Purchaser to be Bound Clause Samples

Purchaser to be Bound. As a condition of the sale as contemplated in Section 18.2 (b), the purchaser shall agree to be bound by this Agreement and, prior to acquiring the Interest, shall deliver notice to that effect to the Parties, in form acceptable to the Manager. The proceeds of the sale shall be applied by the non-Defaulting parties a payment of the amount due from the Defaulting Party And interest as aforesaid, and the, balance remaining, if any, shall be paid to the Defaulting Party after deducting reasonable costs of the sale. Any sale or disposal made as aforesaid shall be a perpetual bar both at law and in equity from and against any claims by the Defaulting Party and its successors and all other Parties and/or the Manager.