Unit Documents Clause Samples
The 'Unit Documents' clause defines the set of documents that govern the rights, obligations, and interests associated with a particular unit in a property or development. Typically, this includes documents such as the declaration, bylaws, rules, and any amendments or supplements that pertain to the unit. By clearly identifying which documents are authoritative, the clause ensures that all parties understand the legal framework governing the unit, thereby reducing confusion and potential disputes over which rules apply.
Unit Documents. If Purchaser elects to pay part of the Purchase Price by transfer of Units, the Limited Partner Admission Agreement and the Redemption Rights Agreement.
Unit Documents. If Purchaser elects to pay part of the Purchase Price by transfer of Units:
(i) The Limited Partner Admission Agreement in the form of Exhibit “G” (“Limited Partner Admission Agreement”), admitting Seller as a limited partner of Purchaser;
(ii) The Redemption Rights Agreement in the form of Exhibit “H” (the “Redemption Rights Agreement”), granting the right to Seller to have Purchaser redeem its Units exercisable one (1) year after the Closing.