LESSOR'S LIABILITY definition

LESSOR'S LIABILITY. The term Lessor as used herein shall mean only the owner or owners at the time in question of the Lessee’s interest in this Lease. Lessor herein named (and in case of any subsequent transfers the then grantor) upon transfer of title of said premises, shall be relieved from all obligations as Lessor thereafter.
View Source
LESSOR'S LIABILITY. The term "Lessor" as used herein shall mean only the owner or owners at the time in question of the fee title or a Lessee's interest in a ground lease of the Premises, and except as expressly provided in Paragraph. 15, in the event of any transfer of such title or interest, Lessor herein named (and in case of any subsequent transfers the then grantor) shall be relieved from and after the date of such transfer of all liability as respects Lessor's obligations thereafter to be performed, provided that any funds in the hands of Lessor or the then grantor at the time of such transfer, in which Lessee has an interest, shall be delivered to the grantee. The obligations contained in this Lease to be performed by Lessor shall, subject as aforesaid, be binding on Lessor's successors and assigns, only during their respective periods of ownership.
View Source
LESSOR'S LIABILITY. The term "Lessor" as used herein shall mean the owner or owners at the time in question of the fee title to the Premises, or, if this is a sublease, of the lessee's interest in the prior lease. In the event of a transfer of Lessor's title or interest in the Premises or in this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor at the time of such transfer or assignment. Except as provided in Paragraph 15, upon such transfer or assignment and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by the Lessor, provided that the transferee or assignee assumes in writing all of Lessor's obligations under this Lease. Nothing contained herein shall, however, release Lessor from any obligations accruing during such Lessor's ownership or possession of the Premises. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined.
View Source

Examples of LESSOR'S LIABILITY in a sentence

  • NO AGREEMENT OR UNDERSTANDING VARYING, ALTERING OR EXTENDING LESSOR'S LIABILITY WILL BE BINDING ON LESSOR UNLESS IN WRITING AND SIGNED BY LESSEE'S AND LESSOR'S DULY AUTHORIZED OFFICER OR REPRESENTATIVE.

  • NO AGREEMENT OR UNDERSTANDING VARYING, ALTERING, OR EXTENDING LESSOR'S LIABILITY WILL BE BINDING ON LESSOR UNLESS WRITING AND SIGNED BY LESSEE'S AND LESSOR'S DULY AUTHORIZED OFFICER OR REPRESENTATIVE.

  • RELEASE OF LESSOR'S LIABILITY FOR PROPERTY DAMAGE: All personal property stored within or upon the storage space by Lessee shall be at Lessee's sole risk.

  • LESSOR'S LIABILITY FOR LOSS OF PROPERTY............................23 39.

  • LIMITATIONS OF LESSOR=S LIABILITY: Lessor is not an insurer of Tenant's person or possessions.

  • IN NO EVENT WILL LESSOR'S LIABILITY OF ANY KIND INCLUDE ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, EVEN IF LESSOR HAS KNOWLEDGE OF THE POSSIBILITY OF SUCH POTENTIAL LOSS OR DAMAGE.

  • LESSEE'S AND LESSOR'S LIABILITY PURSUANT TO THE TERMS OF THIS ARTICLE SHALL SURVIVE THE EXPIRATION OR EARLIER TERMINATION OF THIS LEASE.

  • LESSOR'S LIABILITY FOR LOSS OF PROPERTY...............................

  • IN NO EVENT SHALL THE LESSOR'S LIABILITY EXCEED THE PROCEEDS OF THE SALE.

  • NO OFFICER, EMPLOYEE OR AGENT OF LESSOR HAS AUTHORITY TO MODIFY OR EXPAND LESSOR'S LIABILITY UNDER THIS SECTION.


More Definitions of LESSOR'S LIABILITY

LESSOR'S LIABILITY. The term "Lessor", as used in this paragraph, shall mean only the owner of the real Premises or a Lessee's interest in a ground Lease of the Premises. In the event of any transfer of such title or interest, the Lessor named herein (or the grantor in case of any subsequent transfers) shall be relieved of all liability related to Lessor's obligations to be performed after such transfer. Provided, however, that any funds in the hands of Lessor or Grantor at the time of such transfer shall be delivered to Grantee. Lessor's aforesaid obligations shall be binding upon Lessor's successors and assigns only during their respective periods of ownership.
View Source
LESSOR'S LIABILITY. The term "Lesser," as used in this paragraph shall mean only the owner of the fee or land contract vendee's interest in the real property or a Lessee's interest in a ground lease of the premises. In no event shall the Lessor's liability exceed the fair market value of the Lessor's Interest in the premises. In the event of any transfer of title or interest, the Lessor named herein (or the grantor in case of any subsequent transfers) shall be relieved of all liability related to Lessor's obligations to be performed after the transfer. Any security deposits in the hands of Lessor or Grantor at the time of such transfer shall be delivered to Grantee. Lessor's aforesaid obligations shall be binding upon Lessor's successors and assigns only during their respective period of ownership.
View Source
LESSOR'S LIABILITY. If Lessee should recover a money judgment against Lessor arising in connection with this Lease, the judgment shall be satisfied only out of the Lessor's interest in the Building and neither Lessor or any of its partners shall be liable personally for any deficiency.
View Source

Related to LESSOR'S LIABILITY

  • Landlord Parties means Landlord and Property Manager and their respective officers, directors, partners, shareholders, members and employees.

  • Environmental Damages means all claims, demands, liabilities (including strict liability), losses, damages (including consequential damages), causes of action, judgments, penalties, fines, costs and expenses (including reasonable fees, costs and expenses of attorneys, consultants, contractors, experts and laboratories), of any and every kind or character, contingent or otherwise, matured or unmatured, known or unknown, direct or indirect, foreseeable or unforeseeable, made, incurred, suffered or brought at any time and from time to time and arising in whole or in part from:

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.