Assignment and Assumption of the Contracts Sample Clauses

The "Assignment and Assumption of the Contracts" clause governs the transfer of rights and obligations under existing contracts from one party to another. In practice, this clause specifies the process by which the assignor (the original party) assigns its interests in certain contracts to the assignee, who then assumes responsibility for performing the contractual duties. For example, in a business sale, the buyer may take over the seller's contracts with suppliers or customers. The core function of this clause is to ensure a clear and legally effective transition of contractual relationships, preventing disputes over who is responsible for contract performance after the transfer.
Assignment and Assumption of the Contracts. As additional consideration, Purchaser shall, on and as of the Closing Date, at its sole cost and expense, assume and agree to pay all sums and perform, fulfill and comply with all other covenants and obligations which are to be paid, performed and complied with by the Sellers under the Assumed Contracts, to the extent such obligations first arise or accrue on or after the Closing Date, and the Sellers shall, on and as of the Closing Date, at their sole cost and expense, assign to Purchaser all of Sellers’ right, title and interest in and to the Assumed Contracts. The Sellers shall remain liable to pay all sums and perform, fulfill and comply with all other covenants and obligations which are to be paid, performed and complied with by the Sellers under the Assumed Contracts, to the extent such obligations pertain to the period before the Closing Date.
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Assignment and Assumption of the Contracts. AVAILABLE UPON REQUEST SCHEDULE 1.1(a) LIST OF RELATED PROPERTY AVAILABLE UPON REQUEST SCHEDULE 1.1(b) LIST OF INVENTORY AVAILABLE UPON REQUEST SCHEDULE 1.1(c) LIST OF CONTRACTS
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Assignment and Assumption of the Contracts. An Assignment and Assumption of the Contracts, which Assumed Contract Assignment shall be in the form attached hereto as Exhibit P shall have been executed and delivered by the parties thereto.
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Assignment and Assumption of the Contracts. Schedules 1.1 (a) List of Related Property 1.1 (b) List of Inventory 1.1 (c) List of Contracts 1.1 (d) List of Governmental Permits 1.1 (e) List of Intellectual Property Rights 1.1 (f) List of Accounts Receivable 1.1
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Related to Assignment and Assumption of the Contracts

  • Assignment and Assumption of Contracts Two (2) counterpart originals of the Assignment and Assumption of Contracts, duly executed by Buyer.

  • Assignment and Assumption of Leases Two (2) counterparts of the Assignment and Assumption of Leases, executed, acknowledged and sealed by Purchaser;

  • Assignment and Assumption The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

  • Assignment and Assumption Agreement The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption Agreement, together with a processing and recordation fee of $3,500, and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire provided by the Administrative Agent.

  • Assignment and Assumption Consent Effective as of the First Amendment Effective Date, for agreed consideration, ▇▇▇ hereby irrevocably sells and assigns to MBL, and MBL hereby irrevocably purchases and assumes all rights and obligations in its capacity as Lender under the LC Reimbursement Agreement and other Credit Documents, including, without limitation, all of MBL’s rights and obligations with respect to the Collateral and Intercreditor Agreement and the Security Documents (as defined in the Collateral and Intercreditor Agreement, and such Security Documents together with the Collateral and Intercreditor Agreement are referred to herein as the “Security Documents”) (the “Lender Assignment”). Effective as of the First Amendment Effective Date and in accordance with Section 7.9 of the LC Reimbursement Agreement, the Account Party hereby consents to the Lender Assignment.