Qualifying Tenants definition

Qualifying Tenants means those persons and families who are determined from time to time by the Developer to have combined adjusted income that does not exceed 50% of the Median Income.

Qualifying Tenants means individuals or families whose income is less than or equal to 60% of the area median gross income (including adjustments for family size), as determined in accordance with applicable law.

Qualifying Tenants means individuals or families whose income is less than or equal to 60% of the area median gross income (including adjustments for family size), as determined in accordance with applicable law. 9 Summit Xxxxx Shopping Simultaneously with the closing of the subject Mortgage Rep. No. on Exhibit B Mortgage Loan and Loan Number as Identified on Exhibit A Description of Exception Center (Loan No. 4) Loan, Mountain Vista Real Estate Opportunity Fund I, LLC, an affiliate of DDR Corp., provided a $9,000,000 mezzanine loan secured by the equity interests in the related Mortgagor. Such mezzanine loan is subject to an intercreditor agreement.

Examples of Qualifying Tenants in a sentence

• In renting the residential units in the Project, the Developer has not given preference to any particular group or class of persons (except for persons who qualify as Qualifying Tenants); and none of the units listed in (D) above have been rented for occupancy entirely by students, no one of which is entitled to file a joint return for federal income tax purposes.

• For purposes of this definition, the occupants of a residential unit shall not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 151(c)(4) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code.

• The Developer certifies that as of the date hereof at least of the residential dwelling units in the Project are occupied or held open for occupancy by Qualifying Tenants, as defined and provided in the Declaration.

• In renting the residential units in the Project, the Owner has not given preference to any particular group or class of persons (except for persons who qualify as Qualifying Tenants); and none of the units listed in (D) above have been rented for occupancy entirely by students, no one of which is entitled to file a joint return for federal income tax purposes.

• The Developer shall permit any duly authorized representative of the Authority to inspect the books and records of the Developer pertaining to the income of Qualifying Tenants residing in the Project.

• Rental of the Project shall be in accordance with the following:(a) All of the Affordable Units shall be occupied by Qualifying Tenants and shall bear rents not greater than 30% of the adjusted income of a family whose gross income equals 50% of the Median Family Income adjusted by Section 3(C)(d) charges paid by the Qualifying Tenant.(b) The initial rent schedule for the Affordable Units is attached hereto as Exhibit B.

• For purposes of this definition, the occupants of a residential unit will not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 151(c)(4) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code.

• IHCDA and Qualifying Tenant(s) (or either or all of them) are entitled, for any breach of this Agreement, to enforce specific performance by Owner of its obligations under this Agreement in a state court of competent jurisdiction, in addition to all other remedies provided by law or in equity.

• Checks must be made payable to Arizona School for the Arts and mailed to: Accounts Receivable, 1410 North Third Street, Phoenix, AZ 85004.

• The Owner certifies that as of the date hereof at least of the residential dwelling units in the Project are occupied or held open for occupancy by Qualifying Tenants, as defined and provided in the Declaration.

More Definitions of Qualifying Tenants

Qualifying Tenants means those persons and families who are determined from time to time by the Developer to have combined adjusted income that does not exceed 60% of the median income for the standard metropolitan statistical area which includes West St. Xxxx, Minnesota, as that figure is determined and announced from time to time by HUD, as adjusted for family size (the “Median Income”) for the applicable calendar year. For purposes of this definition, the occupants of a residential unit will not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 152(f)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code. The determination of whether an individual or family is of low or moderate income will be made at the time the tenancy commences and on an ongoing basis thereafter, determined at least annually. If during their tenancy a Qualifying Tenant’s income exceeds 140% of the maximum income qualifying as low or moderate income for a family of its size, the next available residential unit (determined in accordance with the Code and applicable regulations) (the “Next Available Unit Rule”) must be leased to a Qualifying Tenant or held vacant and available for occupancy by a Qualifying Tenant. If the Next Available Unit Rule is violated, the residential unit will not continue to be treated as a Qualifying Unit.

Qualifying Tenants means, collectively as applicable, 50% Qualifying Tenants, 60% Qualifying Tenants, and 80% Qualifying Tenants; for purposes of this definition, the occupants of a residential unit will not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 152(f)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code. The determination of whether an individual or family is of low or moderate income will be made at the time the tenancy commences and on an ongoing basis thereafter, determined at least annually. If during their tenancy a Qualifying Tenant’s income exceeds 140% of the maximum income qualifying as low or moderate income for a family of its size, the next available unit (determined in accordance with the Code and applicable regulations) (the “Next Available Unit Rule”) must be leased to a Qualifying Tenant or held vacant and available for occupancy by a Qualifying Tenant qualifying as to the applicable income level. If the Next Available Unit Rule is violated, the affected unit will not continue to be treated as occupied by a Qualifying Tenant.

Qualifying Tenants means, collectively as applicable, 30% Qualifying Tenants and 50% Qualifying Tenants; for purposes of this definition, the occupants of a residential unit will not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 152(f)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code. The determination of whether an individual or family is of low or moderate income will be made at the time the tenancy commences and, with respect to each 30% Qualifying Tenant and each 50% Qualifying Tenant, on an ongoing basis thereafter, determined at least annually. If during their tenancy a 30% Qualifying Tenant’s or a 50% Qualifying Tenant’s income exceeds 140% of the maximum income qualifying as low or moderate income for a family of its size, the next available residential unit (determined in accordance with the Code and applicable regulations) (the “Next Available Unit Rule”) must be leased to a Qualifying Tenant or held vacant and available for occupancy by a Qualifying Tenant qualifying as to the applicable income level. If the Next Available Unit Rule is violated, the affected unit will not continue to be treated as occupied by a Qualifying Tenant.

Qualifying Tenants means, collectively as applicable, 50% Qualifying Tenants, 60% Qualifying Tenants, 80% Qualifying Tenants and 110% Qualifying Tenants; for purposes of this definition, the occupants of a residential unit will not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 152(f)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code. The determination of whether an individual or family is of low or moderate income will be made at the time the tenancy commences and, with respect to each 50% Qualifying Tenant and each 60% Qualifying Tenant, on an ongoing basis thereafter, determined at least annually. If during their tenancy a 50% Qualifying Tenant’s or a 60% Qualifying Tenant’s income exceeds 140% of the maximum income

Qualifying Tenants means those persons and families who are determined from time to time by the Affordable Developer to have combined adjusted income that does not exceed 60% of the median income for the standard metropolitan statistical area which includes Oakdale, Minnesota, as that figure is determined and announced from time to time by HUD, as adjusted for family size (the “Median Income”) for the applicable calendar year. For purposes of this definition, the occupants of an Affordable Unit will not be deemed to be Qualifying Tenants if all the occupants of such residential unit at any time are “students,” as defined in Section 152(f)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), not entitled to an exemption under the Code. The determination of whether an individual or family is of low or moderate income will be made at the time the tenancy commences and on an ongoing basis thereafter, determined at least annually. If during their tenancy a Qualifying Tenant’s income exceeds 140% of the Median Income for a family of its size, the next available residential unit (determined in accordance with the Code and applicable regulations) (the “Next Available Unit Rule”) must be leased to a Qualifying Tenant or held vacant and available for