Eligible Borrowers. (11) Eligible borrowers under Estia are either individuals who contracted a mortgage loan or micro businesses and small businesses which received a business loan. The Scheme has common eligibility criteria for both types of borrowers.
(12) In addition to the NPE Criteria, borrowers will have to fulfil a set of cumulative means-based criteria to verify their income and debt-servicing capacity (the "Means Criteria").
(a) the total gross annual household income4 of the borrower does not exceed • EUR 60,000 for an applicant and his/her spouse that have at least 4 dependent family members; • EUR 55,000 for an applicant and his/her spouse that have 3 dependent family members; • EUR 50,000 for an applicant and his/her spouse that have 2 dependent family members; • EUR 45,000 for an applicant and his/her spouse that have 1 dependent family member; • EUR 35,000 for an applicant and his/her spouse without dependent family members; • EUR 20,000 for single applicants.
(b) the remaining household net wealth of the borrower excluding the main residence (i.e. the household's wealth, other than the main residence, less current borrowings) should not exceed 80% of the MV of the main residence, and in any case not exceed EUR 250,000; and
(c) the borrower has been resident in the European Union since 2013. Borrowers will still be deemed to have fulfilled this requirement in the case of (a) one month’s absence abroad, (b) absence for medical reasons, and/or (c) temporary absence for educational purposes.
(13) In the case of micro businesses and small businesses, the Means Criteria will be applied both to the small business owner as well as to the legal owner of the main residence, who will assume the responsibility to repay the restructured loan (to the extent that he/she is different from the owner of the small business). The value
4 A “household”, for the purposes of calculating income and wealth, means the income of the borrower (and in the case of the borrower being a legal entity, of its main shareholder), his/her spouse/civil union partner and their children who have not completed 18 years of age if they were living in the same residence as the borrower as of 30 September 2017. A main shareholder means someone controlling more than 50% of a legal entity’s shares. of the business will be taken into account for calculating the wealth of the borrower.
(14) In practice, the combination of these eligibility conditions entails that, de facto, only businesses with small size, ...
Eligible Borrowers. BUYERS. Bank may lend securities only to such securities brokers and dealers or other person or entities as are listed in the attached Exhibit A, as amended from time to time ("Borrowers"), unless and until otherwise instructed in writing by Principal. Bank may engage in reverse repurchase agreement transactions on Principal's behalf with only those brokers and dealers or other person or entities as are listed on the attached Exhibit A, as amended from time to time ("Buyers"), unless and until otherwise instructed in writing by Principal. All securities lending transactions and reverse repurchase agreement transactions entered into by Bank hereunder shall be entered into pursuant to related agreements between the Borrowers or Buyers, as the case may be, and Bank on behalf of Principal. Principal's execution of Exhibits A, B, and C or any amendment to Exhibits A, B, or C shall constitute Principal's representation and agreement that it has received, read, and understood the terms of each such agreement in respect of each Borrower or Buyer, as the case may be, listed thereon. Principal hereby (i) represents and warrants to Bank (which representations shall be deemed repeated at and as of all times when this Addendum is in effect) that Principal has the power and authority, and has taken all necessary action, to enter into this Addendum and each such agreement, and to perform the obligations of a lender or seller, as the case may be, under such transactions, and to authorize Bank to execute and deliver each such agreement on Principal's behalf and to enter into such transactions and to perform the obligations of a lender or seller, as the case may be, under such transactions on behalf of Principal, and (ii) authorizes Bank to execute and deliver each such agreement on Principal's behalf and to enter into any transaction of a nature contemplated by any such agreement on behalf of Principal and to perform the obligations of a lender or seller, as the case may be, under such transactions on behalf of Principal and (iii) has furnished 2 or will furnish Bank with evidence satisfactory to Bank that Principal has all necessary authority to enter into this Addendum and each of the transactions contemplated hereby. Bank shall have full unlimited power and authority to perform and each and every act or thing it may in its discretion deem necessary or appropriate in respect of any Securities Lending Agreement or Reverse Repurchase Agreement or any securities loan or any...
Eligible Borrowers. Owners of 1-4 unit residential properties within the Columbia Park Neighborhood who meet the program guideline criteria
Eligible Borrowers. All borrowers must be legally residing in the United States and may include: U.S. Citizens, Permanent Resident Aliens and Non-Permanent Aliens
Eligible Borrowers. Owners of 1-4 unit properties within the Columbia Park Neighborhood who meet the program guideline criteria. The borrower must not be eligible for any other financing administered by CEE in order to obtain an Emergency Deferred Loan.
Eligible Borrowers. U.S Citizens with a valid Social Security Number. A Taxpayer Identification Number alone is not sufficient. · Permanent Resident Aliens provided the Borrower has an active Social Security Number and documentation showing evidence of permanent status issued by the Bureau of Citizenship and Immigration Services (BCIS). · Non-Permanent Resident Aliens provided that the Borrower has an active Social Security Number and is eligible to work as evidenced by a valid Employment Acceptance Document issued by BCIS. · Non-Occupant Co-Borrowers are eligible (see LTV requirements above) and must sign both the security instrument and the note. · Non-Occupant Co-Signers are eligible. These borrowers sign the note but not the deed and are evaluated for credit worthiness in the same manner as primary borrowers. · A Non-Purchasing Spouse is eligible. If required by state law in order to perfect a valid and enforceable first lien, the non-purchasing spouse may be required to sign either the security instrument or documentation evidence that he or she is relinquishing rights to the property. · Military personnel are eligible as long as an immediate family member is occupying the subject property as their primary residence. · Living trusts where the beneficiary will occupy the subject property.
Eligible Borrowers. The Borrower must be legally organized as a single-asset entity, or entity that holds title only to MHSA or SNHP Developments, or as otherwise approved by Participant.
Eligible Borrowers. Borrower means a person who, as landowner, landlord, operator, pro- ducer, tenant, leaseholder, share- cropper, or processor of domestically produced sugarcane or sugar beets:
Eligible Borrowers. A. No Borrower income limits.
X. Xxxxxx rent the owner occupied unit for greater than twelve (12) consecutive months more than one time in the ten year period; and
C. Must invest a minimum down payment of 3% of the purchase price if they do not already own the property; and
X. Xxxxxxxx must demonstrate credit worthiness in the form of a bank commitment or other documentation acceptable to staff to purchase and/or convert the Property to owner- occupied, or to renovate the Property. An application packet is to be submitted to the City.
X. Xxxxxxxx shall comply with all applicable City ordinances including, but not limited to: Affirmative Action, Accessibility, Non-Discrimination, Best Value Contracting, Equal Opportunity and nondiscrimination against recipients of government housing subsidies.
F. Borrower shall allow the maximum feasible opportunity to small business enterprises to compete for any contracts entered into as part of this Program.
X. Xxxxxxxx will relinquish any Certificate of Occupancy for Nonconforming Use at the time of loan closing.
Eligible Borrowers. The Secretary may guarantee or insure loans under subsection (a) to both for-profit and non- profit borrowers. (Pub. L. 93–262, title II, § 201, Apr. 12, 1974, 88 Stat. 79; Pub. L. 98–449, § 4, Oct. 4, 1984, 98 Stat. 1725; Pub. L. 109–221, title IV, § 401(a), May 12, 2006, 120 Stat. 341.) 2006—Pub. L. 109–221, § 401(a)(1), (2), (4), inserted sec- tion catchline, designated existing provisions as sub- sec. (a) and inserted heading, substituted ‘‘the Sec- retary may—
(1) guarantee’’ for ‘‘Secretary is authorized (a) to guarantee’’, and added subsec. (b). Pub. L. 109–221, § 401(a)(3), which directed substitution of ‘‘members; or
(2) insure’’ for ‘‘members; and (b) in lieu of such guaranty, to in- sure’’, was executed by making the substitution for ‘‘and (b) in lieu of such guaranty, to insure’’ to reflect the probable intent of Congress and the amendment by Pub. L. 98–449. See 1984 Amendment note below. 1984—Pub. L. 98–449 struck out ‘‘who are not members of or eligible for membership in an organization which is making loans to its members’’ before ‘‘; and (b)’’.
