Common use of Effect of Certificate of Completion Clause in Contracts

Effect of Certificate of Completion. Upon the issuance of Certificate of Completion by the Redevelopment Entity for the Project, the provisions of this Agreement shall no longer encumber the Project Site and accordingly, subject to the following proviso, Redeveloper shall have the right to transfer any interest to the Project Site, including any portion of the Project thereon, without any limitations set forth herein or otherwise, upon which transfer Redeveloper’s obligations hereunder (but only with respect to such transferred portion) shall be of no further force and effect; provided, however, that nothing in this sentence shall be deemed to abrogate the provisions of any other documents theretofore delivered pursuant to this Agreement with respect to such property, including, without limitation (and by of example only), any deeds (inclusive of restrictions therein), declarations, certifications, PILOT Agreements, etc. The Redevelopment Entity, at any time, and from time to time, after its issuance of a Certificate of Completion for the Project shall, within ten (10) business days following a written request by Redeveloper, execute and deliver to (a) Redeveloper and/or (b) a third party (e.g., prospective lender, purchaser, investor, tenant, etc.) designated by Redeveloper an instrument in which it affirms that the Certificate of Completion has been issued (and, accordingly, that the foregoing provisions of Section

Effect of Certificate of Completion. Upon the issuance of Certificate of Completion by the Redevelopment Entity for the Project, the provisions of this Agreement shall no longer encumber the Project Site and accordingly, subject to the following proviso, Redeveloper shall have the right to transfer any interest to the Project Site, including any portion of the Project thereon, without any limitations set forth herein or otherwise, upon which transfer Redeveloper’s obligations hereunder (but only with respect to such transferred portion) shall be of no further force and effect; provided, however, that nothing in this sentence shall be deemed to abrogate the provisions of any other documents theretofore delivered pursuant to this Agreement with respect to such property, including, without limitation (and by of example only), any deeds (inclusive of restrictions therein), declarations, certifications, PILOT Agreements, etc. The Redevelopment Entity, at any time, and from time to time, after its issuance of a Certificate of Completion for the Project shall, within ten thirty (1030) business days following a written request by Redeveloper, execute and deliver to (a) Redeveloper and/or (b) a third party (e.g., prospective lender, purchaser, investor, tenant, etc.) designated by Redeveloper an instrument in which it affirms that the Certificate of Completion has been issued (and, accordingly, that the foregoing provisions of SectionSection 10.3 and this Section 10.4 shall apply).

Effect of Certificate of Completion. Upon the issuance of Certificate of Completion by the Redevelopment Entity for the Project, the provisions of this Agreement shall no longer encumber the Project Site and accordingly, subject to the following proviso, Redeveloper shall have the right to transfer any interest to the Project SiteProject, including any portion of the Project thereon, without any limitations set forth herein or otherwise, upon which transfer Redeveloper’s obligations hereunder (but only with respect to such transferred portion) shall be of no further force and effect; provided, however, that nothing in this sentence shall be deemed to abrogate the provisions of any other documents theretofore delivered pursuant to this Agreement with respect to such property, including, without limitation (and by of example only), any deeds (inclusive of restrictions therein), declarations, certifications, or PILOT Agreements, etc. The Redevelopment Entity, at any time, and from time to time, after its issuance of a Certificate of Completion for the Project shall, within ten thirty (1030) business days following a written request by Redeveloper, execute and deliver to (a) Redeveloper and/or (b) a third party (e.g., prospective lender, purchaser, investor, tenant, etc.) designated by Redeveloper an instrument in which it affirms that the Certificate of Completion has been issued (and, accordingly, that the foregoing provisions of SectionSection 9.3 and this Section 9.4 shall apply).