Common use of Transfers by Landlord Clause in Contracts

Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall be limited to mean and include only the owner or owners of the Office Complex at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all liability accruing from and After the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex or any part of the Office Complex, the same shall operate to release Landlord from any future liability upon any of the covenants or conditions herein contained and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn to the purchaser or grantee, which shall be personally obligated on this Lease only so long as it is the owner of Landlord's interest in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenant.

Appears in 1 contract

Samples: Stanford Telecommunications Inc

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Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall will be limited to mean and include only the owner or owners of the Office Complex at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall guarantor will be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all personal liability accruing from and After after the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is performed, it being intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall will be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex or any part of the Office Complex, the same shall will operate to release Landlord from any future liability upon any of the covenants or conditions herein contained and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this Lease. This Lease shall will not be affected by any such sale or conveyance, and Tenant agrees to attorn to the purchaser or grantee, which shall will be personally obligated on this Lease only so long as it is the owner of Landlord's interest in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenant.

Appears in 1 contract

Samples: Vitria Technology Inc

Transfers by Landlord. The term "Landlord" as used Except with respect to a Landlord Transfer to a City Controlled Entity that is capable of performing and complying with all obligations of Landlord hereunder, Landlord shall not effect a Landlord Transfer of its interest in the Leased Premises, or any part thereof or interest therein, or this Lease so far as covenants at any time or obligations on from time to time to any Person (a “Landlord Transferee”), without the part prior Approval of Landlord are concerned Tenant, such Approval not to be unreasonably withheld, it being agreed, for the avoidance of doubt, that it shall be limited deemed reasonable for Tenant to mean and include only withhold its Approval if such transfer could compromise the owner validity or owners of the Office Complex at the time in question, and in the event availability of any transfer or transfers or conveyances the tax exemption then grantor shall be automatically freed and released (except applicable to the extent otherwise provided in Leased Premises. For purposes of this Section 16.20 hereof) from all liability accruing from and After the date of such 21.7, a “Landlord Transfer” shall mean any sale, conveyance, assignment or other transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex Leased Premises or this Lease or any part thereof or interest therein by Landlord. Landlord shall promptly give Notice to Tenant advising Tenant of the Office Complex, the same shall operate name of any Landlord Transferee. Any security given by Tenant to release secure performance of Tenant’s obligations under this Lease will be transferred by Landlord from any future liability upon any of the covenants or conditions herein contained and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this Lease. This Lease shall not be affected by any such sale or conveyanceLandlord, and Tenant agrees to attorn to the purchaser or grantee, which shall be personally obligated on this Lease only so long as it is the owner of Landlord's interest in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent thereby be discharged of Tenantany further obligation relating thereto.

Appears in 1 contract

Samples: Lease and Development Agreement

Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall will be limited to mean and include only the owner or owners of the Office Complex at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall will be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all personal liability accruing from and After after the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as (provided that the successor landlord agrees to assume the original landlord's obligations and a copy of transferee assumes such instrument is promptly delivered to Tenant. It is covenants or obligations), it being intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall will be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex or any part of the Office Complex, the same shall will operate to release Landlord from any future liability upon any of the covenants or conditions herein contained and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this LeaseLease (provided that the transferee assumes such covenants or obligations). This Lease shall will not be affected by any such sale or conveyance, and Tenant agrees to attorn to the purchaser or grantee, which shall will be personally obligated on this Lease only so long as it is the owner of Landlord's ’s interest in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenant.

Appears in 1 contract

Samples: Office Lease (Depomed Inc)

Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall be limited to mean and include only the owner or owners of the Office Complex at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all liability accruing from and After the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a the sale or conveyance by Landlord other transfer of Landlord's right, title and interest in the Leased Premises or a portion of the Office Complex Property on which the Premises is located (except in the case of a sale-leaseback financing transaction in which Landlord is the tenant), Landlord shall transfer and assign to such purchaser or transferee all amounts of pre-paid Base Rent and Additional Rent, and Landlord thereupon and without further act by either party hereto shall be released from all liability and obligations hereunder derived from this Lease arising out of any part of the Office Complexact, the same shall operate to release Landlord from any future liability upon any of the covenants occurrence or conditions herein contained and in such event Tenant agrees to look solely omission relating to the responsibility Leased Premises or this Lease occurring after the consummation of the successor in interest of Landlord in and to this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn transfer (provided however that the release of an obligation for Security or pre-paid rent shall be released only to the purchaser or grantee, which extent such sums were transferred to the transferee). Tenant shall be personally obligated on have no right to terminate this Lease only so long or to axxxx Rent nor to deduct from, nor set-off, nor counterclaim against Rent because of any sale or transfer (including, without limitation, any sale-leaseback) by Landlord or its successors or assigns. Upon any sale or other transfer as it is the owner above provided (other than a sale-leaseback), or upon any assignment of Landlord's interest in herein, it shall be deemed and construed conclusively, without further agreement between the parties, that the purchaser or other transferee or assignee has assumed and agreed to this Lease. Notwithstanding anything to perform the contrary contained in this Section 16.11, obligations of Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenantthereafter accruing.

Appears in 1 contract

Samples: Lease Agreement (Karat Packaging Inc.)

Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned concerned, shall be limited to mean and include only the owner or owners of the Office Complex Land at the time in question, and in the event of any transfer or transfers or conveyances conveyance, the then grantor shall be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all personal liability accruing from and After after the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is performed, it being intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on the Landlord, its it successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex Land or any part of the Office ComplexLand, the same shall operate to release Landlord from any future liability upon any of the covenants or conditions herein contained and in such event Tenant Xxxxxx agrees to look solely to the responsibility of the successor in interest of Landlord Xxxxxxxx in and to this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant Xxxxxx agrees to attorn to the purchaser or grantee, which shall be personally obligated on this Lease only so long as it is the owner of Landlord's ’s interest in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenant.

Appears in 1 contract

Samples: Commercial Lease Agreement (Lulu's Fashion Lounge Holdings, Inc.)

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Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall be limited to mean and include only the owner or owners of the Office Complex at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all liability accruing from and After the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on have the Landlordunrestricted right to sell, its successors and assignsassign, only during and in respect to their respective successive periods mortgage, encumber, or otherwise dispose of ownership. In the event of a sale or conveyance by Landlord of the Office Complex all or any part of the Office ComplexProperty or any interest therein. Upon sale or other disposition of the Property to a party who assumes the obligations of Landlord under this Lease, the same Landlord shall operate to release Landlord be released and discharged from any future liability upon any of the covenants or conditions herein contained obligations and in such event liabilities thereafter accruing under this Lease, and Tenant agrees to shall look solely to the responsibility Landlord's successor for performance of the Lease thereafter. (Landlord shall require the successor Landlord(s) to accept this obligation in interest of Landlord in and to writing or the foregoing exculpation shall be void). Tenant's obligations under this Lease. This Lease shall not be affected by any such sale sale, assignment, mortgage, encumbrance, or conveyanceother disposition of the Property by Landlord, and Tenant agrees to shall attorn to anyone who thereby becomes the purchaser or grantee, which shall be personally obligated on this Lease only so long as it is the owner of successor to Landlord's interest in this Lease so long as such successor in interest of Landlord recognizes this Lease and agrees to Landlord's Lease obligations hereunder in a writing addressed and delivered promptly to Tenant and signed by the Landlord's proprietor or by an authorized officer or partner of such successor Landlord. The Landlord shall notify the Tenant of any such conveyance by sending Tenant written notice thereof to Tenant's address specified in this Lease, as the same may have been modified by the Tenant from time to time in accordance herewith. Notwithstanding anything However, any such conveyance of Landlord's legal ownership of the Property, or any conveyance which would result in releasing the Landlord from this Lease, shall entitle the Tenant to terminate this Lease if (a) the contrary contained in this Section 16.11, new Landlord is not reasonably shown to be financially capable of discharging Landlord's duties hereunder. Rent shall not xxxxx during such period. The Landlord shall not assign its interest cooperate with Tenant in this Lease prior to any inquiry by Tenant within such notice period in ascertaining the Commencement Date without requisite financial capacity of the prior written consent of Tenantnew Landlord.

Appears in 1 contract

Samples: Lease Agreement (Capital Bancorp Inc)

Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall be limited to mean and include only the owner or owners of the Office Complex at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all liability accruing from and After the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenant. It is intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex Project or a foreclosure by any part creditor of the Office ComplexLandlord, the same shall operate to release Landlord from any future liability upon any of the covenants or conditions conditions, express or implied, herein contained in favor of Tenant, to the extent required to be performed after the passing of title to Landlord’s successor-in-interest; provided that such transferee shall have fully assumed and in be liable for all obligations of this Lease to be performed by Landlord, including the return of any Security Deposit and the payment of any tenant improvement allowance. In such event event, Tenant agrees to look solely to the responsibility of the successor in successor-in-interest of Landlord in under this Lease with respect to the performance of the covenants and duties of “Landlord” to this Leasebe performed after the passing of title to Landlord’s successor-in-interest. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn to the purchaser or granteeassignee. Subject to the provisions of this Paragraph 27, which Landlord’s successor(s)-in-interest shall not have liability to Tenant with respect to the failure to perform any of the obligations of “Landlord,” to the extent required to be personally obligated on this Lease only so long as it is performed prior to the date such successor(s)-in-interest became the owner of Landlord's interest the Project. party shall pay all costs incurred by the prevailing party including reasonable attorneys’ fees, to be fixed by the court, and said costs and attorneys’ fees shall be a part of the judgment in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenantsaid action.

Appears in 1 contract

Samples: Industrial Lease (Guardion Health Sciences, Inc.)

Transfers by Landlord. The term "Landlord" as used in this Lease so far as covenants or obligations on the part of Landlord are concerned shall be limited to mean and include only the owner or owners of the Office Complex Premises at the time in question, and in the event of any transfer or transfers or conveyances the then grantor shall be automatically freed and released (except to the extent otherwise provided in Section 16.20 hereof) from all liability accruing from and After after the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Landlord contained in this Lease to be performed so long as the successor landlord agrees to assume the original landlord's obligations and a copy of such instrument is promptly delivered to Tenantperformed. It is intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall be binding on the Landlord, its successors and assigns, only during and in respect to their respective successive periods of ownership. In the event of a sale or conveyance by Landlord of the Office Complex Premises or any part of the Office Complexthereof, the same shall operate to release Landlord from any future liability upon any of the covenants or conditions herein contained and in such event Tenant agrees to look solely to the responsibility of the successor in interest of Landlord in and to this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn to the purchaser or grantee, which shall be personally obligated on this Lease only so long as it is the owner of Landlord's interest in and to this Lease. Notwithstanding anything to the contrary contained in this Section 16.11, Landlord shall not assign its interest in this Lease prior to the Commencement Date without the prior written consent of Tenant.

Appears in 1 contract

Samples: And Attornment Agreement (Ace Hardware Corp)

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