Redetermination of Rent and Family Composition Sample Clauses

Redetermination of Rent and Family Composition a. For households under the income based rent, regular redetermination of rent and eligibility shall be made on an annual basis. The annual date is the first of the month of which the tenant moved in. i. During the annual redetermination of rent appointment, the tenant(s) agree to furnish DMMHA information and certifications regarding income and family composition according to the Admissions and Continued Occupancy Plan (ACO) and HUD regulations. b. For households under the income based rent, interim redetermination of rent and eligibility will occur when the tenant(s) experience a change in family composition or income which would justify a reduction or increase in rent, as provided by the ACO. i. During the redetermination of rent appointment, the tenant(s) agree to furnish DMMHA information and certifications regarding income and family composition according to the Admissions and Continued Occupancy Plan (ACO) and HUD regulations. c. For households under the flat rent option, the tenant(s) family composition will be updated annually. Flat rent households are not afforded the interim determination of rent unless requested by the family due to a decrease in income in accordance with the ACO. i. For households under the flat rent option, the regular redetermination of rent and eligibility shall be made once every three (3) years. The annual date is the first of the month of which the tenant moved in. ii. During the redetermination of rent appointment, the tenant(s) agree to furnish DMMHA information and certifications regarding income and family composition according to the Admissions and Continued Occupancy Plan (ACO) and HUD regulations.
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Redetermination of Rent and Family Composition. The lease shall provide for redetermination of rent and family composition which shall include: (1) The frequency of regular rental redetermination and the basis for in- terim redetermination. (2) An agreement by the tenant to furnish such information and certifi- cations regarding family composition and income as may be necessary for the PHA to make determinations with re- spect to rent, eligibility, and the ap- propriateness of dwelling size. (3) An agreement by the tenant to transfer to an appropriate size dwelling unit based on family composition, upon appropriate notice by the PHA that such a dwelling unit is available. (4) When the PHA redetermines the amount of rent (Total Tenant Payment or Tenant Rent) payable by the tenant, not including determination of the PHA’s schedule of Utility Allowances for families in the PHA’s Public Hous- ing Program, or determines that the tenant must transfer to another unit based on family composition, the PHA shall notify the tenant that the tenant may ask for an explanation stating the specific grounds of the PHA determina- tion, and that if the tenant does not agree with the determination, the ten- ant shall have the right to request a hearing under the PHA grievance pro- cedure.
Sample 1
Redetermination of Rent and Family Composition. A. The Housing Authority shall conduct, at a time it designates, an annual re- examination of the Resident's family composition and income (annual re- examinations will also include a criminal background check) for the purpose of redetermining rent and unit size. At admission and each year in preparation for their annual reexamination, each family is offered the Family Choice of Rent Amount option. Each family is given the choice of having their rent determined under the income-based method or having their rent set as the flat rent amount. The schedule of flat rent is posted in each Management Office. Families that opt for the flat rent may request to return to the income-based method at any time. (1) Changes in household income of $40.00 per month (Income Based Method only) must be reported within ten (10) days of its occurrence. (2) An increase in household income of less than $40.00 per month reported by residents will not be processed, however, the information will be placed in the resident’s file and considered during the next annual reexam. Decreases in income that are verified to last less than thirty (30) days will not be processed except in the case of requests for hardship exemptions. (3) When the Housing Authority re-determines the amount of monthly rent payable by the Resident, the Housing Authority will notify the Resident that s/he may ask for an explanation stating the specific grounds of the determination and stating that if the Resident does not agree with the determination, the Resident shall have the right to request a hearing under the Housing Authority’s Grievance Procedure. B. Annually, or at any time an interim adjustment of rent is required in accordance with the ACOP of the Housing Authority, the Resident agrees to provide, in the form prescribed by the Housing Authority, facts about the composition of his or her family, the ages of its members, and the income of its members. Failure to provide accurate information within the period of time or on the forms designated by the Housing Authority, or knowingly falsifying information at any time is a serious violation of the lease and constitutes grounds for termination of the lease. Also, if at any time it is found that the Resident's failure to provide accurate information or knowingly falsifying information has resulted in his/her paying a lower rent than he/she should have, he/she may be required to pay the difference between the rent he/she has been paying and the rent he/she should...
Sample 1
Redetermination of Rent and Family Composition. Each year, by the date specified by the HAP, Residents who are paying rent based upon their income shall provide updated information regarding income, assets, expenses, and family composition. The HAP shall verify the information supplied by the Resident and use the verified information to establish the amount of the Resident's rent for the next year. Failure to supply such information is a serious violation of the terms of this Lease for which HAP may seek to terminate the Lease. All information must be verified. Resident agrees to comply with the HAP's request for reexamination by signing releases for third-party sources, presenting documents for review, or providing other suitable forms of verification in a timely manner. The HAP shall give the Resident reasonable notice of what actions Residents must take and of the date by which such action must be taken for compliance under this section. This information will be used by the HAP to decide whether the amount of rent should be changed and whether the dwelling size is still appropriate for the Resident's needs. This determination will be made in accordance with the ACOP, which is publicly posted in the HAP's Office.
Sample 1

Related to Redetermination of Rent and Family Composition

  • Calculation of Rent All calculation of Rent payable hereunder shall be computed based on the actual number of days elapsed over a year of three hundred sixty (360) days or, to the extent such Rent is based on the Prime Lending Rate, three hundred sixty-five (365) (or three hundred sixty-six (366), as applicable) days.

  • Basis for Determining Interest Rate Inadequate or Unfair In the event that Agent or any Lender shall have determined that: (a) reasonable means do not exist for ascertaining the Eurodollar Rate applicable pursuant to Section 2.2 hereof for any Interest Period; or (b) Dollar deposits in the relevant amount and for the relevant maturity are not available in the London interbank Eurodollar market, with respect to an outstanding Eurodollar Rate Loan, a proposed Eurodollar Rate Loan, or a proposed conversion of a Domestic Rate Loan into a Eurodollar Rate Loan, then Agent shall give Borrowing Agent prompt written, telephonic or telegraphic notice of such determination. If such notice is given, (i) any such requested Eurodollar Rate Loan shall be made as a Domestic Rate Loan, unless Borrowing Agent shall notify Agent no later than 10:00 a.m. (New York City time) two (2) Business Days prior to the date of such proposed borrowing, that its request for such borrowing shall be cancelled or made as an unaffected type of Eurodollar Rate Loan, (ii) any Domestic Rate Loan or Eurodollar Rate Loan which was to have been converted to an affected type of Eurodollar Rate Loan shall be continued as or converted into a Domestic Rate Loan, or, if Borrowing Agent shall notify Agent, no later than 10:00 a.m. (New York City time) two (2) Business Days prior to the proposed conversion, shall be maintained as an unaffected type of Eurodollar Rate Loan, and (iii) any outstanding affected Eurodollar Rate Loans shall be converted into a Domestic Rate Loan, or, if Borrowing Agent shall notify Agent, no later than 10:00 a.m. (New York City time) two (2) Business Days prior to the last Business Day of the then current Interest Period applicable to such affected Eurodollar Rate Loan, shall be converted into an unaffected type of Eurodollar Rate Loan, on the last Business Day of the then current Interest Period for such affected Eurodollar Rate Loans. Until such notice has been withdrawn, Lenders shall have no obligation to make an affected type of Eurodollar Rate Loan or maintain outstanding affected Eurodollar Rate Loans and no Borrower shall have the right to convert a Domestic Rate Loan or an unaffected type of Eurodollar Rate Loan into an affected type of Eurodollar Rate Loan.

  • Borrower Information Used to Determine Applicable Interest Rates The parties understand that the applicable interest rate for the Obligations and certain fees set forth herein may be determined and/or adjusted from time to time based upon certain financial ratios and/or other information to be provided or certified to the Lenders by the Borrower (the “Borrower Information”). If it is subsequently determined that any such Borrower Information was incorrect (for whatever reason, including without limitation because of a subsequent restatement of earnings by the Borrower) at the time it was delivered to the Administrative Agent, and if the applicable interest rate or fees calculated for any period were lower than they should have been had the correct information been timely provided, then, such interest rate and such fees for such period shall be automatically recalculated using correct Borrower Information. The Administrative Agent shall promptly notify the Borrower in writing of any additional interest and fees due because of such recalculation, and the Borrower shall pay such additional interest or fees due to the Administrative Agent, for the account of each Lender, within five (5) Business Days of receipt of such written notice. Any recalculation of interest or fees required by this provision shall survive the termination of this Agreement, and this provision shall not in any way limit any of the Administrative Agent’s, the Issuing Bank’s, or any Lender’s other rights under this Agreement.

  • Method of Selecting Types and Interest Periods for New Advances The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than 11:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance and not later than 11:00 a.m. (Chicago time) three Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (i) the Borrowing Date, which shall be a Business Day, of such Advance, (ii) the aggregate amount of such Advance, (iii) the Type of Advance selected, and (iv) in the case of each Eurodollar Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address.

  • Manner of Borrowing Loans and Designating Applicable Interest Rates (a) Notice to the Administrative Agent. The Initial Advance shall be made by the Administrative Agent to the Borrower on the Original Closing Date following receipt of a Notice of Borrowing (as defined below) delivered by the Borrower to the Administrative Agent on or before the Original Closing Date. The single advance under the BDC BCAP Credit Facility shall be made by the Administrative Agent to the Borrower on the Closing Date following receipt of a Notice of Borrowing (as defined below) delivered by the Borrower to the Administrative Agent on or before the Closing Date. For all other Loans (other than Swing Loans), the Borrower shall give notice to the Administrative Agent by no later than 11:00 a.m. (Toronto time) at least one Business Day before the date of any proposed Borrowing in the form of a Prime Rate Loan or Base Rate Loan. The Loans included in each Borrowing shall bear interest initially at the rate contemplated in Section 2.8 and specified in such Notice of Borrowing. Thereafter, subject to the terms and conditions hereof, the Borrower may from time to time elect to change or continue the type of interest rate borne by each Borrowing or, subject to the minimum amount requirement for each outstanding Borrowing set forth in Section 2.9 hereof, a portion thereof. The Borrower shall give all such notices requesting the advance of a Borrowing to the Administrative Agent by telephone or facsimile (which notice shall be irrevocable once given and, if by telephone, shall be promptly confirmed in writing), substantially in the form attached hereto as Exhibit B (each, a "Notice of Borrowing") or Exhibit C (a "Notice of Continuation/Conversion"), as applicable, or in such other form acceptable to the Administrative Agent. All such notices concerning the advance, continuation or conversion of a Borrowing shall specify the date of the requested advance, continuation or conversion of a Borrowing (which shall be a Business Day), the amount of the requested Borrowing to be advanced, continued or converted, the type of Loans to comprise such new, continued or converted Borrowing. The Borrower agrees that the Administrative Agent may rely on any such notice via telephone, email or facsimile given by any person to the Administrative Agent in good faith believes is an authorized representative of the Borrower without the necessity of independent investigation, and in the event any such notice by telephone conflicts with any written confirmation such telephonic notice shall govern if the Administrative Agent has acted in reliance thereon.

  • Definition of Rent All costs and expenses which Tenant assumes or agrees to pay to Landlord under this Lease shall be deemed additional rent (which, together with the Base Rent is sometimes referred to as the "Rent"). The Rent shall be paid to the Building manager (or other person) and at such place, as Landlord may from time to time designate in writing, without any prior demand therefor and without deduction or offset, in lawful money of the United States of America.

  • Adjustment of Rent Lessee and Lessor agree that the payments and allocations of Basic Rent, Stipulated Loss Values, Stipulated Loss Amounts, Termination Values and Termination Amount percentages and the Early Purchase Price shall be adjusted to the extent provided in Section 2.6 of the Participation Agreement.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Fair Rental Value If a loss covered under Section I makes that part of the "residence premises" rented to oth- ers or held for rental by you not fit to live in, we cover the fair rental value of such premises less any expenses that do not continue while it is not fit to live in. Payment will be for the shortest time required to repair or replace such premises.

  • Suspension of Rent If the Property (or the means of access thereto) are unfit for occupation and use because of damage by an Insured Risk then (save to the extent that payment of the loss of rent insurance moneys is refused due to the act or default of the Tenant) the Principal Rent (or a fair proportion according to the nature and extent of the damage) shall be suspended until the date on which the Property is again fit for occupation and use and/or accessible.

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