AHP Subsidy Not Necessary. The member shall recover from the project sponsor and repay to the Bank that portion of the subsidy that the Bank determines, based upon its periodic review or monitoring of the Project, is not, or was not, necessary for the Project; provided, however, that such repayment shall not be required if the member is unable to collect the subsidy after making reasonable efforts to collect it.
Appears in 2 contracts
Samples: Affordable Housing Program Subsidy Agreement, Affordable Housing Program Subsidy Agreement
AHP Subsidy Not Necessary. The member shall recover from To the extent not recovered and repaid to the Bank pursuant to paragraph 7(c) above, the project owner or project sponsor and shall repay directly to the Bank that portion of the subsidy AHP Subsidy that the Bank determines, based upon its periodic review or monitoring of the Projectproject, is not, or was not, necessary for the Project; provided, however, that such repayment shall not be required if the member is unable to collect the subsidy after making reasonable efforts to collect itproject.
Appears in 1 contract
AHP Subsidy Not Necessary. The member shall recover from the project sponsor owner or project sponsor, as appropriate, and repay to the Bank that portion of the subsidy AHP Subsidy that the Bank determines, based upon its periodic review or monitoring of the Projectproject, is not, or was not, necessary for the Projectproject; provided, however, that such repayment shall not be required if the member is unable to collect the subsidy AHP Subsidy after making reasonable efforts to collect it.
Appears in 1 contract
