Assignment of Guaranties and Warranties. Developer, as assignor, hereby conditionally assigns, transfers and sets over to Owner, as assignee, all of its right, title and interest in and to all guarantees and warranties received by the Developer from contractors and suppliers in connection with the design, construction and development of the Project, provided that Developer shall be subrogated to the rights of the Owner with respect to any claims which have been guaranteed hereunder and satisfied by Developer pursuant hereto. Developer shall not take, and has not taken, any action or done anything which could limit the enforceability of such guarantees and warranties.
Appears in 4 contracts
Samples: Development Agreement, Development Agreement (Global Growth Trust, Inc.), Development Agreement (Global Growth Trust, Inc.)
