Retroactive assessment. If the Member fails to comply with subsection 4.11: [a] the Directors may, in their sole and absolute discretion, increase the Housing Charge, to be assessed retroactively to the effective date of the Member's failure to comply; and [b] the assessed amount shall be payable in full by the Member to the Co‑op immediately upon written notice to the Member.
Appears in 2 contracts
Sources: Occupancy Agreement, Occupancy Agreement
Retroactive assessment. If the Member fails to comply with subsection 4.11: [a] the Directors may, in their sole and absolute discretion, increase the Housing Charge, to be assessed retroactively to the effective date of the Member's failure to comply; and [b] the assessed amount shall be payable in full by the Member to the Co‑op Co-op immediately upon written notice to the Member.
Appears in 1 contract