Common use of Assumption by Transferee Clause in Contracts

Assumption by Transferee. Each Assignee shall assume all obligations of Licensee under this Master License and shall be and remain liable jointly and severally with Licensee for the payment of the Rent and additional charges, and for the performance of all of the terms, covenants, conditions and agreements herein contained on Licensee's part to be performed. No Assignment shall be binding on City unless Licensee or Assignee shall deliver to City evidence satisfactory to City that it has obtained all permits, licenses, or other approvals required to operate as a wireless telecommunications service provider on the Premises, a counterpart of the Assignment (or other document reasonably satisfactory to the City in the event of an Assignment permitted under Section 17.6 (Permitted Assignment)) and an instrument in recordable form that contains a covenant of assumption by such Assignee satisfactory in substance and form to City, and consistent with the requirements of this Section. However, the failure or refusal of such Assignee to execute such instrument of assumption shall not release such Assignee from its liability as set forth above. Except for a permitted Assignment as provided in Section 17.6, Licensee shall reimburse City on demand for any reasonable costs that may be incurred by City in connection with any proposed Assignment, including, without limitation, the costs of making investigations as to the acceptability of the proposed Assignee and legal costs incurred in connection with the granting of any requested consent.

Assumption by Transferee. Each Assignee Transferee shall assume all obligations of Licensee Tenant under this Master License Lease and shall be and remain liable jointly and severally with Licensee Tenant for the payment of the Base Rent and additional chargesAdditional Charges, and for the performance of all of the terms, covenants, conditions and agreements herein contained on LicenseeTenant's part to be performed. No Assignment shall be binding on City unless Licensee Tenant or Assignee Transferee shall deliver to City evidence satisfactory to City that it has obtained all permits, licenses, or other approvals required to operate as a wireless telecommunications service provider on the Premises, a counterpart of the Assignment (or other document reasonably satisfactory to the City in the event of an Assignment assignment permitted under Section 17.6 (Permitted Assignment)) and an instrument in recordable form that contains a covenant of assumption by such Assignee Transferee satisfactory in substance and form to City, and consistent with the requirements of this Section. However, the failure or refusal of such Assignee Transferee to execute such instrument of assumption shall not release such Assignee Transferee from its liability as set forth above. Except for a permitted Assignment assignment to a general partner or affiliate of Tenant as provided in Section 17.6, Licensee Tenant shall reimburse City on demand for any reasonable costs that may be incurred by City in connection with any proposed Sublease or Assignment, including, without limitation, the costs of making investigations as to the acceptability of the proposed Assignee Transferee and legal costs incurred in connection with the granting of any requested consent.consent.‌