Assignment and Transfer Limited Sample Clauses

Assignment and Transfer Limited. The water and wastewater system capacity allotment reserved by DEVELOPER under Section 6.1 herein shall not be assigned, transferred, leased, encumbered, or disposed of in any manner by DEVELOPER, unless prior approval is granted by the City, which approval shall be in the form of a new Utility Agreement based on current adopted ordinances, rules, and regulations. 8.4.1 DEVELOPER has obtained the prior written consent of CITY to such an assignment, sale or disposition, or 8.4.2 The assignment is in direct connection with a bona fide sale of all of the Property to which the system capacity reserve relates, and CITY is notified in writing of such assignment and has consented to same. CITY will not unreasonably withhold its consent to an assignment made in direct connection with a bona fide sale of all of the Property nor any other assignment made within seven (7) years of the date of this Agreement, provided the Assignee shall: 8.4.3 If CITY shall so require, enter into a new Service Agreement with CITY whereby CITY shall reserve for such Assignee the unused capacity reserved for the Assignor hereunder in accordance with the terms and conditions of CITY’s Ordinances, resolutions and Rules & Regulations then in effect; or 8.4.4 If a new Service Agreement is not entered into between such Assignee and CITY, assume all of the duties and obligations of the Assignor under this Agreement; and 8.4.5 Pay all of CITY’s engineering, legal, administrative and other professional fees and costs incurred in connection with this Agreement, and place an acceptable deposit for such new Agreement or Assignment, as applicable; and, 8.4.6 In all instances the DEVELOPER and any Assignee shall provide to CITY, at CITY’s request, copies of all documents and such other information pertaining to or affecting such transfer as CITY shall reasonably request. Any reservation of capacity, however, shall be considered security for the payment of all fees and charges hereunder and the compliance with this Agreement by DEVELOPER, its successors and assigns.