Assumption of Leases an assumption of the Leases and security deposits, which will include an indemnification by Buyer of Seller for all landlord obligations accruing on or after the Date of Closing; and
Assumption of Leases. Assignee hereby assumes and agrees to perform, fulfill and comply with all covenants and obligations to be performed, fulfilled or complied with by the landlord under the Leases accruing from and after the Closing Date, including, but not limited to, payment of all valid claims made by the Tenants with respect to the tenant security deposits, to the extent such security deposits were assigned, and were either paid or credited, to Assignee by Assignor. Assignor shall remain responsible for all Assignor's obligations under or with respect to the Leases accruing prior to the Closing Date.
Assumption of Leases. The Property is currently subject to the following lease or rental agreements (the “Leases”): - [Name of Lease Agreement] by and between Seller and [Name of Tenant], dated [date of Lease] - [Lease Two] In accordance with the required disclosures under this Agreement, Seller shall provide Buyer with copies of all lease or rental agreements. Seller represents and warrants that (a) the Transaction does violate the terms of the Leases and (b) Seller will notify existing tenants under the Leases of the change in ownership prior to the Closing. At the Closing, Seller shall deliver to Buyer an Assignment and Assumption of Lease Agreement for each Lease, as well as all security deposits and advanced payments related the Leases.
Assumption of Leases. (Check one) ☐ The Property is NOT currently being leased. ☐ The Property is currently subject to the following lease or rental agreements (the “Leases”): _______________________________________________________________________ In accordance with the required disclosures under this Agreement, Seller shall provide Buyer with copies of all lease or rental agreements. Seller represents and warrants that (a) the Transaction does violate the terms of the Leases and (b) Seller will notify existing tenants under the Leases of the change in ownership prior to the Closing. At the Closing, Seller shall deliver to Buyer an Assignment and Assumption of Lease Agreement for each Lease, as well as all security deposits and advanced payments related the Leases.
Assumption of Leases. Buyer shall be entitled, without any -------------------- acceleration, modification or termination thereof, (i) to assume Seller's rights under the Fullerton, California facility lease attached hereto as Exhibit 6.13A, ------------- (ii) to use the Palos Verdes, California condominium in accordance with the terms and conditions of its lease attached hereto as Exhibit 6.13B and (iii) to enter into Leases with respect to the South ------------- Haven, Michigan facility satisfactory to Buyer in form and substance. Buyer, in its sole discretion, shall have the right to request any instruments modifying such leases and confirming the validity of such assignment and the consent of the Lessor thereto in the form of an assumption agreement as reasonably requested by Xxxxx.
Assumption of Leases. An Assignment and Assumption of Leases, by which Buyer will assume all obligations of Seller under the Leases which arise from and after the Closing Date and containing customary cross-indemnification provisions.
Assumption of Leases. Purchaser shall assume and fully discharge as they become due all liabilities and obligations arising after the Determination Date under the Leases.
Assumption of Leases. (Check one) ☐ The Property is NOT currently being leased. ☐ The Property is currently subject to the following lease or rental agreements (the “Leases”): In accordance with the required disclosures under this Agreement, Seller shall provide Buyer with copies of all lease or rental agreements. Seller represents and warrants that (a) the Transaction does violate the terms of the Leases and (b) Seller will notify existing tenants under the Leases of the change in ownership prior to the Closing. At the Closing, Seller shall deliver to Buyer an Assignment and Assumption of Lease Agreement for each Lease, as well as all security deposits and advanced payments related the Leases.
Assumption of Leases. Immediately upon execution of this Agreement, Purchaser or the Company will assume the obligations for the existing office and parking lease obligations of the Company in Jacksonville, Florida. Upon Closing, Purchaser or the Company will assume the obligations for the existing office and parking lease obligations of the Company in Charlotte, North Carolina. Purchaser will indemnify and hold Seller harmless from and against any liability with respect thereto arising after the Closing. Purchaser will use its reasonable best efforts to obtain releases in favor of Seller but Closing is not conditioned upon the obtaining of any releases.
Assumption of Leases. Assignee hereby accepts the assignment of Assignor’s right, title and interest in, to and under the Leases, and hereby assumes all of the obligations of Assignor under the Leases first arising from and after the Effective Date and agrees, for the benefit of Assignor, to perform and comply with all the terms and agreements contained in the Leases on the part of the landlord or lessor thereunder to be performed and complied with from and after the Effective Date.
