Assignee Assumption of Bristol Rights and Obligations Sample Clauses

Assignee Assumption of Bristol Rights and Obligations. Any assignee of the rights and obligations of Bristol must assume all of the obligations of Bristol under this Lease accruing thereafter pursuant to an Assignment and Assumption Agreement substantially in the form of the Assignment and Assumption Agreement attached hereto as Exhibit [ ], which shall be signed by the Fair Board, Bristol, and the assignee prior to the effective date of such assignment. The Fair Board and Bristol agree that any assignment of this Lease (other than a collateral assignment for financing purposes), shall be void and of no force and effect unless such Person agrees to so assume Bristol’s obligations under this Lease. For the avoidance of doubt (i) in the event Bristol merges with another Person, the surviving Person in such merger shall assume, and shall be deemed to have assumed, Bristol’s obligations under this Lease, and (ii) an Assignment by way of collateral assignment pursuant to and in connection with a financing transaction shall not require assumption of Bristol’s obligations under this Lease but must be, by its explicit terms, subject to the terms of and subordinate to this Lease and the other Project Documents.
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Related to Assignee Assumption of Bristol Rights and Obligations

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