Common use of Transfers by Landlord Clause in Contracts

Transfers by Landlord. Tenant acknowledges and agrees that Landlord has the unrestricted right to mortgage, encumber, convey and assign its interest in the Leased Property. Tenant agrees and acknowledges that, at the request of Landlord and in consideration for the granting of the Leased Property to Tenant, Tenant shall enter into and execute certain documents, agreements or instruments to mortgage, encumber, convey and assign its interest in the Leased Property to further secure any financing obtained by Landlord. If Landlord conveys the Leased Property in accordance with the terms hereof to a Mortgagee, or to a grantee or transferee that expressly assumes in writing all obligations of Landlord hereunder arising or accruing from and after the date of such conveyance or transfer, then Landlord shall thereupon be released from all future liabilities and obligations of Landlord under this Lease arising or accruing from and after the date of such conveyance or other transfer as to the Leased Property and all such future liabilities and obligations shall thereupon be binding upon the new owner.