Common use of APPLICABILITY TO HEIRS AND ASSIGNS Clause in Contracts

APPLICABILITY TO HEIRS AND ASSIGNS. The provisions of this Lease shall apply to, bind and inure to the benefit of Landlord and Tenant and their respective heirs, successors, legal representatives and assigns. It is understood that the term "Landlord" as used in this Lease means only the owner, a mortgagee in possession or a term lessee of the Building, so that in the event of any sale of the Building or of any lease thereof or if a mortgagee shall take possession of the Premises, Landlord named herein shall be and hereby is entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing thereafter, and it shall be deemed without further agreement that the purchaser, the term lessee of the Building, or the mortgagee in possession has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder accruing thereafter and Tenant shall, upon receipt of notice from the owner of the reversion, attorn thereto.

Appears in 2 contracts

Samples: Lease Agreement (Tellurian Inc /Nj/), Lease Agreement (Tellurian Inc /Nj/)

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APPLICABILITY TO HEIRS AND ASSIGNS. The provisions of this Lease shall apply to, bind and inure to the benefit of Landlord Lessor and Tenant lessee, and their respective heirs, successors, legal representatives and assigns. It is understood that the term "LandlordLessor" as used in this Lease means only the owner, a mortgagee in possession or a term lessee of the Building, for the period of time for which they are in ownership or in possession, as the case may be, so that in the event of any sale of the Building or of any lease thereof thereof, or if a mortgagee shall take possession of the Premises, Landlord the Lessor named herein shall be and hereby is entirely freed and relieved of all covenants and obligations of Landlord Lessor hereunder accruing thereafter, and it shall be deemed without further agreement that the purchaser, the term lessee of the Buildingbuilding, or the mortgagee in possession has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder accruing thereafter and Tenant shall, upon receipt of notice from the owner of the reversion, attorn theretoLessor hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Internet Commerce Corp), Lease Agreement (Internet Commerce Corp)

APPLICABILITY TO HEIRS AND ASSIGNS. The provisions of this Lease shall apply to, bind and inure to the benefit of Landlord Lessor and Tenant Lessee, and their respective heirs, successors, legal representatives and assigns. It is understood that the term "LandlordLessor" as used in this Lease means only the owner, a mortgagee in possession or a term lessee of the Building, so that in the event of any sale of the Building or and/or the parcel of land upon which the Building is situate (the "Office Building Area") and/or of any lease thereof thereof, or if a mortgagee shall take possession of the Premises, Landlord the Lessor named herein shall be and hereby is entirely freed and relieved of all covenants covenants, obligations and obligations liabilities of Landlord Lessor hereunder accruing thereafter, and it shall be deemed without further agreement that the purchaser, the term lessee of the Building, or the mortgagee in possession has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder accruing thereafter and Tenant shallLessor hereunder. In the event of any sale or transfer as provided hereinabove, upon receipt of notice from the owner liability of the reversionLessor hereunder shall cease and Lessee agrees to present any claim to the purchaser, attorn thereto.successor or assigns. W.

Appears in 1 contract

Samples: Cybear Inc

APPLICABILITY TO HEIRS AND ASSIGNS. The provisions of this Lease shall apply to, bind and inure to the benefit of Landlord Lessor and Tenant Lessee and their respective heirs, successors, legal representatives and assigns, provided that nothing herein shall be deemed to waive the provisions of Section 7 hereof. It is understood that the term "LandlordLessor" as used in this Lease means only the owner, a mortgagee in possession or a term lessee master lessor of the BuildingBuilding and/or Building Area, so that in the event of any sale of the Building and/or Building Area or of any lease thereof or if a mortgagee shall take possession of the Premises, Landlord the Lessor named herein shall be and hereby is entirely freed and relieved of all covenants and obligations of Landlord Lessor hereunder accruing thereafter, and it shall be deemed without further agreement that the purchaser, the term ground lessee of the Building, or the mortgagee in possession has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder accruing thereafter and Tenant shall, upon receipt of notice from the owner of the reversion, attorn theretoLessor hereunder.

Appears in 1 contract

Samples: Attornment Agreement (Praecis Pharmaceuticals Inc)

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APPLICABILITY TO HEIRS AND ASSIGNS. The provisions of this Lease shall apply to, bind and inure to the benefit of Landlord Lessor and Tenant Lessee, and their respective heirs, successors, legal representatives and assigns. It is understood that the term "LandlordLessor" as used in this Lease means only the owner, a mortgagee in possession or a term lessee of the Building, so that in the event of any sale of the Building and/or the Office Building Area (or assignment of the contract to purchase same) and/or of any lease thereof thereof, or if a mortgagee shall take possession of the Premises, Landlord the Lessor named herein shall be and hereby is entirely freed and relieved of all covenants covenants, obligations and obligations liabilities of Landlord Lessor hereunder accruing thereafter, and it shall be deemed without further agreement that the purchaser, the term lessee of the Building, or the mortgagee in possession has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder accruing thereafter and Tenant shallLessor hereunder. In the event of any sale or transfer as provided hereinabove, upon receipt of notice from the owner liability of the reversionLessor hereunder shall cease and Lessee agrees to present any claim to the purchaser, attorn theretosuccessor or assignee.

Appears in 1 contract

Samples: Lease Agreement (Vocaltec Communications LTD)

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