Default Prepayment. a) Should the Applicant be in default under the terms of the Agreement, Efficiency Nova Scotia shall have the right to declare any direct incentives received by the Applicant be repaid with interest from the date of default. The interest rate shall be the prime interest rate in effect at the time of loan approval. The Applicant must provide notice to tenants of any default within 30 days of providing notice of default to Efficiency NS.
Appears in 7 contracts
Samples: Affordable Multifamily Housing Operating Agreement, Affordable Multifamily Housing Operating Agreement, Affordable Multifamily Housing Operating Agreement
