Common use of Purchase and Sale of CAA Interest Clause in Contracts

Purchase and Sale of CAA Interest. CAA Seller hereby unconditionally and irrevocably sells, transfers, assigns and conveys to Pure Cycle, and Pure Cycle hereby purchases and accepts from CAA Holder, all of its right, title and interest in and to CAA, including without limitation: (i) the right of CAA Holder to receive monies and other property or assets due and to become due to the CAA Holder pursuant to the CAA (including, without limitation, the CAA Holder Gross Proceeds) and (ii) all rights of the CAA Holder to compel performance and otherwise exercise all remedies thereunder (collectively, the “Transferred Interest”). Pure Cycle hereby assumes all of the obligations, liabilities, responsibilities and commitments of the CAA Holder under the CAA.