Common use of Permitted Transfers by Developer Clause in Contracts

Permitted Transfers by Developer. Notwithstanding any other provision of this Agreement to the contrary, Agency approval of an assignment of this Agreement or conveyance of the Agency Parcels, the Residential Structures or the Improvements, or any part thereof, shall not be required in connection with any of the following: a. Any transfers to an entity or entities in which the Developer or its shareholders, members of their immediate families, or trusts for their benefit, retain a minimum of fifty-one percent (51 %) of the ownership or beneficial interest and retains management and control of the transferee entity or entities; or b. The conveyance or dedication of any portion of the Agency Parcels to the City or other appropriate governmental agency, or the granting of easements or permits to facilitate construction of the Improvements.

Permitted Transfers by Developer. Notwithstanding any other provision of this the Agreement to the contrary, Agency approval of an assignment of this the Agreement or conveyance of the Agency Parcels, the Residential Structures or the Improvements, or any part thereof, shall not be required in connection with any of the following: a. Any transfers to an entity or entities in which the Developer or its shareholders, members of their immediate families, or trusts for their benefit, retain a minimum of fifty-one percent (51 %) of the ownership or beneficial interest and retains management and control of the transferee entity or entities; or b. The conveyance or dedication of any portion of the Agency Parcels to the City or other appropriate governmental agency, or the granting of easements or permits to facilitate construction of the Improvements.

Permitted Transfers by Developer. Notwithstanding any other provision of this Agreement to the contrary, Agency approval of an assignment of this Agreement or conveyance of the Agency Parcels, the Residential Structures Parcels or the Improvements, or any part thereof, shall not be required in connection with any of the following: a. Any transfers to an entity or entities in which the Developer or its shareholders, members of their immediate families, or trusts for their benefit, retain a minimum of fifty-one percent (51 %) of the ownership or beneficial interest and retains management and control of the transferee entity or entities; or b. The conveyance or dedication of any portion of the Agency Parcels to the City or other appropriate governmental agency, or the granting of easements or permits to facilitate construction of the Improvements.