Maximum Sales Price Sample Clauses

Maximum Sales Price. The purchase price for the sale of the Home by the Owner to the Eligible Purchaser shall not exceed the Maximum Restricted Resale Price calculated by the City pursuant to Section 11 above, as set forth in the City Response Notice. The closing costs paid by the Eligible Purchaser shall not exceed reasonable customary buyer's closing costs in the County of Alameda. Additionally, the loans or other financing that the Eligible Purchaser uses to purchase the homes must be reasonably acceptable to the City and in furtherance of the goals of the City's affordable housing programs. Negative amortization loans, purchase money loans with interest only payments, purchase money loans with balloon payments or other purchase money loans that, as determined by the City, may cause the Eligible Purchaser's monthly housing cost to exceed the Affordable Cost at any time during the term of such loans shall not be permitted.
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Maximum Sales Price. The purchase price for the sale of the Home by the Owner to the Eligible Purchaser shall not exceed the Maximum Restricted Resale Price calculated by the City pursuant to Section 13 above, as set forth in the First City Response Notice.
Sample 1Sample 2
Maximum Sales Price. The sale price of each For Sale Affordable Unit upon an initial Sale shall not exceed (the “Maximum Sales Price”) an amount that is affordable to a Household with an Annual Household Income at the Designated Affordability Level, adjusted by the Occupancy Standard Factor, spending not more than thirty percent (30%) of their Annual Household Income on Housing Cost. The Housing Cost includes mortgage payments, property taxes, condominium and homeowner fees, and hazard insurance, if applicable, and shall be calculated in accordance with Schedule 2 attached hereto and incorporated herein. The Agency shall approve the Maximum Sales Prices for each For Sale Affordable Unit prior to the marketing and sale of such For Sale Affordable Unit.
Sample 1
Maximum Sales Price. The Maximum Sales Price for the Below Market Rate Homes shall be determined by the City in accordance with the City’s BMR Policies and Procedures provided maximum pricing for each home type shall be as set forth below: (i) The Maximum Sales Price for Moderate Income Townhomes shall not exceed the purchase price that would result in a monthly Housing Cost not exceeding thirty-five percent (35%) of One Hundred Twenty Percent of Area Median Income. (ii) The Maximum Sales Price for the Workforce Townhomes shall not exceed the purchase price that would result in a monthly Housing Cost not exceeding thirty-five percent (35%) of One Hundred Thirty Five Percent (135%) of Area Median Income. (iii) The Maximum Sales Price for the Workforce Cottages shall not exceed the purchase price that would result in a monthly Housing Cost not exceeding thirty-five percent (35%) of One Hundred Fifty Percent (150%) of Area Median Income. (iv) The Maximum Sales Price for the Bridge Homes shall not exceed the purchase price that would result in a monthly Housing Cost not exceeding forty percent (40%) of One Hundred Fifty Percent (150%) of Area Median Income.
Sample 1
Maximum Sales Price. The sale price of each For Sale Affordable Unit upon an initial Sale shall not exceed (the “Maximum Sales Price”) an amount that is affordable to a Household with an income at the Designated Affordability Level, adjusted by the Occupancy Standard Factor, spending not more than thirty percent (30%) of their Annual Household Income on Housing Cost. The Housing Cost includes mortgage payments, property taxes, condominium and homeowner fees, and hazard insurance, if applicable. The Agency shall approve the Maximum Sales Prices for each For Sale Affordable Unit prior to the marketing and sale of such For Sale Affordable Unit.
Sample 1
Maximum Sales Price. The purchase price for the sale of the Home by the Owner to the Eligible Purchaser shall not exceed the Maximum Restricted Resale Price calculated by the City pursuant to Section 11 above, as set forth in the City Response Notice. The closing costs paid by the Eligible Purchaser shall not exceed reasonable customary buyer's closing costs in the County of Contra Costa.
Sample 1
Maximum Sales Price. The sale price of each For Sale Affordable Unit upon an initial Sale shall not exceed an amount (the “Maximum Sales Price”) that is affordable to a Household with an Annual Household Income at the Designated Affordability Level, adjusted by the Occupancy Standard Factor, spending not more than thirty percent (30%) of their Annual Household Income on Housing Cost. The Housing Cost includes mortgage payments, property taxes, condominium and homeowner fees, and hazard insurance, if applicable, and shall be calculated in accordance with Schedule 2 attached hereto and incorporated herein. The Developer shall submit to the Agency the proposed sales price for each For Sale Affordable Unit for approval prior to the marketing and sale of such For Sale Affordable Unit. In no event shall the Maximum Sale Price exceed the amount required under HPTF program guidelines.
Sample 1
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Maximum Sales Price. In no event shall the Subject Property be sold for an amount ("Maximum Sales Price") in excess of the Initial Sales Price plus the percentage increase per year of the average wage for Eagle County as determined by the Colorado Department of Labor and Employment. A. If the percentage increase in the average wage for Eagle County as determined by the Colorado Department of Labor and Employment is greater than three (3)% in a given year, the percentage increase which an Owner may claim for purposes of determining Maximum Sales Price shall be three (3)% for that year. i. In the event that an Owner owns a Subject Property for only a portion of any year, the percentage increase shall be prorated quarterly, from purchase date, and the Owner shall be given credit through the quarter in which the sale is initiated. ii. If there is no increase in the average wage for Eagle County as determined by the Colorado Department of Labor and Employment, the percentage increase which an Owner may claim for purposes of determining Maximum Sales Price shall be zero (0)% for that year. iii. The parties agree that there may be a delay in the publication of statistics from the Colorado Department of Labor and Employment. Therefore, the calculation of Maximum Sales Price shall be based upon the most current available data. If data for the year of sale is not available then the Owner shall rely on the most current full year’s data that is available for purposes of calculating the Maximum Sales Price. iv. In the event that the Colorado Department of Labor and Employment no longer publishes the average wage for Eagle County, the Eagle County Board of County Commissioners shall identify a similar indicator from a reliable source and shall provide notice to all Owners of the change. B. Permitted Capital Improvements shall not increase the Owner’s Initial Sales Price. For the purpose of determining the Maximum Sales Price, the Owner may add the following amounts: i. The cost of permitted capital improvements as set forth in the most current Eagle County Affordable Housing Guidelines and Eagle County Affordable Housing Guidelines: Administrative Procedures. ii. The cost of any permanent improvements constructed or installed as a result of any requirement imposed by any government agency or special assessment by a homeowner’s association for such permanent improvements, provided that written certification is provided to the ECHDA. C. Real estate sales fees as identified in the most current...
Sample 1
Maximum Sales Price. In no event shall the Property be sold for an amount (“Maximum Sales Price”) in excess of the price calculated as follows:
Sample 1

Related to Maximum Sales Price

  • SALES PRICE A. Cash portion of Sales Price payable by Buyer at closing $ B. Sum of all financing described in the attached:  Third Party Financing Addendum,  Loan Assumption Addendum,  Seller Financing Addendum $ C. Sales Price (Sum of A and B) $

  • Contract Sales Price The total consideration provided for in the sales contract for the sale of a Property.

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Intent to Limit Charges to Maximum Lawful Rate In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrower is and shall be liable only for the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such excess.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Maximum Payment The maximum period or aggregate of periods of accident make-up pay to be made by an Employer will be a total of 39 weeks for any one injury.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

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