Examples of Rental Achievement in a sentence
Borrower may not pay the prepayment premium from the funds withdrawn from the Rental Achievement Reserve Fund.
Under the LPA, failure to attain Rental Achievement by December 1, 2008, provides a basis for rescission of the agreement.
In an attempt to establish improper means, Plaintiffs, in their Memorandum in Opposition, attempted to characterize Alliant’s alleged challenge to Water Tower Place’s attainment of Rental Achievement as an improper “misrepresentation of fact.” However, the alleged denial is more properly categorized as a dispute over a contract term.
Significantly, the complaint also avers the Limited Partners never declared any breach of the LPA for the delay in performance or attempted to rescind the contract.2 Further, Plaintiffs stated at the hearing the Limited Partners continued to receive housing tax credits and the General Partner eventually attained Rental Achievement on December 31, 2013.
Section 4.2 of the LPA states the General Partner was to attain Rental Achievement by December 1, 2008.