Assignment Limitations. Except as otherwise specifically provided herein, prior to Final Completion of the Project, Developer may not assign this Contract or any right, title or interest hereunder, to any entity other than an Affiliate without the City’s prior written permission. Developer shall have the right to collaterally assign all or any portion of its rights in this Contract to any lender or lenders prior to the Final Completion of the Project or to anyone after the Project has been Finally Completed. An assignment shall not relieve the assigning party from its obligations under this Contract. Any purported assignment of this Contract or of any right, title or interest hereunder not complying with this Article IX shall be void and of no force or effect.
Appears in 2 contracts
Sources: Land Disposition and Development Contract, Land Disposition and Development Contract