ACKNOWLEDGED AND AGREED. GCEAR hereby acknowledges the SPF Payment, the DF Payment and the Remaining 4.03 Obligations, and acknowledges and agrees that if any amounts in respect of the SPF Payment, the DF Payment and the Remaining 4.03 Obligations remain outstanding as of the consummation of the REIT Merger (as defined in the GCEAR Merger Agreement), they shall be become obligations of the REIT Surviving Entity (as defined in the GCEAR Merger Agreement). The Advisor acknowledges and agrees that at the effective time of the REIT Merger, the REIT Surviving Entity shall succeed to the rights and obligations of the Company in respect of the Surviving Matters.
Appears in 2 contracts
Sources: Advisory Agreement (Griffin Capital Essential Asset REIT, Inc.), Advisory Agreement (Cole Office & Industrial REIT (CCIT II), Inc.)