ASSUMPTION OF OBLIGATIONS BY ASSIGNEE. The Assignee assumes and covenants and agrees to be responsible for all obligations relating to the Assigned Interests to the extent such obligations arise or accrue on or after the date hereof (collectively, the “Assumed Obligations”) and agrees that it will be bound by the Credit Agreement and the other Documents to the extent of the Assumed Obligations as fully as if it had been an original party to the Credit Agreement.
ASSUMPTION OF OBLIGATIONS BY ASSIGNEE. Assignee has and by these presents does hereby fully assume and agrees to perform and timely discharge from and after the Effective Date all liabilities, duties and obligations of the Assignor that are attributable to the ownership of the Assigned Rights, including, without limitation, all liabilities, duties and obligations of the Assignor that arise under the Registration
ASSUMPTION OF OBLIGATIONS BY ASSIGNEE. As of the Effective Date, pursuant to Section 24.8 of the Purchase Agreement: (a) Assignor irrevocably and unconditionally assigns and Assignee irrevocably and unconditionally assumes and agrees to pay and perform the obligations of the Assignor for the due and punctual payment of the principal of and Make-Whole Amount (if any) and interest on the Notes and the performance of each and every other covenant and obligation of the Issuer under the Purchase Agreement and the Notes, whether such obligations are incurred before, on or after the Effective Date; (b) Assignor shall no longer be deemed to be the Issuer (or an Obligor) under the Purchase Agreement and the Notes and shall be released from all of its obligations thereunder; and (c) Assignee shall be deemed to be the Issuer (and an Obligor) under the Purchase Agreement and the Notes and shall enjoy all of the rights and benefits, and shall perform all of the obligations, of the Issuer (and an Obligor) under the Purchase Agreement and the Notes. At any time on or after the Effective Time, any Noteholder may tender to the Assignee its Note in exchange for a substitute note payable by the Assignee, but the foregoing assumption by the Assignee of the Purchase Agreement and the Notes shall be fully effective regardless of whether any such tender and exchange occurs.
ASSUMPTION OF OBLIGATIONS BY ASSIGNEE. Either Partner assigning its rights and obligations hereunder in connection with an assignment permitted under this Article 23, or as approved in writing by the other Partner, shall procure, as a condition precedent to the assignment, (a) a written assumption agreement from the assignee thereof to the effect that the assignee accepts and assumes all obligations of the assignor under this Agreement and agrees to be fully and unconditionally bound by the terms and provisions of this Agreement and (b) a new Conditional Transfer Agreement executed by the assignee on the same terms and conditions as the Conditional Transfer Agreement of the assignor (the Conditional Transfer Agreement of the assignor shall be contemporaneously cancelled). Upon the delivery of such assumption agreement by the assignee, the assigning Partner, except in connection with an assignment to an Affiliate, shall be released from obligations and liabilities with respect to events occurring subsequent to the assignment.
ASSUMPTION OF OBLIGATIONS BY ASSIGNEE. (a) Assignee agrees to assume all of the duties and obligations of Assignor under the Franchise Documents and shall be entitled to all of Assignor's rights, title and interest in and to the Love's #1027 and the Franchise Documents.
