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1 2 5 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Section 12. First Parties, and each of them, reserve the right to convey or transfer any or all of the properties re­ferred to in Section 1 hereof at any time prior to the sale date to one or more of First Parties, or to some other affiliated cor­poration, upon the condition that such transferee shall assume the obligation to eonvey and transfer said properties to the District upon the sale date in accordance with the provisions of this agree­ment, Regardless of such conveyances and transfers between the First Parties or their affiliated corporations, First Parties shall not be relieved of their obligations hereunder to convey or cause to be conveyed such properties to the District at the times and subject to the conditions herein referred to. The obligation of the First Parties to eonvey, or to cause to be conveyed, said prope ties to the District at the times and subject to the conditions herein provided shall be subject to the ability of First Parties, or their said successor or successors in ownership, to obtain such approval of applicable governmental authorities, including the Nevada Public Service Commission, as may be required. When the es­crow referred to in Section 7 hereof shall have been opened, or at such earlier time as the parties hereto mutually agree, First Parti£ or such of them as may be concerned therewith, shall file with the Public Service Commission of the State of Nevada application reques ing authority of the said Commission to transfer such of said prope^ ties as are then maintained and operated as a public utility for the furnishing of water to the inhabitants of the City of Las Vegas to the District in accordance with the provisions of this agreement y/