Maximum Monthly Rent Sample Clauses

Maximum Monthly Rent. Except as otherwise stated in the Definition of Rent above, monthly rents for Affordable Units for Low Income households shall not exceed one-twelfth of thirty percent (30%) of eighty percent (80%) of Area Median Income. The monthly rents for the Affordable Units for the Moderate Income households shall not exceed one-twelfth of thirty percent (30%) of one hundred twenty percent (120%) of Area Median Income.
Sample 1
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Maximum Monthly Rent. The maximum monthly Rent chargeable for the Housing Units shall be annually determined by City in accordance with the following:
Sample 1
Maximum Monthly Rent. The maximum monthly rent chargeable for the Housing Units shall be annually determined by Authority in accordance with lesser and most restrictive of: (a) Section 92.252 of the HOME Regulations pursuant to the following formula: one-twelfth (1/12) of thirty percent (30%) of thirty percent (30%) of AMI as determined and published by HUD for a family of a size appropriate to the unit under the HOME Program and applicable Federal Program Limitations; or (b) California Health & Safety Code Section 50053(b)(1) pursuant to the following formula: the product of thirty percent (30%) times thirty percent (30%) of AMI as determined and published by HUD for a family of a size appropriate to the unit, which for one-bedroom Housing Units at the Project means a maximum occupancy of two (2) persons and a minimum occupancy of one (1) person, and for two-bedroom Housing Units at the Project means a maximum occupancy of four () persons and a minimum occupancy of two (2) persons. As of the Date of Agreement, Affordable Rent for the one-bedroom Housing Units at the Project based on a household size of two (2) persons is $555. The current Affordable Rent for the two-bedroom Housing Units at the Project based on a household size of three (3) persons is $623. Such amounts are subject to annual re-adjustment pursuant to income levels adopted and published by HUD as to the HOME Program and HCD as to State law. For purposes of this Agreement, ―Affordable Rent‖ means the total of monthly payments for (a) use and occupancy of each Housing Unit and land and facilities associated therewith, (b) any separately charged fees or service charges assessed by Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, or cable TV or internet services, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer. In the event that Developer rents a Housing Unit to a household holding a portable Section 8 rental voucher, the rental agreement between Developer, as landlord, and the tenant shall expressly provide that monthly rent charged shall be the Affordable Rent required under this Agreement (not fair market ren...
Sample 1
Maximum Monthly Rent. The maximum monthly rent chargeable for the Housing Units shall be annually determined by Agency in accordance with lesser and most restrictive of: (a) Section 92.252 of the HOME Regulations pursuant to the following formula: one-twelfth (1/12) of thirty percent (30%) of thirty percent (30%) of AMI as determined and published by HCD for a family of a size appropriate to the unit under the HOME Program and applicable Federal Program Limitations; or (b) California Health & Safety Code Section 50053(b)(1) pursuant to the following formula: the product of thirty percent (30%) times thirty percent (30%) of AMI as determined and published by HCD for a family of a size appropriate to the unit, which for two- bedroom Housing Units at the Project means a presumed household size of three (3) persons. The current Affordable Rent for the Housing Units at the Project is Six Hundred Twenty-Seven Dollars ($627.00). Such amount is subject to annual re-adjustment pursuant to income levels adopted and published by HUD as to the HOME Program and HCD as to State law.
Sample 1
Maximum Monthly Rent. The maximum monthly rent chargeable to a Qualified Tenant for Affordable Units shall be the maximum rent published by TCAC for a "50% AMI Very Low Income Household" in Orange County for the applicable bedroom number. In the event that TCAC no longer publishes the income and rent information contemplated herein, then the HUD published income and rent information shall prevail. In the case that both cease to be published, CMHA and OCHA will provide Developer with other income and rent determinations which are reasonably similar with respect to methods of calculation to those previously published by TCAC, as applicable.
Sample 1

Related to Maximum Monthly Rent

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Percentage Rent In addition to the Base Rent, Lessee shall be: (check one) ☐ - Not required to make payments related to Lessee’s sales or revenue (“Percentage Rent”). ☐ - Required to pay __________________ percent (____%) of __________________ (gross sales, net sales, etc.). Such payment shall be made ☐ Monthly ☐ Quarterly ☐ Annually along with a receipt to show proof of percentage calculation (“Percentage Rent”). The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.”

  • Additional Rent In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

  • MINIMUM MONTHLY PAYMENT We will mail you a statement every month if your account has a balance. You agree that you will pay each month not less than the minimum monthly payment by the payment due date. The minimum monthly payment will be 3.0% for Classic accounts or 2% for Platinum accounts of your outstanding balance (“New Balance”) or $25.00, whichever is greater. If your outstanding balance is $25.00 or less, you agree to pay the balance in full. You may pay in full for all your purchases and cash advances each month, or you may repay in monthly installments. We can accept late payments or partial payments, or checks, drafts, or money orders marked “payment in full” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. A credit posting from a merchant or reversal of fees do not constitute a minimum payment. The minimum monthly payment may be allocated at the Credit Union’s discretion to pay off lower rate balances, such as promotional offers, before higher rate balances, such as cash advances or purchases. Payments in excess of the minimum monthly payment will be allocated first to higher rate balances, as applicable. From time to time, we may allow you to skip your minimum monthly payment due. If you choose to skip that payment, Finance Charges will continue to accrue in accordance with this Agreement. Payments received at: Rogue Credit Union, XX Xxx 0000, Xxxxxxx, XX 00000 on or before 5:00 PM Pacific Time on any business day will be credited to your Account as of that date; payments received by mail at that address after 5:00 PM Pacific Time or on a weekend will be posted to your Account as of the next business day. Payment crediting to your Account may be delayed up to five days if your payment is received by mail at any other address or not accompanied by the remittance portion of your Account statement.

  • Annual Rent LESSEE covenants and agrees to pay as rent to LESSOR the sum of ($ ) for the first year of this lease which shall be due at the time of approval by the Board of Education. Subsequent payment of annual rent shall be due on or before the anniversary date of this Lease Agreement. The obligation of LESSEE to pay rent under this Lease Agreement is unconditional, and the rent shall not be subject to set off for any reason or cause. LESSOR and LESSEE agree that in the event of termination or cancellation, any rental payment made during the term of this Lease Agreement is not refundable, and LESSEE waives any right or claim it may have to refund of rent paid. Rents shall be adjusted annually pursuant to the rent adjustment clause contained in Paragraph 3 of this Lease Agreement. In the event LESSEE is delinquent in the payment of rent, LESSEE shall pay a late charge equal to fifteen percent (15%) of the amount of rent past due for more than 30 days and thereafter shall pay interest on any rent past due at an annual rate (the "Default Rate") equal to the maximum rate then allowed by law or, if there is no maximum rate, then a rate equal to five percent per annum above the discount rate, excluding any surcharge thereon, on ninety-day commercial paper in effect at the Federal Reserve Bank in the Federal Reserve district in which LESSOR is located, calculated according to the actuarial method.

  • RENTAL DURATION 3.1 Rental days are calculated on a calendar day basis. When calculating the number of days the Vehicle is rented, the day of pick-up is counted as day one of the rental, regardless of pick-up time. The day of the Vehicle’s return is counted as the final day of the rental regardless of drop-off time.

  • Minimum Charge The minimum charge against accumulated vacation leave shall be fifteen (15) minutes. Vacation leave shall be compensated at the employee’s base rate of pay, except as otherwise provided in this Agreement.

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