Eligible Purchaser. A Proposed Purchaser shall qualify as an "Eligible Purchaser" if he or she meets the following requirements, as determined by the City:
Eligible Purchaser. 33 ERISA................................................................. 9
Eligible Purchaser. As used in this Covenant, “Eligible Purchaser” shall mean an individual or household who at the time of qualification has an annual income equal to or less than 240% of the median household income for Dukes County as calculated and adjusted for household size from time to time by HUD, and owning assets with value not in excess of an amount equal to eighty (80%) of the appraised value of the Premises, and which individual or household has been qualified and approved by the Seller in writing to own the Premises in accordance with the restrictions of this Covenant. Said individual or household must provide to Seller) such certifications as to income, assets, and residency as Seller may require for it to determine eligibility as an Eligible Purchaser. To be considered an Eligible Purchaser, the individual or household must intend to occupy and thereafter must occupy the Premises as his, her or their principal residence, and thereafter an Eligible Purchaser must occupy the Premises as his, her or their principal residence for at least eleven (11) months of each calendar year. Vacation rental, short-term or seasonal rental of the Premises, and any use of the Premises or activity thereon inconsistent with exclusive year-round residential use is prohibited. For purposes of this Covenant, household size is determined as the number of bedrooms plus one, i.e., a two bedroom house shall be deemed appropriate for a three person household for the purposes of income eligibility and price setting; a three bedroom house shall be deemed appropriate for a four person household; a four bedroom house shall be deemed appropriate for a five person household; and a five bedroom house shall be deemed appropriate for a six person household.
Eligible Purchaser. Eligible Purchaser shall mean a Proposed Purchaser who meets the following requirements, as determined by SDCLT:
Eligible Purchaser. For purposes of this Section 4, (i) an “Eligible Purchaser” means, subject to the provisions of Section 4.7 hereof with respect to termination of any particular Investor’s rights of first purchase hereunder, an Investor holding at least 500,000 shares of Series A, Series A-1, Series B, Series C or Series D Preferred, (as adjusted for stock dividends, combinations, stock splits and the like) at the time of such issuance of New Securities, and any affiliate of such Investor, and (ii) an “affiliate” of an Investor means (x) a partner, member or shareholder of such Investor, or any entity or person controlling, under common control with or controlled by an Investor, (y) in the case of ZCG, includes any principal, employee or investment advisory client of ZCG and (z) in the case of an MDS Entity, includes any MDS Entity. Each affiliate of an Investor is intended as a third party beneficiary hereunder solely with respect to the provisions of this Section 4, provided that a waiver by an Investor of any right, notice requirement, time period or other term or condition of this Section 4 will also be deemed to constitute a waiver by all affiliates of such Investor.
Eligible Purchaser. The term “Eligible Purchaser” means each of the purchasers (i.e., all persons identified as having a property ownership interest vested in the Inclusionary Unit as of the close of the Inclusionary Unit Escrow) of an Inclusionary Unit that is subject to the Affordable Housing Covenant of Developer set forth in Section 2.2. At the close of the Inclusionary Unit Escrow, the Qualified Purchaser shall: (i) have an annual Adjusted Household Income which does not exceed the household income qualification limits of either a Very Low-Income Household, Low-Income Household, or a Moderate-Income Household, and (ii) pay no more than the Affordable Purchase Price for the Inclusionary Unit.
Eligible Purchaser. To be an Eligible Purchaser, any subsequent purchaser shall have an income, certified by the City or its designee, which is one hundred twenty percent (120%) or less of current median income, as determined by the U.S. Department of Housing and Urban Development based on the Oakland Primary Metropolitan Statistica1 Area (PMSA) median income levels, adjusted for household size.
Eligible Purchaser. To be considered an Eligible Purchaser of an Affordable Workforce Housing Unit for sale (For Sale Dwelling), the individual or household must own and occupy the For Sale Dwelling as his, her or their principal residence, meets the definition of Workforce Resident, and comply with the Maximum Income limits stated herein. Any use of the For Sale Dwelling or any activity thereon which is inconsistent with the purpose of this Deed Restriction is expressly prohibited, unless the Affordable Workforce Housing Unit is leased out in accordance with the terms of Section 2(a).
