Assignment by the Developer. (a) The Development Property, Lease Purchase Improvements, this Lease Purchase Agreement, and the right to receive any payments payable by the City and Guarantor hereunder shall not be sold nor assigned by the Developer without the express written consent of the City and Guarantor (which consent will not be unreasonably withheld), and certification by Developer that State and Federal Laws, including but not limited to federal securities laws have been complied with. Assignment is defined for this Article X to include, but not be limited to, third party financing arrangements or any other oral or written agreement or understanding with third parties not signatory to this Lease Purchase Agreement, which do or may convey or transfer any interest in the Development Property or Lease Purchase Improvements, or the benefits or the burdens of this Lease Purchase Agreement or the right to receive any payments payable under this Lease Purchase Agreement. Notwithstanding the foregoing, however, or any other provisions of this Lease Purchase Agreement, the Developer may pledge the Development Property, Lease Purchase Improvements and benefits under this Agreement as security in obtaining Developer’s Financing, and the City agrees that Developer may assign its interest under this Agreement for that limited purpose.
Assignment by the Developer. Council will require every Planning Agreement to provide that the Developer cannot assign its rights or obligations under the agreement nor have any dealing in relation to the land that is the subject of the agreement unless, in addition to other requirements of the agreement:
Assignment by the Developer. The rights, duties, and responsibilities of the Developer may be assigned only with the consent of the City Council, which will not be unreasonably withheld or unduly delayed.
