Sale of Project. In the event of the sale of the Project, this Agreement shall terminate upon the giving of not less than thirty (30) days written notice by Owner to Pinnacle.
Sale of Project. The sale, exchange, transfer or other disposition of all or any portion of the Project (exclusive of any lease of any portion of the Project);
Sale of Project. The term “Landlord” will mean only the owner at the time in question of the fee title or a tenant’s interest in a ground lease of the Project. The obligations contained in this Lease to be performed by Landlord will be binding on Landlord and Landlord’s successors and assigns only during their respective periods of ownership. In the event of a sale of the Project or assignment of this Lease by Landlord, Landlord will have the right to transfer the Security Deposit to Landlord’s vendee or assignee, subject to Tenant’s rights therein, and Landlord will thereafter be released from any liability to Tenant with respect to the return of the Security Deposit to Tenant.
Sale of Project. In the event the housing project in which the rental unit is located is sold to a third party buyer approved by Rural Development, this Lease will be transferred and assigned to the new third party owner of the project. No increase in tenant contribution to rent will take place due to prepayment of the Rural Development loan during term of this Lease. The following two paragraphs apply only in prepayment cases: If loan prepayment occurs and the housing project is subject to restrictive use provisions, this Lease and any renewals thereof must be amended to include a clause specifying the tenant protections required under subpart N of 7 C.F.R. 3560. Moreover, as a condition of the Government’s approval of a request to accept early payment on notes owed, the tenant household is protected, to the extent herein disclosed, against involuntary displacement (except for good cause) and against having the tenant household contribution level (rent) materially increased until (insert either restrictive use date or insert “the tenant household decides to move” depending on the restrictive-use provision accepted by the owner). At all times until (insert relevant 20 year term following prepayment or “tenant moves”), the tenant household contribution level (rent) must be consistent with that necessary to maintain the project for low and moderate- income tenants.
Sale of Project. This Agreement shall automatically terminate upon any sale of the Project.
Sale of Project. Lessee will not sell, lease, assign, transfer or otherwise dispose of all or any of the Project or any interest therein (whether in one transaction or in a series of transactions) unless Lessee pays the Purchase Price to Lessor.
Sale of Project. As soon as is reasonably possible after completion of said appraisal, the Unit Owners shall, in concert with BAHA, as the owner of the Commercial Space, sell the Agency Space as part of the overall Facility. If necessary to such sale, the Unit Owners may, but shall not be required to, cause any construction then standing to be razed; provided the costs thereof shall be paid out of any insurance or sales proceeds. The Unit Owners and BAHA shall prepare and file a corrected subdivision map, if required, converting the Facility into single unimproved parcel of land. Such sale shall be free from the effect of this Declaration, with the exception that any provisions hereof relating to distribution of sale and insurance proceeds to the Unit Owners and Unit Mortgagees, and liabilities of the Unit Owners inter se shall continue to have full force and effect until such distribution is completed. The Unit Owners are authorized to sell the Agency Space, but if the price is, or the terms of such sale have the effect of reducing such price by, more than fifteen percent (15%) below the appraised value previously obtained, the Unit Owners may not sell the Agency Space without the consent of each Unit Mortgagee.
Sale of Project. It is agreed that Landlord may at any time sell, assign or transfer its interest as landlord in and to this Lease, and may at any time sell, assign or transfer its interest in and to the Project. In the event of any transfer of Landlord’s interest in this Lease or in the Project, the transferor shall be automatically relieved of any and all of Landlord’s obligations and liabilities accruing from and after the date of such transfer; provided that the transferee assumes all of Landlord’s obligations under this Lease. Tenant hereby agrees to attorn to Landlord’s assignee, transferee, or purchaser from and after the date of notice to Tenant of such assignment, transfer or sale, in the same manner and with the same force and effect as though this Lease were made in the first instance by and between Tenant and the assignee, transferee or purchaser.
Sale of Project. Other than as set forth in Section 15.9, Seller may not, sell, transfer or assign its interest in the Project to a third party (other than an Affiliate of Seller that assumes all obligations to perform this Agreement and complies with the requirements of Sections 15.1.2 and 15.1.3) or sell, transfer or assign its interest in the Project to any Person succeeding to all or substantially all of the assets of Seller.
Sale of Project. Should the apartment complex be sold to an approved Rural Development buyer, this Lease will be transferred to the new owner.
