Sale or Disposal of Premises Clause Samples

Sale or Disposal of Premises. The LESSOR undertakes that in the event the Schedule Property or any part thereof is sold, transferred, mortgaged or conveyed to any third party by the LESSOR, the LESSOR shall stipulate with such third party purchaser that the transfer will be fully subject to this Lease Deed between the LESSOR and the LESSEE. The LESSOR further agree to ensure that the transfer deed executed by them carries a covenant obligating the third party purchaser to acknowledge and accept the LESSEE as his own LESSEE on the same terms and conditions of this Lease Deed. The LESSOR shall ensure that the rights of the LESSEE under this Deed of Lease are not affected or curtailed by virtue of such transfer and shall ensure that the security deposit paid hereunder is returned to the LESSEE upon expiry or earlier termination of the Lease Deed.