Examples of Permitted Rent in a sentence
Following occupancy of the building, the Owner must provide the City with a statutory declaration in the form attached hereto as Schedule A-1 on the first business day of January each year, that declares that the Permitted Rent of the Affordable Rental Units and the Income Thresholds of the Income Tested Tenants who hold Tenancy Agreements for the Affordable Rental Units all meet the requirements found within this Housing Agreement.
The Owner agrees that, in addition to any other remedies available to the City under this Agreement or at law or in equity, if a Dwelling Unit is used or occupied in breach of this Agreement, if an Dwelling Unit is rented at a rate in excess of the Permitted Rent or the Owner imposes in respect of any tenancy of a Dwelling Unit any fee or charge of whatsoever nature other than Permitted Tenant Charges, the Owner will pay the Excess Charges to the City.
The Owner agrees covenants and agrees that Tenants of the Affordable Rental Units must not be charged rent in excess of the Permitted Rent, excluding Permitted Tenant Charges.