Common use of Condominium Units Clause in Contracts

Condominium Units. Solely with respect to REO Properties which are condominium units, neither the Sellers nor any Affiliates are a “sponsor” or a nominee of a “sponsor” under any plan of condominium organization affecting the unit and the ownership and sale of any condominium unit will not violate any federal, state or local law or regulation regarding condominiums or require registration, qualification or similar action under such law or regulation.

Condominium Units. Solely with respect to REO Properties which are condominium units, neither the Sellers nor no Seller or any Affiliates are Affiliate is a “"sponsor” " or a nominee of a “"sponsor” " under any plan of condominium organization affecting the unit and the ownership and sale of any condominium unit will not violate any federal, state or local law or regulation regarding condominiums or require registration, qualification or similar action under such law or regulation.