Release Upon Qualified Assignment Sample Clauses

Release Upon Qualified Assignment. Notwithstanding anything in this Article VII or elsewhere in this Lease to the contrary, upon an assignment of this Lease to a Qualified Assignee (as defined below), the assigning Tenant shall be automatically released from any and all liabilities and obligations under this Lease arising out of or relating to the portion of the Lease Term following the effective date of the assignment. A “Qualified Assignee” means an assignee meeting the net worth requirement set forth in either Section 7.2(c) or Section 7.2(d) (provided, if the Security Deposit is required to be provided in connection with such assignment pursuant to Section 7.2(d), such Security Deposit shall be delivered to Landlord as a condition to Tenant’s release).