Assumption of Existing Debt. Any and all documents necessary to evidence the assumption of the Existing Debt shall have been executed by Purchaser and the lender thereunder, if and to the extent Purchaser elects pursuant to Paragraph 2 to permit the same to be a liability of the Corporation at Closing. Subject to the limitations set forth in the foregoing Paragraph 13, in the event any of the foregoing conditions is not satisfied by Seller or Purchaser, as appropriate, or waived by Purchaser prior to Closing, Purchaser shall have the right to terminate this Agreement in accordance with the provisions of Paragraph 17.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Emeritus Corp\wa\), Stock Purchase Agreement (Emeritus Corp\wa\), Stock Purchase Agreement (Emeritus Corp\wa\)