Increase in Number of Units. Any other provisions of this Master Xxxx notwithstanding, the number of Units in the Condominium may, at the option of the Developer or its successors or assigns, from time to time, within a period ending no later than six (6) years from the date of recording this Master Deed, be increased by the addition to this Condominium of any portion of the Area of future Development and the construction of Condominium Units thereon. This period may be extended with the prior approval of sixty-six and two-thirds (66 2/3%) of all Co-Owners eligible to vote. The location, nature, appearance, design (interior and exterior), structural components, and common elements of all such additional Units as may be constructed thereon shall be determined by the Developer in its sole discretion. Additional Unit areas may include mixed residential and commercial use.
Increase in Number of Units. Section 5.2 of the Partnership Agreement permits the General Partner to issue up to Ten Million Units to Additional Limited Partners. The parties agree to increase the number of Units which may be issued under Sections 5.2 and 9.1 of the Partnership Agreement by the General Partner to One Hundred Million Units. In addition, the number of Units outstanding as of the date of this Second Amendment (1,190,476.19) shall be split on a 10 for 1 basis such that number of Units outstanding shall be increased by a multiple often to 11,904,761.9 (prior to the issuance of the additional Units contemplated herein) and the number of Units (and options to acquire Units) which may be issued or granted by the General Partner to Key Personnel under Section 9.3 is increased by a multiple of ten.
Increase in Number of Units. Any other provisions of this Master Deed notwithstanding, the number of units in the project may, at the option of the Developer and with the approval of the Township, within a period ending no later than six (6) years after initial recording of this Master Deed, be increased by the addition to this condominium of all or any portion of the area of future development and the establishment of units thereon. The location, nature, appearance, design or structural components of the units and/or other improvements to be constructed within the area of future development will be determined by Developer in its sole discretion, but all such improvements will be reasonably compatible with the existing structures and improvements in the project, as determined by Developer in its sole discretion. No unit will be created within any part of the area of future development which is added to the condominium that is not restricted exclusively to residential use. The maximum number of condominium units that may be created in proposed Phase II above described is 85 units and the maximum number of units that may be created in proposed Phase III above described is 55 units.
Increase in Number of Units. Notwithstanding anything to the contrary contained in this Master Deed, the number of Units in the Project may, at the option of the Developer from time to time, within a period ending no later than six (6) years from the date of recording this Master Deed, be increased by the addition to this Condominium Project of any portion of the Area of Future Development. The location, size, and configuration of all such additional Units that may be located in the Area of Future Development shall be determined by the Developer in its sole discretion.
