Undivided Interest. The Allottee together with all other Allottees of Units in the Project shall have only proportionate undivided variable and impartible interest and not any individual right in all common areas, amenities and facilities built or provided in the Project.
Undivided Interest. Upon the terms and subject to the conditions of this Lease, the Lessor agrees to lease and upon delivery of Lease Supplement No. 1 leases the Undivided Interest to the Lessee, and the Lessee agrees to lease and upon acceptance of Lease Supplement No. 1 leases the Undivided Interest from the Lessor, for the Interim Lease Term, the Basic Lease Term and, subject to the exercise by the Lessee or the Lessor of the renewal option or options as provided in Section 5, the Renewal Term or Renewal Terms.
Undivided Interest. (a) Definition and Computation of Undivided Interest. For purposes of this Agreement, "Undivided Interest" means, as the context may require (i) an undivided ownership interest, in a percentage determined from time to time as provided in clause (ii) below, in (a) all then outstanding Pool Receivables, (b) all Related Security with respect to such Pool Receivables, (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security and (d) all books and records (including, without limitation, computer disks) related to the foregoing (collectively, the "Pool"), and (ii) at any time, the quotient, expressed as a percentage, obtained by dividing the Required Allocation for such Undivided Interest by the Net Pool Balance. Each Undivided Interest shall be computed as follows: UI=RA = PI + DF + CR + SFR + DR NPB NPB where: UI=the Undivided Interest at any time; RA=the Required Allocations of such Undivided Interest at such time, as determined pursuant to Section 2.02; and NPB=the Net Pool Balance at such time, as determined pursuant to Section 2.04.
Undivided Interest. For purposes of this Agreement, "Undivided Interest" means, at any time, an undivided percentage ownership interest at such time in (i) all then outstanding Pool Receivables, (ii) all Related Security with respect to such Pool Receivables, and (iii) all Collections with respect to, and other proceeds of, such Pool Receivables. Such undivided percentage interest for any time for such Undivided Interest shall be computed as: PA = PI + LR --- -------- NPB NPB where: PA = Participation Amount of such Undivided Interest = PI + LR; PI = the Dollar Amount of the Purchasers' Investments as to such Undivided Interest at the time of such computation, as determined per Section 2.03; LR = the Loss Reserve as to such Undivided Interest, if any, at the time of such computation, as determined per Section 2.04; and NPB = the Net Pool Balance at the time of such computation, as determined per Section 2.07. The "related" Undivided Interest with respect to any of the foregoing items shall mean the Undivided Interest as to which such item is calculated. The then sum of all Participation Amounts of all Undivided Interests shall constitute "Aggregate Participation Amounts". Each Purchaser shall be entitled to its Percentage of each Undivided Interest, and any reference to a Purchaser's Undivided Interest shall refer to such Percentage thereof.