Common use of Assignment and Assumption of Leases Clause in Contracts

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined), , a (“Assignor”), does hereby assign, sell, transfer, set over and deliver to (“Assignee”), all of its right, title and interest in and to the leases and/or licenses more particularly described on Exhibit A attached hereto and incorporated herein, all of which are in full force and effect (the “Leases”), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real Property”). Assignee hereby accepts the foregoing assignment and assumes and agrees to perform and observe all of the obligations, covenants, terms and conditions to be performed or observed by the landlord under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assignee.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Plymouth Industrial REIT Inc.)

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Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONFor valuable consideration, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined), 10000 XXXXXXXXX XXXX INVESTORS LP, a Delaware limited partnership (the “Assignor”), does hereby assignassigns, selltransfers and delegates to ____________________________, transfer, set over and deliver to a ____________________________ (the “Assignee”), and Assignee hereby agrees to assume and accept the assignment and delegation of all of its Assignor’s right, title and interest interest, except for Assignor’s right to collect delinquent rent, in and to the Landlord’s rights and obligations under the leases and/or licenses and the security deposits relating to the property known as Commerce Plaza Hillcrest and more particularly described on Exhibit A attached hereto hereto. The leases and incorporated herein, all of which are in full force and effect security deposits (the “Leases”), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described ) are listed on Exhibit B attached hereto hereto. By accepting this Assignment and made a part hereof Assumption of Leases (this “Assignment”) and by its execution hereof, Assignee assumes the “Real Property”). Assignee hereby accepts the foregoing assignment payment and assumes performance of, and agrees to pay, perform and observe discharge, all of the obligationsdebts, covenants, terms duties and conditions obligations to be paid, performed or observed by the landlord under the Leases arising discharged from and after the Closing Date. Assignor hereby acknowledges that Assignor has retaineddate hereof, and Assignee shall not assume by the “landlord” or be responsible forthe “lessor” under the terms, any of the obligations, covenants, terms covenants and conditions of the Leases, including, without limitation, brokerage commissions and compliance with respect the terms of the Leases and applicable laws relating to obligations to be performed or observed by the landlord thereunder arising at any time prior tenant improvements and security deposits. Subject to the Closing Date or rights accruing limitation on liability in Section 11.16 of that certain Purchase and Sale and Escrow Agreement dated March 12, 2015 between Assignor and Assignee, which shall apply to landlord prior to and expressly limit Assignor’s indemnification obligations hereunder, for a period of six (6) months from the Closing Date. date hereof (“Survival Period”), Assignor hereby agrees to protect, defend, shall indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, against and hold each of them Assignee harmless from any and all claimscost, liabilitiesliability, damages, and penalties and any and all loss, costdamage or expense, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any the Assignor’s failure by Assignor to perform and observe its obligations under the obligations, covenants, terms and conditions retained Leases to the extent arising before the date hereof (except for obligations relating to the physical or environmental condition of the Property which have been assumed by Assignor hereunderAssignee). Assignee hereby agrees shall give written notice to protectAssignor of any claims for indemnification hereunder within the Survival Period, defendand, if such notice is not given to Assignor by Assignee within the Survival Period, Assignee’s right to seek indemnification hereunder with respect to any such claims shall be of no further force and effect. Assignee shall indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them against and hold each of them Assignor harmless from any and all claimscost, liabilitiesliability, damages, and penalties and any and all loss, costdamage or expense, or expense (including, without limitation, reasonable attorneys’ fees fees, originating or relating to the period on or after the date hereof and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of the Assignee’s obligations under such Leases. If any failure by litigation between Assignor and Assignee to perform and observe arises out of the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each obligations of the parties hereto further agreesunder this Assignment or concerning the meaning or interpretation of any provision contained herein, upon notice from the other, to contest any demand, claim, suit, or action against which each losing party has hereinabove agreed to indemnify and hold shall pay the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all prevailing party’s costs and expenses of such contest litigation including, without limitation, reasonable attorneys’ fees. DAL:0590722/00075:2361764v4 This Assignment may be executed and defense. The indemnities set forth herein delivered in any number of counterparts, each of which so executed and delivered shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any an original and all of which shall constitute one and the interests same instrument. This Assignment is made subject, subordinate and assets hereby transferred inferior to Assignee.the easements, covenants and other matters and exceptions set forth on Exhibit C (the “Permitted Exceptions”), attached hereto and made a part hereof for all purposes. [Signature Page Follows] Exhibit 9.3.3-2 DAL:0590722/00075:2361764v4

Appears in 1 contract

Samples: Purchase and Sale and Escrow Agreement (Hartman Short Term Income Properties XX, Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONAND IN CONSIDERATION of the sum of Ten Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date _______________, having its principal office c/x Xxxxxxx Capital Management LLC, 000 Xxxxx Xxxxxx Xxxxx, Chicago, Illinois 60606 (as hereinafter defined"Assignor"), hereby sells, a transfers, assigns and sets over unto ______________________, c/o ______________________ (“Assignor”"Assignee"), does hereby assignits legal representatives, sell, transfer, set over successors and deliver to (“Assignee”), assigns all of its Assignor's right, title and interest in in, to and under (a) those certain leases referred to the leases and/or licenses more particularly described on Exhibit A attached hereto and incorporated herein, all of which are in full force and effect (the “Leases”), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real "Leases") affecting the real estate legally described in the Agreement (as hereinafter defined) and commonly known as _____________, _____________, ___ (the "Property") and (b) the rent therein referred except, however, that portion of said rent attributable to periods of time prior to the Closing Date (as defined in that certain Agreement of Purchase and Sale by and between Assignor and Assignee dated as of ______, 201__; the "Agreement"). Assignee does hereby accepts accept the foregoing assignment Assignment and assumes Assumption of Leases subject to the terms and agrees conditions herein and in the Leases, and does hereby assume, without exculpation, as of the date hereof, and become responsible for and agree to perform perform, discharge, fulfill and observe all of the obligations, terms, covenants, terms provisions and conditions to be performed or observed by the landlord under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations agrees to be performed liable for the observance and performance thereof as fully as though Assignee was the original landlord or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Datelessor thereunder. Assignor hereby Assignee agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless Assignor, its legal representatives, successors and assigns from any and all claims, liabilitieslosses, damages, expenses, fees (including without limitation reasonable attorneys' fees), court costs, suits, judgments, liability, claims and penalties demands whatsoever in law or in equity, incurred or suffered by Assignor, its legal representatives, successors and assigns or any of them arising out of or in connection with the Leases as to events occurring from and after the Closing Date. Assignor agrees to protect, defend, indemnify and hold harmless Assignee, its legal representatives, successors and assigns from any and all losslosses, costdamages, or expense expenses, fees (including, without limitation, reasonable attorneys’ fees and costs and ' fees), court costs) incurred by Assignee incident to, resulting fromsuits, judgments, liability, claims and demands whatsoever in law or in equity, incurred or suffered by Assignee, its legal representatives, successors and assigns or any way of them arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect the Leases as to which each party has hereinabove agreed events occurring prior to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Notwithstanding anything to the contrary contained in this Assignment and Assumption of Leases, it is expressly understood and agreed by and between the parties hereto that any liability of Assignor hereunder shall be limited as set forth in Section 19 of the Agreement. This Assignment and Assumption of Leases shall be binding upon and shall inure to the benefit of Assignor and Assignee shalland their respective beneficiaries, at any time legal representatives, heirs, successors and from time to time, upon the reasonable request assigns. This Assignment and Assumption of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurancesLeases may be executed in counterparts, and take all such further actions, as so executed shall be necessary or desirable to give effect to constitute one and the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assigneesame agreement.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Glimcher Realty Trust)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined), ________________, a __________________ ("Assignor"), does hereby assign, sell, transfer, set over and deliver to ___________ ("Assignee"), all of its right, title and interest in and to the leases and/or licenses more particularly described on Exhibit A attached hereto and incorporated herein, all of which are in full force and effect (the "Leases"), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the "Real Property"). Assignee hereby accepts the foregoing assignment and assumes and agrees to perform and observe all of the obligations, covenants, terms and conditions to be performed or observed by the landlord under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys' fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys' fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assignee.

Appears in 1 contract

Samples: Lease Agreement (Plymouth Industrial REIT Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONKingston Bedford Joint Venture LLC, the receipt and sufficiency of which are hereby acknowledgedwith an address x/x Xxx Xxxx Xxxxxxx, effective as of the Closing Date (as hereinafter defined)State Street Financial Center, Xxx Xxxxxxx Xxxxxx, a 0xx Xxxxx, Xxxxxx, XX 00000 (“Assignor”), does for valuable consideration received, hereby assignassigns to , sell, transfer, set over and deliver to a having an office at (“Assignee”), ) all of its Assignor’s right, title title, interest and interest in obligations as owner of certain real property and to the leases and/or licenses improvements known as , which real property is more particularly fully described on Exhibit A A, attached hereto and incorporated herein, all of which are in full force and effect herein by this reference (the “Property”), under each lease and tenancy affecting the Property (individually, a “Tenant Lease”, and collectively, the “Tenant Leases”), which Tenant Leases are identified and described on Schedule I, attached to this Assignment and incorporated herein by this reference, together with all guaranties right, power, and authority of Assignor to alter, modify, or otherwise change the terms of the Tenant Leases and all unapplied security depositsto surrender, letters of creditcancel, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, terminate the Tenant Leases or any other person on Assignor’s behalf pursuant to the Leases (of them, and together with all rents, income, and profits arising from the Tenant Lease from and after the date of this Assignment, and from any interest which has accrued for the account renewals of the respective tenant).. The Leases affect the real property Tenant Leases, including, without limitation, any security and damage deposits described on Exhibit B attached hereto and made a part hereof (the “Real Property”)therein. Assignee hereby accepts the foregoing assignment assignment, assumes all of Assignor’s right, title, interest and assumes obligations under the Tenant Leases, and agrees to perform indemnify and observe all of the obligations, covenants, terms and conditions to be performed or observed by the landlord under the Leases arising hold harmless Assignor from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and against any and all loss, cost, or damage and expense (including, without limitation, including reasonable attorneys’ fees and costs and court costsfees) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice Tenant Leases from and after the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify date hereof. This Assignment shall benefit and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. bind Assignor and Assignee shalland the heirs, at any time and from time to timelegal representatives, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurancessuccessors, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession assigns of Assignee any and all each of the interests and assets hereby transferred to Assigneethem.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (American Financial Realty Trust)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined), Xxxxx Road, LLC, a Georgia limited liability company (“Assignor”), does hereby assign, sell, transfer, set over and deliver to Plymouth Industrial REIT, Inc., a Maryland corporation (“Assignee”), all of its the landlord’s right, title and interest in and to the leases and/or licenses more particularly described on Exhibit A attached hereto and incorporated herein, all of which are in full force and effect (the “Leases”), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. . The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real Property”). Assignee hereby accepts the foregoing assignment and assumes and agrees to perform and observe all of the obligations, covenants, terms and conditions to be performed or observed by the landlord Assignor under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignee hereby acknowledges that Assignee has assumed, and Assignor shall not be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time after to the Closing Date or rights accruing to landlord after the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, costcosts, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assignee.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Plymouth Industrial REIT Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONIN CONSIDERATION of Ten Dollars ($10.00) and other good and valuable consideration, to it in hand paid, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined)and intending to be legally bound hereby, LENOX VILLAGE PROPERTIES, LLC, a Tennessee limited liability company, LENOX VILLAGE LIFESTYLE CENTER, LLC, a Tennessee limited liability company, and LENOX VILLAGE LIFESTYLE CENTER III, LLC, a Tennessee limited liability company (collectively referred to as herein as “Assignor”), does hereby assignsells, sellassigns, transferand transfers to ______________________________, set over and deliver to a _________________ (“Assignee”), having an address of 0000 Xxxxxxxxx Xxxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000, all of its Assignor’s right, title and interest in and to the those certain leases and/or licenses more particularly described on Exhibit A in Schedule B attached hereto and incorporated hereinherein by reference (including, all of which are in full force and effect (without limitation, the “Leases”)Tenant Deposits listed therein, together with all guaranties of the Leases and all unapplied security depositsinterest, letters of creditif any, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest thereon which has accrued for the account of the respective tenant).. The Leases affect , less any administrative fees incurred prior to the real execution of this agreement) relating to the property (the “Property”) described on Exhibit B in Schedule A attached hereto and made a part hereof (the “Real Property”)incorporated herein by reference. Assignee hereby accepts the foregoing assignment and assumes accepts, assumes, and agrees to perform and observe all of the obligations, covenants, terms agreements, promises, terms, conditions and conditions provisions contained in each of the leases hereby assigned to be observed, kept, performed or observed complied with by Assignor, but only to the landlord under extent arising on or after the Leases date hereof. Assignee hereby agrees to hold Assignor harmless from any claim, demand, or cause of action which may be asserted against Assignor by any person arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retaineda breach, and Assignee shall not assume violation, or be responsible for, failure to perform any provision of any of the obligations, covenants, terms and conditions of the Leases, with respect leases hereby assigned which is alleged to obligations to be performed have occurred on or observed by the landlord thereunder arising at any time prior subsequent to the Closing Date or rights accruing to landlord prior to the Closing Datedate of this Assignment. Assignor hereby agrees to protecthold Assignee harmless from any claim, defenddemand, indemnify or cause of action which may be asserted against Assignee and its successorsby any person arising from a breach, assignsviolation, affiliates, directors, officers, employees and partners or failure to perform any provision of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way the leases hereby assigned arising out of any or relating to Assignor’s failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them its obligations under the leases accruing on or prior to the date of this Assignment. This Assignment and hold Assumption may be executed in any number of counterparts, each of them harmless from any which shall be deemed an original, but all of which together shall constitute but one and all claims, liabilities, damages, the same agreement. This Assignment and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has Assumption is being delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demandthe Purchase and Sale Agreement dated as of ________ ____, claim2015, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. between Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actionsAssignee, as shall be necessary or desirable the successor-in-interest to give effect to Preferred Apartment Communities Operating Partnership, L.P. . [SIGNATURES COMMENCE ON FOLLOWING PAGE] WITNESS the transactions hereby consummated and to collect and reduce to the possession due execution hereof this ____ day of Assignee any and all of the interests and assets hereby transferred to Assignee._________________ 2015. ASSIGNOR: LENOX VILLAGE PROPERTIES, LLC, a Tennessee limited liability company By: ______________________________Name:____________________________Title: _____________________________ LENOX VILLAGE LIFESTYLE CENTER, LLC, a Tennessee limited liability company By: ______________________________Name:____________________________Title: _____________________________ LENOX VILLAGE LIFESTYLE CENTER III, LLC, a Tennessee limited liability company By: ______________________________Name:____________________________Title: _____________________________ [SIGNATURES CONTINUE ON FOLLOWING PAGE] ASSIGNEE: SCHEDULE A TO ASSIGNMENT AND ASSUMPTION OF LEASES [Real Property Description] SCHEDULE B TO ASSIGNMENT AND ASSUMPTION OF LEASES [Leases] Exhibit 9.01(e)

Appears in 1 contract

Samples: Purchase and Sale Agreement (Preferred Apartment Communities Inc)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined), BR CREEKSIDE LLC, a Delaware limited liability company (“Assignor”), does in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) in hand paid and other good and valuable consideration, the receipt of which is hereby assignacknowledged, sellhereby assigns, transfertransfers, set sets over and deliver conveys to ___________________________________, a _________________ (“Assignee”), all of its Assignor's right, title and interest in and to all leases, including any and all security deposits made by tenants pursuant to said leases, in effect at the leases and/or licenses more particularly real property legally described on Exhibit A attached hereto and incorporated hereinhereto, all of which are in full force and effect (is commonly known as the “Leases”)Reserve at Creekside Village Apartments” located in Chattanooga, together with all guaranties of the Leases and all unapplied security depositsTennessee (collectively, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real PropertyExisting Leases”). Assignee hereby accepts expressly assumes the foregoing assignment and assumes and agrees to perform and observe all of the obligations, covenants, terms and conditions to be performed or observed by the landlord under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability obligation for the return performance of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests obligations of Assignor under the Existing Leases (the “Indemnified Matters”) in respect of the period on or after the date hereof. Assignor hereby indemnifies Assignee for the Indemnified Matters prior to the date hereof and assets Assignee hereby transferred indemnifies Assignor from the Indemnified Matters from and after the date hereof. This Assignment and Assumption of Leases shall bind and inure to Assigneethe benefit of all parties hereto and their respective heirs, successors and assigns. THIS ASSIGNMENT AND ASSUMPTION OF LEASES IS MADE ON AN "AS-IS, WHERE-IS, WITH ALL FAULTS" BASIS, WITHOUT RECOURSE AND WITHOUT ANY REPRESENTATION OR WARRANTY (EXPRESS OR IMPLIED) WHATSOEVER EXCEPT AS MAY EXPRESSLY BE SET FORTH IN THE AGREEMENT OF PURCHASE AND SALE AND THIS ASSIGNMENT.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Bluerock Residential Growth REIT, Inc.)

Assignment and Assumption of Leases. AND SECURITY DEPOSITS FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are is hereby acknowledged, effective as of the Closing Date (as hereinafter defined)JY-TV ASSOCIATES, LLC, a (“Assignor”)Florida limited liability company, does hereby assignassigns and transfers to MURANO 240, sellLLC, transfera Delaware limited liability company, set over and deliver to (“Assignee”), all of its right, title and interest in and to all of the leases and/or licenses more particularly described (collectively, the "Leases”) and security deposits (collectively, the "Security Deposits") set forth on Exhibit A "B" attached hereto hereto, pertaining to the use and incorporated herein, all of which are in full force and effect (the “Leases”), together with all guaranties occupancy of the Leases and all unapplied security depositsapartment project commonly known as Murano at Grande Lakes Apartments, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, situated on the property legally described as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on follows: See Exhibit B "A" attached hereto and made a part hereof (the “Real Property”)hereof. Assignee hereby accepts the foregoing assignment and assumes and agrees to perform and observe be bound by all of the obligations, covenantsundertakings, terms duties and conditions to be performed or observed by liabilities of the landlord under the said Leases arising from and on or after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Datedate hereof. Assignor hereby agrees to protectindemnify and hold Assignee harmless from and against any claims by any tenants for an offset against rents due by any tenant by reason of Assignor's failure to perform its obligations under the Leases prior to the date hereof. Assignee hereby agrees to indemnify and hold Assignor harmless from and against any claims by any tenant by reason of Assignee's failure to perform its obligations under the Leases from and after the date hereof, defendincluding its obligations with reference to the Security Deposits assigned to Assignee. Dated: February 20, indemnify Assignee 2018. ASSIGNOR: JY-TV ASSOCIATES, LLC, a Florida limited liability company By: COURTELIS PROMENADE ASSOCIATES, LLC, its manager By: NEWCASTER DEVCORP., INC., its managing member By: /s/ Name: Exxxx Xxxxxxxxxx Title: Executive Vice President ASSIGNEE: MURANO 240, LLC, a Delaware limited liability company By: Cardone Equity Fund, LLC, a Delaware limited liability company Its: Managing Member By: Cardone Capital, LLC, a Delaware limited liability company Its: Manager By: /s/ Name: Gxxxx Xxxxxxx Title: Manager EXHIBIT “J” Unit No._________ Notice to Tenants To: All Tenants Please be advised that Murano at Grande Lakes Apartments, on the date hereof, been sold by the undersigned Seller, to MURANO 240, LLC, a Delaware limited liability company. The Purchaser, MURANO 240, LLC, hereby assumes all of Seller's obligations under the leases executed by each of you as tenant from and its successors, assigns, affiliates, directors, officers, employees and partners of any of themafter the date hereof, and hold each further specifically assumes all of them harmless from any and all claimsSeller's obligations in respect to the security deposit in the amount of $ held by Seller, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident towhatever obligation Seller may have to return same to you, resulting fromin accordance with the provisions of your lease. All future rental payments, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from including payments for any and all claimsstatements on hand, liabilitiesshould be made payable to MURANO 240, damagesLLC, and penalties and sent as follows: c/o Bridge Real Estate Group 7000 Xxxx Xxxxxxxx Xxxx Xxxx, Xxxxx 000 Xxxx Xxxxx, XX 00000 If you have any and all lossquestions, costnotify: Leasing Office at Bridge Real Estate Group, or expense telephone no.: (including000) 000-0000 Dated: February 20, without limitation2018. Seller: JY-TV ASSOCIATES, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident toLLC, resulting froma Florida limited liability company By: COURTELIS PROMENADE ASSOCIATES, or in any way arising out of any failure by Assignee to perform and observe the obligationsLLC, covenantsits manager By: NEWCASTER DEVCORP., terms and conditions assumed by Assignee hereunder; providedINC., however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assignee.its managing member By: /s/ Name: Exxxx Xxxxxxxxxx Title: Executive Vice President EXHIBIT “K”

Appears in 1 contract

Samples: Agreement of Sale (HMG Courtland Properties Inc)

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Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date (as hereinafter defined), CD REALTY STOW ROAD ASSOCIATES, LLC, a ____________ limited liability company (“Assignor”), does hereby assign, sell, transfer, set over and deliver to ___________ (“Assignee”), all of its the landlord’s right, title and interest in and to the leases and/or licenses more particularly described on Exhibit A attached hereto and incorporated herein, all of which are in full force and effect (the “Leases”), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. . The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real Property”). Assignee hereby accepts the foregoing assignment and assumes and agrees to perform and observe all of the obligations, covenants, terms and conditions to be performed or observed by the landlord Assignor under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignee hereby acknowledges that Assignee has assumed, and Assignor shall not be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time on and after the Closing Date or rights accruing to landlord after the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, costcosts, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assignee.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Plymouth Industrial REIT Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONThis Assignment and Assumption of Leases (this “Assignment”) is made as of the day of , 2006, by and between MIDDLETON INVESTORS, LLC, a Massachusetts limited liability company, having an address of c/o BPG Properties, Ltd., 000 Xxxxxxxx Xxxx Xxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxxxxxx 00000(“Assignor”) and HARVARD PROPERTY TRUST, LLC, a Delaware limited liability company, having an address of 00000 Xxxxxx Xxxxxxx, Xxxxx 000, Xxxxxxx, Xxxxx 00000-0000 (“Assignee”). In consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, effective as the Assignor hereby transfers and assigns to the Assignee all of the Closing Date (as hereinafter defined), , a (“Assignor”), does hereby assign, sell, transfer, set over and deliver to (“Assignee”), all of its ’s right, title and interest in and to the those certain leases and/or licenses more particularly described on Exhibit A attached Schedule I annexed hereto and incorporated herein, all of which are in full force and effect herein by this reference (the “Leases”) for the use and occupancy of the building commonly known and numbered as 00 Xxxxxxx Xxxx, Xxxxxxxxx, Xxxxx County (South), Massachusetts, described on Schedule II annexed hereto and incorporated herein by this reference (the “Premises”), and all of the rights, benefits and privileges thereunder, including without limitation any modifications, extensions and renewals thereof, and in the rents, charges, fees, and payments in lieu of rents, charges or fees therefrom, and in any and all other rents, income, and profits derived by Assignor from said Premises, including without limitation claims with respect to past due rents or other claims against the tenants under the Leases (the “Tenants”), together with any security deposits, advance rentals, reservation deposits and cleaning deposits set forth in said Schedule I (collectively, the “Deposits”), and all guaranties guarantees, if any, of the Leases. The Assignee hereby accepts the assignment of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real Property”). Assignee hereby accepts the foregoing assignment and assumes and agrees to perform be bound by and to perform, from and after the date hereof, Assignor’s obligations, covenants and agreements under the Leases, and Assignee further assumes all liability of Assignor from and after the date hereof for the proper refund or return of the Deposits if, when, and as required by the terms of the Leases or otherwise by law. Assignor shall defend with counsel reasonably approved by Assignee, indemnify and hold harmless Assignee from and against any liability, damages, causes of action, expenses, and attorneys’ fees incurred by Assignee by reason of the failure of Assignor to fulfill, perform, discharge, and observe all its obligations with respect to the Leases, and the Deposits accruing or arising before the Closing Date. Assignee shall defend with counsel reasonably approved by Assignor, indemnify and hold harmless Assignor from and against any liability, damages, causes of action, expenses, and attorneys’ fees incurred by Assignor by reason of the obligationsfailure of Assignee to fulfill, covenantsperform, terms discharge, and conditions observe the obligations assumed by it under this instrument with respect to be performed or observed by the landlord under the Leases and the Deposits arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, This Assignment shall be binding upon and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior inure to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, or in any way arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each benefit of the parties hereto further agreesand their respective heirs, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify successors and hold the other assigns and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive governed by the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request laws of the otherCommonwealth of Massachusetts. This Assignment is executed in multiple counterparts, execute, acknowledge and deliver each of which shall constitute an original for all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assigneepurposes.

Appears in 1 contract

Samples: Escrow Agreement (Behringer Harvard Opportunity REIT I, Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONAND IN CONSIDERATION of the sum of Ten Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date XXXX Grand Reserve, LLC, a Delaware limited liability company, having its principal office c/x Xxxxxxx Capital Management LLC, 000 Xxxxx Xxxxxx Xxxxx, Chicago, Illinois 60606 (as hereinafter defined"Assignor"), hereby sells, transfers, assigns and sets over unto [To be formed DE LLC], a Delaware limited liability company, 0000 Xxxxxx Xxxxxx, 00xx Xxxxx, Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000 (“Assignor”"Assignee"), does hereby assignits legal representatives, sell, transfer, set over successors and deliver to (“Assignee”), assigns all of its Assignor's right, title and interest in in, to and to under (a) the leases and/or licenses more particularly described with the tenants referred to on Exhibit A attached hereto and incorporated herein, all of which are in full force and effect (the “Leases”), together with all guaranties of the Leases and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the "Leases") affecting the real estate legally described in the Agreement (as hereinafter defined) and commonly known as the Grand Reserve Apartments, Naperville, DuPage County, Illinois (the "Property") and (b) the rent therein referred except, however, that portion of said rent attributable to periods of time prior to the Closing Date (as defined in that certain Agreement of Purchase and Sale by and between Assignor and Assignee dated as of ______, 2015; the Real PropertyAgreement”). Assignee does hereby accepts accept the foregoing assignment Assignment and assumes Assumption of Leases subject to the terms and agrees conditions herein and in the Leases, and does hereby assume, without exculpation, as of the date hereof, and become responsible for and agree to perform perform, discharge, fulfill and observe all of the obligations, terms, covenants, terms provisions and conditions to be performed or observed by the landlord under the Leases arising from and after the Closing Date. Assignor hereby acknowledges that Assignor has retained, and Assignee shall not assume or be responsible for, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations agrees to be performed liable for the observance and performance thereof as fully as though Assignee was the original landlord or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Datelessor thereunder. Assignor hereby Assignee agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless Assignor, its legal representatives, successors and assigns from any and all claims, liabilitieslosses, damages, expenses, fees (including without limitation reasonable attorneys' fees), court costs, suits, judgments, liability, claims and penalties demands whatsoever in law or in equity, incurred or suffered by Assignor, its legal representatives, successors and assigns or any of them arising out of or in connection with the Leases as to events occurring from and after the Closing Date. Assignor agrees to protect, defend, indemnify and hold harmless Assignee, its legal representatives, successors and assigns from any and all losslosses, costdamages, or expense expenses, fees (including, without limitation, reasonable attorneys’ fees and costs and ' fees), court costs) incurred by Assignee incident to, resulting fromsuits, judgments, liability, claims and demands whatsoever in law or in equity, incurred or suffered by Assignee, its legal representatives, successors and assigns or any way of them arising out of any failure by Assignor to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, or in any way arising out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect the Leases as to which each party has hereinabove agreed events occurring prior to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Notwithstanding anything to the contrary contained in this Assignment and Assumption of Leases, it is expressly understood and agreed by and between the parties hereto that any liability of Assignor hereunder shall be limited as set forth in Section 19 of the Agreement. This Assignment and Assumption of Leases shall be binding upon and shall inure to the benefit of Assignor and Assignee shalland their respective beneficiaries, at any time legal representatives, heirs, successors and from time to time, upon the reasonable request assigns. This Assignment and Assumption of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurancesLeases may be executed in counterparts, and take all such further actions, as so executed shall be necessary or desirable to give effect to constitute one and the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assigneesame agreement.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Resource Real Estate Opportunity REIT II, Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONFor valuable consideration, the receipt and sufficiency of which are is hereby acknowledged, effective as of the Closing Date (as hereinafter defined)Cherokee North Kansas City, LLC, a Delaware limited liability company, having an address of _______________________________________ (“Assignor”), does hereby assignassigns, selltransfers and delegates to Northtown Business Center, transferL.L.C., set over and deliver to a Missouri limited liability company, having an address of __________________________ (“Assignee”), and Assignee hereby accepts the assignment, transfer and delegation of, all of its Assignor’s right, title and interest in and to to, the leases and/or licenses more particularly described on Exhibit A attached hereto (the “Leases”) and incorporated hereinthe unapplied non-cash security deposits held by Assignor under and pursuant to the Leases, all of which are in full force and effect listed on Exhibit A attached hereto (the “LeasesSecurity Deposit”), together with all guaranties of which Leases and Security Deposits relate to the property known as 100 Xxxx 00xx Xxxxxx, Xxxxx Xxxxxx Xxxx, Xxxxxxxx, and Assignee does further hereby agree to assume all of Assignor’s duties, obligations and liabilities under and pursuant to the terms of the Leases from and all unapplied security deposits, letters of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, after the date hereof. Assignee acknowledges that as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which Security Deposits, Assignee has accrued received a credit therefor from Assignor at the closing of Assignee’s acquisition of the Property and is therefor responsible for the account proper handling and return of all such Security Deposits to the respective tenant).. The Leases affect tenants entitled thereto as provided in the real property described on Exhibit B attached hereto and made a part hereof (the “Real Property”)Leases. Assignee hereby accepts the foregoing assignment and assumes and agrees to perform perform, on and observe after the date hereof, all of the obligationsterms, covenants, terms obligations and conditions required to be performed or observed by landlord under the Leases, provided, however that Assignor shall remain responsible for the performance of all of the terms, covenants, obligations and conditions required to be performed by landlord under the Leases arising for the period prior to the date hereof. Assignor, by these presents, does, for itself and for its successors and assigns, hereby indemnify and hold harmless Assignee, and its successors and assigns, from and after the Closing Date. Assignor hereby acknowledges that Assignor has retainedagainst all and every manner of action and actions, and Assignee shall not assume cause or be responsible forcauses of action, any suits, debts, sums of the obligationsmoney, accounts, reckonings, bills, covenants, terms and conditions of the Leasescontracts, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protectcontroversies, defendagreements, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, and hold each of them harmless from any and all claims, liabilitiestrespasses, damages, judgments, costs, expenses, attorneys' fees, penalties, fines, settlements, claims, orders and penalties demands whatsoever, of every nature and any and all lossdescription, costwhether at law or in equity, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by Assignee incident to, resulting from, arising from or in any way arising out pertaining to the obligations of any failure landlord under the Leases prior to the date hereof. Assignee, by Assignor to perform these presents, does, for itself and observe the obligationsfor its successors and assigns, hereby indemnify and hold harmless Assignor, and its successors and assigns, from and against all and every manner of action and actions, cause or causes of action, suits, debts, sums of money, accounts, reckonings, bills, covenants, terms and conditions retained by Assignor hereunder. Assignee hereby agrees to protectcontracts, defendcontroversies, indemnify Assignor and its successorsagreements, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilitiestrespasses, damages, judgments, costs, expenses, attorneys' fees, penalties, fines, settlements, claims, orders and penalties demands whatsoever, of every nature and any and all lossdescription, costwhether at law or in equity, or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred by the Assignor incident to, resulting from, arising from or in any way arising pertaining to the obligations of landlord under the Leases following the date hereof. If any litigation between Assignor and Assignee arises out of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security deposits. Each obligations of the parties hereto further agreesunder this Assignment or concerning the meaning or interpretation of any provision contained herein, upon notice from the other, to contest any demand, claim, suit, or action against which each losing party has hereinabove agreed to indemnify and hold shall pay the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all prevailing party’s costs and expenses of such contest litigation, including without limitation reasonable attorney’s fees. This Agreement may be executed and defense. The indemnities set forth herein delivered in any number counterparts, each of which so executed and delivered shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any an original and all of which shall constitute one and the interests same instrument. Nothing in this Assignment and assets hereby transferred Assumption of Leases is intended to, or shall be construed to, confer upon or given to Assignee.any person, firm or corporation other than the parties hereto any right, remedy or claim under or by reason of this instrument. All terms and conditions in this instrument shall be for the sole and exclusive benefit of the parties hereto. EXECUTED as of the _____ day of __________________, ____. ASSIGNOR: Cherokee North Kansas City, LLC, a Delaware limited liability company By: _____________________________ Name: Title: ASSIGNEE: Northtown Business Center, L.L.C., a Missouri limited liability company By: _____________________________ Name: Title: EXHIBIT A List of Leases and Security Deposits EXHIBIT 9.1.3

Appears in 1 contract

Samples: Purchase and Sale Agreement (Maxus Realty Trust Inc.)

Assignment and Assumption of Leases. FOR VALUABLE CONSIDERATIONKNOW ALL MEN that CRP II - XXXXX PLACE LLC, the receipt and sufficiency of which are hereby acknowledged, effective as of the Closing Date a Delaware limited liability company (as hereinafter defined“Assignor”), in consideration of Ten ($10.00) Dollars and other good and valuable consideration, received from , a (“AssignorAssignee”), does hereby assign, sell, transfer, set over transfer and deliver to (“unto Assignee”), all of its right, title and interest in and to the leases and/or licenses leases, together with all security deposits presently held by Assignor in connection therewith (collectively, the “Leases”) affecting the premises known as VILLAGE AT XXXXX PLACE more particularly described on Exhibit Schedule A attached hereto annexed hereto. TO HAVE AND TO HOLD the same unto Assignee, its successors and incorporated hereinassigns, all forever, from and after the date hereof, subject to the terms, covenants, conditions and provisions hereof and of which are in full force and effect said Leases. AND Assignee does hereby acknowledge receipt of said Leases (including the “Leases”), together with all guaranties of the Leases and all unapplied security deposits) so delivered, letters and does hereby (a) accept the within assignment, (b) assume the performance of credit, prepaid rentals, unapplied cleaning fees and other unapplied deposits paid or deposited by any tenant thereunder to Assignor, as landlord, or any other person on Assignor’s behalf pursuant to the Leases (together with any interest which has accrued for the account of the respective tenant).. The Leases affect the real property described on Exhibit B attached hereto and made a part hereof (the “Real Property”). Assignee hereby accepts the foregoing assignment and assumes and agrees to perform and observe all of the obligationsterms, covenants, terms covenants and conditions of the said Leases on the part of the lessor/Assignor thereunder which are to be performed or observed by the landlord under the Leases arising arise from and after the Closing Date. Assignor hereby acknowledges that Assignor has retaineddate hereof, and Assignee shall not assume or be responsible for(c) indemnify, any of the obligations, covenants, terms and conditions of the Leases, with respect to obligations to be performed or observed by the landlord thereunder arising at any time prior to the Closing Date or rights accruing to landlord prior to the Closing Date. Assignor hereby agrees to protect, defend, indemnify Assignee and its successors, assigns, affiliates, directors, officers, employees and partners of any of them, defend and hold each of them Assignor free and harmless from and against any and all costs, expenses, claims, liabilities, losses or damages, liabilities and penalties and any and all loss, cost, or expense judgments (including, without limitation, including reasonable attorneys’ fees and costs disbursements) which Assignor may suffer as a direct result of any default on the part of Assignee to perform said terms, covenants and court costs) incurred by Assignee incident to, resulting from, conditions of the Leases or in any way arising out of any failure by Assignor relating to perform and observe the obligations, covenants, terms and conditions retained by Assignor hereundersecurity deposits. Assignee hereby agrees to protect, defend, indemnify Assignor and its successors, assigns, affiliates, directors, officers, employees and partners of any of them and hold each of them harmless from any and all claims, liabilities, damages, and penalties and any and all loss, cost, This assignment is made without warranty or expense (including, without limitation, reasonable attorneys’ fees and costs and court costs) incurred representation by the Assignor incident toand without recourse to the Assignor in any manner whatsoever. This assignment and assumption agreement shall inure to the benefit of Assignee and Assignor and their respective successors and assigns and shall be governed by the laws of the State of Georgia. This assignment and assumption agreement may not be modified, resulting fromaltered or amended, or its terms waived, except by an instrument in any way arising out writing signed by the parties hereto. None of the provisions of this instrument are intended to be, nor shall they be construed to be, for the benefit of any failure by Assignee to perform and observe the obligations, covenants, terms and conditions assumed by Assignee hereunder; provided, however, that to the extent Assignor has delivered tenant security deposits to Assignee and complied with applicable law, Assignor shall have no further liability for the return of such delivered tenant security depositsthird party. Each of the parties hereto further agrees, upon notice from the other, to contest any demand, claim, suit, or action against which each party has hereinabove agreed to indemnify and hold the other and all such other parties harmless, and to defend any action that may be brought in connection with any such demand, claim, suit, or action, or with respect to which each party has hereinabove agreed to hold the other and all such other parties harmless, and to bear all costs and expenses of such contest and defense. The indemnities set forth herein shall be deemed to be material and shall survive the Closing Date. Assignor and Assignee shall, at any time and from time to time, upon the reasonable request of the other, execute, acknowledge and deliver all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances, and take all such further actions, as shall be necessary or desirable to give effect to the transactions hereby consummated and to collect and reduce to the possession of Assignee any and all of the interests and assets hereby transferred to Assignee.Exhibit ASSIGNMENT AND ASSUMPTION OF LEASES

Appears in 1 contract

Samples: Shopping Center Purchase and Sale Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)

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