Common use of Limitation of Successor Landlord Liability Clause in Contracts

Limitation of Successor Landlord Liability. Notwithstanding anything herein to the contrary, in the event that any Successor Landlord shall acquire all or any portion of any Demised Premises or any Other Collateral, such Successor Landlord shall have no obligation, nor incur any liability, beyond Successor Landlord’s interest, if any, in the Demised Premises, and Tenant shall look exclusively to such interest, if any, of such Successor Landlord in the Demised Premises for the payment and discharge of any obligations imposed upon Successor Landlord under this Lease. Tenant hereby agrees that, with respect to any monetary judgment that may be obtained or secured by Tenant against any Successor Landlord, Tenant shall look solely to the estate or interest owned by Successor Landlord in the Demised Premises (if any), and Tenant shall not collect or attempt to collect any such judgment against any Successor Landlord personally or against any Affiliate, shareholder, member, partner, director or officer thereof personally or out of any other assets or properties of such Successor Landlord or such Affiliate, shareholder, member, partner, director or officer (as applicable). Nothing in this Section 14.4 shall be deemed to imply or create any duties, obligation or liabilities on the part of any Successor Landlord to or in favor of Tenant or with respect to any Demised Premises or any portion thereof or interest therein.

Appears in 4 contracts

Sources: Retail Master Lease (Copper Property CTL Pass Through Trust), Distribution Center Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co Inc)

Limitation of Successor Landlord Liability. Notwithstanding anything herein to the contrary, in the event that any a Successor Landlord shall acquire all or any portion of any title to the Demised Premises (which, for purposes of this Section 14.5, shall include Landlord at any time after Landlord Mortgagee (or its nominee or designee) shall have acquired direct or indirect control of the voting interests in any Other CollateralLandlord), such Successor Landlord shall have no obligation, nor incur any liability, beyond Successor Landlord’s then-interest, if any, in the Demised Premises, and Tenant shall look exclusively to such interest, if any, of such Successor Landlord in the Demised Premises for the payment and discharge of any obligations imposed upon Successor Landlord under this Lease. Tenant hereby agrees that, with respect to any monetary judgment that which may be obtained or secured by Tenant against any Successor Landlord, Tenant shall look solely to the estate or interest owned by Successor Landlord in the Demised Premises (if anyincluding, without limitation, the rent, issues and profits therefrom), and Tenant shall will not collect or attempt to collect any such judgment against any Successor Landlord personally or against any Affiliate, shareholder, member, partner, director or officer thereof personally or thereof, out of any other assets or properties of such Successor Landlord or such Affiliate, any shareholder, member, partner, director or officer (as applicable). Nothing in this Section 14.4 shall be deemed to imply or create any duties, obligation or liabilities on the part of any Successor Landlord to or in favor of Tenant or with respect to any Demised Premises or any portion thereof or interest thereinthereof.

Appears in 3 contracts

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