Rental Phase definition

Rental Phase. A Phase consisting of rental housing. The current and anticipated Rental Phases are further described and defined in Section 2.1.
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Rental Phase means the period commencing on the Acquisition Date and ending at the end of the Lease Term, as defined in Section 2.1 of the Lease, during which Base Rental payments under the Lease shall be made by the District in consideration of the use and occupancy of the Leased Premises.
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Rental Phase means a Phase consisting of rental housing.
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Examples of Rental Phase in a sentence

  • A copy of the Management Agreement shall be submitted to the City for its approval prior to the Closing of Rental Phase 1.

  • The Developer will form a single-purpose North Carolina limited partnership or limited liability company to own each Rental Phase (each, an “Owner Partnership”).

  • The plans for Rental Phase 1 are those that have been submitted to and approved by NCHFA and plans for later phases shall generally be guided by the Revitalization Plan and approved by NCHFA.

  • Beginning with the first year after achievement of stabilization (which will be defined more particularly in the Rental Phase I Owner Partnership’s limited partnership agreement to reflect approximately 3 months of breakeven operations at a specified debt service coverage ratio), payments in the amount of 60% of Net Cash Flow shall be made to the City in repayment of the Cash Flow Loan.

  • The present understandings between the City and the Developer with respect to such relationships as they relate to the Rental Phases, as will be memorialized and further detailed in separate agreements at the Closings of each Rental Phase, are summarized in the following provisions of this Article 7.

  • The City and the Developer anticipate that Closing with respect to Rental Phase 2 will occur not later than the second quarter of the calendar year following the year in which NCHFA awards low-income housing tax credits for Rental Phase 2.

  • The City and the Developer anticipate that Closing of Rental Phase 1 will occur not later than the third quarter of calendar year 2012.

  • The City shall be responsible for the design, engineering and construction of all new public improvements required to serve the Rental Phase 1 development to include: water and sewer lines, gas and electric utilities, streets, street lighting, sidewalks, curbs, street trees and other elements within the public right of way, all as more particularly described in the design documents and bid packages relating to the CDBG Agreement (the “Public Improvements”).

  • At such time as NCHFA awards tax credits for an Approved Phase the City will provide predevelopment financing for such Approved Phase on substantially the same terms as reflected in the Rental Phase I Predevelopment Loan Agreement.

  • The Developer anticipates applying to NCHFA for an allocation of low-income housing tax credits for Rental Phase 2 no later than June 30, 2014.

Related to Rental Phase

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • Lease Commencement Date means the Closing Date. The “Lease Expiration Date” shall mean the later of (i) the date of the final payment in full of the French Advances and (ii) the Vehicle Lease Expiration Date for the last Lease Vehicle leased by the Lessee hereunder. The “Term” of this Agreement shall mean the period commencing on the Lease Commencement Date and ending on the Lease Expiration Date.

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • School premises means either of the following:

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • industrial premises means any place or premises (not being a private dwelling house), including the precincts thereof, in which or in any part of which any industry, trade, business, occupation or manufacturing is being ordinarily carried on with or without the aid of power and includes a godown attached thereto;

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Commencement Date means the date of this Agreement;

  • Area A means the area marked “Area A” outlined in red on the Plan (excluding that part shaded grey on the Plan);

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Base Term Commencing (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 15, 2016 (“Expiration Date”).”

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Unstable area means a location that is susceptible to natural or human-induced events or forces capable of impairing the integrity of some or all of the landfill structural components responsible for preventing releases from a landfill. Unstable areas can include poor foundation conditions, areas susceptible to mass movements, and Karst terranes.

  • Banking Premises means the interior of that portion of any building occupied by a banking institution or similar safe depository.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;