Purpose of Restrictions on Transfer Sample Clauses

Purpose of Restrictions on Transfer. This Agreement is granted to Developer solely for the purpose of development and operation of the Improvements, and its subsequent use in accordance with the terms of this Agreement, and not for speculation in landholding. Developer recognizes that, in view of the following factors, the qualifications and identity of Developer are of particular concern to the community and City: (a) The importance of the development of the Improvements to the general welfare of the community; and (b) The fact that a Transfer as defined in Section 6.1 above is for practical purposes a transfer or disposition of the fee interest in the properties then owned by Developer; and (c) The fact that the Dealership Development Parcel and the Improvements are not to be acquired, developed or used for speculation, but only for development and operation by Developer in accordance with this Agreement and the Dealership Operating Covenant; (d) The reliance by the City upon the unique qualifications and ability of Developer to serve as the catalyst for development of the properties and upon the continuing interest which Developer will have in the properties to assure the quality of the use, operation and maintenance deemed critical by the City in the development of the properties; and (e) The fact that a change in ownership or control of the owner of any portion the properties, or of a substantial part thereof, or any other act or transaction involving or resulting in a significant change in ownership or with respect to the identity of the parties in control of Developer or the degree thereof is for practical purposes a transfer or disposition of the properties.

Purpose of Restrictions on Transfer. This Agreement is entered into for the purpose of providing the Borrower with the AHIF Loan to help facilitate the renovation, and operation of the Property by the Borrower or its successors or assigns in accordance with the terms of this Agreement and the other AHIF Loan Documents. The qualifications and identity of WHDC and the Borrower or its successors or assigns, as approved by the County Staff, is of particular concern to the County Board, in view of: (1) the importance of the development and continued use of the Property as an affordable housing project to the general welfare of the community; (2) the AHIF program funds that have been made available by the County Board for the purpose of making such development and continued use possible; (3) the reliance by the County Board upon the unique qualifications and ability of WHDC to serve as the catalyst for the development and the continued use of the Property and upon the continuing interest which the Borrower will have in the Property to assure the quality of the use, operation, and maintenance deemed critical by the County Board in the development and continued use of the Property as an affordable housing development; (4) the fact that a change in ownership or control of the owner of the Property, or of a substantial part thereof, or any other act or transaction involving or resulting in a significant change in ownership or with respect to the identity of the parties in control of the Borrower or the degree thereof, is for practical purposes a transfer or disposition of the Property; and (5) the importance to the County Board of the standards of use, operation, and maintenance of the Property. It is because of the qualifications and identity of WHDC and the Borrower that the County Board is entering into this Agreement and that Transfers are permitted only as provided in this Agreement.

Purpose of Restrictions on Transfer. This Agreement is entered into for the purposes of negotiating the terms and conditions of leasing the Premises and the performance and completion of the Initial and Phased Improvements in accordance with the terms of this Agreement and the Lease The qualifications and identity of Developer are of particular concern to NPS, in view of the importance of the development of the Project to NPS. It is because of the qualifications and identity of Developer that NPS is entering into this Agreement with Developer and that a transfer or assignment of this Agreement is permitted only as provided in this Agreement.

Purpose of Restrictions on Transfer. ‌‌‌ Subject to the provisions of this Article 10, this Lease is granted to Tenant solely for the purpose of development of the Land and its subsequent use in accordance with the terms hereof, and not for speculation in landholding. Tenant recognizes that, in view of the importance of the development of the Land to the general welfare of the community, the qualifications and identity of Tenant are of particular concern to the community and Owner. Tenant further recognizes that it is because of such qualifications and identity that Owner is entering into this Lease with ▇▇▇▇▇▇ and, in so doing, is further willing to accept and rely on the obligations of Tenant for the faithful performance of all undertakings and covenants by it to be performed.

Purpose of Restrictions on Transfer. This Agreement is entered into for the purpose of the Borrower's loan modification in accordance with the terms of this Agreement. The qualifications and identity of the Borrower are of particular concern to the Agency, in view of: (a) The public aids that have been made available by law and by the government for the purpose of making such redevelopment possible; and (b) The importance of timely repayment of the Modified Loan in accordance with the terms of this Agreement so that the repaid funds may be applied by the Agency for further redevelopment activities of benefit to the Project Area and the City's other redevelopment project areas. It is because of the qualifications and identity of the Borrower that the Agency is entering into this Agreement and that Transfers are restricted as provided in this Agreement.

Purpose of Restrictions on Transfer. Section 5.2 Transfers. .....................................................................................................

Purpose of Restrictions on Transfer. This Agreement is granted to Developer solely to develop the Project and its subsequent use according to the terms hereof, and not for speculation in landholding. Developer recognizes that, in view of the importance of developing the Project to the general welfare of the City and the general community, the Developer’s qualifications and identity are of particular concern to the community and the City. Accordingly, ▇▇▇▇▇▇▇▇▇ acknowledges that it is because of such qualifications and identity that the City is entering into this Agreement with Developer, and, in so doing, the City is further willing to accept and rely on the Developer’s obligations for faithfully performing all its undertakings and covenants.

Purpose of Restrictions on Transfer. 48 Section 5.2 Transfers 49

Purpose of Restrictions on Transfer. This Agreement is entered into solely for the purpose of development and operation of the Project on the Property and subsequent use in accordance with the terms of this Agreement. The qualifications and identity of the any future Collaborating Partners and are of particular concern to the City, in view of: (a) The importance of the redevelopment, use, operation and maintenance of the Project to the general welfare of the community. (b) The fact that a change in ownership or control of the owner of the Property, or any other act resulting in a change in ownership of the parties in control of any of the Developer, is for practical purposes a transfer or disposition of the Property and the Project. (c) Restrictions on transfer are necessary in order to assure the achievement of the goals, objectives and public benefits of this Agreement. Developer agrees to and accepts the restrictions set forth in this Article 7 as reasonable and as a material inducement to City to enter into this Agreement. It is because of the qualifications and identity of the Developer that the City is entering into this Agreement with the Developer and that Transfers are permitted only as provided in this Agreement.