Written Consent of City Required Before Transfer Sample Clauses

Written Consent of City Required Before Transfer. An Affordable Unit, and any interest therein, shall not be Transferred except with the express written consent of the City, which consent shall be given only if the Transfer is consistent with the City's goal of creating, preserving, maintaining and protecting housing in San Xxxx for Eligible Persons and Families and shall be in accordance with the provisions of Section 4 of this Restriction. This provision shall not prohibit the encumbering of title for the sole purpose of securing financing; however, in the event of foreclosure or transfer by deed in lieu of foreclosure the provisions of Section 11 of this Restriction shall apply with regard to proceeds and this Restriction shall continue to apply to the Affordable Unit subject to foreclosure in accordance with Section 17, except as otherwise required by Xxxxxx Mae or other similar mortgage insurer or secondary purchaser.
Sample 1
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Written Consent of City Required Before Transfer. An Assisted Unit, and any interest therein, shall not be Transferred except with the express written consent of the City, which consent shall be given only if the Transfer is consistent with the City's goal of creating, preserving, maintaining and protecting housing in San Xxxx for Eligible Persons and Families and shall be in accordance with the provisions of paragraph 4 of this Restriction. This provision shall not prohibit the encumbering of title for the sole purpose of securing financing; however, in the event of foreclosure or transfer by deed in lieu of foreclosure the provisions of paragraph 10 of this Restriction shall apply with regard to proceeds and this Restriction shall continue to apply to the Property subject to foreclosure in accordance with paragraph 16, except as otherwise required by any subordination agreement executed by the City. Unless City receives a written request from Owner to transfer the Assisted Unit and the City gives its approval, then the Owner shall be subject to a recapture of any City investment (Equity Share/Additional Charge).
Sample 1

Related to Written Consent of City Required Before Transfer

  • Written Consent Any action required or permitted to be taken by a vote of Partners at a meeting may be taken without a meeting if a Majority in Interest of the Partners consent thereto in writing.

  • ACTIONS BY WRITTEN CONSENT Any action required or permitted to be taken at any meeting of the Members may be taken without a meeting, without prior notice, and without a vote, if a consent in writing, setting forth the action so taken, is signed by Members having at least the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all Members were present and voting. A facsimile or similar electronic reproduction of a writing signed by a Member will be regarded as signed by the Member.

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