AHAP Contract Clause Samples

The AHAP (Agreement to Enter into Housing Assistance Payments Contract) clause establishes the preliminary agreement between a property owner and a public housing agency prior to the execution of a formal Housing Assistance Payments (HAP) contract. This clause outlines the conditions that must be met before the HAP contract can be finalized, such as property inspections, compliance with housing quality standards, and completion of necessary repairs or improvements. By setting these requirements in advance, the AHAP clause ensures that both parties understand their obligations and that the property will be eligible for housing assistance payments, thereby reducing the risk of disputes and ensuring program compliance.
AHAP Contract. (i) Borrower shall have delivered to Bondowner Representative a fully executed Agreement to Enter into a Housing Assistance Payments Contract, in a form approved by Bondowner Representative in its sole discretion (the “AHAP Contract”), pursuant to which Contract Administrator agrees to enter into a Section 8 Housing Assistance Payments Contract with Borrower and provide Section 8 Housing Assistance Payments to Borrower following the completion of the Improvements for a minimum of thirty-nine (39) units and for a term of not less than fifteen (15) years with an automatic extension option for an additional fifteen (15) years, (ii) Borrower shall have granted a collateral assignment of the AHAP to Bondowner Representative pursuant to that certain Assignment of Housing Assistance Payment Contract and Housing Assistance Payments dated as of even date herewith executed by Borrower in favor of Bondowner Representative (“Assignment of AHAP”) and Contract Administrator shall have consented to such Assignment of HAP in a form approved by Bondowner Representative in its sole discretion (“Consent to Assignment of AHAP”).
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AHAP Contract. ▇▇▇▇▇▇▇▇ agrees that it shall not modify, amend, terminate or reduce the number of Project units included under the scope of the HAP Contract or AHAP Contract without first obtaining Bondowner Representative’s prior written consent. Borrower will timely perform all obligations of Borrower with respect to the HAP Contract and the AHAP Contract, and shall take all actions necessary to maintain the HAP Contract and the AHAP Contract in full force and effect and to prevent the termination or reduction of the Section 8 Payments to the Project provided thereunder.
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AHAP Contract. (i) Borrower shall have delivered to Bondowner Representative a fully executed copies of the AHAP Contracts, and (ii) Borrower shall have granted a collateral assignment of the AHAP Contracts to Bondowner Representative pursuant to that certain Assignment of Housing Assistance Payment Contract and Housing Assistance Payments dated as of even date herewith executed by ▇▇▇▇▇▇▇▇ in favor of Bondowner Representative (“Assignment of AHAP”) and Contract Administrator shall have consented to such Assignment of HAP in a form approved by Bondowner Representative in its sole discretion (“Consent to Assignment of AHAP”).
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AHAP Contract. The Agreement to Enter Into Housing Assistance Payments Contract entered into between Borrower and the Housing Authority, and effective as of [ ] [CHECK], for thirty- two (32) Units at the Property, with a term of twenty (20) years and a twenty (20) year renewal option, and on such other terms as are acceptable to the Bank.
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AHAP Contract. The Agreement to Enter Into Housing Assistance Payments Contract between Borrower and the Housing Authority effective as of [ , 2016] [CHECK].
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Related to AHAP Contract

  • Securities Contract; Swap Agreement The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code.

  • Swap Agreement The Depositor hereby directs the Securities Administrator to execute and deliver on behalf of the Trust the Swap Agreement and authorizes the Securities Administrator to perform its obligations thereunder on behalf of the Supplemental Interest Trust in accordance with the terms of the Swap Agreement. The Depositor hereby authorizes and directs the Securities Administrator to ratify on behalf of the Supplemental Interest Trust, as the Supplemental Interest Trust’s own actions, the terms agreed to by the Depositor in relation to the Swap Agreement, as reflected in the Swap Agreement, and the Securities Administrator hereby so ratifies the Swap Agreement. If based upon a notice from the valuation agent pursuant to section 4(c) of the credit support annex, the Securities Administrator determines that a delivery amount exists, then the Securities Administrator shall demand such amount pursuant to section 3(a) of the credit support annex. The Securities Administrator shall amend the Swap Agreement in accordance with its terms and as requested in writing by a party to the Swap Agreement to cure any ambiguity in or correct or supplement any provision of, the Swap Agreement; provided, however, that any such amendment will not have a material adverse effect to a Certificateholder as evidenced by a written confirmation from each Rating Agency that such amendment would not result in the reduction or withdrawal of the then current ratings of any outstanding Class of Certificates. The Swap Agreement shall not part of any REMIC. The Swap Provider is the calculation agent under the Swap Agreement and shall calculate all amounts pursuant to the Swap Agreement and notify the Securities Administrator of all such amounts. The Depositor hereby directs the Securities Administrator to execute, deliver and perform its obligations under the Swap Agreement on the Closing Date and thereafter on behalf of the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates. The Seller, the Depositor, the Servicer and the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates by their acceptance of such Certificates acknowledge and agree that the Securities Administrator shall execute, deliver and perform its obligations under the Swap Agreement and shall do so solely in its capacity as Securities Administrator of the Supplemental Interest Trust and not in its individual capacity. The Depositor hereby instructs the Securities Administrator to make any and all demands for Eligible Collateral (as defined in the ISDA Master Agreement) under the Swap Agreement from the Swap Provider in satisfaction of the Delivery Amount (as defined in the ISDA Master Agreement) requirement. The Depositor hereby instructs the Securities Administrator to deliver notice to the Swap Provider upon any failure of the Swap Provider to transfer the Delivery Amount (as defined in the ISDA Master Agreement) pursuant to an Approved Credit Support Document (as defined in the Swap Agreement).

  • Swap Contracts The Company shall not and shall not permit any of its Subsidiaries to enter into any Swap Contracts, other than Swap Contracts entered into by the Company or its Subsidiaries pursuant to which the Company or such Subsidiary has hedged its reasonably estimated interest rate, foreign currency or commodity exposure, and which are non-speculative in nature.

  • Swap Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any of its Subsidiaries), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Subsidiary.

  • Banking Services and Swap Agreements Each Lender or Affiliate thereof providing Banking Services for, or having Swap Agreements with, any Loan Party or any Subsidiary or Affiliate of a Loan Party shall deliver to the Administrative Agent, promptly after entering into such Banking Services or Swap Agreements, written notice setting forth the aggregate amount of all Banking Services Obligations and Swap Agreement Obligations of such Loan Party or Subsidiary or Affiliate thereof to such Lender or Affiliate (whether matured or unmatured, absolute or contingent). In furtherance of that requirement, each such Lender or Affiliate thereof shall furnish the Administrative Agent, from time to time after a significant change therein or upon a request therefor, a summary of the amounts due or to become due in respect of such Banking Services Obligations and Swap Agreement Obligations. The most recent information provided to the Administrative Agent shall be used in determining which tier of the waterfall, contained in Section 2.18(b), such Banking Services Obligations and/or Swap Agreement Obligations will be placed.