Rental Subsidy. 53.1 An Employee who rents a property managed by the Employer shall receive a rental subsidy of two hundred fifty dollars ($250) per month.
Rental Subsidy. On [date of Closing] and on the first day of each month thereafter up to and including [ , 2005], Purchaser shall submit to Seller and Escrow Agent a certification (the “Leasing Certification”) in the form attached hereto as Exhibit A which specifies the amount of rental income for the current month attributable to the Vacant Space and such backup information as is reasonably required to verify such rental income. In the event such Leasing Certification reflects no rental income attributable to the Vacant Space for the then-current month, Escrow Agent shall, upon its receipt of such Leasing Certification, release to Purchaser an amount equal to $70,720.08 (the “Monthly Escrow Payment”) from the Escrowed Funds (prorated for any partial month). In the event that the Leasing Certification reflects rental income attributable to the Vacant Space for the then-current month, Escrow Agent shall, within five (5) days after its receipt of such Leasing Certification, (1) release to Purchaser an amount equal to the Monthly Escrow Payment less the amount of any rental income set forth in such Leasing Certification, and (2) release to Seller an amount equal to the rental income shown on the Leasing Certification. After payment of any amounts due and owing to Purchaser based upon the Leasing Certification received from Purchaser for the month of [ , 2005], Escrow Agent shall release the balance of the Escrowed Funds, if any, to Seller. “Rental Income” shall include any base-rent or additional rent payable during the current month by any tenants or occupants of any portion of the Vacant Space, including operating expenses and real estate tax payments.
Rental Subsidy. (i) It is the intent of the County and Grantee that each Very Low- Income Tenant who is MHSA Eligible is only obligated to pay thirty percent (30%) of such Tenant's actual income in Rent. The County and Grantee further intend that the difference between thirty percent (30%) of Tenant's actual income and the Rent charged by Grantee or the Master Tenant, as applicable, in accordance with Section 2.2(a) above, be paid for with rent subsidies, rent assistance, or other housing assistance received by the Tenant.
(ii) In the event the annual report provided by Grantee pursuant to Section 3.2 demonstrates that the funds in the operating reserve for the Units exceed six (6) months' worth of operating expenses or the funds in the replacement reserves for the Units exceed fifty percent (50%) of the replacement value of the improvements on the Property, the County may, in its discretion, direct Grantee to reduce the Rent charged pursuant to Section
Rental Subsidy. The rental subsidy is adjusted using the median of the Real Estate Institute of Australia (REIA) and Australian Valuation Office (AVO) rates from May and November. Adjustments are made 6 monthly, effective 1 January and 1 July.
Rental Subsidy. (i) It is the intent of the County and Grantee that each Very Low- Income Tenant who is MHSA Eligible is only obligated to pay thirty percent (30%) of such Tenant's actual income in Rent. The County and Grantee further intend that the difference between thirty percent (30%) of Tenant's actual income and the Rent charged by Grantee or the Master Tenant, as applicable, in accordance with Section 2.2(a) above, be paid for with rent subsidies, rent assistance, or other housing assistance received by the Tenant.
(ii) In the event the annual report provided by the Grantee pursuant to Section 3.2 demonstrates that the funds in the operating reserve for the Units exceed six (6) months’ worth of operating expenses or the funds in the replacement reserves for the Units exceed fifty percent (50%) of the replacement value of the improvements on the Property, the County may, in its discretion, direct Grantee to reduce the Rent charged pursuant to Section 2.2(a). If requested by the County, such Rent reduction will be memorialized in an amendment to this Agreement that is recorded against title to the Property. The County agrees that if it directs Grantee to reduce the Rent that may be charged to Tenants pursuant to Section 2.2(a), the reduction will be limited to an amount that will permit Grantee to pay for the operating expenses reasonably expected to be incurred in the operation of the Units as rental housing.
Rental Subsidy. If the Project receives or is expected to receive, Federal Section 8 assistance or any other similar rental assistance; should Agency’s Section 8 or other rental assistance eligibility or participation be reduced or terminated, Agency will continue to serve the target population, as described in Exhibit A of this Agreement. If applicable, Agency must continue to apply for Federal Section 8 subsidies or other rental assistance as long as they are available. It is the responsibility of the Agency to notify the City or its designee in a timely manner of any termination or reduction in Section 8 or other rental assistance and whether such termination or reduction results in the Project failing to meet any applicable debt service coverage or expense coverage requirements.
Rental Subsidy. On October 8, 2004, and on the first day of each month thereafter up to and including October 1, 2005, Purchaser shall submit to Seller and Escrow Agent a certification (the "Leasing Certification") in the form attached hereto as Exhibit A which specifies the amount of rental income for the current month (or portion thereof) attributable to the Vacant Space and such backup information as is reasonably required to verify such rental income. In the event such Leasing Certification reflects no rental income attributable to the Vacant Space for the then-current month (or portion thereof), Escrow Agent shall, upon its receipt of such Leasing Certification, release to Purchaser an amount equal to (a) $70,720.08 through December, 2004, and (b) $48,180.08 from and after January 1, 2005 (the "Monthly Escrow Payment") from the Escrowed Funds (prorated for any partial month). In the event that the Leasing Certification reflects rental income attributable to the Vacant Space for the then-current month, Escrow Agent shall, within five (5) days after its receipt of such Leasing Certification, (1) release to Purchaser an amount equal to the Monthly Escrow Payment less the amount of any rental income set forth in such Leasing Certification, and (2) release to Seller an amount equal to the rental income shown on the Leasing Certification. After payment of any amounts due and owing to Purchaser based upon the Leasing Certification received from Purchaser for the month of October, 2005, Escrow Agent shall release the balance of the Escrowed Funds, if any, to Seller. "Rental Income" shall include any base-rent or additional rent payable during the current month by any tenants or occupants of any portion of the Vacant Space, including operating expenses and real estate tax payments.
Rental Subsidy. Landlord covenants and agrees that from and after the Commencement Date, on the express condition that Tenant has commenced paying Rent hereunder and is not in default hereunder, Landlord shall credit against the Rent due hereunder an amount equal to $21,936.10 (the "Subsidy Amount") each month until October 1, 1999 which Subsidy Amount represents the monthly base rent and additional rent payable pursuant to that certain Lease Agreement (the "Existing Lease") by and between Tenant and American National Bank and Trust Company of Chicago, Trust No. 40365. Landlord shall have no obligation to provide the Subsidy Amount if (i) Tenant has not commenced paying Rent hereunder; (ii) Tenant is in default hereunder beyond applicable notice and cure periods; or (iii) Tenant has been delivered a notice of default hereunder but any applicable cure period has not expired; provided, however, that in the event that Landlord does not provide all or some portion of the Subsidy Amount as a result of a default by Tenant for which notice has been provided but the cure period has not lapsed hereunder which is subsequently cured by Tenant in a timely fashion and in accordance with the 13 requirements of the Lease, Landlord shall pay to Tenant promptly after such cure an amount equal to that portion of the subsidy Amount that Landlord failed to provide on account of such default.
Rental Subsidy. If you are renting housing in the Xxxxxxxxx, the KLC will pay up to 40% of your rent, with the subsidy capped at a fortnightly amount of $700. To qualify for this subsidy, you must:
a) prove that the property is your principal place of residence; and
b) provide documentation confirming the rental arrangement. Part-time employees will be entitled to the subsidy on a prorated basis.
Rental Subsidy. To assist you with your move to New York, the Company will provide you with a two-year rental subsidy in the amount of $3,083 per month commencing April 2008 and continuing through March 2010, payable on the first day of each month.
