Common use of SALE OR CONVEYANCE BY LANDLORD Clause in Contracts

SALE OR CONVEYANCE BY LANDLORD. In the event of a sale or conveyance of the Premises or any interest therein by any owner of the reversion then constituting Landlord, upon written assumption by the successor in interest of the obligations and liabilities under this Lease, the transferor shall thereby be released from any then current and any further liability upon any of the terms, covenants or conditions (express or implied) herein contained in favor of Tenant, and in such event, insofar as such transfer is concerned, Tenant agrees to look solely to the responsibility of the successor in interest of such transferor in and to the Premises and this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn to the successor in interest of such transferor. Notwithstanding anything to the contrary set forth above, if Landlord sells or otherwise conveys its interest in the Premises, Landlord shall not be relieved of its obligations under the Lease, unless Landlord's successor in interest assumes, in writing, Landlord's obligations under the Lease. Prior to any such sale or conveyance of the Premises or any interest therein, Landlord shall consult with Tenant as contemplated in Paragraph 10.1.

Appears in 2 contracts

Samples: Ground Lease (Alza Corp), Ground Lease (Alza Corp)

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SALE OR CONVEYANCE BY LANDLORD. In the event of a sale or conveyance of the Premises or the Complex or any interest therein by any owner of the reversion then constituting Landlord, upon written assumption by the successor in interest of the obligations and liabilities under this Lease, the transferor shall thereby be released from any then current and any further liability upon any of the terms, covenants or conditions (express or implied) herein contained in favor of Tenant, and in such event, insofar as such transfer is concerned, Tenant agrees to look solely to the responsibility of the successor in interest of such transferor in and to the Premises and this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn to the successor in interest of such transferor. Notwithstanding anything to the contrary set forth above, if Landlord sells or otherwise conveys its interest in the PremisesPremises or Complex, Landlord shall not be relieved of its obligations under the Lease, unless Landlord's successor in interest assumes, in writing, Landlord's obligations under the Lease. Prior to any such sale or conveyance of the Premises or any interest therein, Landlord shall consult with Tenant as contemplated in Paragraph 10.1.

Appears in 2 contracts

Samples: Alza Corporation Lease Agreement (Alza Corp), Lease Agreement (Alza Corp)

SALE OR CONVEYANCE BY LANDLORD. In the event of a sale or conveyance of the Premises or any interest therein therein, by any owner of the reversion then constituting Landlord, upon written assumption by the successor in interest of the obligations and liabilities under this Lease, the transferor shall thereby be released from any then current and any further liability upon any of the terms, covenants or conditions (express or implied) herein contained in favor of Tenant, and in such event, insofar as such transfer is concerned, Tenant agrees to look solely to the responsibility of the successor in interest of such transferor in and to the Premises and this Lease. This Lease shall not be affected by any such sale or conveyance, and Tenant agrees to attorn to the successor in interest of such transferor. Notwithstanding anything to Upon any sale or transfer, (i) Landlord shall not be released from any then outstanding liability arising under this Lease during the contrary set forth aboveperiod preceding the date of transfer, if Landlord sells or otherwise conveys its interest in the Premises, and (ii) Landlord shall not be relieved of its the obligations under the Lease, Lease which may accrue after the date of a sale or other transfer unless Landlord's successor the transferee agrees in interest assumes, in writing, Landlord's writing to assume and be bound by the terms of this Lease and to perform all obligations of the Landlord under the Lease. Prior to any Lease which may accrue after the date of such sale or conveyance of the Premises or any interest therein, Landlord shall consult with Tenant as contemplated in Paragraph 10.1transfer.

Appears in 1 contract

Samples: Lease Agreement (Opti Inc)

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SALE OR CONVEYANCE BY LANDLORD. In the event of a sale or conveyance of the Premises or any interest therein therein, by any owner of the reversion then constituting Landlord, upon written assumption by the successor in interest of the obligations and liabilities under this Lease, the transferor shall thereby be released from any then current and any further liability upon any of the terms, covenants or conditions (express or implied) herein contained in favor of TenantTenant provided that the transferee has agreed in writing to be bound by all such terms, covenants or conditions in this Lease, and in such event, insofar as such transfer is concerned, Tenant Xxxxxx agrees to look solely to the responsibility of the successor in interest of such transferor in and to the Premises Parcel and this LeaseLease for any Single Tenant/Single Parcel Initial: [***] obligations of Landlord first accruing after the date of such transfer, unless the successor in interest has also agreed in writing to assume any prior obligations of Landlord, in which event Tenant shall look to the successor in interest for any obligations of Landlord that may have accrued prior to as well as after said sale or conveyance by Xxxxxxxx. This Lease shall not be affected by any such sale or conveyance, and Tenant Xxxxxx agrees to attorn to the successor in interest of such transferor. Notwithstanding anything to the contrary set forth above, if Landlord sells or otherwise conveys its interest in the Premises, Landlord shall not be relieved of its obligations under the Lease, unless Landlord's successor in interest assumes, in writing, Landlord's obligations under the Lease. Prior to any such sale or conveyance of the Premises or any interest therein, Landlord shall consult with Tenant as contemplated in Paragraph 10.1.

Appears in 1 contract

Samples: Lease Agreement (CymaBay Therapeutics, Inc.)

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