Principal Occupant definition

Principal Occupant means the person named as such in the Schedule and who has signed this Agreement for himself or herself and on behalf of all Permitted Occupants.

Principal Occupant means the occupant(s) of an apartment style accommodation whose name(s) appear on the Principal Occupancy Agreement and who are responsible for ensuring that occupancy fees are paid. Each principal occupant must live in the accommodation for at least one term of the occupancy agreement

Principal Occupant means the person named as such in the Schedule and who has signed this Agreement for himself or herself and on behalf of all Permitted Occupants. “Relocation Costs” means the reasonable costs of relocating the Dwelling in accordance with a direction of the Owner under clause 7.1 hereof but, for the avoidance of doubt, must not include any allowance for loss of amenity.

Examples of Principal Occupant in a sentence

• The Principal Occupant may also be required to obtain and pay for a structural pest control report and to pay for any necessary corrective repairs.

• The resources for these efforts will be drawn both from its global and regional exclusion and from country-specific allocations in keeping with country priorities.

• The Principal Occupant shall then have the option, exercisable prior to the close of escrow, of either repairing the identified damage or having the cost to repair the damage deducted from the proceeds of the sale and held in escrow to be used to pay for the repairs.

• The Principal Occupant may also have an appraisal made by an appraiser, of his or her choice and subject to approval of the Administering Agency, to establish the market value.

• No improvements shall be deemed substantial unless the aggregate, actual, initial costs of the improvements to the Principal Occupant exceed one percent of the purchase price paid by the Principal Occupant for the premises except as provided below; The Principal Occupant’s portion of the cost of improvements to the common areas of a condominium made by a mandatory assessment by the homeowners association shall be considered the same as an improvement made directly by the Principal Occupant.

• If the units to be converted are occupied and rented by Moderate or Lower Income Households at the time of conversion, the occupying tenants must be given the first right of refusal to purchase the units if they meet the eligibility requirements under these Guidelines and can obtain necessary financing within 60 days of being notified of the sale by the Principal Occupant.

• This marketing effort may be provided by the Principal Occupant, by a real estate brokerage or other representative selected by the Principal Occupant, or by the Administering Agency or its designee for the County’s Affordable Housing Program.

• For units marketed by the Administering Agency, an additional fee shall be charged to the Principal Occupant.

• In every case, this marketing program shall be fully specified and documented by the Principal Occupant, and approved by the Administering Agency prior to the acceptance of a Notice of Intent to Sell for the unit.

• FEESUpon the resale or refinance of an affordable unit, the Principal Occupant shall be charged a fee by the administrative agency for the preparation of new Declarations of Restrictions and Requests for Notice of Default as may be required, and for the monitoring and processing of the transactions.

More Definitions of Principal Occupant

Principal Occupant means the occupant(s) of an apartment style accommodation whose name(s) appear on the Principal Occupancy Agreement and who are responsible for ensuring that occupancy fees are paid and that the correct number of people will occupy the accommodation. Each principal occupant must live in the accommodation for at least one of the Fall or Winter terms of the occupancy agreement