Common use of Assignments by Developer Clause in Contracts

Assignments by Developer. The rights, duties and obligations hereunder of Developer may not be assigned, in whole or in part, to another entity, without the prior approval of the City's governing body, which approval may be granted or withheld in its sole discretion. Any proposed assignee shall, by instrument in writing, for itself and its successors and assigns, and expressly for the benefit of the City, assume all of the obligations of Developer under this Agreement and agree to be subject to all the conditions and restrictions to which Developer is subject (or, in the event the transfer is of or relates to only a portion of the Project, then such obligations, conditions and restrictions to the extent that they relate to such portion). Developer (and any guarantor of Developer) shall not be relieved from any obligations set forth herein unless and until the City specifically agrees to release Developer (and/or any guarantor of Developer). Xxxxxxxxx agrees, at Xxxxxxxxx’s cost, to promptly record all assignments in the office of the Department of Records and Tax Administration of Xxxxxxx County, Kansas, in a timely manner following the execution of such agreements.

Assignments by Developer. The rights, duties and obligations hereunder of Developer may not be assigned, in whole or in part, to another entity, without the prior approval of the City's governing body, which approval may be granted or withheld in its sole discretion. Any proposed assignee shall, by instrument in writing, for itself and its successors and assigns, and expressly for the benefit of the City, assume all of the obligations of Developer under this Agreement and agree to be subject to all the conditions and restrictions to which Developer is subject (or, in the event the transfer is of or relates to only a portion of the Project, then such obligations, conditions and restrictions to the extent that they relate to such portion). Developer (and any guarantor of Developer) shall not be relieved from any obligations set forth herein unless and until the City specifically agrees to release Developer (and/or any guarantor of Developer). Xxxxxxxxx Developer agrees, at XxxxxxxxxDeveloper’s cost, to promptly record all assignments in the office of the Department of Records and Tax Administration of Xxxxxxx County, Kansas, in a timely manner following the execution of such agreements.