Purchased Common Properties definition

Purchased Common Properties means and refer to those tracts of land with any improvements thereon acquired by the Association and maintained and administered not through general assessments provided for in Article V, Section 3 hereof, but through special assessments and user fees only.
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Purchased Common Properties means and refer to those tracts of land with any improvements thereon acquired by the Association, and designated in the deed therefor as "Purchased Common Properties”. Purchased Common Properties are to be devoted to and intended for the common use and enjoyment of Type A Members of the Association.
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Purchased Common Properties means and refer to those Common Properties which the Members of the Association choose to purchase by Mail Referendum.
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Examples of Purchased Common Properties in a sentence

  • The Property Owner shall at its expense develop and provide roads and other related infrastructure, and, as to Real Property on Kiawah Island, pursuant to and at such times required by the KICA Covenants, transfer same to the KICA if they are intended to be KICA Common Properties or Purchased Common Properties or Restricted Common Properties.

  • The right of the Company or the Association by its Board of Directors to dedicate or transfer to any public or private utility, utility or drainage easements on any part of the Common Properties, Restricted Common Properties, and Purchased Common Properties.

  • The obligation to make payments of principal and interest in accordance with their due dates on all mortgages affecting property conveyed to the Association except mortgages on Purchased Common Properties (as described hereinbelow in Section 4 of this Article IV) shall continue to be the sole obligation of the Company or any Affiliate, Successor or Assign of the Company as the case may be.

  • The Association shall be authorized to maintain Purchased Common Properties from receipts of Annual Assessments or Special Assessments.

  • The Annual Assessments levied by the Association shall be used exclusively for the improvement, maintenance, enhancement, enlargement, and operation of the Common Properties and Restricted Common Properties, and Purchased Common Properties, and to provide services which the Association is authorized to provide.

  • Subject to the provisions of these covenants, the rules and regulations of the Association, and any charges established by the Association, every Type A Member shall have a right and easement of enjoyment in and to any property now or hereafter designated "Purchased Common Properties" pursuant to this Declaration.

  • The Company shall have the right to convey title to the Common Properties, Restricted Common Properties, and Purchased Common Properties and to assign its rights and duties hereunder, provided that the transferee accepts such properties subject to the limitations and uses imposed hereby and affirmatively acknowledges its acceptance of the duties imposed hereby.

  • The right of the Association to charge reasonable admission and other fees for the use of the Common Properties, Restricted Common Properties and Purchased Common Properties, and any facilities included therein, including the right of the Association, to charge a reasonable toll for the use of any roadways belonging to the Association, provided, however, that such rights of the Association shall not be construed to impair or qualify an Owner's rights of ingress and egress to his property.

  • Neither the Company nor the Trustee shall have the obligations to provide for operation, maintenance, repair, and up-keep of the Common Properties, Restricted Common Properties, or Purchased Common Properties, once the funds provided by the Annual Assessment have been exhausted.

  • Once conveyed to the Association, these properties shall become Common Properties, Restricted Common Properties, or Purchased Common Properties, as the case may be.


More Definitions of Purchased Common Properties

Purchased Common Properties means and refer to those tracts of land with any improvements thereon containing a regulation length 18-hole golf course and/or an executive length 18-hole golf course and associated clubhouse, pool and tennis facilities, acquired by the Association to be operated as a membership recreational facility with membership criteria to be selected and determined by mutual agreement between the Association's Board and the Company or other owner of such facilities and user costs and operating rules for such facilities to be determined by the Board of Directors of the Association.
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Related to Purchased Common Properties

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 2 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Subject Assets is defined in Section 2.2(c).

  • Transferred Real Property shall have the meaning set forth in Section 1.2(a)(vii).

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned or leased by such Person, including without limitation cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Real Property Interests means all interests in Owned Real Property and Leased Real Property, including fee estates, leaseholds and subleaseholds, purchase options, easements, licenses, rights to access, and rights of way, and all buildings and other improvements thereon and appurtenant thereto, owned or held by Sellers that are used in the business or operations of the Stations, together with any additions, substitutions and replacements thereof and thereto between the date of this Agreement and the Closing Date, but excluding the Excluded Real Property Interests.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Transferred Assets has the meaning set forth in Section 2.1.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Timberlands means all the timberlands from time to time owned by the Loan Parties.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Transition Property means the property right created by a financing order, including without

  • Owned Properties has the meaning set forth in Section 3.16.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II, hereof.

  • Additional Purchased Assets shall have the meaning set forth in Subsection 3(a).

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and related real estate activities, including the provision of mortgage financing or title insurance.

  • Purchased Contracts has the meaning set forth in Section 2.1.1(a).

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Hotel Property for any hotel means the Real Property and the Personal Property for such hotel.