Common use of ASSIGNEE COVENANTS Clause in Contracts

ASSIGNEE COVENANTS. Assignee covenants and agrees with Assignor/Purchaser that, as of and from the Effective Date: (a) It will pay the additional deposits (if any) and the cash balance of the Purchase Price at the times and in the manner set forth in the Agreement, and observe and perform the covenants and other obligations contained in the Agreement on the part of the Assignor/Purchaser to be observed and performed, and it will indemnify and save harmless Assignor/Purchaser from all actions, suits, costs, losses, charges, demands and expenses for and in respect of any such non-payment, non-observance or non- performance; and (b) It will at all times be bound by all of Assignor/Purchaser’s covenants, warranties, representations, obligations, and liabilities set forth in (or arising under) the Agreement, including without limitation, the obligation to pay the additional deposits (if any) and the cash balance of the Purchase Price at the times and in the manner set forth in the Agreement, and that it will indemnify and save harmless Vendor from all actions, suits, costs, losses, charges, demands and expenses for and in respect of any such non-payment or non-observance or non-performance. Assignee further covenants and agrees with Vendor that, by its signature herein, Assignee has received a copy of the Agreement and any amendments thereto, together with all notices given by Vendor to Assignor/Purchaser pursuant to the Agreement and all documents and agreements supplementary to the Agreement, and Assignee covenants and agrees with Vendor that it shall be bound by the same as of the Effective Date.