Common use of Assumption by Purchaser Clause in Contracts

Assumption by Purchaser. On the Closing, the Purchaser shall assume and be commensurately responsible for the observance, performance and payment of all obligations and liabilities which are to be observed, performed or paid a royaltyholder, from and after the Effective Time, under the Royalty Agreements and the Purchaser shall indemnify and save each of the Vendors harmless from and against any claims, demands, actions, suits, causes of action, losses, damages, costs and expenses whatsoever, including legal fees, suffered or incurred by the Vendors by reason of the failure of the Purchaser to perform or pay its commensurate share of any of the obligations and liabilities referred to in this section 8.1.

Assumption by Purchaser. On the Closing, the Purchaser shall assume and be commensurately responsible for the observance, performance and payment of all applicable obligations and liabilities liabilities, if any, relating to the Royalties under the Property Sale Agreements assigned to the Purchaser, which are to be observed, performed or paid a royaltyholder, under such Property Sale Agreements from and after the Effective Time, under the Royalty Agreements and the Purchaser shall indemnify and save each of the Vendors harmless from and against any claims, demands, actions, suits, causes of action, losses, damages, costs and expenses whatsoever, including legal fees, suffered or incurred by the Vendors by reason of the failure of the Purchaser to perform or pay its commensurate share of any of the obligations and liabilities referred to in this section 8.1.