Laserfiche WebLink
assume all of the obligations of the Developer under this Agreement relating to the <br />Property and agree to be subject to all the conditions and restrictions to which the <br />Developer is subject. There shall be submitted to the Agency for review all <br />instruments and other legal documents proposed to effect any such Transfer; and if <br />approved by the Agency its approval shall be indicated to the Developer in writing. <br />In the absence of specific written agreement by the Agency, no Transfer by <br />Developer shall be deemed to relieve the Developer or any other Party from any <br />obligations under this Agreement. <br />After filing the Certificate of Completion for a portion of the Property, no <br />approval under this Agreement is needed for a Transfer of any portion of the <br />Property. <br />5.04 Exception to Prohibition Against Transfer. <br />Subject to the restrictions of this Article Five, Developer may at any time, <br />without limitation, and without the necessity of approval from the Agency, make a <br />Transfer of the Property or any part thereof or any interest therein or any <br />improvements thereon or of this Agreement, to: (i) a subsidiary, affiliate, parent or <br />other entity which controls, is controlled by, or is under common control with <br />Developer; (ii) a successor corporation related to Developer by merger, consolidation, <br />non -bankruptcy reorganization, or government action; or (iii) a joint venture in <br />which Developer or any successor to Developer under the preceding clauses (i) to (iii) <br />is a venturer or partner. <br />Article Six: GENERAL REMEDIES DURING DEVELOPMENT <br />6.01 Scope of Remedies. <br />During the development of the Improvements, and prior to the issuance of a <br />Certificate of Completion for such Improvements hereof, the following shall govern <br />the Parties' remedies for breach of the Agreement. <br />6.02 No Fault of Parties. <br />The following events constitute a basis for a Party, otherwise allowed by this <br />Agreement, to terminate this Agreement, without the fault of the other: <br />Disposition and Development Page 14 of 30 <br />Agreement - Vanuatu Properties Draft December 4, 1997 <br />