Examples of Other Regulatory Agreement in a sentence
Only one Completion Certificate shall be prepared and filed with respect to this requirement and Section 2(i) of the Other Regulatory Agreement.
The Governmental Lender and the Borrower hereby recognize and agree that the representations and covenants set forth herein and in the Other Regulatory Agreement may be relied upon by all persons interested in the legality and validity of the Funding Loan Notes, in the exemption from State personal income taxation of interest on the Funding Loan Notes and in the Tax-Exempt status of the interest on the Tax-Exempt Notes.
The Issuer and the Bondowner Representative shall have the right to enforce the obligations of the Borrower under this Regulatory Agreement and under the Other Regulatory Agreement within shorter periods of time than are otherwise provided herein if necessary to insure compliance with the Act or the Code.
The Issuer and the Borrower hereby recognize and agree that the representations and covenants set forth herein and in the Other Regulatory Agreement may be relied upon by all persons, including but not limited to the Administrator and the Bondowner Representative, interested in the legality and validity of the Bonds, in the exemption from California personal income taxation of interest on the Bonds and in the Tax-Exempt status of the interest on the Bonds.
The Governmental Lender and the Bank shall have the right to enforce the obligations of the Borrower under this Regulatory Agreement and under the Other Regulatory Agreement within shorter periods of time than are otherwise provided herein if necessary in the opinion of Tax Counsel to insure compliance with the Act or the Code.
In consideration of the issuance of the Funding Loan Notes by the Governmental Lender, the Borrower has entered into this Regulatory Agreement and the Other Regulatory Agreement, and has agreed to restrict the uses to which the Project and the Other Project can be put on the terms and conditions set forth herein and in the Other Regulatory Agreement.
In consideration of the issuance of the Bonds by the Issuer, the Borrower has entered into this Regulatory Agreement and the Other Regulatory Agreement and has agreed to restrict the uses to which this Project and the Other Project can be put on the terms and conditions set forth herein and therein.
In addition to the foregoing, the Borrower shall pay to the Governmental Lender promptly following receipt of an invoice that reasonably identifies the relevant expenses and the amounts thereof, any out of pocket expenses incurred by the Governmental Lender in connection with the Funding Loan Notes, the Funding Loan Agreement, this Regulatory Agreement, the Other Regulatory Agreement or the Borrower Loan Agreement, including but not limited to any costs related to the FOCUS Program.
During the preceding twelve-months (i) the Project was continually in compliance with the Regulatory Agreement, (ii) % of the units in the Project were occupied by Low Income Tenants (minimum of 40%), (iii) the Other Project was continually in compliance with the Other Regulatory Agreement, and (iv) by Low Income Tenants (minimum of 40%).
They state, “The main bank not only provides loans, it holds equity, and, in the eyes of the capital market participants and regulators, is expected to monitor the firm and intervene when things go wrong.