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STATION DIST DDA WITH CRA
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STATION DIST DDA WITH CRA
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9/27/2010 1:29:49 PM
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Transfer (and it may be set forth in any applicable Implementation Agreement associated with <br />the Phase to which release relates). From and after any assignment or Transfer under <br />Sections 602.2(a) or (g), for all purposes of the Phase to which such assignment or Transfer <br />relates under this Agreement and the Attachment the term "Developer" shall thereafter mean <br />and refer solely and exclusively to the assignee or Transferee, and not to the original Developer <br />hereunder or the assignee or Transferee of any other Phase. <br />In the event of a Transfer by the Developer under subparagraphs a through , <br />inclusive, above not requiring the Ag ne x s prior approval, the Developer nevertheless agrees <br />that at least ten 10 days prior to such Transfer it shall give ri tt n notice to the Agency of such <br />Transfer and satisfactory evi d enc a that the Transferee has assumed jointly with the Developer <br />the obligations of this Agreement. <br />602.3 A e n u Consideration of requested Transfer. The Agency agrees that <br />it will not unreasonably withhold approval of a request made pursuant to this Section 602, <br />provided the Developer delivers written notice to the Agency requesting such approval. Such <br />notice shall be accompanied by sufficient evidence regarding the proposed assigncels or <br />transferee's applicable operational qualifications and experience, and its financial commitments <br />and resources, in sufficient detail to enable the Agency to evaluate the proposed assignee or <br />purchaser pursuant to the criteria set forth in this Section 602 and as reasonably determined by <br />the Agency. The Agency shall evaluate each proposed transferee or assignee on the basis f its <br />applicable development and/or qualifications as it relates to a proposed transferee who is <br />obligated to complete the Developer Improvements, and experience in the operation of facilities <br />sirnil ar to the Developer Improvements, and its financial commitments and resources, and may <br />reasonably disapprove any proposed transferee or assignee, during the period for which this <br />Section 602 applies, which the Agency determines does not possess equal or better qualifications <br />than the transferring Developer. An assignment, assumption and release agreement in form <br />satisfaetort to the Airencar's legal counsel shall also be required for all proposed assignments. <br />Within thirty o d a s after the receipt of the Developer's ri t tern notice requesting Agency <br />approval of an assignment or transfer pursuant to this Section 602, the Agency shall either <br />approve or disapprove such proposed assignment or transfer, or shall respond in writing by <br />stating what further information, if any, the Agency reasonably requires in order to determine the <br />request complete and d e tune whether or not to grant the requested approval. Upon receipt of <br />such a response, the Developer shall promptly furnish to the Agency such further information as <br />may be reasonably requested. <br />602.4 Successors and Assigns. All of the terms, covenants and conditions of <br />this Agreement shall be binding upon the Developer and its permitted successors and assigns. <br />Whenever the term "Developer" is used in this Agreement, such term shall include any other <br />permitted suuc ss ors and assigns as herein provided. <br />602.5 . s i nm n t by Agency. The Agency may assign or transfer any of its <br />rights or obligations under this Agreement with the approval of the Developer, w h i h approval <br />shall not he unreasonably withheld; provided, however, that the Agency may assign or transfer <br />any of its interests hereunder to the City at any time without the consent of the Developer. <br />DO 1400673 Y 14!20}272 -0001 <br />
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