Common use of Financing Regulations Clause in Contracts

Financing Regulations. (a) So long as any of the Project Documents are in effect, (i) each of the provisions of this Agreement shall be subject to, and the General Partner covenants to act in accordance with, the Project Documents; (ii) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iii) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required); (iv) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency (to the extent that its approval is required); and (v) the affairs of the Partnership shall be subject to the Regulations, and no action shall be taken which would require the consent or approval of any Lender and/or Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations or requirements shall become effective until any Requisite Approvals to such amendment shall have been obtained. (b) Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other FmHA documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)FmHA; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency FmHA (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, FmHA regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency FmHA unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency FmHA (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations FmHA regulations or requirements shall become effective until any Requisite Approvals the prior written consent of FmHA (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations FmHA rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other Project Documents in a manner satisfactory to the Lenders and Lender or any Agency (to the extent that its approval is required); (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of the Lender or any Lender and/or Agency (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, Agency regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of the Lender or any Lender and/or Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations Agency regulations or requirements shall become effective until any Requisite Approvals the prior written consent of the Agency (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations Agency rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)each Agency; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or each Agency (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the RegulationsAgency regulation, and no action shall be taken which would require the consent or approval of any Lender and/or Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, Agency shall have been obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or each Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations Agency regulations or requirements shall become effective until any Requisite Approvals the prior written consent of each Agency (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations Agency rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, with the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other Agency documents in a manner satisfactory to the Lenders Lender and any Agency (to the extent that its approval is required)Agency; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any the Lender and/or and the Agency (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, Agency regulations and no action shall be taken which would require the consent or approval of any Lender and/or the Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any the Lender and/or and the Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations Agency regulations or requirements shall become effective until any Requisite Approvals the prior written consent of the Agency (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations Agency rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other RECD documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)RECD; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency RECD (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, RECD regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency RECD unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency RECD (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations RECD regulations or requirements shall become effective until any Requisite Approvals the prior written consent of RECD (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations RECD rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other FmHA documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)FmHA; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency FmHA (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the RegulationsFmHA regulation, and no action shall be taken which would require the consent or approval of any Lender and/or Agency FmHA unless the prior consent or approval of such Lender and/or Agency, as the case may be, FmHA shall have been obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency FmHA (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations FmHA regulations or requirements shall become effective until any Requisite Approvals the prior written consent of FmHA (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations FmHA rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other RECD documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)RECD; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency RECD (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, RECD regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency RECD unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency RECD (if such consent is then required). The General Partners shall at all times hold and maintain a financial interest of not less than 1% of cash flow and not less than 5% of the net proceeds of capital transactions unless the consent of RECD to a lesser interest is obtained. No amendment to this Agreement relating to matters governed by the Regulations RECD regulations or requirements shall become effective until any Requisite Approvals the prior written consent of RECD (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations RECD rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other FmHA documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)FmHA; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency to FmHA (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the RegulationsFmHA regulation, and no action shall be taken which would require the consent or approval of any Lender and/or Agency FmHA unless the prior consent or approval of such Lender and/or Agency, as the case may be, FmHA shall have been obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency FmHA (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations FmHA regulations or requirements shall become effective until any Requisite Approvals the prior written consent of FmHA (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations FmHA rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly ex- pressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other Project Documents in a manner satisfactory to the Lenders and Lender or any Agency (to the extent that its approval is required); (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of the Lender or any Lender and/or Agency (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, Agency regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of the Lender or any Lender and/or Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations Agency regulations or requirements shall become effective until any Requisite Approvals the prior written consent of the Agency (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Apart- ment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations Agency rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment ComplexPartnership Property, no title or right to the possession and control of the Apartment Complex Partnership Property and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other Project Documents in a manner satisfactory to the Lenders and Lender or any Agency (to the extent that its approval is required); (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of the Lender or any Lender and/or Agency (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, Agency regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of the Lender or any Lender and/or Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations Agency regulations or requirements shall become effective until any Requisite Approvals the prior written consent of the Agency (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex Partnership Property required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations FmHA rules and regulations applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other MHDC documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)MHDC; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency MHDC (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, MHDC regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency MHDC unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency MHDC (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations MHDC regulations or requirements shall become effective until any Requisite Approvals the prior written consent of MHDC (if required) to such amendment shall have been obtained. (b) Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations MHDC rules and regulations applicable thereto. (c) The Partnership is authorized to execute all documents required by MHDC with respect to the Partnership's loan, construction, development and operation of the Apartment Complex, subject to the Permanent Mortgage, the Project Documents, and all other agreements with MHDC. All incoming Partners as a condition to receiving Interests, shall, by execution of a counterpart hereof, agree to be bound by such documents in the same manner and on the same terms as the other Partners. Upon the Partnership's dissolution, no title or right to possession and control of the Apartment Complex and no right to collect the rents therefrom shall pass to any Person not bound by such MHDC documents in the same manner as the Partners. If there is any inconsistency between this Agreement and such MHDC documents and regulations, the MHDC documents and regulations shall prevail.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other Agency or Lender documents in a manner satisfactory to the Lenders and any applicable Agency (to the extent that its approval is required)or Lender; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any each Agency and Lender and/or Agency (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, Agency and Lender regulation and no action shall be taken which would require the consent or approval of any Agency or Lender and/or Agency unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any each Agency and Lender and/or Agency (if such consent is then required). No amendment to this Agreement relating to matters governed by the Regulations Agency or Lender regulations or requirements shall become effective until any Requisite Approvals the prior written consent of each Agency and Lender (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations Agency rules and regulations and Lender requirements applicable thereto.

Financing Regulations. (a) So long as any of the Project Documents are in effect, (ia) each of the provisions of this Agreement shall be subject to, and the General Partner covenants Partners covenant to act in accordance with, the Project Documents; (iib) the Project Documents shall govern the rights and obligations of the Partners, their heirs, executors, administrators, successors and assigns to the extent expressly provided therein; (iiic) upon any dissolution of the Partnership or any transfer of the Apartment Complex, no title or right to the possession and control of the Apartment Complex and no right to collect the rent therefrom shall pass to any Person who is not, or does not become, bound by the Project Documents and other FmHA documents in a manner satisfactory to the Lenders and any Agency (to the extent that its approval is required)FmHA; (ivd) no amendment to any provision of the Project Documents shall become effective without the prior written consent of any Lender and/or Agency FmHA (to the extent that its approval is if required); and (ve) the affairs of the Partnership shall be subject to the Regulations, FmHA regulation and no action shall be taken which would require the consent or approval of any Lender and/or Agency FmHA unless the prior consent or approval of such Lender and/or Agency, as the case may be, shall have been same is f first obtained. No new Partner shall be admitted to the Partnership, and no Partner shall withdraw from the Partnership or be substituted for without the consent of any Lender and/or Agency FmHA (if such consent is then required)) . No amendment to this Agreement relating to matters governed by the Regulations FmHA regulations or requirements shall become effective until any Requisite Approvals the prior written consent of FmHA (if required) to such amendment shall have been obtained. (b) . Any conveyance or transfer of title to all or any portion of the Apartment Complex required or permitted under this Agreement shall in all respects be subject to all conditions, approvals and other requirements of any Regulations FmHA rules and regulations applicable thereto.