Assignment and Assumption of Service Agreements Clause Samples
The Assignment and Assumption of Service Agreements clause governs the transfer of rights and obligations under existing service contracts from one party to another. In practice, this clause typically requires the original party to formally assign its interests in service agreements—such as maintenance, supply, or vendor contracts—to a new party, who then assumes responsibility for fulfilling the terms of those agreements. This provision ensures continuity of services and clarifies which party is liable for ongoing obligations, thereby preventing disputes and service interruptions during transitions such as business sales or reorganizations.
Assignment and Assumption of Service Agreements. A signed counterpart to the Assignment and Assumption of Service Agreements.
Assignment and Assumption of Service Agreements. An assignment and assumption agreement (the “Assignment and Assumption of Service Agreements”) assigning to Contributee the Service Agreements which Contributee has agreed to assume pursuant to Section 7 of this Agreement, including any contract for improvements and repairs at the Property entered into by Contributor for the benefit of Contributee pursuant to Section 11(a) hereof.
Assignment and Assumption of Service Agreements. The ----------------------------------------------- Assignment of Service Agreements executed by Buyer or its approved designee, whereby Buyer or its approved designee assumes and agrees to perform the obligations from and after the Closing under the service Contracts.
Assignment and Assumption of Service Agreements. An assignment in the form attached hereto as Exhibit "L", duly executed, assigning and transferring to Buyer all of Seller's interest in and to the Service Agreements to Buyer (to the extent being assured by Buyer as herein provided)and providing for the assumption thereof by Buyer. Unless notified to the contrary by Buyer by notice delivered at least thirty (30) days prior to Closing, Seller shall terminate all existing management, leasing and brokerage agreements relating to the
Assignment and Assumption of Service Agreements. An ----------------------------------------------- assignment of the transferable service agreements to be assigned as listed in Schedule D-8, to Buyer or its approved designee, which assignment shall provide --- for Buyer or its approved designee to assume and agree to perform the obligations from and after the Closing under those service agreements ("Assignment of Service Agreements").