Not Binding on CMHC Sample Clauses

Not Binding on CMHC. This Agreement shall not be binding on the Canada Mortgage and Housing Corporation (“CMHC”) or any mortgagee of the Lands which is an “Approved Lender”, as defined in the National Housing Act, R.S.C. 1985, C.N-11, who holds a mortgage insured pursuant to the National Housing Act. If, during foreclosure by an Approved Lender, the court approves a sale of the Lands or part of the Lands (the “Foreclosed Lands”) to CMHC or any arm’s length bone fide purchaser, then the Local Trust Committee agrees that this Agreement will not apply to the Foreclosed Lands from the time of foreclosure to the expiry of the Leasehold interest for the Foreclosed Lands.
Sample 1
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Not Binding on CMHC. Clauses 5.1 [Payment of Daily Rent] and 5.2 [Rent Charge] shall not be binding on the Canada Mortgage Housing Corporation (“CMHC”) or any mortgagee of the Lands which is an “Approved Lender”, as defined in the National Housing Act, R.S.C. 1985, C.N-11, who holds a mortgage insured pursuant to the National Housing Act. If, during foreclosure by such an Approved Lender, the court approves a sale of the Lands to CMHC or any arms- length bona fide purchaser, then the District will abandon Clauses 5.1 and 5.2 and cause them to be unenforceable and released from this Agreement and from the records registered on title to the Lands.
Sample 1

Related to Not Binding on CMHC

  • Agreement Binding on Successors This Agreement will be binding upon, and inure to the benefit of, the successors of each of the Parties.

  • Binding on Assigns This Settlement shall be binding upon, and inure to the benefit of, the Parties and their respective heirs, trustees, executors, administrators, successors, and assigns.

  • Binding on Successors This Agreement will be binding on, and will inure to the benefit of, the parties to it and their respective heirs, legal representatives, successors, and assigns.

  • Non-Binding Unless expressly authorised in writing by the Group-Wide Lenders and then on such terms and conditions as the Group-Wide Lenders may require, the Steering Committee shall not negotiate the terms of or enter into any agreement on behalf of the Group-Wide Lenders of any of them. This Clause 19 and Clause 14.4 may be relied upon by any member of the Steering Committee notwithstanding the provisions of Clause 17.11.

  • Binding on Successors and Assigns This Agreement shall be binding upon the Senior Representatives, the Senior Secured Parties, the Second Priority Representatives, the Second Priority Debt Parties, the Borrower, the other Grantors party hereto and their respective successors and assigns.

  • Legally Binding The terms of this Agreement contained herein are contractual, and not a mere recital.

  • BINDINGEFFECT Forwarding this Agreement to the Allottee by the Promoter does not create a binding obligation on the part of the Promoter or the Allottee until, firstly, the Allottee signs and delivers this Agreement with all the schedules along with the payments due as stipulated in the Payment Plan within 30 (thirty) days from the date of receipt by the Allottee and secondly, appears for registration of the same before the concerned Sub- Registrar as and when intimated by the Promoter. If the Allottee(s) fails to execute and deliver to the Promoter this Agreement within 30 (thirty) days from the date of its receipt by the Allottee and/or appear before the Registrar/Sub-Registrar/ registrar of Assurance for its registration as and when intimated by the Promoter, then the Promoter shall serve a notice to the Allottee for rectifying the default, which if not rectified within 30(thirty) days from the date of its receipt by the Allottee, application of the Allottee shall be treated as cancelled and all sums deposited by the Allottee in connection therewith including the booking amount shall be returned to the Allottee without any interest or compensation whatsoever.

  • Agreement Binding This Agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto.

  • Valid and Binding Obligation This Agreement constitutes the legal, valid and binding obligation of the Grantor, enforceable against the Grantor in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, and (iii) to the extent the indemnification provisions contained in this Agreement may be limited by applicable federal or state securities laws.

  • Binding This Agreement shall be binding upon, inure to the benefit of, and be enforceable by the parties hereto and their respective successors and assigns.

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