REA; Condominium Sample Clauses

REA; Condominium. Prime Landlord and Sublandlord each hereby acknowledges and agrees that (i) Prime Landlord has the right to subdivide the Property, including without limitation in accordance with that certain Subdivision Plan dated August 4, 2016 and recorded on February 23, 2018 with the Middlesex South Registry of Deeds as Plan No. 140 of 2018, so long as Sublandlord’s use or occupancy of the Premises is not materially impaired; (ii) in connection with any such subdivision or otherwise, Prime Landlord has the right to enter into, and subject the Property to the terms and conditions of, one or more reciprocal easement agreements and/or cross-easement agreements with any one or more of the neighboring property owners (including any owner of any portion of the Property that may be divided from the whole), including without limitation (each, a “REA”); (ii) this Lease shall be subject and subordinate to any REA, provided that such REA shall not materially impair Sublandlord’s use or occupancy of the Premises, and provided, further, that if any REA contains lien rights in favor of such neighboring property owners, such subordination shall be conditioned upon execution of a commercially reasonable subordination, non-disturbance and attornment agreement (“SNDA”); (iv) Prime Landlord has the right to subject the Land and the improvements located now or in the future located thereon to a commercial condominium regime (“Condominium”) on terms and conditions consistent with first-class office and retail buildings; (v) this Lease shall be subject and subordinate to the Master Deed and other documents evidencing the Condominium (collectively, the “Condo Documents”) provided that Sublandlord’s use or occupancy of the Premises is not materially impaired and provided, further, that such subordination shall be conditioned upon execution of a SNDA; and (vi) Sublandlord shall execute such reasonable documents (which may be in recordable form) evidencing the foregoing within ten (10) business days after Prime Landlord’s request.
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Related to REA; Condominium

  • Condominium To the extent that a Public Garage is located on the same Project Parcel as one or more of the Buildings comprising the Private Improvements, and either such Project Parcel is not capable of being subdivided to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision of the Project Parcel, the Redeveloper shall create a Condominium on such Project Parcel in accordance with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper shall prepare a draft of the Condominium Documents for any such Project Parcel for submission to and approval by the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit for the Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for the applicable Condominium shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as are agreed to by the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on the final design and construction of the Improvements located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including any secondary mortgage market requirements). Finalization and recording of the Condominium Declaration (and finalization of the remaining Condominium Documents) shall be a condition precedent to the Redeveloper’s obligation to complete and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use of one or more sub-common interest communities with respect to one or more units located in any underlying master common interest community).

  • Condominium Documents Mezzanine Lender shall have received copies of all Condominium Documents;

  • Real Estate Taxes and Special Assessments The 2022 calendar year real estate taxes due and payable in 2023 shall be paid by Seller. Seller shall credit Buyer(s) at closing for said 2022 real estate taxes payable in 2023 based on the most recent ascertainable tax figures. Xxxxx is responsible for all subsequent real estate taxes.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or HFF, which consent may be withheld in the Owner’s sole discretion.

  • Premises Building Project and Common Areas 1.1 Premises, Building, Project and Common Areas.

  • Land The real property described in Exhibit A attached hereto and made a part hereof (the “Land”);

  • MAINTENANCE OF THE BUILDING /APARTMENT / PROJECT The Promoter shall be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the project by the Association upon the issuance of the completion certificate of the Project. The cost of such maintenance has been included in the Total Extras and Deposits as mentioned in clause 1.2.

  • Building With respect to each parcel of Real Estate, all of the buildings, structures and improvements now or hereafter located thereon. Business Day. Any day on which banking institutions located in the same city and State as the Agent’s Head Office are located are open for the transaction of banking business and, in the case of LIBOR Rate Loans, which also is a LIBOR Business Day.

  • MAINTENANCE OF THE SAID BUILDING / APARTMENT / PROJECT The Promoter shall be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the project by the association of the allottees. The cost of such maintenance has been included in the Total Price of the [Apartment/Plot]. [Insert any other clauses in relation to maintenance of project, infrastructure and equipment]

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