Subdivision of Units Sample Clauses

Subdivision of Units. ‌ The Manager may, at any time or times, subdivide Units of any class or series in a manner that is different to the treatment of Units of another series only if the Net Asset Value per Unit of such series is amended such that the aggregate Net Asset Value of all Units of such series prior to such subdivision is equal to the aggregate Net Asset Value of all Units of such series following such subdivision. The Manager shall take such steps as may be necessary to notify the registrar and/or transfer agent of the basis of the subdivision so that applicable notification can be made in the Register of the applicable series of a Fund. If there is only one series (or no series designated) for a class, the same rules shall apply (with necessary modifications) in respect of the subdivision of Units of that class.
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Subdivision of Units. No Unit shall be subdivided into a smaller Unit or Units; provided, however, Developer shall have the right to subdivide Units owned by Developer without the approval of the Board, and the Board shall execute the required amendment to the Declaration.
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Subdivision of Units. The Co-owner of a Unit may subdivide his Unit upon request to the Association in accordance with Section 49 of the Act. Upon receipt of such request, the president of the Association shall cause to be prepared an amendment to the Master Deed, duly subdividing the Unit, separately identifying the resulting Units by number or other designation, designating only the Limited or General Common Elements in connection therewith, and reallocating the percentages of value in accordance with the Co-owner's request. The Co-owner requesting such subdivision shall bear all costs of such amendment. Such subdivision shall not become effective, however, until the amendment to the Master Deed, duly executed by the Association, has been recorded in the office of the Oakland County Register of Deeds.
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Subdivision of Units. No Unit shall be subdivided or its boundary lines changed except with the prior written approval of the Board of Directors of the Association. Any such division, boundary line change, or replatting shall not be in violation of the applicable subdivision and zoning regulations.
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Subdivision of Units. An Owner may subdivide the Unit only in accordance with the provisions of §44-3-92 of the Act, and this Declaration. During the Development Period, the Owner of a Unit must obtain the prior written consent of the Declarant in order to subdivide the Unit. After the Development Period is terminated, an Owner must obtain the prior written consent of the Board of Directors in order to subdivide the Unit.
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Related to Subdivision of Units

  • No partnership or agency Nothing in this Agreement is intended to, or shall be deemed to, establish any partnership or joint venture between any of the Parties, constitute any Party the agent of another Party, nor authorise any Party to make or enter into any commitments for or on behalf of any other Party.

  • Reclassification If any reclassification of the capital stock of the Company shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities, or other assets or property, then, as a condition of such reclassification, lawful and adequate provisions shall be made whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu of the shares of the Common Stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby) such shares of stock, securities or other assets or property as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Common Stock equal to the number of shares of such Common Stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby. In any reclassification described above, appropriate provision shall be made with respect to the rights and interests of the Holder of this Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustments of the Exercise Price and of the number of shares purchasable and receivable upon the exercise of this Warrant) shall thereafter be applicable, as nearly as may be, in relation to any shares of stock, securities or assets thereafter deliverable upon the exercise hereof.

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