Assignment and Assumption Documents definition
Examples of Assignment and Assumption Documents in a sentence
The Meditrust Entities and the Purchaser agree to execute and deliver such documents, instruments, certificates and agreements as may be reasonably required pursuant to the terms of the HUD Consents, provided that the same are mutually acceptable to the Sellers and the Purchaser (collectively, the "HUD Assignment and Assumption Documents").
As of each Closing, the execution and delivery by the Seller of the applicable Assignment and Assumption Documents and the consummation by the Seller of the transactions contemplated thereby will have been duly authorized by all necessary limited liability company action of the Seller.
The Lease Assignment and Assumption Documents to be delivered at the Birmingham Closing shall contain a representation from HCPI that (i) HCPI has not subdivided the Birmingham Real Property and does not intend to subdivide the Birmingham Real Property and (ii) HCPI has no further rights under the Birmingham Lease Documents to require the Seller (or any of its successors-in-interest) to purchase the Birmingham Real Property from HCPI.
The Seller has duly executed and delivered this Agreement and, at or prior to each Closing, the Seller will have duly executed and delivered all applicable Assignment and Assumption Documents.
Without limiting the foregoing, it is acknowledged and agreed that the Assignment and Assumption Documents shall be in materially the same form as the assignment and assumption documents entered into between various Balanced Care Entities and the Seller in connection with the sale of the Tranche 1 Properties.
Buyer shall have deposited with Escrow Holder the assignment and assumption documents ("Assignment and Assumption Documents") attached hereto as Exhibit "I," which is incorporated herein by reference, duly executed by Buyer in counterpart.
In the event that the Buyer so elects, at the applicable Closing, the Buyer or its Designee shall assume the Seller's obligations under the applicable BCC Lease Documents pursuant to an assignment and assumption agreement and any other documents as are reasonably requested by the Seller (collectively, the "Assignment and Assumption Documents").
The Lease Assignment and Assumption Documents to be delivered at the Overland Park Closing shall contain a representation from HCPI that (i) HCPI has not subdivided the Overland Park Real Property and does not intend to subdivide the Overland Park Real Property and (ii) HCPI has no further rights under the Overland Park Lease Documents to require the Seller (or any of its successors-in-interest) to purchase the Overland Park Real Property from HCPI.
Without limiting the foregoing, it is acknowledged and agreed that the Assignment and Assumption Documents shall be in materially the same form as the assignment and assumption documents entered into between various Balanced Care Entities and the Seller in connection with the sale of the Tranche 1 Properties).
As of each Closing, the execution and delivery by the Buyer of the applicable Assignment and Assumption Documents and the consummation by the Buyer of the transactions contemplated thereby will have been duly authorized by all necessary limited liability company action of the Buyer.