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Ownership Agreement Sample Clauses

Ownership Agreement. At a min- imum, the ownership agreement must include the following clauses: (1) The owner(s) agrees to make the units repaired or rehabilitated avail- able for occupancy to very low- or low- income persons for a period of not less than 5 years, such restrictive period be- ginning on the date agreed upon in the agreement between the grantee and the rental property owner(s) or co-op. (2) The owner(s) agrees to pass on to the tenants any reduction in the debt service payments resulting from the HPG assistance provided by the HPG grantee to the owner(s). (3) The owner(s) of rental properties agrees not to convert the units to con- dominium ownership. In the case of co- ops, the owner(s) agrees not to convert the dwelling(s) to condominium owner- ship or any form of cooperative owner- ship not eligible under this section. This paragraph (a)(3) is subject to the restrictive period noted in paragraph (a)(1) of this section. (4) The owner(s) agrees not to refuse to rent a unit to any person solely be- cause the person is receiving or is xxxxx- ble to receive assistance under any Federal, State, or local housing assist- ance program. (5) The owner(s) agrees that the units repaired or rehabilitated will be occu- pied or available for occupancy by per- sons of very low- or low-income. (6) The owner(s) agrees to enter into and abide by written leases with the tenants and that such leases shall pro- vide that the tenants may be evicted only for good cause. (7) The owner(s) agrees that, in the event the owner(s) or the owner’s suc- cessors in interest fail to carry out the requirements of this section during the applicable period, they shall make a payment to Rural Development in an amount that equals the total amount of assistance provided by the grantee plus interest thereon (without compounding) for each year and any fraction thereof that the assistance was outstanding. The interest rate shall be that as determined by Rural Development at the time of infraction taking into account the average yield on outstanding marketable long-term obligations of the United States during the month preceding the date on which the assistance was initially made available. (8) The owner(s) agrees that, notwith- standing any other provisions of law, the HPG assistance provided to the owner(s) shall constitute a debt which is payable in the case of any failure of this section and shall be secured by a security instrument provided by the owner(s) or co-op to the grantee, that provides for...
Ownership Agreement. The IP Program (as defined in the IP Ownership Agreement) and each of the following relating to the IP Program, in whole or in part, including earlier versions of the IP Program and versions of the IP Program currently under development: all databases and data collections, server and client side web scripts, computer programs, software (including all source code and object code), tools, models, firmware, algorithms and implementations thereof, development tools, flow charts, programmers’ annotations and notes, documentation, product designs and product specifications and documentation, product user manuals, and other work product used to design, plan, organize, maintain, support or develop the IP Program, and all copies of the foregoing, irrespective of the media on which it is recorded.
Ownership Agreement. Manager has received a copy of Owner's ------------------- Agreement of Limited Ownership (the "Ownership Agreement") and is familiar with the terms thereof. Manager shall use reasonable care to avoid any act or omission which, in the performance of its duties hereunder, shall in any way conflict with the terms of the Ownership Agreement.
Ownership AgreementAn agreement made and executed this day of , , by and between and and hereafter referred to as co-owners. The co-owners agree to form a co-ownership to purchase as tenants in common a airplane, registration number N , and for operating the airplane for the co-owners’ business or pleasure. The co-owners agree to operate the airplane in accordance with FAA regulations. This co-ownership shall commence on , , and shall continue until termination by mutual agreement. The co-ownership shall be limited to co- owners. Written consent of all co-owners is required before additional persons can purchase any share of the airplane. If a co-owner has more than an equal share in the co-ownership, he is restricted to one vote on matters that require a vote. Each co-owner shall contribute initial capital in the sum of $ to the co- ownership. This capital is the beginning balance of each co-owner’s capital account and shall be periodically adjusted in accordance with this agreement. Individual capital accounts shall be kept for each co-owner and shall represent the ENTIRE value of his interest. The Capital account shall consist of his capital contribution, increased or decreased on the Valuation Date due to changes in the value of the co-ownership assets. The value of the co-ownership assets shall be determined at a minimum of once each year. The co-owners shall contribute a monthly sum in the amount of $ for regular, fixed costs, tie-down rent, inspections, taxes and insurance. This sum shall be subject to review at the review date. Each co-owner shall pay to the co-ownership account an hourly fee of $ for each hour used by that co-owner. This fee is for operation of the airplane and does not include the cost of fuel. The co-ownership joint account shall initially provide a full supply of fuel and oil. Cost of fuel and oil used for maintenance and repairs shall be borne by the next co-owner to fly the airplane unless excessive. If excessive, the cost of operating the airplane for maintenance purposes shall be borne by the co-ownership. A minimum of dollars ($ ) shall be maintained in a co- ownership fund, and shall be replenished monthly and equally by all co-owners. Out of this fund all fixed expenses will be paid. The fixed expenses are, but not limited to, tie-down at home, insurance, reserves for annual and other required inspections, licensing and taxes. A monthly fixed fee, exclusive of flight time, of $ shall be paid into the co-owners account as of the first of ea...
Ownership Agreement. The Ownership Agreement contains provisions governing the rights, duties and relationships of the Company with the other owner of the Plant. The rights and interests of the Issuer with respect to the Project and this Sublease shall be subject to and subordinate to the provisions of the Ownership Agreement as the same may be amended from time to time.
Ownership Agreement. Subsection 3.1 is amended by deleting “the portion of the area covered by the coal leases in which Idaho and Pacific hold undivided interests pursuant to Section 5 of this Agreement” and “the Coal Supply System”.
Ownership Agreement. Submit completed form F245-346-000, page 2.
Ownership Agreement. Educational Course Materials
Ownership AgreementThe agreement that defines the relationship between the consumer and co-owner and the parties' respective rights under a Sharia Mortgage Loan, including their respective rights with respect to the indicia of ownership of the related Mortgaged Property.