Prohibition of Transfer of Redevelopment Agreement Sample Clauses
The Prohibition of Transfer of Redevelopment Agreement clause prevents either party from assigning or transferring their rights and obligations under the redevelopment agreement to another party without prior consent. In practice, this means that the original parties must remain involved in the agreement, and any attempt to sell, assign, or otherwise transfer the contract to a third party is not permitted unless explicitly allowed. This clause ensures that the parties maintain control over who is responsible for the redevelopment project, thereby reducing the risk of unwanted or unqualified parties becoming involved and protecting the interests of all stakeholders.
Prohibition of Transfer of Redevelopment Agreement. Redeveloper further agrees for itself, its successors and assigns, that prior to the Completion of the Project, as evidenced by the issuance of a Certificate of Completion, Redeveloper will not make or create, or suffer to be made or created, any assignment or other Transfer of its interests in this Agreement, without the prior written approval of the Township, except as provided in Section 8.1 above, Section 8.2 above or Section 8.4 below (including a Transfer as a result of a foreclosure or a deed in lieu given to a lender).