Agreements Signed Under HRS Section 514B Sample Clauses

Agreements Signed Under HRS Section 514B. 98 of the Condominium Property Act. Hawaii Revised Statutes (“HRS”) Section 514B-98 of the Condominium Property Act requires that for a thirty-day period following the initial date of sale of units in a condominium project, at least 50% of the units being sold shall be offered for sale only to prospective owner-occupants. Seller reserves the right to substitute a unit designated for owner-occupants with another unit within the project, subject to the requirements of the Condominium Property Act. Pursuant to the Condominium Property Act, the Seller will use a public lottery system to determine the order in which prospective owner-occupant purchasers would be given an opportunity to select one of the designated residential units. From the date of the first published announcement until five calendar days after the last published announcement, the Seller’s real estate broker shall compile and maintain a list of all prospective owner-occupant purchasers who have submitted to the Seller or the Seller’s real estate broker a duly executed owner-occupant affidavit. All prospective owner-occupant purchasers on this list shall be included in the public lottery which shall be conducted on the date, time, and location as set forth in the published announcement. The public lottery shall be conducted without regard to the order in which the owner-occupant affidavits were submitted. After the public lottery, each prospective owner-occupant purchaser, in the order in which they are selected in the lottery, shall be given the opportunity to select one of the designated residential units, execute a sales contract, and submit an xxxxxxx money deposit in the amount designated by Seller. Those prospective owner-occupant purchasers selected in the lottery who did not have the opportunity to select one of the designated units but who submitted an xxxxxxx money deposit in the amount designated by the Seller shall be placed on a back-up reservation list in the order in which they were designated in the public lottery. If this Agreement is signed under HRS Section 514B-98 of the Condominium Property Act, Xxxxx shall execute an owner-occupant affidavit. The Buyer’s failure, upon reasonable request of the Seller, to execute the owner-occupant affidavit shall constitute a default by Buyer under this Agreement. If this Agreement is signed under HRS Section 514B-98 of the Condominium Property Act, Buyer will not sell or offer to sell, lease or offer to lease, rent or offer to rent, assig...
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Related to Agreements Signed Under HRS Section 514B

  • Lock-Up Agreements At the date of this Agreement, the Representatives shall have received an agreement substantially in the form of Exhibit C hereto signed by the persons listed on Schedule D hereto.

  • Manner of Conveyance; Limited Warranty; Nonrecourse; Etc THE CONVEYANCE OF ALL ASSETS, INCLUDING REAL AND PERSONAL PROPERTY INTERESTS, PURCHASED BY THE ASSUMING INSTITUTION UNDER THIS AGREEMENT SHALL BE MADE, AS NECESSARY, BY RECEIVER'S DEED OR RECEIVER'S XXXX OF SALE, "AS IS", "WHERE IS", WITHOUT RECOURSE AND, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED IN THIS AGREEMENT, WITHOUT ANY WARRANTIES WHATSOEVER WITH RESPECT TO SUCH ASSETS, EXPRESS OR IMPLIED, WITH RESPECT TO TITLE, ENFORCEABILITY, COLLECTIBILITY, DOCUMENTATION OR FREEDOM FROM LIENS OR ENCUMBRANCES (IN WHOLE OR IN PART), OR ANY OTHER MATTERS.

  • Company Lock Up Agreements The Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Underwriter, it will not, for a period of sixty (60) days after the date of this Agreement (the “Lock-Up Period”), (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; (ii) file or cause to be filed any registration statement with the Commission relating to the offering of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company other than a registration statement on Form S-4 or S-8; (iii) complete any offering of debt securities of the Company, other than entering into a line of credit or senior credit facility with a traditional bank or other lending institution; or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of capital stock of the Company, whether any such transaction described in clause (i), (ii), (iii), or (iv) above is to be settled by delivery of shares of capital stock of the Company or such other securities, in cash or otherwise. The restrictions contained in this Section 3.18 shall not apply to (i) the Public Securities; (ii) the issuance by the Company of shares of Common Stock upon the exercise of a stock option or warrant or the conversion of a security, in each case outstanding on the date hereof, provided that such options, warrants, securities are disclosed in the Registration Statement, the Pricing Disclosure Package or the Prospectus and have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities or to extend the term of such securities, (iii) the issuance of shares of Common Stock issued as part of the purchase price in connection with acquisitions or strategic transactions, or (iv) the issuance by the Company of any shares of Common Stock or standard options to purchase Common Stock to directors, officers or employees of the Company in their capacity as such pursuant to an Approved Stock Plan (as defined below).

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