition or restoration of the Property shall be held by VHDA and disbursed in the manner provided in its Leasehold Mortgage (or, if not so provided, in such manner as VHDA shall reasonably determine) for the payment of the costs of such repair or restoration.
Upon a Foreclosure by VHDA, notwithstanding anything contained in Section 7.02 of the Lease or anywhere else in the Lease to the contrary, Tenant, at its option and without the consent of Landlord, shall have the unlimited and unrestricted right, at any time and from time to time, at ▇▇▇▇▇▇’s own expense, to negotiate and obtain one or more loans secured by Mortgages on all or any part of Tenant’s Leasehold Estate in the Premises.
If Tenant gives notice to Landlord of its vacation of the Premises and termination of the Lease, or its intention to do any of the foregoing, Landlord shall notify VHDA within ten (10) business days, by registered or certified mail postage prepaid, return receipt requested, in order that VHDA, at its election, may revoke any such notice to Landlord, on behalf of Tenant, prior to termination of the Lease.
In the event of termination of the Lease for any reason prior to its stated Expiration Date, Landlord will give VHDA notice of such termination within ten (10) business days after such termination.