Future Assumption; Covenant to Provide Notice, Assumption Agreement, Tax Allocation Promissory Note and PILOT Agreement Sample Clauses

Future Assumption; Covenant to Provide Notice, Assumption Agreement, Tax Allocation Promissory Note and PILOT Agreement. (a) Should the Regents or any successor at any time or from time to time during the term of the South OPA, either (i) engage in any use that is not in furtherance of UCSF Purposes (other than customary retail uses incidental to the Regents’ other permitted uses, including, but not limited to, use as a pharmacy, for sale of sundries, or for casual dining establishments), or (ii) Transfer all or any portion of the Transferred Property to any entity for any use that is not in furtherance of UCSF Purposes (other than customary retail uses incidental to the Regents’ other permitted uses, including, but not limited to, use as a pharmacy, for sale of sundries, or for casual dining establishments) (the events described in 3.2(a)(i) and (ii) are referred to herein as a “Triggering Use” or “Triggering Transfer”), then the Redevelopment Plan, South OPA and other Plan Documents shall “spring back” with respect to the Transferred Property and once again automatically apply to, and be binding upon and benefit, the Transferred Property (or the relevant portion thereof), and as of the date of the Triggering Use or Triggering Transfer the Regents or its successor owner of the Transferred Property (or relevant portion thereof), as applicable, shall be deemed to have assumed and agreed to be bound by and perform, as a direct obligation of such party to Successor Agency, each and all of the Transferred Obligations under the AA&R Agreement (as applicable to the relevant portion of the Transferred Property). The Regents, or its successor, shall provide at least ten (10) business days’ prior written notice to the Successor Agency and the Primary Developer prior to the effectiveness of any Triggering Use or Triggering Transfer. The Regents and the Successor Agency shall be subject to the provisions Sections 14.1, 14.2 and 14.7 of the South OPA in connection with any Triggering Transfer. Upon the written request by the Successor Agency or Primary Developer and as a condition precedent to the effectiveness of any Triggering Transfer described in this Paragraph 3.2 or the commencement of any Triggering Use, the Regents or its successor shall:
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Related to Future Assumption; Covenant to Provide Notice, Assumption Agreement, Tax Allocation Promissory Note and PILOT Agreement

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  • Interim Extension Amendment a. Prior to or on the expiration date of this Contract, the Parties agree that this Contract can be extended as provided under this Section.

  • Agreement to Purchase and Sell On the terms and subject to the conditions set forth in this Agreement, each Originator, severally and for itself, agrees to sell to the Buyer, and the Buyer agrees to purchase from such Originator, from time to time on or after the Closing Date, but before the Purchase and Sale Termination Date (as defined in Section 1.4), all of such Originator’s right, title and interest in and to:

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