Rent Restriction Test definition

Rent Restriction Test means the test pursuant to Section 42 of the Code whereby the gross rent charged to tenants of the low-income apartment units in the Apartment Housing cannot exceed 30% of the qualifying income levels of those units under Section 42.

Rent Restriction Test means the test pursuant to Section 42 of the Code whereby the gross rent charged to tenants of the low-income housing units in the Apartment Housing cannot exceed 30% of the qualifying income levels of those units under Section 42. "Revised Projected Georgia Tax Credits" shall have the meaning set forth in Section 7.4(a) hereof.

Rent Restriction Test means the test pursuant to Section 42 of the Code whereby the gross rent charged to tenants of the low-income units in the low-income housing project may not exceed thirty percent (30%) of the qualifying income levels under the elected Minimum Set-Aside Test.

Examples of Rent Restriction Test in a sentence

• Moreover, the General Partner may in its sole discretion at any time advance funds to the Partnership to pay operating expenses and/or debt service of the Partnership in order to facilitate the Partnership's compliance with the Rent Restriction Test.

• Moreover, the General Partners may in their sole discretion at any time advance funds to the Partnership to pay operating expenses and/or debt service of the Partnership in order to facilitate the Partnership's compliance with the Rent Restriction Test.

• Moreover, the General Partners may in their discretion at any time advance funds to the Partnership to pay operating expenses and/or debt service of the Partnership in order to facilitate the Partnership's compliance with the Rent Restriction Test.

• If written confirmation is not received, the hold will automatically be released back to Prime Tenant for a first hold.

• Moreover, the Managing General Partner may in his sole discretion at any time advance funds to the Partnership to pay operating expenses and/or debt service of the Partnership in order to facilitate the Partnership's compliance with the Rent Restriction Test.

• Manager shall operate the Project in accordance with the documents evidencing the Tax Credits and Project Loans (including, without limitation, the Regulatory Agreement), and shall cause the Property to comply at all times with the Minimum Set-Aside Test and the Rent Restriction Test.

• Difference between rents allowed by FmHA and rents allowed under the Rent Restriction Test: N/A 16.

• Here x and y are set to the numerical values you need.The positioning of axodraw objects is specified by giving x and y coordinates, e.g., for the ends of lines.

• Notwithstanding, after expiration of the Operating Deficit guarantee period referenced above, the General Partner may loan funds to the Partnership to pay operating expenses of the Partnership in order to facilitate the Partnership's compliance with the Rent Restriction Test or to cure Operating Deficits.

• Moreover, the Administrative General Partner may in its sole discretion at any time advance funds to the Partnership to pay operating expenses of the Partnership in order to facilitate the Partnership's compliance with the Rent Restriction Test.