Common use of Sale or Transfer of Premises Clause in Contracts

Sale or Transfer of Premises. Subject to the provisions of Section 2(c), if Landlord sells or transfers all or any portion of the Premises, Landlord, on consummation of the sale or transfer, shall be released from any liability thereafter accruing under this Lease. If any security deposit or prepaid rent has been paid by Tenant, Landlord can transfer the security deposit or prepaid rent to Landlord's successor and on such transfer Landlord shall be discharged from any further liability in reference to the security deposit or prepaid rent.

Sale or Transfer of Premises. Subject to the provisions of Section 2(c), if If Landlord sells or transfers all or any ---------------------------- portion of the Premises, Landlord, on consummation of the sale or transfer, shall be released from any liability thereafter accruing under this Lease. If any security deposit or prepaid rent has been paid by Tenant, Landlord can may transfer the security deposit or and/or prepaid rent to Landlord's successor successor-in- interest and on such transfer Landlord shall be discharged from any further liability in reference to arising from the security deposit or prepaid rent.