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 beyond the lesser of (a) Five Million Dollars ($5,000,000.00) or (b) Beneficiary's then equity interest in the Property and Tenant shall look solely to Beneficiary's then equity interest for the payment and performance of any obligations imposed upon Beneficiary under this Agreement or under the Lease but Tenant's recourse against Beneficiary shall in no event exceed the amount of Five Million Dollars ($5,000,000.00). 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.

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 beyond the lesser of (a) Five Million Dollars ($5,000,000.00) or (b) Beneficiary's ’s then equity interest in the Property and Tenant shall look solely to Beneficiary's ’s then equity interest for the payment and performance of any obligations imposed upon Beneficiary under this Agreement or under the Lease but Tenant's ’s recourse against Beneficiary shall in no event exceed the amount of Five Million Dollars ($5,000,000.00). 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.. jka v14-Continental_Grand-Learning_Tree-Lease

Liability and Successors and Assigns. In the event that Beneficiary Lender acquires title to the Premises or the Property, Beneficiary Lender shall have no obligation nor incur any liability [beyond the lesser of (a) Five Million Dollars ($5,000,000.00) or (b) Beneficiary's Lender’s then equity interest in the Property Premises and Tenant shall look solely to Beneficiary's Lender’s then equity interest for the payment and performance of any obligations imposed upon Beneficiary Lender under this Agreement or under the Lease but Lease][in an amount in excess of $3,000,000 and Tenant's ’s recourse against Beneficiary Lender shall in no event extent exceed the amount of Five Million Dollars ($5,000,000.00)3,000,000], all as more fully provided in Section 29 of the Lease. 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 Lender assigns or transfers its interest in the Note and Deed of Trust Mortgage or the Property, all obligations and liabilities of Beneficiary Lender under this Agreement shall terminate and be the responsibility of the Foreclosure Purchaser or other party to whom Beneficiary's Lender’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 BeneficiaryLender.