Purpose of Declaration Sample Clauses

Purpose of Declaration. This declaration is made to the Title Company as an inducement to it to complete a transaction concerning the Property. Seller acknowledges that Title Company is relying upon the representations in this declaration as being true and correct and that the transaction contemplated would not be consummated without this declaration being executed.
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Purpose of Declaration. The purpose of this Declaration is to insure the best use and most desirable development and improvement of the Property for residential purposes only; to protect the Developer and future owners of Lots against such improper use of the Property as to depreciate the value of their Lot; to preserve, so far as practicable, the natural beauty of said Property; to guard against the erection thereon of poorly designed structures or structures built of improper or unsuitable materials; and, to prevent abusive offensive, unsightly, or other improper use of said Xxxx; and in general to protect and enhance the value of investments made by purchasers of Lots therein.
Sample 1
Purpose of Declaration. The Property is subjected to this Declaration to promote the proper use and appropriate development and improvement of the Property, together with the Building Sites situated thereon. It is the intent of this Declaration to provide conditions, covenants, restrictions, reservations, easements, assessments, liens, standards and criteria to: maintain Bayside Concourse as an attractive, park-like setting for the conduct of business and commercial activities with landscaped, open areas and attractive, high quality structures; promote the desirable use and appropriate development and improvement of the Property; encourage the erection of attractive improvements at appropriate locations; encourage reasonably harmonious and consistent improvement of the Property; promote the proper management, improvement, maintenance, repair and replacement of the Common Areas and all Improvements constructed upon the Property and the right to maintain the rights-of-way, roads and medians; provide generally for the improvement and utilization of the Property in a high-quality manner. This section shall be used by the Board as a standard and overall guideline in: judging performance and interpreting the provisions of this Declaration; granting approval or disapproval of the development, improvement, utilization, occupation, maintenance, repair or replacement of any portion of the Property, or any Improvements situated thereon, by Owners, lessees, sublessees, licensees, occupants or other users of any portion of the Property; determining the manner in which, and the purposes for which, the Assessments may be levied, assessed or utilized by the Association.
Sample 1
Purpose of Declaration. The Property is subjected to this Declaration to promote the proper use and appropriate development and improvement of the Property, together with the Building Sites situated thereon. It is the intent of this Declaration to provide conditions, covenants, restrictions, reservations, easements, assessments, liens, standards and criteria to: maintain Bayside Concourse as an attractive, park-like setting for the conduct of business and commercial activities with landscaped, open areas
Sample 1

Related to Purpose of Declaration

  • Purpose of Agreement 1.01 The purpose of this Agreement is to maintain harmonious and mutually beneficial relationships between the Employer, the employees and the Union, to set forth certain terms and conditions of employment relating to pay, hours of work, employee benefits, and general working conditions affecting employees covered by this Agreement and to ensure that all reasonable measures are provided for the safety and occupational health of the employees.

  • Declaration of Trust The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Act and that this Agreement constitute the governing instrument of such statutory trust. The Trust is not intended to be a business trust within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. It is also the intention of the parties hereto that, solely for Federal, state and local income and franchise tax purposes, on and after the Closing Date, (a) so long as the Trust has only one Certificateholder, the Trust shall be disregarded as a separate entity and (b) at such time as the Trust has more than one Certificateholder, the Trust will be treated as a partnership, with the assets of the partnership being the Receivables and other assets held by the Trust, the partners of the partnership being the Certificateholders, and the Notes being non-recourse debt of the partnership. The Depositor (and any future Certificateholder by the purchase of the Trust Certificate will be deemed to have agreed) and the Owner Trustee agree to take no action inconsistent with such tax treatment. The Trust shall not elect to be treated as an association under Treasury Regulations Section 301.7701-3(a). The parties agree that, unless otherwise required by appropriate tax authorities, the sole Certificateholder or the Trust, as applicable, will file or cause to be filed annual or other necessary returns, reports and other forms consistent with the foregoing characterization of the Trust for such tax purposes. Effective as of the date hereof, the Owner Trustee, shall have all rights, powers and duties set forth herein and, to the extent not inconsistent herewith, in the Statutory Trust Act with respect to accomplishing the purposes of the Trust. Any action taken on behalf of the Trust prior to the date hereof with respect to the filing of financing statements, the Certificate of Trust, a qualification to do business in the State of Alabama or any other similar qualification or license in any other state or jurisdiction, if applicable, is hereby ratified.

  • Purpose of Trust The purpose of the Trust is to conduct, operate and carry on the business of a management investment company registered under the 1940 Act through one or more Series investing primarily in securities.

  • Agreement and Declaration of Trust These By-Laws shall be subject to the Agreement and Declaration of Trust, as from time to time in effect (the "Declaration of Trust"), of the above-captioned Massachusetts business trust established by the Declaration of Trust (the "Trust").

  • Purpose of Plan The Board of each Participating Fund maintains this Deferred Compensation Plan for Independent Directors and Trustees. The purpose of the Plan is to allow the independent directors and trustees of the Participating Funds to defer receipt of all or a portion of the compensation they earn for their service to the Participating Funds in lieu of receiving current payments of such compensation, and to treat any deferred amount as though an equivalent dollar amount had been invested in shares of one or more Eligible Funds. Each Board intends that the Plan shall be maintained at all times on an unfunded basis for federal income tax purposes under the Code. The Plan is not covered by the Employee Retirement Income Security Act of 1974, as amended.

  • Amendments to Partnership Agreement Amendments to the Partnership Agreement, including the admission of new Partners to the Partnership, shall require the consent of all the Partners.

  • Purpose of the Partnership The purpose of the Partnership is to acquire, construct, own and operate the Apartment Housing in order to provide, in part, Tax Credits to the Partners in accordance with the provisions of the Code and the Treasury Regulations applicable to LIHTC and to sell the Apartment Housing. The Partnership shall not engage in any business or activity which is not incident to the attainment of such purpose.

  • Operating Agreement You haves received and read a copy of the Company’s Operating Agreement (the “Operating Agreement”) and agree that your execution of this Agreement constitutes your consent to and execution of the Operating Agreement, and, that upon acceptance of this Agreement by the Company, you will become a member of the Company as a holder of Shares. When this Agreement is countersigned by the Company, the Operating Agreement shall be binding upon you as of the closing date.

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