Condominium Regime Sample Clauses

Condominium Regime. Tenant confirms that it has been provided with copies of the current Condominium Declaration affecting the Building, such being attached hereto as EXHIBIT B. Subject to the terms of this §19, Tenant shall observe and comply with the Condominium Declaration and any amendments or restatements thereto (upon receipt thereof from Landlord) provided that such do not impose material obligations or costs upon Tenant not already included in this Lease. This Lease, at Landlord’s option, shall be subordinate to the Condominium Declaration regarding maintenance and use of any areas contained in any portion of the Project. Tenant agrees that no documentation other than this Lease shall be required to evidence such subordination. Landlord shall have absolute and complete discretion to provide for such condominium regime on such terms and conditions as it shall determine in its sole discretion; provided in no event shall Landlord take any action with respect to such condominium regime which may reasonably impose material obligations or costs upon Tenant not already included in this Lease or otherwise materially and adversely affect Tenant’s rights under this Lease. Further, Tenant recognizes that under the Condominium Declaration, certain obligations or requirements of performance that might otherwise be the obligation or requirement of the “Landlord” hereunder may, in fact, be the obligation of or are performable by an association created under the Condominium to operate and manage the condominium regime (the “Association”). Without limitation, such obligations might include certain maintenance and repair obligations of the Condominium Common Areas and the obligation to carry insurance and certain restoration obligations in the event of a casualty or condemnation. The existence of the Condominium and/or the delegation of any obligations otherwise performable hereunder by Landlord to any such Association shall not release Landlord, as between Tenant and Landlord, for such obligations, but Tenant agrees that the performance by the Association of such obligations shall satisfy any obligations of Landlord with respect thereto. Tenant confirms that it has been provided with copies of the current Condominium Declaration affecting the Building. Landlord represents and warrants that the Condominium Declaration attached hereto as EXHIBIT B is true, correct and complete and has not been modified.

Condominium Regime. Borrower shall submit all existing or proposed documentation (the “Condominium Documents”) intended or necessary to convert the Project into a multi-unit condominium regime (the “Condominium Regime”) to the Lender for the Lender’s review and approval prior to the Borrower’s submission of the Condominium Documents to any governmental authority required to review and approve the Condominium Documents as a pre-condition to the creation of the Condominium Regime. Once the Lender has approved the Condominium Documents, which approval shall not be unreasonably conditioned, delayed or withheld, the Lender shall consent to and/or execute such Condominium Documents as are required of the Lender, in its capacity as the holder of a security interest in the Land, to facilitate the Borrower’s conversion of the Project into a Condominium Regime under the laws of the Commonwealth of Virginia.

Condominium Regime. (a) The Property is subject to a condominium regime pursuant to the Declaration of Condominium (as amended to date, collectively the "DECLARATION") of The New York Times Building LLC (the "CONDOMINIUM") specified in Exhibit A attached hereto, dated as of August 4, 2006 made by The New York Times Building LLC and recorded in the Office of the City Register, New York County on August 15, 2006, as CRFN 2006000460293, as amended by that certain First Amendment to the Declaration, which First Amendment was dated as of January 29, 2007, and recorded in the Office of the City Register, New York County on February 8, 2007 as CRFN 2007000075106, and further amended by that certain Second Amendment to the Declaration, which Second Amendment was dated October 11, 2007, and recorded in the Office of the City Register, New York County on January 8, 2008 as CRFN 2008000008735, and further amended by that certain Third Amendment to the Declaration, which Third Amendment was dated March 6, 2009, and is intended to recorded in the Office of the City Register, New York County. A Board of Managers (the "BOARD OF MANAGERS") governs the Condominium pursuant to the by-laws of the Condominium (the "BYLAWS") which were recorded in the like office together with the Declaration. Borrower represents and covenants that Borrower is in compliance with, and at all times hereafter shall maintain compliance with, the terms of the Lease Agreement with respect to any Condominium Documents. (b) Borrower will fully and faithfully perform and comply with the terms, conditions, and provisions of the Condominium Documents. (c) Borrower will use its commercially reasonable efforts, within fifteen (15) days after written demand by Lender, to obtain from the Board of Managers under the Condominium Documents and furnish to Lender the estoppel certificate in recordable form of such Board of Managers either required to be issued by such Board of Managers pursuant to the provisions of the Condominium Documents or in form reasonably requested by Lender.

Condominium Regime. (a) Borrower shall comply with all terms conditions and covenants in the Declaration and the Rules. (b) Borrower shall not, without Lender’s prior written consent, modify, amend, supplement or in any other manner change the terms, conditions and covenants of the Declaration or the Rules which affect, alter or impair the lien of the Security Instrument or the security therefor or which materially increase the obligations or diminishes the rights of Lender, nor waive or consent to the waiver of any enforcement of the provisions thereof with respect to another unit owner. (c) Borrower shall promptly deliver to Lender a true and full copy of each and every notice of default or notice requiring the performance of any act by Borrower received by Borrower with respect to any obligation of Borrower under the provisions of the Declaration or the Rules. (d) Borrower shall not, except with the prior written consent of Lender (i) institute any action or proceeding for partition of the Property; (ii) vote for or consent to any modification of, amendment to or relaxation in the enforcement of any provision of the Declaration or the Rules which affects, alters or impairs the lien of the Security Instrument or the security therefor, or which materially increases the obligations or diminishes the rights of 56 71215191

Condominium Regime. Tenant acknowledges that the Leased ------------------ Premises consist of three condominium units of a multi-unit condominium and that this Lease is subject to the provisions of the condominium documents which include the Declaration of Condominium, as recorded on June 15, 1982, in Official Records Book 11469 at page 2196 of the Public Records of Dade County, Florida, the Articles of Incorporation of the Vizcaya View Plaza Condominium Association, Inc. (the "Association"), the By-laws and rules of the Association, ----------- and any management or similar agreement, all of which were established by the developer, and any and all amendments thereto (collectively, the "Condominium ----------- Documents"), and that copies of all the foregoing are available for inspection --------- at the office of the Association. Tenant shall abide by all of the rules, regulations, and other provisions of the Condominium Documents. All maintenance fees, Association assessments, management fees, and other such payments to which the owner of a condominium unit is responsible shall be paid by Landlord, except for assessments and/or fines respecting actions or inactions by Tenant.

Condominium Regime. “THE PROMISING BUYER PARTY", undertakes and commits itself to: A) Comply with the Regime and Regulations to which “THE DEVELOPMENT” will be subject in the condominium to which “THE LOT” belongs and which is the reason for this contract. B) To cover the condominium administration fees established for such purpose, for which, upon signing this contract, agrees to make a payment to "THE PROMISING SELLER PARTY"as an anticipated administration fee whose amount is the equivalent to one year of payment of monthly fee, as established in the "FEES" section described in "ANNEX 3" of this contract, with a maximum term for its liquidation on DECEMBER TWO THOUSAND TWENTY-

Condominium Regime. At least fifteen (15) days prior to the Project Closing Date, Seller shall prepare and furnish to Purchaser for approval, which approval shall not be unreasonably withheld, a proposed condominium declaration, together with all exhibits and unit owners' association documents (collectively, the "DECLARATION"), sufficient to establish the Project as a condominium in accordance with the terms of the Act. Such Declaration shall provide for the establishment of the Hotel Unit and the Office Unit and shall provide, inter alia, that (i) not less than 200 parking spaces in the parking garage (such spaces to be in locations acceptable to Purchaser) will be limited common elements appurtenant to the Office Unit, (ii) the elevator lobby and elevator which serves the Office Unit exclusively is a limited common element appurtenant to the Office Unit, and (iii) that the owner of the Hotel Unit will have an ongoing (a) right of first refusal for a period of thirty (30) days to elect to purchase the Office Unit upon the same terms and conditions that the owner of the Office Unit is then willing to sell the Office Unit to a bona fide third party purchaser in an arms-length transaction and (b) option to lease or purchase the top floor of the Office Unit at the fair market value upon a change of control of Xxxxxx'x Seafood Restaurants, Inc. ("Xxxxxx'x"), as defined in the Employment Contract (effective January 1, 1998) between Xxxxxx X. Xxxxxxxx and Xxxxxx'x. Purchaser shall, within ten (10) days after receipt of the proposed Declaration, either notify Seller that it has approved same or notify Seller of Purchaser's specific objections to same. Seller and Purchaser shall resolve any objections which Purchaser has to the proposed Declaration promptly so as not to delay the Project Closing Date. Immediately prior to, or on, the Project Closing Date, Seller shall record the Declaration with respect to the Project and the Declaration, once recorded, shall be deemed a Permitted Exception.

Condominium Regime. The declaration of condominium, the map of the condominium and all other documents relating to the creation and operation of the condominium regime in the Project, including, without limitation, any covenants, conditions and restrictions, easements (including reciprocal easements), declarations, owners’ association documents, rules and regulations, and purchaser deeds (collectively, the “Governing Documents”) shall not adversely affect Operator’s rights or obligations under this Agreement in any material respect.

Condominium Regime. (a) Borrower shall comply with all terms conditions and covenants of that certain Declaration of Saucon Valley Square Condominium dated October 16, 1997 and recorded October 17, 1997, in the office of the Recorder of Deeds of Northampton County, Pennsylvania on in Volume 1997-1, beginning at Page 114559, as modified by the First Amendment to Declaration of Saucon Valley Square Condominium dated March 31, 1998 and recorded on April 6, 1998 in the office of the Recorder of Deeds of Northampton County, Pennsylvania, in Volume 1998-1, beginning at Page 041301 (collectively, "DECLARATION") and all by-laws, rules and regulations promulgated or otherwise existing with respect to the condominium regime (collectively, the "RULES") as those are in effect from time to time. (b) Borrower shall not, without Lender's prior written consent, modify, amend, supplement or in any other manner change the terms, conditions and covenants of the Declaration or the Rules which affect, alter or impair the lien of the Security Instrument or the security therefor or which materially increase the obligations or diminishes the rights of Lender, nor waive or consent to the waiver of any enforcement of the provisions thereof with respect to another Unit Owner (as defined in the Declaration). (c) Borrower shall promptly deliver to Lender a true and full copy of each and every notice of default or notice requiring the performance of any act by Borrower received by Borrower with respect to any obligation of Borrower under the provisions of the Declaration or the Rules. (d) Borrower shall not, except with the prior written consent of Lender (i) institute any action or proceeding for partition of the Property; (ii) vote for or consent to any modification of, amendment to or relaxation in the enforcement of any provision of the Declaration or the Rules which affects, alters or impairs the lien of the Security Instrument or the security therefor, or which materially increases the obligations or diminishes the rights of Lender; (iii) in the event of damage to or destruction of the Property, vote in opposition to a motion to repair, restore, or rebuild. (e) In each and every case in which, under the provisions of the Declaration or the Rules, the consent or the vote of the Unit Owners (as defined in the Declaration) is required, Borrower shall not vote or give such consent so as to impair the lien of the Security Instrument or the security therefor without, in each and every case, the prior writ...

Condominium Regime. Borrower has caused to be ------------------------------- prepared the Declaration, (y) the Plat, and (z) By-Laws, and all other documents and instruments required to convert the Land and the Improvements to a condominium regime under the Laws of the State of Illinois and to prepare the offering of the Condominium Units to the public in conformance with the requirements of applicable Laws. All of the Condominium Documents are subject to the approval of Lender and once approved by Lender, the Declaration and the other Condominium Documents shall not be revised or amended without Lender's prior approval. Borrower shall collaterally assigned to Lender (i) Borrower's interest as developer/sponsor under Declaration and other Condominium Documents and (ii) all agreements then or thereafter existing for sale of Condominium Units, by the Assignment of Construction and Operation Documents or such other form as Lender may require. Not later than [90] days prior to the closing of the sale of the first Condominium Unit (or on such earlier date as may be required by applicable Laws), Borrower shall cause: (x) the Declaration, (y) the Plat, and (z) By-Laws, and all other documents and instruments required by applicable Laws to be duly recorded in the Xxxx County, Illinois Recorder's Office. Borrower hereby covenants to include in the Offering Materials all disclosures regarding the Project required by applicable Laws.