Common use of Direct Lease Clause in Contracts

Direct Lease. Upon an attornment as set forth in Section 23.c. above, this Lease shall continue in full force and effect as a direct lease between the Successor and Tenant upon all of the then executory terms of this Lease except that such Successor shall not be (i) liable for any previous act, omission or negligence of Landlord under this Lease; (ii) subject to any counterclaim, defense or offset which theretofore shall have accrued to Tenant against Landlord; (iii) bound by any previous modification or amendment of this Lease or by any previous prepayment of more than one month's rent, unless such modification or prepayment shall have been approved in writing by the Lessor or the Mortgagee through or by reason of which the Successor shall have succeeded to the rights of Landlord under this Lease; (iv) liable for any security deposited pursuant to this Lease unless such security has actually been delivered to the Successor; (v) obligated to repair the Premises or the Building or any part thereof in the event of total or substantial damage or partial condemnation, beyond such repair as can reasonably be accomplished from the net proceeds of insurance or condemnation award actually made available to the Successor or (vi) obligated to perform any Landlord's work or other Alterations.

Direct Lease. Upon an attornment as set forth in Section 23.c. above, this Lease shall continue in full force and effect as a direct lease between the Successor and Tenant upon all of the then executory terms of this Lease except that such Successor shall not be (i) liable for any previous act, omission or negligence of Landlord under this Lease; (ii) subject to any counterclaim, defense or offset which theretofore therefore shall have accrued to Tenant against Landlord; (iii) bound by any previous modification or amendment of this Lease or by any previous prepayment of more than one month's rent, unless such modification or prepayment shall have been approved in writing by the Lessor or the Mortgagee through or by reason of which the Successor shall have succeeded to the rights of Landlord under this Lease; (iv) liable for any security deposited pursuant to this Lease unless such security has actually been delivered to the Successor; (v) obligated to repair the Premises or the Building or any part thereof in the event of total or substantial damage or partial condemnation, beyond such repair as can reasonably be accomplished from the net proceeds of insurance or condemnation award actually made available to the Successor or (vi) obligated to perform any Landlord's work or other Alterations.