Representations as to Redevelopment. PURCHASER represents and agrees that its purchase of the Subject Property and its other undertakings pursuant to this Agreement are (and the Subject Property, when purchased, shall be used for) for the purpose of redevelopment and not for speculation. PURCHASER further recognizes that in view of:
9.1.1 The importance of the redevelopment of the Subject Property to SELLER and the County, the Director, and the general welfare of the County; and
9.1.2 The public commitments made and to potentially be made by the County for the purpose of making such redevelopment possible, the qualifications and identity of PURCHASER are of particular concern to the community and the County. PURCHASER further recognizes that it is because of such qualifications and identity that SELLER is entering into this Agreement with PURCHASER, and in so doing, is further willing to accept and rely upon the obligations of PURCHASER for the faithful performance of all undertakings and covenants by it to be performed hereunder.
9.1.3 Any assignment of this Agreement or of any right, title or interest in this Agreement, the sale, transfer or conveyance of all or any portion of the Subject Property or of any right, title or interest in the Subject Property, and/or any sale, transfer or conveyance of any interest in and to PURCHASER to a third-party prior to the Notice Reverter Release shall require prior approval of SELLER which will not unreasonably be withheld. Notwithstanding the foregoing, Purchaser shall be permitted to pledge, mortgage and/or assign any of its rights in and to the Subject Property for purposes of financing any construction, rehabilitation, renovation, improvement, remediation, or environmental clean-up on the Subject Property.
Representations as to Redevelopment. The Company represents and agrees that its purchase of the Disposition Parcels and its other undertakings pursuant to this Agreement are for the purpose of redevelopment of the Disposition Parcels and not for speculation in land holding. The Company further acknowledges and agrees that, in view of the importance of the redevelopment of the Disposition Parcels to the community, the qualifications and identity of the Company and Xxxxx X. Xxxxxxxx and Xxxx X. Xxxxxx, as its principals (each a "Principal" and collectively, the "Principals") are essential to the community.
Representations as to Redevelopment. The Redeveloper further recognizes that, in view of:
(i) the importance of the redevelopment of the Project Site to the general welfare of the Norwalk community; and
(ii) the substantial efforts being made by the City and the Agency for the purposes of making such redevelopment possible, including the appropriation of certain public funds, the qualifications and identity of the Redeveloper are of particular concern to the City and the Agency. The Redeveloper further recognizes that it is in reliance on such qualifications and identity that the City and Agency are entering into this Agreement with the Redeveloper and, in so doing, are further willing to accept and rely on the obligations of the Redeveloper for the faithful performance of all undertakings and covenants by it to be performed hereunder. The Redeveloper has made available to the Agency or its representative for inspection such information, in such form, as the Agency has reasonably requested, in order to enable the Agency to determine that the Redeveloper has the financial ability to complete the Proposed Project as contemplated by this Agreement, including without limitation, the names of the members of the Redeveloper and any Redeveloper Affiliate involved in the Project. The Redeveloper agrees to update such information on at least a quarterly basis for inspection by the Agency or its representative. Any inspection or disclosure of investors or financial information shall be made pursuant to a reasonably acceptable confidentiality agreement.
Representations as to Redevelopment. The Developer represents and agrees that its purchase of the Building Site and its other undertakings pursuant to this Agreement are for the purpose of redevelopment and not for speculation. The Developer further recognizes that in view of:
(a) The importance of the redevelopment of the Building Site as a whole to the general welfare of the City of Yonkers, and
(b) The substantial expenditures and other public commitments made and to be made by the Agency and the City for the purpose of making such redevelopment possible, the qualifications and identity of the Developer are of particular concern to the community, the Agency and the City. The Developer further recognizes that it is because of such qualifications and identity that the Agency is entering into this Agreement with the Developer, and in so doing, is further willing to accept and rely upon the obligations of the Developer for the faithful performance of all undertakings and covenants by it to be performed hereunder.
Representations as to Redevelopment. The Redeveloper represents and agrees that its ownership of the Project and its other undertakings under the Agreement are for the purpose of redevelopment of the Project and not for speculation and land holding. The Redeveloper further represents and agrees that;
(a) the redevelopment of the Project is important to the general welfare of the Authority and the City;
(b) substantial financing and other public aids have been made available by the Authority to make such redevelopment possible;
(c) a transfer of interest in all or part of the Redeveloper, or any other act or transaction resulting in a change in the ownership or control of the Redeveloper, is a transfer or disposition of the Project. Therefore, the qualifications and identity of the Redeveloper and its principals are of particular concern to the Authority. The Redeveloper recognizes that it is because of such qualifications and identity that the Authority is entering into the Agreement with the Redeveloper, and is willing to accept and rely on the obligations of the Redeveloper for the faithful performance of all of its undertakings and covenants under this Agreement.
Representations as to Redevelopment. The Redeveloper represents and agrees that its ownership of the Property and its other undertakings under the Agreement are for the purpose of redevelopment. The Redeveloper further represents and agrees that;
(a) the redevelopment of the Project is important to the general welfare of the Authority and the City;
(b) substantial financing and other public aids have been made available by the Authority to make such redevelopment possible;
(c) a transfer of interest in all or part of the Redeveloper, or any other act or transaction resulting in a change in the ownership or control of the Redeveloper, is a transfer or disposition of the Project. Therefore, the qualifications and identity of the Redeveloper and its principals are of particular concern to the Authority. The Redeveloper recognizes that it is because of such qualifications and identity that the Authority is entering into the Agreement with the Redeveloper, and is willing to accept and rely on the obligations of the Redeveloper for the faithful performance of all of its undertakings and covenants under this Agreement.
Representations as to Redevelopment. The Redeveloper represents and agrees that its purchase of the Property and its other undertakings pursuant to the Agreement are, and will be, used for the purpose of redevelopment of the Property and not for speculation in land holding. The Redeveloper further recognizes that, in view of:
A. The importance of the redevelopment of the Property to the general welfare of the community; and
B. The substantial financing and other public aids that have been made available by law and by the Federal and local governments for the purpose of making such redevelopment possible; The qualifications and identity of the Redeveloper are of particular concern to the City and the Agency. The Redeveloper further recognizes that it is because of such qualifications and identity that the Agency is entering into this Agreement with the Redeveloper and, in so doing, is further willing to accept and rely on the obligations of the Redeveloper for the faithful performance of all undertakings and covenants by it to be performed without requiring in addition a surety bond or similar undertaking for such performance of all undertakings and covenants in the Agreement.
Representations as to Redevelopment. The Redeveloper represents and agrees that its purchase of the Property, and its other undertakings pursuant to this Agreement, are, and will be used, for the purpose of redevelopment of the Property and not for speculation in land holding. The Redeveloper further recognizes that, in view of:
Representations as to Redevelopment. The Redeveloper represents to the Agency and the City and agrees that the Acquisition Property to be purchased by the Redeveloper and the Redeveloper’s other undertakings pursuant to this Agreement are, and will be used, for the purpose of the redevelopment of the Property and not for speculation in land holding. The Redeveloper further recognizes that, in view of:
(i) the importance of the redevelopment of the Project Site to the general welfare of the Norwalk community; and
(ii) the substantial efforts being made by the City and Agency for the purposes of making such redevelopment possible, including the exercise of the power of eminent domain, the transfer of City-owned assets and the appropriation of certain public funds, the qualifications and identity of the Redeveloper are of particular concern to the City and the Agency. The Redeveloper further recognizes that it is in reliance on such qualifications and identity that the City and Agency are entering into this Agreement with the Redeveloper and, in so doing, are further willing to accept and rely on the obligations of the Redeveloper for the faithful performance of all undertakings and covenants hereby by it to be performed. The Redeveloper has provided, to the Agency’s consultant, UHY Advisors, such information, in such form, as the consultant reasonably requested, in order to enable the consultant to determine that the Redeveloper has the financial ability to complete the Project as contemplated by this Agreement, including without limitation, the names of members of the Redeveloper owning not less than seventy (70%) percent of the equity interest in the Redeveloper and its Affiliates. The Redeveloper agrees to update such information periodically and provide same exclusively to the Agency’s consultant, if requested by the Agency. The consultant shall not disclose the identity of the members but shall have the right to disclose to the Agency if any or all of such members’ equity interest in the Redeveloper or its Affiliates has been transferred. Any disclosure of investors or financial information shall be made pursuant to a reasonably acceptable confidentiality agreement.
Representations as to Redevelopment. The YIDA represents agrees and the Company acknowledges that this Lease and the undertakings required pursuant to this Lease and the Sublease are for and shall be used for the purpose of urban renewal and redevelopment under Article 15 and not for speculation. XXXX agrees, and the Company further acknowledges that in view of:
(a) the importance of the redevelopment of the Premises as a whole to the general welfare of the City of Yonkers, and
(b) the substantial expenditures and other public commitments made and to be made by CDA and the City for the purpose of making such redevelopment possible, the qualifications and identity of the Company are of particular concern to the community, CDA and the City. The Company further recognizes that it is because of such qualifications and identity that CDA is entering into this Lease with XXXX and has approved the Sublease of the Premises to the Company, and in so doing, is further willing to accept and rely upon the obligations of the Company for the faithful performance of all undertakings and covenants by it to be performed hereunder and under the LDA.
