Condominium Charges Sample Clauses

The Condominium Charges clause defines the obligations of unit owners or tenants to pay their share of common expenses associated with the maintenance and operation of the condominium's shared areas and services. Typically, this clause outlines how these charges are calculated, when they are due, and the consequences of late or non-payment, such as interest or legal action. By clearly allocating financial responsibility for communal costs, the clause ensures the condominium is properly funded and maintained, preventing disputes and financial shortfalls.
Condominium Charges. Assessments and capital assessments, ------------------- including any advance payments made by an Asset Entity but only to the extent the advance payments are attributable to the time period after the date of the Final Closing, under any declaration of condominium to which the Asset is subject (collectively, "Assessments") shall be adjusted and prorated as of the date of the Final Closing.
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Condominium Charges. Common charges and other charges imposed by the Condominium shall be prorated as of the Closing based upon the number of days in the month that the Closing Date occurs.
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Condominium Charges. With respect to the Condominium Documents, (A) the Purchase Price shall be increased by Investor’s Percentage of assessments, common charges or other amounts prepaid by the Partnership Group under the Condominium Documents to the extent such payments relate to periods from and after the Closing Date, and (B) Investor shall be credited for Investor’s Percentage of any assessments, common charges or other amounts under the Condominium Documents which as of Closing are due or accrued and relate to the period prior to Closing.
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Condominium Charges. Purchaser hereby agrees that, notwithstanding anything to the contrary in Section 8.4(b)(viii) of the Purchase Agreement, if Seller and Purchaser proceed to Closing, Seller shall not be responsible for the $656,025 in capital expenditures for the Essex House Condominium as shown on Exhibit A attached to this Amendment (the “Condominium Prorations”), and such Condominium Prorations shall be borne by Purchaser.
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Condominium Charges. [“Common Charges” or “Limited Common Charges”] paid or payable by Owner pursuant to the [Condominium Declaration] on the basis of the current billing period on a per diem basis based upon the number of days in the current billing period prior to the Closing Date (which shall be allocated to Seller) and the number of days in the current billing period on or after the Closing Date (which shall be allocated to Owner).] [if applicable]
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Related to Condominium Charges

  • Condominium Borrower covenants and agrees as follows: (i) Borrower shall pay all common charges and other assessments as required by the Condominium Documents in respect of the Property and shall promptly, following demand, exhibit to Lender proof of all such payments; (ii) Borrower shall not, unless directed otherwise in writing by Lender, without first obtaining Lender's prior written consent, (a) vote for, consent to or permit to occur any modification of, amendment to, or relaxation in the enforcement of, any material provision of the Condominium Documents; provided, however, Lender's approval shall not be required for amendments to the Condominium Documents containing disclosures or other provisions required to be made by Legal Requirements; (b) in the event of damage to or destruction of the Property, vote in opposition to a motion to repair, restore or rebuild, unless the Indebtedness will be repaid in full pursuant to Section 5.16; (c) partition or subdivide any Condominium Unit, or combine any Condominium Unit with another Condominium Unit; (d) consent to the termination of a Condominium; or (e) vote in favor of the imposition of special assessments for capital improvements pursuant to the Condominium Documents. (iii) Borrower shall fully and faithfully observe, keep and perform, in all material respects, each and every material requirement, condition, covenant, agreement and provisions under the Texas Condominium Act and the Condominium Documents on the part of Borrower to be observed, kept and performed. Borrower shall promptly deliver to Lender a copy of any notice of default received by Borrower with respect to any obligation of Borrower under the provisions of the Condominium Documents or the Texas Condominium Act.