Eligible Tenant. Individuals earning 60% or less of the HUD-determined Median Family Income (as amended from time to time) for the Durham Metro region at time of initial occupancy. Each individual will be defined as a separate household for income verification purposes.
Eligible Tenant. Individuals who are homeless and who have a disability earning 50% or less of the HUD-determined Median Family Income (as amended from time to time) for the Durham Metro region at time of initial occupancy. Each individual will be defined as a separate household for income verification purposes.
Eligible Tenant. A tenant in Eligible Real Estate that satisfies each of the following requirements at all times: (i) such tenant is not a natural person and is a legal operating entity, duly organized and validly existing under the laws of its jurisdiction of organization; (ii) such tenant is not the subject of any Insolvency Event; (iii) no default, event of default or event which with the giving of notice or the expiration of time would constitute a default or event of default has occurred and is continuing with respect to any other lease relating to a property included in the calculation of the Unencumbered Asset Value to which such tenant is a party; and (iv) such tenant is in compliance with the material terms and conditions of such lease.
Eligible Tenant. (i) A Tenant who has leased any Property pursuant to an Eligible Lease, as to whom all of the Leasing Standards have been duly applied by the related Property Manager and (ii) A Carry-Over Tenant.
Eligible Tenant. A tenant in Eligible Real Estate or a property subject to an Eligible Note Receivable that satisfies each of the following requirements at all times: (i) such tenant is not a natural person and is a legal operating entity, duly organized and validly existing under the laws of its jurisdiction of organization; (ii) such tenant is not the subject of any Insolvency Event and such tenant has not experienced a material adverse change in its business, financial condition, operations or properties since the date of its lease; (iii) no default, event of default or event which with the giving of notice or the expiration of time would constitute a default or event of default has occurred with respect to any other lease relating to a property included in the calculation of the Borrowing Base Value to which such tenant is a party; (iv) such tenant is in compliance with all material terms and conditions of such lease; (v) such tenant’s principal office is located in the United States; and (vi) such tenant has a risk rating of 4 or higher on the risk rating scale attached hereto as Exhibit I.
Eligible Tenant. A tenant in Eligible Real Estate that satisfies each of the following requirements at all times: (i) such tenant is not a natural person and is a legal operating entity, duly organized and validly existing under the laws of its jurisdiction of organization; (ii) such tenant is not the subject of any Insolvency Event; (iii) no default, event of default or event which with the giving of notice or the expiration of time would constitute a default or event of default has occurred and is continuing with respect to any other lease relating to a property included in the calculation of the Unencumbered Asset Value to which such tenant is a party; and (iv) such tenant is in compliance with the material terms and conditions of such lease. Employee Benefit Plan. Any employee benefit plan within the meaning of §3(3) of ERISA maintained or contributed to by either of the Borrower or any ERISA Affiliate, other than a Multiemployer Plan. Environmental Laws. See §6.20(a).
Eligible Tenant. For the purposes of this MOU, “eligible tenant(s)” means persons who: Live in a household with at least one individual with a disability. Have extremely low incomes (at or below 30% Area Median Income). Meet the Special Population definition of a person with a qualifying disability/special need (MI Choice Eligibility): Provide verification of the eligibility criteria for income and special population as identified above; and Reside or will reside at Apartments, living in an 000XXX xxxx. Are older than 18 years of age but younger than 62 years of age. Include a household member who must be eligible for participation in a Medicaid home and community-based long-term services program.
Eligible Tenant. To be considered an Eligible Tenant for rental of an Affordable Workforce Housing Dwelling Unit (Rental Dwelling), the individual or household must occupy the Rental Dwelling as his, her or their principal residence, meet the definition of Workforce Resident, and comply with the Maximum Income limits stated herein. Students 18 years or older who are not claimed by a parent or guardian as a dependent on IRS tax returns may be considered Eligible Tenants unless otherwise prohibited by funding sources used to develop or finance the Rental Dwellings. Any use of the Rental Dwelling or any activity thereon which is inconsistent with the purpose of this Deed Restriction is expressly prohibited.
