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Common use of Release of Lessee Clause in Contracts

Release of Lessee. If Lessee completes the sale of the Assets to Assignee, ----------------- Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease.

Appears in 3 contracts

Samples: Management Agreement (Ipcs Equipment Inc), Management Agreement (Ipcs Equipment Inc), Management Agreement (Ipcs Equipment Inc)

Release of Lessee. If Lessee completes the sale of the Assets to ------------------ Assignee, ----------------- Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease.

Appears in 3 contracts

Samples: Management Agreement (Ipcs Equipment Inc), Management Agreement (Ipcs Equipment Inc), Management Agreement (Ipcs Equipment Inc)

Release of Lessee. If Lessee completes the sale of the Assets to Assignee, ----------------- Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Ubiquitel Inc), Asset Purchase Agreement (Ubiquitel Inc)

Release of Lessee. If Lessee completes the sale of the Assets to ----------------- Assignee, ----------------- Lessor hereby releases Lessee from all duties, obligations and liabilities under the Lease which arise from and after the effective date of the this Assignment and agrees to recognize Assignee as the lessee under the Lease for all purposes with respect to the performance of all duties, obligations and liabilities of the lessee which arise under the Lease from and after the effective date of the Assignment. By executing this Consent, Lessor hereby acknowledges, agrees to and reaffirms its continuing rights, powers, duties, obligations and liabilities under the Lease.

Appears in 1 contract

Samples: Asset Purchase Agreement (Ipcs Inc)