HOW DOES SHARED OWNERSHIP WORK Sample Clauses

The 'How Does Shared Ownership Work' clause defines the operational framework for shared ownership arrangements, outlining how multiple parties can jointly own and manage a property or asset. Typically, this clause details the proportion of ownership each party holds, the process for making joint decisions, and the responsibilities for costs such as maintenance or taxes. By clarifying these aspects, the clause ensures all parties understand their rights and obligations, reducing the risk of disputes and providing a clear structure for co-ownership.
HOW DOES SHARED OWNERSHIP WORK. Under a shared ownership lease, the Leaseholder buys a 'share' of the property and pays rent on the remaining share of the property (which remains in the ownership of the Landlord). The Leaseholder can buy further shares in the property (at the market value of those shares at the time of purchase), until he or she owns 100%. Buying further shares is referred to as 'staircasing'. As the Leaseholder buys further shares, the rent will be reduced proportionately to reflect the fact that the Landlord's interest in the property has reduced.
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HOW DOES SHARED OWNERSHIP WORK. Under a shared ownership lease, the Leaseholder buys a ‘share’ of the property and pays rent on the remaining share of the property (which remains in the ownership of the Landlord). The Leaseholder can buy further shares in the property at the market value of those shares at the time of purchase. Buying further shares is referred to as ‘staircasing’. When the Leaseholder owns 100%, he or she can acquire the freehold in the property for no charge. As the Leaseholder buys further shares, the rent will be reduced proportionately to reflect the fact that the Landlord’s interest in the property has reduced.
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HOW DOES SHARED OWNERSHIP WORK. Under a shared ownership lease, the Leaseholder buys a ‘share’ of the property and pays rent on the remaining share of the property (which remains in the ownership of the Landlord). The Leaseholder can buy further shares in the property (up to the Maximum Percentage in Protected Areas) at the market value of those shares at the time of purchase. Buying further shares is referred to as ‘staircasing’. Normally, when the Leaseholder owns 100%, he or she can acquire the freehold in the property for no charge, but that does not apply to properties in Protected Areas. As the Leaseholder buys further shares, the rent will be reduced proportionately to reflect the fact that the Landlord’s interest in the property has reduced.
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Related to HOW DOES SHARED OWNERSHIP WORK

  • License and Ownership 1.1 Pursuant to the terms and conditions specified in this Agreement, Starfish hereby grants to Customer, and Customer hereby accepts from Starfish, a nontransferable, nonexclusive right and license to use the software (the “Solution”) identified in the Ordering Document during the Term (as defined in Section 2.1) for Customer’s own internal business purposes. 1.2 The number of the Customer’s employees and/or contractors authorized to use the Solution shall be set forth in the Ordering Document. 1.3 The Solution, including any patents, copyrights, trade secrets, procedures, techniques, data and other intellectual property rights and technology therein, and any derivatives thereof, shall be owned by Starfish, and nothing herein shall be deemed to transfer any ownership interest therein to Customer. Without the prior written consent of Starfish, Customer shall refrain from copying, reverse engineering, disassembling, decompiling, translating or modifying the Solution, or granting any other person or entity the right to do so. 1.4 Unless otherwise specified or provided in the Ordering Document, Customer shall be solely responsible for procuring all rights and licenses for any systems to which the Solution will connect, including, without limitation, any proprietary hardware and software systems that may be required to utilize the Solution.

  • Ownership Rights Nothing contained in this Agreement shall be construed as (a) establishing or granting to Registry Operator any property ownership rights or interests of Registry Operator in the TLD or the letters, words, symbols or other characters making up the TLD string, or (b) affecting any existing intellectual property or ownership rights of Registry Operator.

  • Company Lock Up Agreements The Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Placement Agent, it will not for a period of thirty (30) days after the date of this Agreement (the “Lock-Up Period”), (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any ADSs, Ordinary Shares or other capital stock of the Company or any securities convertible into or exercisable or exchangeable for ADSs, Ordinary Shares or such other shares of capital stock of the Company; (ii) file or cause to be filed any registration statement with the Commission relating to the offering of any ADSs, Ordinary Shares or other shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; or (iii) complete any offering of debt securities of the Company, other than entering into a line of credit with a traditional bank or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of ADSs, Ordinary Shares or other capital stock of the Company, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of ADSs, Ordinary Shares or other shares of capital stock of the Company or such other securities, in cash or otherwise. The restrictions contained in this Section 3.18 shall not apply to (i) the ADSs, Ordinary Shares and the Placement Agent’s Warrant, (ii) the issuance by the Company of ADSs upon the exercise of the Placement Agent’s Warrant or a stock option or warrant or the conversion of a security outstanding on the date hereof, or issuable pursuant to currently existing undertakings of the Company, which is disclosed in the Registration Statement, Disclosure Package and Prospectus, provided that such options, warrants, and securities have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities or to extend the term of such securities, (iii) the issuance by the Company of stock options, shares of capital stock of the Company or other awards under any equity compensation plan of the Company, provided that the underlying shares shall be restricted from sale during the entire Lock-Up Period; and (iv) transactions with members of the management and/or the board of directors of the Company, involving the issuance of equity securities of the Company in consideration of cash, provided that the underlying shares shall be restricted from sale during the entire Lock-Up Period.

  • Work Product Ownership All products of the Contractor’s work, including outlines, reports, charts, sketches, drawings, art work, plans, photographs, specifications, estimates, computer programs, or similar documents become the sole property of the State of Vermont and may not be copyrighted or resold by Contractor.

  • Ownership Interest, Etc The Seller shall (and shall cause the Servicer to), at its expense, take all action necessary or desirable to establish and maintain a valid and enforceable undivided percentage ownership or security interest, to the extent of the Purchased Interest, in the Pool Receivables, the Related Security and Collections with respect thereto, and a first priority perfected security interest in the Pool Assets, in each case free and clear of any Adverse Claim, in favor of the Administrator (for the benefit of the Purchasers), including taking such action to perfect, protect or more fully evidence the interest of the Administrator (for the benefit of the Purchasers) as the Administrator, may reasonably request.