Contract Rents definition

Contract Rents means the total Contract Rents (as defined by the U.S. Department of Housing and Urban Development in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 1937, as amended) received in connection with the operation of a housing project during an agreed annual period, exclusive of Utilities.
Sample 1Sample 2Sample 3
Contract Rents is defined in Section 2(b) of the Assignment of Lease and Rent.
Sample 1Sample 2Sample 3
Contract Rents means the total Contract Rents (as defined by the U.S. Department of Housing and Urban Development in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 1937, as amended) received in connection with the operation of a housing project during an agreed annual period, exclusive of Utilities. [Delete this definition if the project does NOT receive project-based Section 8 rental subsidy]
Sample 1Sample 2Sample 3

Examples of Contract Rents in a sentence

  • Contract Rents, if applicable, will be used as the Pro Forma Rent.

  • Contract Rents will be adjusted as pro- vided in paragraphs (a) (1) and (2) of this section upon submittal to the PHA by the Owner of a revised schedule of Contract Rents, provided that the unit is in decent, safe, and sanitary condi- tion and that the Owner is otherwise in compliance with the terms of the Lease and Contract.

  • On or after each annual an- niversary date of the Contract, the Contract Rents may be adjusted in ac- cordance with HUD procedures, effec- tive for the month following the sub- mittal by the Owner of a revised sched- ule of Contract Rents.

  • Adjusted Contract Rents must then be examined in accordance with paragraph (b) of this section and may be adjusted accordingly.

  • However, if the amounts borrowed to finance the rehabilitation costs or to finance pur- chase of the property are subject to a variable rate or are otherwise renego- tiable, Contract Rents may be adjusted in accordance with other procedures as prescribed by HUD, and specified in the Contract, provided that the adjusted Contract Rents cannot exceed the rents established by multiplying the Annual Adjustment Factor by the Contract Rents.

  • The PHA must then establish the Contract Rents as provided in§ 882.408 which will be subject to reduc- tion based on a post audit.

  • When the actual relocation pay- ments made by the Owner to tempo- rarily relocated Families varies from the cost estimated in the calculation of Contract Rents for the Agreement.

  • Contract Rents may be adjusted upward or downward, as may be appropriate.

  • If other deficiencies exist, the PHA must determine whether and to what extent the deficiencies are cor- rectable, and whether the Contract Rents should be reduced.

  • If changes are made without prior PHA approval, the PHA may determine that Contract Rents must be reduced or that the Owner must remedy any defi- ciency as a condition for acceptance of the unit(s).(ii) Contract rents may not be in- creased except in accordance with§§ 882.408(d) and 882.805(d)(2).


More Definitions of Contract Rents

Contract Rents is defined in Section 2(c) of the Assignment of Lease and Rents. APPENDIX A TO THE PARTICIPATION AGREEMENT (HGSI)
Sample 1
Contract Rents shall have the meaning assigned to such term in Section 2(c) of each Assignment of Leases.
Sample 1
Contract Rents means the total Contract Rents (as defined by HUD in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 1937, as amended) received in connection with the operation of the Housing Development governed by this section during an agreed annual period, exclusive of Utilities.
Sample 1

Related to Contract Rents

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Gross Rents means the actual sum of money or other consideration payable for the use or possession of property. "Gross rents" shall include, but not be limited to:

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of this Sublease.

  • Contract Right means any right, power or remedy of any nature under any Contract including rights to receive property or services or otherwise derive benefits from the payment, satisfaction or performance of another party’s Obligations, rights to demand that another party accept property or services or take any other actions, and rights to pursue or exercise remedies or options.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Rents means all of the rents, royalties, issues, profits, revenues, earnings, income and other benefits of the Property, or arising from the use or enjoyment of the Property, including all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or other payments for the use or occupancy of rooms or other public facilities within the Real Property.

  • Mortgagor The obligor on a Mortgage Note.

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Covered Building Service Contract means a contract or subcontract to provide Building Services to the City of Cambridge or any of its departments or subdivisions.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Residential Rental Unit means an area legally licensed or permitted for use as a living space containing a sleeping area, bathing and sanitation facilities and cooking facilities equipped with a cooking range, refrigerator and sink, all of which are separate and distinct from other Residential Rental Units. Reg. §§ 1.103-8(a) 8(i).

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Parking space leasing data means the following government data on an application for, or lease of, a parking space: residence address, home telephone number, beginning and ending work hours, place of employment, location of parking space, and work telephone number.

  • Lease contract means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. Unless the context clearly indicates otherwise, the term includes a sublease contract.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • trade premises means any premises used or intended to be used for carrying on any trade or industry;

  • Contract Rights means all rights of any Assignor under each Contract, including, without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and (iii) any and all other rights, interests and claims now existing or in the future arising in connection with any or all Contracts.