City Consideration of Requested Transfer Sample Clauses

City Consideration of Requested Transfer. City agrees that it will consider in good faith a request made pursuant to this Section 7.11 after the achievement of occupancy of one hundred percent (100%) of the Units in conformity with this Agreement following the completion of the Improvements, provided that: (i) the Participant causes to be delivered to City written evidence from HUD that HUD consents to and does not object to the action requested; (ii) the Participant pays, or is prepared to pay concurrent with transfer, the amount due under the Equity Share Note in connection with such transfer; (iii) the Participant delivers written notice to City requesting such approval, which notice and the CC&Rs remain in full force and effect; (iv) the Participant is not in default of this Agreement or any attachments hereto; (v) the Participant provides detailed information regarding the transferee (the background, training, experience relative to the operation of affordable rental projects, and its capitalization) and of the proposed transfer (including price, terms of payment, time and place for closing); and/or the agreement of the transferee to be bound by and subject to all of the Development Documents, including without limitation, the CC&Rs, the Resale Restriction Agreement, the Senior Note, the Capital Recovery Note, the Equity Share Note (which shall be adjusted upon transfer based upon the receipt of equity sharing moneys by the City, as more fully described in the Equity Share Note), the Senior Deed of Trust, the Equity Share Deed of Trust, and the Capital Recovery Deed of Trust; and (vi) the Participant pays to City the sum of Five Thousand Dollars ($5,000.00) (“Special Charges”), on a nonrefundable basis to assist City in defraying its cost to conduct due diligence, consider and process any such request (amounts so paid as Special Charges shall not be applied as payments due under the Equity Share Note or any other Promissory Note). Evidence regarding any proposed assignee or purchaser shall be detailed concerning the proposed assignee’s or purchaser’s development and/or operational qualifications and experience, its financial commitments and resources, and shall, in addition, describe in detail the financial terms of such assignment (including the consideration proposed to flow to the Participant or Related Entity and/or any of the Principals) in sufficient detail to enable City to evaluate the proposed assignee or purchaser pursuant to the criteria set forth in this Section 7.11, and as reaso...
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City Consideration of Requested Transfer. The City agrees that it will not unreasonably withhold approval of a request made pursuant to this Section, provided (a) the Owner delivers written notice to the City requesting such approval, and (b) the proposed assignee or transferee possesses comparable operational experience and capability with respect to the operation of similar types of multifamily rental property, and comparable net worth and resources as necessary to operate the Property, and (c) the proposed assignee or transferee assumes the obligations of the Owner under this Agreement in a form which is reasonably acceptable to the City. Such notice shall be accompanied by evidence regarding the proposed assignee’s or purchaser’s qualifications and experience and its financial commitments and resources sufficient to enable the City to evaluate the proposed assignee or purchaser pursuant to the criteria set forth in this Section 504(c) and other criteria as reasonably determined by the City. The City shall approve or disapprove the request within thirty (30) days of its receipt of the Owner’s notice and all information and materials required herein. In no event, however, shall the City be obligated to approve the assignment or transfer of the City Loan, Promissory Note or Deed of Trust pursuant to this Section 504, except to an approved transferee or assignee of the Owner’s rights in and to the Property.
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City Consideration of Requested Transfer. The City agrees that it will not unreasonably withhold approval of a request made pursuant to this Section 604, provided
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City Consideration of Requested Transfer. The City agrees that it will not unreasonably withhold approval of a request made pursuant to this Article 5 provided (a) the Owner delivers written notice to the City requesting such approval, and (b) the proposed assignee or transferee possesses comparable operational experience and capability, and comparable net worth and resources, as Owner, and (c) the assignee or transferee assumes the obligations of the Owner under this Agreement pursuant to a written assignment and assumption agreement in a form reasonably acceptable to Owner and the City Attorney. Such notice shall be accompanied by evidence regarding the proposed assignees or purchaser’s qualifications and experience and its financial commitments and resources sufficient to enable the City to evaluate the proposed assignee or purchaser pursuant to the criteria set forth herein and other criteria as reasonably determined by the City. The City shall approve or disapprove the request within forty-five (45) days of its receipt of the Owner’s notice and all information and materials required herein.
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City Consideration of Requested Transfer. The City agrees that it will not unreasonably withhold approval of a request for approval of a Transfer made pursuant to this Section , provided Developer delivers written notice to City requesting such approval. Such notice must be accompanied by evidence regarding the proposed transferee’s development and/or operational qualifications and experience, and its financial commitments and resources, in sufficient detail to enable City to evaluate the proposed assignee or purchaser pursuant to the criteria set forth in this Section and as reasonably determined by City. City may, in considering any such request, take into consideration such factors as (i) the quality of any new and/or replacement developer (ii) the transferee’s past performance as developer of residential housing, (iii) the current financial condition of the transferee, and (iv) similar factors. The City agrees not to unreasonably withhold its approval of any such requested Transfer, taking into consideration the foregoing factors. An assignment and assumption agreement in form satisfactory to the City’s legal counsel must also be required for all proposed Transfers. Within thirty (30) days after receiving Developer’s written notice requesting City approval of a Transfer pursuant to this Section, City must either approve or disapprove such proposed assignment or must respond in writing by stating what further information, if any, City reasonably requires in order to determine the request complete and determine whether or not to grant the requested approval. Upon receipt of such a response, Developer must promptly furnish to City such further information as may be reasonably requested.
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Related to City Consideration of Requested Transfer

  • Can I Roll Over or Transfer Amounts from Other IRAs You are allowed to “roll over” a distribution or transfer your assets from one Xxxx XXX to another without any tax liability. Rollovers between Xxxx IRAs are permitted every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. If you are single, head of household or married filing jointly, you may convert amounts from another individual retirement plan (such as a Traditional IRA) to a Xxxx XXX, there are no AGI restrictions. Mandatory required minimum distributions from Traditional IRAs, must be removed from the Traditional IRA prior to conversion. Rollover amounts (except to the extent they represent non-deductible contributions) are includable in your income and subject to tax in the year of the conversion, but such amounts are not subject to the 10% penalty tax. However, if an amount rolled over from a Traditional IRA is distributed from the Xxxx XXX before the end of the five-tax-year period that begins with the first day of the tax year in which the rollover is made, a 10% penalty tax will apply. Effective in the tax year 2008, assets may be directly rolled over (converted) from a 401(k) Plan, 403(b) Plan or a governmental 457 Plan to a Xxxx XXX. Subject to the foregoing limits, you may also directly convert a Traditional IRA to a Xxxx XXX with similar tax results. Furthermore, if you have made contributions to a Traditional IRA during the year in excess of the deductible limit, you may convert those non-deductible IRA contributions to contributions to a Xxxx XXX (assuming that you otherwise qualify to make a Xxxx XXX contribution for the year and subject to the contribution limit for a Xxxx XXX). You must report a rollover or conversion from a Traditional IRA to a Xxxx XXX by filing Form 8606 as an attachment to your federal income tax return. Beginning in 2006, you may roll over amounts from a “designated Xxxx XXX account” established under a qualified retirement plan. Xxxx XXX, Xxxx 401(k) or Xxxx 403(b) assets may only be rolled over either to another designated Xxxx Qualified account or to a Xxxx XXX. Upon distribution of employer sponsored plans the participant may roll designated Xxxx assets into a Xxxx XXX but not into a Traditional IRA. In addition, Xxxx assets cannot be rolled into a Profit-Sharing-only plan or pretax deferral-only 401(k) plan. In the event of your death, the designated beneficiary of your Xxxx 401(k) or Xxxx 403(b) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary Xxxx XXX account. Strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing any type of rollover.

  • Transfer Cancellation Requests and Refused Transfers You may cancel a transfer at any time until it begins processing (as shown in the Service). We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Account that we debited for the funds transfer. If this is unsuccessful (for example, the Eligible Transaction Account has been closed) we will make reasonable attempts to otherwise return the funds to you.

  • Security Constrained Unit Commitment Adjustments The NTO shall coordinate with its ITO(s) as applicable regarding any request for commitment of additional Generators. If, following coordination among the NTO and its ITO(s), an additional resource(s) needs to be committed to ensure local area reliability, the NTO, or the ITO(s) at the NTO’s request, may request commitment of additional Generators (including specific output level(s)). The ISO will use Supplemental Resource Evaluation (“SRE”), pursuant to ISO Tariffs and ISO Procedures, to fulfill a request from the NTO or ITO(s), as appropriate, for additional units.

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