Limitation on Resale. Habitat agrees the documents of the sale of the Property to the qualified initial home buyer outlined in SECTION II will include provisions to restrict any subsequent sales during the duration of this Agreement by imposing an agreed upon resale ratio that will ensure that the Property will be affordable to a subsequent home buyer who meets the income limits outlined in SECTION II of this Agreement. Habitat further agrees that if the Property is resold to subsequent h o m e buyers during the twenty (20) year Performance Obligation, that they must meet the requirements as set forth in SECTION II, for the remaining period until May 31, 2044. Habitat shall immediately notify the City that the Property is for re-sale and following the procedures as outline under SECTION II.
Limitation on Resale. Except as provided herein, Member Entity shall not sell water supplied by Riverbend other than for retail water service to the Member Entity’s current and future customers. Member Entity acknowledges and agrees that Riverbend has or will issue bonds, the interest of which is excludable from the gross income of the owners thereof for federal income tax purposes (“Tax Exempt Bonds”), and that such tax-exempt status will allow Riverbend to borrow funds at interest rates that will be lower than otherwise available to Riverbend, thereby lowering costs to Member Entity and the other Riverbend Member Entities. Certain laws may impose restrictions on the use of proceeds of any such Tax Exempt Bonds and on the use of the facilities and property financed by the Tax Exempt Bonds. As such, and except as provided in Section 2(i), Member Entity will not enter into any water supply contract other than with a retail customer for the provision of water service by Member Entity unless it has notified Riverbend in writing of its intent to enter into such contract and received approval from Riverbend. This section shall be of no further effect upon the retirement of all bonded indebtedness.
Limitation on Resale. Notwithstanding any other provision of this Section, until the first anniversary of the Effective Time, Great Step shall not sell Syntax-Brillian Common Stock in excess of the volume limitations set forth in Rule 144(e) under the Securities Act.
Limitation on Resale. Talty agrees that it will not, during the term of this Contract, sell or resell any of the treated water it purchases from the City hereunder to any wholesale or other customer other than retail customers within its service area, nor will Xxxxx xxxxx or authorize the reuse of any water purchased hereunder, without prior written consent by the City Council of the City of Xxxxxx, Texas, based on a formal action of the Council.
Limitation on Resale. The provisions of the Trading Restriction Agreement limiting the resale of the Shares shall not apply to any transfer permitted pursuant to Section 7.03 hereunder.
Limitation on Resale. During the Contract Term, University agrees that University will not sell any Contractor Products purchased pursuant to this Agreement, except that University may sell such Contractor Products to: (1) affiliates of the University, including on-campus retail outlets that provide services or sales to the University’s teams, athletic facilities, faculty, students, and visitors, and (2) vendors of the University that provide services to the University’s teams or athletic facilities but only to the extent related to the service.
Limitation on Resale. The Buyers shall not resell any of their respective Convertible Notes within six months of the Issue Date; provided, however, that the foregoing shall not restrict the any Buyer from (i) pledging or financing its respective Convertible Notes pursuant to customary arrangements used by such Buyer and its respective affiliates and managed accounts, or the foreclosure or settlement of such arrangements or (ii) transferring the Convertible Notes to such Buyer’s respective “affiliates” (as defined in Rule 405 of the 1933 Act); provided further, that Antara Capital LP shall be entitled to resell its Convertible Notes within six months of the Issue Date in a principal amount no greater than $10,000,000.
Limitation on Resale. The Shares are offered and sold by the Parent pursuant to exemptions from registration under the Securities Act. Because the Shares are issued in a transaction not involving a public offering, such securities are "restricted securities" as that term is defined in Rule 144(a)(3). Further, each Holder covenants and agrees that the Shares may not be resold for a period of three (3) years following the Closing, and then only as permitted under the Securities Act and the applicable state securities laws pursuant to registration thereunder or an exemption therefrom. Notwithstanding the language herein or in the Parent's Policy Statement on Confidential Information and Securities Trading dated December 1, 1999, the foregoing restrictions shall not preclude the Holder from executing or entering into with Xxxxxxx, Sachs & Co. ("GSC") industry-standard "European-style" options ("Options") to hedge or collar the Shares and from pledging the Shares in connection therewith (a "Permitted Pledge"); provided that: (i) the Options shall not expire prior to the third anniversary of the Closing Date; and (ii) no Permitted Pledge shall permit the settlement of the Options or require a disposition of the pledged Shares prior to the third (3rd) anniversary of the Closing Date (except to the extent permitted by the proviso to the immediately following sentence). The Holder shall provide the Parent with duly-executed copies of any Options or other agreement evidencing a Permitted Pledge, which documentation shall provide that no disposition of the Shares so pledged may be made prior to such 3rd anniversary date; provided, however, that such documents may provide for a disposition prior to such 3rd anniversary of pledged Shares in certain events such as those that make it impossible or commercially impracticable for a major investment bank to continue to hedge its exposure under the Permitted Pledge or similar instrument, including an event which causes the Shares to cease to exist as a separate trading security of the Parent, such as an acquisition of the Parent. The Parent consents to the registration of the Shares in the name of GSC (or an Affiliate thereof) as nominee of the Holder, subject to the Parent's review of documentation between GSC and the Holder evidencing GSC's agreement (by letter to the Parent or otherwise) to honor the provisions of this Section.
Limitation on Resale. The undersigned Holders, with the exception of Xxxxxx X. Xxxxx, hereby acknowledge and affirm their agreement, as set forth in the Acquisition Agreement, to refrain from any sale or disposition of any of the Shares prior to January 1, 1999; however, this limitation shall not apply to Xxxxxx X. Xxxxx.
Limitation on Resale. BUYER’S intended use of the Property is for the public purpose of providing homeless services and affordable housing. If BUYER sells the property within thirty-six (36) months after the Closing to an unaffiliated person or entity for any use other than the public purpose of providing homeless services and affordable housing, BUYER shall pay to CITY the net profit from the sale. The “net profit from the sale” shall mean the gross sale price less direct and usual and customary costs of sale, and less the Purchase Price under this Agreement. “Usual and customary costs of sale” may be reflected in a closing statement associated with the sale, and may include without limitation such costs as title and escrow fees, documentary transfer taxes, and a brokerage fee if paid to a licensed third party real estate broker unaffiliated with BUYER. Usual and customary costs of sale shall not include any commission, disposition fee, or rebates, and or direct payment of BUYER’S broker/consultant fees paid to BUYER or any other compensation paid to BUYER or any person or entity affiliated with BUYER.
15.1. The foregoing limitation on resale shall not apply to a resale of the parking garage portion of the Property.
15.2. Within the thirty-six (36) months following the Closing, if BUYER is required to provide a subsidy for the development of all or any portion of the Property, and subsequently sells all or any portion of the Property which has benefitted from the subsidy, then for purposes of calculating the net profit from the sale, the amount of the subsidy allocable to all or any portion of the Property that is being sold, shall be offset against the gross sales price.
