Common use of Assignment of Fees Clause in Contracts

Assignment of Fees. Any Development Fees paid and/or credits for Development Fees with respect to property conveyed, services performed and/or money paid as provided in this Agreement may be assigned by the Owner and/or Secondary Developer owning such credits, to the extent such credits exist, and all such credits shall remain valid until utilized. In connection with such Assignment of Development Fees pursuant to this section, the assignee receiving the assignment of such credits must provide notice to the City of such assignment along with a copy of the actual assignment. The City shall recognize all such written assignments of such rights and shall credit the same, to the extent such credits exist, against any Development Fees which are owned pursuant to this Agreement.

Assignment of Fees. Any Development Fees paid and/or credits for Development Fees with respect to property conveyed, services performed and/or money paid as provided in this Agreement may be assigned by the Owner Owner, Developer, and/or Secondary Developer owning such credits, to the extent such credits exist, and all such credits shall remain valid until utilized. In connection with such Assignment of Development Fees pursuant to this section, the assignee receiving the assignment of such credits must provide notice to the City of such assignment along with a copy of the actual assignment. The City shall recognize all such written assignments of such rights and shall credit the same, to the extent such credits exist, against any Development Fees which are owned pursuant to this Agreement.