Sale or Transfer of the Property Clause Samples

Sale or Transfer of the Property. This Agreement, which shall be duly recorded in the records of Valley County, Idaho, shall run with the land comprising the Property as provided further herein, and it shall be binding upon and benefit the City, Developer and any successor in interest to any portion of the Property. No person or entity acquiring any portion of the Property shall be permitted to develop, construct, erect, or install any building, utility, improvement or landscaping which does not conform in all respects to this Agreement. In the event that Developer or a successor in interest to Developer, sells or transfers the Property, or any portion thereof, written notice of said transaction shall be given to City no less than thirty (30) days prior to the closing in connection with such transfer. This requirement shall not apply to the sale and/or transfer of platted lots.

Sale or Transfer of the Property. Any sale or transfer of the Property by LESSOR shall be subject to LESSEE’s rights under this Lease.

Sale or Transfer of the Property. The Purchaser hereby covenants and agrees not to sell, transfer or otherwise dispose of the Property, or any portion thereof (other than for individual tenant use as contemplated hereunder), without obtaining from the Purchaser’s purchaser or transferee the executed Assumption Agreement assuming the Purchaser’s duties and obligations under this Condominium Agreement and recording same in the real estate records of the County. Delivery of a recorded copy of the Assumption Agreement shall constitute conclusive evidence that the sale or transfer complies with the transfer provisions of this Section and shall automatically release Purchaser from the indemnification provisions of Paragraph 3 hereof except for any act or omission committed by Purchaser prior to the recordation date of the Assumption Agreement.

Sale or Transfer of the Property a. If the Borrower sells or otherwise transfers the Property before the repayment of the Loan in full, and in accordance with this Agreement, the Borrower shall repay the balance due on the Loan within thirty (30) calendar days after the effective date of such sale or other transfer of the Property. b. The Borrower shall not complete the sale or transfer of the Property without prior disclosure of the existence of this Agreement to the purchaser or transferree and to any agent conducting settlement, which disclosure shall be documented in writing and provided to the City prior to such sale or transfer.

Sale or Transfer of the Property. Notwithstanding any other provision of this Article 6, during the first two (2) years of the Initial Term, Tenant shall not be responsible for paying any increase of or reassessment in real estate taxes solely attributable to (i) an increase in the assessed value of the Building and/or underlying land (collectively, the “Property”) based upon a change of ownership as defined in Revenue and Taxation Code Section 61, or from major alterations, improvements, modifications or renovations to the Property, or (ii) any action, including without limitation, judicial action or action by initiative, which serves to repeal, modify and/or limit the application of Article XIIIA of the California Constitution (otherwise known as Proposition 13); provided, however, that this exclusion shall not apply to any lender which forecloses on the Property or takes a deed-in-lieu of foreclosure or any transferee of such a lender (or any subsequent transfer thereafter).

Sale or Transfer of the Property. Should Licensor, at any time during the Term, sell or transfer all or any part of the Property to a third-party purchaser, such transfer shall be subject to this Agreement and Licensor shall (i) notify any such purchaser or transferee, in writing, of the existence of this Agreement prior to recording any conveyance or transfer documents, and (ii) require any such purchaser or transferee to recognize Minnesota Power’s rights under the terms of this Agreement in a written instrument signed by Licensor and the third party transferee. Licensor shall provide Minnesota Power of said written instrument within ten (10) business days after the sale or transfer of the Property. If Licensor completes any such sale or transfer without providing written notice of this Agreement or executing such a written instrument, then Licensor shall not be released from its obligations to Minnesota Power under this Agreement, and Minnesota Power shall have the right to look to Licensor and the third party for the full performance of this Agreement.

Sale or Transfer of the Property. If Government elects to sell or transfer title to the Leased Premises during the term of this Lease, Government may terminate this Lease upon ninety (90) days' written notice to LESSEE, except if LESSEE is bank or credit union, in which event Government will give 180 days' written notice.

Sale or Transfer of the Property. The Purchaser hereby covenants and agrees not to sell, transfer or otherwise dispose of the Property, or any portion thereof (other than for individual tenant use as contemplated hereunder), without obtaining from the Purchaser’s purchaser or transferee the executed Assumption Agreement assuming the Purchaser’s duties and obligations under this Condominium Agreement and recording same in the real estate records of the County.

Sale or Transfer of the Property. ▇▇▇▇▇▇ agrees that nothing in this Lease shall be construed to prevent Government from selling, assigning or otherwise transferring all or any part of Government’s fee simple interest in the Leased Premises subject to this Lease. Government shall have the right to terminate this Lease if Government sells the Leased Premises in accordance with applicable law governing the disposal by the Government during the term of this Lease. If the lease is terminated to allow the Government to sell the property, Lessee shall have the first right to buy the Leased Premises on terms no less favorable to the Government than offered to a third party. Lessee shall submit an offer to buy the property within ninety (90) days following such termination. If Government transfers all of Government’s fee simple interest in the Leased Premises subject to this Lease and the transferee assumes the same, ▇▇▇▇▇▇ agrees that any and all obligations of Government under this Lease not then accrued shall terminate with respect to Government upon the effective date of such transfer and Lessee hereby releases Government from any obligations or covenants under this Lease which have not accrued prior to such effective date except as expressly set forth in this Paragraph 15. The transferee of Government’s interest shall have the obligation to perform all of the obligations and covenants of Government under this Lease including those obligations and covenants that shall have accrued with respect to the Government prior to the effective date of such transfer.