UNSOLD SHARES. (a) The term "
UNSOLD SHARES. The term "Unsold Shares" means the shares of the Lessor which were issued to the Lessor's grantor or Sponsor or individuals produced by Sponsor or any of the formers' assignees, as well as purchasers for investment or resale, pursuant to the Offering Statement- Plan of Cooperative Organization and, all shares which are Unsold Shares retain their character as such (regardless of transfer) until such shares become the property of a purchaser or a holder of "Unsold Shares" for bona fide occupancy of the unit to which such shares are allocated. Xxxxxx Gardens Apartments LLC is a holder of Unsold Shares with all rights of a holder of Unsold Shares.
UNSOLD SHARES. 31 Subletting Apartment and Sale of Shares ............ 31 Change in Form of Lease ........................... 32
UNSOLD SHARES. The amendment to the Proprietary Lease substitutes a new Paragraph 38.(a), as follows:
UNSOLD SHARES. The term “Unsold Shares” means the shares of the Corporation which were issued to the Corporation’s grantor or Sponsor or individuals produced by Sponsor pursuant to the Offering Statement- Plan of Cooperative Organization and all shares which are Unsold Shares retain their character as such (regardless of transfer) until such shares become the property of a purchaser or a holder of “Unsold Shares” for bona fide occupancy of the unit to which such shares are allocated.
