Allocation of Liability. It is expressly understood and agreed that the Seller shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities, and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Seller that occurred in connection with the ownership or operation of the Property during the period in which the Seller owned the Property prior to the Closing and the Purchaser shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Purchaser that occur in connection with the ownership or operation of the Property during the period in which the Purchaser owns the Property after the Closing. The provisions of this Section 12.1 shall survive the Closing.
Appears in 67 contracts
Samples: Purchase and Sale Agreement (CommonWealth REIT), Lease Agreement (Senior Housing Properties Trust), Purchase and Sale Agreement (Senior Housing Properties Trust)
Allocation of Liability. It is expressly understood and agreed that the Seller shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities, and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Seller that occurred in connection with the ownership or operation of the Property during the period in which the Seller owned the Property prior to the Closing and the Purchaser shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Purchaser that occur in connection with the ownership or operation of the Property during the period in which the Purchaser owns the Property after the Closing. The provisions of this This Section 12.1 13 shall survive the Closing.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Hospitality Properties Trust), Purchase and Sale Agreement (Hospitality Properties Trust)
Allocation of Liability. It is expressly understood and agreed that the Seller shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities, and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Seller that occurred in connection with the ownership or operation of the Property during the period in which the Seller owned the Property prior to the Closing Closing, and, subject to the terms of this Agreement and the documents delivered at Closing, the Purchaser shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Purchaser that occur in connection with the ownership or operation of the Property during the period in which the Purchaser owns the Property after the Closing. The provisions of this Section 12.1 shall survive the Closing.
Appears in 1 contract
Allocation of Liability. It is expressly understood and agreed that the Seller Sellers shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities, and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the any Seller that occurred in connection with the ownership or operation of the any Property during the period in which the such Seller owned the such Property prior to the Closing and the Purchaser shall be liable to third parties for any and all obligations, claims, losses, damages, liabilities and expenses to the extent arising out of events, contractual obligations, acts, or omissions of the Purchaser that occur in connection with the ownership or operation of the any Property during the period in which the Purchaser owns the such Property after the Closing. The provisions of this Section 12.1 shall survive the Closing.
Appears in 1 contract
Samples: Purchase and Sale Agreement (HRPT Properties Trust)