Resale Restriction Agreement definition

Resale Restriction Agreement means an agreement, covenant, deed of trust, or other document, approved as to form by the city council, which is executed by the property owner and recorded against each affordable unit to insure that such unit remains affordable for the applicable term. The city manager is hereby granted the authority to execute the resale restriction agreement and any related documents following approval of form documents by the city council.
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Resale Restriction Agreement means Attachment No. 13 to this Agreement.
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Resale Restriction Agreement has the meaning given to such term in the Recitals.
Sample 1

Examples of Resale Restriction Agreement in a sentence

  • In the event that any provision or clause of this Deed of Trust or the Resale Restriction Agreement conflicts with applicable law, such conflict will not affect other provisions of this Deed of Trust or the Resale Restriction Agreement which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and the Resale Restriction Agreement are declared to be severable.

  • He focused on the language in the Resale Restriction Agreement that extended beyond any sale to encompass any “contract to sell,” any “option to purchase,” and any transfer of the “economic risk of ownership.” He noted that the Restricted Stock Grant Agreement did not contain similar language and appeared to restrict only an actual sale, transfer, pledge, hypothecation, or assignment.

  • The Lender shall track the versions of the Resale Restriction Agreement, Program Performance Note and Program Performance Deed of Trust and identify each Lender approved version with an identification number.

  • Notwithstanding any provision herein, this Deed of Trust shall not diminish or affect the rights of the First Lender under the First Lender Deed of Trust or any subsequent First Lender deeds of trust hereafter recorded against the Security in compliance with the requirements of the Resale Restriction Agreement.

  • The cover letter from EMAK that conveyed the grant stated: “The stock will vest equally (one-third per year) over a three year period.” But this was an odd use of the term “vest,” because under Section 2, the transfer restrictions and forfeiture provisions purportedly applied to all 150,000 shares until March 3, 2011.Boutros’s remaining 25,000 shares were governed by a Resale Restriction Agreement dated November 6, 2009.

  • If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds will be used to repay any amounts due under the Resale Restriction Agreement, with the excess, if any, paid to Owner.

  • Deed restricted for-sale units are further secured through a Buyer’s Occupancy and Resale Restriction Agreement.

  • Owner will observe and perform all of the covenants and agreements of the Resale Restriction Agreement.

  • Owner will promptly pay to the City, when and if due pursuant to the Resale Restriction Agreement, the Excess Sales Proceeds and Excess Rents.

  • If the Security is abandoned by Owner, or if Owner fails to respond to the City, or its designated agent, within thirty (30) days from the date notice is mailed by either of them to Owner that the insurance carrier offers to settle a claim for insurance benefits, the City, or its designated agent, is authorized to collect and apply the insurance proceeds at the City's option either to restoration or repair of the Security or to pay amounts due under the Resale Restriction Agreement.


More Definitions of Resale Restriction Agreement

Resale Restriction Agreement means the Buyer's Resale Restriction Agreement and Option to Purchase Agreement executed by the Owner and the City in connection with the Owner's purchase of the Home.
Sample 1
Resale Restriction Agreement means a resale restriction agreement to encumber a for-sale or Moderate Income Unit or a Bridge Home in form and substance acceptable to both Developer and the Agency.
Sample 1
Resale Restriction Agreement means the agreement executed by each Buyer of an Affordable Unit at the close of escrow of the Affordable Unit that delineates the restrictions to which the Buyer of the Affordable Unit is subject, such as resale controls, payment of any excess proceeds of sale to the City, and the City’s option, at time of sale, to purchase the Affordable Unit at a restricted price.
Sample 1

Related to Resale Restriction Agreement

  • Resale Restriction Termination Date shall have the meaning specified in Section 2.05(c).

  • Existing Transfer Restrictions means Transfer Restrictions on the Collateral Shares:

  • Transfer-Restricted Security means any Security that constitutes a “restricted security” (as defined in Rule 144); provided, however, that such Security will cease to be a Transfer-Restricted Security upon the earliest to occur of the following events:

  • Transfer Restriction means any condition to or restriction on the ability of the Subscriber to pledge, sell, assign or otherwise transfer the Shares under any organizational document, policy or agreement of, by or with the Company, but excluding the restrictions on transfer described in paragraph 6(c) of this Subscription Agreement with respect to the status of the Shares as “restricted securities” pending their registration for resale or transfer under the Securities Act in accordance with applicable securities laws.

  • Restricted Stock Purchase Agreement means a written agreement between the Company and the Optionee evidencing the terms and restrictions applying to stock purchased under a Stock Purchase Right. The Restricted Stock Purchase Agreement is subject to the terms and conditions of the Plan and the Notice of Grant.

  • Stockholder Agreement means the Stockholder Agreement, dated as of August 29, 2003, among the Company and its stockholders, as amended and in effect from time to time.

  • Founder Shares Purchase Agreement shall have the meaning given in the Recitals hereto.

  • Transfer Restricted Note means any Note that bears or is required to bear the Restricted Notes Legend.

  • Put Option Agreement has the meaning provided for in the Recitals.

  • Transfer Restrictions means restrictions that prohibit the sale, exchange, transfer, assignment, pledge, hypothecation, fractionalization, hedge or other disposal (including through the use of any cash-settled instrument), whether voluntarily or involuntarily by the Grantee, of an Award or any shares of Common Stock, cash or other property delivered in respect of an Award.

  • Shareholder Agreement has the meaning set forth in the Recitals.

  • Transfer Restricted Securities means securities that bear or are required to bear the legend set forth in Section 2.06 hereof.

  • Put Restriction means the days between the beginning of the Pricing Period and Closing Date. During this time, the Company shall not be entitled to deliver another Put Notice.

  • Restricted Share Agreement means the agreement between the Company and the recipient of a Restricted Share which contains the terms, conditions and restrictions pertaining to such Restricted Shares.

  • Stock Purchase Agreement means the agreement between the Company and a Purchaser who acquires Shares under the Plan that contains the terms, conditions and restrictions pertaining to the acquisition of such Shares.

  • Restricted Stock Agreement means the agreement between the Company and the recipient of a Restricted Share that contains the terms, conditions and restrictions pertaining to such Restricted Share.

  • Transfer Restriction Event shall have the meaning specified in Section 2.11.

  • Securities Purchase Agreement means that certain securities purchase agreement, dated as of the Subscription Date, by and among the Company and the initial holders of the Notes pursuant to which the Company issued the Notes, as may be amended from time to time.

  • Restrictive Covenant Agreement means any agreement, and any attachments or schedules thereto, entered into by and between the Participant and the Partnership or its Affiliates, pursuant to which the Participant has agreed, among other things, to certain restrictions relating to non-competition (if applicable), non-solicitation and/or confidentiality, in order to protect the business of the Partnership and its Affiliates.

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;

  • Alternate VRDP Shares Purchase Agreement means any agreement with a successor liquidity provider replacing the VRDP Shares Purchase Agreement (or any replacement therefor) upon its termination in accordance with its terms and containing a Purchase Obligation substantially similar to the Purchase Obligation therein, as determined by the Fund.

  • Transfer Restricted Notes means Definitive Notes and any other Notes that bear or are required to bear the Restricted Notes Legend.

  • Stockholders Agreement means the Stockholders Agreement, dated as of the date hereof, by and among the Company and the other parties thereto.

  • Standstill Agreement shall have the meaning set forth in Section 6.03.

  • Conversion Agreement shall have the meaning set forth in the Recitals.

  • Preferred Stock Purchase Agreement means the Preferred Stock Purchase Agreement, dated September 7, 2008, between the Company and the United States Department of the Treasury.