Common use of Contracts and Assumed Contracts Clause in Contracts

Contracts and Assumed Contracts. Seller shall Indemnify Buyer from and against any and all Claims that Buyer incurs by reason of (i) any alleged default on the part of the purchaser or lessee under a Contract not assigned to Buyer at Closing or (ii) any alleged default on the part of the purchaser or lessee under an Assumed Contract, where the allegation of such default is based on an event which occurred or arose (or is alleged to have occurred or arisen) prior to the Closing Date. Buyer shall Indemnify Seller from and against any and all Claims that Seller incurs by reason of any alleged default on the part of the purchaser or lessee under an Assumed Contract, where the allegation of default is based upon an event or condition which arose or occurred (or is alleged to have arisen or occurred) on or after the Closing Date.

Contracts and Assumed Contracts. Seller Sellers shall jointly and severally Indemnify Buyer from and against any and all Claims that Buyer incurs by reason of (i) any alleged default on the part of any Seller or the purchaser or lessee Manager under a Contract not assigned to Buyer at Closing or (ii) any alleged default on the part of any Seller or the purchaser or lessee Manager under an Assumed Contract, where the allegation of such default is based on an event or condition which occurred or arose (or is alleged to have occurred or arisen) prior to the Closing DateClosing. Buyer shall Indemnify Seller Sellers from and against any and all Claims that Seller incurs Sellers incur by reason of any alleged default on the part of the purchaser Buyer or lessee Buyer's hotel manager under an Assumed Contract, where the allegation of default is based upon an event or condition which arose or occurred (or is alleged to have arisen or occurred) on or after the Closing DateClosing.

Contracts and Assumed Contracts. Seller Sellers shall jointly and severally Indemnify Buyer from and against any and all Claims that Buyer incurs by reason of (i) any alleged default on the part of any Seller or the purchaser or lessee Manager under a Contract not assigned to Buyer at Closing or (ii) any alleged default on the part of any Seller or the purchaser or lessee Manager under an Assumed Contract, where the allegation of such default is based on an event or condition which occurred or arose (or is alleged to have occurred or arisen) prior to the Closing DateClosing. Buyer shall Indemnify Seller Sellers from and against any and all Claims that Seller incurs Sellers incur by reason of any alleged default on the part of the purchaser Buyer or lessee Buyer’s hotel manager under an Assumed Contract, where the allegation of default is based upon an event or condition which arose or occurred (or is alleged to have arisen or occurred) on or after the Closing DateClosing.

Contracts and Assumed Contracts. Seller Sellers shall jointly and severally Indemnify Buyer from and against any and all Claims that Buyer incurs by reason of (i) any alleged default on the part of any Seller or the purchaser or lessee Manager under a Contract not assigned to Buyer at Closing or (ii) any alleged default on the part of any Seller or the purchaser or lessee Manager, as applicable under an Assumed Contract, where the allegation of such default is based on an event or condition which occurred or arose (or is alleged to have occurred or arisen) prior to the Closing DateClosing. Buyer shall Indemnify Seller Sellers from and against any and all Claims that Seller incurs Sellers incur by reason of any alleged default on the part of the purchaser Buyer or lessee Buyer's hotel manager under an Assumed Contract, where the allegation of default is based upon an event or condition which arose or occurred (or is alleged to have arisen or occurred) on or after the Closing DateClosing.