ASSUMPTION OF CONTRACT Sample Clauses

ASSUMPTION OF CONTRACT. As of the Effective Date, Assignee hereby undertakes, accepts, and assumes the assignment of the Contract and assumes all duties and obligations of the Assignor under the Contract and covenants to perform and discharge the same as the Assignee of the Assignor.
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ASSUMPTION OF CONTRACT. Residents who wish to cancel their contract and remain enrolled may avoid the 80% penalty by finding a non-contracted, eligible student to assume their contracts. The following conditions apply. 1. The resident must notify the DOR, at the time of cancellation, of his/her intention to find someone to assume the contract. (a) At the time of cancellation, the resident will be billed the 80% penalty. If within 30 days, the resident has found a non-contracted, eligible student to assume the contract, and that individual takes official possession of keys, the 80% penalty will be removed. If after 30 days a non-contracted eligible student has not been found to assume the contract the resident will forfeit the option of contract assumption. 2. In all cases, the resident canceling his/her contract will forfeit the unused portion of the prepayment. The individual assuming the contract will be required to submit a new prepayment. 3. The resident canceling the contract will be released from the contract as of the date that the assuming individual executes a contract and checks-in to the apartment. At that time the new resident becomes responsible for all of the contract terms. 4. In Xxxxxxxxxxx court, the individual assuming the contract must be the same gender as the remaining residents of the apartment. In SUV shared apartments, the individual assuming the contract must be the same gender as the remaining residents of the apartment, unless the remaining resident signs agreement to accept a specific apartment mate of the opposite gender.
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ASSUMPTION OF CONTRACT. 1.1 Effective March 15th, 2008 (the "Closing Date") and upon the terms and subject to the conditions of this Agreement, UMS shall assume the contract CCM has with U.S. Silver. 1.2 UMS agrees to pay CCM 75 percent of the profits from the contract for a period of one year (March 15, 2000 through March 15, 2009). 1.3 UMS agrees to make a payment to CCM of $200,000 on or before the Closing Date. The payment will be deducted from the profit percentage.
Sample 1
ASSUMPTION OF CONTRACT. Furthermore, CSFBi, the Vendor and the Company hereby agree upon a transfer of the Sale Option Rights from the Vendor to CSFBi, by way of an assumption of contract (Vertragsübernahme) upon which CSFBi hereby assumes the Vendor’s contractual position under the Option Conditions to the full extent and hereby becomes a party to the Option Conditions in lieu of the Vendor.
Sample 1
ASSUMPTION OF CONTRACT. Assignee hereby accepts all of Assignor’s right, title and interest in, to and under the Contract, agrees to be bound by the Contract, and assumes all duties, obligations and liabilities of Assignor accruing under or with respect to the Contract accruing from and after the Effective Date; provided, that as between Manager and Assignee, from and after the Effective Date, Assignee shall be deemed to have assumed, and shall be responsible for, all duties, obligations and liabilities of “Owner” accruing under or with respect to the Contract irrespective of the date on which such duties, obligations and liabilities accrued.
Sample 1
ASSUMPTION OF CONTRACT. The Consultant acknowledges that the Company is, and has been, in active negotiations with its senior secured lenders over a restructuring of the indebtedness owed to such lenders. The Consultant further acknowledges that while as of the date hereof no agreement has been reached between the Company and its senior secured lenders with respect to such a restructuring, it is possible that a restructuring could be implemented by the Company's filing of a reorganization proceeding under the applicable bankruptcy laws. The Company covenants and agrees that if it files for any reorganization proceeding under the applicable bankruptcy laws, then it will seek to assume and honor all of its obligations under this Agreement by filing an appropriate motion with the Bankruptcy Court on the first day of any such bankruptcy filing or as soon as practicable thereafter, subject to the Company's rights to terminate this Agreement as expressly provided herein.
Sample 1
ASSUMPTION OF CONTRACT. Assignee hereby accepts the assignment described in paragraph 1 above and assumes and undertakes to pay, perform and discharge each and every one of the obligations of Assignor under the Contract as if Assignee had originally executed the same.
Sample 1
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Related to ASSUMPTION OF CONTRACT

  • FORMATION OF CONTRACT This proposed purchase contract, which incorporates by reference these General Provisions and all other terms and conditions set forth in this proposed purchase contract (collectively, the “Contract”), is Buyer's offer to purchase the services and any related goods, materials, and/or other deliverables (collectively, the “Services”) described in this offer. Acceptance is strictly limited to the terms and conditions included in this offer. Unless specifically agreed to in writing by Xxxxx's Authorized Procurement Representative, Xxxxx objects to, and is not bound by, any term or condition that differs from or adds to this offer. Seller's commencement of performance or acceptance of this offer in any manner shall conclusively evidence acceptance of this offer as written. Seller’s provision of the Services shall be governed solely by this Contract. Xxxxx and Seller are referred to herein as a “Party” or collectively as the “Parties.”

  • Assumption of Agreement Employer shall require any Successor thereto, by agreement in form and substance reasonably satisfactory to Executive, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. Failure of Employer to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle Executive to compensation from Employer in the same amount and on the same terms as Executive would be entitled hereunder if Employer had terminated Executive’s employment Without Cause as described in Section 7, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination.

  • Assignment of Contract A. Unless expressly agreed to elsewhere in the Contract, no assignment by a party hereto of any rights under or interests in the Contract will be binding on another party hereto without the written consent of the party sought to be bound; and, specifically but without limitation, money that may become due and money that is due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment, no assignment will release or discharge the assignor from any duty or responsibility under the Contract Documents.

  • MODIFICATION OF CONTRACT This Contract may be supplemented, amended or modified only by a writing signed by both Parties. No oral conversation, promise or representation by or between any officer or employee of the Parties shall modify any of the terms or conditions of this Contract. COMMISSION shall not be deemed to have approved or consented to any alteration of the terms of this Contract, including its Exhibits, by virtue of COMMISSION’s review and approval of, or failure to object to, contracts or other business transactions entered into by CONTRACTOR.

  • EXECUTION OF CONTRACT 20.1 Depending on the type of service provided, one of the following methods will be employed. The method applicable to this contract will be checked below: _ a. PURCHASE ORDER, unless otherwise noted. 1. This contract shall consist of a Lancaster County Purchase Order. 2. A copy of the Bidder’s bid response (or referenced bid number) attached and that the same, in all particulars, becomes the contract between the parties hereto: that both parties thereby accept and agree to the terms and conditions of said bid documents.

  • Extension of Contract The Director of Procurement Services may, with the consent of the contractor extend the Contract period beyond the indicated expiration date.

  • Assumption of Agreements Subject to the provisions of Section 4.8(b), with respect to agreements existing as of the Bank Closing Date which provide for the rendering of services by or to the Failed Bank, within ninety (90) days after the Bank Closing Date, the Assuming Institution shall give the Receiver written notice specifying whether it elects to assume or not to assume each such agreement. Except as may be otherwise provided in this Article IV, the Assuming Institution agrees to comply with the terms of each such agreement for a period commencing on the day after the Bank Closing Date and ending on: (i) in the case of an agreement that provides for the rendering of services by the Failed Bank, the date which is ninety (90) days after the Bank Closing Date, and (ii) in the case of an agreement that provides for the rendering of services to the Failed Bank, the date which is thirty (30) days after the Assuming Institution has given notice to the Receiver of its election not to assume such agreement; provided that the Receiver can reasonably make such service agreements available to the Assuming Institution. The Assuming Institution shall be deemed by the Receiver to have assumed agreements for which no notification is timely given. The Receiver agrees to assign, transfer, convey and deliver to the Assuming Institution all right, title and interest of the Receiver, if any, in and to agreements the Assuming Institution assumes hereunder. In the event the Assuming Institution elects not to accept an assignment of any lease (or sublease) or negotiate a new lease for leased Bank Premises under Section 4.6 and does not otherwise occupy such premises, the provisions of this Section 4.8(a) shall not apply to service agreements related to such premises. The Assuming Institution agrees, during the period it has the use or benefit of any such agreement, promptly to pay to the Receiver or to appropriate third parties at the direction of the Receiver all operating costs with respect thereto and to comply with all relevant terms of such agreement.

  • Assumption Agreement The Buyer shall have executed and delivered to the Seller the Assumption Agreement.

  • Assignment of Contracts GSAM agrees to assign (or cause to be assigned) to GSRP or OpCo without recourse, representation or warranty (except as expressly set forth in this Agreement), all of GSAM’s or such Affiliate’s right, title and interest in and to, and GSRP agrees to assume, or cause OpCo to agree to assume, the obligations of GSAM or such Affiliate’s obligations under, each of the Contracts set forth on Section 6.18 of the GSRP Disclosure Letter (collectively the “Assigned Contracts”), pursuant to documentation (the “Assigned Contracts Documentation”) in form and substance consistent with this Section 6.18 and otherwise in form and substance satisfactory to the Parties. GSAM has made available, or caused to be made available, to GSRP true and correct copies of the Assigned Contacts. Except as provided below, GSAM shall remain responsible for paying and satisfying, and shall protect, defend, indemnify and hold harmless GSRP from, all Liabilities related to or arising from the Assigned Contracts, to the extent such Liabilities relate to or arise from the period prior to the Closing. GSRP shall be responsible for paying and satisfying, and shall protect, defend, indemnify and hold harmless GSAM from, all Liabilities related to or arising from the Assigned Contracts, to the extent such Liabilities relate to or arise from the period on or after the Closing. Notwithstanding the second preceding sentence, in the case of any Assigned Contract that prior to the Closing was for the benefit of the GSRP Entities, from and after the Closing GSRP shall protect, defend, indemnify and hold harmless GSAM from, all Liabilities, related to or arising from such Assigned Contract, to the extent GSRP is required to do so under the Management Agreement. Without limiting the foregoing, OpCo shall remain responsible for, and shall pay and discharge when due all Liabilities that constitute Company Expenses (as defined in the OpCo LLC Agreement) that were incurred prior to the Closing.

  • DURATION OF CONTRACT This agreement shall be in effect for 12 months beginning October 1, 2019 and ending September 30, 2020.

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