Common use of Assignment of Common Areas and Facilities Clause in Contracts

Assignment of Common Areas and Facilities. Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration as trustee for all Owners the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities subject to and with the benefit of the Government Lease and this Deed. The Manager shall hold the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities on trust for the benefit of all Owners. In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners.

Assignment of Common Areas and Facilities. Upon execution of this Deed, the First Owner Owners shall assign to and vested vest in the Manager free of costs or consideration as trustee for all Owners the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities subject to and with the benefit of the Government Lease and this Deed. The Manager shall hold the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities on trust for the benefit of all Owners. In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners.

Assignment of Common Areas and Facilities. Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration as trustee for all Owners the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease Grant and this Deed. The Manager shall hold the Such Undivided Shares allocated together with the right to hold, use, occupy and enjoy the Common Areas and Facilities together with shall be held by the Common Areas and Facilities on trust Manager as trustee for the benefit of all Owners. In the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving bankruptcy order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ ' Corporation is formed under the Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to the Common Areas and Facilities together with in respect of the Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ ' Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners.

Assignment of Common Areas and Facilities. Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration as trustee for all Owners the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease Conditions and this Deed. The Manager shall hold the Such Undivided Shares allocated together with the right to hold, use, occupy and enjoy the Common Areas and Facilities together with shall be held by the Common Areas and Facilities on trust Manager as trustee for the benefit of all Owners. In the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presentsthis Deed, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration at any time and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to in respect of the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners.

Assignment of Common Areas and Facilities. (i) Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration as trustee for all Owners the whole of the Undivided Shares allocated to the Phase 1 Common Areas and Facilities together with the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease Conditions and this Deed. The Manager shall hold the Such Undivided Shares allocated together with the right to hold, use, occupy and enjoy the Phase 1 Common Areas and Facilities together with shall be held by the Common Areas and Facilities on trust Manager as trustee for the benefit of all Owners. In the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to in respect of the Phase 1 Common Areas and Facilities together with the Phase 1 Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners. (ii) Upon issue of the Consent to Assign in respect of the Subsequent Phase(s) or Certificate of Compliance of the Lot, whichever is the earlier, and execution of the Sub-Deed in respect of the Subsequent Phase(s), the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities in the Subsequent Phase(s) under the Sub-Deed subject to and with the benefit of the Conditions, this Deed and the Sub-Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities in the Subsequent Phase(s) shall be held by the Manager as trustee for the benefit all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with this Deed and the Sub-Deed, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares in respect of the Common Areas and Facilities in the Subsequent Phase(s) together with the Common Areas and Facilities in the Subsequent Phase(s) and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Assignment of Common Areas and Facilities. (i) Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration as trustee for all Owners the whole of the Undivided Shares allocated to the Phase 1 Common Areas and Facilities together with the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease Conditions and this Deed. The Manager shall hold the Such Undivided Shares allocated together with the right to hold, use, occupy and enjoy the Phase 1 Common Areas and Facilities together with shall be held by the Common Areas and Facilities on trust Manager as trustee for the benefit of all Owners. In the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to in respect of the Phase 1 Common Areas and Facilities together with the Phase 1 Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners. (ii) Upon completion of the Subsequent Phase(s) (as evidenced by the issue of the Consent to Assign or Certificate of Compliance (as the case may be) by the Director of Lands), the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities within the Subsequent Phase(s) which they represent subject to and with the benefit of the Conditions, this Deed and any Sub-Deed(s). Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities within the Subsequent Phase(s) shall be held by the Manager as trustee for the benefit all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs or consideration the Undivided Shares in respect of the Common Areas and Facilities together with the Common Areas and Facilities within the Subsequent Phase(s) and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Assignment of Common Areas and Facilities. Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration as trustee for all Owners the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease Conditions and this Deed. The Manager shall hold the Such Undivided Shares allocated together with the right to hold, use, occupy and enjoy the Common Areas and Facilities together with shall be held by the Common Areas and Facilities on trust Manager as trustee for the benefit of all Owners. In the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration at any time and in which event the Manager shall assign free of costs or consideration the Undivided Shares allocated to in respect of the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs or consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares and the Common Areas and Facilities on trust for the benefit of all the Owners.