Purpose of Restrictions on Transfer. This Agreement is entered into for the purpose of providing the Borrower with the AHIF Loan to help facilitate the acquisition, construction, renovation, and operation of the Property by the Borrower or its successors or permitted assigns in accordance with the terms of this Agreement and the other AHIF Loan Documents. The qualifications and identity of APAH and the Borrower or its successors or permitted assigns, as approved by the County Board, is of particular concern to the County Board, in view of:
(1) the importance of the development and continued use of the Property as an affordable housing project to the general welfare of the community;
(2) the AHIF program funds that have been made available by the County Board for the purpose of making such development and continued use possible;
(3) the reliance by the County Board upon the unique qualifications and ability of APAH to serve as the catalyst for the development and the continued use of the Property and upon the continuing interest which the Borrower will have in the Property to assure the quality of the use, operation, and maintenance deemed critical by the County Board in the development and continued use of the Property as an affordable housing development;
(4) the fact that a change in ownership or control of the owner of the Property, or of a substantial part thereof, or any other act or transaction involving or resulting in a significant change in ownership or with respect to the identity of the parties in control of the Borrower or the degree thereof, is for practical purposes a transfer or disposition of the Property; and
(5) the importance to the County Board of the standards of use, operation, and maintenance of the Property. It is because of the qualifications and identity of APAH and the Borrower that the County Board is entering into this Agreement and that Transfers are permitted only as provided in this Agreement.
Purpose of Restrictions on Transfer. This Agreement is entered into for the purpose of providing the Borrower with the AHIF Loan to help facilitate the renovation, and operation of the Property by the Borrower or its successors or assigns in accordance with the terms of this Agreement and the other AHIF Loan Documents. The qualifications and identity of WHDC and the Borrower or its successors or assigns, as approved by the County Staff, is of particular concern to the County Board, in view of:
(1) the importance of the development and continued use of the Property as an affordable housing project to the general welfare of the community;
(2) the AHIF program funds that have been made available by the County Board for the purpose of making such development and continued use possible;
(3) the reliance by the County Board upon the unique qualifications and ability of WHDC to serve as the catalyst for the development and the continued use of the Property and upon the continuing interest which the Borrower will have in the Property to assure the quality of the use, operation, and maintenance deemed critical by the County Board in the development and continued use of the Property as an affordable housing development;
(4) the fact that a change in ownership or control of the owner of the Property, or of a substantial part thereof, or any other act or transaction involving or resulting in a significant change in ownership or with respect to the identity of the parties in control of the Borrower or the degree thereof, is for practical purposes a transfer or disposition of the Property; and
(5) the importance to the County Board of the standards of use, operation, and maintenance of the Property. It is because of the qualifications and identity of WHDC and the Borrower that the County Board is entering into this Agreement and that Transfers are permitted only as provided in this Agreement.
Purpose of Restrictions on Transfer. This Agreement is entered into solely for the purpose of the development and operation of the Development and its subsequent use in accordance with the terms hereof. The Developer recognizes that the qualifications and identity of Developer are of particular concern to the City, in view of:
(a) The importance of the redevelopment of the Property to the general welfare of the community;
(b) The land acquisition assistance and other public aids that have been made available by law and by the government for the purpose of making such redevelopment possible;
(c) The reliance by the City upon the unique qualifications and ability of the Developer to serve as the catalyst for development of the Property;
(d) The fact that a change in ownership or Control of the Developer, or of a substantial part thereof, or any other act or transaction involving or resulting in a significant change in ownership or with respect to the identity of the parties in Control of the Developer is for practical purposes a transfer or disposition of the Property;
(e) The fact that the Property is not to be acquired or used for speculation, but only for development and operation by the Developer in accordance with this Agreement and the Regulatory Agreement; and
(f) The Developer further recognizes that it is because of such qualifications and identity that the City is entering into this Agreement with the Developer and that Transfers are permitted only as provided in this Agreement.
Purpose of Restrictions on Transfer. Subject to the provisions of this Article 10, this Lease is granted to Tenant solely for the purpose of development of the Land and its subsequent use in accordance with the terms hereof, and not for speculation in landholding. Tenant recognizes that, in view of the importance of the development of the Land to the general welfare of the community, the qualifications and identity of Tenant are of particular concern to the community and Owner. Tenant further recognizes that it is because of such qualifications and identity that Owner is entering into this Lease with Tenant and, in so doing, is further willing to accept and rely on the obligations of Tenant for the faithful performance of all undertakings and covenants by it to be performed.
Purpose of Restrictions on Transfer. Section 5.2 Transfers. .....................................................................................................
Purpose of Restrictions on Transfer. This Agreement is entered into for the purpose of the Borrower's loan modification in accordance with the terms of this Agreement. The qualifications and identity of the Borrower are of particular concern to the Agency, in view of:
(a) The public aids that have been made available by law and by the government for the purpose of making such redevelopment possible; and
(b) The importance of timely repayment of the Modified Loan in accordance with the terms of this Agreement so that the repaid funds may be applied by the Agency for further redevelopment activities of benefit to the Project Area and the City's other redevelopment project areas. It is because of the qualifications and identity of the Borrower that the Agency is entering into this Agreement and that Transfers are restricted as provided in this Agreement.
Purpose of Restrictions on Transfer. This Agreement is entered into for the purposes of negotiating the terms and conditions of leasing the Premises and the performance and completion of the Initial and Phased Improvements in accordance with the terms of this Agreement and the Lease The qualifications and identity of Developer are of particular concern to NPS, in view of the importance of the development of the Project to NPS. It is because of the qualifications and identity of Developer that NPS is entering into this Agreement with Developer and that a transfer or assignment of this Agreement is permitted only as provided in this Agreement.
Purpose of Restrictions on Transfer. This Agreement is entered into solely for the purpose of construction of the Development on the Property and its subsequent use in accordance with the terms of this Agreement. The qualifications and identity of the Developer are of particular concern to the Agency, in view of:
(a) The importance of the redevelopment of the Property to the general welfare of the community; and
(b) The fact that a Transfer as defined in Section 8.1 above is for practical purposes a transfer or disposition of the Property. It is because of the qualifications and identity of the Developer that the Agency is entering into this Agreement with the Developer and that Transfers are permitted only as provided in this Agreement.
Purpose of Restrictions on Transfer. This Agreement is entered into solely for the purpose of development and operation of the Development and its subsequent use in accordance with the terms hereof. The Developer recognizes that the qualifications and identity of the Developer are of particular concern to the County, in view of:
(a) The importance of the development of the Property to the general welfare of the community; and
(b) The reliance by the County upon the unique qualifications and ability of the Developer to serve as the catalyst for development of the Property and upon the continuing interest which the Developer will have in the Property to assure the quality of the use, operation and maintenance deemed critical by the County in the development of the Property; and
(c) The fact that a change in ownership or control of the owner of the Property, or of a substantial part thereof, or any other act or transaction involving or resulting in a significant change in ownership or with respect to the identity of the parties in Control of the Developer or the degree thereof is for practical purposes a transfer or disposition of the Property; and
(d) The fact that the Property is not to be acquired or used for speculation, but only for development and operation by the Developer in accordance with the Agreement; and
(e) The importance to the County and the community of the standards of use, operation and maintenance of the Property; and
(f) The Developer further recognizes that it is because of such qualifications and identity that the County is entering into this Agreement with the Developer and that Transfers are permitted only as provided in this Agreement.
