Eligibility and Occupancy Requirements Clause Samples
Eligibility and Occupancy Requirements
Residency Requirements 1. All single first-year freshmen students are required to live in University housing for at least two academic semesters. All single students who have earned less than 30 credit hours and have not resided in University housing for two academic semesters are required to live on campus for two academic semesters. This policy does not apply to single first-year students who have been out of high school for more than one year, or to single first-year freshmen who live with their parents in Miami-Dade or Broward Counties. Neither does it apply to those students who, for disciplinary or administrative reasons, may be denied the privilege of continued residency on campus. 2. Undergraduate students residing in University housing must be regularly enrolled students of the University, taking a minimum of 12 credit hours each semester. Graduate students (when housed by exception) must carry a minimum of nine credit hours per semester. To apply and sign-up for University Village apartments, students must have 45 or more completed academic credits. In order to move into University Village, students must have 60 or more completed academic credits or have completed 4 academic semesters at the University and be achieving satisfactory academic progress as defined by the University Bulletin.
Eligibility Requirements The Trustee hereunder shall at all times (i) be a corporation or association having its principal office in a state and city acceptable to the Seller, organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, or shall be a member of a bank holding system, the aggregate combined capital and surplus of which is at least $50,000,000, provided that its separate capital and surplus shall at all times be at least the amount specified in Section 310(a)(2) of the Trust Indenture Act of 1939, (ii) be subject to supervision or examination by federal or state authority and (iii) have a credit rating or be otherwise acceptable to the Rating Agencies such that neither of the Rating Agencies would reduce their respective then current ratings of the Certificates (or have provided such security from time to time as is sufficient to avoid such reduction) as evidenced in writing by each Rating Agency. If such corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation or association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.08.
Possession and Occupancy The Seller will deliver possession and occupancy of the Property to the Buyer at Closing. The Seller shall provide access to all locks, including keys, remote controls, and any security/access codes, necessary to operate all locks, mailboxes, and security systems.
Residency Requirement All students in baccalaureate degree programs must earn the following from the University of Maine at Farmington:
POSSESSION AND OCCUPATION 7.1 Possession and occupation of the Property shall be taken by the Purchaser on the Possession Date, on which date all risk and benefit in respect thereof shall pass to the Purchaser. 7.2 The Seller shall use its best endeavours to ensure that the Property is available for occupation by the Estimated Possession Date. 7.3 Notwithstanding the aforesaid and should the Seller for whatsoever reason fail to give the Purchaser occupation of the Property by the Estimated Possession Date, the Purchaser acknowledges the fact that the Estimated Possession Date is only an estimated date and the Purchaser accordingly shall have no claim of whatsoever nature whether for cancellation or damages against the Seller as a result of such failure. 7.4 The Seller shall endeavour to give the Purchaser not less than 30 (thirty) days’ written notice of its intention to tender possession of the Property to the Purchaser. 7.5 Occupation of the Property by the Purchaser or anybody through the Purchaser shall not create a tenancy, that is to say, in the event of this Agreement being cancelled all rights to the occupation of the Property shall lapse and the Property shall be forthwith vacated. 7.6 The Purchaser acknowledges that all Sections within the Scheme may at the Transfer Date not be fully complete and that the Purchaser may suffer a slight inconvenience as a result. The Seller will however, prior to the Transfer Date, ensure that should such Sections in close proximity to the Property not be complete that it will be secured and closed off to limit any such inconvenience. 7.7 From the Possession Date until the Transfer Date the Purchaser shall - 7.7.1 keep the Property in good repair; 7.7.2 permit the Seller or its agent at all reasonable times to enter and inspect the Property subject thereto that the Purchaser has been given prior notice of any such intended inspection; 7.7.3 be responsible for all costs of electricity and water consumed on any part of the Property insofar as these may be separately metered; 7.7.4 be responsible for all obligations of an owner of a Section and the person holding exclusive use rights as set out in the Sectional Titles Act and the Sectional Titles Schemes Management Act; and 7.7.5 comply with all rules and regulations applicable to the Scheme. 7.8 The Purchaser hereby indemnifies the Seller and holds it harmless against any and all claims, expenses, liabilities and/or damages incurred or suffered by the Seller after the Possession Date.