Relative Part definition
Relative Part means: the relative part of the Bonds that the Holder held on the relevant Effective Date (as stated in Section 23.7 of the Deed) of the total amount of the Bonds in circulation at the time. It is clarified that the calculation of the relative part shall be fixed even if there is a change in the par value of the Bonds held by the Holder after the said date. The aforesaid shall not prevent from the Holder, to the extent that this is necessary under the circumstances of the case, to deposit an amount to cover the Indemnity Undertaking beyond his relative part and in such circumstances as aforesaid the amount shall be paid in accordance with the priority set forth in Section 10 of the Deed.
Examples of Relative Part in a sentence
The relative part of the Buyer in the common property shall not be greater than the ratio of the floor of the Property compared to all floors in the Building and/or the Project, and subject to any other statement made in the condominium bylaws (hereinafter: the "Relative Part in the Common Property") and the Buyer shall not raise any claim in connection therewith.
The Relative Part in the Common Property shall be attached to the Property and/or shall be registered in any other legal manner.