Assumption and Release. In connection with the purchase of any portion of the Option Interest hereunder, the Option Member shall release the Selling Member from and assume, as appropriate, such Company-related obligations and guarantees as shall relate to the transferred portion of the Option Interest and agree to indemnify and hold harmless the Selling Member with respect to all such obligations and guarantees.
Appears in 2 contracts
Samples: Operating Agreement (Udc Homes Inc), Operating Agreement (Udc Homes Inc)
Assumption and Release. In connection with the purchase of any portion of the Option Interest hereunder, the Option Purchasing Member shall release the Selling Member from and assume, as appropriate, such Company-related obligations and guarantees as shall relate to the transferred portion of the Option Interest and agree to indemnify and hold harmless the Selling Member with respect to all such obligations and guarantees.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Whitney Information Network Inc), Limited Liability Company Agreement (Whitney Information Network Inc)
Assumption and Release. In connection with the purchase of any portion of the Option Interest hereunder, the Option Member shall release the Selling Member from and assume, as appropriate, such Company-related obligations and guarantees as shall relate to the transferred portion of the Option Interest and agree agrees to indemnify and hold harmless the Selling Member with respect to all such obligations and guarantees.
Appears in 1 contract
Samples: Operating Agreement (A & B II, Inc.)
