Common use of Zoning and Land Use Clause in Contracts

Zoning and Land Use. Except as disclosed in Section 3.14(i) of the Disclosure Schedule, the land for each Development Activity at each Resort (as defined below) has been zoned for its intended use in accordance with its Project Plan and all requirements for that zoning have been met, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as disclosed in Section 3.14(i) of the Disclosure Schedule, the land for each Development Activity has been subdivided for its intended use in accordance with its Project Plan and each subdivided plot constitutes its own separate tax lot, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as disclosed in Section 3.14(i) of the Disclosure Schedule, all archeological, soil, geotechnical, traffic, environmental and similar studies have been completed and to the knowledge of the Company reveal no facts or conditions which, individually or in the aggregate, are reasonably expected to have a Material Adverse Effect on the Development Activities.