Common use of Transfers After Acquisition Upon Event of Default Clause in Contracts

Transfers After Acquisition Upon Event of Default. Subject to the provisions of Section 7(f), any Qualifying Company Mortgagee Designee or other permitted acquirer of the leasehold estate pursuant to a Foreclosure Event may, upon acquiring the Company’s rights under this Agreement, subject to the consent of the City to the extent required in the Agreement with respect to any such proposed transfer, sell and assign the Company’s rights under this Agreement on such terms and to such persons (but without modifying this Agreement) and thereafter shall be relieved of all obligations of Company under this Agreement arising after the date of such transfer, provided (i) such transfer includes and is subject to the Lease, (ii) such transferee assumes in writing for the benefit of City all of the obligations of the Company under this Development Agreement and the "Tenant" under the Lease and (iii) City is notified of such transfer and provided a copy of such assumption promptly following such transfer.

Transfers After Acquisition Upon Event of Default. Subject to the provisions of Section 7(f5.2(e), any Qualifying Company Mortgagee Designee or other permitted acquirer of the leasehold estate pursuant to a Foreclosure Event may, upon acquiring the Company’s rights under this Agreement, subject to the consent of the City to the extent required in the Agreement with respect to any such proposed transfer, sell and assign the Company’s rights under this Agreement on such terms and to such persons (but without modifying this Agreement) and thereafter shall be relieved of all obligations of Company under this Agreement arising after the date of such transfer, provided (i) such transfer includes and is subject to the Lease, (ii) such transferee assumes in writing for the benefit of City all of the obligations of the Company under this Development Agreement and the "Tenant" under the Lease and (iii) City is notified of such transfer and provided a copy of such assumption promptly following such transfer.

Transfers After Acquisition Upon Event of Default. Subject to the provisions of Section 7(f)XVII.D., any Qualifying Company Mortgagee Designee or other permitted acquirer of the leasehold estate pursuant to a Foreclosure Event may, upon acquiring the Company’s rights under this Agreement, subject to the consent of the City to the extent required in the Agreement with respect to any such proposed transfer, sell and assign the Company’s rights under this Agreement on such terms and to such persons (but without modifying this Agreement) and thereafter shall be relieved of all obligations of Company under this Agreement arising after the date of such transfer, provided (i) such transfer includes and is subject to the Lease, (ii) such transferee assumes in writing for the benefit of City all of the obligations of the Company under this Development Agreement and the "Tenant" under the Lease and (iii) City is notified of such transfer and provided a copy of such assumption promptly following such transfer.

Transfers After Acquisition Upon Event of Default. Subject to the provisions of Section 7(f)XVII.D., any Qualifying Company Mortgagee Designee or other permitted acquirer of the leasehold estate pursuant to a Foreclosure Event maym ay, upon acquiring the Company’s rights under this Agreement, subject to the consent of the City to the extent required in the Agreement with respect to any such proposed transfer, sell and assign the Company’s rights under this Agreement on such terms and to such persons (but without modifying this Agreement) and thereafter shall be relieved of all obligations of Company under this Agreement arising after the date of such transfer, provided (i) such transfer includes and is subject to the Lease, (ii) such transferee assumes in writing for the benefit of City all of the obligations of the Company under this Development Agreement and the "Tenant" under the Lease and (iii) City is notified of such transfer and provided a copy of such assumption promptly following such transfer.