Common use of Satisfaction of Existing Obligations and Assumption of Contingent Liabilities Clause in Contracts

Satisfaction of Existing Obligations and Assumption of Contingent Liabilities. SWBT may condition its approval of any requested assignment or transfer on the assignee’s or successor’s payment or satisfaction of all outstanding obligations of Applicant under this Agreement and the assignee’s or successor’s assumption of any liabilities, or contingent liabilities, of Applicant arising out of or in connection with this Agreement.

Satisfaction of Existing Obligations and Assumption of Contingent Liabilities. SWBT may condition its approval of any requested assignment or transfer on the assignee’s 's or successor’s 's payment or satisfaction of all outstanding obligations of Applicant under this Agreement and the assignee’s 's or successor’s 's assumption of any liabilities, or contingent liabilities, of Applicant arising out of or in connection with this Agreement.