One Share is defined in Section 6.02(b);
One Share means 1/60th for each Interval (subject to reduction of the denominator by 10 for each Cottage less than six (6) Cottages that will comprise the Property. By way of example, the denominator will be reduced by 20 if only four (4) Cottages form part of the Property).
One Share is defined in Section 6.02(b); “Owner” means a person who from time to time is an Owner of an Interval (and a member of the Association ) who has become a party to this Agreement, either by being an original party, or by being a New Owner pursuant to the Transfer Agreement attached as Exhibit "B"; “Owner’s Purchase Contract” means the Agreement of Purchase and Sale whereby and Owner acquired that Owner’s Interval(s) from the Association ; “Partial Destruction of Cottages” is defined in Section 10.01; “Partial Destruction Not Affecting the Cottages” is defined in Section 10.01; “Partial Taking” is defined in Section 10.01; “Partial Taking Not Affecting the Cottages” is defined in Section 10.01; “Personal Charges” is defined in Section 6.02(e); “Proceeds” is defined in Section 6.18; “Project” means all the Cottages built on the Property, there being six (6) Cottages;
Examples of One Share in a sentence
One Share of Property Expenses will be adjusted or determined again at the same time the Budget is adjusted.
More Definitions of One Share
One Share means 1/60th for each Interval (subject to reduction of the denominator by 10 for each Cottage less than six (6) Cottages that will comprise the Property. By way of example, the denominator will be reduced by 20 if only four (4) Cottages form part of the Property). (c) “Basic Charge” is the regular charge for each Interval. It will be for One Share of Property Expenses, as estimated in the Budget, plus late charges and interest if the Basic Charge is not paid when due, and all costs of collecting unpaid Basic Charges which include but are not limited to court costs and legal fees. (d) A “Special Charge” is an added charge as needed for each Interval. It will be for One Share of the amount of money needed to keep paying Property Expenses on a current basis, as estimated in a Supplemental Budget, plus late charges and interest if a Special Charge is not paid when due, and all collection costs on unpaid Special Charges. (e) “Personal Charges” means all expenses that result from the act or the failure to act of any Owner, Exchange User, or Occupant (except failure to pay any Basic or Special Charge). Among other things, they include all: (i) extra services requested by an Owner, Exchange User or Occupant, including maid service and long distance telephone charges; (ii) late charges and interest on unpaid Personal Charges; (iii) collection costs on unpaid Personal Charges and costs of enforcing this Agreement and the Rules, including fines, court costs and legal fees; (iv) costs to repair any damage (other than ordinary wear and tear) caused by: (A) that Owner, Exchange User or Occupant; or (B) Renters, Visitors or other Occupants during the time that he is entitled to use; (v) costs of replacing Common Furnishings that are lost or missing; (vi) damage and injury to any other Owner, Occupant or the Association due to his/her violation of this Agreement or the Rules; and (vii) any advances made by the Association for any Owner, Exchange User or Occupant. Advances are costs incurred by the Association in: (A) doing what that Owner was required to (but did not) do; or (B) repairing or correcting any damage that person caused or is responsible for. Personal Charges also include Personal Charges against an Owner’s Renters and/or Visitors. PART A - HOW COSTS WILL BE SHARED AND MONEY HANDLED ARTICLE VI FINANCES 6.01
One Share means 1/60th for each Interval (subject to reduction of the denominator by 10 for each Cottage less than six (6) Cottages that will comprise the Property. By way of example, the denominator will be reduced by 20 if only four (4) Cottages form part of the Property). (c) “Annual Fee” is the regular charge for each Interval. It will be for One Share of Association Expenses, as estimated in the Budget, plus late charges and interest if the Annual Fee is not paid when due, and all costs of collecting unpaid Annual Fees which include but are not limited to court costs and legal fees. (d) A “Special Charge” is an added charge as needed for each Interval. It will be for One Share of the amount of money needed to keep paying Association Expenses on a current basis, as estimated in a Supplemental Budget, plus late charges and interest if a Special Charge is not paid when due, and all collection costs on unpaid Special Charges. (e) “Personal Charges” means all expenses that result from the act or the failure to act of any Owner, Exchange User, or Occupant (except failure to pay any Annual Fees or Special Charge). Among other things, they include all: (i) extra services requested by an Owner, Exchange User or Occupant, including maid service and long distance telephone charges; (ii) late charges and interest on unpaid Personal Charges; (iii) collection costs on unpaid Personal Charges and costs of enforcing this Agreement and the Rules, including fines, court costs and legal fees; (iv) costs to repair any damage (other than ordinary wear and tear) caused by: (A) that Owner, Exchange User or Occupant; or (B) Renters, Visitors or other Occupants during the time that he is entitled to use; (v) costs of replacing Common Furnishings that are lost or missing; (vi) damage and injury to any other Owner, Occupant or the Association due to his/her violation of this Agreement or the Rules; and (vii) any advances made by the Association for any Owner, Exchange User or Occupant. Advances are costs incurred by the Association in: (A) doing what that Owner was required to (but did not) do; or (B) repairing or correcting any damage that person caused or is responsible for. Personal Charges also include Personal Charges against an Owner’s Renters and/or Visitors. PART A -