Common use of Release Upon Transfer Clause in Contracts

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s Transferee executes and delivers to City a written agreement in which Developer‟s Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s Property interest in the form of Exhibit "K" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s Property interest and the express assumption of Developer‟s obligations under this Agreement by Developer‟s Transferee, the City agrees to look solely to Developer‟s Transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "K" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s Developer’s Transferee executes and delivers to City a written agreement in which Developer‟s Developer’s Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s Developer’s Property interest in the form of Exhibit "KL" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s Xxxxxxxxx’s Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Developer’s Transferee, the City agrees to look solely to Developer‟s Developer’s Transferee for compliance with the provisions of this Agreement. Any such Developer‟s Developer’s Transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "K" “I” attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "KH" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if if: (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "K" “I” attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "K" “J” attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "KI" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "“K" ” attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "KG" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s Developer’s Transferee executes and delivers to City a written agreement in which Developer‟s Developer’s Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s Developer’s Property interest in the form of Exhibit "K" “L” attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s Xxxxxxxxx’s Property interest and the express assumption of Developer‟s Developer’s obligations under this Agreement by Developer‟s Developer’s Transferee, the City agrees to look solely to Developer‟s Developer’s Transferee for compliance with the provisions of this Agreement. Any such Developer‟s Developer’s Transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer MW to the MW Property, Developer MW shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the MW Property if : (a1) Developer MW has provided written notice of such transfer to City; and (b2) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer MW under this Agreement agreement with respect to Developer‟s the MW Property interest in the form of Exhibit "K" D attached hereto (the “Assumption Agreement”). ) Upon such transfer of Developer‟s the MW Property interest and the express assumption of Developer‟s MW’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreementagreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” MW hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1Subsection 7.a, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer CRT to the CRT Property, Developer CRT shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the CRT Property if : (a1) Developer CRT has provided written notice of such transfer to City; and (b2) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer CRT under this Agreement agreement with respect to Developer‟s the CRT Property interest in the form of Exhibit "K" D attached hereto (the “Assumption Agreement”). ) Upon such transfer of Developer‟s the CRT Property interest and the express assumption of Developer‟s CRT’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreementagreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” CRT hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1Subsection 7.a, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer to the Property, Developer shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "KG" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “Developer” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.

Release Upon Transfer. Upon the sale, transfer, exchange or hypothecation of the rights and interests of Developer School to the Property, Developer School shall be released from its obligations under this Agreement to the extent of such sale, transfer or exchange with respect to the Property if : (a) Developer School has provided written notice of such transfer to City; and (b) Developer‟s the Property Transferee executes and delivers to City a written agreement in which Developer‟s the Property Transferee expressly and unconditionally assumes all of the obligations of Developer School under this Agreement with respect to Developer‟s the Property interest in the form of Exhibit "KI" attached hereto (the “Assumption Agreement”). Upon such transfer of Developer‟s the Property interest and the express assumption of Developer‟s School’s obligations under this Agreement by Developer‟s Transfereethe transferee, the City agrees to look solely to Developer‟s Transferee the transferee for compliance with the provisions of this Agreement. Any such Developer‟s Transferee transferee shall be entitled to the benefits of this Agreement as “DeveloperSchool” hereunder and shall be subject to the obligations of this Agreement. Failure to deliver a written Assumption Agreement hereunder shall not affect the transfer of the benefits and burdens as provided in Section 13.1, provided that the transferor shall not be released from its obligations hereunder unless and until the executed Assumption Agreement is delivered to the City.