Subdivision and Zoning Sample Clauses

Subdivision and Zoning. In connection with a potential sale of a portion of the Land and the Improvements in 2010, Mortgagor (a) obtained approval from the City of Xxxxx, Minnesota (the “City”) of a resubdivision of the Land in the form of a new subdivision plat thereof entitled “LONE OAK 3RD ADDITION,” as shown on Exhibit A to the Development Agreement (as defined hereafter) (the “New Plat”); (b) obtained preliminary approval by the City of an unexecuted and undated draft of a Development Contract by and between the City and NWA Real Estate Holding Company LLC relating to the Land and the New Plat (the “Development Agreement”); and (c) began negotiation of an amended or replacement Planned Development Agreement with the City relating to the zoning status of the Land (the “New PDA”). Said potential sale was not consummated, and Mortgagor is evaluating whether it would be more advantageous in negotiating any future sale of the Improvements, Land, or any portion of the Land to (i) now record the New Plat, sign the Development Agreement and finalize the New PDA, or (ii) wait until a buyer has been identified and its specific plans for the Land or portion thereof are ascertained and then (A) record the New Plat, sign the Development Agreement and finalize the New PDA, (B) revise the New Plat and the Development Agreement and finalize the New PDA, (C) have the City approve a different subdivision plat and/or amendments to or a substitute for the Development Agreement and finalize the New PDA, or (D) allow the buyer to itself pursue any resubdivision or rezoning which it may require, as seems most appropriate to accommodate the buyer's objectives with respect to the Land or portion thereof at the time. By acceptance of this Mortgage, Mortgagee acknowledges that it has received a copy of each of the New Plat and the Development Agreement and has approved the same, and agrees that, if requested to do so in writing by Mortgagor, it will within a reasonable period of time and in writing, if appropriate, (1) join in and/or consent to the New Plat and the Development Agreement, as appropriate, if Mortgagor elects to sign and record the New Plat and to finalize and sign the Development Agreement; (2) subject to Mortgagee's approval of the New PDA, consent to and/or join in the New PDA; (3) subject to Mortgagee's approval of the revisions to the New Plat and Development Agreement, consent to and/or join in any such revisions to the New Plat and to the Development Agreement proposed by Mortgago...
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Subdivision and Zoning. The Property has been duly subdivided in accordance with all applicable laws and constitutes a legal parcel.
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Subdivision and Zoning a) The Developer shall, at its own cost and expense, prepare and secure approval and registration of any plan(s) of subdivision and any plan(s) of survey.
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Subdivision and Zoning. Each parcel of the Real Property (i) constitutes a legally subdivided parcel of real property, (ii) is presently zoned for the current use and (iii) has legal access to public rights-of-way.
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Related to Subdivision and Zoning

  • Subdivision Landlord reserves the right to further subdivide all or a portion of the Project. Tenant agrees to execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to the circumstances resulting from such subdivision.

  • Subdivisions and Combinations In the event that the outstanding shares of common stock are subdivided (by stock split, by payment of a stock dividend or otherwise) into a greater number of shares of such securities, the number of Shares issuable upon exercise of the rights under this Warrant immediately prior to such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately increased, and the Exercise Price shall be proportionately decreased, and in the event that the outstanding shares of common stock are combined (by reclassification or otherwise) into a lesser number of shares of such securities, the number of Shares issuable upon exercise of the rights under this Warrant immediately prior to such combination shall, concurrently with the effectiveness of such combination, be proportionately decreased, and the Exercise Price shall be proportionately increased.

  • Division and Combination Subject to Section 9, this Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office or agency of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by Holder or its agent or attorney. Subject to compliance with Section 3.1 and with Section 9, as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice.

  • Sub-Divisions If after the date hereof, and subject to the provisions of Section 4.6 below, the number of issued and outstanding Ordinary Shares is increased by a capitalization or share dividend of Ordinary Shares, or by a sub-division of Ordinary Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the issued and outstanding Ordinary Shares. A rights offering made to all or substantially all holders of Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed a capitalization of a number of Ordinary Shares equal to the product of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the Ordinary Shares) multiplied by (ii) one (1) minus the quotient of (x) the price per Ordinary Share paid in such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Ordinary Shares, in determining the price payable for Ordinary Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average price of the Ordinary Shares during the ten (10) trading day period ending on the trading day prior to the first date on which the Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. No Ordinary Shares shall be issued at less than their par value.

  • Partnership Formation and Identification 6 2.1 Formation............................................................................................ 6 2.2 Name, Office and Registered Agent.................................................................... 6 2.3 Partners............................................................................................. 6 2.4

  • Reorganization and Master/Feeder (a) Notwithstanding anything else herein, the Trustees may, in their sole discretion and without Shareholder approval unless such approval is required by the 1940 Act, (i) cause the Trust to convert or merge, reorganize or consolidate with or into one or more trusts, partnerships, limited liability companies, associations, corporations or other business entities (or a series of any of the foregoing to the extent permitted by law) (including trusts, partnerships, limited liability companies, associations, corporations or other business entities created by the Trustees to accomplish such conversion, merger, reorganization or consolidation) so long as the surviving or resulting entity is an open-end management investment company under the 1940 Act, or is a series thereof, to the extent permitted by law, and that, in the case of any trust, partnership, limited liability company, association, corporation or other business entity created by the Trustees to accomplish such conversion, merger, reorganization or consolidation, may (but need not) succeed to or assume the Trust’s registration under the 1940 Act and that, in any case, is formed, organized or existing under the laws of the United States or of a state, commonwealth, possession or colony of the United States, (ii) cause the Shares to be exchanged under or pursuant to any state or federal statute to the extent permitted by law, (iii) cause the Trust to incorporate under the laws of a state, commonwealth, possession or colony of the United States, (iv) sell or convey all or substantially all of the assets of the Trust or any Series or Class to another Series or Class of the Trust or to another trust, partnership, limited liability company, association, corporation or other business entity (or a series of any of the foregoing to the extent permitted by law) (including a trust, partnership, limited liability company, association, corporation or other business entity created by the Trustees to accomplish such sale and conveyance), organized under the laws of the United States or of any state, commonwealth, possession or colony of the United States so long as such trust, partnership, limited liability company, association, corporation or other business entity is an open-end management investment company under the 1940 Act and, in the case of any trust, partnership, limited liability company, association, corporation or other business entity created by the Trustees to accomplish such sale and conveyance, may (but need not) succeed to or assume the Trust’s registration under the 1940 Act, for adequate consideration as determined by the Trustees that may include the assumption of all outstanding obligations, taxes and other liabilities, accrued or contingent of the Trust or any affected Series or Class, and that may include Shares of such other Series or Class of the Trust or shares of beneficial interest, stock or other ownership interest of such trust, partnership, limited liability company, association, corporation or other business entity (or series thereof) or (v) at any time sell or convert into money all or any part of the assets of the Trust or any Series or Class. Any certificate of merger, certificate of conversion or other applicable certificate may be signed by any one (1) Trustee and facsimile signatures conveyed by electronic or telecommunication means shall be valid.

  • Zoning Borrower shall not initiate or consent to any zoning reclassification of any portion of the Property or seek any variance under any existing zoning ordinance or use or permit the use of any portion of the Property in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation, without the prior consent of Lender.

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