New Developer definition
Examples of New Developer in a sentence
The New Developer indemnifies the Original Developer on demand against all liabilities, claims, damages and loss which the Original Developer suffers or incurs in relation to the Original Agreement including those which arise or relate to acts or omissions occurring on or after the Effective Date.
On and from the Effective Date, the New Developer indemnifies the Existing Developer from and against all Liabilities and Claims that it may have against the Existing Developer in respect of the Agreement.
The Original Developer wishes to novate all of its rights and obligations under the Original Agreement to the New Developer.
The Existing Developer and the New Developer each acknowledge that the Council has entered into this Deed in reliance on the representations and warranties detailed in clause 5.1.
All references to the Original Developer in the Original Agreement are to be construed as references to the New Developer.
On and from the Effective Date, the New Developer must properly and punctually observe and perform all of the Original Developer’s obligations (both present, future, actual and contingent) under the Original Agreement or which arise as a result of the Council exercising any right under the Original Agreement and which are due to be performed on or after the Effective Date.
The Existing Developer has agreed to transfer the Rights and Obligations to the New Developer.
The Existing Developer intends to transfer [Insert title reference(s)] to the New Developer.
The Original Developer wishes to assign its rights and interests under the Original Agreement to the New Developer.
Council means Tweed Shire Council [Drafting Note: Only to be included where the Original Agreement is assigned to the New Developer].