Common use of PRESERVATION OF CONDOMINIUM Clause in Contracts

PRESERVATION OF CONDOMINIUM. The Borrower will do, and will cause the Condominium Borrower to do, all things necessary to preserve and to keep unimpaired its material rights, powers and privileges under the Condominium Property Documents and to prevent the termination or expiration of the Condominium Property Documents, or the withdrawal of the Condominium Property from a condominium form of ownership under applicable law, to the end that the Condominium Borrower may enjoy all of the material rights granted to it as a party to the Condominium Property Documents.