Common use of Property Transfer Clause in Contracts

Property Transfer. In the event that Customer proposes to sell its real property to which District Water is made available under this Agreement, Customer shall notify District in writing in advance of the close of escrow with sufficient time for District to consider the proposed transfer. If (a) District is timely notified of the proposed transfer; (b) Customer is not then in default under this Agreement at the time of such notification or at any time up until the close of escrow; and (c) the proposed new owner executes a new agreement with District in substantially the same form as this Agreement, or if specified by District, executes District's then-current uniform water supply agreement, on or before the close of escrow; then District shall approve the application of the proposed new owner and execute the new agreement with such owner. Upon District's execution of the replacement agreement, this Agreement shall be terminated.

Property Transfer. In the event that Customer proposes to sell its real property to which District ProjectDistrict Water is made available under this Agreement, Customer shall notify District in writing in advance of the close of escrow with sufficient time for District to consider the proposed transfer. If (a) District is timely notified of the proposed transfer; (b) Customer is not then in default under this Agreement at the time of such notification or at any time up until the close of escrow; and (c) the proposed new owner executes a new agreement with District in substantially the same form as this Agreement, or if specified by District, executes District's then-then- current uniform water supply agreement, on or before the close of escrow; then District shall approve the application transfer of the Contract Quantity to theapplication of the proposed new owner and execute the new agreement with such owner. Upon District's execution of the replacement agreement, this Agreement shall be terminated.

Property Transfer. In the event that Customer proposes to sell its real property to which District Project Water is made available under this Agreement, Customer shall notify District in writing in advance of the close of escrow with sufficient time for District to consider the proposed transfer. If (a) District is timely notified of the proposed transfer; (b) Customer is not then in default under this Agreement at the time of such notification or at any time up until the close of escrow; and (c) the proposed new owner executes a new agreement with District in substantially the same form as this Agreement, or if specified by District, executes District's then-current uniform water supply agreement, on or before the close of escrow; then District shall approve the application transfer of the Contract Quantity to the proposed new owner and execute the new agreement with such owner. Upon District's execution of the replacement agreement, this Agreement shall be terminated.

Property Transfer. In the event that Customer proposes to sell its real property to which District Project Water is made available under this Agreement, Customer shall notify District in writing in advance of the close of escrow with sufficient time for District to consider the proposed transfer. If (a) District is timely notified of the proposed transfer; (b) Customer is not then in default under this Agreement at the time of such notification or at any time up until the close of escrow; and (c) the proposed new owner executes a new agreement with District in substantially the same form as this Agreement, or if specified by District, executes District's ’s then-current uniform water supply agreement, on or before the close of escrow; then District shall approve the application transfer of the Contract Quantity to the proposed new owner and execute the new agreement with such owner. Upon District's ’s execution of the replacement agreement, this Agreement shall be terminated.