Homeowners Corporation to Operate in Similar Manner to a Strata Corporation Sample Clauses

Homeowners Corporation to Operate in Similar Manner to a Strata Corporation. Notwithstanding the fact that a strata plan under the Strata Property Act cannot be filed in respect of the Lands, and without limiting the provisions of this Sublease, the parties agreed that it is their intention that the Project and the Homeowners Corporation operate in a manner essentially similar to that which would exist if a strata plan was filed in respect of the Lands, and the Homeowners Corporation was a strata corporation. In the event of a disagreement as to the applicability of a provision of the Strata Property Act, and amendments, replacement legislation or successor statutes, the matter may be referred to arbitration, provided that the provisions of this Sublease are paramount. The Sublandlord may delegate any powers or rights it has hereunder to the Homeowners Corporation from time to time.
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