Common use of Parties Bound; Assignment Clause in Contracts

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement upon the following conditions: (i) the assignee of Purchaser must be an entity controlling, controlled, or under common control with Purchaser (ii) all of the Deposits must have been delivered in accordance herewith, (iii) the assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s obligations, and (iv) a copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten (10) days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 3 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors heirs, personal representatives, successors, and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement upon the following conditions: (i) the assignee of Purchaser must be an affiliate of Purchaser or an entity controlling, controlledcontrolled by, or under common control with Purchaser Purchaser, or an affiliate of Purchaser, (ii) all of the Deposits must have been delivered in accordance herewith, (iii) the assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s 's obligations, and (iviii) a copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten five (105) days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Berkshire Income Realty Inc), Purchase and Sale Agreement (Berkshire Income Realty Inc)

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors heirs, personal representatives, successors, and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement upon the following conditions: (ia) the assignee of Purchaser must be an entity controlling, controlledcontrolled by, or under common control with Purchaser Purchaser, (iib) all of the Deposits ▇▇▇▇▇▇▇ Money must have been delivered in accordance herewith, (iiic) the assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s obligations, and (ivd) a copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten (10) five days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Hines Real Estate Investment Trust Inc)

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors heirs, personal representatives, successors, and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement only upon the following conditions: (i1) the assignee of Purchaser must be an entity controlling, controlledcontrolled by, or under common control with Purchaser (ii) all of the Deposits must have been delivered in accordance herewithPurchaser, (iii2) Purchaser shall not be in default under this Agreement, (3) the assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s obligations, and (iv4) a copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten (10) days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Carter Validus Mission Critical REIT, Inc.)

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors heirs, personal representatives, successors, and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement upon the following conditions: (i) the assignee of Purchaser must be to an entity controlling, controlledcontrolled by, or under common control with Purchaser (ii) all of the Deposits must have been delivered in accordance herewithPurchaser, (iii) the including, without limitation, ▇▇▇▇▇ REIT II-80 M Street LLC, a Delaware limited liability company, subject to Section 12.17. The assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s obligations, and (iv) a . A copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten three (103) days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Wells Real Estate Investment Trust Ii Inc)

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors heirs, personal representatives, successors, and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement upon the following conditions: (i) the assignee of Purchaser must be an affiliate of Purchaser or an entity controlling, controlledcontrolled by, or under common control with Purchaser Purchaser, (ii) all of the Deposits must have been delivered in accordance herewith, (iii) the assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s obligations, and (iviii) a copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten five (105) days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Amerivest Properties Inc)

Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions herein contained, shall inure to the benefit of and be binding upon the successors heirs, personal representatives, successors, and assigns of each of the parties hereto. Purchaser may assign its rights under this Agreement upon the following conditions: (ia) the assignee of Purchaser must be an entity controlling, controlledcontrolled by, or under common control with Purchaser Purchaser, (iib) all of the Deposits Deposit must have been delivered in accordance herewith, (iiic) the assignee of Purchaser shall assume all obligations of Purchaser hereunder, but Purchaser shall remain primarily liable for the performance of Purchaser’s obligations, and (ivd) a copy of the fully executed written assignment and assumption agreement shall be delivered to Seller at least ten (10) days prior to Closing. No other assignment shall be permitted hereunder.

Appears in 1 contract

Sources: Purchase and Sale Agreement (TNP Strategic Retail Trust, Inc.)