Common use of Deemed Assignment Clause in Contracts

Deemed Assignment. Where the Lessor is a corporation having shares not listed on a Stock Exchange in Australia, the following circumstances shall constitute an assignment of this Agreement: (a) any sale, transfer or other disposition whatsoever of the shares in the capital of the Lessor or any issue or allotment of any new shares in the capital of the Lessor or the happening of any other matter or event whatsoever the effect of which is to transfer directly or indirectly the effective ownership, management or control of the Lessor; or (b) if any of the events referred to in the above clause occur to any holding company (as defined in Corporations Act 2001) of the Lessor or any ultimate holding company of the Lessor. Item 1. Lessor [insert Lessor full name and ABN] Address: [insert] Item 2. Land [insert title details] Item 3 Dwellings [insert description of all proposed dwellings to be leased] Item 4 Date for Construction Commencement {insert date} Item 5 Completion Date [insert date] Item 5 Lessor’s Representative Name: [insert name] Address: [insert address] Phone: [insert number]

Deemed Assignment. Where the Lessor is a corporation having shares not listed on a Stock Exchange in Australia, the following circumstances shall constitute an assignment of this Agreement: (a) any sale, transfer or other disposition whatsoever of the shares in the capital of the Lessor or any issue or allotment of any new shares in the capital of the Lessor or the happening of any other matter or event whatsoever the effect of which is to transfer directly or indirectly the effective ownership, management or control of the Lessor; or (b) if any of the events referred to in the above clause occur to any holding company (as defined in Corporations Act 2001) of the Lessor or any ultimate holding company of the Lessor. Item 1. Lessor [insert Lessor full name and ABN] Address: [insert] Item 2. Land [insert title details] Item 3 Dwellings [insert description of all proposed dwellings to be leased] Item 4 4.1 Date for Construction ConstructionDevelopm ent Commencement Date {[insert proposed development commencement date} Item 5 Completion Date [insert date] Item 5 Lessor’s Representative Name: [insert name] Address: [insert address] Phone: [insert number– must be prior to 30 June 2019]