Common use of Limitation of Successor Landlord Liability Clause in Contracts

Limitation of Successor Landlord Liability. Anything herein to the contrary notwithstanding, in the event a Successor Landlord shall acquire title to the Leased Property (which, for purposes of this Section 15.3, shall include Landlord at any time after Landlord’s Lender (or its nominee or designee) shall have acquired direct or indirect control of the voting interests in any Landlord), Successor Landlord shall have no obligation, nor incur any liability, beyond Successor Landlord’s then interest, if any, in the Leased Property, and Tenant shall look exclusively to such interest, if any, of Successor Landlord in the Leased Property for the payment and discharge of any obligations imposed upon Successor Landlord under this Lease. Tenant agrees that, with respect to any money judgment which may be obtained or secured by Tenant against Successor Landlord, Tenant shall look solely to the estate or interest owned by Successor Landlord in the Leased Property (including, without limitation, the rent, issues and profits therefrom), and Tenant will not collect or attempt to collect any such judgment out of any other assets of Successor Landlord.

Appears in 3 contracts

Samples: Disturbance and Attornment Agreement (Toys R Us Property Co II, LLC), Master Lease Agreement (Toys R Us Property Co II, LLC), Master Lease Agreement (Toys R Us Property Co I, LLC)

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Limitation of Successor Landlord Liability. Anything Notwithstanding anything herein to the contrary notwithstandingcontrary, in the event a Successor Landlord shall acquire title to the Leased Property Demised Premises (which, for purposes of this Section 15.314.5, shall include Landlord at any time after Landlord’s Lender Landlord Mortgagee (or its nominee or designee) shall have acquired direct or indirect control of the voting interests in any Landlord), Successor Landlord shall have no obligation, nor incur any liability, beyond Successor Landlord’s then then-interest, if any, in the Leased PropertyDemised Premises, and Tenant shall look exclusively to such interest, if any, of Successor Landlord in the Leased Property Demised Premises for the payment and discharge of any obligations imposed upon Successor Landlord under this Lease. Tenant agrees that, with respect to any money monetary judgment which may be obtained or secured by Tenant against Successor Landlord, Tenant shall look solely to the estate or interest owned by Successor Landlord in the Leased Property Demised Premises (including, without limitation, the rent, issues and profits therefrom), and Tenant will not collect or attempt to collect any such judgment against any Successor Landlord personally or any shareholder, member, partner, director or officer thereof, out of any other assets of Successor LandlordLandlord or any shareholder, member, partner, director or officer thereof.

Appears in 3 contracts

Samples: Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties), Master Lease (Seritage Growth Properties)

Limitation of Successor Landlord Liability. Anything Notwithstanding anything herein to the contrary notwithstandingcontrary, in the event a Successor Landlord shall acquire title to the Leased Property (which, for purposes of this Section 15.3Section, shall include Landlord at any time after Landlord’s Lender Landlord Mortgagee (or its nominee or designee) shall have acquired direct or indirect control of the voting interests in any Landlord), Successor Landlord shall have no obligation, nor incur any liability, beyond Successor Landlord’s then interestthen‑interest, if any, in the Leased Property, and Tenant shall look exclusively to such interest, if any, of Successor Landlord in the Leased Property for the payment and discharge of any obligations imposed upon Successor Landlord under this Master Lease. Tenant Xxxxxx agrees that, with respect to any money monetary judgment which may be obtained or secured by Tenant against Successor Landlord, Tenant shall look solely to the estate or interest owned by Successor Landlord in the Leased Property (including, without limitation, including the rent, issues and profits therefrom), and Tenant will not collect or attempt to collect any such judgment against any Successor Landlord personally or any shareholder, member, partner, director or officer thereof, out of any other assets of Successor LandlordLandlord or any shareholder, member, partner, director or officer thereof.

Appears in 1 contract

Samples: Master Lease (First Seacoast Bancorp, Inc.)

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Limitation of Successor Landlord Liability. Anything Notwithstanding anything herein to the contrary notwithstandingcontrary, in the event a Successor Landlord shall acquire title to the Leased Property Demised Premises (which, for purposes of this Section 15.314.5, shall include Landlord at any time after Landlord’s Lender Landlord Mortgagee (or its nominee or designee) shall have acquired direct or indirect control of the voting interests in any Landlord), Successor Landlord shall have no obligation, nor incur any liability, beyond Successor Landlord’s then interestthen‑interest, if any, in the Leased PropertyDemised Premises, and Tenant shall look exclusively to such interest, if any, of Successor Landlord in the Leased Property Demised Premises for the payment and discharge of any obligations imposed upon Successor Landlord under this Lease. Tenant agrees that, with respect to any money monetary judgment which may be obtained or secured by Tenant against Successor Landlord, Tenant shall look solely to the estate or interest owned by Successor Landlord in the Leased Property Demised Premises (including, without limitation, the rent, issues and profits therefrom), and Tenant will not collect or attempt to collect any such judgment against any Successor Landlord personally or any shareholder, member, partner, director or officer thereof, out of any other assets of Successor LandlordLandlord or any shareholder, member, partner, director or officer thereof.

Appears in 1 contract

Samples: Master Lease (Seritage Growth Properties)

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