Assumption Agreement Sample Clauses
An Assumption Agreement is a contractual provision where one party agrees to take on the obligations, liabilities, or responsibilities of another party under an existing contract. In practice, this often occurs during the transfer of assets or business interests, such as when a buyer assumes the seller's duties under a lease or service agreement. The core function of this clause is to ensure a clear and legally binding transfer of obligations, thereby protecting the original party from future liability and providing certainty to all parties involved.
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Assumption Agreement. The Buyer shall have executed and delivered to the Seller the Assumption Agreement.
Assumption Agreement. An assumption agreement for the Assumed Liabilities, substantially in the form and to the effect of Exhibit H attached hereto (the “Assumption Agreement”); and
Assumption Agreement. Under the terms of the proposed transfer, the proposed transferee shall assume the Loan, without modification, under the terms of an assumption agreement and additional documentation reasonably satisfactory to the Lender in form and substance.
Assumption Agreement. The Company will require any successor (whether direct or indirect, by purchase, merger consolidation or otherwise) to all or substantially all of the business and assets of the Company expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it whether or not such succession had taken place.
Assumption Agreement. Seller shall have received from Buyer an Assumption Agreement, in substance and form satisfactory to Seller, under which Buyer shall have assumed the Assumed Liabilities.
Assumption Agreement. A counterpart of the Assumption Agreement executed by Buyer;
Assumption Agreement. A duly executed instrument of assumption whereby Buyer shall assume the Assumed Obligations as provided herein, which instrument of assumption shall be in substantially the form of Exhibit 4.4(c) attached hereto.
Assumption Agreement. If Landlord consents to an assignment, sublease or other transfer by Tenant of all or any portion of Tenants interest under this Lease, Tenant shall execute and deliver to Landlord, and cause the transferee to execute and deliver to Landlord, an instrument in the form and substance acceptable to Landlord it) which (a) the transferee adopts this Lease and assumes and agrees to perform, jointly and severally with Tenant, all of the obligations of Tenant under this Lease, (b) Tenant acknowledges that it remains primarily liable for the payment of Annual Basic Rent, Additional Rent and other obligations under this Lease,(c)Tenant subordinates to Landlord's statutory lien, contract lien and security interest, any liens, security interests or other rights which Tenant may claim with respect to any property of transferee and (d) the transferee agrees to use and occupy the Leased Premises solely for the purpose specified in Article 20 and otherwise in strict accordance with this Lease.
Assumption Agreement. A counterpart of the Assumption Agreement executed by Seller;
Assumption Agreement. Any Assignment, Assumption and Recognition Agreement or comparable document transferring or acknowledging the transfer of a Servicing Agreement to the Trust listed on Schedule II hereto.