Approving Agent definition

Approving Agent. The term "Approving Agent" shall mean, in the following order or precedence:

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Approving Agent means, in the following order or precedence:

Approving Agent. The term “Approving Agent” shall mean, in the following order or precedence: A. THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation, whose present address is 1▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ Drive, Building A, Suite 101, Sunnyvale, California 94086 (hereinafter referred to as “Prudential”), shall be the Approving Agent until Prudential shall have resigned as Approving Agent by executing a written resignation and causing an original of same to be recorded, and by giving written notice of such resignation to each Owner of record, as shown on the most recent county assessor’s roll, of real property then subject to this Declaration. B. Any association (whether or not incorporated) organized by the Owners of sixty-six and two-thirds percent (66-2/3%) of the land area (exclusive of portions dedicated to a public agency or authority for a public use) then subject to this Declaration for the purpose of acting as and assuming the functions of an Approving Agent, in which membership is available to all Owners and decisions are made on the basis of majority vote with one vote assigned for each square foot of land owned by each Owner, but only if the Owners organizing such association within not less than six (6) months from the date that Prudential shall have ceased to be the Approving Agent, shall have (i) organized such association and (ii) executed and recorded a statement in the form of an amendment to this Declaration as described in Paragraph 8.2 setting forth that such organization has been formed for the purpose of acting as Approving Agent pursuant to this Declaration and (iii) shall have, given written notice to all Owners of record of real property then subject to this Declaration that such association has been formed.

Examples of Approving Agent in a sentence

Such presumption shall not apply if the review fee required by Paragraph 3.9 was not paid at the time the plans were first submitted to the Approving Agent.
If Applicant fails to commence construction of the structures within one (1) year from date of such approval, then the approval given pursuant to this Article shall be deemed revoked unless the Approving Agent upon request made prior to the expiration of said one (1) year period extends in writing the time for commencing work.
Neither the Declarant nor the Approving Agent shall be liable to any Owner, lessee, licensee, or occupant of land subject to this Declaration by reason of any mistake in judgment, negligence, nonfeasance, action or inaction or for the enforcement or failure to enforce any provision of this Declaration.
Any other matter which, in the judgment of the Approving Agent, would render the proposed structure or structures or use inharmonious with the general plan for improvement of the Oak Creek Business Park or with structures or landscaping then located upon or proposed to be located upon other lots or other properties within the Oak Creek Business Park.
In the event that the Approving Agent shall fail to take action respecting the breach or violation of any of the provisions of this Declaration within thirty (30) days from the written demand by any Owner within the Oak Creek Business Park to take such action or if such breach or violation of this Declaration shall occur at such time as there is no Approving Agent, then any Owner of a lot within the Oak Creek Business Park shall have the right to enforce the provisions contained in this Declaration.
Failure by the Approving Agent to enforce the provisions of this Declaration shall in no event be deemed a waiver of the right to do so thereafter, nor of the right to enforce any other covenants or restrictions herein, nor of the rights of other Owners of the property within the Oak Creek Business Park to enforce same.
In no event shall the Approving Agent disapprove any plans and specifications solely by reason of the Applicant’s proposed use of the lot if such use is specifically permitted pursuant to Section 5.1.
Every Owner, lessee, licensee or occupant of any of said property by acquiring his interest therein agrees that he will not bring any action or suit against Prudential or any other Approving Agent to recover any such damages from or to seek equitable relief against the Declarant by reason of same.
So long as there shall be Approving Agent then serving, it shall have the exclusive right to grant variances from requirements set forth in Article 4 or waive entirely the restrictions set forth in said Article 4 with respect to any given lot, as the Approving Agent, in its sole discretion, shall determine is for the successful development of the Oak Creek Business Park.
So long as there is an Approving Agent it shall have the exclusive right to enforce the provisions hereof, without liability for failure so to do, except that each owner of record of land in the Restricted Area shall have the right to enforce the provisions hereof then applicable to any Site if the Approving Agent shall fail so to do within thirty (30) days after written request from any such owner.

More Definitions of Approving Agent

Approving Agent means 877103 B.C. Ltd.

Approving Agent means, in the following order of precedence: (a) Company, so long as it owns of record any land in the Restricted Area; or thereafter (b) Any corporation, association or trust controlled by Company or with which Company has been merged or consolidated or by which Company has been acquired, all as certified of record by Company (hereinafter called Company's Successor) so long as it owns of record any land in the Restricted Area and provided it has been granted of record by Company the exclusive right to approve plans and grant variances as hereinafter set forth; or thereafter (c) Any association (whether or not incorporated) organized by a majority of the owners of record of land in the Restricted Area for the purpose, among others, of approving plans and granting variances as hereinafter provided, in which membership is available to all such owners without charge, provided Company or Company's Successor has granted to it of record the exclusive right to approve plans and grant variances as hereinafter set forth which Company agrees will be done by it or Company's Successor before Company or Company's Successor ceases to own of record any land in the Restricted Area, if written request therefor is received prior to that time.

Approving Agent substantially in the forms attached hereto, and to obtain the other Estoppel Certificates and Certificates of Compliance from third parties substantially in the form attached hereto. It shall be a condition of Buyer's obligation to close that Buyer shall receive Certificate of Compliance from each of the declarants, and executed by the "Approving Agent" where applicable, under the Declarations of Restrictions applicable to all of the Projects (other than Project 751).

Approving Agent means, in the following order of precedence: (a) Cabot, so long as it owns of record any land in the Restricted Area, or thereafter (b) Any corporation, association or trust controlled by Cabot or with which Cabot has been merged or consolidated or by which Cabot has been acquired, all as certified of record by Cabot (herein-after called Cabot's Successor) so long as it owns of record any land in the Restricted Area and provided it has been granted of record by Cabot the exclusive right to approve plans and grant variances as hereinafter set forth, or hereafter (c) Any association (whether or not incorporated ) organized by a majority of the owners of record of land in the Restricted Area for the purpose, amont others, of approving plans and granting variances as hereinafter provided, in which membership is available to all such owners without charge, provided Cabot or Cabot's Successor has granted to it of record the exclusive right to approve plans and grant variances as hereinafter set forth which Cabot agrees will be done by it or Cabot's Successor before Cabot or Cabot's Successor ceases to own of record any land in the Restricted Area, if written request therefor is received prior to that time.

Approving Agent. LEDCO, its successors or designees. (d.) "Property" - the real property described on attached Exhibit A. (e.) "Parcel" or “Parcels" - any tract or tracts of land within the Property. (f.) "Owner" or "Owners” - the record owner or owners of the fee simple title to a Parcel but not a mortgagee unless and until such mortgagee has acquired title to the fee to a Parcel pursuant to foreclosure, deed in lieu of foreclosure or other enforcement proceeding. (g.) "Occupant" or "Occupants" - any party or parties legally entitled to occupy and use any portion of a Parcel or Improvement.

Approving Agent means the Manager, Land Development or any other representative of the City Lands Department designated from time to time by the chief administrator of the City Lands Department;