Common use of Assignment and Dealings Clause in Contracts

Assignment and Dealings. 13.1 If, before this Agreement is registered on the relevant folios of the Register of Land, the Developer enters into an agreement with a third party (Incoming Party) to sell, transfer, assign or novate, encumber or similarly deal with its right, title or interest in the Land (if any) or rights or obligations under the terms of this Agreement (Transaction), the Developer may not complete that Transaction, unless before completion of the Transaction, the Developer:‌ (a) at no cost to Council, has first procured the execution by the Incoming Party of an agreement in favour of Council on the same terms as this Agreement as if the Incoming Party were a Party to this Agreement; and (b) satisfies Council that the Developer is not in breach of its obligations under this Agreement at the time of completion of the Transaction. 13.2 The Parties agree that clause 13.1 of this Agreement does not operate in each of the following circumstances: (a) where the Road Land has been dedicated to Council under clauses 6 and 8 of this Agreement; (b) the Transaction is by way of a mortgage or charge; and (c) if the Incoming Party (as that term is defined in clause 13.1 above) is acquiring an interest in the Land or part of the Land as a purchaser of one of more lots in a community scheme or a strata scheme (whether or not the community or strata scheme as the case may be, has been registered on the Register of Land) in which case the Developer may create and transfer that interest without requiring the Incoming Party to enter into an agreement with Council, and the interest so created and transferred will not be in breach of this Agreement.

Assignment and Dealings. 13.1 If, before this Agreement is registered on the relevant folios of the Register of Land, If the Developer enters into an agreement with a third party (Incoming Party) to sell, transfer, assign or novate, encumber or similarly deal with its right, title or interest in the Land (if any) or rights or obligations under the terms of this Agreement (Transaction), the Developer may not complete that Transaction, unless before completion of the Transaction, the Developer:‌Developer: (a) at no cost to Council, has first procured the execution by the Incoming Party of an agreement in favour of Council on the same terms as this Agreement as if the Incoming Party were a Party to this Agreement; and (b) satisfies Council that the Developer is not in breach of its obligations under this Agreement at the time of completion of the Transaction. 13.2 The Parties agree that clause 13.1 of this Agreement does not operate in each of the following circumstances: (a) where the Easement in Gross has been registered, Road Land has been dedicated to Council and Works undertaken under clauses 6 and 8 of this Agreement; (b) the Transaction is by way of a mortgage or charge; and (c) if the Incoming Party (as that term is defined in clause 13.1 above) is acquiring an interest in the Land or part of the Land as a purchaser of one of more lots in a community scheme or a strata scheme (whether or not the community or strata scheme as the case may be, has been registered on the Register of Land) in which case the Developer may create and transfer that interest without requiring the Incoming Party to enter into an agreement with Council, and the interest so created and transferred will not be in breach of this Agreement.

Assignment and Dealings. 13.1 If, before this Agreement is registered on the relevant folios of the Register of Land, the Developer enters into an agreement with a third party (Incoming Party) to sell, transfer, assign or novate, encumber or similarly deal with its right, title or interest in the Land (if any) or rights or obligations under the terms of this Agreement (Transaction), the Developer may not complete that Transaction, unless before completion of the Transaction, the Developer:‌Developer: (a) at no cost to Council, has first procured the execution by the Incoming Party of an agreement in favour of Council on the same terms as this Agreement as if the Incoming Party were a Party to this Agreement; and (b) satisfies Council that the Developer is not in breach of its obligations under this Agreement at the time of completion of the Transaction. 13.2 The Parties agree that clause 13.1 of this Agreement does not operate in each of the following circumstances: (a) where the Road Land has been dedicated to Council under clauses 6 and 8 of this Agreement; (b) the Transaction is by way of a mortgage or charge; and (c) if the Incoming Party (as that term is defined in clause 13.1 above) is acquiring an interest in the Land or part of the Land as a purchaser of one of more lots in a community scheme or a strata scheme (whether or not the community or strata scheme as the case may be, has been registered on the Register of Land) in which case the Developer may create and transfer that interest without requiring the Incoming Party to enter into an agreement with Council, and the interest so created and transferred will not be in breach of this Agreement.

Assignment and Dealings. 13.1 If, before this Agreement is registered on the relevant folios of the Register of Land, If the Developer enters into an agreement with a third party (Incoming Party) to sell, transfer, assign or novate, encumber or similarly deal with its right, title or interest in the Land (if any) or rights or obligations under the terms of this Agreement (Transaction), the Developer may not complete that Transaction, unless before completion of the Transaction, the Developer:‌Developer: (a) at no cost to Council, has first procured the execution by the Incoming Party of an agreement in favour of Council on the same terms as this Agreement as if the Incoming Party were a Party to this Agreement; and (b) satisfies Council that the Developer is not in breach of its obligations under this Agreement at the time of completion of the Transaction. 13.2 The Parties agree that clause 13.1 of this Agreement does not operate in each of the following circumstances: (a) where the Road Land has been dedicated to Council under clauses 6 and 8 of this Agreement;Agreement or a novation of this Agreement as may be required by Council. (b) the Transaction is by way of a mortgage or charge; and (c) subject to clauses 6.2 and 8.2, if the Incoming Party (as that term is defined in clause 13.1 above) is acquiring an interest in the Land or part of the Land as a purchaser of one of more lots in a community scheme or a strata scheme (whether or not the community or strata scheme as the case may be, has been registered on the Register of Land) in which case the Developer may create and transfer that interest without requiring the Incoming Party to enter into an agreement with Council, and the interest so created and transferred will not be in breach of this Agreement.