Subdivision of Property. The Purchaser acknowledges that the Seller may, instead of developing any phase, elect to subdivide that portion of the land on which the phase was to be developed from the land as defined in clause 2.1, take transfer of the subdivided portion and develop the subdivided portion as it may deem fit. In order to enable the developer to give effect to the above, the Purchaser hereby grants to the Seller an irrevocable power of attorney to convene and attend on the Purchaser's behalf any meeting of the Body Corporate at which any resolution relating to the above is on the agenda, and there to vote in favour of any resolution the Seller may deem necessary in order to subdivide and transfer the affected property and provide for any servitudes which may be necessary to permit the proper development of the subdivided property.
Subdivision of Property. If the Property comprises part of a larger parcel of land within Lakeside Success Private Estate and is accordingly not a lot as defined in the Planning and Development Act then this Contract is subject to and conditional upon the approval of the Commission to the subdivision of the lot of which the Property forms part being obtained in order to create the Property as a separate lot in accordance with Section 135 of the Planning and Development Act and this Condition shall apply.
Subdivision of Property. Subdivision of a Unit into two or more Units, or changing the boundary lines of any Unit, after a subdivision plat including such Unit has been approved and Recorded, except that Declarant shall be permitted to subdivide or replat Units which it owns.
Subdivision of Property. On or before April 1, 2016, Xxxxx shall cause the Property to be legally subdivided to create the Office Building 1 Parcel as contemplated by Recital C. Such subdivision shall not require SCI’s consent so long as the Office Building 1 Parcel is subdivided from the remainder of the Property substantially as set forth on the proposed plat set forth on the Site Plan. Xxxxx shall then transfer Office Building 1 Parcel to Landlord. At such time as Xxxxx elects or is obligated pursuant to this Agreement to construct Office Building 2, Xxxxx shall cause the remainder of the Property to be legally subdivided to create the Adjoining Parcel as contemplated by Recital C. Thereafter, Xxxxx shall have the right to transfer or convey the Adjoining Parcel and remainder of the Property to an affiliate, and in connection with such transfer or conveyance, Xxxxx shall assign its rights and obligations, and such affiliate shall assume Xxxxx’x rights and obligations, under this Agreement, and thereafter the affiliate of Xxxxx shall be deemed to be “Xxxxx” for all purposes of this Agreement. Upon the assignment and assumption of this Agreement to an affiliate of Xxxxx, and except as otherwise specified in subsection 3(a), above, Xxxxx shall be released from all obligations of “Xxxxx” under this Agreement as and to the extent any such affiliate of Xxxxx shall perform the obligations of Xxxxx under this Agreement.
Subdivision of Property. Section 1.7 of the Lease is hereby deleted.
Subdivision of Property. The parcel (#201-03611-0200) shall be subdivided by CSM, with Lot 1 identified on Exhibit 1 transferred to El Tarasco, LLC pursuant to subparagraph 6, below.
Subdivision of Property. If the Property is subdivided or more than one dwelling is created or constructed on the Property, the requirements of this Deed Restriction Agreement shall apply to all new parcels created from the division of the Property and/or any dwelling unit constructed on the Property.
Subdivision of Property. The premises shall not be subdivided without the express approval of the Grantors, and such owners or their successors.
Subdivision of Property. As of the date hereof, the Property is currently part of a larger parcel of real property. On or before the date that is two hundred forty (240) days after the date hereof, Landlord shall cause such parcel to be subdivided substantially as shown on Exhibit “A-1”. Such subdivision shall not require Tenant’s consent so long as the subdivision is substantially similar to the proposed plat set forth on Exhibit “A-1” attached hereto. At such time as the Property is subdivided, Landlord and Tenant shall enter into an amendment to this Lease to modify the legal description set forth on Exhibit “A” to this Lease to include only the Property.
Subdivision of Property. Notwithstanding anything to the contrary in Section 10.8.1 above, if any Partial Transfer results in a subdivision of the Property, Lessee shall have the right to receive, review, and comment on any applications for any such subdivision before the same are submitted to or filed with the applicable governmental body, and shall be entitled to receive prior written notice from Landowner of any public proceeding related thereto. Any such subdivision shall not violate any zoning and/or subdivided land ordinances and regulations (including but not limited to any setback requirements) applicable to all or any portion of any Lessee’s project located or to be located thereon.
