LEVY STABILIZATION FUND Sample Clauses

LEVY STABILIZATION FUND. The PURCHASER shall, on or before registration of transfer pay the Izinga Park Management Association the sum referred to in K of the schedule, towards the Levy Stabilization Fund, which amount is non-refundable. This is used for future capital expenditure for enhancement, improvements or preservation of the Estate.
Sample 1
AutoNDA by SimpleDocs
LEVY STABILIZATION FUND. 22.1. In order to curtail the increase of Levies as far as possible a levy stabilization fund will be established by the Body Corporate. 22.2. In the instance of the Alienation, selling or transfer of the Property by the Purchaser for any reason whatsoever, the Purchaser must pay the LSC to the Body Corporate, on the date of transfer or Alienation of the Property, as the case may be. The Purchaser hereby irrevocably authorizes the attorneys attending to the transfer or Alienation, to deduct this amount from the selling price or market value of the Property and to pay this amount to the Body Corporate in accordance with his Agreement and the Constitution, on the date of registration of the relevant transfer of the effective date of the Alienation, as the case may be. 22.3. For the purpose of Clause 22.2 of this Agreement, the resale price of the Property will be the gross selling price of the Property, without any deductions, and, in the instance of an Alienation of the Property, the resale price will be deemed to be the market value of the Property, as determined by ZLEMHOA, in terms of the Constitution. 22.4. The LSC must be utilized by the Body Corporate for the purposes of the levy stabilization fund, for the benefit and advantage of all the Member of the Body Corporate. 22.5. Restrictions will be registered against the title deeds of all Land Units in order to give effect to the terms of this Clause 22 The Purchaser shall however be bound by this Clause whether or not such restrictions are registered in the Cape Town Deeds Registry, or not.
Sample 1
LEVY STABILIZATION FUND. 28.1. To curtail the increases of Levies as far as possible, a Levy Stabilization Fund will be established by the LECMHOA, as more fully provided for in the Constitution. 28.2. In the instance of an Alienation (as defined in the Constitution and which includes the sale of the Property by the Purchaser or its successors in title in perpetuity) of the Property by the Purchaser, or any of its successors in title in perpetuity, the Purchaser or its successors in title in perpetuity, must pay the LSC to the LECMHOA, on the date of Alienation and/or date of registration of transfer of the Property. 28.3. No clearance certificate for the Alienation of the Property, as more fully provided for in the Constitution, may be issued by the LECMHOA unless payment of the LSC is made or undertaken by the Attorney/s attending to the Alienation of the Property by the Purchaser or its successors in title in perpetuity. The Purchaser hereby irrevocably authorizes the Attorney/s attending to the Alienation of the Property on its behalf, to deduct the LSC from the proceeds of the sale due to the Purchaser and to pay this amount to the LECMHOA on the requisite date of Alienation. 28.4. The LSC shall be an amount equal to:
Sample 1
LEVY STABILIZATION FUND. The amount payable by the Purchaser towards the Levy Stabilization Fund established in terms of the Association’s Memorandum of Incorporation is stipulated in clause 1.12 of the Contract of Sale.
Sample 1
LEVY STABILIZATION FUND. Upon the subsequent transfer of any freehold residential erf from the first or subsequent owner (not applicable to stands sold by Developer) thereafter the proposed transferee will be obliged to pay R10 000.00 (Ten Thousand Rand), or such amount and in such instalments as the Directors may resolve upon their discretion, to the Company or the Estate D’Afrique Master Owners Association NPC for the purpose of establishing and maintaining a levy stabilization fund.
Sample 1

Related to LEVY STABILIZATION FUND

  • Market Stabilization In connection with the distribution of the Offered Shares, the Underwriters (or any of them) may effect transactions which stabilize or maintain the market price of the Common Shares at levels other than those which might otherwise prevail in the open market, but in each case as permitted by Applicable Securities Laws. Such stabilizing transactions, if any, may be discontinued by the Underwriters at any time.

  • No Stabilization The Company has not taken, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Shares.

  • Stabilization Neither the Company nor, to its knowledge, any of its employees, directors or shareholders (without the consent of the Representative) has taken or shall take, directly or indirectly, any action designed to or that has constituted or that might reasonably be expected to cause or result in, under Regulation M of the Exchange Act, or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Public Securities.

  • No Market Stabilization or Manipulation The Company has not taken and will not take, directly or indirectly, any action designed to or which might reasonably be expected to cause or result in, or which has constituted, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities.

  • No Stabilization or Manipulation The Company will not take, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in, under the Exchange Act or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities.

  • Education Fund Full-Time and Part-Time 27.01 If the Local Union indicates to the Hospital that a special assessment of $0.03 per hour for Union education applies to all bargaining unit members, the Hospital agrees to deduct this assessment. Such assessment along with a listing of employees will be paid on a quarterly basis into a trust fund established and administered by the applicable SEIU Local Union for this purpose.

  • Prohibition on Political Activity with City Funds In accordance with San Francisco Administrative Code Chapter 12.G, Contractor may not participate in, support, or attempt to influence any political campaign for a candidate or for a ballot measure (collectively, “Political Activity”) in the performance of the services provided under this Agreement. Contractor agrees to comply with San Francisco Administrative Code Chapter 12.G and any implementing rules and regulations promulgated by the City’s Controller. The terms and provisions of Chapter 12.G are incorporated herein by this reference. In the event Contractor violates the provisions of this section, the City may, in addition to any other rights or remedies available hereunder, (i) terminate this Agreement, and (ii) prohibit Contractor from bidding on or receiving any new City contract for a period of two (2) years. The Controller will not consider Contractor’s use of profit as a violation of this section.

  • No Stabilization or Manipulation; Compliance with Regulation M The Company will not take, and will ensure that no affiliate of the Company will take, directly or indirectly, any action designed to or that might cause or result in stabilization or manipulation of the price of the Shares or any reference security with respect to the Shares, whether to facilitate the sale or resale of the Offered Shares or otherwise, and the Company will, and shall cause each of its affiliates to, comply with all applicable provisions of Regulation M.

  • No Price Stabilization or Manipulation The Company has not taken and will not take, directly or indirectly, any action designed to, or that might be reasonably expected to cause or result in, stabilization or manipulation of the price of any securities of the Company to facilitate the sale or resale of the Offered Securities.

  • No Price Stabilization Neither the Company, its Subsidiaries nor any of the Company’s or its Subsidiaries’ officers, directors or affiliates has taken or will take, directly or indirectly, any action designed or intended to stabilize or manipulate the price of any security of the Company, or which caused or resulted in, or which would in the future reasonably be expected to cause or result in, stabilization or manipulation of the price of any security of the Company.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!