APFO Approval Sample Clauses

APFO Approval. A. The Hamptons section of the Project and the Town Center Commercial section of the Project each received conditional APFO Approval from the Planning Commission on March 19, 2008, subject to the execution of APFO Letters of Understanding. The conditions of APFO Approval require the Developer to construct (or to contribute funds toward) certain water, sewer and road improvements to serve these two sections of the Project and establish phasing schedules for the construction of these improvements in conjunction with development of residential units and commercial space in the Hamptons and Town Center Commercial sections of the Project, respectively. Additionally, the Developer has agreed to construct certain additional road improvements that are not required by the APFO. These additional road improvements are described in Section 3.1 below. B. The Hamptons Active Adult and Town Center Active Adult sections of the Project have obtained an exemption from the APFO schools test pursuant to Section 1-20-7(F) of the APFO. A portion of the Eaglehead at Lake Linganore PUD was designated as an age restricted community at the time of the Phase I rezoning for a portion of the PUD on June 16, 1998 (Ordinance No. 98-15-217), thereby satisfying the requirement of Section 1-20-7(F)(1) of the APFO. C. Section 1-20-7(F)(5) of the APFO requires that certain amenities be provided for age restricted projects in order to qualify for the schools test exemption. The parties acknowledge that Developer shall provide amenities in each of the Hamptons Active Adult and Town Center Active Adult sections of the Project. However, Developer intends to seek, at the request of the BOCC, a modification of the clubhouse/multipurpose building requirement set forth in Section 1-20-7(F)(5)(b) as it relates to the Town Center Active Adult section of the Project. This modification shall be requested pursuant to Section 1-20-7(F)(6) of the APFO based on shared resources with the Hamptons Active Adult (and possibly the Town Center Commercial) sections of the Project. D. The conditional APFO Approval granted by the Planning Commission did not take into account the transfer of 250 age-restricted units from the Hamptons Active Adult area to the Town Center Residential area. Therefore, within sixty (60) days of execution of this Agreement, Developer shall file an application for APFO Approval to reflect this transfer of 250 age-restricted units.
Sample 1
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APFO Approval. The Carrolls shall be required to obtain APFO Approval for the Project.
Sample 1

Related to APFO Approval

  • No Approval No approval of any third party including, but not limited to, any governmental authority is required in connection with the consummation of the transactions set forth in this Agreement.

  • NASDAQ Approval The Company and the Purchaser agree that until the Company either obtains shareholder approval of the issuance of the Securities, or an exemption from NASDAQ's corporate governance rules as they may apply to the Securities, and an opinion of counsel reasonably acceptable to the Purchaser that NASDAQ's corporate governance rules do not conflict with nor may result in a delisting of the Company's common stock from the SmallCap Market (the "Approval") upon the conversion of the Notes, the Purchaser may not receive upon conversion of the Notes more than the number of common shares greater than 19.9% of the shares of Company's common stock outstanding on the Closing Date. Provided the closing price of the Common Stock on a Principal Market is less than $.25 per share for three consecutive trading days (such third day being the "Trigger Date"), the Company covenants to obtain the Approval required pursuant to the NASDAQ's corporate governance rules to allow conversion of all the Notes and interest thereon. The Company further covenants to file the preliminary proxy statement relating to the Approval with the Commission on or before thirty days after the Trigger Date ("Proxy Filing Date"). The Company further covenants to obtain the Approval no later than ninety days after the Trigger Date ("Approval Date"). The Company's failure to (i) file the proxy on or before the Proxy Filing Date; or (ii) the Company's failure to obtain the Approval on or before the Approval Date (each being an "Approval Default") shall be deemed an Event of Default under the Note, but only to the extent the Notes and interest thereon that may not be converted due to the Company's failure to obtain such Approval.

  • Approval This Agreement shall not be binding until it has been approved by the Committee during a duly noticed Committee meeting.

  • No Approvals No consent or authorization of, filing with, notice to or other act by, or in respect of, any Governmental Authority or any other Person is required in order for the Borrower to execute, deliver, or perform any of its obligations under this Note.

  • Member Approval The “vote” or “approval” of the Members shall mean approval by a majority percentage of Membership Interest. Members shall vote or approve by their percentage interest as shown on Exhibit A of this Agreement. No annual or regular meetings of the Members are required. However, if such meetings are held, such meetings shall be noticed, held and conducted pursuant to the Act.

  • HSR Approval The applicable waiting period under the HSR Act shall have expired or been terminated.

  • Director Approval The Board of Directors of Holdings shall have approved this Agreement and the transactions contemplated herein.

  • FCC Approval Notwithstanding anything to the contrary contained in this Agreement or in the other Loan Documents, neither the Administrative Agent nor any Lender will take any action pursuant to this Agreement or any of the other Loan Documents, which would constitute or result in a change in control of the Borrower or any of its Subsidiaries requiring the prior approval of the FCC without first obtaining such prior approval of the FCC. After the occurrence of an Event of Default, the Borrower shall take or cause to be taken any action which the Administrative Agent may reasonably request in order to obtain from the FCC such approval as may be necessary to enable the Administrative Agent to exercise and enjoy the full rights and benefits granted to the Administrative Agent, for the benefit of the Lenders by this Agreement or any of the other Loan Documents, including, at the Borrower’s cost and expense, the use of the Borrower’s best efforts to assist in obtaining such approval for any action or transaction contemplated by this Agreement or any of the other Loan Documents for which such approval is required by Law.

  • No Approvals Required Except for the Registration Statement (as defined in Section 4(a) hereof) and the approval of the Acquired Fund’s shareholders (referred to in Section 6(a) hereof), no consents, approvals, authorizations, registrations or exemptions under federal or state laws are necessary for the consummation by the Acquiring Fund of the Reorganization, except such as have been obtained as of the date hereof.

  • No Regulatory Approval By the Company or Parent, if its Board of Directors so determines by a vote of a majority of the members of its entire Board, in the event any Requisite Regulatory Approval shall have been denied by final, nonappealable action by such Governmental Authority or a Governmental Authority shall have requested the permanent withdrawal of an application therefor.

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