Common use of Assignment Limitations Clause in Contracts

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. (For the sake of clarity, Developer shall be permitted to assign this Contract and any and all rights, title or interest hereunder to an Affiliate without the City’s prior written consent.) 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.