Undivided Interests Sample Clauses

Undivided Interests. The ownership of each Condominium in the Project shall include a Unit and a fifty percent (50%) undivided interest in the Common Area. The Common Interest appurtenant to each Unit is declared to be permanent in character and cannot be altered without the consent of the Owners of both of the Units. Such Common Interest cannot be separated from the Unit to which it is appurtenant. Each Owner of a Unit may use the Common Area in accordance with the purposes for which it is intended, in accordance with this Declaration and the Rules, without hindering the exercise of or encroaching upon the rights of the other Owner.
Undivided Interests. If the interest claimed by Owner in any part of the lands described in Exhibit A is less than 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. The royalty provided for in the paragraph entitled “Royalty” shall be reduced so as to be proportional to the interest set forth in Exhibit A with respect to each part of the Property. If Owner owns or hereafter acquires an interest in any part of the lands described in Exhibit A greater than that set forth in Exhibit A, such interest shall be deemed a part of the Property, Exhibit A shall be deemed amended to include such interest, and the royalty payable under this Agreement with respect to that portion of the Property shall be increased proportionally.
Undivided Interests. 1. The Member Entities acknowledge and agree that the Member Entities are the beneficial owners of all real and personal property, rights of way, permits, and easements used in the joint and cooperative undertaking and that Central Valley shall hold legal title to said real and personal property, rights of way, permits, and easements in trust for and in behalf of the Member Entities in conformance with the terms of this Agreement. The beneficial ownership percentages of the Member Entities in the first phase of the treatment works were the adjusted ownership percentages stated in section II. J. Figure 3.
Undivided Interests. Upon the request of the owners of a majority Indian interest in land in which any undivided interest is held under a trust or other patent containing restrictions on alienations, the Sec- retary of the Interior is authorized to sell all undivided Indian trust or restricted interests in any part of the timber on such land.
Undivided Interests. Pursuant to the Lease Assignment, the Right of Way Assignment, the Operator Assignment and the Asset Transfer Documents (collectively, the "Conveyance Documents"), the Project Partnerships' fractional undivided interests (each an "Interest") in the Right of Way Grants as of the Effective Date, and in the Leases and the Pre-Existing Assets as of the date the assignment, transfer and conveyance of the same to the Project Partnerships is completed (the "Transfer Completion Date"), is and/or will be as follows: Project Partnership: Interest: ----------- -------- CED 33-1/3; CPD 33-1/3; and
Undivided Interests. If Owner owns or hereafter acquires an interest in any part of the Premises greater than that set forth in this Agreement, such interest shall be deemed a part of the Premises and the description of the Premises shall be deemed amended to include such interest.

Related to Undivided Interests

  • Percentage Interests If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease. If the Partners’ Percentage Interests are adjusted pursuant to this Section 4.5, the Profits and Losses for the taxable year in which the adjustment occurs shall be allocated between the part of the year ending on the day when the Partnership’s property is revalued by the General Partner and the part of the year beginning on the following day either (i) as if the taxable year had ended on the date of the adjustment or (ii) based on the number of days in each part. The General Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate Profits and Losses for the taxable year in which the adjustment occurs. The allocation of Profits and Losses for the earlier part of the year shall be based on the Percentage Interests before adjustment, and the allocation of Profits and Losses for the later part shall be based on the adjusted Percentage Interests.

  • Participating Interests Effective in the case of each Letter of Credit opened by the Issuing Lender as of the date of the opening thereof, the Issuing Lender agrees to allot and does allot, to itself and each other Revolving Credit Lender, and each Revolving Credit Lender severally and irrevocably agrees to take and does take in such Letter of Credit and the related L/C Application, an L/C Participating Interest in a percentage equal to such Revolving Credit Lender’s Revolving Credit Commitment Percentage. In consideration and in furtherance of the foregoing, each such Revolving Credit Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent in Dollars, for the account of the applicable Issuing Lender, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of each L/C Disbursement made by such Issuing Lender, in each case to the extent not reimbursed by the Company on the date due as provided in Section 2.6, or of any reimbursement payment required to be refunded to the Company for any reason.

  • No Ownership Interest Nothing contained in this Agreement shall be deemed to vest in Parent or Merger Sub any direct or indirect ownership or incidence of ownership of or with respect to any Shares. All rights, ownership and economic benefits of and relating to the Shares shall remain vested in and belong to Stockholder, and Parent and Merger Sub shall have no authority to manage, direct, superintend, restrict, regulate, govern, or administer any of the policies or operations of the Company or exercise any power or authority to direct Stockholder in the voting of any of the Shares, except as otherwise provided herein.

  • Membership Interests The Sole Member currently owns one hundred percent (100%) of the percentage interests in the Company.