Future Condominium Declaration Sample Clauses
A Future Condominium Declaration clause outlines the intention and legal framework for establishing a condominium regime on a property at a later date. This clause typically specifies the conditions under which the declaration will be recorded, the parties responsible for preparing and filing the necessary documents, and any requirements that must be met before the condominium can be officially created. Its core practical function is to provide a clear process for converting property into a condominium in the future, ensuring all parties understand their rights and obligations and reducing uncertainty during property development or sale.
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Future Condominium Declaration. This Lease and Tenant’s rights hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the “Declaration”) which may be recorded regardless of the reason therefor, in order to permit a condominium form of ownership of the Building pursuant to the California Subdivision Map Act or any successor Requirement, provided that the Declaration does not by its terms increase the Rent, materially increase Tenant’s non-Rent obligations or materially and adversely affect Tenant’s rights under this Lease. At Landlord’s request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime.
Future Condominium Declaration. This Lease and Tenant's rights hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the "Declaration") which may be recorded in order to subject the Building to a condominium form of ownership pursuant to Article 9B of the New York Real Property Law or any successor statute, provided that the Declaration does not by its terms increase the Rent, materially increase Tenant's non-Rent obligations or materially and adversely affect Tenant's rights under this Lease. At Landlord's request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime.
Future Condominium Declaration. This Lease and Tenant’s rights hereunder will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the “Condominium Declaration”) which may hereafter be recorded in order to subject the Buildings to a condominium form of ownership pursuant to Article 9-B of the New York Real Property Law or any successor statute, provided that the Condominium Declaration does not by its terms increase the Rent, increase Tenant’s non-Rent obligations other than to a de minimis extent or reduce Tenant’s rights or Landlord’s obligations under this Lease other than to a de minimis extent. At Landlord’s request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime, but no such amendment shall be necessary in order to make such subordination effective.
Future Condominium Declaration. This Amended and Restated Lease and Tenant’s rights hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the “Declaration”) which may be recorded in order to permit a condominium form of ownership of the Building pursuant to the Washington Condominium Act, RCW 64.34.005-950, or any successor Requirement, provided that the Declaration does not increase the Rent, increase any of Tenant’s other obligations under this Amended and Restated Lease or adversely affect any of Tenant’s rights under this Amended and Restated Lease. At Landlord’s request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Amended and Restated Lease confirming such subordination and modifying this Amended and Restated Lease to conform to such condominium regime.
Future Condominium Declaration. This Lease and Tenant's rights hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the "Declaration") which may be recorded in order to subject the Building to a condominium form of ownership pursuant to Article 9-B of the New York Real Property Law or any successor statute, provided that the Declaration does not by its terms increase the Rent or increase Tenant's non-Rent obligations under this Lease (other than to a de minimis extent) or adversely affect Tenant's rights under this Lease (other than to a de minimis extent). At Landlord's request, and subject to the foregoing proviso, and provided Tenant shall receive a non-disturbance agreement reasonably satisfactory to it, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime.
Future Condominium Declaration. This Lease and Tenant’s rights hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the “Declaration”) which may be recorded in order to subject the Building to a condominium form of ownership pursuant to Article 9-B of the New York Real Property Law or any successor Requirement, provided that the Declaration does not by its terms increase the Rent, materially increase Tenant’s non-Rent obligations or materially and adversely affect Tenant’s rights under this Lease. At Landlord’s request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime and the condominium board delivers a subordination, non-disturbance and attornment agreement form reasonably satisfactory to Tenant
Future Condominium Declaration. 23 ARTICLE 10 SERVICES............................................................................... 24 SECTION 10.1 ELECTRICITY.................................................................... 24 SECTION 10.2
Future Condominium Declaration. This Lease and Tenant’s rights hereunder are and will be subject and subordinate to any Condominium Declaration and the By-Laws with respect thereto (as either may be amended from time to time) (collectively, the “Declaration”) which may be recorded in order to subject the Building to a condominium form of ownership pursuant to Article 9-B of the New York Real Property Law or any successor statute, and such By-Laws shall be deemed to be incorporated herein, provided, however, Tenant shall not be bound by any provisions of the Declaration which will increase the amount to be paid by Tenant as Fixed Rent under this Lease, or which will, in any material respect, alter or change the Premises, or which will, in any material respect, interfere with or diminish Tenant’s right to use and occupy the Premises for the Uses permitted under Section 2.01 of this Lease. At Landlord’s request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime. Landlord acknowledges that the Declaration anticipated by Landlord to be recorded contains a provision in the By-laws (Section 7.4.1 of such By-Laws) which permits Tenant, with Landlord’s consent, to become a “Registered Tenant” (as defined in such By-Laws) and, subject to certain terms and conditions set forth in such By-Laws, to seek and obtain a “Tenant Non-Disturbance Agreement” from the Board of the Condominium. Landlord hereby consents to Tenant, at Tenant’s sole cost and expense, so registering with such Board if, as and when the Declaration becomes effective, and Landlord shall reasonably cooperate with Tenant in connection therewith and shall thereafter request a Tenant Non-Disturbance Agreement from the Board of the Condominium on Tenant’s behalf.
Future Condominium Declaration. This Lease and Tenant’s rights hereunder are and will be subject to any condominium declaration, by-laws and other instruments (collectively, the “Declaration”) which may be recorded in order to subject the Building to a condominium form of ownership pursuant to the Illinois Condominium Property Act or any successor Requirement, provided that the Declaration does not by its terms increase the Rent or Tenant’s other monetary obligations under this Lease, materially increase Tenant’s non-Rent obligations or material and adversely affect Tenant’s rights under this Lease. At Landlord’s request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime.
Future Condominium Declaration. This Lease and Tenant's rights hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other instruments (collectively, the "CONDOMINIUM DOCUMENTS") which may be recorded in order to subject the Building to a condominium form of ownership pursuant to the laws of the Commonwealth of Pennsylvania, provided that the Condominium Documents do not by their terms increase the Rent, materially increase Tenant's non-Rent obligations or materially and adversely affect Tenant's rights under this Lease. At Landlord's request, and subject to the foregoing proviso, Tenant will execute and deliver to Landlord an amendment of this Lease confirming such subordination and modifying this Lease to conform to such condominium regime.