Common use of EXCULPATION OF LANDLORD Clause in Contracts

EXCULPATION OF LANDLORD. The word “Landlord” in this Lease includes the Landlord executing this Lease as well as its successors and assigns, each of which shall have the same rights, remedies, powers, authorities and privileges as it would have had it originally signed this Lease as Landlord. Any such person or entity, whether or not named in this Lease, shall have no liability under this Lease after it ceases to hold title to the Leased Premises except for obligations already accrued (and, as to any unapplied portion of Tenant’s Security, Landlord shall be relieved of all liability upon transfer of such portion to its successor in interest). Tenant shall look solely to Landlord’s successor in interest for the performance of the covenants and obligations of the Landlord hereunder which subsequently accrue. Landlord shall not be deemed to be in default under this Lease unless Tenant gives Landlord written notice specifying the default and Landlord fails to cure the default within a reasonable period following Tenant’s notice. In no event shall Landlord be liable to Tenant for any loss of business or profits of Tenant or for consequential, punitive or special damages of any kind. Neither Landlord nor any principal of Landlord nor any owner of the Office Park, whether disclosed or undisclosed, shall have any personal liability with respect to any of the provisions of this Lease or the Leased Premises; Tenant shall look solely to the equity of Landlord in the Office Park for the satisfaction of any claim by Tenant against Landlord and no deficiency judgment or other judgment for money damages shall be entered by Tenant against Landlord.

EXCULPATION OF LANDLORD. The word “Landlord” in this Lease includes the Landlord executing this Lease as well as its successors and assigns, each of which shall have the same rights, remedies, powers, authorities and privileges as it would have had it originally signed this Lease as Landlord. Any such person or entity, whether or not named in this Lease, shall have no liability under this Lease after it ceases to hold title to the Leased Premises except for obligations already accrued (and, as to any unapplied portion of Tenant’s Security, Landlord shall be relieved of all liability upon transfer of such portion to its successor in interest). Tenant agrees that Tenant shall look solely to Landlord’s successor in 's interest for the performance of the covenants and obligations of the Landlord hereunder which subsequently accrue. Landlord shall not be deemed to be in default under this Lease unless Tenant gives Landlord written notice specifying the default and Landlord fails to cure the default within a reasonable period following Tenant’s notice. In no event shall Landlord be liable to Tenant for any loss of business or profits of Tenant or for consequential, punitive or special damages of any kind. Neither Landlord nor any principal of Landlord nor any owner of the Office Park, whether disclosed or undisclosed, shall have any personal liability with respect to any of the provisions of this Lease or the Leased Premises; Tenant shall look solely to the equity of Landlord in the Office Park Building, the Property and Landlord's personal property used in connection therewith ("Landlord's Personal Property") for the satisfaction of any claim by Tenant claim, judgment or decree against Landlord based upon any default hereunder (a "Tenant Claim"), and no deficiency judgment other property or assets of Landlord, its successor or assigns, or any partner, member, shareholder or other judgment for money damages beneficial owner of any interest in Landlord, or any partner, member, shareholder or other beneficial owner of any such beneficial owner, shall be entered subject to the levy, execution or other enforcement procedure for the satisfaction of any such Tenant Claim. For purposes of this Section, and subject to the exceptions set forth below, "interest in the Building, the Property and Landlord's Personal Property" shall mean, and Tenant may satisfy any Tenant Claim from (i) Landlord's right, title and interest in the Building, the Property and Landlord's Personal Property, including net rental income (after deducting all Operating Costs of the Building including payment of any mortgage) and net proceeds from a sale received by Landlord after the date Landlord has been found liable for such Tenant against Claim by a court of competent jurisdiction and the same is not appealable by Landlord ("Claim Date"), (ii) any net insurance or condemnation proceeds received by Landlord because of damage or condemnation to or of the Building, the Property and Landlord's Personal Property after the Claim Date, and (iii) Landlord's right, title and interest in any ground lease, or master lease or other lease of the Building having Landlord as the tenant thereunder. Nothing in this Section shall be interpreted to mean that Tenant cannot be awarded specific performance or injunctive relief. No holder or beneficiary of any mortgage or deed to secure debt on any part of the Property shall have any liability to Tenant hereunder for any default of Landlord unless any written agreement between Tenant and such holder or beneficiary shall provide otherwise. For the purposes of this paragraph, the "net proceeds" from a sale or of insurance or condemnation shall mean the gross proceeds received by Landlord, less in each instance the reasonable costs and expenses (including, without limitation, attorney's fees and expenses) paid or incurred in connection with collection of such proceeds, and less any amount applied to any indebtedness encumbering the Property or Building or (in the case of insurance or condemnation proceeds) the restoration or repair of the Property, Building or Premises. If the Property is sold during the pendency of a Tenant Claim, Tenant shall have the right to look to the new landlord's interest in the Property as it exists at the time of the judgment. Landlord agrees that as a condition precedent to the effectiveness of the release in favor of Landlord set forth above with respect to any Tenant Claim which originates from events or circumstances occurring prior to a sale or transfer of the Property but which has not been reduced to judgment prior to such sale or transfer, Landlord will cause the purchaser or transferee of the Property to assume Landlord's liability with respect to all obligations and liabilities of Landlord accruing under the Lease prior to the date of transfer.

EXCULPATION OF LANDLORD. The word “Landlord” in this Lease includes the Landlord executing this Lease as well as its successors and assigns, each of which shall have the same rights, remedies, powers, authorities and privileges as it would have had it originally signed this Lease as Landlord. Any such person or entity, whether or not named in this Lease, shall have no liability under this Lease after it ceases to hold title to the Leased Premises except for obligations already accrued (and, as to any unapplied portion of Tenant’s Security, Landlord shall be relieved of all liability upon transfer of such portion to its successor in interest). Tenant shall look solely to Landlord’s successor in interest for the performance of the covenants and obligations of the Landlord hereunder which subsequently accrue. Landlord shall not be deemed to be in default under this Lease unless Tenant gives Landlord written notice specifying the default and Landlord fails to cure the default within a reasonable period following Tenant’s notice. In no event shall either Landlord or Tenant be liable to Tenant the other for any loss of business or profits of Tenant the other or for consequential, punitive or special damages of any kind. kind Neither Landlord nor any principal of Landlord nor any owner of the Office Park, whether disclosed or undisclosed, shall have any personal liability with respect to any of the provisions of this Lease or the Leased Premises; Tenant shall look solely to the equity of Landlord in the Office Park for the satisfaction of any claim by Tenant against Landlord and no deficiency judgment or other judgment for money damages shall be entered by Tenant against Landlord. If Landlord shall fail to perform one or more of its obligations under this Lease, and such failure shall continue and not be remedied within 30 days after Tenant shall have given a written notice to Landlord specifying the same (or such longer period of time if such default cannot reasonably be cured within such 30-day period despite Landlord’s due diligence, provided Landlord duly commences and thereafter diligently and continuously prosecutes to completion all steps necessary to cure such default), then Tenant shall have the right to cure such default and Landlord shall reimburse Tenant for the reasonable cost thereof within thirty (30) days after receipt of copies of invoices from Tenant.

EXCULPATION OF LANDLORD. The word “Landlord” in this Lease includes the Landlord executing this Lease as well as its successors and assigns, each of which shall have the same rights, remedies, powers, authorities and privileges as it would have had it originally signed this Lease as Landlord. Any such person or entity, whether or not named in this Lease, shall have no liability under this Lease after it ceases to hold title to the Leased Premises except for obligations already accrued (and, as to any unapplied portion of Tenant’s Security, Landlord shall be relieved of all liability upon transfer of such portion to its successor in interest). Tenant shall look solely to Landlord’s successor in interest for the performance of the covenants and obligations of the Landlord hereunder which subsequently accrue. Landlord shall not be deemed to be in default under this Lease unless Tenant gives Landlord written notice specifying the default and Landlord fails to cure the default within a reasonable period following Tenant’s notice. In no event shall Landlord be liable to Tenant for any loss of business or profits of Tenant or for consequential, punitive or special damages of any kind. Neither Landlord nor any principal of Landlord nor any owner of the Office Park, whether disclosed or undisclosed, shall have any personal liability with respect to any of the provisions of this Lease or the Leased Premises; Tenant shall look solely to the amount of equity of Landlord in the Office Park Building and underlying land where the Leased Premises is located for the satisfaction of any claim by Tenant against Landlord and no deficiency judgment or other judgment for money damages in excess thereof shall be entered by Tenant against Landlord.