Common use of Assignment by the Purchaser Clause in Contracts

Assignment by the Purchaser. 13.1. The Purchaser covenants and warrants that it is not purchasing the Property for the purpose of land speculation. The Purchaser shall not re-sell, transfer, subdivide, assign or otherwise dispose of its right, title, interest or equity in or to the Property, or any part thereof, without first obtaining the written consent of the Village, which may be arbitrarily withheld by the Village. Any such consent shall be subject to the parties entering into an assignment agreement with the third party satisfactory to the Village, which shall include a term stating that notwithstanding any assignment or transfer, the Purchaser shall remain liable to the Village for the fulfillment of the terms and conditions set out in this Agreement.

Assignment by the Purchaser. 13.118.1. The Purchaser covenants and warrants that it is not purchasing the Property for the purpose of land speculation. The Purchaser shall not re-sell, transfer, subdivide, assign or otherwise dispose of its right, title, interest or equity in or to the Property, or any part thereof, without first obtaining the written consent of the Village, which may be arbitrarily withheld by the Village. Any such consent shall be subject to the parties entering into an assignment agreement with the third party satisfactory to the Village, which shall include a term stating that notwithstanding any assignment or transfer, the Purchaser shall remain liable to the Village for the fulfillment of the terms and conditions set out in this Agreement.