No Guarantee of Development, Construction or Completion of the Project Sample Clauses

No Guarantee of Development, Construction or Completion of the Project. A Holder shall have the right at its sole discretion to, but in no manner shall be obligated by the provisions of this Redevelopment Agreement to, develop, construct or Complete the Project (or portion to which its mortgage relates), or to guarantee such development, construction or Completion; nor shall any covenant or any other provisions be construed to so obligate a Holder. Notwithstanding the foregoing, nothing contained in this Redevelopment Agreement shall be deemed to permit or authorize such Holder to undertake or continue the development, construction or Completion of the Project, or portion to which its mortgage relates (beyond the extent necessary to conserve or protect the Holder’s security, including the improvements or construction already made), without the Holder first having expressly assumed Developer’s obligations to the Township going forward from and after the date of such assumption with respect to the Project (or portion to which its mortgage relates) by written agreement reasonably satisfactory to the Township and the Holder.