Notting Hill Housing Trust Sample Clauses

Notting Hill Housing Trust. Development Partnership Agreement relating to sale and development of the Aylesbury Estate Southwark Eversheds LLP One Xxxx Xxxxxx Xxxxxx XX0X 0XX Tel 0000 000 0000 Fax 0000 000 0000 Int +00 00 0000 0000 DX 154280 Cheapside 8 xxx.xxxxxxxxx.xxx Clause Page 1 INTERPRETATION 1 2 OBJECTIVES AND THE BUSINESS PLAN 44 3 DEVELOPER’S WARRANTIES 45 4 CONDITIONS PRECEDENT AND XXXX XXXXXXXXXXXXXX 00 0 XXXXXXXXXXX 00 0 PHASING 50 7 FINANCIAL PROVISIONS 51 8 LICENCE TO OCCUPY 51 9 INSURANCE 52 10 LIMITATION OF DEVELOPER’S LIABILITY 55 11 DEVELOPER’S INDEMNITY 56 12 TAX 57 13 DEFAULT 58 14 DETERMINATION OF DISPUTES 59 15 CONFIDENTIALITY AND FREEDOM OF INFORMATION 63 16 DATA PROTECTION 63 17 DEALINGS 63 18 NON-ADOPTED SHARED SPACE AND COUNCIL WORKS 64 19 SUSTAINABILITY 64 20 INTERIM USES 64 21 EFFECT OF THIS AGREEMENT 65 22 TERMINATION 65 23 STATE AID 68 24 STATUTORY POWERS 68 25 EXCLUSION OF LANDLORD AND TENANT XXX 0000 SECURITY OF TENURE 68 26 TUPE 69 27 INCORPORATION OF SCHEDULES 69 28 ENFORCEMENT 69 29 VARIATIONS 69 30 EXECUTION 69 Schedules 1 Collaboration and Steering Group procedure 71 1 Definitions 71 2 Steering Group 73 3 Implementation Group 76 4 Design Requirements and Appointment of Design Director 78 5 Business Plan and Change Control 78 6 Change Procedure 79 2 Longstop Dates and Milestones 81 3 Minimum Requirements 83 4 Financial provisions 86 PART 1- PAYMENT PROVISIONS 98 1 First Development Site – Deposit, Fixed Payments Sales Overage and other Payments 98 2 Subsequent Plots after the First Development Site 104 3 General Financial Payments 110 4 Public Sector Funding 111 5 Private Rental Units 112 7 Legal Charge 113 8 General Financial Provisions 114 PART 2- OVERAGE AND PUBLIC SECTOR FUNDING WORKED EXAMPLES 114 5 Development Receipts and Development Costs 118 PART 1: DEVELOPMENT ACCOUNT 119 1 Development Account 119 2 Cashflow statement 121 PART 2: DEVELOPMENT COSTS 121 1 Development Costs 121 2 Property acquisition 122 3 Planning 122 4 Development Works 122 5 Professional fees 123 6 Insurance 124 7 Sales and Letting costs 124 8 Interim Uses Costs 125 9 Other costs 125 11 Registered Provider Contribution 126 PART 3: DEVELOPMENT RECEIPTS 127 6 Viability Condition 128 1 Definitions 128 PART 1 132 1 The Development Viability Condition 132 PART 2 132 3 The Plot Final Viability Condition 133 4 Viability Test 133 7 Funding Condition 138 1 Funding Condition 138 2 The Developer’s Obligations 138 3 Waiver 139 8 Planning Condition 140 PART 1: PLANNING PERMISSION 140...
Sample 1
AutoNDA by SimpleDocs

Related to Notting Hill Housing Trust

  • Real Estate Investment Trust Commencing with its taxable year ended December 31, 2009, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and its proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code.

  • Trust Not a Partnership This Declaration creates a trust and not a partnership. No Trustee shall have any power to bind personally either the Trust's officers or any Shareholder.

  • Residential Funding Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Company and any successor thereto.

  • Affordable Housing Owner shall set aside and reserve ten percent (10%) of the total multifamily residential units located in the Project as affordable housing units consistent with the terms set forth herein, for Income Eligible Residents earning in the aggregate no more than sixty percent (60%) of AMI. The published income limits will be adjusted by household size. The income limits will be adjusted annually according to the HUD published limits. To that end, no fewer than the number of multifamily units in the Project set forth in the table below shall, pursuant to the terms and conditions of a Land Use Restriction Agreement (i.e., the “XXXX”) in substantially the form attached hereto as “Attachment 1” to this Schedule P and incorporated herein by reference. Capitalized terms used but not defined in this Schedule but which are defined in the XXXX shall have the same meaning herein as therein. Each Phase of the Project shall have no few than the number of Affordable Housing Units allocated to it in in the table below. The table is as follows: PHASES AFFORDABLE HOUSING UNITS ALLOCATED TO PHASE PHASE 1 446 PHASE 2 300 PHASE 3 240 986 PRO FORMA TOTAL MULTIFAMILY UNITS IN THE PROJECT 10% 99 TOTAL AFFORDABLE UNITS Each such Affordable Unit in a Phase will be made available for a period of time not less than twenty (20) years following the date on which the last multifamily building of a Phase receives a permanent certificate of occupancy (each, an “Affordable Housing Compliance Period”), to Income Eligible Residents as defined in the XXXX. Such requirements shall be referred to with respect to each Phase as the “Affordable Housing Requirements.” The foregoing Affordable Housing Requirements will be set forth in the XXXX in such form as is consistent with the then applicable practices of ACC for similar affordable housing transactions, provided that such form does not alter the Affordable Housing Requirements set forth in this Agreement, permits transferability and release consistent with Section 12.4 hereof, and does not increase the obligations of Owner, its successors and assigns. The current form of XXXX is attached “Attachment 1” to this Schedule P. Upon approval of a subsequent form of XXXX by ACC and review and approval by the Owner consistent with the foregoing, the subsequent form of the XXXX may be affixed hereto as “Attachment 1” to this Schedule P without further amendment to this Agreement. The XXXX shall be recorded in the Athens-Xxxxxx County land records in customary fashion upon the submission of the initial and Requisition and shall be recorded only against the applicable parcel on which such units are constructed. The Affordable Housing Requirements are part of this Agreement, and the failure by Owner to comply with same shall be an Event of Default under this Agreement. The Affordable Housing Requirements shall terminate with respect to each such Phase of the Project, respectively, upon conclusion of the Affordable Housing Compliance Period for such Phase as set forth in the applicable XXXX. For purposes of compliance with O.C.G.A. §44-5-60, the parties understand and agree that no XXXX will have a period greater than 20 years, but that this Agreement shall automatically terminate upon the expiration of a XXXX if simultaneously therewith Owner does not enter into a new, replacement XXXX that extends for the lesser of 20 years or the period necessary that the 20 year Affordability Housing Requirements are satisfied on a cumulative basis.

  • Trust Not a Partnership; Taxation It is hereby expressly declared that a trust and not a partnership is created hereby. No Trustee hereunder shall have any power to bind personally either the Trust's officers or any Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Portfolio or, until the Trustees shall have established any separate Portfolio, of the Trust for payment under such credit, contract or claim; and neither the Shareholders, the Trustees, nor the Trust's officers nor any of the agents of the Trustees whether past, present or future, shall be personally liable therefor. It is intended that the Trust, or each Portfolio if there is more than one Portfolio, be classified for income tax purposes as an association taxable as a corporation, and the Trustees shall do all things that they, in their sole discretion, determine are necessary to achieve that objective, including (if they so determine), electing such classifications on Internal Revenue Form 8832. The Trustees, in their sole discretion and without the vote or consent of the Shareholders, may amend this Agreement to ensure that this objective is achieved.

  • Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • U.S. Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • REIT A “real estate investment trust” under Sections 856 through 860 of the Code or as may be amended. Sale or Sales. Any transaction or series of transactions whereby: (i) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys, or relinquishes its ownership of any Real Property or portion thereof, including the lease of any Real Property consisting of a building only, and including any event with respect to any Real Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (ii) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest of the Corporation or the Operating Partnership in any Joint Venture in which it is a co-venturer or partner; (iii) any Joint Venture directly or indirectly (except as described in other subsections of this definition) in which the Company or the Operating Partnership as a co-venturer or partner sells, grants, transfers, conveys, or relinquishes its ownership of any Real Property or portion thereof, including any event with respect to any Real Property which gives rise to insurance claims or condemnation awards; or (iv) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, conveys or relinquishes its interest in any Real Estate Related Asset or portion thereof (including with respect to any Mortgage, all payments thereunder or in satisfaction thereof other than regularly scheduled interest payments) of amounts owed pursuant to such Mortgage and any event which gives rise to a significant amount of insurance proceeds or similar awards; or (v) the Company or the Operating Partnership directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys, or relinquishes its ownership of any other asset not previously described in this definition or any portion thereof, but not including any transaction or series of transactions specified in clauses (i) through (v) above in which the proceeds of such transaction or series of transactions are reinvested by the Company in one or more assets within 180 days thereafter.

  • Portfolio The portfolio is due by the end of the 12th week.

  • PORTFOLIO HOLDINGS The Adviser will not disclose, in any manner whatsoever, any list of securities held by the Portfolio, except in accordance with the Portfolio’s portfolio holdings disclosure policy.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!