Sentence examples for viable cooperative from inspiring English sources

"I believe that the court is saying that the offering plan contains an implied promise on the part of the sponsor to sell enough apartments to create a fully viable cooperative or condominium," Mr. Luxemburg said.

The sponsor took the case to the Court of Appeals, which ruled yesterday that "the sponsor undertook a duty in good faith to timely sell so many shares in the building as necessary to create a fully viable cooperative".

Some lawyers say that the court has determined that sponsors must sell enough apartments to create a "viable cooperative" -- a term it left undefined -- within a reasonable time after the conversion.

Mr. Weinstein of the Council of New York Cooperatives and Condominiums noted that the state's highest court recently indicated that sponsors may have an enforceable contractual obligation to sell as many shares as are necessary to create a "fully viable cooperative".

Stuart M. Saft and Marc Luxemburg, the chairman and president, respectively, of the Council of New York Cooperatives and Condominiums, both say the Court of Appeals has definitively ruled that a sponsor must sell enough apartments to create what the court called a "fully viable" cooperative within a reasonable time.

This in turn would have made ongoing peacemaking a necessity, thus limiting the size of viable cooperative units and the scope of cooperative projects, as well as imposing significant costs through the devotion of time and energy to peacemaking activities.

In addition to meeting the basic eligibility or selection criteria (discussed below) the inclusion of the local authorities will also have to be verified against whether there is synergy with other planning factors, such as the presence of viable cooperatives and market outlets.

"And control of a cooperative by nonsponsor tenant shareholders is certainly one of the key elements of a viable co-op," Mr. Weinstein said.

A court has given them a year's grace to prove the cooperative viable.

Data-centric MAC, where existing protocols are tuned/modified for optimal performance, represents a viable alternative to cooperative MAC and, therefore, has gained considerable attention recently.

Technical competency was necessary to make the agricultural production and administration of cooperatives viable.