Examples of Assignment of Project Documents in a sentence
Neither Developer or Owner nor any of thier shareholders, partners, officers, directors, agents or employees shall have any personal liability for repayment of the Predevelopment Loan or Predevelopment Note, and recourse on the Predevelopment Note shall be limited to the Project Documents as set forth in the Assignment of Project Documents (Exhibit C), and any other collateral given by Developer or Owner to secure the payment of the indebtedness evidenced thereby.
If Closing, as defined in the Loan Agreement, does not occur for any reason on or before the Payment Date, then the Owner shall deliver its Project Documents (as defined in the Assignment of Project Documents dated if even date herewith) to the City in lieu of repayment of the Predevelopment Loan (or as may otherwise be authorized by Section 4 of the Loan Agreement).
The Owner agrees that all its interest in drawings, tracings, specifications and other documents prepared by the Owner, its individual members or subcontractors and used in the predevelopment work and construction of Phase 2 shall be collaterally assigned to the City pursuant to the Assignment of Rolling Hills/Southside/The Lofts at Southside property, and the Consent to Assignment of Project Documents, as such forms are attached hereto as Exhibit C.
Neither Owner nor any of its shareholders, partners, officers, directors, agents or employees shall have any personal liability for repayment of the Predevelopment Loan or Note, and recourse on the Predevelopment Note shall be limited to the Project Documents as set forth in the Assignment of Project Documents, (Exhibit C), and any other collateral given by Owner to secure the payment of the indebtedness evidenced thereby.
The entire principal amount of the Predevelopment Loan shall mature and be due and payable upon the Closing for Phase 2; provided, however, that if the Closing does not occur on or before September 30, 2016, then the Owner shall deliver its Project Documents (as defined in the Assignment of Project Documents in the attached Exhibit C) to the City in lieu of repayment of the Predevelopment Loan, or as may otherwise be specified in the Master Development Agreement dated June 20, 2012.