Accounts Payable. Any indebtedness, accounts payable, liabilities or obligations of any kind or nature related to the Company or the Property for the periods prior to the Effective Time shall be allocated to the Interest Owners, and Buyer shall not be or become liable therefor, except as expressly assumed by Buyer pursuant to this Contract, and invoices received in the ordinary course of business prior to Closing shall be allocated to the Interest Owners at Closing.
Appears in 18 contracts
Samples: Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Nine, Inc.), Purchase Contract (Apple REIT Ten, Inc.)
Accounts Payable. Any indebtedness, accounts payable, liabilities or obligations of any kind or nature related to the Company or the Property for the periods prior to the Effective Cutoff Time shall be allocated to the Interest Owners, and Buyer shall not be or become liable therefor, except as expressly assumed by Buyer pursuant to this Contract, and invoices received in the ordinary course of business prior to Closing shall be allocated to the Interest Owners at Closing.
Appears in 4 contracts
Samples: Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.), Purchase Contract (Apple REIT Seven, Inc.)
Accounts Payable. Any indebtedness, accounts payable, liabilities or obligations of any kind or nature related to the Company or to any or all of the Property Properties for the periods prior to the Effective Cutoff Time shall be allocated to the Interest Owners, and Buyer shall not be or become liable therefor, except as expressly assumed by Buyer pursuant to this Contract, and invoices received in the ordinary course of business prior to Closing shall be allocated to the Interest Owners at Closing.
Appears in 1 contract
Samples: And (Apple Reit Six Inc)
