Transfer of the Home Sample Clauses

Transfer of the Home. 10.1 Homeowner and JTCHA agree that the provisions of this Article are intended to preserve the affordability of the Home for persons of low income working in Teton County and expand access to homeownership opportunities for such households. 10.2 Homeowner may transfer the Home only to JTCHA or an [insert category of home] “Qualified Household” as defined in the Guidelines, and which household further meets the “General Eligibility Criteria for Purchase” as outlined in the Guidelines. Such criteria include, without limitation, a restriction on the use of a Home, employment eligibility, income eligibility, and a household asset limitation. 10.3 In the event of a divorce or the death of the Homeowner, JTCHA may consent to the transfer of the Home to an ex-spouse, or an heir or devisee of such deceased Homeowner, which ex-spouse, heir or devisee may not otherwise qualify as a Qualified Household. 10.4 In the event that Homeowner desires to sell the Home, Homeowner shall give written notice to JTCHA of such desire (the “Notice to Sell”). 10.5 Upon JTCHA’s receipt of the Notice to Sell, JTCHA shall determine the “Maximum Resale Price,” in accordance with and as defined in the Guidelines. Upon JTCHA’s determination of the Maximum Resale Price, the sale of the Home shall be facilitated by JTCHA and shall be completed in accordance with the procedure set forth in the Guidelines, which procedure may include, without limitation: a fee (not to exceed 2% of the Maximum Resale Price, as defined herein) paid to JTCHA for such facilitation; requirements regarding the listing of the Home with JTCHA and/or a licensed real estate agent, as JTCHA may direct; standard terms for the sales contract; and a selection procedure for the purchaser (which selection procedure may include a lottery). 10.6 Notwithstanding the foregoing, upon receipt of the Notice to Sell, JTCHA may purchase the Home. So long as the Homeowner is not otherwise in default as defined herein, the purchase price in such case shall be the Maximum Resale Price. If the Homeowner is in default, other provisions of this Lease may apply in determining a reduced purchase price. 10.7 To further the goal of providing affordable housing, a Home may not be sold for a purchase price in excess of the “Maximum Resale Price”. The Maximum Resale Price is the original purchase price plus an increase in price of 2.5% per year compounded annually, plus the depreciated cost of pre- approved or government-required capital improve...
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Transfer of the Home. 10.1 INTENT OF THIS ARTICLE IS TO PRESERVE AFFORDABILITY: Homeowner and ACLT agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for lower income households and expand access to homeownership opportunities for such households. Homeowner acknowledges and agrees that the Home and/or Homeowner’s rights under this Lease may not be sold, assigned or otherwise transferred at a price higher than the Purchase Option Price. 10.2 HOMEOWNER MAY TRANSFER HOME ONLY TO ACLT OR QUALIFIED PERSONS: Homeowner may assign, sell, transfer or otherwise dispose of the Home (any, a “transfer”) only to ACLT (or ACLT’s assignee) or to an Income-Qualified Person as defined below or otherwise only as explicitly permitted by the provisions of this Article 10. In addition, transfer to Income-Qualified Persons shall be further limited by the restrictions set forth in the attached Exhibit F. All such transfers are to be completed only in strict compliance with this Article 10 and subject to the price limitations set forth herein. Any purported transfer that does not follow the procedures set forth below, except in the case of a transfer to a Permitted Mortgagee in lieu of foreclosure, shall be null and void.
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Transfer of the Home. 10.1 Intent of this article is to preserve affordability: Homeowner and CLT agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for lower income households and expand access to homeownership opportunities for such households. 10.2 Homeowner may transfer Home only to CLT or income-qualified persons: Homeowner may transfer the Home only to the CLT or an Income-Qualified Person as defined below or otherwise only as explicitly permitted by the provisions of this Article 10. All such transfers are to be completed only in strict compliance with this Article 10. Any purported transfer that does not follow the procedures set forth below, except in the case of a transfer to a Permitted Mortgagee in lieu of foreclosure, shall be null and void.
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Transfer of the Home. 10.1 INTENT OF THIS ARTICLE IS TO PRESERVE AFFORDABILITY: Homeowner and HCHT agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for low-income or moderate-income households and expand access to homeownership opportunities for such households.
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Transfer of the Home. 10.1 INTENT OF THIS ARTICLE IS TO PRESERVE AFFORDABILITY: Homeowner purchased the Home at a below market price and the Homeowner and OPAL agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for lower income households and expand access to homeownership opportunities for such households. 10.2 HOMEOWNER MAY TRANSFER HOME ONLY TO OPAL OR INCOME-QUALIFIED PERSONS: Homeowner may transfer the Home only to OPAL or an Income-Qualified Person as defined below or otherwise only as explicitly permitted by the provisions of this Article 10. All such transfers are to be completed only in strict compliance with this Article 10. Any purported transfer that does not follow the procedures set forth below, except in the case of a transfer to a Permitted Mortgagee in lieu of foreclosure, shall be null and void.
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Transfer of the Home. 10.1 INTENT OF THIS ARTICLE IS TO PRESERVE AFFORDABILITY. Homeowner and TapRoot CLT agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for persons and families of low income and expand access to homeownership opportunities for such households. 10.2 HOMEOWNER MAY TRANSFER HOME ONLY TO TapRoot CLT OR PRE-APPROVED QUALIFIED PERSONS. Homeowner may transfer the Home only to TapRoot CLT or a Pre-
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Transfer of the Home. 10.1 INTENT OF THIS ARTICLE IS TO PRESERVE AFFORDABILITY: Homeowner and DSCLT agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for lower income households and expand access to homeownership opportunities for such households. 10.2 HOMEOWNER MAY TRANSFER HOME ONLY TO DSCLT OR QUALIFIED PERSONS: Homeowner may transfer the Home only to the DSCLT or an Income-Qualified Person as defined below or otherwise only as explicitly permitted by the provisions of this Article 10. All such transfers are to be completed only in strict compliance with this Article 10. Any purported transfer that does not follow the procedures set forth below, except in the case of a transfer to a Permitted Mortgagee in lieu of foreclosure, shall be null and void.
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Transfer of the Home. 10.1 INTENT OF THIS ARTICLE IS TO PRESERVE AFFORDABILITY: Homeowner and CLT agree that the provisions of this Article 10 are intended to preserve the affordability of the Home for lower income households and expand access to homeownership opportunities for such households. 10.2 HOMEOWNER MAY TRANSFER HOME ONLY TO CLT OR QUALIFIED PERSONS: Homeowner may transfer the Home only to the CLT or an Income-Qualified Person as defined below or otherwise only as explicitly permitted by the provisions of this Article 10. All such transfers are to be completed only in strict compliance with this Article 10. Any purported transfer that does not follow the procedures set forth below, except in the case of a transfer to a Permitted Mortgagee in lieu of foreclosure, shall be null and void. “Income-Qualified Person” shall mean a person or group of persons whose household income is between fifty and eighty percent (50-80%) of the median household income for the applicable Standard Metropolitan Statistical Area or County as calculated and adjusted for household size from time to time by the U.S. Department of Housing and Urban Development (HUD) or any successor.
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Related to Transfer of the Home

  • Transfer of the Shares Prior to the termination of this ---------------------- Agreement, except as otherwise provided herein, the Shareholder shall not: (i) transfer (which term shall include, without limitation, for the purposes of this Agreement, any sale, gift, pledge or other disposition), or consent to any transfer of, any or all of the Shares; (ii) enter into any contract, option or other agreement or understanding with respect to any transfer of any or all of the Shares or any interest therein; (iii) grant any proxy, power-of-attorney or other authorization or consent in or with respect to the Shares; (iv) deposit the Shares into a voting trust or enter into a voting agreement or arrangement with respect to the Shares, or (v) take any other action that would in any way restrict, limit or interfere with the performance of such Shareholder's obligations hereunder or the transactions contemplated hereby.

  • Transfer of the Property Any sale, lease, conveyance, assignment, pledge, encumbrance, or transfer of all or any part of the Property or any interest therein, voluntarily or involuntarily, whether by operation of law or otherwise, except: (i) sales or transfers of items of the Accessories which have become obsolete or worn beyond practical use and which have been replaced by adequate substitutes, owned by Mortgagor, having a value equal to or greater than the replaced items when new; and (ii) the grant, in the ordinary course of business, of a leasehold interest in a part of the Improvements to a tenant for occupancy, not containing a right or option to purchase and not in contravention of any provision of this Mortgage or of any other Loan Document. Mortgagee may, in its sole discretion, waive a default under this paragraph, but it shall have no obligation to do so, and any waiver may be conditioned upon such one or more of the following (if any) which Mortgagee may require: the grantee’s integrity, reputation, character, creditworthiness and management ability being satisfactory to Mortgagee in its sole judgment and grantee executing, prior to such sale or transfer, a written assumption agreement containing such terms as Mortgagee may require, a principal paydown on the Note, an increase in the rate of interest payable under the Note, a transfer fee, a modification of the term of the Note, and any other modification of the Loan Documents which Mortgagee may require. NOTICE - THE DEBT SECURED HEREBY IS SUBJECT TO CALL IN FULL IN THE EVENT OF SALE OR CONVEYANCE OF THE PROPERTY CONVEYED.

  • Transfer of the Warrant Shares issued upon the exercise of this Warrant shall be restricted in the same manner and to the same extent as the Warrant, and the certificates representing such Warrant Shares shall bear substantially the following legend, until such Warrant Shares have been registered under the Act or may be removed as otherwise permitted under the Act: "THE SHARES OF COMMON STOCK REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAW AND MAY NOT BE TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT UNDER THE ACT OR SUCH APPLICABLE STATE SECURITIES LAWS SHALL HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR (ii) IN THE OPINION OF COUNSEL SATISFACTORY TO THE COMPANY, REGISTRATION UNDER THE ACT OR SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER."

  • Transfer of the Mortgage Loans Possession of Mortgage Files. The Seller does hereby sell, transfer, assign, set over and convey to the Purchaser, without recourse, but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans. The contents of each Mortgage File related to a Mortgage Loan not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser and promptly transferred to the Trustee. Upon the sale of the Mortgage Loans, the ownership of each related Mortgage Note, the related Mortgage and the other contents of the related Mortgage File shall be vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered promptly to the Purchaser or as otherwise directed by the Purchaser.

  • Transfer of Business Where a transfer of business occurs, an Employee who worked with the old employer and who continues in the service of the new employer will be entitled to count her/his service with the old employer as service with the new employer for the purposes of this clause.

  • Transfer of Interest The Interest is personal property and may be transferred or assigned, in whole or in part, as permitted by the Equityholders Agreement, in the sole discretion of the Member. Notwithstanding anything to the contrary set forth herein, no Interest in the Company may be issued, transferred or pledged in any manner whatsoever except in compliance with all applicable Gaming Licenses and Gaming Laws, except as contemplated by Section 9.2.

  • Transfer of Note Each provision of this Note shall be and remain in full force and effect notwithstanding any negotiation or transfer hereof and any interest herein to any other Holder or participant.

  • Transfer of Funds From such funds as may be available for the purpose in the relevant Fund Custody Account, and upon receipt of Proper Instructions specifying that the funds are required to redeem Shares of the Fund, the Custodian shall wire each amount specified in such Proper Instructions to or through such bank or broker-dealer as the Trust may designate.

  • Transfer of Technology 1. The Parties agree to exchange views and information on their law and international practices on the protection and enforcement of intellectual property rights, affecting transfer of technology. This shall, in particular, include exchanges on measures to facilitate information flows, business partnerships, and voluntary licensing and subcontracting agreements. Particular attention shall be paid to the conditions necessary to create an adequate enabling environment for technology transfer in the host countries, including issues such as the domestic legal framework and the development of human capital. 2. When measures are taken with regard to technology transfer, the legitimate interests of the intellectual property right holders shall be protected.

  • Company’s Refusal to Register Transfer of the Securities The Company shall refuse to register any transfer of the Securities, if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements of the Securities Act.

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