Common use of ASSUMPTION BY THE TRANSFEREE Clause in Contracts

ASSUMPTION BY THE TRANSFEREE. The Transferee hereby assumes, and agrees it is unconditionally bound in respect of, as of the Transfer Date, all duties and obligations of the Transferor pursuant to the Trust Agreement and under each of the other Operative Documents to which the Transferor is a party and all other contracts, agreements, documents and instruments relating to the Beneficial Interest to which the Transferor is a party or by which the Transferor is bound, in each case to the extent arising or accruing in respect of any period after the Transfer Date. The Transferee agrees that as of the Transfer Date, it shall be deemed a party to each of the Operative Documents to which the Transferor is a party and any other contract, agreement, document or other instrument relating to the Beneficial Interest to which the Transferor is a party or by which it is bound and the Transferee agrees that it is liable for all of the duties and obligations of the Transferor under the Operative Documents to which the Transferor is a party and all other contracts, agreements, documents and instruments relating to the Beneficial Interest to which the Transferor is a party or by which the Transferor is bound as though it were identified as the “Owner Participant” therein.

ASSUMPTION BY THE TRANSFEREE. The Transferee hereby assumes, and agrees it is unconditionally bound in respect of, as of the Transfer Datedate hereof, all duties and obligations of the Transferor pursuant to the Trust LLC Agreement and under each of the other Operative Documents Documents, if any, to which the Transferor is a party and all other contracts, agreements, documents and instruments relating to the Beneficial Interest [Owner Lessor's Interest] to which the Transferor is a party or by which the Transferor is bound, in each case to the extent arising or accruing in respect of any period after the Transfer Date. The Transferee agrees that as of the Transfer Datedate hereof~, it shall be deemed a party to each of the Operative Documents to which the Transferor is a party party, if any, and any other contract, agreement, document or other instrument relating to the Beneficial Interest [Owner Lessor's Interest] to which the Transferor is a party or by which it is bound and the Transferee agrees that it is liable for all of the duties and obligations of the Transferor under the Operative Documents to which the Transferor is a party party, if any, and all other contracts, agreements, documents and instruments relating to the Beneficial Interest [Owner Lessor's Interest] to which the Transferor is a party 165 party, if any, or by which the Transferor is bound as though it were identified as the “["Owner Participant” "] therein.