Preservation Program Occupancy Qualifications Sample Clauses

Preservation Program Occupancy Qualifications. For so long as the HAP Contract is in effect all of the units in the development must be occupied or available for occupancy by households whose incomes do not exceed the lesser of the income limits established by HUD for the HAP Contract *** (***) of the units in this development (*** ***-bedroom and *** ***-bedroom units) (the “***Percent Units”) must be occupied or available for occupancy by households whose incomes do not exceed the 60% income limit for Multifamily Tax Subsidy Projects (the “Sixty Percent Units”) as determined by HUD with respect to projects financed pursuant to Code Section 142(d) as amended by the Housing and Economic Recovery Act of 2008 (P.L. 110-289) ("MTSP Limits"), adjusted for family size. *** (***) of the units in this development (*** ***-bedroom and *** ***-bedroom units) (the “***Percent Units”) must be occupied or available for occupancy by households whose incomes do not exceed [if other units are at 50% of median income] the MTSP Limits Very Low Income limit, adjusted for family size [if the limit is other than 50%] ***% of area median gross income based upon the MTSP Limits, adjusted for family size. These restrictions shall remain in effect for the longest of the period the Mortgage Loan is outstanding, the time required under the Low Income Housing Tax Credit (“LIHTC”) Program Regulatory Agreement or fifty (50) years after closing of the Mortgage.
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Related to Preservation Program Occupancy Qualifications

  • Professional Qualifications It shall be a condition of continued professional employment that employees must apply for enrolment in their appropriate professional licensing body by the thirtieth day of continuous service.

  • Asset Improvement 5. (a) The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including any related interest of the borrower, who is obligated to the Bank in any manner on any extension of credit or portion thereof that has been charged off by the Bank or classified, in whole or in part, “loss” in the Report of Examination or in any subsequent report of examination, as long as such credit remains uncollected.

  • Personnel Qualifications Contractor shall assign properly qualified and experienced personnel to the program contemplated under this Agreement, and Contractor shall use reasonable efforts to retain such personnel on Customer’s program for the duration of such program.

  • Promotions Requiring Higher Qualifications Consideration for promotion shall be given to the senior applicant who does not possess the required qualifications but is presently obtaining such qualifications prior to filling the vacancy. At the discretion of the Employer, such an employee may be given a trial period to qualify within a reasonable length of time and will revert to her former position if the required qualifications are not met within such time.

  • Staff Qualifications a) CONTRACTOR shall ensure that all individuals employed, contracted, and/or otherwise hired by CONTRACTOR to provide classroom and/or individualized instruction or related services hold a license, certificate, permit, or other document equivalent to that which staff in a public school are required to hold in the service rendered consistent with Education Code section 56366.1(n)(1) and are qualified pursuant to Title 5 of the California Code of Regulations sections 3064 and 3065.

  • County Review and Approval of Insurance Requirements The County reserves the right to review and adjust the Required Insurance provisions, conditioned upon County’s determination of changes in risk exposures.

  • Upgrading Qualifications ‌ Where the Employer requires an employee to upgrade their skills or qualifications in order to operate or maintain new equipment, the cost of training and normal living and travel expenses as laid down in this agreement will be borne by the Employer.

  • What Are the Qualifications for Charitable Donations The Pension Protection Act of 2006 allows Xxxx XXX holders who are RMD age or older at the time of a distribution to annually exclude qualified charitable distribution amounts up to $100,000 per year from gross income. The provision was made permanent by the PATH Act of 2015. A qualified charitable distribution must be made payable directly to the qualified charity as described in Section 170(b) of the Internal Revenue Code. Distributions from SEP or SIMPLE IRAs do not qualify for this type of designation.

  • PERFORMANCE AND RESPONSIBILITY QUALIFICATIONS The Commissioner reserves the right to investigate or inspect at any time whether or not the Product, services, qualifications or facilities offered by the Bidder/Contractor meet the requirements set forth in the Bid Specifications/Contract or as set forth during Contract negotiations. Contractor shall at all times during the Contract term remain responsible and responsive. A Bidder/Contractor must be prepared, if requested by the Commissioner, to present evidence of legal authority to do business in New York State, integrity, experience, ability, prior performance, organizational and financial capacity as well as where applicable, a statement as to supply, plant, machinery and capacity of the manufacturer or source for the production, distribution and servicing of the Product offered/Bid. If the Commissioner determines that the conditions and terms of the Bid Documents, Bid Specifications or Contract are not complied with, or that items, services or Product proposed to be furnished do not meet the specified requirements, or that the legal authority, integrity experience, ability, prior performance, organization and financial capacity or facilities are not satisfactory, the Commissioner may reject such Bid or terminate the Contract.

  • Performance Qualifications The Buyer reserves the right to investigate or inspect at any time whether the product, qualifications, or facilities offered by Respondent meet the Contract requirements. Respondent shall at all times during the Contract term remain responsive and responsible. In determining Respondent’s responsibility as a vendor, the agency shall consider all information or evidence which is gathered or comes to the attention of the agency which demonstrates the Respondent’s capability to fully satisfy the requirements of the solicitation and the contract. Respondent must be prepared, if requested by the Buyer, to present evidence of experience, ability, and financial standing, as well as a statement as to plant, machinery, and capacity of the respondent for the production, distribution, and servicing of the product bid. If the Buyer determines that the conditions of the solicitation documents are not complied with, or that the product proposed to be furnished does not meet the specified requirements, or that the qualifications, financial standing, or facilities are not satisfactory, or that performance is untimely, the Buyer may reject the response or terminate the Contract. Respondent may be disqualified from receiving awards if respondent, or anyone in respondent’s employment, has previously failed to perform satisfactorily in connection with public bidding or contracts. This paragraph shall not mean or imply that it is obligatory upon the Buyer to make an investigation either before or after award of the Contract, but should the Buyer elect to do so, respondent is not relieved from fulfilling all Contract requirements.

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