Eligible Purchaser Sample Clauses

The Eligible Purchaser clause defines the criteria that a party must meet to be permitted to purchase certain goods, services, or securities under the agreement. Typically, this clause outlines specific qualifications such as financial status, regulatory compliance, or accreditation requirements that a purchaser must satisfy before being allowed to participate in the transaction. By setting these standards, the clause ensures that only qualified and appropriate parties are involved, thereby reducing legal and financial risks for the seller and maintaining compliance with applicable laws or regulations.
POPULAR SAMPLE Copied 1 times
Eligible Purchaser. A Proposed Purchaser shall qualify as an "Eligible Purchaser" if he or she meets the following requirements, as determined by the City:
View SourceView Similar (10)
Eligible Purchaser. 33 ERISA................................................................. 9
View SourceView Similar (2)
Eligible Purchaser. The term “Eligible Purchaser” means each of the purchasers (i.e., all persons identified as having a property ownership interest vested in the Inclusionary Unit as of the close of the Inclusionary Unit Escrow) of an Inclusionary Unit that is subject to the Affordable Housing Covenant of Developer set forth in Section 2.2. At the close of the Inclusionary Unit Escrow, the Qualified Purchaser shall: (i) have an annual Adjusted Household Income which does not exceed the household income qualification limits of either a Very Low-Income Household, Low-Income Household, or a Moderate-Income Household, and (ii) pay no more than the Affordable Purchase Price for the Inclusionary Unit.
View Source
Eligible Purchaser. For purposes of this Section 4, (i) an “Eligible Purchaser” means, subject to the provisions of Section 4.7 hereof with respect to termination of any particular Investor’s rights of first purchase hereunder, an Investor holding at least 500,000 shares of Series A, Series A-1, Series B, Series C or Series D Preferred, (as adjusted for stock dividends, combinations, stock splits and the like) at the time of such issuance of New Securities, and any affiliate of such Investor, and (ii) an “affiliate” of an Investor means (x) a partner, member or shareholder of such Investor, or any entity or person controlling, under common control with or controlled by an Investor, (y) in the case of ZCG, includes any principal, employee or investment advisory client of ZCG and (z) in the case of an MDS Entity, includes any MDS Entity. Each affiliate of an Investor is intended as a third party beneficiary hereunder solely with respect to the provisions of this Section 4, provided that a waiver by an Investor of any right, notice requirement, time period or other term or condition of this Section 4 will also be deemed to constitute a waiver by all affiliates of such Investor.
View Source
Eligible Purchaser. To be an Eligible Purchaser, any subsequent purchaser shall have an income, certified by the City or its designee, which is one hundred twenty percent (120%) or less of current median income, as determined by the U.S. Department of Housing and Urban Development based on the Oakland Primary Metropolitan Statistica1 Area (PMSA) median income levels, adjusted for household size.
View Source
Eligible Purchaser. As used in this Covenant, “Eligible Purchaser” shall mean an individual or household who at the time of qualification has an annual income equal to or less than 240% of the median household income for Dukes County as calculated and adjusted for household size from time to time by HUD, and owning assets with value not in excess of an amount equal to eighty (80%) of the appraised value of the Premises, and which individual or household has been qualified and approved by the Seller in writing to own the Premises in accordance with the restrictions of this Covenant. Said individual or household must provide to Seller) such certifications as to income, assets, and residency as Seller may require for it to determine eligibility as an Eligible Purchaser. To be considered an Eligible Purchaser, the individual or household must intend to occupy and thereafter must occupy the Premises as his, her or their principal residence, and thereafter an Eligible Purchaser must occupy the Premises as his, her or their principal residence for at least eleven (11) months of each calendar year. Vacation rental, short-term or seasonal rental of the Premises, and any use of the Premises or activity thereon inconsistent with exclusive year-round residential use is prohibited. For purposes of this Covenant, household size is determined as the number of bedrooms plus one, i.e., a two bedroom house shall be deemed appropriate for a three person household for the purposes of income eligibility and price setting; a three bedroom house shall be deemed appropriate for a four person household; a four bedroom house shall be deemed appropriate for a five person household; and a five bedroom house shall be deemed appropriate for a six person household.
View Source
Eligible Purchaser. To be considered an Eligible Purchaser of an Affordable Workforce Housing Unit for sale (For Sale Dwelling), the individual or household must own and occupy the For Sale Dwelling as his, her or their principal residence, meets the definition of Workforce Resident, and comply with the Maximum Income limits stated herein. Any use of the For Sale Dwelling or any activity thereon which is inconsistent with the purpose of this Deed Restriction is expressly prohibited, unless the Affordable Workforce Housing Unit is leased out in accordance with the terms of Section 2(a).
View Source
Eligible Purchaser. Eligible Purchaser shall mean a Proposed Purchaser who meets the following requirements, as determined by SDCLT:
View Source

Related to Eligible Purchaser

  • Eligible Purchasers This Contract may be utilized by any of the following types of entities (each an eligible “Purchaser”): 2.1. WASHINGTON STATE AGENCIES. All Washington state agencies, departments, offices, divisions, boards, and commissions. 2.2. WASHINGTON STATE INSTITUTIONS OF HIGHER EDUCATION (COLLEGES). Any the following institutions of higher education in Washington: ▪ State universities – i.e., University of Washington & Washington State University; ▪ Regional universities – i.e., Central Washington University, Eastern Washington University, & Western Washington University ▪ Evergreen State College; ▪ Community colleges; and ▪ Technical colleges.

  • Sale Purchase (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from SLM ECFC of the related ▇▇▇▇ of Sale, (ii) the payment by Funding to SLM ECFC of the Initial Payment and (iii) the assignment to SLM ECFC of the Excess Distribution Certificate. Upon consummation, such sale and purchase shall be effective as of the date of the ▇▇▇▇ of Sale. SLM ECFC and Funding shall use their best efforts to perform promptly their respective obligations pursuant to such Purchase Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Date, Funding shall pay to SLM ECFC the Initial Payment by wire transfer of immediately available funds to the account specified by SLM ECFC. (C) Interest Subsidy and Special Allowance Payments and Rebate Fees SLM ECFC shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans up to but not including the related Payment Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to Purchased Loans accruing up to but not including the related Payment Cutoff Date. The Interim Eligible Lender Trustee on behalf of Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Purchased Loans accruing from, and including, the related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to Purchased Loans accruing from, and including, the Payment Cutoff Date.

  • Reasonable Purchase Price The consideration received by the Seller upon the sale of the Mortgage Loans under this Agreement constitutes fair consideration and reasonably equivalent value for the Mortgage Loans.

  • Investor The Investor must execute and deliver a Securities Purchase Agreement, and must complete a Certificate Questionnaire (in the form attached as Exhibit A hereto) and an Investor Questionnaire (in the form attached as Exhibit C hereto) in order to purchase the Securities.

  • Qualifying Substitute Mortgage Loan In the case of a Mortgage Loan substituted for a Deleted Mortgage Loan pursuant to the terms of this Agreement, a Mortgage Loan that, on the date of such substitution, (i) has an outstanding Stated Principal Balance (or in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate Stated Principal Balance), after application of all Scheduled Payments due during or prior to the month of substitution, not in excess of, and not more than 5% less than, the outstanding Stated Principal Balance of the Deleted Mortgage Loan as of the Due Date in the calendar month during which the substitution occurs, (ii) has a Mortgage Rate not less than, and not more than 0.50% higher than, the Mortgage Rate on the Deleted Mortgage Loan, (iii) if applicable, has a maximum Mortgage Rate not less than the maximum Mortgage Rate on the Deleted Mortgage Loan, (iv) has a minimum Mortgage Rate not less than the minimum Mortgage Rate of the Deleted Mortgage Loan, (v) has a gross margin equal to or greater than the gross margin of the Deleted Mortgage Loan, (vi) has a next adjustment date not later than the next adjustment date on the Deleted Mortgage Loan, (vii) has the same Due Date as the Deleted Mortgage Loan, (viii) has a remaining stated term to maturity not longer than 18 months and not more than 18 months shorter than the remaining stated term to maturity of the related Deleted Mortgage Loan, (ix) is current as of the date of substitution, (x) has a Loan-to-Value Ratio as of the date of substitution equal to or lower than the Loan-to-Value Ratio of the Deleted Mortgage Loan as of such date, (xi) has been underwritten by the Seller in accordance with the same underwriting criteria and guidelines as the Deleted Mortgage Loan, (xii) has a risk grading determined by the Seller at least equal to the risk grading assigned on the Deleted Mortgage Loan, (xiii) is secured by the same property type as the Deleted Mortgage Loan, (xiv) conforms to each representation and warranty applicable to the Deleted Mortgage Loan made in the Mortgage Loan Purchase Agreement, (xv) has the same first lien position as the Deleted Mortgage Loan, (xvi) is covered by a primary mortgage insurance policy if the Deleted Mortgage Loan was so covered, (xvii) contains provisions covering the payment of Prepayment Premium by the Mortgager for early prepayment of the Mortgage Loan at least as favorable to the Trust as the Deleted Mortgage Loan, (xviii) has a maturity date not later than the maturity date of the latest maturing Mortgage Loan in the Mortgage Pool as of the Closing Date, (xix) has the same Mortgage Index as the Deleted Mortgage Loan, (xx) if originated on or after November 27, 2003, is not a “high cost” loan subject to the New Jersey Home Ownership Security Act of 2003 and (xxi) if originated on or after January 1, 2004 is not a “high-cost” loan subject to the New Mexico Home Loan Protection Act. In the event that one or more mortgage loans are substituted for one or more Deleted Mortgage Loans, the amounts described in clause (i) hereof shall be determined on the basis of aggregate Stated Principal Balances, the Mortgage Rates described in clause (ii) hereof shall be determined on the basis of weighted average Mortgage Rates, the risk gradings described in clause (xii) hereof shall be satisfied as to each such mortgage loan, the terms described in clause (viii) hereof shall be determined on the basis of weighted average remaining term to maturity, the Loan-to-Value Ratios described in clause (x) hereof shall be satisfied as to each such mortgage loan and, except to the extent otherwise provided in this sentence, the representations and warranties described in clause (xiv) hereof must be satisfied as to each Qualified Substitute Mortgage Loan or in the aggregate, as the case may be.