Common use of Applicant’s Obligations Clause in Contracts

Applicant’s Obligations. The obligations of Applicant under this Agreement will apply only during the period when it is the fee simple owner/the holder of a ground lease for the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold a ground lease interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will be the obligations of Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will shall apply only during the period when it is the fee simple owner/the holder of a ground lease for the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold a ground lease interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will shall be the obligations of the Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will apply only during the period when it is the fee simple owner/the holder of a ground lease for or fee simple interest in the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold either a ground lease or a fee simple interest in the Phase II Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will be the obligations or liabilities of Applicant’s 's successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will must apply only during the period when it is the fee simple owner/the holder of a ground lease for the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold a ground lease an ownership or leasehold interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will shall be the obligations of Applicant’s successors and/or or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will shall apply only during the period when it is the fee simple owner/the holder of a ground lease or fee simple owner for the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold either a ground lease or a fee simple interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will shall be the obligations or liabilities of Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will must apply only during the period when it is the fee simple owner/the holder owner of a ground lease for the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold a ground lease interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will must be the obligations or liabilities of Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will apply only during the period when it is the fee simple owner/the holder of a ground lease for or fee simple interest in the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold a ground lease an ownership or leasehold interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will shall be the obligations or liabilities of Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will apply only during the period when it is the fee simple owner/the holder of a ground lease for or fee simple interest in the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold either a ground lease or a fee simple interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will be the obligations or liabilities of Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will shall apply only during the period when it is the fee simple owner/the holder of a ground lease for the Property or any part thereof and only to land it leases or owns. At such time as Applicant ceases to own the Property/hold a ground lease interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will shall be the obligations of Applicant’s successors and/or assigns, to the extent permitted by law.

Applicant’s Obligations. The obligations of Applicant under this Agreement will must apply only during the period when it is the fee simple owner/the holder of a ground lease for or fee simple interest in the Property or any part thereof and only to land it leases or owns. At such time as If the Applicant ceases to own the Property/hold a ground lease an ownership or groundlease interest in the Property or any part thereof, the obligations and liabilities thereafter accruing (but not any accrued and unperformed obligations and liabilities) will must be the obligations or liabilities of Applicant’s successors and/or and assigns, to the extent permitted by law.