HUD Limitations Sample Clauses

HUD Limitations. As long as the Secretary of Housing and Urban Development, or his successors or assigns (“HUD”), is the insurer or holder of the mortgage loans (the “HUD Mortgages”) relating to the real property consisting of the two apartment projects known as Pointe West Apartments and Ashford Place Apartments located at 1000 Xxxxxxxxx Xxxx, Xxxxxx, Xxxxxxx and 6000 Xxxxxx Xxxx, Xxxxxx, Xxxxxxx, respectively (the “Mxxxxxxx Properties”), that are encumbered by the two Regulatory Agreements for Multi-Family Housing Projects that are recorded in Book 2179, Page 760 and Book 2617, Page 207 in the Probate Office of Mobile County, Alabama (the “Regulatory Agreements”), no amendment to the Partnership Agreement which results in any of the following shall be of force and effect, without the prior written consent of HUD: (i) any amendment which modifies the duration of the Partnership Agreement; (ii) any amendment which results in the requirement that a Form 92530 HUD Prior Participation Certificate be obtained for any additional party; and (iii) any amendment which in any way impacts or affects the HUD Mortgages or the Regulatory Agreements. In addition, as long as HUD is the insurer or holder of the HUD Mortgages relating to the Mxxxxxxx Properties, upon any dissolution of the Partnership, no title or right to possession and control of the Mxxxxxxx Properties, and no right to collect the rents therefrom, shall pass to any person who is not bound by the terms of the HUD Mortgages or the Regulatory Agreements in a manner satisfactory to HUD.
Sample 1
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HUD Limitations. As long as the Secretary of Housing and Urban Development, or his successors or assigns ("HUD"), is the insurer or holder of the mortgage loans (the "HUD Mortgages") relating to the real property consisting of the two apartment projects known as Pointe West Apartments and Ashford Place Apartments located at 1601 Hillcrest Road, Mobile, Xxxxxxx xxx 0000 Xxxxxx Xxxx, Xxxxle, Axxxxxx, xxxxxxxxxxxx (xxx "Xxxxxxll Properties"), thax xxx xxcumbered by the two Regulatory Agreements for Multi-Family Housing Projects that are recorded in Book 2179, Page 760 and Book 2617, Page 207 in the Probate Office of Mobile County, Alabama (the "Regulatory Agreements"), no amendment to the Partnership Agreement which results in any of the following shall be of force and effect, without the prior written consent of HUD: (i) any amendment which modifies the duration of the Partnership Agreement; (ii) any amendment which results in the requirement that a Form 92530 HUD Prior Participation Certificate be obtained for any additional party; and (iii) any amendment which in any way impacts or affects the HUD Mortgages or the
Sample 1

Related to HUD Limitations

  • EXCLUSIONS AND LIMITATIONS 3.1 The Director shall not be entitled to be indemnified by the Company under the terms of the indemnity in clause 2.1 in relation to any Liability which is incurred by him:

  • Specific Limitations No Member shall have the right or power to: (a) withdraw or reduce such Member’s Capital Contribution except as a result of the dissolution of the Company or as otherwise provided by law or in this Agreement; (b) make voluntary Capital Contributions or to contribute any property to the Company other than cash; (c) bring an action for partition against the Company or any Company assets; (d) cause the termination and dissolution of the Company, except as set forth in this Agreement; or (e) upon the Distribution of its Capital Contribution require that property other than cash be distributed in return for its Capital Contribution. Each Member hereby irrevocably waives any such rights.

  • Other Limitations Prior to the payment in full of the Debt, neither Borrower nor any of its Affiliates shall, without the prior written consent of Lender (which may be furnished or withheld at its sole and absolute discretion), give its consent or approval to any of the following actions or items:

  • Certain Limitations The indemnification provided for in Section 8.02 and Section 8.03 shall be subject to the following limitations:

  • Conditions and Limitations The admission of any Person as a Substituted Member or an Additional Member shall be conditioned upon (i) such Person’s written acceptance and adoption of all the terms and provisions of this Agreement, either by (A) execution and delivery of a counterpart signature page to this Agreement countersigned by the Managing Member on behalf of the Company or (B) any other writing evidencing the intent of such Person to become a Substituted Member or an Additional Member and such writing is accepted by the Managing Member on behalf of the Company.

  • Indemnification Limitations (a) Purchaser shall be under no liability to indemnify Seller under 10.3.1 and no claim under Section 10.3.1 of this Agreement shall:

  • Survival; Limitations (a) The representations and warranties of the parties contained in or made pursuant to this Agreement shall be deemed to have been made on the date hereof and on the Closing Date, shall survive the Closing Date and shall remain operative and in full force and effect for the period ending 18 months thereafter (the “Survival Period”); provided that if on or prior to the expiration of the Survival Period, a notice of claim for indemnification shall have been given in accordance with Section 9.4 hereof, the indemnified party shall continue to have the right to be indemnified with respect to such indemnification claim until such claim for indemnification has been satisfied or otherwise resolved as provided in this Article IX; and provided further that the representations and warranties contained in, Section 3.16 (‘Environmental Matters’), Section 3.19 (‘Taxes’) and Section 3.20 (‘Investment Representations’) shall survive until the expiration of the applicable statute of limitations period plus 90 days and the representations and warranties contained in Sections 3.2 (‘Authority Relative to the Agreement’), 3.21 (‘Brokers’), 4.2 (‘Authority Relative to the Agreement’) and 4.8 (‘Brokers’) and all covenants and agreements made by any party hereunder which are to be performed after the Closing Date shall survive without time limit, with the exception of Sections 9.2(a) and 9.3(a), which shall only remain operative and in full force and effect as long as indemnification with respect to the underlying representation and warranty remains available in accordance with the foregoing provisions of this Section 9.1(a) (including as extended pursuant to the first proviso hereof).

  • Restrictions and Limitations (a) Except as hereinafter provided, no officer or Trustee of the Trust, no officer, director, or stockholder (or partner of a stockholder) of the investment adviser of the Trust (as that term is defined in the 0000 Xxx) or of any underwriter of the Trust, and no investment adviser or underwriter of the Trust shall take long or short positions in the securities issued by the Trust. The foregoing provision shall not prevent the purchase from the Trust of shares of any series issued by the Trust by any person at the price available to shareholders of the Trust generally at the time of such purchase, or as described in the current Prospectus of the Trust, or prior to commencement of the public offering of shares of the Trust, at the net asset value of such shares.

  • Exceptions to Limitations Conversions to Alternate Base Rate Loans shall be permitted in the case of clauses (i) and (ii) of Section 2.1(b) above, in each case, unless the Administrative Agent has otherwise accelerated the Obligations or exercised other rights that terminate the Commitments under Section 10.2.

  • Trust Limitations This Agreement is executed by the Trust with respect to the Fund and the obligations hereunder are not binding on any of the trustees, officers or shareholders of the Trust individually, but are binding only on the Fund and the assets and property of the Fund.

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