Unqualified Owners Sample Clauses

Unqualified Owners. An Owner who is unqualified for any reason at the time he becomes an Owner (including without limitation, any Mortgagee, or Foreclosure Sale Purchaser [as defined herein]), shall within four months of the transfer of title to such unqualified Owner:
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Unqualified Owners. An Owner who is unqualified for any reason at the time he becomes an Owner (including without limitation, any Mortgagee, or Foreclosure Sale Purchaser [as defined herein]), shall within four months of the transfer of title to such unqualified Owner: (i) provide to Declarant and the Association proof reasonably satisfactory to them that the unqualified Owner is or has become a qualified Owner under this Article XIII, or (ii) sell the Condominium pursuant to the procedures and requirements of Section (1)(a) or 1(b) of Article XIV. If an unqualified Owner shall fail within the Escrow No. Order No. time allowed to follow any one of the foregoing procedures, then Association or Declarant shall give to such unqualified Owner notice of such failure to comply, whereupon such unqualified Owner shall be deemed to have made an irrevocable Offer to sell his Condominium to Declarant and/or Association pursuant to the provisions of Section 1(b) of Article XIV. However, the making of such Offer or the giving of any notice hereinabove described shall not be a prerequisite to the enforcement of the provisions of this Article by any person, the Association, or Declarant. Declarant may, in its discretion, temporarily waive the lack of qualified status of any Owner and such unqualified Owner may continue to own, possess, occupy and/or use the Condominium, but only until Declarant notifies such unqualified Owner in writing that Declarant's temporary waiver has been revoked, in which event the preceding provisions of this Section 3 of Article XIII shall immediately apply. It is the intent of this Section 3 of Article XIII to prohibit ownership, possession, or occupancy of any Condominium by an unqualified person or entity and, to the extent an unqualified person or entity becomes an Owner of a Condominium (regardless of the means or procedure by which such unqualified Owner acquired title to the Condominium), to require that such Owner promptly sell the Condominium to a qualified person, Association or Declarant according to the provisions and procedures set forth in Articles XIII and XIV within the time parameters set forth in this Section 3 of Article XIII.
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Related to Unqualified Owners

  • Settlement Statement A settlement statement setting forth the amounts paid by or on behalf of and/or credited to each of Purchaser and Seller pursuant to this Agreement;

  • Release of Escrow Securities to Depositary The Escrow Agent will release from escrow the tendered escrow securities when the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that:

  • DIRECTORS’ STATEMENT After having considered all aspects of the Agreement, the Board is of the opinion that the Agreement is in the best interests of the Company.

  • Exchange Administrator The entity selected by Freddie Mac to act as its exchange administrator for the Exchangeable Notes and the MAC Notes, which as of the Closing Date is U.S. Bank.

  • Information to Certificateholders As soon as practicable following the eleventh calendar day of each month, Xxxxxx Xxx will make available the Class Factor (carried to eight decimal places) for each Class of Certificates after giving effect to the distribution on the following Distribution Date. Xxxxxx Mae will also furnish to each Person who was a Certificateholder at any time during a calendar year such statements and information as shall be required to be furnished by the Code.

  • Persons Deemed Owners of the Residual Certificates Prior to due presentation of a Residual Certificate for registration of transfer, Xxxxxx Xxx, the Trustee, the Certificate Registrar and any agent of Xxxxxx Mae or the Trustee may treat the Person in whose name the Residual Certificate is registered as the owner of the Residual Certificate for the purpose of receiving distributions, if any, pursuant hereto and for all other purposes whatsoever, and neither Xxxxxx Xxx nor the Trustee, the Certificate Registrar or any agent of Xxxxxx Mae or the Trustee shall be affected by notice to the contrary.

  • Instructions for Certification – First Tier Participants a. By signing and submitting this proposal, the prospective first tier participant is providing the certification set out below.

  • Settlement Administrator 52. The Settlement Administrator shall administer various aspects of the Settlement as described in the next Paragraph and perform such other functions as are specified for the Settlement Administrator elsewhere in this Agreement, including, but not limited to, providing Mail Notice to Settlement Class Members as described in Section VII; effecting Publication Notice; establishing and operating the Settlement Website and a toll-free number; administering the Claims processes; and distributing cash payments according to the processes and criteria set forth in Section X and Exhibits 5, 6, and 7.

  • Administrator’s Declaration Not later than 14 days before the date by which Plaintiff is required to file the Motion for Final Approval of the Settlement, the Administrator will provide to Class Counsel and Defense Counsel, a signed declaration suitable for filing in Court attesting to its due diligence and compliance with all of its obligations under this Agreement, including, but not limited to, its mailing of Class Notice, the Class Notices returned as undelivered, the re-mailing of Class Notices, attempts to locate Class Members, the total number of Requests for Exclusion from Settlement it received (both valid or invalid), the number of written objections and attach the Exclusion List. The Administrator will supplement its declaration as needed or requested by the Parties and/or the Court. Class Counsel is responsible for filing the Administrator’s declaration(s) in Court.

  • Physician's Statement Employees requesting Temporary Disability Leave shall submit to the Chief, through the chain of command, a written statement from their physician verifying their condition, recommending limited duty or leave of absence, and describing their limitations and prognosis. The Chief may refer employees for additional evaluation of their condition. A written medical release from a physician shall be submitted prior to an employee's return to full or limited duty.

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