Subdivision Clause Samples

Subdivision. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of issued and outstanding Ordinary Shares is increased by a capitalization of Ordinary Shares, or by a subdivision of Ordinary Shares or other similar event, then, on the effective date of such share capitalization, subdivision or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the issued and outstanding Ordinary Shares. A rights offering to holders of the Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the “Fair Market Value” (as defined below) shall be deemed a capitalization of a number of Ordinary Shares equal to the product of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Ordinary Shares) and (ii) one (1) minus the quotient of (x) the price per Ordinary Share paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for the Ordinary Shares, in determining the price payable for Ordinary Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

Subdivision. Tenant acknowledges that the Project has been subdivided. Landlord reserves the right to further subdivide all or a portion of the buildings and Common Areas in the Project. ▇▇▇▇▇▇ agrees to execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to the circumstances resulting from a subdivision and any all maps in connection therewith. Notwithstanding anything to the contrary set forth in this Lease, the separate ownership of any buildings and/or Common Areas of the Project by an entity other than Landlord shall not affect the calculation of Project Expenses or Tenant's payment of Tenant's Share of Project Expenses.

Subdivision. Permit Mortgage Borrower to subdivide any Individual Property other than with respect to Unimproved Parcels in accordance with the terms of this Agreement or otherwise with the prior consent of Mezzanine Lender which consent shall not be unreasonably withheld, conditioned or delayed.

Subdivision. Landlord reserves the right to subdivide all or a portion of the buildings and Common Areas, so long as the same does not interfere with Tenant’s use of or access to the Premises or Tenant’s parking rights. Tenant agrees to execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to the circumstances resulting from a subdivision and any all maps in connection therewith, so long as the same does not increase Tenant’s obligations or decrease Tenant’s rights under this Lease. Notwithstanding anything to the contrary set forth in this Lease, the separate ownership of any buildings and/or Common Areas by an entity other than Landlord shall not affect the calculation of Direct Expenses or Tenant’s payment of Tenant’s Share of Direct Expenses.

Subdivision. Evidence satisfactory to Lender (including title endorsements) that the Land relating to each Individual Property constitutes a separate lot for conveyance and real estate tax assessment purposes.

Subdivision. Landlord reserves the right to subdivide all or a portion of the buildings and Common Areas. Tenant agrees to execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to the circumstances resulting from a subdivision and any all maps in connection therewith. Notwithstanding anything to the contrary set forth in this Lease, the separate ownership of any buildings and/or Common Areas by an entity other than Landlord shall not affect the calculation of Direct Expenses or Tenant’s payment of Tenant’s Share of Direct Expenses.

Subdivision. The subdivision of land reflected in the County PUD/Subdivision Approval, which was established pursuant to the Subdivision Governing Documents.

Subdivision. The Individual Properties located in Florida, New York, Oregon and Texas comply in all material respects with all applicable subdivision laws, ordinances and regulations.

Subdivision. The Parties acknowledge that the Property must be created as a conveyable parcel by re-subdivision of the existing subdivision where the Property is located. City shall cause the preparation of a subdivision application for the Property at its expense and seek re-subdivision of the Property. The Parties acknowledge that the ALTA Survey and Commitment cannot be provided until after recording of the subdivision plat contemplated by this Paragraph. As such, City agrees to complete the re-subdivision and have prepared a recordable document evidencing the creation of a conveyable parcel within sixty (60) days of the Effective Date. If City is unable to complete the re-subdivision within sixty (60) days, City shall notify Seller and Purchaser of the same in writing, and Purchaser shall have the right to: (a) extend such deadline for a reasonable period to the date requested by City (such request not to be unreasonably denied by Purchaser); or (b) terminate the Agreement by giving written notice thereof to the other Parties, in which case this Agreement will be terminated, and neither party shall have any further rights or obligations hereunder, except as otherwise provided herein. During the re-subdivision process certain changes may occur, including, but not limited to, the creation of certain easements on the lot or on any other lot to accommodate drainage requirements, landscaping, and installations for utility services for the subdivision, and other changes necessary to comply with the Pueblo Municipal Code which may not be foreseen at this time. Such changes shall be subject to approval by the Purchaser, which approval shall not be unreasonably withheld. Notwithstanding anything in this Agreement to the contrary, in the event City completes the subdivision contemplated in this Paragraph, and the transaction contemplated by this Agreement is not fully consummated, Purchaser shall have no further responsibility with respect to any subsequent re-subdivision of the Property.