Common use of Operation of Residential Apartments Clause in Contracts

Operation of Residential Apartments. At all times following the completion of the Improvements, the Borrower shall operate the Improvements as residential rental units for occupancy by Eligible Tenants. The Borrower shall not discontinue the operation of the Property as residential rental units for Eligible Tenants. The City shall have the right to approve all managing agents employed by the Borrower to manage and operate the Property, which approval shall not be unreasonably withheld.

Operation of Residential Apartments. At all times following the completion of the Improvements, the Borrower shall operate the Improvements as residential rental units for occupancy by Eligible Tenants. The Borrower shall not discontinue the operation of the Property as residential rental units for Eligible Tenants. The City shall have the right to approve all managing agents employed by the Borrower to manage and operate the Property, which approval shall not be unreasonably withheld. The City recognizes Woodland Associates, Inc. as the current approved management agent.

Operation of Residential Apartments. At During the term of the loan, at all times following the completion of the ImprovementsImprovements of 80 affordable units, the Borrower shall operate the those Improvements as residential rental units for occupancy by Eligible Tenants. The Borrower shall not discontinue the operation of the Property as residential rental units for Eligible Tenants. The City shall have the right to approve all managing agents employed by the Borrower to manage and operate the Property, which approval shall not be unreasonably withheldwithheld or delayed.

Operation of Residential Apartments. At During the term of the loan, at all times following the completion of the ImprovementsImprovements of 60 affordable units, the Borrower shall operate the those Improvements as residential rental units for occupancy by Eligible Tenants. The Borrower shall not discontinue the operation of the Property as residential rental units for Eligible Tenants. The City shall have the right to approve all managing agents employed by the Borrower to manage and operate the Property, which approval shall not be unreasonably withheldwithheld or delayed.

Operation of Residential Apartments. At all times following During the completion Period of the ImprovementsAffordability, the Borrower (1) shall operate the Improvements HOME Units as residential rental units for occupancy by Eligible Tenants. The Borrower , and (2) shall not discontinue the operation of the Property HOME Units as residential rental units for Eligible Tenants. The City shall have the right to approve all managing agents employed by the Borrower to manage and operate the Property, which approval shall not be unreasonably withheldwithheld or delayed.