name / content / group

content: 71565

name: Assumption

Assumption. Assignee hereby accepts the assignment of the Subject Partnership Interest, agrees to be bound by the terms of the Partnership Agreement, and assumes the performance of all of the obligations of Assignor under the Partnership Agreement to the extent related to the Subject Partnership Interest first arising or accruing on and after the date of this Assignment and Assumption of Partnership Interest (including, without limitation, obligations under contracts, leases and other agreements entered into by the Partnership prior to date hereof, to the extent such obligations relate to the period commencing on the date hereof).
ASSUMPTION. Assignee hereby accepts the assignment of the Subject Partnership Interest, agrees to be bound by the terms of the Partnership Agreement, and assumes the performance of all of the obligations of Assignor under the Partnership Agreement to the extent related to the Subject Partnership Interest first arising or accruing on and after the date of this Assignment and Assumption of Partnership Interest (including, without limitation, obligations under contracts, leases and other agreements entered into by the Partnership prior to date hereof, to the extent such obligations relate to the period commencing on the date hereof). Since Assignee will be the sole remaining partner in the Partnership after the delivery of this Assignment, Assignee shall take such steps as necessary to terminate the Partnership (including execution of a certificate of cancellation of the Certificate of Limited Partnership of the Partnership) and reflect such termination by recording an instrument conveying title to the Property to Assignee in the appropriate land records of the county in which the Property is situated.
ASSUMPTION. Assignee hereby accepts the assignment of the Subject Partnership Interest, agrees to be bound by the terms of the Partnership Agreement, and assumes the performance of all of the obligations of Assignor under the Partnership Agreement to the extent related to the Subject Partnership Interest first arising or accruing on and after the date of this Assignment and Assumption of Partnership Interest (including, without limitation, obligations under contracts, leases and other agreements entered into by the Partnership prior to date hereof, to the extent such obligations relate to the period commencing on the date hereof). Since Assignee will be the sole remaining partner in the Partnership after the delivery of this Assignment, Assignee shall take such execution of a certificate of cancellation of the Certificate of Limited Partnership of the Partnership) and reflect such termination by recording an instrument conveying title to the Property to Assignee in the appropriate land records of the county in which the Property is situated.