Effect of Conveyance. As used in this Sublease, the term "Sublandlord" means the holder of the Tenant's interest under the Master Lease. In the event of any assignment or transfer of the Tenant's interest under the Master Lease, which assignment or transfer may occur at any time during the Term hereof in Sublandlord's sole discretion, Sublandlord shall be and hereby is entirely relieved of all covenants and obligations of Sublandlord hereunder, and it shall be deemed and construed, without further agreement between the parties hereto, that any transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublandlord hereunder. Sublandlord may transfer and deliver any security of Subtenant to the transferee of the Tenant's interest under the Master Lease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto.
Effect of Conveyance. As used in this Agreement, the term "Sublessor" means the holder of the tenant's interest under the Master Lease. In the event of any assignment, transfer or termination of the tenant's interest under the Master Lease, Sublessor shall be and hereby is entirely relieved of all covenants and obligations of Sublessor accruing after the date of such transfer, and it shall be deemed and construed, that any transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublessor hereunder; provided, however, that no such assignment, transfer or termination shall terminate this Agreement or affect Sublessee's rights to use the Subleased Premises as provided in this Agreement.
Effect of Conveyance. As used in this Sublease, the term "Sublessor" means the holder of the lessee's interest under the Master Lease. In the event of any transfer of said lessee's interest, the Sublessor shall be and hereby is entirely relieved of all covenants and obligations of the Sublessor hereunder from and after the date of the transfer, and it shall be deemed and construed, without further agreement between the parties, that the transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublessor hereunder. Sublessor shall transfer and deliver any security of Sublessee to the transferee of said lessee's interest in the Master Lease, and thereupon the Sublessor shall be discharged from any further liability with respect thereto.
Examples of Effect of Conveyance in a sentence
Effect of Conveyance: As used in this Sublease, the term “Sublessor” means the holder of the tenant’s interest under the Master Lease.
LIABILITY OF LANDLORD 31 26.1 Landlord’s Default 31 26.2 Limitation of Liability 31 26.3 Effect of Conveyance 32 27.
Effect of Conveyance: As used in this Sublease, the term “Sublessor” means the holder of the “Tenant’s” interest under the Master Lease.
More Definitions of Effect of Conveyance
Effect of Conveyance. As used in this Sublease, the term "Sublessor" means the holder of the tenant's interest under the Master Lease. In the event of any transfer of said tenant's interest, Sublessor shall be and hereby is entirely relieved of all covenants and obligations of Sublessor hereunder, and it shall be deemed and construed, without further agreement between the parties, that the transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublessor hereunder. Sublessor may transfer and deliver any security of Sublessee to the transferee of said tenant's interest in the Master Lease, and thereupon Sublessor shall be discharged from any further liability with respect thereto.
Effect of Conveyance. The Term "Landlord" as used in this Lease, means only the owner for the time being of the Property containing the Building, so that, in the event of any sale of the Property or the Building, Landlord shall be and hereby is entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing from and after transfer, and it shall be deemed and construed, without further agreement between the parties and the purchaser at any such sale, that the purchaser of the Property or the Building has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder.
Effect of Conveyance. As used in this Sublease, the term "Sublandlord" means the holder of the Tenant's interest under the Master Lease. In the event of any transfer of Txxxxx's interest under the Master Lease, from and after the effective date thereof Sublandlord shall be and hereby is entirely relieved of all covenants and obligations of Sublandlord hereunder, and it shall be deemed and construed, without further agreement between the parties, that the transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublandlord hereunder, without any further action by Sxxxxxxxxxx, Subtenant or such transferee. Sublandlord shall transfer and deliver any Security Deposit of Subtenant to the transferee of said Txxxxx's interest in the Master Lease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto.
Effect of Conveyance. As used in this Sublease, the term "Sublandlord" -------------------- means the holder of the Lessee's interest under the Master Lease. Sublandlord may transfer and deliver (by cash or credit) any security of Subtenant to the transferee of the Lessee's interest under the Master Lease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto.
Effect of Conveyance. As used in this Sublease, the term "Sublessor" -------------------- means the holder of the Tenant's interest under the Master Lease. In the event of any assignment, transfer or termination of the Tenant's interest under the Master Lease, which assignment, transfer or termination may occur at any time during the Term hereof in Sublessor's sole discretion, Sublessor shall be and hereby is entirely relieved of all covenants and obligations first accruing from and after the date of such transfer so long as such transferee agrees to assume and carry out all covenants and obligations thereafter to be performed by Sublessor hereuder. Sublessor shall transfer and deliver any security of Sublessee to the transferee of the Tenant's interest under the Master Lease, and thereupon Sublessor shall be discharged from any further liability with respect thereto.
Effect of Conveyance. As used in this Sublease, the term "Sublessor" means the holder of the "Tenant's" interest under the Master Lease. In the event of any assignment or transfer of the "Tenant's" interest under the Master Lease, which assignment or transfer may occur at any time during the Term hereof, as between Sublessor and Sublessee, Sublessor shall be and hereby is entirely relieved of all covenants and obligations of Sublessor hereunder arising from and after the date of such transfer, provided that Sublessor delivers to Sublessee the written agreement of the transferee to assume and carry out all covenants and obligations to be performed by Sublessor hereunder from and after the date of such transfer. Sublessor may transfer and deliver any security of Sublessee to the transferee of the "Tenant's" interest under the Master Lease, and thereupon Sublessor shall be discharged from any further liability with respect thereto. Any fees or costs relating to the transfer of any Letter of Credit shall be paid by Sublessee.
Effect of Conveyance. As used in this Sublease, the term “Sublessor” means the holder of the “Tenant’s” interest under the Master Lease. In the event of any assignment, transfer or termination of the “Tenant’s” interest under the Master Lease, which assignment, transfer or termination may occur at any time during the Term hereof in Sublessor’s sole discretion (subject to the terms of the Master Lease), Sublessor shall be and hereby is entirely relieved of all covenants and obligations of Sublessor hereunder to the full extent such transferee has expressly agreed in writing to assume and carry out all covenants and obligations thereafter to be performed by Sublessor hereunder. Sublessor may transfer and deliver any security of Sublessee to the transferee of the tenant’s interest under the Master Lease, and thereupon Sublessor shall be discharged from any further liability with respect thereto. 13.