Defined, Exculpation definition
Defined, Exculpation. The term "Lessor" as used in this Lease means only the owner or the mortgagee in possession for the time being of the building in which the premises are located or the holder of a lease of both said building and the land thereunder so that in the event of any sale of said building and the land thereunder or any assignment of this lease or any underlying lease or a demise of both said building and land, Lessor shall be and hereby is entirely freed and relieved of all obligations of Lessor hereunder and it shall be deemed without further agreement between the parties and such purchaser(s), assignee(s) or lessee(s) that the purchaser, assignee or lessee has assumed and agreed to observe and perform all obligations of Lessor hereunder. Notwithstanding anything to the contrary provided in this Lease it is specifically understood and agreed that there shall be absolutely no personal liability on the part of Lessor, or any individual partner thereof, with respect to any of the terms, covenants and conditions of this Lease, and that Lessee shall look solely to the equity of Lessor or its successor in interest in the premises or the leasehold estate of Lessor or such successor in the premises for the satisfaction of each and every remedy of Lessee in the event of any breach by Lessor or by such successor in interest of any of the terms, covenants and conditions of this Lease to be performed by Lessor, such exculpation of personal liability to be absolute and without any exception whatsoever.