Breach of Affordability or Reporting Requirements; Breach by Owner Sample Clauses

Breach of Affordability or Reporting Requirements; Breach by Owner. In the event that the Sponsor and/or the Owner, at any time during the term of the Grant, defaults in its obligation to manage and operate the Project and/or to provide compliance information as required pursuant to Section 7 above, or otherwise fails to comply with the terms of this Agreement or the Application, and such default continues for a period of sixty (60) days after notice to the Sponsor and/or the Owner from the Member, or such shorter period of time required to avoid a default by the Member under the Subsidy Agreement, it shall be an Event of Default of this Agreement, and the Sponsor and the Owner shall immediately pay the Member that portion of the Grant which the Member may be required to repay to the FHLBC. The Sponsor and/or the Owner shall repay to the Member that portion of the Grant, including interest, if appropriate, that, as a result of their respective actions or omissions, is not used in compliance with the commitments of the Application or the requirements of the AHP Regulations, or the requirements of the Compiled Affordable Housing Program Policies (plus interest, if appropriate) unless such noncompliance is cured by the Sponsor and/or the Owner within a reasonable period of time, or the circumstances of noncompliance are eliminated through a modification of the Application, pursuant to the AHP Regulations.
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Breach of Affordability or Reporting Requirements; Breach by Owner. (a) In the event that the Sponsor and/or the Owner, at any time during the term of the Grant, defaults in its obligation to manage and operate the Project and/or to provide compliance information as required pursuant to Section 7 above, or otherwise fails to comply with the terms of this Agreement or the Application, and such default continues for a period of sixty (60) days after notice to the Sponsor and/or the Owner from the Member, or such shorter period of time required to avoid a default by the Member under the Subsidy Agreement, it shall be an Event of Default of this Agreement, and the Sponsor and the Owner shall immediately pay the Member that portion of the Grant which the Member may be required to repay to the FHLBC.
Breach of Affordability or Reporting Requirements; Breach by Owner. (a) In the event that the Sponsor and/or the Owner, at any time during the term of the Grant, defaults in its obligation to manage and operate the Project and/or to provide compliance information as required pursuant to Section 7 above, or otherwise fails to comply with the terms of this Agreement, it shall be an event of Non-Compliance as defined in the Bank’s Affordable Housing Program Definitions (part of the Bank’sCompiled AHP Policies (“Compiled AHP Policies”)). The Sponsor and the Owner shall repay either the Bank, or the Member if delegated the responsibility, that portion of the Grant which may be required to be repaid to the Bank (including interest, if appropriate), unless such Non- Compliance is cured by the Sponsor and/or the Owner within a reasonable period of time, or the circumstances of Non-Compliance are eliminated through a modification of the Application, pursuant to the AHP Regulations.

Related to Breach of Affordability or Reporting Requirements; Breach by Owner

  • Liability for Failure to Make Transfers If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Our Liability for Failure to Make Transfers If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable for instance: * If, through no fault of ours, you do not have enough money in your account to make the transfer. * If the money in your account is subject to legal process or other claim restricting such transfer. * If the transfer would go over the credit limit on your overdraft line. * If the ATM where you are making the transfer does not have enough cash. * If the terminal or system was not working properly and you knew about the breakdown when you started the transfer. * If circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken. In Case of Errors or Questions About Your Electronic Transfers. Telephone us at (000) 000-0000, or write us at R BANK,0000 X Xxxx Xxxxxx Xxxx, Xxxxx Xxxx, XX 00000 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than sixty days after we sent the FIRST statement on which the problem or error appeared. * Tell us your name and account number (if any). * Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. * Tell us the dollar amount of the suspected error. * If you tell us orally, we may request that you send us your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. If a notice of error involves an electronic fund transfer that occurred within thirty (30) days after the first deposit to the account was made, the error involves a new account. For errors involving new accounts, point ofsale debit card transactions, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

  • TERMINATION BY MPS - BREACH BY CONTRACTOR If Contractor fails to fulfill its obligations under this Contract in a timely or proper manner, or violates any of its provisions, MPS shall thereupon have the right to terminate it by giving five (5) days written notice before the effective date of termination of the Contract, specifying the alleged violations, and effective date of termination. The Contract shall not be terminated if, upon receipt of the notice, Contractor promptly cures the alleged violation with five (5) days. In the event of termination, MPS will only be liable for services rendered through the date of termination and not for the uncompleted portion, or for any materials or services purchased or paid for by Contractor for use in completing the Contract.

  • Breach of Conditions Where a loss occurs and there has been a breach of condition relating to a matter before the happening of the loss, which bre ach would otherwise disentitle the Insured from recovery under this Form, the breach shall not disentitle the Insured from recovery if the Insured establishes that the loss was not caused or contributed to by the breach of condition or if the breach of condition occurred in any portion of the project over which the Insured has no control.

  • Breach of Covenants If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.4 of the Note.

  • Breach by Resident Upon any breach by Resident of this Housing Agreement or a prior agreement between Resident and Owner or its affiliates, including community policies, Owner may without separate demand or notice except as provided by law, and in addition to other lawful remedies, do any one or more of the following: (i) collect any charge under this Housing Agreement or community policies, including reimbursement for costs of collection; (ii) terminate this Housing Agreement and/or Resident’s right to occupy the premises, and/or institute an action for eviction; (iii) sue to collect all past due charges and/or unpaid rent and other charges which become due through the End Date or until the bedroom space and all other bedroom spaces at the Property have been filled, with recovery by Owner of any discrepancy in rent rate and any expense incurred in obtaining the new resident contract; (iv) report any information to credit reporting agencies. Without limitation, Owner may terminate this Agreement for non-payment of rent or other charges, or upon any conduct by Resident that is prohibited by or in breach of this Agreement, or if, in the reasonable judgment of Owner, continued residency will or may be detrimental to the educational process or the health, safety and/or welfare of the other residents of the Property or any of the Property’s personnel. Upon any termination as described in this paragraph, Resident: (a) must fully vacate the bedroom space and apartment (including removing all personal belongings) within the time provided in the written notice given by Owner, and will have no further use of or access to the Property, the assigned apartment or bedroom space; and

  • FALSE STATEMENTS; BREACH OF REPRESENTATIONS The Parties acknowledge that this Agreement has been negotiated, and is being executed, in reliance upon the information contained in the Application, and any supplements or amendments thereto, without which the Comptroller would not have approved this Agreement and the District would not have executed this Agreement. By signature to this Agreement, the Applicant:

  • Liability for Failure to Stop Payment of Preauthorized Transfers If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

  • Breach of Covenant The Borrower breaches any material covenant or other term or condition of the Subscription Agreement or this Note in any material respect and such breach, if subject to cure, continues for a period of ten (10) business days after written notice to the Borrower from the Holder.

  • BREACH BY SELLER In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser’s default, Purchaser may: (1) enforce specific performance of this Contract; or (2) request that the Escrow Deposit, if any, shall be forthwith returned by the title company to Purchaser.

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