Examples of AHP Regulation in a sentence
Determination of awards of recaptured, repaid or deobligated funds shall be made consistent with the AHP Regulation and the Bank’s policies and procedures.
The imposition of a restriction or debarment will not eliminate a Member’s or Sponsor’s existing obligations to comply with the AHP Regulation, the Bank’s Policies and Procedures and any commitments made in an AHP Application to the Bank.
Noncompliance is the failure of a Member or Sponsor to comply with the terms of Section 10(j) of the FHLB Act or the AHP Regulation, this Implementation Plan, the Bank’s policies, procedures, guidelines and instructions covering among other things, the use of the Bank’s AHP funds under the AHP (“the Bank’s AHP Policies and Procedures”), the AHP Direct Subsidy Agreement, and any commitments made in an AHP Application to the Bank.
Under the AHP Regulation, the Bank is not required to obtain and review reports from such an agency or otherwise monitor the project’s long-term AHP compliance.
The Bank’s Board of Directors will not delegate to a committee of the Board, Bank officers or other Bank employees its responsibilities as set forth in the AHP Regulation.
All competitive program projects approved for and receiving AHP subsidies must be monitored in accordance with the requirements of Section 1291.7 of the AHP Regulation and the Bank’s policies and procedures for monitoring.Members and project Sponsors must have in place documents in a form satisfactory to the Bank and meeting the requirements of the Regulation, prior to requesting funding from the Bank.
The Bank will set aside a portion of its annual AHP contribution each year to fund one or more homeownership set-aside programs offered by the Bank pursuant to the AHP Regulation.
The programs described above are subject to the AHP Regulation and manuals for such programs, all of which are incorporated into this Plan by reference.
Subject to Section 7, regarding the effect of foreclosure or deed-in lieu of foreclosure, or assignment of the first mortgage on the AHP-Assisted Unit to the Secretary of HUD, this Note and Agreement requires that the AHP-Assisted Unit be owned and occupied during the Retention Period by a low- or moderate-income household, as defined in 12 CFR 1291.1 or other applicable section of the AHP Regulation or the Bank’s AHP Policies and Procedures.
The Sponsor is a sponsor as such term is defined in § 1291.1 of the AHP Regulation, and is in good standing in the State or Commonwealth of its organization.