Common use of Permitted Dealing Clause in Contracts

Permitted Dealing. 40.2.1 The Partner may mortgage or charge or assign the benefit of this Agreement to an Approved Funder details of whom have been notified to the Council to secure monies advanced in connection with discharging the obligations under this Agreement and carrying out and disposing of the Development. 40.2.2 The Partner may direct the Council to grant any Phase Lease to a Group Company or to an Approved Funder or to a third party where such third party directly covenants with the Council to comply with the obligations in this Agreement relating to the relevant Phase or Sub-phase to be demised by the relevant Phase Lease PROVIDED THAT:-