New Entity definition
Examples of New Entity in a sentence
If the alternative procedures for New Entity Accounts opened on or after July 1, 2014, and before January 1, 2015, described in paragraph H of this section are applied with respect to all New Entity Accounts or a clearly identified group of such accounts, the alternative procedures described in this paragraph G may not be applied with respect to such New Entity Accounts.
The liability of the Owner or a New Entity is in all cases limited to their interest in the Site or subdivided portion thereof, at the time such liability is incurred, and shall not extend to any other portion of the Site for which another party is the Owner and has assumed responsibility pursuant to Section 6.3 hereof, as applicable.
In the event that all or any portion of the Site is subjected to a condominium regime or a long-term ground lease, the condominium association or the ground lessee, as applicable, shall be deemed an Owner or New Entity of the affected portion of the Site.
The obligations of the Owner or any New Entity do not constitute personal obligations of their members, trustees, partners, directors, officers or shareholders, or any direct or indirect constituent entity or any of their affiliates or agents.
Termination of this Agreement shall in no way limit NEOGOV from soliciting, entering into, or continuing a contractual relationship with any New Entity.