Leasing Permits Sample Clauses

Leasing Permits. The request of a Person who has entered into a binding purchase and sale agreement for a Unit or of an Owner for a Leasing Permit for a Unit shall be approved if current, outstanding Leasing Permits have not been issued for more than twenty-one (21) Units of the total number of Units in the Condominium. A Leasing Permit shall be automatically revoked upon the happening of any of the following events: (A) the sale or transfer of the Unit to a third party (excluding the sale to a Person who applied for a Leasing Permit in accordance with the above, and sales or transfers to (1) an Owner’s spouse, (2) a person cohabitating with the Owner, and (3) a corporation, partnership, company, or legal entity in which the Owner is a principal); (B) if the Leasing Permit was granted to a Person who was not an Owner but had entered into a binding purchase and sale agreement for a Unit, the termination of such agreement for any reason or the failure to close the purchase of the Unit within sixty (60) days of the date that the Leasing Permit was issued; (C) the failure of an Owner of a Unit to lease his or her Unit within one hundred twenty (120) days of the initial purchase from Developer of a Unit and the issuance of a Leasing Permit or the failure of an Owner of a Unit to lease his or her Unit within ninety (90) days of a resale of the Unit if a Leasing Permit has been issued; or (D) the failure of an Owner of a Unit to have his or her Unit leased for any consecutive ninety (90) day period thereafter. If current Leasing Permits have been issued for twenty-one (21) Units (excluding Units owned by Developer), no additional Leasing Permits shall be issued (except for Hardship Leasing Permits) until the number of outstanding current Leasing Permits falls below twenty-one (21) (excluding Units owned by Developer). An Owner of a Unit who has been denied a Leasing Permit shall automatically be placed on a waiting list for a Leasing Permit and shall be issued the same if they so desire when the number of current outstanding Leasing Permits issued falls to less than twenty-one (21) (excluding Units owned by Developer). The issuance of a Hardship Leasing Permit to an Owner of a Unit shall not cause the Owner of a Unit to be removed from the waiting list for a Leasing Permit.
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Leasing Permits. Notwithstanding anything to the contrary stated herein or represented by Broker or Seller, leasing of a Unit shall be permitted only in accordance with Article 15 of the Declaration if Purchaser purchases a “Leasing Permit” or applies for and is granted a “Hardship Leasing Permit.” Article 15 of the Declaration defines “leasing” as regular, exclusive occupancy of a Unit by any person other than the “Owner” of the Unit or a roommate of an Owner who occupies the Unit as such Owner’s primary residence. Occupancy by Xxxxxxxxx’s family member or Purchaser’s employee shall be deemed “leasing” requiring a “Leasing Permit” unless Purchaser simultaneously occupies the Unit as Purchaser’s primary residence. Select (a) or (b) below and initial paragraph and any applicable sub-paragraphs selected: [Initial if applicable.] Purchaser hereby represents and warrants that Purchaser does not desire to purchase a Leasing Permit and therefore shall not be entitled to lease the Unit. Subject to Article 15, Purchaser may apply for a Hardship Leasing Permit if Purchaser ever needs to lease in the future or Purchaser may seek to purchase a Leasing Permit in the future if any are available for purchase. [Initial if applicable.] Purchaser hereby represents and warrants that Purchaser desires to lease the Unit to a third party or desires the right to lease the Unit in the future and Purchaser desires to purchase a Leasing Permit. Notwithstanding the foregoing or anything to the contrary in this Agreement or the Declaration, in the event Purchaser selected “Residential occupancy by Purchaser” or “Residential occupancy by Purchaser’s family member or Purchaser’s employee” in Section 32 above, Purchaser shall not lease the Unit until the date being one (1) year after the Closing. The foregoing restriction shall be incorporated into any Leasing Permit acquired by Purchaser prior to such date. Purchaser agrees and acknowledges that Purchaser’s selections above shall constitute a true and correct representation and warranty by Purchaser which shall be true and correct as of the Binding Agreement Date and as of the date of the Closing.
Sample 1

Related to Leasing Permits

  • PARKING PERMITS A. Must be obtained on the day of move in. B. Towing charges resulting from violations will be the responsibility of the RESIDENT. C. Any form of duplication of parking permits is a violation of the LEASE AGREEMENT, and may be grounds for eviction. Note: Refer to Resident Handbook for further detail.

  • Building Permits All building permits required for the construction of the Improvements have been obtained prior to the commencement of the construction of the Improvements and copies of same will be delivered to Lessor.

  • Work Permits The Executive shall use his reasonable best efforts to obtain, maintain and renew a suitable (for the purposes of the Executive's contemplated employment by the Company) work permit by the Bermuda government authorities and any other permits required by any Bermuda government authority. The Company shall be responsible for permit fees, and all other expenses, including legal expenses, in connection with obtaining and maintaining such work permit.

  • Governmental Permits and Approvals (a) All approvals, authorizations, consents, permits and licenses from governmental and regulatory bodies required for the transactions contemplated by this Agreement and to permit the business currently carried on by Earth to continue to be carried on substantially in the same manner immediately following the Closing Date shall have been obtained and shall be in full force and effect, and the Owners shall have been furnished with appropriate evidence, reasonably satisfactory to them, of the granting of such approvals, authorizations, consents, permits and licenses; and (b) There shall not have been any action taken by any court, governmental or regulatory body then prohibiting or making illegal on the Closing Date the transactions contemplated by this Agreement.

  • Licenses and Permits Each Mortgagor covenants in the Mortgage Loan documents that it shall keep all material licenses, permits, franchises, certificates of occupancy and applicable governmental approvals necessary for the operation of the Mortgaged Property in full force and effect, and to the Mortgage Loan Seller’s knowledge based upon any of a letter from any government authorities, zoning consultant’s report or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization; all such material licenses, permits, franchises, certificates of occupancy and applicable governmental approvals are in effect or the failure to obtain or maintain such material licenses, permits, franchises or certificates of occupancy and applicable governmental approvals does not materially and adversely affect the use and/or operation of the Mortgaged Property as it was used and operated as of the date of origination of the Mortgage Loan or the rights of a holder of the related Mortgage Loan. The Mortgage Loan documents require the related Mortgagor to comply in all material respects with all applicable regulations, zoning and building laws.

  • Environmental Permits 17 ERISA........................................................................ 13

  • Governmental Licenses and Permits (a) Excluding Environmental Permits (which are covered in Section 3.11), each of the Companies holds all material governmental qualifications, registrations, filings, licenses, permits, orders, approvals or authorizations necessary to conduct its respective business and to own or use its respective assets and properties, as such businesses, assets and properties are conducted, owned and used on the date of the Original Stock Purchase Agreement (collectively, the "Material Permits"). (b) All Material Permits are valid and in full force and effect in all material respects. Except as set forth in Schedule 3.10(b) and excluding Environmental Permits (which are covered in Section 3.11), none of the Companies is in default or violation of any of the Material Permits in any material respect. Except as set forth in Schedule 3.10(b), (i) no Material Permit of any of the Companies has been revoked, suspended, non-renewed, terminated or impaired in any material respect, (ii) none of the Companies currently is the subject of any pending or, to the Knowledge of Seller, threatened Action seeking the revocation, suspension, non-renewal, termination, modification or impairment, in any material respect, of any Material Permit, and (iii) to the Knowledge of Seller, there is no existing condition of any of the Companies, nor has any of the Companies received any notice from any Governmental Authority of any fact or condition, which, if left uncured, would result in the revocation, limitation, suspension or non-renewal of any Material Permit, except where such revocation, limitation, suspension or non-renewal, individually or in the aggregate, would not reasonably be expected to have a material and adverse effect on any Real Property Asset. Except as set forth in Schedule 3.10(b), none of the Companies are operating under a Governmental Order or voluntary agreement with any regulatory authorities of any jurisdiction in which it now holds a Material Permit which restricts in any material respect its authority to do the business authorized pursuant to such Material Permit or which would prohibit or materially delay the consummation of the transactions contemplated hereby. Subject to obtaining the consents set forth in Schedule 3.04, none of the Material Permits will be subject to revocation, limitation, suspension, non-renewal, withdrawal, termination or modification as a result of the consummation of the transactions contemplated hereby, except where such revocation, limitation, suspension, non-renewal, withdrawal, termination or modification, individually or in the aggregate, would not reasonably be expected to have a material and adverse effect on any Real Property Asset.

  • Company Permits Section 2.10.............13

  • Permits and Approvals Consultant shall obtain, at its sole cost and expense, all permits and regulatory approvals necessary in the performance of this Agreement. This includes, but shall not be limited to, encroachment permits and building and safety permits and inspections.

  • Permits/Licenses Contractor and all Contractor’s employees or agents shall secure and maintain in force such permits and licenses as are required by law in connection with the furnishing of services pursuant to this Contract.

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