Common use of Liability and Successors and Assigns Clause in Contracts

Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 and Tenant's recourse against Beneficiary shall in no extent exceed the amount of $10,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 2 contracts

Samples: Industrial Lease (Valicert Inc), Industrial Lease (Valicert Inc)

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Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 and Tenant's ’s recourse against Beneficiary shall in no extent exceed the amount of $10,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's ’s interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 2 contracts

Samples: And Attornment Agreement (ViewRay, Inc.), And Attornment Agreement (NeoStem, Inc.)

Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 5,000,000 and Tenant's ’s recourse against Beneficiary shall in no extent exceed the amount of $10,000,0005,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's ’s interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 1 contract

Samples: Office Lease Agreement (Guidewire Software, Inc.)

Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 3,000,000 and Tenant's ’s recourse against Beneficiary shall in no extent exceed the amount of $10,000,0003,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's ’s interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 1 contract

Samples: And Attornment Agreement (Solta Medical Inc)

Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 3,000,00010,000,000 and Tenant's ’s recourse against Beneficiary shall in no extent exceed the amount of $10,000,0003,000,000.10,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement arising from and after the transfer by Beneficiary of its interest in the Property to a Foreclosure Purchaser shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's ’s interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 1 contract

Samples: And Attornment Agreement (Epicor Software Corp)

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Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 3,000,000 and Tenant's recourse against Beneficiary shall in no extent exceed the amount of $10,000,0003,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, and their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary (including any affiliate transfers for which Landlord's consent is not required under the Lease and Beneficiary's consent is not required hereunder).

Appears in 1 contract

Samples: Lease Agreement (First Horizon Pharmaceutical Corp)

Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary shall have no obligation nor incur any liability in an amount in excess of $10,000,000 and Tenant's ’s recourse against Beneficiary shall in no extent exceed the amount of $10,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities of Beneficiary under this Agreement arising from and after the transfer by Beneficiary of its interest in the Property to a Foreclosure Purchaser shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's ’s interest is assigned or transferred. The interest of Tenant under this Agreement may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 1 contract

Samples: And Attornment Agreement (Epicor Software Corp)

Liability and Successors and Assigns. In the event that Beneficiary ------------------------------------ acquires title to the Premises or the Property, Beneficiary Benefi-ciary shall have no obligation nor incur any liability liabili-ty in an amount in excess of $10,000,000 and Tenant's recourse against Beneficiary shall in no extent exceed the amount of $10,000,000. This Agreement shall run with the land and shall inure to the benefit of the parties and, their respective successors suc-cessors and permitted assigns including a Foreclosure Purchaser. If a Foreclosure Purchaser acquires the Property or if Beneficiary assigns or transfers its interest in the Note and Deed of Trust or the Property, all obligations and liabilities liabil-ities of Beneficiary Benefi-ciary under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's interest is assigned or transferred. The interest of Tenant under this Agreement Agree-ment may not be assigned or transferred except in connection with an assignment of its interest in the Lease which has been consented to by Beneficiary.

Appears in 1 contract

Samples: Office Lease Agreement (Citadel Security Software Inc)

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