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. If the interest claimed by Owner in any portion of the Property is less than one hundred percent (100%), the interest claimed by Owner is set forth in Exhibit A. Any representation or warranty of title made by Owner shall apply only to the interest set forth in Exhibit A.
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.
Undivided Interest. The undertakings of the Company contained in Sections 502, 503, 504 and 505 are limited to those consistent with the Company's undivided percentage interest in the facilities of which the Project Facilities are a part.
Undivided Interest. 5 2.02. Frequency of Computation of Undivided Interest........... 6 2.03.
Undivided Interest. The Unit Owners in Phase 1 shall have an Undivided Interest in the Common Areas and Facilities in the percentages as specified in Schedule C, for so long as the only Units in the Condominium are the Phase 1 Units. From and after the addition to the Condominium of any subsequent Phase or Sub- Phase containing additional Units (the “Additional Units”) pursuant to the provisions of this Master Deed, the Beneficial Interest to which the Phase 1 Units (and Units added by way of previously recorded Phasing Amendments) is entitled shall be reduced accordingly and the Beneficial Interest to which the Phase 1 Units and all additional Units subsequently included herein shall be determined upon the basis of the approximate relation that the fair value of each Unit bears to the aggregate fair value of all Units. The percentage figures so determined shall be rounded by the Declarant to the least extent, if any, necessary as determined by Declarant in its sole discretion, to obtain a 100.00 percent total for all Units. The Beneficial Interest so determined shall be set forth in the Amendment to the Master Deed by which the additional Unit or Units resulting in such change of Beneficial Interest is added to the Condominium. Each Unit Owner and mortgagee, by acceptance of a Unit Deed or mortgage, shall be deemed to have consented to the foregoing changes in percentage interests and to the rights reserved to the Declarant under this Master Deed and in the Declaration of Condominium Trust. Solely for purposes of calculating common and special assessments, said charges may be rounded to the nearest dollar but calculated using said percentage interest. Each Unit Owner may use the common areas and facilities in accordance with their intended purposes without being deemed thereby to be hindering or encroaching upon the lawful rights of the other unit owners, as provided in Section 5(d) of Chapter 183A. In addition to all provisions of Section 5(d) of Chapter 183A, the use of said common areas and facilities shall be subject to the terms and provisions of this Master Deed, the Declaration of Trust, the By-Laws and the Rules and Regulations, including the provisions herein relating to Exclusive Use Areas.
Undivided Interest. The Head Lessor hereby leases a 37.5% undivided interest in the Production System (the "Undivided Interest") to the Head Lessee, and the Head Lessee hereby leases the Undivided Interest from the Head Lessor. The Head Lessor and the Head Lessee understand and acknowledge that legal title to the Undivided Interest remains vested in the Head Lessor. This Head Lease has been entered into with the intention that the Head Lessee will be treated as owner of the Undivided Interest for federal income tax purposes.
Undivided Interest. The Owner of each Unit shall have an Undivided Interest in the Common Areas and Facilities in the percentages as specified in Schedule D: P = V SV [V= (A) x (F)]