Effectuation of Certain Permitted Transfers. (a) No Transfer of this Agreement permitted pursuant to Section 6.4 shall be effective unless, at the time of the Transfer, the person or entity to which such Transfer is made, by an instrument in writing prepared by the County and in form recordable among the Official Records, shall expressly assume the obligations of the Developer under this Agreement and shall agree to be subject to the conditions and restrictions to which the Developer is subject arising during the term of this Agreement, to the fullest extent that such obligations are applicable to the particular portion of or interest in the Development conveyed in such Transfer. Anything to the contrary notwithstanding, the holder of a Security Financing Interest whose interest shall have been acquired by, through or under a Security Financing Interest or shall have been derived immediately from any holder thereof shall not be required to give to County such written assumption until such holder or other person is in possession of the Property or entitled to possession thereof pursuant to enforcement of the Security Financing Interest.
Effectuation of Certain Permitted Transfers. For a transfer specified in Section 6.5(a) to constitute a Permitted Transfer, the following conditions must be satisfied:
Effectuation of Certain Permitted Transfers. 22 Section 6.6 Other Transfers with County Consent. 23 ARTICLE 7. DEFAULT AND REMEDIES 23 Section 7.1 General Applicability. 23 Section 7.2 No Fault of Parties. 23 Section 7.3 Fault of County. 23 Section 7.4 Fault of Developer. 24
Effectuation of Certain Permitted Transfers. No Transfer of the nature described in Section 9.3(c) through (l) shall be effective unless and until the entity to which such Transfer is made, by instrument in writing satisfactory to the Executive Director and in a form recordable among the public records, shall, for itself and its successors and assigns, and particularly for the benefit of the CRA, expressly assume all of the obligations of Developer under this Lease and agree to be subject to all conditions and restrictions to which Developer is subject; provided, however, that any Lender, Leasehold Mortgagee, Lender transferee shall not be required to assume any personal liability under this Lease with respect to any matter arising prior to or subsequent to the period of such transferee’s actual ownership of the leasehold estate created by this Lease (it being understood, nevertheless, that the absence of any such liability for such matters shall not impair, impede or prejudice any other right or remedy available to the CRA for default by Developer); and provided further, that the fact that any such transferee of, or any other successor in interest whatsoever to, the leasehold estate in the Leased Property or the Developer Improvements, or any part thereof, shall whatever the reason, not assume such obligations or so agree, shall not (unless and only to the extent otherwise expressly provided in this Lease or agreed to in writing by the CRA) relieve or except such transferee or successor of or from such obligations, conditions or restrictions, or deprive or limit the CRA of or with respect to any rights, remedies or controls with respect to the leasehold estate in the Leased Property or the construction of the Developer Improvements.
Effectuation of Certain Permitted Transfers. 34 Section 7.6 Other Transfers with City Consent 35 Section 7.7 Termination of Limitations on Transfers 35 ARTICLE 8. DEFAULT AND REMEDIES 35 Section 8.1 General Applicability 35 Section 8.2 No Fault of Parties 35 Section 8.3 Fault of City 36 Section 8.4 Fault of Developer 36 Section 8.5 Notice and Cure Period Regarding Defaults 37 Section 8.6 Remedies 38 Section 8.7 Right to Cure at Developer's Expense 39 Section 8.8 Project Documents 39 Section 8.9 Rights of Mortgagees 39 Section 8.10 Remedies Cumulative 39
Effectuation of Certain Permitted Transfers. Other than as permitted in Section 7.4, no Transfer of a direct interest in this Agreement shall be permitted unless, at the time of the Transfer, the person or entity to which such Transfer is made, by an agreement reasonably satisfactory to the City and in form recordable among the land records, expressly agrees to perform and observe, from and after the date of the Transfer, the obligations, terms and conditions of this Agreement; provided, however, that no such transferee shall be liable for the failure of its predecessor to perform any such obligation. The City shall grant or deny approval of a proposed Transfer within thirty (30) days of receipt by the City of the Developer's request for approval of a Transfer, which request shall include evidence of the proposed transferee's business expertise and financial capacity. Failure by the City to approve or disapprove the proposed Transfer within thirty (30) days after receipt of the Developer's written request shall be deemed to be approval of the proposed Transfer by the City.
Effectuation of Certain Permitted Transfers. No Transfer of this Agreement permitted pursuant to Section 5.4 shall be effective unless, at the time of the Transfer, the person or entity to which such Transfer is made, by an instrument in writing prepared by the County and in form recordable among the land records, shall expressly assume the obligations of the Developer under this Agreement and agree to be subject to the conditions and restrictions to which the Developer is subject arising during this Agreement, to the fullest extent that such obligations are applicable to the particular portion of, or interest in, the Development conveyed in such Transfer. Anything to the contrary notwithstanding, the holder of a Security Financing Interest whose interest shall have been acquired by, through or under a Security Financing Interest shall not be required to give to County such written assumption until such holder or other person is in possession of the Property or entitled to possession thereof pursuant to enforcement of the Security Financing Interest. In the absence of specific written agreement by the County, no such Transfer, assignment or approval by the County shall be deemed to relieve the Developer or any other party from any obligations under this Agreement.
Effectuation of Certain Permitted Transfers. No Transfer of this Agreement, or of the Development of a portion thereof, permitted pursuant to Section 7.4 (other than a Transfer pursuant to a Security Financing Interest under Section 7.4(a) or (b)) or Section
Effectuation of Certain Permitted Transfers. (a) All Transfers of this Agreement permitted pursuant to Section 6.4 and Section 6.5 shall be effective if at the time of the Transfer, the person or entity to which such Transfer is made, by an instrument in writing prepared by the City and in form recordable among the land records, expressly assumes the obligations of Developer under this Agreement and the Dealership Operating Covenant and agrees to be subject to the conditions and restrictions to which Developer is subject arising during this Agreement, to the fullest extent that such obligations are applicable to the particular portion of or interest in the Development conveyed in such Transfer. Anything to the contrary notwithstanding, the holder of a Security Financing Interest whose interest shall have been acquired by, through or under a Security Financing Interest or shall have been derived immediately from any holder thereof shall not be required to give to City such written assumption until such holder or other person is in possession of the Dealership Development Parcel or the Swap Parcel or entitled to possession thereof pursuant to enforcement of the Security Financing Interest.
Effectuation of Certain Permitted Transfers. (a) All Transfers under this Agreement permitted pursuant to Sections 2.1,
