Condominium Declaration Sample Clauses

Condominium Declaration. All Alterations and the Tenant Improvements are subject to compliance with the Condominium Declaration.

Condominium Declaration. Subsequent to the Real Estate Closing and prior to the Project Commencement Closing, the Developer and the Holding Company shall prepare a condominium declaration, plat and association documents (collectively, the “Condominium Documents”) for the purpose of subjecting the fee interest in the Project Parcel to the condominium form of ownership, pursuant to the Wisconsin Condominium Act. The condominium to be established by the Condominium Documents (the “Condominium”) is anticipated to be a five-unit condominium consisting of units (each, a “Unit”) within which the five Project Elements will be constructed: (i) the Block 88 Office Building Unit, the Hotel Unit, the Block 105 Future Expansion Unit (these three Units, collectively the “Private Units”) and

Condominium Declaration. If (i) Seller or Owner receive a written notice of a default under the Condominium Declaration prior to Closing or (ii) the Condominium Estoppel reveals any defaults under the Condominium Declaration, then Seller shall notify Purchaser thereof in writing and either Seller or Purchaser, each in its sole discretion, may elect to adjourn the Scheduled Closing Date from time to time for up to one hundred eighty (180) days in the aggregate, during which period Seller shall use commercially reasonable efforts to cure such alleged default, such cure to be at Seller’s sole cost and expense. If after the expiration of such one hundred eighty (180) day period, Seller has not cured such alleged default, Purchaser may elect to terminate this Agreement upon thirty (30) days prior written notice and receive a full refund of the Deposit and Interest accrued thereon and reimbursement from Seller up to an amount not to exceed [ ] ($[ ]), for the reasonable costs and expenses actually incurred by Purchaser in connection with Purchaser’s negotiation and execution of this Agreement and due diligence with respect to the Property; provided, however, that if such default has been cured within such thirty (30) day period, Purchaser’s election to terminate shall be null and void. Seller shall give Purchaser at least ten (10) days prior written notice of the new Scheduled Closing Date pursuant to this Section 8.10. Any default under the Condominium Declaration shall be deemed cured if Seller shall obtain a replacement Condominium Estoppel which shall not contain any exception relating to such default. Any matter which is the subject of an alleged default under the Condominium Declaration and subject to cure under this Section 8.10 shall not constitute a breach of any representation hereunder until such time as Seller is no longer entitled to cure the same.] [if applicable]

Condominium Declaration. Borrower hereby represents and warrants to Lender that (i) Cedar-▇▇▇▇▇▇▇, LLC, a Delaware limited liability company is the sole owner of all of the Units (as defined in the Condominium Declaration), Common Elements (as defined in the Condominium Declaration), Limited Common Elements (as defined in the Condominium Declaration) and other real property subject to the Condominium Declaration, (ii) Borrower is the sole Declarant (as defined in the Condominium Declaration) under the Condominium Declaration, (iii) the Association (as defined in the Condominium Declaration) has never been formed and there is no condominium association or other homeowner’s association in existence as of the date hereof, (iv) as of the date hereof, Borrower, as the holder of the Declarant rights, is not aware of any violation of the covenants, conditions, restrictions, rules and regulations set forth in the Condominium Declaration, and (v) the assessment regime set forth in the Condominium Declaration has not been established or imposed and, as of the date hereof, there are no assessments due and owing under the Condominium Declaration.

Condominium Declaration. (a) Notwithstanding anything to the contrary contained in the form of Condominium Declaration attached as Exhibit E to the Operating Agreement, the right of first offer to lease in favor of NYTC under Section 5(d) of Article XX thereof, shall not become effective as to any of the First Offer Space (as defined in the form of Condominium Declaration attached as Exhibit E to the Operating Agreement) until the earlier of (i) the first anniversary of the Completion Date and (ii) the date on which such portion of the First Offer Space becomes available for leasing after the expiration of the term of the initial lease of such portion of the First Offer Space. (b) The Members further agree that the form of Condominium Declaration and By-laws attached as Exhibit E to the Operating Agreement shall be revised to incorporate the changes thereto which are indicated on Exhibit C attached hereto.

Condominium Declaration. The Owner shall include a reference in its recorded condominium Declaration to this Easement and Road Maintenance Agreement.

Condominium Declaration. Seller and Purchaser shall jointly cause the Board of Managers to execute and deliver an Agreement by and among Purchaser, the Condominium (acting through the Board of Managers), Seller and Citigroup in the form of EXHIBIT P attached hereto pursuant to the provisions of which the Purchaser and the Condominium (acting through the Board of Managers) shall agree as follows: at all times when the Citi Office Lease is in effect, the Building shall be owned in the condominium form of ownership; at all times when the Citi Office Lease is in effect, there shall in no event or under any circumstances be any subdivision of Unit 2; at all times when the Citi Office Lease is in effect, there shall in no event be more than three subdivisions of Unit 1 into separate condominium units; at all times when the Citi Office Lease is in effect, all condominium units into which Unit 1 may be subdivided shall at all times be either directly or indirectly owned and controlled by a single entity, it being agreed by the parties hereto that ownership of any such subdivided condominium unit by an "exchange accommodation title holder" or a "qualified intermediary" in connection with a tax deferred exchange under Section 1031 of the Internal Revenue Code entered into by the owner of Unit 1 or the condominium units into which Unit 1 has been subdivided in accordance with the provisions of Section 5.9(c) shall not constitute a violation of this subsection (d), provided that at the conclusion of such tax deferred exchange (i.e., the transfer of such subdivided condominium unit by such "exchange accommodation title holder" or "qualified intermediary" to the ultimate purchaser thereof) such subdivided condominium unit and all of the other condominium units into which Unit 1 has been so subdivided are either directly or indirectly owned and controlled by a single entity; at all times when the Citi Office Lease is in effect, there shall in no event or under any circumstance be any reallocation of space between or among any of ▇▇▇▇ ▇, ▇▇▇▇ ▇ or any other condominium unit into which Unit 1 has been subdivided in accordance with the provisions of this Section; at all times when the Citi Office Lease is in effect, the tenant under the Citi Office Lease shall at all times be entitled to have a representative present at all meetings of the Board of Managers and shall be entitled to present its views on any and all matters before the Board of Managers; at all times when the Citi Office Lease is in e...

Condominium Declaration. With respect to the Project, that certain Master Deed for Dunes Village Horizontal Property Regime dated October 10, 2007 and recorded on October 16, 2007, as Instrument No. 2007000146944 in Deed Book 3284, Page 2688, in the Public Records at Horry County, South Carolina, as such document may be amended from time to time.

Condominium Declaration. The Condominium Declaration shall have been duly recorded in the office of the Philadelphia Department of Records. In addition, pursuant to the provisions of Section 7.03 of the Condominium Declaration, Seller shall have amended the originally-filed Condominium Declaration in form and substance reasonably satisfactory to Purchaser to subdivide Units 1, 2 and 3 identified therein so as to create the “Subunits” (as defined in the Condominium Declaration) that constitute the Owned Real Assets and the Leased Real Property; such amendment shall generally be in the form of Exhibit R attached hereto. The Condominium Association shall have been duly formed and the Condominium Bylaws shall have been duly adopted at the organizational meeting of the Board of Directors thereof.