Common use of Undivided Shares for the Common Areas and Facilities Clause in Contracts

Undivided Shares for the Common Areas and Facilities. (a) The First Owner shall upon execution of this Deed assign the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities to the Manager free of cost or consideration to be held on trust for the Owners. (b) In the event the appointment of the Manager is terminated or the Manager shall resign or be wound up or have a receiving order made against it or is removed and another Manager be appointed in its stead in accordance with this Deed, then the outgoing Manager or the liquidator or the receiver shall assign the Undivided Shares attributed to the Common Areas and Facilities together with the Common Areas and Facilities which they represent to the new Manager free of costs or consideration. (c) When the Owners’ Corporation has been formed, it may request the Manager to and the Manager shall assign the Undivided Shares in the Common Areas and Facilities together with the Common Areas and Facilities and transfer the management responsibilities to it free of costs or consideration, in which event, the Owners’ Corporation must hold them on trust for the benefit of the Owners for the time being.

Undivided Shares for the Common Areas and Facilities. (a) The First Owner shall upon execution of this Deed assign the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities to the Manager free of cost costs or consideration to be held on trust for the Owners. (b) In the event the appointment of the Manager is terminated or the Manager shall resign or be wound up or have a receiving order made against it or is removed and another Manager be appointed in its stead in accordance with this Deed, then the outgoing Manager or the liquidator or the receiver shall assign the Undivided Shares attributed to the Common Areas and Facilities together with the Common Areas and Facilities which they represent to the new Manager free of costs or consideration. (c) When the Owners’ ' Corporation has been formed, it may request the Manager to and the Manager shall assign the Undivided Shares in the Common Areas and Facilities together with the Common Areas and Facilities and transfer the management responsibilities to it free of costs or consideration, in which event, the Owners’ ' Corporation must hold them on trust for the benefit of the Owners for the time being.

Undivided Shares for the Common Areas and Facilities. (a) The First Owner may not assign, mortgage or charge or otherwise dispose of or part with the possession of any Undivided Shares allocated to the Common Areas and Facilities or any interest therein or enter into any agreement so to do except that the First Owner shall upon execution of this Deed assign to and vest in the whole of Manager the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities to the Manager free of cost or consideration to be held on trust as trustee for the Ownersbenefits of all Owners for the time being of the Undivided Shares in the Land and the Development. (b) In Subject to sub-clause (c), in the event the appointment of the Manager is terminated or the Manager shall resign or be wound up or have a receiving order made against it or is removed and another Manager be appointed in its stead in accordance with this Deed, then the outgoing Manager or the liquidator or the receiver shall assign the Undivided Shares attributed allocated to the Common Areas and Facilities together with the Common Areas and Facilities which they represent to the new Manager free of costs or considerationconsideration as trustee for the benefit of all Owners for the time being of the Undivided Shares of the Land and the Development. (c) When If so required by the Owners’ Corporation has been formedCorporation, it may request the Manager to and the Manager shall assign the Undivided Shares in allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer the management responsibilities to it the Owners’ Corporation at any time free of costs or consideration, in which event, the Owners’ Corporation must hold them on trust for the benefit of the all Owners for the time beingbeing of the Undivided Shares in the Land and the Development.

Undivided Shares for the Common Areas and Facilities. (a) The First Owner shall upon execution of this Deed assign the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities to the Manager free of cost or consideration to be held on trust for the Owners. (b) In the event the appointment of the Manager is terminated or the Manager shall resign or be wound up or have a receiving order made against it or is removed and another Manager be appointed in its stead in accordance with the provisions of this Deed, then the outgoing Manager or the liquidator or the receiver shall assign the Undivided Shares attributed to the Common Areas and Facilities together with the Common Areas and Facilities which they represent to the new Manager free of costs or consideration. (c) When the Owners’ ' Corporation has been formed, it may request the Manager to and the Manager shall assign the Undivided Shares in the Common Areas and Facilities together with the Common Areas and Facilities and transfer the management responsibilities to it free of costs or consideration, in which event, the Owners’ ' Corporation must hold them on trust for the benefit of the Owners for the time being.

Undivided Shares for the Common Areas and Facilities. (a) The First Owner Owners shall upon execution of this Deed assign the whole of the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities to the Manager free of cost or consideration to be held on trust for the Owners. (b) In the event the appointment of the Manager is terminated or the Manager shall resign or be wound up or have a receiving order made against it or is removed and another Manager be appointed in its stead in accordance with this Deed, then the outgoing Manager or the liquidator or the receiver shall assign the Undivided Shares attributed to the Common Areas and Facilities together with the Common Areas and Facilities which they represent to the new Manager free of costs or consideration. (c) When the Owners’ Corporation has been formed, it may request the Manager to and the Manager shall assign the Undivided Shares in the Common Areas and Facilities together with the Common Areas and Facilities and transfer the management responsibilities to it free of costs or consideration, in which event, the Owners’ Corporation must hold them on trust for the benefit of the Owners for the time being.