Common use of Assignment to Purchaser Clause in Contracts

Assignment to Purchaser. (a) To the extent it can lawfully do so, the Vendor assigns to the Purchaser and the Purchaser takes an assignment of the Lease Guarantees including the benefit of all covenants and obligations on the part of each guarantor in favour of or enforceable by the Vendor in every Lease Guarantee. (b) The assignment pursuant to this clause 10.1 takes effect only upon and from Completion. (c) The Vendor will execute and deliver to the Purchaser at Completion a notice in the form of the notice in Schedule 6 in favour of each guarantor under a Lease Guarantee giving to that guarantor written notice of the assignment to the Purchaser of the benefit of the relevant guarantee. (d) Any notice required under clause 10.1(c) must be prepared by the Purchaser and delivered to the Vendor for execution by the Vendor within a reasonable time prior to Completion.