Eligible Tenant definition

Eligible Tenant means, as of any date of determination, a bona fide third party lessee of a Property who satisfies each of the following criteria:

Eligible Tenant means a tenant that:

Eligible Tenant means persons whose Annualized Gross Income (as computed at the time of application of such person or family for residence in such Unit) from whatever sources derived and before taxes and withholdings utilizing the Section 8 definition of income, does not exceed 60% of the HUD-specified Area Median Family Income.

Examples of Eligible Tenant in a sentence

• The following Project Employer(s) listed above are also Eligible Tenants (as described in Section 3 of the Agreement): , and I hereby certify that each such Eligible Tenant has fully complied with the requirements of Section 3 of the Agreement, including without limitation, the Hotel Requirement (as described in Section 15 of the Agreement) and the requirement to be a dues-paying member in good standing of the Overland Park Chamber of Commerce and the Overland Park Economic Development Council.

• If any Project Employer Office Lease shall be terminated early or otherwise expire, or if any Eligible Tenant shall vacate or abandon its space within the Project, then Developer and Eligible Tenant shall provide the City with information regarding the same in any such report.

• Developer further agrees to cause each Eligible Tenant to make at least seventy-five percent (75%) of all hotel reservations directly within its control for or on behalf of out-of-town guests, employees and other visitors with hotels located in the City of Overland Park and to generally promote the use of hotels and convention/meeting facilities located in the City of Overland Park, Kansas, by the Eligible Tenant’s out-of-town guests, employees and other visitors.

• Developer hereby understands and agrees that it shall not enter into any Project Employer Office Lease for an Eligible Tenant or a Project Employer Office Lease for any other space which is 10,000 rentable square feet or greater within the Building without the City's prior written consent, which consent shall not be unreasonably withheld.

• On or before January 31, 2022, and on or before January 31st of each year thereafter through January 31, 2031, the Developer and Eligible Tenant shall certify to the City the number of Project Employees and the average wage of the full-time equivalent Project Employees employed at the Project in the form of the report which is attached hereto as Exhibit A and by this reference made a part hereof (the "Employment Certification").

More Definitions of Eligible Tenant

Eligible Tenant means the current tenant of the unit, so long as that tenant is eligible to occupy the unit under the requirements of Section 42 of the Internal Revenue Code. This expressly includes a tenant whose income would not currently qualify under Section 42, but who was qualified at the time of the tenant’s original occupancy of the unit.

Eligible Tenant means a bona fide third-party lessee of a Property who satisfies each of the following criteria:

Eligible Tenant means an Operating Tenant which (a) is not in arrears on any required rental payment, principal or interest payment, payments of real property taxes or payments of premiums on insurance policies with respect to its lease or sublease beyond the later of (i) the applicable grace period with respect thereto, if any, and (ii) forty-five (45) days; (b) is not subject to a then‑continuing Bankruptcy Event; and (c) is reasonably acceptable in all material respects to the Administrative Agent and the Required Lenders (it being understood that for purposes of this clause (c), each Operating Tenant set forth on Schedule 5.12 hereto on the Closing Date [as updated pursuant to any Borrower Joinder Agreement], is deemed acceptable).

Eligible Tenant means a Tenant who meets all the qualifications set out in Schedule B;

Eligible Tenant means, at as any date of determination, a bona fide third party lessee of a Property who satisfies each of the following criteria, as certified by the Borrowers in the most recent Compliance Certificate delivered prior to such date of determination:

Eligible Tenant means a Tenant that, as of any date of determination, (A) (i) is not a debtor in any state or federal bankruptcy or insolvency proceeding, and (ii) conforms to Borrowers’ internal tenant underwriting criteria existing as of the date such Tenant entered into the related Lease Agreement, a copy of such criteria (effective as of the date of this Agreement) are set forth on Schedule 3 to the Property Management Agreement, which schedule may be updated from time to time, subject to Lender’s approval, or (B) is otherwise approved by Lender as an Eligible Tenant.

Eligible Tenant means a tenant of the Housing Complex whose total annual gross household income at the time the tenant enters into the lease does not exceed the income limit specified by MHRC. The initial income limit to be used is set out in subsection 8.05;