Assignment and Dealings Sample Clauses

Assignment and Dealings. 13.1 If the Developer enters into an agreement with a third party (Incoming Party) to sell, transfer, assign or novate, encumber or similarly deal with its right, title or interest in the Land (if any) or rights or obligations under the terms of this Agreement (Transaction), the Developer may not complete that Transaction, unless before completion of the Transaction, the Developer: (a) at no cost to Council, has first procured the execution by the Incoming Party of an agreement in favour of Council on the same terms as this Agreement as if the Incoming Party were a Party to this Agreement; and (b) satisfies Council that the Developer is not in breach of its obligations under this Agreement at the time of completion of the Transaction. 13.2 The Parties agree that clause 13.1 of this Agreement does not operate in the following circumstances: (a) where the Road Land has been dedicated to Council under clauses 6 and 8 of this Agreement or a novation of this Agreement as may be required by Council. (b) the Transaction is by way of a mortgage or charge; and (c) subject to clauses 6.2 and 8.2, if the Incoming Party (as that term is defined in clause 13.1 above) is acquiring an interest in the Land or part of the Land as a purchaser of one of more lots in a community scheme or a strata scheme (whether or not the community or strata scheme as the case may be, has been registered on the Register of Land) in which case the Developer may create and transfer that interest without requiring the Incoming Party to enter into an agreement with Council, and the interest so created and transferred will not be in breach of this Agreement.

Assignment and Dealings. Until the Material Public Benefit is provided in full, the Developer cannot sell, transfer, assign, novate, charge, encumber or otherwise deal with the Land or attempt or purport to do so unless the Developer: 13.1 Gives Council no less than ten (10) Business Days’ notice in writing of the proposed sale, transfer, assignment, novation, charge, encumbrance or other dealing with its rights in respect of the Land; 13.2 Procures that any buyer, transferee, assignee or novatee promptly executes a Deed in favour of Council whereby the buyer, transferee, assignee or novatee becomes contractually bound with Council to perform the Developer’s obligations under this Deed.

Assignment and Dealings. 15.1 If the Developer proposes to enter into a Prescribed Transaction or attempts or purports to do so, the Developer must seek the consent of Council which consent is not to be unreasonably withheld, and, if required, the Developer must: (a) at no cost to Council, procure the execution by the incoming party of an Agreement in favour of Council on the same terms as this Agreement as if the incoming party were a Party to this Agreement; and (b) not be in breach of its obligations under this Agreement. 15.2 For the purposes of sub-clause 15.1(b) the Developer is not in breach of its obligation under this Agreement in the event that: (a) the Developer provided at least fourteen days’ notice in writing of a Prescribed Transaction to Council and either of the provisions of sub-clauses (i) or (ii) applies: (i) the Developer confirms to the Council and the Council is satisfied that the Developer is not in breach of its obligations under this Agreement at the time of the proposed Prescribed Transaction; or (ii) in the event that the Council identifies that the Developer is in breach of its obligations under this Agreement the Council gives notice in writing of the breach to the Developer providing the Developer with a period of fourteen days to rectify the breach and the Developer rectifies the breach to satisfaction of the Council, acting reasonably, within the fourteen days period (or such further period agreed to between the Council and the Developer). 15.3 The provisions of clause 15.1 do not apply to, and the consent of Council is not required under this Agreement, in relation to the following: (a) a mortgage or charge against the Land in circumstances where the mortgagee or chargee is bound by this Agreement; (b) the Developer entering into a contract for an off-the-plan sale, however the Developer must obtain consent of Council to effect settlement of those sales; (c) dealings directly involving the consolidation of the lots comprising the Land; (d) any service easements, positive covenants and restrictions on the use of the Land required by utility service providers or New South Wales government agencies or authorities, in accordance with the Development Consent, provided that grant of such easements, covenants and restrictions will not impact, impede or prohibit in any way delivery of the Public Works Contribution under this Agreement. 15.4 For the purposes of sub-clause 15.3(b) the Developer is not required to obtain consent of Council provided that the ...

Assignment and Dealings. Until the Development Contribution is paid in full, the Developer cannot sell, transfer, assign, novate, charge, encumber or otherwise deal with the Land or attempt or purport to do so.

Assignment and Dealings. Until the Development Contribution is paid in full, the Developer cannot sell, transfer, assign, novate, charge, encumber or otherwise deal with the Land or attempt or purport to do so unless, before completion of the said dealing, the Developer: (a) at no cost to Council, has first procured the execution by the incoming party of an agreement in favour of Council on the same terms as this Agreement as if the incoming party were a Party to this Agreement; and (b) satisfies Council that the Developer is not in breach of its obligations under this Agreement at the time of completion of the dealing.

Assignment and Dealings. Until the Development Contribution is paid in full, the Developer cannot sell, transfer, assign, novate, charge, encumber or otherwise deal with the Land or attempt or purport to do so unless the Developer: 14.1 gives Council no less than ten (10) Business Days’ notice in writing of the proposed sale, transfer, assignment, novation, charge, encumbrance or other dealing with its rights in respect of the Land; 14.2 procures that any buyer, transferee, assignee or novatee promptly executes an Agreement in favour of Council whereby the buyer, transferee, assignee or novatee becomes contractually bound with Council to perform the Developer’s obligations under this Agreement; 14.3 in the event of a proposed charge, mortgage, encumbrance or other dealing with the Land, provides to Council a bank guarantee unlimited in time from a bank and on terms acceptable to Council to secure the payment of the Development Contribution.

Assignment and Dealings. 17.1 If this Agreement is not registered on the title to the Land, and if the Developer should propose to sell the Land or any part thereof then it shall: (i) within seven (7) days of listing the Land or any part thereof for sale, either through an agent or privately, notify the Council of such intention; (ii) as a condition of any sale, require that the incoming purchaser enter into with Council a like agreement to this present Agreement in which substantially the same covenants as set out herein shall apply; (iii) within seven (7) days of exchange of contracts for the sale, notify the Council of the sale and provide the Council with a copy of the contract; (iv) within twenty one (21) days of receipt from the Council of a replacement agreement between the Council and the purchaser substantially in the form of this Agreement, have it executed by the purchaser and return it to the Council; (v) that if this Agreement is not registered on the title to the Land, and if the Developer should propose otherwise than by sale to transfer or assign its interest in the Land or any part thereof to a transferee or assignee, then it shall before effecting such assignment or transfer have the incoming transferee or assignee enter into an agreement with the Council substantially in the form of this Agreement insofar as concerns the interest assigned or transferred and shall provide same to the Council. 17.2 If the Agreement is registered on title: (i) Should the Developer intend to sell, transfer, assign, novate, charge, encumber of otherwise deal with the Land, the Developer must notify Council 10 business days prior to the assignment or dealing; (ii) If the Land is sold or transferred, the Developer must assign or novate the obligations under this Agreement in the same terms as this Agreement.

Assignment and Dealings. 14.1 The Developer agrees that it will not Deal with, transfer, mortgage or otherwise encumber any interest in the Land, or assign or novate any rights or obligations under this Agreement, to a third party (Third Party) unless: 14.1.1 Council has given its prior written consent to the proposed assignment or Dealing; 14.1.2 the Third Party has, at no cost to Council, entered into an agreement with the Developer and Council in which the Third Party agrees to be bound by the Agreement as if they were a party to the original Agreement; and 14.1.3 the Developer is not in breach of the Agreement. 14.2 The Developer agrees that it will not lodge any caveat or other instrument upon the title of the Land which may prohibit or hinder registration of this Agreement.

Assignment and Dealings. 14.1. The Developer may not sell, transfer, assign or novate or similarly deal with (Dealing) its right, title or interest in the Land or its rights or obligations under this agreement without the Council’s consent and unless: (a) the Developer gives the Council no less than 10 Business Days notice in writing of the proposed Dealing; and (b) the Council gives the Developer notice in writing that it is satisfied (acting reasonably) that the person with whom the Developer wishes to deal (Transferee) is financially capable of complying with the terms of this agreement; and (c) a right of the Council is not diminished or fettered in any way; and (d) the Developer and Transferee execute a deed of novation of this agreement prepared by the Council in which the Transferee becomes contractually bound to fulfil the terms of this agreement.