Common use of Restriction on Subdivision Clause in Contracts

Restriction on Subdivision. The Owner covenants and agrees with the City that none of the Lands nor any building on the Lands shall be Subdivided by any means whatsoever. Without limiting the foregoing, the Owner acknowledges that the City will not support applications for Subdivision in any manner that would allow the Secured Rental Units to be sold independently of each other.

Restriction on Subdivision. The Owner covenants and agrees with the City that that, during the Term, none of the Lands nor any building on the Lands shall be Subdivided subdivided by any means whatsoever, excluding the consolidation of the Lands into a single lot and/or dedication of portions of the Lands to the City, or as permitted in section 3. Without limiting the foregoing, the Owner acknowledges that the City will not support applications during the Term for Subdivision subdivision in any manner that would allow dwelling units on the Secured Rental Units Lands to be sold independently of each other.