Use Restriction definition
Examples of Use Restriction in a sentence
Each lease of residential units in the Project to a residential tenant shall be on a form of lease approved by the Servicer and shall be in compliance with the requirements of the Regulatory and Land Use Restriction Agreement.
The Developer’s Option to Convert Use Restriction ("Conversion Option"): Any time during the last 18 months of the Initial Term, the Developer shall have the right, by delivery of a written notice (the “Notice”) to the County Manager, during such period of time, to express its intent to convert the Restricted Space and Bonus Space portions of the Demised Premises to unrestricted use by the Developer (“Conversion Option”).
The ownership of the Project, the renovation of the Project, and the use and operation of the Project as contemplated hereby do and shall, in all material respects, comply with, and are lawful and permitted uses under, the Tax Certificate and the Regulatory and Land Use Restriction Agreement, all applicable building, fire, safety, zoning, subdivision, sewer, Environmental Laws, health, insurance and other Legal Requirements and plan approval conditions of any Governmental Authority.