Common use of Release of Developer Clause in Contracts

Release of Developer. Subject to the terms of this Agreement, in the event of conveyance of all or a portion of the Real Property in compliance with the conditions set forth herein to a person or entity other than Developer, the Developer shall be released from any further obligations under this Agreement with respect to the Real Property so transferred, and the transferee shall be substituted as the Developer under this Agreement as to the portion of the Real Property so transferred.

Release of Developer. Subject to the terms of this Agreement, in In the event of conveyance of all or a portion of the Real Property in and compliance with the conditions set forth herein to a person or entity other than Developertherein, the Developer shall be released from any further all obligations under this Agreement with respect as to the portion of Real Property so transferred, and the transferee shall be substituted as the Developer under this Agreement as to the portion of the Real Property so transferred.

Release of Developer. Subject to the terms of this Agreement, in In the event of the sale or other conveyance of all or a portion of the Real Property in and compliance with the conditions set forth herein to a person or entity other than Developerherein, the conveying Developer shall be released from any further obligations under this Agreement with respect to the Real Property so transferred, and the transferee shall be substituted as the Developer under this Agreement as to the portion of the Real Property so transferred, and the transferee shall be considered as substituted as the Developer under the Agreement as to the portion of the Real Property so transferred.

Release of Developer. Subject to the terms of this Agreement, in In the event of conveyance of all or a portion of the Real Property in compliance with the conditions set forth herein to a person or entity other than DeveloperProperty, the Developer shall be released from any further obligations under this Agreement and liabilities with respect to this Agreement as to the Real portion of Property so transferred, and the transferee shall be substituted as the Developer under this the Agreement as to the portion of the Real Property so transferred; provided, however, the transferee(s) of the four acres contemplated for subdivision and conveyance under Section 5.B shall not be deemed to succeed to any Development Rights and Obligation of Developer under this Agreement.

Release of Developer. Subject to the terms of this Agreement, in In the event of conveyance of all or a portion of the Real Property in and compliance with the conditions set forth herein to a person or entity other than Developertherein, the Developer shall be released from any further obligations under this Agreement with respect to this Agreement as to the portion of Real Property so transferred, and the transferee shall be substituted as the Developer under this the Agreement as to the portion of the Real Property so transferred.