Common use of Agreement Runs with the Land Clause in Contracts

Agreement Runs with the Land. Owner may assign or transfer its duties and obligations under this Agreement to another entity, provided such entity is the legal and equitable fee owner or lessee of the Property (“Transferee”). Owner acknowledges that the Project Approvals are dependent on this Agreement, and that any party that wishes to develop some or all of the Project on the Property must assume all of Owner’s rights and obligations under this Agreement. As provided in Section 9.2, this Agreement runs with the land and any Transferee will be bound by all of the terms and conditions of this Agreement.

Agreement Runs with the Land. Property Owner may assign or transfer its duties and obligations under this Agreement to another entity, provided such entity is the legal and equitable fee owner or lessee of the Property (“Transferee”). Owner acknowledges that the Project Approvals are dependent on this Agreement, and that any party that wishes to develop some or all of the Project on the Property must assume all of Owner’s rights and obligations under this Agreement. As provided in Section 9.2, this Agreement runs with the land and any Transferee will be bound by all of the terms and conditions of this Agreement.