City Regulatory Agreement definition

City Regulatory Agreement means the Amended and Restated Regulatory Agreement and Declaration of Restrictive Covenants, Conditions and Restrictions Restricting Use of Property for Affordable Housing entered into by the Borrower in connection with the City Loan.

City Regulatory Agreement means the regulatory agreement anddeclaration of restrictive covenants, to be executed by the Developer and the City and recorded against the Property at the Closing, substantially in the form attached hereto as Exhibit J.

City Regulatory Agreement means [the restrictions from the Ground Lease?]

Examples of City Regulatory Agreement in a sentence

• In the event that any monetary provisions of the City Loan Agreement, City Regulatory Agreement, City Deed of Trust, and/or City Note conflict, the terms of the City Note and City Deed of Trust shall control.

• In the event that any monetary provisions of the City Note or City Deed of Trust conflict, or in the event that any non-monetary provisions of the City Loan Agreement, City Regulatory Agreement, City Deed of Trust, and/or City Note conflict, the strictest provision shall control.

• Each Junior Lienholder agrees that, without the Bank’s prior written consent, it will not accelerate the Junior Obligations, commence foreclosure proceedings with respect to the Property, collect rents, appoint (or seek the appointment of) a receiver or institute any other collection or payment enforcement action, provided that nothing herein shall limit the City’s right to seek specific performance of the City Regulatory Agreement (as defined in Exhibit B).

• The City Regulatory Agreement is attached as Exhibit K, which is hereby incorporated into this City Loan Agreement by this reference.

• If, as a result of a periodic review, the City determines, in its reasonable judgment, that the Development is not being operated and managed in accordance with any of the material requirements and standards of this Agreement and the City Regulatory Agreement, the City shall deliver notice to Developer of its intention to cause replacement of the Management Agent, including the reasons therefor.

More Definitions of City Regulatory Agreement

City Regulatory Agreement means the Amended and Restated 55-Year Affordability Restrictions, dated as of , 2010, between Borrower and the City in connection with the City Loan.

City Regulatory Agreement means an affordable housing regulatory agreement, substantially in the form attached hereto and incorporated herein as Attachment No. 7. The City Regulatory Agreement shall specify the precise number of Affordable Units to be developed, and shall include a unit matrix reflecting the number of bedrooms and bathrooms in each Affordable Unit and the income restrictions application to each Affordable Unit. The Parties acknowledge that in the event the unit matrix changes prior to the Funding Closing Date, the Parties will execute and record an amendment to or an amended and restated version of, the City Regulatory Agreement, to reflect the number of Affordable Units entitled for the Project and as set forth in the City-approved Project Budget.

City Regulatory Agreement means the Amended and Restated Regulatory Agreement and Declaration of Restrictive Covenants dated as of May , 2019 between the City and the Borrower.

City Regulatory Agreement means the Agreement Containing Covenants between City and Borrower made as of the date hereof and recorded against the Project.

City Regulatory Agreement means the regulatory agreement by and between Lessor and Lessee, of even date herewith, setting forth the requirement to provide occupancy and certain services to a specified number of low and very low income households at affordable charges at the Project.

City Regulatory Agreement means the affordable housing regulatory agreement entered into in connection with the City Loan substantially in the form attached to this Agreement as Attachment P, subject to such changes as the Construction Lender and the Investor Limited Partner may request that are reasonably approved by the City.

City Regulatory Agreement has the meaning set forth in Paragraph K of the Recitals.