Common use of Developer Owner Clause in Contracts

Developer Owner. The term “Developer Owner" or “Developer Owners” shall mean Obey Creek Ventures, LLC. individually and collectively, and any successor in title who acquires a Parcel in fee simple from a Developer Owner whereby the transferring Developer Owner expressly assigns all of its rights and obligations as Developer Owner under this Agreement to the Person acquiring the Parcel from the Developer Owner, which assignment shall be recorded in the Registry. Any other Person who acquires a Parcel in fee simple title from a Developer Owner shall be a “Parcel Owner” and not a “Developer Owner.”

Developer Owner. The term “Developer Owner" or “Developer Owners” shall mean Obey Creek Ventures, LLC. , individually and collectively, and any successor in title who acquires a Parcel in fee simple from a Developer Owner whereby the transferring Developer Owner expressly assigns all of its rights and obligations as Developer Owner under this Agreement to the Person acquiring the Parcel from the Developer Owner, which assignment shall be recorded in the Registry. Any other Person who acquires a Parcel in fee simple title from a Developer Owner shall be a “Parcel Owner” and not a “Developer Owner.”