HUD Regulatory Agreement definition

HUD Regulatory Agreement means the Regulatory Agreement between Borrower and HUD with respect to the Project, as the same may be supplemented, amended or modified from time to time.

HUD Regulatory Agreement means the Regulatory Agreement for Multifamily Projects between the Owner and HUD with respect to the Project, as the same may be supplemented, amended or modified from time to time.

HUD Regulatory Agreement means the Regulatory Agreement for Multifamily Projects between the Borrower and HUD, as amended or supplemented from time to time.

Examples of HUD Regulatory Agreement in a sentence

• All borrowers must execute a HUD Regulatory Agreement governing the operation of the project.

• The organizational documents must provide that the Borrower be in existence at least as long as the term of the insured loan, and must include certain provisions required by HUD, including without limitation provisions that indicate that the HUD Regulatory Agreement takes precedence in the event of any conflict with the organizational documents; that the Borrower is authorized to enter into the transaction; and that the Borrower is a single-purpose, single-asset entity.

• The following provisions are included, which provisions may automatically terminate when the loan no longer is insured or held by HUD: If any of the provisions of the organizational documents conflict with the terms of the HUD-insured Note, mortgage, deed of trust, security deed, security agreement, or HUD Regulatory Agreement ("HUD Loan Documents"), the provisions of the HUD Loan Documents shall control.

• Owners of profit motivated and limited distribution properties shall not, without the prior written consent of HUD, assign, transfer, dispose of, or encumber any personal property of the project, including rents, or pay out any funds except from surplus cash, except for reasonable operating expenses and necessary repairs (Source - HUD Regulatory Agreement.

• Notwithstanding any provision in this Loan Agreement to the contrary, no obligations of the Borrower hereunder shall be payable except from (A) Surplus Cash (as defined in the HUD Regulatory Agreement) or (B) Non-Project Sources (meaning funds that are not derived from revenues of the Project (as defined in the FHA Mortgage), any proceeds of the FHA Note, any reserve or deposit made with the FHA Lender or any other party as required by HUD in connection with the FHA Loan Documents).

More Definitions of HUD Regulatory Agreement

HUD Regulatory Agreement means the U.S. Department of Housing and Urban Development Regulatory Agreement for Multifamily Housing Projects between the Borrower and HUD with respect to the Development, as the same may be supplemented, amended or modified from time to time.

HUD Regulatory Agreement means, individually, the U.S. Department of Housing and Urban Development Regulatory Agreement for Multifamily Housing Projects between a Borrower and HUD with respect to the respective Development, as the same may be supplemented, amended or modified from time to time. “HUD Regulatory Agreements” means, collectively, all of such HUD Regulatory Agreements.

HUD Regulatory Agreement means the Regulatory Agreement dated as of 1, 2014 between the Borrower and HUD, related to the FHA Insured Mortgage Loan.

HUD Regulatory Agreement means the Regulatory Agreement for Multifamily Projects dated as of March 1, 2017 between the Borrower and HUD, related to the FHA Insured Mortgage Loan.

HUD Regulatory Agreement means that certain Regulatory Agreement entered into by the Tenant and HUD and dated as of substantially even date herewith.

HUD Regulatory Agreement means that certain Regulatory Agreement, dated, 2013, between the Declarant and HUD with respect to the Property, as the same may be supplemented, amended or modified from time to time.

HUD Regulatory Agreement means the Regulatory Agreement for Multifamily Projects, dated the date of the FHA Note, between the Borrower and HUD, related to the FHA Insured Mortgage Loan.