12 Guam Code Ann. § 83108
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Terms Used In 12 Guam Code Ann. § 83108
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Trustee: A person or institution holding and administering property in trust.
To facilitate the purpose of this Act and provide security for the holders of any financing instruments issued pursuant to this Act, the contractor/developer may assign, without the need of the consent of the Guam Economic Development Authority, the contract, the lease, and the lease-back to any underwriter, trustee, or other party as appropriate to facilitate the contractor/developer financing.