Assumption of Operating Agreements Sample Clauses

Assumption of Operating Agreements. By execution hereof, Assignee does hereby, from and after the date hereof, assume and agree to perform all duties, obligations, and responsibilities of Assignor under the Operating Agreements and under the Construction Loan.
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Assumption of Operating Agreements. 17 4.15 Remedies..............................................................17 A. Seller's Default...................................................17 B. Buyer's Default....................................................18 4.16 Wood-Destroying Insects...............................................18 4.17 Reimbursement of Expenses.............................................18
Sample 1
Assumption of Operating Agreements. At Closing, Buyer shall assume the service, supply and maintenance agreements relating to the Subject Property selected by Buyer, if any, and designated by Buyer to Seller in a written document furnished during the Due Diligence Period. Seller shall remain responsible for, and shall indemnify, defend and hold harmless Buyer from and against any liability, loss, damage or expense relating to or arising out of action or inaction by Seller prior to Closing under any of the assumed agreements.
Sample 1
Assumption of Operating Agreements. In accordance with Section 3.3 of the Purchase Agreement, Buyer hereby notifies Seller of its election to assume the Operating Agreements set forth on Exhibit D attached hereto (to the extent assignable and assumable as indicated on Exhibit D). All other Operating Agreements not assumed by Buyer shall be terminated by Seller at Closing.
Sample 1
Assumption of Operating Agreements. Prior to the expiration of the Property Approval Period, Buyer shall notify Seller which Operating Agreements set forth on the List of Operating Agreements and Warranties set forth on Schedule 1.1
Sample 1
Assumption of Operating Agreements. Unless Purchaser terminates this Contract prior to the expiration of the Inspection Period, Purchaser may provide Seller with written notice of those Operating Agreements which are terminable without cause upon written notice or upon sale of the Property and which Purchaser desires to have terminated. Seller shall, promptly following the expiration of the Inspection Period, deliver notice of termination with respect to all Operating Agreements specified in such notice. Notwithstanding the foregoing, Seller shall terminate any property management agreement and/or exclusive leasing agreement as of the Closing Date, and such termination shall be a condition to Purchaser's obligation to close the purchase of the Property hereunder. Notwithstanding the foregoing, it is understood and agreed that (x) Purchaser has instructed Seller to terminate the Operating Agreements listed on Exhibit C annexed hereto and made a part hereof as of Closing (and Seller has agreed to deliver a termination notice with respect to such Operating Agreements as of Closing), and (y) the Operating Agreements listed on Exhibit C hereto require at least 30 days prior notice of termination, accordingly, Purchaser shall assume the Operating Agreements set forth on Exhibit C hereto to the extent such terminations are not effective yet as of Closing due to such notice requirement.
Sample 1
Assumption of Operating Agreements. During the Inspection Period, Purchaser shall notify Seller as to which Operating Agreements, if any, Purchaser will assume for the Property and which Operating Agreements for such Property shall be terminated by Seller at Closing. Purchaser will assume the obligations first accruing and arising from and after the Closing Date under those Operating Agreements which Purchaser has elected to assume. Seller shall terminate at Closing all Operating Agreements that are not so assumed. Notwithstanding the foregoing, Seller shall terminate at Closing, and Purchaser shall not assume, any property management or leasing agreement affecting the Property.
Sample 1
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Related to Assumption of Operating Agreements

  • Statement of Operations Statement of Changes in Net Assets.

  • Assumption Agreements In the event that any assumption agreement or substitution of liability agreement is entered into with respect to any Mortgage Loan subject to this Agreement in accordance with the terms and provisions of the Pooling and Servicing Agreement, the Master Servicer shall notify the Custodian that such assumption or substitution agreement has been completed by forwarding to the Custodian the original of such assumption or substitution agreement, which copy shall be added to the related Custodial File and, for all purposes, shall be considered a part of such Custodial File to the same extent as all other documents and instruments constituting parts thereof.

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and incorporated herein by this reference.

  • TRANSFER OF OPERATIONS Purchaser shall be entitled to immediate possession of, and to exercise all rights arising under, the Assets from and after the time that the Restaurants open for business on the Closing Date, and operation of the Restaurants shall transfer at such time (the "Effective Time"). Except as expressly provided in this Agreement, all profits, losses, liabilities, claims, or injuries arising before the Effective Time shall be solely to the benefit or the risk of Seller. All such occurrences after the Effective Time shall be solely to the benefit or the risk of Purchaser. The risk of loss or damage by fire, storm, flood, theft, or other casualty or cause shall be in all respects upon Seller prior to the Effective Time and upon the Purchaser thereafter.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

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

  • Acquisition Agreements If the Equipment is subject to any Acquisition Agreement, Lessee, as part of this lease, transfers and assigns to Lessor all of its rights, but none of its obligations (except for Lessee's obligation to pay for the Equipment conditioned upon Lessee's acceptance in accordance with Paragraph 6), in and to the Acquisition Agreement, including but not limited to the right to take title to the Equipment. Lessee shall indemnify and hold Lessor harmless in accordance with Paragraph 19 from any liability resulting from any Acquisition Agreement as well as liabilities resulting from any Acquisition Agreement Lessor is required to enter into on behalf of Lessee or with Lessee for purposes of this lease.

  • SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

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