Liability of Leasehold Mortgagee. No Leasehold Mortgagee shall be or become liable to Landlord as an assignee of this Lease or otherwise until it expressly assumes by written instrument such liability, and no assumption shall be inferred or result from foreclosure or other appropriate proceedings in the nature thereof or as the result of any other action or remedy provided for by any mortgage or deed of trust or other instrument executed in connection with such Leasehold Mortgage or from a conveyance from Tenant pursuant to which the purchaser at foreclosure or grantee shall acquire the rights and interests of Tenant under the terms of this Lease.
Liability of Leasehold Mortgagee. If any Leasehold Mortgagee becomes the Tenant hereunder, by Foreclosure of the Leasehold Mortgage, or under a new Lease under Section 18 below, the parties agree and acknowledge such Leasehold Mortgagee shall not be liable or responsible for and shall not be deemed to have assumed liability for any other prior actions, omissions , defaults, breaches or other events caused by or relating to any prior Tenant, such Leasehold Mortgagee shall only be liable and responsible for acts, omissions, defaults, breaches or events occurring while it is Tenant, but the prior Tenant(s) shall not be released from liability for prior occurrences. Nothing set forth in this Section 17.5 limits or otherwise modifies Landlord’s remedy under Section 17.2 to terminate this Lease for certain Defaults, subject to Leasehold Mortgagee’s right to cure a Default in accordance with the provisions of this Section 17, and right to enter into a new lease in accordance with the provisions of Section 18.
Liability of Leasehold Mortgagee. If a New ODRAFT perator shall acquire OVG’s Leasehold Estate through a Foreclosure Event or a New Agreement shall be granted to a New Operator pursuant to Section 1.8, such New Operator shall be liable for the performance of all of OVG’s covenants under the Lease Agreement or such New Agreement, as the case may be, from and after the effective date of such Foreclosure Event or New Agreement. If (A) the New Operator is a Leasehold Mortgagee or its assignee, nominee or designee, (B) such Leasehold Mortgagee, or its assignee, designee or nominee, as applicable, then assigns the Lease Agreement or the New Agreement to a third party assignee, (C) such third party assignee delivers to the City an agreement under which such assignee assumes and agrees to perform all the terms, covenants, and conditions of the Lease Agreement or such New Agreement, in form reasonably acceptable to the City, and
Liability of Leasehold Mortgagee. Notwithstanding anything to the contrary contained herein, this Leasehold Mortgage shall not constitute an assignment of the Property Lease within the meaning of any provisions thereof prohibiting its assignment and Leasehold Mortgagee shall have no liability or obligation thereunder by reason of its acceptance of the Leasehold Mortgage. Leasehold Mortgagee shall be liable for the obligations of the tenant arising under the Property Lease for only that period of time which Leasehold Mortgagee is in possession of the Property or has acquired, by foreclosure or otherwise, and is holding all of Leasehold Mortgagor’s right, title and interest therein.
Liability of Leasehold Mortgagee. In no event shall Leasehold Mortgagee have or be deemed to assume any personal liability under this Lease or any personal liability for performance of any of Tenant’s obligations under this Lease prior to becoming the Tenant under the Lease and taking possession of the Premises. Prior to becoming the Tenant under the Lease and taking possession of the Premises, nothing in this Lease shall operate to give rise to or create any responsibility or liability for the control, care, management or repair of the Premises upon such Leasehold Mortgagee, or impose responsibility for the carrying out by the Leasehold Mortgagee of any of the covenants, terms and conditions of the Tenant under this Lease, or constitute such Leasehold Mortgagee a “mortgagee in possession,” nor shall said instrument operate to make such Leasehold Mortgagee responsible or liable for any waste committed on the Premises by any person whatsoever, or for any dangerous or defective condition of the Premises, or for any negligence in the management, upkeep, repair or control of the Premises resulting in loss, injury or death to any tenant, licensee, invitee, guest, employee, agent or stranger; it being agreed that (i) Leasehold Mortgagee’s commencement of any Foreclosure or any efforts to cure any default under this Lease shall be for its own protection and shall not by itself constitute and assumption of the Lease nor obligate Leasehold Mortgagee to complete any such proceedings or cure, and (iii) in the event Leasehold Mortgagee or any affiliate or nominee thereof shall have acquired the Leasehold Interest, upon any subsequent assignment of this Lease which assignment has complied with the terms and conditions of Paragraph F above, Leasehold Mortgagee or such any affiliate or nominee shall be released from any further liability under this Lease accruing after the date of such assignment, other than any unsatisfied indemnification obligations of Tenant under the Lease or any responsibility or liability to any third party for any liabilities or obligations of the Tenant under this Lease, accruing during the assignor's tenancy period.
Liability of Leasehold Mortgagee. Except as otherwise provided for in this Lease, no Leasehold Mortgagee, trustee or purchaser under a Leasehold Mortgage shall be or become liable to Lessor as an assignee of this Lease or otherwise until it expressly assumes by written instrument such liability. Notwithstanding anything to the contrary continued herein, it is expressly provided, that any such Leasehold Mortgagee, trustee or purchaser shall only be liable to Lessor for the payment and performance of Lessee’s obligations hereunder accruing during the period that any such Leasehold Mortgagee, trustee or purchaser owns the Lessee’s leasehold estate hereunder and that any such liability or obligation assumed by Leasehold Mortgagee shall be limited to Leasehold Mortgagee’s interest in the Premises.
Liability of Leasehold Mortgagee. No Leasehold Mortgagee or any successor or assignee nor any owner of Tenant’s leasehold estate whose interest shall have been acquired at a judicial foreclosure or a trustee’s sale, by deed or assignment in lieu of foreclosure, or by a conveyance, assignment or transfer of such leasehold interest by a Leasehold Mortgagee or its successor or assignee having acquired such leasehold interest as a result of its rights under a Leasehold Mortgage, shall become personally liable under the agreements, terms, covenants or conditions of this Lease unless and until such time as the Leasehold Mortgagee or such owner becomes the owner of such interest and then only for obligations and liabilities accruing during or relating to the period during which it is the owner of such interest, subject to the provisions of Paragraph 14(b), with respect to release from liability on assignment. Nothing herein shall limit Landlord’s ability to pursue its remedies, including without limitation termination of the Lease, for pre-existing defaults, subject to the provisions of Paragraph 20 (a) (ii).
Liability of Leasehold Mortgagee. If any Leasehold Mortgagee becomes the Tenant hereunder, by foreclosure of the Leasehold Mortgage, or under a new Lease under Section 17 below, the parties agree and acknowledge that such Leasehold Mortgagee shall not be liable or responsible for and shall not be deemed to have assumed liability for any prior actions, omissions, defaults, breaches or other events caused by or relating to any prior Tenant and such Leasehold Mortgagee shall only be liable and responsible for acts, omissions, defaults, breaches or events occurring while it is Tenant, but the prior Tenant(s) shall not be released from liability for prior occurrences.
