Assumption of Lease. If Tenant becomes a Debtor under Chapter 7 of the Bankruptcy Code ("Code") or a petition for reorganization or adjustment of debts is filed concerning Tenant under Chapters 11 or 13 of the Code, or a proceeding is filed under Chapter 7 of the Code and is transferred to Chapters 11 or 13 of the Code, the Trustee or Tenant, as Debtor and as Debtor-In-Possession, may not elect to assume this Lease unless, at the time of such assumption, the Trustee or Tenant has:
Assumption of Lease. Assignee (a) acknowledges its obligations to perform the Assignor’s obligations under the Lease; (b) agrees to keep and perform all of the covenants, conditions and agreements of Assignor arising under or in connection with the Lease after the Effective Date of this Assignment; and (c) agrees to assume certain obligation to Landlord for certain rental arrearages owed by Assignee, as set forth in Sections 5(a) and 11 of this Amendment.
Assumption of Lease. If Tenant becomes a Debtor under Chapter 7 of the Bankruptcy Code ("Code") or a petition for reorganization or adjustment of debts is filed concerning Tenant under Chapters 11 or 13 of the Code, or a proceeding is filed under Chapter 7 of the Code and is transferred to Chapters 11 or 13 of the Code, the Trustee or Tenant, as Debtor and as Debtor-In-Possession, may not elect to assume this Lease unless, at the time of such assumption, the Trustee or Tenant has: Cured all defaults under the Lease and paid all sums due and owing under the Lease or provided Landlord with "Adequate Assurance" (as defined below) that:(i) within ten (10) days from the date of such assumption, the Trustee or Tenant will completely pay all sums due and owing under this Lease and compensate Landlord for any actual pecuniary loss resulting from any existing default or breach of this Lease, including without limitation, Landlord's reasonable costs, expenses, accrued interest, and attorneys' fees incurred as a result of the default or breach; (ii) within twenty (20) days from the date of such assumption, the Trustee or Tenant will cure all non-monetary defaults and breaches under this Lease, or, if the nature of such non-monetary defaults is such that more than twenty (20) days are reasonably required for such cure, that the Trustee or Tenant will commence to cure such non-monetary defaults within twenty (20) days and thereafter diligently prosecute such cure to completion; and (iii) the assumption will be subject to all of the provisions of this Lease.
Assumption of Lease. Each permitted assignee or transferee shall assume and be deemed to have assumed the obligations of Tenant under this Lease to be performed, or arising or accruing, on and after the effective date of such assignment or transfer and shall be and remain liable jointly and severally with Tenant for the payment of Annual Fixed Rent and Additional Rent, and for the due performance of all the terms, covenants, conditions and agreements herein contained on Tenant’s part to be performed for the Lease Term. No assignment shall be binding on Landlord unless such assignee or Tenant shall deliver to Landlord a duplicate original of the instrument of assignment which contains a covenant of assumption by the assignee of all of the obligations aforesaid and shall obtain from Landlord the aforesaid written consent, prior thereto. No assignment in whole or in part of this Lease shall release Tenant or any assignee of Tenant of its continuing liability under this Lease.
Assumption of Lease. 17 18.1.1 Definition of Adequate Assurances............................................ 17 18.2
Assumption of Lease. Assignee accepts the assignment of the Lease from Assignor described in paragraph 1 above and assumes and agrees to perform all of the obligations and duties of Assignor under the Lease to the extent arising or accruing under the Lease from and after the Closing Date.
Assumption of Lease. THIS ASSIGNMENT AND ASSUMPTION OF LEASE (this “Assignment”) is made as of the [ ] day of [ ], 2020 (the “Assumption Date”), by and between ADVANSOURCE BIOMATERIALS CORPORATION, a Delaware corporation, as assignor (“Assignor”), and MITSUBISHI CHEMICAL PERFORMANCE POLYMERS, INC., a Delaware corporation, as assignee (“Assignee”).
Assumption of Lease. Each transferee, other than Landlord, shall expressly assume all obligation of Tenant under this Lease and shall be and remain liable jointly and severally with Tenant for the payment of rent and additional charges, and for the performance of all the terms, covenants, conditions and agreement herein contained with respect to that portion of the Premises identified in Tenant's notice to Landlord pursuant to Section 15.2 above. No Assignment or Sublease shall be binding on Landlord, unless the transferee or Tenant shall deliver to Landlord an executed counterpart of the Assignment or Sublease which contains covenants of assumption satisfactory in substance and form to Landlord, and consistent with the requirements of this Article; provided that the failure or refusal of such party to execute such instrument or assumption shall not release or discharge the transferee from its liability as set forth above.
Assumption of Lease. Commencing as of the Effective Date, Assignee assumes all duties, obligations, and responsibilities of the "Tenant" under the Lease which accrue commencing as of the Effective Date, and Assignee agrees to be bound by and perform, observe, and discharge all of the "Tenant's" covenants, and conditions under the Lease which accrue commencing as of the Effective Date.
Assumption of Lease. The written agreement of Purchaser wherein the Purchaser agrees to assume all of the terms and conditions of the Lease and to hold Seller harmless from any liability under the Lease from and after the Closing Date. Purchaser shall pay for all fees, expenses, costs, attorneys fees (including those of the Landlord and/or its agents) associated with obtaining consent of the landlord to the Lease.
