Common use of Assignment and Dealings Clause in Contracts

Assignment and Dealings. 14.1. The Developer may not sell, transfer, assign or novate or similarly deal with (Dealing) its right, title or interest in the Land or its rights or obligations under this agreement without the Council’s consent and unless: (a) the Developer gives the Council no less than 10 Business Days notice in writing of the proposed Dealing; and (b) the Council gives the Developer notice in writing that it is satisfied (acting reasonably) that the person with whom the Developer wishes to deal (Transferee) is financially capable of complying with the terms of this agreement; and (c) a right of the Council is not diminished or fettered in any way; and (d) the Developer and Transferee execute a deed of novation of this agreement prepared by the Council in which the Transferee becomes contractually bound to fulfil the terms of this agreement.

Assignment and Dealings. 14.117.1. The Developer may not sell, transfer, assign or novate or similarly deal with (Dealing) its right, title or interest in the Land Site or its rights or obligations under this agreement without the Council’s consent and unless: (a) the Developer gives the Council no less than 10 Business Days business days notice in writing of the proposed Dealing; and (b) the Council gives the Developer notice in writing that it is satisfied (acting reasonably) that the person with whom the Developer wishes to deal (Transferee) is financially capable of complying with the terms of this agreement; and (c) a right of the Council is not diminished or fettered in any way; and (d) the Developer and Transferee execute a deed of novation of this agreement prepared by the Council in which the Transferee becomes contractually bound to fulfil the terms of this agreement.