Common use of Assignment of Warranties and Guaranties Clause in Contracts

Assignment of Warranties and Guaranties. Seller shall use commercially reasonable efforts to obtain all consents required with respect to the transfer and assignment to Buyer of any warranties and guaranties held by Seller or used in connection with all or any portion of the Improvements or the Personal Property so that the same can be assigned by 25 Seller to Buyer at Closing. Additionally, with respect to the roof warranties described on Schedule 3 hereof (collectively, the “Roof Warranties”, and individually, a “Roof Warranty”), prior to Closing Seller shall pay all fees and complete any paperwork required for such assignment (or consent to assignment) of the Roof Warranties (and Buyer shall provide any information required in connection therewith), but not including the payment (other than the credit set forth in Section 6(D)(1)(n)) or diligent completion of any work or repair of any deficiencies that must be performed pursuant to the terms of any inspection conducted by any of the companies providing a Roof Warranty as a condition to assignment (collectively, the “Roof Repair Work”). After any applicable inspection related to the transfer of the Roof Warranties has been performed, Seller shall promptly notify Buyer of the Roof Repair Work that must be performed prior to the transfer of each of the Roof Warranties. If Seller has not completed the assignment of all Roof Warranties pursuant to this paragraph prior to Closing, then Seller shall reasonably cooperate with Buyer after Closing (at no cost to Seller) to effectuate the assignment of such Roof Warranties.

Assignment of Warranties and Guaranties. Seller shall use commercially reasonable efforts to obtain all consents required with respect to the transfer and assignment to Buyer of any warranties and guaranties held by Seller or used in connection with all or any portion of the Improvements or the Personal Property so that the same can be assigned by 25 Seller to Buyer at Closing. Additionally, with respect to the roof warranties described on Schedule 3 hereof (collectively, the “Roof Warranties”, and individually, a “Roof Warranty”), prior to Closing Seller shall pay all fees and complete any paperwork required for such assignment (or consent to assignment) of the Roof Warranties (and Buyer shall provide any information required in connection therewith), but not including the payment (other than the credit set forth in Section 6(D)(1)(n)) or diligent completion of any work or repair of any deficiencies that must be performed pursuant to the terms of any inspection conducted by any of the companies providing a Roof Warranty as a condition to assignment (collectively, the “Roof Repair Work”). After any applicable inspection related to the transfer of the Roof Warranties has been performed, Seller shall promptly notify Buyer of the Roof Repair Work that must be performed prior to the transfer of each of the Roof Warranties. If Seller has not completed the assignment of all Roof Warranties pursuant to this paragraph prior to Closing, then Seller shall reasonably cooperate with Buyer after Closing (at no cost to Seller) to effectuate the assignment of such Roof Warranties.