Title and Condition of Amenities Sample Clauses

Title and Condition of Amenities. Subject to the provisions of the Time Share Program Governing Documents as and when the same are recorded, the Time-Share Association or the owners of Time-Share Interests in common will at all times own the furnishings in the Time-Share Project dwelling units and all the common areas in the Time-Share Project and other amenities which have been promised or represented as being available to Purchasers, free and clear of liens and security interests except for the Permitted Encumbrances; and no part of the Time-Share Project is subject to partition by the owners of Time-Share Interests except as permitted by Virginia Code Section 55-373(c). Borrower will maintain or cause to be maintained in good condition and repair all common areas in the Time-Share Project and other amenities which have been promised or represented as being available to Purchaser and which are not the responsibility of the Time-Share Association to maintain and repair. Borrower will maintain a reasonable reserve to assure compliance with the terms of the foregoing sentence.
Sample 1
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Title and Condition of Amenities. Except as otherwise permitted -------------------------------- and disclosed by the Time-Share Program Governing Documents, from and after the first closing for the sale of any Time-Share Interest created or to be created from the Real Property: (i) the Time-Share Association or the owners of Time-Share Interests in common will at all times own all furnishings in the Units and common areas, all common areas in the Time-Share Project and an easement or right to use other amenities which have been promised or represented as being available to Purchasers, free and clear of liens and security interests except for the Permitted Encumbrances; (ii) no part of the Time-Share Project is or will be subject to partition by the owners of Time-Share Interests; and (iii) prior to the closing of any sale of any Time-Share Interest created or to be created from the Real Property, all access roads and utilities and off-site improvements necessary to the use of the Time-Share Project will be dedicated to and/or accepted by the responsible governmental authority or utility company or will be owned by an association of owners of property in a larger planned development or developments of which the Time Share Project is a part ("Planned Development Association"), unless the access roads, utilities and off-site improvements which are not so dedicated, accepted and owned are being constructed as part of the Construction Improvements, there exists no Uncovered Cost of Construction Work and the non- completion of such roads, utilities and improvements have been disclosed to the Purchaser. Borrower will maintain or cause to be maintained in good condition and repair all amenities and common areas which have been promised or represented as being available to Purchasers and all roads and off-site improvements which are not the responsibility of the Time-Share Association or the Planned Development Association to maintain and repair and have not been dedicated to or accepted by the responsible governmental authority or utility; and, to the extent owned by Borrower or an Affiliate of Borrower, all portions of improvements in which Units are located and are not part of the Time-Share Project. Borrower will cause the Time-Share Association to maintain a reasonable reserve to assure compliance with the terms of the foregoing sentence.
Sample 1

Related to Title and Condition of Amenities

  • Title and Condition (a) The Leased Premises are demised and let subject to (i) the rights of any Persons in possession of the Leased Premises, (ii) the existing state of title of any of the Leased Premises, including any Permitted Encumbrances, (iii) any state of facts which an accurate survey or physical inspection of the Leased Premises might show, (iv) all Legal Requirements, including any existing violation of any thereof, and (v) the condition of the Leased Premises as of the commencement of the Term, without representation or warranty by Landlord.

  • Title and Condition of Assets Except for Lessee's leasehold interest in the Lease, the Lessee has good, marketable and legal title to its properties and assets. The Lessee has a good and valid leasehold interest in the Lease.

  • Environmental Compliance and Conditions Except as set forth on Schedule 3.16:

  • Title to and Condition of Properties Except as would not have a Material Adverse Effect, each Acquiror Company owns (with good and marketable title in the case of real property) or holds under valid leases or other rights to use all real property, plants, machinery, equipment and other personal property necessary for the conduct of its business as presently conducted, free and clear of all Liens, except Permitted Liens. The material buildings, plants, machinery and equipment necessary for the conduct of the business of each Acquiror Company as presently conducted are structurally sound, are in good operating condition and repair and are adequate for the uses to which they are being put, and none of such buildings, plants, machinery or equipment is in need of maintenance or repairs, except for ordinary, routine maintenance and repairs that are not material in nature or cost.

  • Conditions to Xxxxx’x Obligations The obligations of Xxxxx hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Xxxxx of a due diligence review satisfactory to Xxxxx in its reasonable judgment, and to the continuing satisfaction (or waiver by Xxxxx in its sole discretion) of the following additional conditions:

  • COMPLIANCE WITH COVENANTS, RESTRICTIONS AND BUILDING CODE Lessor warrants that any improvements (other than those constructed by Lessee or at Lessee's direction) on or in the Premises which have been constructed or installed by Lessor or with Lessor's consent or at Lessor's direction shall comply with all applicable covenants or restrictions of record and applicable building codes, regulations and ordinances in effect on the Commencement Date. Lessor further warrants to Lessee that Lessor has no knowledge of any claim having been made by any governmental agency that a violation or violations of applicable building codes, regulations, or ordinances exist with regard to the Premises as of the Commencement Date. Said warranties shall not apply to any Alterations or Utility Installations (defined in Paragraph 7.3(a)) made or to be made by Lessee. If the Premises do not comply with said warranties, Lessor shall, except as otherwise provided in this Lease, promptly after receipt of written notice from Lessee given within six (6) months following the Commencement Date and setting forth with specificity the nature and extent of such non-compliance, take such action, at Lessor's expense, as may be reasonable or appropriate to rectify the non-compliance. Lessor makes no warranty that the Permitted Use in Paragraph 1.8 is permitted for the Premises under Applicable Laws (as defined in Paragraph 2.4).

  • Installation and Conversion State Street and the Fund shall be responsible for the technical installation and conversion (“Installation and Conversion”) of the Designated Configuration. The Fund shall have the following responsibilities in connection with Installation and Conversion of the System:

  • Compliance with Agreements and Conditions Buyer shall have performed and complied with all material agreements and conditions required by this Agreement to be performed or complied with by Buyer prior to or on the Closing Date.

  • Conditions to Each Party’s Obligation to Effect the Exchange The obligation of each party to effect the Exchange and otherwise consummate the transactions contemplated by this Agreement is subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

  • Restrictions and Conditions (a) Any book entries for the shares of Restricted Stock granted herein shall bear an appropriate legend, as determined by the Administrator in its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan.

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