Transfers Prohibited. Except as provided in Article Five of this Agreement, Owner shall not Transfer or Assign the Development, in whole or in part, prior to the termination of this Agreement without the prior written consent of the Trustees in the form of a Resolution. During the Extended Use Period, the disposition of less than the entire Development, which is subject to this Agreement, is prohibited. Failure by Owner or any subsequent Owner to comply with the requirements of this Section shall not terminate this Agreement or relieve Owner or any such subsequent Owner of the terms, conditions, burdens and restrictive covenants of this Agreement. The removal, replacement, substitution or addition of a general partner of the Owner by the limited partners pursuant to the terms of the Partnership Agreement shall also require the written consent of the Trustees, which OHFA and the Trustees agree will not be unreasonably withheld or conditioned. Applicable transfer fees must also be paid to OHFA.
Appears in 5 contracts
Samples: Regulatory Agreement for Low Income Housing Tax Credits, Regulatory Agreement for Low Income Housing Tax Credits, Regulatory Agreement for Low Income Housing Tax Credits
