Assignment; Assumption. Effective immediately prior to the Closing, BWRI hereby assigns all of its right, title and interest, and delegates all of its obligations and liabilities, in and to the Purchase Agreement to Empire, and Empire accepts such rights, title and interest, and fully assumes such obligations and liabilities, from BWRI (the “Assignment”). Although not required under the Purchase Agreement, the Seller Parties hereby consent to the Assignment, and acknowledge that all rights and obligations of BWRI as “Purchaser” under the Purchase Agreement shall automatically become the rights and obligations of Empire.
Appears in 3 contracts
Sources: Assignment and Amendment Agreement, Assignment and Amendment Agreement (Basin Water, Inc.), Assignment and Amendment Agreement (Empire Water CORP)