Developer Control Period means the period of time during which the Developer shall have control of the Association, as provided in the Declaration.
Developer Control Period means the period described in Section E.26 and as set forth in the Declaration, during which Seller shall continue to have the right to appoint and remove Officers and members of the Board.
Examples of Developer Control Period in a sentence
During the Developer Control Period, the expenses of maintenance, operation, repair or replacement, and all other expenses, of Developer under the easement documents described on Exhibit A hereto shall be reimbursed by the Association as Common Expenses or from the working capital fund established in accordance with the Bylaws.
More Definitions of Developer Control Period
Developer Control Period means a period of time during which the developer or a managing agent selected by the developer manages and controls the time-share project and the common elements and units it comprises.
Developer Control Period means that certain period of time, commencing on the date of recordation of the Declaration and terminating on the Developer Control Period Termination Date.
Developer Control Period means the time period in which Developer has the right to appoint directors and officers of the Association, which period shall terminate no later than the earlier of (A) one hundred twenty (120) days after conveyance of seventy five percent (75%) of the Units to Unit Owners other than Developer, (B) seven (7) years after the first conveyance of a Unit to a Unit Owner other than Developer, or (C) Developer’s written surrender of its authority to appoint or remove officers and directors of the Association.
Developer Control Period means the time period during which Developer has the exclusive right to control the operations of the Association and to appoint the members of the Board, as provided in Section 15.6.
Developer Control Period means the period during which the developer has the right to appoint a majority of the board members. The developer control period ends when a majority of the unit owners other than the developer elect a majority of the members of the board of an association in accordance with subsection (4) of § 940 below.
Developer Control Period means a period of five (5) years from the date of recording of this Master Deed or the completion of the entire condominium project containing 120 units, whichever is longer, but not to exceed six (6) years.
Developer Control Period means the period ending on the earliest of: (i) the date the Declarant or related entities no longer own at least ten percent of the total square footage of the land described in Exhibit A attached hereto; or (ii) the date that the Declarant notifies the Association that the Developer Control Period has ended.