Common use of Effect and Duration of Covenants Clause in Contracts

Effect and Duration of Covenants. It is intended and agreed that the covenants and restrictions set forth in Section 3.2 shall be covenants running with the land. All covenants in Section 3.2, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided in this Agreement, shall be binding, to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by the Borough and its successors and assigns, and any successor in interest to the Property, the Project, or any part thereof, against Redeveloper, its successors and assigns and every successor in interest therein, and any party in possession or occupancy of the Property or any part thereof. Notwithstanding the foregoing, the agreements and covenants set forth in Section 3.2 shall cease and terminate upon (1) termination of this Agreement prior to Commencement of Construction or

Effect and Duration of Covenants. It is intended and agreed that the covenants and restrictions set forth in Section 3.2 3.02 shall be covenants running with the land. All covenants in Section 3.23.02, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided in this Agreement, shall be binding, to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by the Borough Authority and its successors and assigns, and any successor in interest to the Property, the Project, or any part thereof, against Redeveloper, its successors and assigns and every successor in interest therein, and any party in possession or occupancy of the Property or any part thereof. Notwithstanding the foregoing, the agreements and covenants set forth in Section 3.2 Article 3.02 shall cease and terminate upon (1the issuance of a Certificate of Completion for such improvements, provided however, that the covenant in Section 3.02(c) termination of this Agreement prior shall remain in effect without limitation as to Commencement of Construction ortime.

Effect and Duration of Covenants. It is intended and agreed that the covenants and restrictions set forth in Section 3.2 3.02 shall be covenants running with the land. All covenants in Section 3.23.02, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided in this Redevelopment Agreement, shall be binding, to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by the Borough Township and its successors and assigns, and any successor in interest to the Property, the Project, or any part thereof, against Redeveloper, its successors and assigns and every successor in interest therein, and any party in possession or occupancy of the Property or any part thereof. Notwithstanding the foregoing, the agreements and covenants set forth for in Section 3.2 shall cease and terminate upon (1) termination of this Agreement prior to Commencement of Construction orSection