Common use of Right to assign Common Areas and Facilities to Manager Clause in Contracts

Right to assign Common Areas and Facilities to Manager. The right to assign the Undivided Shares relating to the Common Areas and Facilities to the Manager, without costs or consideration, for the general benefit of the Owners and upon such assignment such Undivided Shares shall be held by the Manager as trustee for all the Owners and if the Manager shall resign or be wound up or is removed and another manager appointed in its stead in accordance with the provisions of this Deed, then the liquidator or the outgoing Manager shall assign such Undivided Shares free of costs or consideration to the new manager or the Owners’ Corporation, at any time, if so required by it to hold as such trustee as aforesaid PROVIDED THAT:-