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Payment to lessor

(3)

The corporation shall remit to the lessor, from the contributions collected from the

owners under subsection (2), the amounts to which the lessor is entitled under the provisions of

the leasehold interest affecting the property. 1998, c. 19, s. 171 (3).

Consent of lessor for termination

172.

A leasehold condominium corporation shall not register a notice of termination under

section 122 or 123 or sell the property or a part of the common elements under section 124 unless

the lessor has consented to and executed the notice or the agreement of purchase and sale, as the

case may be. 1998, c. 19, s. 172.

Termination by lessor

173. (1)

The lessor shall not terminate a leasehold interest in a unit in a leasehold

condominium corporation unless the lessor has been granted an order terminating the leasehold

interests in all of the units. 1998, c. 19, s. 173 (1).

Application

(2)

The lessor may make an application to the Superior Court of Justice for an order

terminating all of the leasehold interests, if a leasehold condominium corporation,

(a) has failed to remit to the lessor the amounts to which the lessor is entitled under the

provisions of the leasehold interest affecting the property; or

(b) has failed to comply with a court order. 1998, c. 19, s. 173 (2); 2000, c. 26, Sched. B,

s. 7 (7).

Grounds for order

(3)

On an application, the court may make an order if it is satisfied that the order is just

and equitable, having regard to the scheme and intent of this Act and the interests of all persons

that would be affected by the order. 1998, c. 19, s. 173 (3).

Contents of order

(4)

The order may provide that all of the leasehold interests are terminated subject to the

conditions set out in the order or may contain any other provision that the court considers

appropriate in the circumstances. 1998, c. 19, s. 173 (4).

Registration of order

(5)

If the court makes an order terminating all of the leasehold interests, the lessor shall

register the order. 1998, c. 19, s. 173 (5).

Expiration of leasehold interests

174. (1)

At least five years before the end of the term of the leasehold interests in the units

in a leasehold condominium corporation, the lessor shall give the corporation,

(a) a written notice of intention to renew all the leasehold interests that sets out the

provisions applicable to the renewal; or

(b) a written notice of intention not to renew all the leasehold interests. 1998, c. 19,

s. 174 (1).

Term of renewal

(2)

A renewal of the leasehold interests shall be for at least 10 years or the greater term

specified in the notice. 1998, c. 19, s. 174 (2).