Assumed Equipment Leases definition
Examples of Assumed Equipment Leases in a sentence
The Sellers shall bear any costs and expenses of obtaining any consents to such assumption of the Assumed Contracts, the Assumed Equipment Leases and the Tenant Leases.
Charges for water, fuel, gas, oil, heat, electricity and other utilities, operating charges and prepaid amounts under Assumed Contracts, Assumed Equipment Leases, Assumed Tenant Leases and the Facility Leases shall be prorated as of the Closing Date for the Facility to which they relate but such amounts will not be paid pursuant to the Closing Statement but shall instead be part of the post-closing reconciliation process described in Section 10.5 below.
All amounts payable under the Assumed Contracts, the Assumed Equipment Leases and the Tenant Leases shall be prorated through the Closing Date pursuant to Sections 9.4 and 9.6.
Buyer hereby agrees to indemnify and hold harmless Seller and its affiliates or agents and the successors and assigns of each of them (collectively, "Seller's Representatives"), from any and all Adverse Consequences arising out of or relating to an Event of Breach or from the Assumed Equipment Leases, the Assumed Contracts, or the Assumed Payables.
All Assumed Equipment Leases and Contracts have been entered into in the ordinary course of business and have been entered into without the commission of any act or any consideration having been paid or promised that is or would be in violation of any applicable federal, state or local statutes, ordinances, rules, regulations, permits, licenses or other authorizations.
Except for the equipment leased under the Assumed Equipment Leases, Seller is the sole and exclusive legal and equitable owner of all right, title and interest in and has good and marketable title to the Purchased Assets, free and clear of any and all mortgages, liens, claims, charges, options, purchase agreements, security agreements and interests, commission arrangements, title retention agreements, encumbrances, covenants, restrictions and adverse interests of any kind or nature whatsoever.
The Seller has not assigned, subleased, mortgaged, deeded in trust or otherwise transferred the Assumed Progress Court Lease, the Assumed Contracts or the Assumed Equipment Leases, or any interest in any of the foregoing.
Subject to the terms and conditions set forth in this Agreement, Purchaser will assume those of Seller’s obligations under the Assumed Progress Court Lease, the Assumed Equipment Leases and the Assumed Contracts that arise and are first required to be performed after the Closing Date (collectively the “Assumed Obligations”).
Purchaser is and will be capable of satisfying the conditions contained in section 365(b)(1)(C) and 365(f) of the Bankruptcy Code with respect to the Assumed Contracts, the Assumed Progress Court Lease and the Assumed Equipment Leases.
Notwithstanding the releases contained herein, IIS hereby acknowledges and confirms its obligations pursuant to the MTA with respect to the Assumed Equipment Leases (as defined in the MTA), and its obligations under the AT&T telecommunications liability (collectively, the "CTG Obligations").