Common use of Assignment by Developer Clause in Contracts

Assignment by Developer. (a) Developer shall not voluntarily or involuntarily sell, assign, convey, transfer, pledge, mortgage or otherwise encumber its interests in this Lease or the Premises except to the extent specifically permitted under Article 23 of the Agreement. (b) Developer shall not sublease, sublicense or grant any other special occupancy or use of the Premises to any other Person except to the extent specifically permitted under Article 23 of the Agreement. (c) Developer shall not voluntarily or involuntarily cause, permit or suffer any Equity Transfer or Change of Control except to the extent specifically permitted under Section 13.1 of the Agreement. (d) Any sale, assignment, conveyance, transfer, pledge, mortgage, encumbrance, sublease or grant of other special occupancy or use, and any Equity Transfer or Change of Control, in violation of this provision shall be null and void ab initio and the Department, at its option, may declare any such attempted action to be a Developer Default.

Assignment by Developer. (a) Developer shall not voluntarily or involuntarily sell, assign, convey, transfer, pledge, mortgage or otherwise encumber its interests in this Lease or the Premises except to the extent specifically permitted under Article 23 of the Agreement. (b) Developer shall not sublease, sublicense or grant any other special occupancy or use of the Premises to any other Person except to the extent specifically permitted under Article 23 of the Agreement. (c) Developer shall not voluntarily or involuntarily cause, permit or suffer any Equity Transfer or Change of Control except to the extent specifically permitted under Section 13.1 Article 13 of the Agreement. (d) Any sale, assignment, conveyance, transfer, pledge, mortgage, encumbrance, sublease or grant of other special occupancy or use, and any Equity Transfer or Change of Control, in violation of this provision shall be null and void ab initio and the Department, at its option, may declare any such attempted action to be a Developer Default.