Common use of Intent and Effect Clause in Contracts

Intent and Effect. It is the intent of the CLT and of the Lessee, and the effect of this Lease, to permit the free alienation of the Lessee's interest in the Land and Improvements, subject to certain limitations on price (outlined in this Article X) which are designed to ▇▇▇▇▇▇ the charitable purposes outlined in the recitals and in the Lessee's Letter of Acknowledgment by (i) conserving the CLT subsidy; (ii) limiting the inflationary effect of any appreciation in the value of the Improvements; and (iii) restricting resale of the Lessee's interests to other low or moderate income families (as defined in Section 10.2 below).