Assumption by Borrower. Borrower hereby acknowledges and agrees that it hereby (i) assumes and promises to keep and perform all covenants and obligations on Original Borrower's part to be performed under all of the Loan Documents to the same extent as if Borrower were the original signatory thereto, and (ii) assumes and promises to pay the outstanding principal balance of the Note, with interest thereon, and all other sums required to be paid to Lender in accordance with the provisions of the Note and other Loan Documents, and to perform, comply with and abide by each and every one of the covenants, agreements and conditions contained and set forth in the Loan Documents.
Assumption by Borrower. Borrower hereby assumes and agrees to pay ---------------------- and perform all the obligations ("Assumed Obligations") of Acquisition at the times, in the amounts, and in the manner as provided in the Term Loan Documents, and to comply and be bound by all the terms and conditions of the Term Loan Documents, as amended hereby, upon the same terms and with the same effect as though Borrower had originally joined in the execution of the Term Loan Documents. No payment or discharge of any of the Assumed Obligations or of any lien or security interest securing the Assumed Obligations is intended by this Assumption Agreement and all security for the Assumed Obligations shall continue in full force, unimpaired from the date of the execution, attachment and perfection of the Term Loan Documents pertaining thereto. Nothing contained herein and nothing done pursuant hereto shall affect or be construed to affect any warranties of title granted in the Term Loan Documents (except that any warranty that Acquisition is the owner of any collateral given to Lender as security for the Obligations shall be deemed to be changed so as to warrant that Borrower is the owner of such collateral) or to subordinate the priority of the liens, security interests, assignments and charges granted under the Term Loan Documents to other liens, security interests, assignments and charges of any kind.
Assumption by Borrower. Borrower hereby assumes each and every obligation of Lakewood Associates under the Loan Documents whenever accruing, including, particularly, but without limitation, the obligations of the Note and the exclusions from non-recourse liability set forth in the Loan Documents, and Borrower agrees to perform all obligations of Borrower under the Loan Documents and to pay to Lender the sums due and to become due under the Loan Documents as fully as if Borrower had executed the Loan Documents on the date thereof as Borrower. Notwithstanding anything contained herein to the contrary, Borrower does not assume any liability for or with respect to (i) any breach by Lakewood Associates of any of its representations or warranties contained in the Loan Documents, or (ii) the payment or performance (or nonpayment or failure to perform) by Lakewood Associates of any of its covenants, agreements or obligations under or pursuant to the Loan Documents, the payment or performance of which became due (or the nonpayment or failure to perform occurred) prior to the date of Borrower’s purchase of the Property and agreement to assume the obligations of Lakewood Associates hereunder. Lender hereby consents to the assumption by Borrower as contemplated herein.
Assumption by Borrower. The Borrower acknowledges and agrees that, by virtue of the Merger it has assumed, and it does hereby expressly assume, all of Old Lawsxx'x xxxhts, liabilities and obligations under the Existing Credit Agreement and the other Existing Loan Documents (other than the Existing Term Note), as such documents are amended and restated by or in connection with this Agreement. Without limiting the generality of the forgoing, Borrower does hereby grant, to the Bank a security interest in all of its assets that constitute "Collateral" under the Existing Security Agreement.
Assumption by Borrower. The Borrower hereby assumes all the rights, responsibilities and liabilities of Original Borrower on the Loan Documents and the Unsecured Indemnity Agreement and agrees to pay to the Lender, its successors, endorsees, and assigns, all sums that are presently due or hereafter become due and payable on such Loan Documents and Unsecured Indemnity Agreement. Without limiting the generality of the foregoing, the Borrower agrees to pay all sums under the Loan Documents and Unsecured Indemnity Agreement at the time, in the manner, and in all other respects as therein provided, to perform all the obligations provided in the Loan Documents and Unsecured Indemnity Agreement at the time, in the manner, and in all other respects as therein provided or as otherwise agreed in writing, and to be bound by all of the terms of the Loan Documents and Unsecured Indemnity Agreement, as fully and to the same extent as though such Loan Documents and Unsecured Indemnity Agreement, and each of them had originally been made, executed and delivered by the Borrower. In amplification thereof, all references in the Loan Documents and Unsecured Indemnity Agreement to "Maker", "Borrower", "Debtor", "Indemnitor" or similar terms previously intended to describe the Original Borrower thereunder shall hereafter be deemed to refer to the Borrower. The foregoing covenants and agreements are in addition to and not in limitation of the assumption provisions contained in the deed of conveyance from the Original Borrower to the Borrower.
Assumption by Borrower. Borrower hereby assumes and agrees to perform all of the duties, obligations and promises of Original Borrower as set forth in or arising under the Loan Documents, to be bound by all of the terms, conditions and provisions of the Loan Documents and to do any and all acts and things required under the Loan Documents to be done by Original Borrower, except to the extent modified in this Agreement.
Assumption by Borrower. (a) For value received, Borrower hereby assumes and promises to pay the indebtedness of Borrower evidenced by the Loan Documents (the “Indebtedness”) at the times, in the manner and in all respects as therein provided and as herein modified, and agrees to be bound by and to perform and comply with each and every covenant, condition and obligation of the Original Borrower from and after the date hereof contained in the Loan Documents as though the Loan Documents had originally been made, executed and delivered by Borrower.
