Designation as Redeveloper Sample Clauses

Designation as Redeveloper. The purpose of this Agreement is to set forth the respective rights, obligations, conditions and agreements of the Borough and Redeveloper in connection with the development of the Project Area by Redeveloper. The Borough hereby affirms and agrees that Redeveloper is designated and appointed as the exclusive redeveloper of the Redevelopment Area. In connection with such designation and appointment, Redeveloper has the exclusive right to perform and to have others perform any and all redevelopment activities on and about the Redevelopment Area. Further, the Borough agrees that, absent an Event of Default by Redeveloper or with respect to any Holder’s rights, it will not negotiate for the provision of another redeveloper or developer for the Redevelopment Area or any portion thereof.

Designation as Redeveloper. The Town hereby designates and appoints the Redeveloper as redeveloper of the Project on the Project Area. Any prior designations of entities or redevelopers other than Redeveloper are hereby rescinded. For so long as this Redevelopment Agreement and the designation hereunder remain in effect, Redeveloper shall have the exclusive right to redevelop the Project Area in accordance with the Redevelopment Plan, the Governmental Approvals, the Redevelopment Law and all other Applicable Laws, and the terms and conditions of this Redevelopment Agreement.