Ownership Merger definition

Ownership Merger means and refers to the merger of ownership interests of any two or more of the Phases such that each unit owner in the merged Phases shall have appurtenant thereto an undivided percentage ownership interest in the common elements of the Merged Project.

Examples of Ownership Merger in a sentence

• The term "thirty-five percent (35%) of the owners" herein means the owners of units to which are appurtenant thirty-five percent (35%) of the common interests as established by the Declaration, or, in the event of an ownership merger of the Project with an additional phase or phases, as set forth in the Certificate of Ownership Merger, as provided in the Declaration of Merger referred to in Section S of the Declaration.

• Voting shall be on a percentage basis with the percentage of the total vote to which each unit is entitled being the same as the percentage of the common interests assigned to such unit in the Declaration, or, in the event of an ownership merger of the Project with an additional phase or phases, as set forth in the Certificate of Ownership Merger, as provided in the Declaration of Merger referred to in Section S of the Declaration.

• The recordation of one or more Certificates of Ownership Merger described in this Paragraph 5 shall be conclusive evidence that Developer has elected to effect an ownership merger or mergers of such Phases.

• The unit owners in one Phase shall not be obligated to pay any outstanding debts, expenses, costs or other obligations of the unit owners in any other Phase as of the Administrative Merger Date or the Ownership Merger Date, as the case may be.

• If ownership merger of all of the Phases is not effected pursuant to the foregoing provisions prior to December 31, 2027 (the "Ownership Merger Expiration Date"), the right of Developer to effect any such merger shall terminate automatically on the Ownership Merger Expiration Date.

• If ownership merger of all of the Phases is not effected pursuant to the foregoing provisions prior to December 31, 2029 (the "Ownership Merger Expiration Date"), the right of Developer to effect any such merger shall terminate automatically on the Ownership Merger Expiration Date.

• Xxxxxxx, Vice President Plan of Ownership, Merger and Name Change (the "Plan") of Mapico, Inc., a Delaware corporation ("Mapico"), with and into Rockwood Industries, Inc., a Delaware corporation ("Rockwood"), and name change to Xxxxxxx Pigments, Inc.

• Voting shall be on a percentage basis with the percentage of the total vote to which each unit is entitled being the same as thepercentage of the common interests assigned to such unit in the Declaration, or, in the event of an ownership merger of the Project with an additional phase or phases, as set forth in the Certificate of Ownership Merger, as provided in the Declaration of Merger referred to in Section S of the Declaration.

• This may have an impact on various CAP codes that contain staff who volunteer to assist DETR.

• Common Ownership Merger (COM) – tabledShort-Term Rentals -- Mr. McLucas provided a planning document from Lancaster County for consideration and discussion tonight.Short-term rentals have become a problem for municipalities to regulate.