Common use of Acceptance, Assumption and Acknowledgment Clause in Contracts

Acceptance, Assumption and Acknowledgment. (a) Effective as of the Effective Time, the General Partner hereby accepts PDI’s assignment of the GP Membership Interests pursuant to Section 1(a) and hereby acknowledges and agrees to be bound by the terms of the Alpha LLC Agreement as a member of Alpha LLC and assumes and agrees to perform all of PDI’s agreements and obligations existing or arising with respect to the GP Membership Interests.

Acceptance, Assumption and Acknowledgment. (a) Effective as of the Effective Time, the General Partner hereby accepts PDI’s assignment of the GP Membership Interests pursuant to Section 1(a) and hereby acknowledges and agrees to be bound by the terms of the Alpha LLC Agreement Agreements as a member of Alpha LLC the Contributed Entities and assumes and agrees to perform all of PDI’s agreements and obligations existing or arising with respect to the GP Membership Interests.