Common use of PROHIBITION AGAINST TRANSFER OF PROPERTY Clause in Contracts

PROHIBITION AGAINST TRANSFER OF PROPERTY. The Redeveloper has not made or created, and (except as permitted by Section 11) will not, prior to the completion of the Project as certified by the Agency, make or suffer to be made any sale, assignment, conveyance, lease or transfer in any other form of or with respect to this Agreement or the Property, or any part thereof or any interest therein, or contract or agree to do any of the same, without the prior written approval of the agency, provided that Redeveloper may assign or transfer to an entity which has the substantially similar ownership as Redeveloper. For condominium projects: Further provided, that the foregoing shall not apply to the agreement to sell, sale, or convey any condominium units for which an occupancy permit has been issued by the City, to the Declaration of Condominium and Plat or the transfer of title to the Owner’s Association.

PROHIBITION AGAINST TRANSFER OF PROPERTY. The Redeveloper Buyer has not made or created, and (except as permitted by Section 11) will not, prior to the completion of the Project as certified by the AgencySeller, make or suffer to be made any sale, assignment, conveyance, lease or transfer in any other form of or with respect to this Agreement or the Property, or any part thereof or any interest therein, or contract or agree to do any of the same, without the prior written approval of the agencySeller, provided that Redeveloper Buyer may assign or transfer to an entity which has the substantially similar ownership as RedeveloperBuyer. For condominium projects: Further provided, that the foregoing shall not apply to the agreement to sell, sale, or convey any condominium units for which an occupancy permit has been issued by the City, to the Declaration of Condominium and Plat or the transfer of title to the Owner’s Association.

PROHIBITION AGAINST TRANSFER OF PROPERTY. The Redeveloper Buyer has not made or created, and (except as permitted by Section 11) will not, prior to the completion of the Project as certified by the AgencySeller, make or suffer to be made any sale, assignment, conveyance, lease or transfer in any other form of or with respect to this Agreement or the Property, or any part thereof or any interest therein, or contract or agree to do any of the same, without the prior written approval of the agencySeller, provided that Redeveloper Buyer may assign or transfer to an entity which has the substantially similar ownership as RedeveloperBuyer. For condominium projects: Further provided, that the foregoing shall not apply to the agreement to sell, sale, or convey any condominium units for which an occupancy permit has been issued by the CitySeller, to the Declaration of Condominium and Plat or the transfer of title to the Owner’s Association.