Common use of BUSINESS STRUCTURE AND ASSIGNMENTS Clause in Contracts

BUSINESS STRUCTURE AND ASSIGNMENTS. The Developer shall not assign this Contract at law or otherwise or dispose of all or substantially all of its assets without the prior written consent of the Director. If the Developer desires approval of an assignment, the Developer shall immediately furnish the Director: (1) proof of the assignment and the name, telephone number, and address of the Assignee and a clear identification of the fees to be paid to the Assignee; (2) an original Affidavit of Ownership and Control of the Assignee; and (3) all pre-qualifying information requested by the Director. The Developer shall not delegate any portion of its performance under this Contract without obtaining prior written consent from the Director. Nothing in this clause, however, prevents the assignment of accounts receivable or the creation of a security interest as described in §9.406 of the Texas Business & Commerce Code. Provided, however, the Developer must provide the Directors the information described in item (1) above.

BUSINESS STRUCTURE AND ASSIGNMENTS. The Developer shall not assign this Contract at law or otherwise or dispose of all or substantially all of its assets without the prior written consent of the Director. If the Developer desires approval of an assignment, the Developer shall immediately furnish the Director: (1) proof of the assignment and the name, telephone number, and address of the Assignee and a clear identification of the fees to be paid to the Assignee; (2) an original Affidavit of Ownership and Control of the Assignee; and (3) all pre-qualifying information requested by the Director. The Developer shall not delegate any portion of its performance under this Contract without obtaining prior written consent from the Director. Nothing in this clause, however, prevents the assignment of accounts receivable or the creation of a security interest as described in §9.406 of the Texas Business & Commerce Code. Provided, however, the Developer must provide the Directors the information described in item item (1) above.

BUSINESS STRUCTURE AND ASSIGNMENTS. The Successor Developer shall not assign this Contract at law or otherwise or dispose of all or substantially all of its assets without the prior written consent of the Director. If the Successor Developer desires approval of an assignment, the Successor Developer shall immediately furnish the Director: (1) proof of the assignment and the name, telephone number, and address of the Assignee and a clear identification of the fees to be paid to the Assignee; (2) an original Affidavit of Ownership and Control of the Assignee; and (3) all pre-qualifying information requested by the Director. The Successor Developer shall not delegate any portion of its performance under this Contract without obtaining prior written consent from the Director. Nothing in this clause, however, prevents the assignment of accounts receivable or the creation of a security interest as described in §9.406 of the Texas Business & Commerce Code. Provided, however, the Successor Developer must provide the Directors the information described in item (1) above.