Extended Use Commitment definition

Extended Use Commitment means the agreement between the Partnership and the Agency, which is intended to meet the definition of a "long term commitment to low-income housing" as required by Section 42(h)(6) of the Code and the requirements of the Agency's Low-Income Housing Tax Credit Program.
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Examples of Extended Use Commitment in a sentence

  • If a buyer cannot be located within one year, the Extended Use Commitment will terminate.

  • The Extended Use Commitment must be completed and recorded before the end of the first credit period to preserve the tax credits allocated to the project.

  • A copy of Board Declaration of Land Use Restrictive Covenants for Low Income Housing Credits (Extended Use Commitment).

  • Extended Use Restriction By making this election, this rental project will be subject to an Extended Use Commitment for a minimum of ten (10) years beyond the mandatory HOME and Housing Tax Credit affordability periods.

  • C., Rinaldi, M., Scannell, C., Ceburnis, D., Sciare, J., Kanakidou, M., Myriokefalitakis,S., Dentener, F.

  • Applicants claiming points for an Extended Use Commitment may not claim points for Tenant Ownership.

  • We need to make sure we are learning lessons and taking them to the next steps.

  • If a buyer cannot be located within one year, the extended use commitment Extended Use Commitment will terminate.

  • Extended Use Restriction: By Marking this election, this project/program will be subject to an Extended Use Commitment for a minimum of ten (10) years beyond the mandatory HOF affordability period.

  • The applicant will not be able to request SDHDA to find a buyer for the low income portion of the property until sometime after the 39th year of the compliance period.Applicants claiming points for Extended Use Commitment may not claim points for Tenant Ownership.

Related to Extended Use Commitment

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(a) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $795,000,000.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Commitment Increase Agreement has the meaning assigned to such term in Section 2.20.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Total Revolving Commitments at any time, the aggregate amount of the Revolving Commitments then in effect.

  • Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrowers pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 (as in effect on the Closing Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Initial Term Commitments is $350,000,000.

  • Additional Commitment means any commitment hereunder added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Loan Commitment has the meaning set forth in Section 2.1.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).