Common use of Liability Upon Assignment Clause in Contracts

Liability Upon Assignment. 20 7.7.3 Release of Property Owner................................... 20 7.7.4 Release of Property Transferee............................ 20 7.8 Covenants........................................................................ 20 7.9 Cooperation and Implementation.................................... 20 7.9.1 Processing............................ 21 7.9.2 Other Governmental Permits 21 7.9.3 Cooperation in the Event of Legal Challenge 21 7.9.4 Relationship of the Parties............................. 21 7.9.5 Operating Memoranda.................................. 21 7.9.6 Certificate of Performance ........................... 22 7.10 Indemnification ........................................................................ 22 7.10.1 Obligation to Defend, Indemnify, and Hold Harmless 22 7.10.2 Defending The Project Approvals............................... 22 7.10.3 Breach of Obligations.................................................. 23 7.10.4 Cooperation................................................................. 23 7.10.5 Contractual Obligation................................................ 23 7.10.6 Waiver of Right to Challenge...................................... 23 7.10.7 Survival............................................. 23 7.10.8 Preparation of Administrative Record 24 7.10.9 Deposit............................................... 24 7.11 Notices ............................................................ 24 7.12 Recordation ..................................................... 25 7.13 Constructive Notice and Acceptance.............. 25 7.14 Successors and Assignees ............................... 25 7.15 Severability ..................................................... 25 7.16 Time of the Essence........................................ 25 7.17 Waiver............................................................. 26 7.18 No Third Party Beneficiaries................................................................... 26 7.19 Entire Agreement..................................................................................... 26 7.20 Legal Advice; Neutral Interpretation; Headings, Table of Contents, and Index ........................................................................................................ 26 7.21 Duplicate Originals 25 DEVELOPMENT AGREEMENT This Development Agreement (“Agreement”) is executed this day of , 201_ by and between the CITY OF LOS ANGELES, a municipal corporation (“City”), and XXXXXXX XXXXXX MANAGEMENT, LLC, a Delaware limited liability corporation (the “Developer”), pursuant to California Government Code Section 65864 et seq., and the implementing procedures of the City, with respect to the following:

Liability Upon Assignment. 20 21 7.7.3 Release of Property Owner................................... 20 21 7.7.4 Release of Property Transferee............................ 20 21 7.8 Covenants........................................................................ 20 22 7.9 Cooperation and Implementation.................................... 20 22 7.9.1 Processing............................ 21 22 7.9.2 Other Governmental Permits 21 22 7.9.3 Cooperation in the Event of Legal Challenge 21 22 7.9.4 Relationship of the Parties............................. 21 22 7.9.5 Operating Memoranda.................................. 21 ................................... 23 7.9.6 Certificate of Performance ........................... 22 Performance............................ 23 7.10 Indemnification ........................................................................ 22 23 7.10.1 Obligation to Defend, Indemnify, and Hold Harmless 22 23 7.10.2 Defending The Project Approvals............................... 22 24 7.10.3 Breach of Obligations.................................................. 23 24 7.10.4 Cooperation................................................................. 23 24 7.10.5 Contractual Obligation................................................ 23 25 7.10.6 Waiver of Right to Challenge...................................... 23 ............ 25 7.10.7 Survival............................................. 23 25 7.10.8 Preparation of Administrative Record 24 25 7.10.9 Deposit............................................... 24 25 7.11 Notices ............................................................ 24 26 7.12 Recordation ..................................................... 25 26 7.13 Constructive Notice and Acceptance.............. 25 26 7.14 Successors and Assignees ............................... 25 26 7.15 Severability ..................................................... 25 26 7.16 Time of the Essence........................................ 25 27 7.17 Waiver............................................................. 26 27 7.18 No Third Party Beneficiaries................................................................... 26 27 7.19 Entire Agreement..................................................................................... 26 7.20 Legal Advice; Neutral Interpretation; Headings, Table of Contents, and Index ........................................................................................................ 26 7.21 Duplicate Originals 25 DEVELOPMENT AGREEMENT This Development Agreement (“Agreement”) is executed this day of , 201_ by and between the CITY OF LOS ANGELES, a municipal corporation (“City”), and XXXXXXX XXXXXX MANAGEMENT, LLC, a Delaware limited liability corporation (the “Developer”), pursuant to California Government Code Section 65864 et seq., and the implementing procedures of the City, with respect to the following:27

Liability Upon Assignment. 20 23 7.7.3 Release of Property Owner................................... 20 ...................................... 24 7.7.4 Release of Property Transferee............................ 20 .............................. 24 7.8 Covenants........................................................................ 20 .............................................................................. 24 7.9 Cooperation and Implementation.................................... 20 ....................................... 24 7.9.1 Processing............................ 21 .............................. 24 7.9.2 Other Governmental Permits 21 24 7.9.3 Cooperation in the Event of Legal Challenge 21 24 7.9.4 Relationship of the Parties............................. 21 ............................... 25 7.9.5 Operating Memoranda.................................. 21 ...................................... 25 7.9.6 Certificate of Performance ........................... 22 Performance.............................. 25 7.10 Indemnification ........................................................................ 22 25 7.10.1 Obligation to Defend, Indemnify, and Hold Harmless 22 25 7.10.2 Defending The Project Approvals............................... 22 ................................. 26 7.10.3 Breach of Obligations.................................................. 23 ...................................................... 26 7.10.4 Cooperation................................................................. 23 ...................................................................... 26 7.10.5 Contractual Obligation................................................ 23 .................................................... 27 7.10.6 Waiver of Right to Challenge...................................... 23 ......................................... 27 7.10.7 Survival............................................. 23 ............................................................................. 27 7.10.8 Preparation of Administrative Record 24 Record.......................... 27 7.10.9 Deposit............................................... 24 ............................................................................... 27 7.11 Notices ............................................................ 24 ............................................................................................. 27 7.12 Recordation ..................................................... 25 ..................................................................................... 28 7.13 Constructive Notice and Acceptance.............. 25 Acceptance .......................................... 28 7.14 Successors and Assignees ............................... 25 ............................................................. 28 7.15 Severability ..................................................... 25 ..................................................................................... 28 7.16 Time of the Essence........................................ 25 Essence ....................................................................... 28 7.17 Waiver............................................................. 26 .............................................................................................. 29 7.18 No Third Party Beneficiaries................................................................... 26 Beneficiaries ......................................................................... 29 7.19 Entire Agreement..................................................................................... 26 7.20 Legal Advice; Neutral Interpretation; Headings, Table of Contents, and Index ........................................................................................................ 26 7.21 Duplicate Originals 25 DEVELOPMENT AGREEMENT This Development Agreement (“Agreement”) is executed this day of , 201_ by and between the CITY OF LOS ANGELES, a municipal corporation (“City”), and XXXXXXX XXXXXX MANAGEMENT, LLC, a Delaware limited liability corporation (the “Developer”), pursuant to California Government Code Section 65864 et seq., and the implementing procedures of the City, with respect to the following:............................................................................................. 29

Liability Upon Assignment. 20 18 7.7.3 Release of Property Owner................................... 20 19 7.7.4 Release of Property Transferee............................ 20 ............................. 19 7.8 Covenants........................................................................ 20 19 7.9 Cooperation and Implementation.................................... 20 19 7.9.1 Processing............................ 21 19 7.9.2 Other Governmental Permits 21 19 7.9.3 Cooperation in the Event of Legal Challenge 21 20 7.9.4 Relationship of the Parties............................. 21 20 7.9.5 Operating Memoranda.................................. 21 Memoranda ................................. 20 7.9.6 Certificate of Performance ........................... 22 Performance............................ 20 7.10 Indemnification ........................................................................ 22 21 7.10.1 Obligation to Defend, Indemnify, and Hold Harmless 22 21 7.10.2 Defending The Project Approvals............................... 22 .............................. 21 7.10.3 Breach of Obligations.................................................. 23 ................................................. 22 7.10.4 Cooperation................................................................. 23 ................................................................ 22 7.10.5 Contractual ObligationObligation ................................................ 23 22 7.10.6 Waiver of Right to Challenge...................................... 23 ..................................... 22 7.10.7 Survival............................................. 23 ....................................................................... 22 7.10.8 Preparation of Administrative Record 24 Record........................ 22 7.10.9 Deposit............................................... 24 ........................................................................ 23 7.11 Notices ............................................................ 24 Notices...... 23 7.12 Recordation ..................................................... 25 24 7.13 Constructive Notice and Acceptance.............. 25 ...................................................... 24 7.14 Successors and Assignees ............................... 25 Assignees....................................................................... 24 7.15 Severability ..................................................... 25 Severability............................................................................................. 24 7.16 Time of the Essence........................................ 25 Essence ................................................................................ 24 7.17 Waiver............................................................. 26 ..................................................................................................... 25 7.18 No Third Party Beneficiaries................................................................... 26 .................................................................. 25 7.19 Entire Agreement..................................................................................... 26 .................................................................................... 25 7.20 Legal Advice; Neutral Interpretation; Headings, Table of Contents, and Index Index........................................................................................................ 26 25 7.21 Duplicate Originals Counterparts............................................................................................ 25 DEVELOPMENT AGREEMENT This Development Agreement (“Agreement”) is executed this day of , 201_ 2018 by and between the CITY OF LOS ANGELES, a municipal corporation (“City”), and XXXXXXX XXXXXX MANAGEMENTWESTSIDE CAMPUS, LLC, a Delaware California limited liability corporation company (the “Developer”), pursuant to California Government Code Section 65864 et seq., and the implementing procedures of the City, with respect to the following:

Liability Upon Assignment. 20 7.7.3 Release of Property Owner................................... 20 7.7.4 Release of Property Transferee............................ 20 21 7.8 Covenants........................................................................ 20 21 7.9 Cooperation and Implementation.................................... 20 21 7.9.1 Processing............................ 21 7.9.2 Other Governmental Permits 21 7.9.3 Cooperation in the Event of Legal Challenge 21 7.9.4 Relationship of the Parties............................. 21 7.9.5 Operating Memoranda.................................. 21 ................................... 22 7.9.6 Certificate of Performance ........................... Performance............................ 22 7.10 Indemnification ........................................................................ Indemnification......................................................................... 22 7.10.1 Obligation to Defend, Indemnify, and Hold Harmless 22 7.10.2 Defending The Project Approvals............................... 22 23 7.10.3 Breach of Obligations.................................................. 23 7.10.4 Cooperation................................................................. 23 7.10.5 Contractual Obligation................................................ 23 24 7.10.6 Waiver of Right to Challenge...................................... 23 ............ 24 7.10.7 Survival............................................. 23 24 7.10.8 Preparation of Administrative Record 24 7.10.9 Deposit............................................... 24 7.11 Notices Notices............................................................ 24 7.12 Recordation Recordation..................................................... 25 7.13 Constructive Notice and Acceptance.............. 25 7.14 Successors and Assignees Assignees............................... 25 7.15 Severability Severability..................................................... 25 7.16 Time of the Essence........................................ 25 26 7.17 Waiver............................................................. 26 7.18 No Third Party Beneficiaries................................................................... 26 7.19 Entire Agreement..................................................................................... 26 7.20 Legal Advice; Neutral Interpretation; Headings, Table of Contents, and Index ........................................................................................................ 26 7.21 Duplicate Originals 25 26 DEVELOPMENT AGREEMENT This Development Agreement (“Agreement”) is executed this day of , 201_ 2017 by and between the CITY OF LOS ANGELES, a municipal corporation (“City”), and XXXXXXX XXXXXX MANAGEMENTLightstone DTLA, LLC, a Delaware limited liability corporation LLC (the “Developer”), pursuant to California Government Code Section 65864 et seq., .. and the implementing procedures of the City, with respect to the following:

Liability Upon Assignment. 20 19 7.7.3 Release of Property Owner................................... 20 ...................................... 19 7.7.4 Release of Property Transferee............................ 20 .............................. 19 7.8 Covenants........................................................................ 20 .............................................................................. 19 7.9 Cooperation and Implementation.................................... ....................................... 20 7.9.1 Processing............................ 21 .............................. 20 7.9.2 Other Governmental Permits 21 20 7.9.3 Cooperation in the Event of Legal Challenge 21 20 7.9.4 Relationship of the Parties............................. 21 ............................... 20 7.9.5 Operating Memoranda.................................. ...................................... 21 7.9.6 Certificate of Performance ........................... 22 Performance.............................. 21 7.10 Indemnification ........................................................................ 22 .............................................................................. 21 7.10.1 Obligation to Defend, Indemnify, and Hold Harmless 22 21 7.10.2 Defending The Project Approvals............................... 22 ................................. 21 7.10.3 Breach of Obligations.................................................. 23 ...................................................... 22 7.10.4 Cooperation................................................................. 23 ...................................................................... 22 7.10.5 Contractual Obligation................................................ 23 .................................................... 22 7.10.6 Waiver of Right to Challenge...................................... 23 ............. 22 7.10.7 Survival............................................. 23 ................................................. 22 7.10.8 Preparation of Administrative Record 24 22 7.10.9 Deposit............................................... 24 ................................................... 23 7.11 Notices ............................................................ 24 ................................................................. 23 7.12 Recordation ..................................................... 25 .......................................................... 24 7.13 Constructive Notice and Acceptance.............. 25 ............... 24 7.14 Successors and Assignees ............................... 25 .................................. 24 7.15 Severability ..................................................... 25 .......................................................... 24 7.16 Time of the Essence........................................ 25 ........................................... 24 7.17 Waiver............................................................. 26 .................................................................. 24 7.18 No Third Party Beneficiaries................................................................... 26 ......................................................................... 24 7.19 Entire Agreement..................................................................................... 26 7.20 Legal Advice; Neutral Interpretation; Headings, Table of Contents, and Index ........................................................................................................ 26 7.21 Duplicate Originals 25 DEVELOPMENT AGREEMENT This Development Agreement (“Agreement”) is executed this day of , 201_ by and between the CITY OF LOS ANGELES, a municipal corporation (“City”), and XXXXXXX XXXXXX MANAGEMENT, LLC, a Delaware limited liability corporation (the “Developer”), pursuant to California Government Code Section 65864 et seq., and the implementing procedures of the City, with respect to the following:............................................................................................. 24