Common use of Prohibition Against Speculative Investment Clause in Contracts

Prohibition Against Speculative Investment. Because of the importance of the Project to the general welfare of the community, Redeveloper represents and agrees that its acquisitions of the Township Properties conveyed to Redeveloper, and any Acquisition Parcels acquired by Redeveloper, and Redeveloper’s undertakings pursuant to this Redevelopment Agreement are, and will be used, for the purpose of the Redevelopment Project and redevelopment of the Project Site as provided herein, and not for speculation in land holding.

Prohibition Against Speculative Investment. Because of the importance of the Project to the general welfare of the community, Redeveloper represents and agrees that its acquisitions of the Township Properties Township-Owned Property, of the Designated Acquisition Parcels conveyed to Redeveloper, and any Acquisition Parcels acquired by Redeveloper, and Redeveloper’s undertakings pursuant to this Redevelopment Agreement are, and will be used, for the purpose of the Redevelopment Project and redevelopment of the Project Site Downtown Redevelopment Area as provided herein, and not for speculation in land holding.

Prohibition Against Speculative Investment. Because of the importance of the Project to the general welfare of the community, Redeveloper represents and agrees that its acquisitions of the Township Properties conveyed to Redeveloper, and any Acquisition Parcels acquired by Redeveloper, Property and Redeveloper’s undertakings pursuant to this Redevelopment Agreement are, and will be used, for the purpose of the Redevelopment Project and redevelopment of the Project Site Redevelopment Area as provided herein, and not for speculation in land holding.