Excluded Encumbrances and Transfers. The foregoing restrictions on assignment, transfer and conveyance and the restriction in this Article V shall not apply to (i) any security interest granted to secure indebtedness to any construction or permanent lender, (ii) the sale, rental and leasing of portions of the Project Site (not to exceed fifty percent [50%] of the Project Site in the aggregate) for the uses permitted under the terms of this Agreement (but the restrictions on assignment of rights and/or obligations hereunder as set forth in Section 5.01 hereof shall still apply in such circumstances); or (iii) any transfer of the Property and/or some or all of the rights and/or obligations under this Agreement to a person or entity that is controlled by Developer, which Developer controls, or that is under common control with Developer (an "Affiliate"), provided that any such Affiliate shall have a net worth which is equal to or greater than that of the Developer immediately prior to such transfer. Developer hereby agrees to provide the City with written notice of any transfer permitted by this Section 5.03 within ten (10) days after such transfer.
Excluded Encumbrances and Transfers. The foregoing restrictions in this Article VI shall not apply to (a) any security interest granted to secure indebtedness to any construction or permanent lender, (b) the rental and leasing of portions of the Project in the ordinary course of Developer's business for the uses permitted under the terms of this Agreement; (c) any transfer of some or all of the rights and/or obligations under this Agreement to a person or entity that is controlled by Developer, which Developer controls, or that is under common control with Developer (an "Affiliate"). Developer hereby agrees to provide the City with written notice of any assignment or transfer permitted by this Section 6.03 within fifteen (15) days after such assignment or transfer.
Excluded Encumbrances and Transfers. The foregoing restrictions in this Article V shall not apply to (i) any security interest granted to secure indebtedness to any construction or permanent lender, (ii) the rental and leasing of portions of the Project Site in the ordinary course of Developer's business for the uses permitted under the terms of this Agreement; (iii) any transfer of some or all of the rights and/or obligations under this Agreement to a person or entity that is controlled by Developer, which Developer controls, or that is under common control with Developer (an "Affiliate"), provided that any such Affiliate shall have a net worth which is equal to or greater than that of the Developer immediately prior to such transfer; or (iv) transfer of the Property. Developer hereby agrees to provide the City with written notice of any assignment or transfer permitted by this Section 5.03 within ten (10) days after such assignment or transfer.
Excluded Encumbrances and Transfers. The foregoing restrictions on assignment, transfer and conveyance in this Article VI shall not apply to (i) any security interest granted to secure indebtedness to any construction or permanent lender; (ii) rental and leasing of portions of the District in the normal course of Developer's business to businesses whose operations fall within the uses permitted under the terms of this Agreement (“Business Operators”); (iii) the sale, conveyance or other transfer of title of portions of the District in the normal course of Developer's business to Business Operators, provided however that any such sales, transfers or conveyances shall not exceed fifty percent (50%) of the land area within the District in the aggregate without approval of the City as set forth in Section 6.01 hereof; or (iv) any transfer of the District and/or some or all of the rights and/or obligations under this Agreement to a person or entity that is controlled by Developer, which Developer controls, or that is under common control with Developer (an "Affiliate"), provided that any such Affiliate shall have a net worth which is equal to or greater than that of the Developer immediately prior to such transfer. Developer hereby agrees to provide the City with written notice of any transfer permitted by this Section 6.03 within ten (10) days after such transfer.
Excluded Encumbrances and Transfers. The foregoing restrictions on assignment, transfer and conveyance and the restrictions in this Article VI shall not apply to (i) any security interest granted to secure indebtedness to any construction or permanent lender, (ii) the rental and leasing of portions of the Project Site for the uses permitted under the terms of this Agreement; or (iii) any assignment/transfer to an Affiliate.
Excluded Encumbrances and Transfers. The foregoing restrictions on assignment, transfer and conveyance and the restriction in this Article VI shall not apply to (a) the transfer of that portion of the Project Area that will be owned and operated by the Museum Owner, (b) the transfer of that portion of the Project Area that will be owned and operated by the Residential Owner (for both the Phase 1 and Phase 2 Residential Units); (c) any security interest granted to secure indebtedness to any construction or permanent lender, (d) rental and leasing of portions of the Project Area in the normal course of Developer's business to Store Operators for the uses permitted under the terms of this Agreement, (e) the sale, conveyance or other transfer of title of portions of the Project Area in the normal course of Developer's business to Store Operators for the uses permitted under the terms of this Agreement, provided however that any such sales, transfers or conveyances shall not exceed fifty percent (50%) of the land area in the Project Area in the aggregate without approval of the City as set forth in Section 6.01 hereof; or
Excluded Encumbrances and Transfers. The foregoing restrictions on assignment, transfer and conveyance and the restriction in this Article VI shall not apply to (a) the transfer of that portion of the Project Area that will be owned and operated by the Museum Owner, (b) the transfer of that portion of the Project Area that will be owned and operated by the Residential Owner (for the Phase 1 Residential Units) and the transfer of that portion of the Project Area that will be owned and operated by a Person with similar qualifications, experience and financial responsibility to that of the Residential Owner (for the Phase 2 Residential Units);
