Authority Consideration of Requested Transfer Sample Clauses

Authority Consideration of Requested Transfer. As to each Project, Authority agrees that it will not unreasonably withhold approval of a request for an assignment or transfer made pursuant to this Section 704.3, provided (a) Developer delivers written notice to Authority requesting such approval, (b) the proposed assignee or transferee possesses a reasonable level of operational experience and capability with respect to the operation of similar first quality affordable rental housing projects in Southern California, (c) the proposed assignee or transferee possesses a reasonable level of net worth and resources as necessary to develop, operate, and manage the applicable Project, and (d) the assignee(s) or transferee(s) completely and fully assume(s) the obligations of Developer under this Agreement pursuant to an assignment and assumption agreement(s) in a form which is reasonably acceptable to Authority and its legal counsel(s). Such notice shall be accompanied by evidence regarding the proposed assignee’s or purchaser’s qualifications and experience and its financial commitments and resources sufficient to enable Authority to evaluate the proposed assignee or purchaser pursuant to the criteria set forth in this Section 704.3 and other criteria as reasonably determined by Authority. Authority shall approve or disapprove the request within thirty (30) days of its receipt of Developer’s notice and submittal of complete information and materials required herein. Authority approval shall not be required for transfers or assignments for Authority approved financing purposes including foreclosure or deed in lieu of foreclosure; provided, there shall be no deemed approval of a transfer or assignment for financing that will increase the outstanding principal amount of or extend the term of a monetary lien against the Manchester Site or Orangewood Site, as applicable. In no event, however, shall Authority be obligated to approve the assignment or transfer of the Ground Lease, Regulatory Agreement, City Covenants, or REA pursuant to this Section 704.3 (as to the applicable Project), except to an approved transferee or assignee of Developer’s rights in and to the Site (as to an applicable Project), based on Authority’s reasonable determination that such transferee or assignee has the experience, financial strength, knowledge, and overall capability to own, operate and manage the applicable Project in accordance with the terms, conditions, and restrictions contained in this Agreement. In addition, Authority shall ...
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Authority Consideration of Requested Transfer. 803.1 Notice; Consideration of Transfer. Should Developer desire to enter into an Transfer, Developer shall provide Notice of the proposed Transfer at least thirty (30) days before the intended effective date of the proposed Transfer, which request shall include the following: (a) the effective date, terms and conditions of the proposed Transfer, (b) detailed financial information regarding the proposed transferee, including balance sheets and income statements for the current year-to- date and the two previous years, (c) a description of the previous business experience of the proposed transferee, particularly the experience in constructing similar projects, (d) a complete business plan prepared by the proposed transferee, and (e) any further information relevant to the proposed Transfer which Authority shall reasonably request. Within thirty (30) days after the later of (i) Authority’s receipt of Developer’s Notice, and (ii) Authority’s receipt of all of the information set forth in (a) through (e) above (hereinafter, the “Review Period”), Authority may elect either to: (aa) consent to the proposed Transfer; or (bb) deny such consent, provided that any denial shall specify in reasonable detail the reasons for such denial. An assignment and assumption agreement in form satisfactory to Authority’s legal counsel shall also be required for all proposed Transfers under this Section.
Sample 1
Authority Consideration of Requested Transfer. Authority agrees that it will not unreasonably withhold, condition, or delay approval of a request for approval of a Transfer made pursuant to this Section 1216 et seq., provided Developer delivers written notice to Authority requesting such approval and includes the proposed assignment and assumption contract and all necessary and relevant background and experience information related to the proposed transferee. An assignment and assumption agreement in form satisfactory to Authority’s legal counsel shall be required for each proposed Transfer. Within fifteen (15) days after the receipt of Developer’s written notice requesting Authority approval of a Transfer pursuant to this Section 1216 et seq., Authority shall either approve or disapprove such proposed assignment or shall respond in writing by stating what further information, if any, Authority reasonably requires in order to determine the request complete and determine whether or not to grant the requested approval. Upon receipt of such a response, Developer shall promptly furnish to Authority such further information as may be reasonably requested.
Sample 1
Authority Consideration of Requested Transfer. Authority agrees that it will not unreasonably withhold approval of a request for an assignment or transfer made pursuant to this Section 604, provided (a) Developer delivers written notice to Authority requesting such approval, and (b) the proposed assignee or transferee possesses a reasonable level of operational experience and capability with respect to the operation of similar types of affordable housing rental property, and a reasonable level of net worth and resources as necessary to develop, operate, and manage the Apartment Complex, and (c) the assignee or transferee assumes the obligations of Developer under this Agreement in a form which is reasonably acceptable to Authority. Such notice shall be accompanied by evidence regarding the proposed assignee’s or purchaser’s qualifications and experience and its financial commitments and resources sufficient to enable Authority to evaluate the proposed assignee or purchaser pursuant to the criteria set forth in this Section 604.3 and other criteria as reasonably determined by Authority. Authority shall approve or disapprove the request within thirty (30) days of its receipt of Developer’s notice and all information and materials required herein. In no event, however, shall Authority be obligated to approve the assignment or transfer of Authority Loan, Promissory Note or Deed of Trust pursuant to this Section 604.3, except to an approved transferee or assignee of Developer’s rights in and to the Site.
Sample 1

Related to Authority Consideration of Requested Transfer

  • Can I Roll Over or Transfer Amounts from Other IRAs You are allowed to “roll over” a distribution or transfer your assets from one Xxxx XXX to another without any tax liability. Rollovers between Xxxx IRAs are permitted every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. If you are single, head of household or married filing jointly, you may convert amounts from another individual retirement plan (such as a Traditional IRA) to a Xxxx XXX, there are no AGI restrictions. Mandatory required minimum distributions from Traditional IRAs, must be removed from the Traditional IRA prior to conversion. Rollover amounts (except to the extent they represent non-deductible contributions) are includable in your income and subject to tax in the year of the conversion, but such amounts are not subject to the 10% penalty tax. However, if an amount rolled over from a Traditional IRA is distributed from the Xxxx XXX before the end of the five-tax-year period that begins with the first day of the tax year in which the rollover is made, a 10% penalty tax will apply. Effective in the tax year 2008, assets may be directly rolled over (converted) from a 401(k) Plan, 403(b) Plan or a governmental 457 Plan to a Xxxx XXX. Subject to the foregoing limits, you may also directly convert a Traditional IRA to a Xxxx XXX with similar tax results. Furthermore, if you have made contributions to a Traditional IRA during the year in excess of the deductible limit, you may convert those non-deductible IRA contributions to contributions to a Xxxx XXX (assuming that you otherwise qualify to make a Xxxx XXX contribution for the year and subject to the contribution limit for a Xxxx XXX). You must report a rollover or conversion from a Traditional IRA to a Xxxx XXX by filing Form 8606 as an attachment to your federal income tax return. Beginning in 2006, you may roll over amounts from a “designated Xxxx XXX account” established under a qualified retirement plan. Xxxx XXX, Xxxx 401(k) or Xxxx 403(b) assets may only be rolled over either to another designated Xxxx Qualified account or to a Xxxx XXX. Upon distribution of employer sponsored plans the participant may roll designated Xxxx assets into a Xxxx XXX but not into a Traditional IRA. In addition, Xxxx assets cannot be rolled into a Profit-Sharing-only plan or pretax deferral-only 401(k) plan. In the event of your death, the designated beneficiary of your Xxxx 401(k) or Xxxx 403(b) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary Xxxx XXX account. Strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing any type of rollover.

  • Security Constrained Unit Commitment Adjustments The NTO shall coordinate with its ITO(s) as applicable regarding any request for commitment of additional Generators. If, following coordination among the NTO and its ITO(s), an additional resource(s) needs to be committed to ensure local area reliability, the NTO, or the ITO(s) at the NTO’s request, may request commitment of additional Generators (including specific output level(s)). The ISO will use Supplemental Resource Evaluation (“SRE”), pursuant to ISO Tariffs and ISO Procedures, to fulfill a request from the NTO or ITO(s), as appropriate, for additional units.

  • Priority consideration If the Contract Amount is $200,000 or more, Contractor shall give priority consideration in filling vacancies in positions funded by this Agreement to qualified recipients of aid under Welfare and Institutions Code section 11200 in accordance with PCC 10353.

  • Transfer Cancellation Requests and Refused Transfers You may cancel a transfer at any time until it begins processing (as shown in the Service). We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Account that we debited for the funds transfer. If this is unsuccessful (for example, the Eligible Transaction Account has been closed) we will make reasonable attempts to otherwise return the funds to you.

  • Notification of the Amount of Fair Share Fee Notice of the amount of the annual fair share fee, which shall not be more than 100% of the unified dues of the employee organization, shall be transmitted by the employee organization to the Board Treasurer on or about September 15 of each year during the term of this Agreement for the purpose of determining amounts to be payroll-deducted, and the Board agrees to promptly transmit all amounts deducted to the employee organization.

  • RISK CONSIDERATION There are no significant risks associated with the recommendations contained within this report. This application may be considered under existing MPS policies. Community Council has the discretion to make decisions that are consistent with the MPS, and such decisions may be appealed to the N.S. Utility and Review Board. Information concerning risks and other implications of adopting the proposed development agreement are contained within the Discussion section of this report. ENVIRONMENTAL IMPLICATIONS No environmental implications are identified.

  • CONDITIONS APPLICABLE PENDING TRANSFER As has already been referred to in this agreement, the common property will be owned and controlled by a body corporate for and on behalf of all owners including the purchaser. As the body corporate will only be established once the first transfer of a unit in the development has occurred, the Seller shall from the completion date and until the date of the establishment of the body corporate bear the rights and obligations of the body corporate. In this regard, during the period from the completion date until date of transfer, the following conditions shall apply:

  • Condition Precedent to Requesting Payment Grantee will disburse program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting cash payments including any advance payments from the System Agency.

  • Can I Roll Over or Transfer Amounts from Another Xxxxxxxxx Education Savings Account? Amounts may be “rolled over” from one Xxxxxxxxx Education Savings Account to another Xxxxxxxxx Education Savings Account benefiting the same beneficiary. In addition, amounts may be rolled over without any tax liability to benefit a member of the family, as defined in paragraph 2, of the beneficiary, provided that they have not attained age 30 at the time of the rollover. Rollovers between Xxxxxxxxx Education Savings Accounts may be made once per year and must be accomplished within 60 days after the distribution. 529 Plans cannot be transferred or rolled over into a Xxxxxxxxx Education Savings Account.

  • Additional Consideration Retrocessionaire agrees to pay under the Inuring Retrocessions all future premiums Retrocedant is obligated to pay pursuant to the terms of the Inuring Retrocessions to the extent that such premiums are allocable to Retrocessionaire in the manner set forth in Exhibit E hereto, and not otherwise paid by Retrocessionaire and to indemnify Retrocedant for all such premiums paid directly by Retrocedant, net of any ceding commissions and similar amounts paid by Third Party Retrocessionaires to Retrocedant.

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