KNC definition
Examples of KNC in a sentence
Subject to Summit County and KNC rules and regulations and space availability, the Project Documents will provide that Purchaser may leave a vehicle in residence when Purchaser is not physically on the Resort premises so long as Purchaser leaves the keys to the vehicle with the valet.
Purchaser acknowledges that Purchaser has not relied upon, nor was its execution of this Agreement induced by, any representations by Seller or any Seller Party regarding any direct or indirect interest of, or past, present or future involvement of, any other person or entity in the Resort, the Project, the Residence Association, the Resort Association or the KNC including without limitation Seller or any affiliate of Seller.
The Resort lies within the master planned community known as River Run Village governed by the Keystone Neighbourhood Company ("KNC") as further described in the KNC Declaration of Covenants, Conditions and Restrictions for Neighbourhoods at Keystone recorded December 1, 1995 under Reception No. 504399 in the Records (as amended and supplemented from time to time, the "KNC Declaration").
Upon the terms and subject to the conditions of this Agreement and in exchange for the consideration set forth in Section 2.2 below, on the date hereof Buyer shall purchase and accept from Seller, and Seller shall sell, transfer, assign, convey, endorse and deliver to Buyer all of Seller's right, title and interests in the KNC Shares and the Raba-Com Shares, free and clear of all Liens.
The estimated homeowner’s assessments for the Unit payable to the Residence Association, the Resort Association, and KNC will be included in the Project Document package provided to Purchasers.
Buyer and Seller shall cause the Deed of Foundation or Articles of Association of each of KNC and Raba-Com to be amended so that there are no resolutions which require the unanimous approval of the Board of Directors or Supervisory Board of such companies.
All payments under this Agreement shall be made in United States dollars by transfer to such bank account as KNC may designate from time to time.
Purchaser agrees to pay the two percent (2.0%) real estate transfer assessment due the KNC on the conveyance of the Unit.
The designee(s) of Seller shall maintain their current seat on the Board of Directors and the Supervisory Board of each of KNC and Raba-Com for the remainder of the 1997-1998 term.
Seller is the record and beneficial owner of the KNC Shares and the Raba-Com Shares which comprise 20.0% of all of the outstanding capital stock of each of KNC and Raba-Com, on a fully diluted basis.