Common use of Effectuation of Certain Permitted Transfers Clause in Contracts

Effectuation of Certain Permitted Transfers. ‌ (a) No Transfer of this Agreement permitted pursuant to Section 8.4 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 applicable Developer under this Agreement and agree to be subject to the conditions and restrictions to which such 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. (b) 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. (c) In the absence of specific written agreement by the County, no such Transfer, assignment or approval by the County shall be deemed to relieve either of the Developer or any other party from any obligations under this Agreement.

Effectuation of Certain Permitted Transfers. ‌ (a) No Transfer of this Agreement permitted pursuant to Section 8.4 10.4 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 City and in form recordable among the land records, shall expressly assume the obligations of the applicable Developer under this Agreement and agree to be subject to the conditions and restrictions to which such 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. (b) . 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 City 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. (cb) In the absence of specific written agreement by the CountyCity, no such Transfer, assignment or approval by the County City shall be deemed to relieve either of the Developer or any other party from any obligations under this Agreement.

Effectuation of Certain Permitted Transfers. ‌ (a) No Transfer of this Agreement permitted pursuant to Section 8.4 shall 7.4 will 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 recordsOfficial Records, shall expressly assume assumes the obligations of the applicable Developer under this Agreement and agree agrees to be subject to the conditions and restrictions to which such 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. (b) . 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 will 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. (cb) In the absence of specific written agreement by the County, no such Transfer, assignment or approval by the County shall will be deemed to relieve either of the Developer or any other party from any obligations under this Agreement.

Effectuation of Certain Permitted Transfers. ‌ (a) No Transfer of this Agreement permitted pursuant to Section 8.4 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 land recordsOfficial Records, shall expressly assume the obligations of the applicable Developer under this Agreement and shall agree to be subject to the conditions and restrictions to which such 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. (b) . 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. (cb) In the absence of specific written agreement by the County, no such Transfer, assignment or approval by the County shall be deemed to relieve either of the Developer or any other party from any obligations under this Agreement.