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Step-in rights for a development agreement
Practical Law UK Standard Clause 1-517-4221 (Approx. 9 pages)
Step-in rights for a development agreement
Standard clauses creating step-in rights, primarily intended for use with Standard document, Landowner's development agreement, in a construction and engineering and property development or property finance context. Step-in rights allow one party to take the place of another, such as a funder stepping in to the shoes of an insolvent developer to complete a project.
Note that Practical Law's collateral warranties and schedules of third party rights already include step-in rights in favour of a funder.
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Resource ID 1-517-4221
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