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Undivided Interest
Sample Clauses
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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.
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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.
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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
.
Sample 1
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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.
Sample 1
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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.
Sample 1
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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.
Sample 1
Sample 2
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Undivided Interest
. (a)
Definition
Sample 1
Sample 2
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Undivided Interest
. 34
Transaction
.................................................................... 31
Uniform Commercial Code
........................................... 34
Sample 1
Sample 2
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Undivided Interest
. 5.1 At such
time
as the Oil
Mining Lease
relating to
OPL
237 is
issued by
the Government
,
Owner
/
Operator shall
convey
to
Liberty
a 10% undivided interest in the Oil Mining Lease, but only
with respect to
the
Deep
Zones
.
Sample 1
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Undivided Interest
. The
interest in the Property
claimed
by each Owner
is
set forth
in
Exhibit
A. Any representation or
warranty of title
made by
any Owner
shall apply only to the interest set forth in Exhibit A.
Sample 1
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