Purchase by Assignee Sample Clauses
The 'Purchase by Assignee' clause allows a party who has been assigned rights or obligations under a contract (the assignee) to purchase certain assets, interests, or goods originally subject to the agreement. In practice, this means that if the original party transfers their contractual position to another entity, the new party (assignee) gains the right to complete the purchase as specified in the contract, often under the same terms and conditions. This clause ensures continuity in contractual relationships and provides flexibility for parties to transfer their interests without disrupting the underlying transaction.
Purchase by Assignee. The Assignee reserves the right to bid for the property whether by itself or its agent or the Auctioneer (without payment of any deposit whatsoever). In the event the Assignee is declared the Purchaser, then the purchase price or so much as is applicable shall be set off against the indebtedness owing to the Assignee under the loan and security documentation on the date of sale, plus costs and expenses for the sale or incidental thereto.