Assignment of Interests, Rights and Obligations. Owner may transfer all or any portion of its interest in, and rights and obligations under, this Agreement to any person acquiring an interest or estate in all or any portion of the Property (any such portion, a “Transfer Property”), including, without limitation, purchasers or ground lessees of such Transfer Property (a “Transferee”) without any act or concurrence by City. Any such transfer must, as and to the extent set forth below, relieve the transferring party (a “Transferor”) of any and all rights and obligations under this Agreement insofar as they pertain to the Transfer Property. No sale, transfer or assignment shall require the amendment of this Agreement.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement