Common use of NOVATION IN THE EVENT OF SALE Clause in Contracts

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Premises, Landlord shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this Article, Landlord, in the event of a sale of the Premises, shall cause to be included in the agreement of sale and purchase a covenant whereby the purchaser of the Premises assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty (30) days prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through which the Base Rent and Additional Rent items have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and any such other party to whom the certificate is addressed shall have the right to rely on such certificate.

Appears in 1 contract

Samples: Lease (Mathstar Inc)

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NOVATION IN THE EVENT OF SALE. In the event of the sale of the PremisesBuilding, Landlord shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this ArticleSection 30.0, Landlord, in the event of a sale of the PremisesBuilding, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Premises Building assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty ten (3010) days business days’ prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee or any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Commercial Lease (EnteroMedics Inc)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Demised Premises, Landlord shall be and hereby is relieved of all of the covenants and obligations created hereby (but such covenants and obligations shall survive as obligations of the purchaser) and accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this Articleparagraph, Landlord, Landlord in the event of a sale of the Premises, Demised Premises shall cause to be included in the agreement of sale and purchase a covenant whereby the purchaser of the Demised Premises assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty ten (3010) days days' prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect (or is in full force and effect as modified and modified, stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent ) and the dates through to which the Base Rent Rent, Additional Rent, and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee of any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Office/Warehouse Lease (Possis Medical Inc)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the PremisesBuilding, Landlord shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this ArticleSection 30.0, Landlord, in the event of a sale of the PremisesBuilding, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Premises Building assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty ten (3010) days prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent base rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee or any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Commercial Lease (BioDrain Medical, Inc.)

NOVATION IN THE EVENT OF SALE. 21.01 In the event of the sale of the Premisesdemised premises, Landlord Lessor shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord Lessor herein. Notwithstanding the foregoing provisions of this ArticleSection, LandlordLessor, in the event of a sale of the PremisesDemised premises, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Premises demised premises assumes and agrees to carry out all of the covenants and obligations of Landlord Lessor herein. . 21.02 The Tenant Lessee agrees at to any time and from time to time upon not less than thirty five (305) days prior written request by the Landlord Lessor to execute, acknowledge and deliver to the Landlord Lessor a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and if modified, stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent modifications and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee of any mortgage upon the right to rely on such certificatefee of the demised premises.

Appears in 1 contract

Samples: Lease Agreement (Fountain Pharmaceuticals Inc)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Demised Premises, Landlord Lessor shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord Lessor herein. Notwithstanding the foregoing provisions of this Article, LandlordLessor, in the event of a sale of the Demised Premises, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Demised Premises assumes and agrees to carry out all of the covenants and obligations of Landlord Lessor herein. The Tenant Lessee agrees at any time and from time to time upon not less than thirty ten (3010) days prior written request by the Landlord Lessor to execute, acknowledge and deliver to the Landlord Lessor a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is notany modifications hereto, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee of any mortgage upon the right to rely on such certificate.fee of the Demised Premises. 151

Appears in 1 contract

Samples: Office/Warehouse Lease (Childrens Broadcasting Corp)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Demised Premises, Landlord shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in so long as the purchaser assuming shall assume and agreeing agree to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this ArticleSection 30.0, Landlord, in the event of a sale of the Demised Premises, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Demised Premises assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time (but not more often than twice per year) upon not less than thirty ten (3010) days prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee or any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Commercial Lease (Thoratec Corp)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Premises, Landlord shall will be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall will result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this ArticleArticle 29.0, Landlord, in the event of a sale of the Premises, shall will cause to be included in the agreement of sale and purchase a covenant whereby the purchaser of the Premises assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty fifteen (3015) business days prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or is in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this Article may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee of any mortgage upon the right to rely on such certificatefee of the Premises.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

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NOVATION IN THE EVENT OF SALE. In the event of the sale of the Demised Premises, Landlord shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this ArticleSection 30.0, Landlord, in the event of a sale of the Demised Premises, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Demised Premises assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty ten (3010) days prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee or any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Commercial Lease (Restore Medical, Inc.)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Premises, Landlord shall will be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall will result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord herein. Notwithstanding the foregoing provisions of this ArticleArticle 29.0, Landlord, in the event of a sale of the Premises, shall will cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Premises assumes and agrees to carry out all of the covenants and obligations of Landlord herein. The Tenant agrees at any time and from time to time upon not less than thirty ten (3010) days prior written request by the Landlord to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee or any mortgage upon the right to rely on such certificatefee of the Premises.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

NOVATION IN THE EVENT OF SALE. 21.01 In the event of the sale of the Demised Premises, Landlord Lessor shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord Lessor herein. Notwithstanding the foregoing provisions of this ArticleSection, LandlordLessor, in the event of a sale of the Demised Premises, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Demised Premises assumes and agrees to carry out all of the covenants and obligations of Landlord Lessor herein. . 21.02 The Tenant Lessee agrees at to any time and from time to time upon not less than thirty five (305) days prior written request by the Landlord Lessor to execute, acknowledge and deliver to the Landlord Lessor a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and if modified, stating the modifications; that Landlord is not, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent modifications and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee of any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Lease Agreement (Techforce Corp)

NOVATION IN THE EVENT OF SALE. In the event of the sale of the Demised Premises, Landlord Lessor shall be and hereby is relieved of all of the covenants and obligations created hereby accruing from and after the date of sale, and such sale shall result automatically in the purchaser assuming and agreeing to carry out all the covenants and obligations of Landlord Lessor herein. Notwithstanding the foregoing provisions of this Article, LandlordLessor, in the event of a sale of the Demised Premises, shall cause to be included in the this agreement of sale and purchase a covenant whereby the purchaser of the Demised Premises assumes and agrees to carry out all of the covenants and obligations of Landlord Lessor herein. The Tenant Lessee agrees at any time and from time to time upon not less than thirty ten (3010) days prior written request by the Landlord Lessor to execute, acknowledge and deliver to the Landlord Lessor a statement in writing certifying that this Lease is unmodified and in full force and effect or in full force and effect as modified and stating the modifications; that Landlord is notany modifications hereto, to Tenant’s knowledge, in default hereunder or specifically stating any alleged defaults; the amount of the Base Rent and the dates through to which the Base Rent basic rent and Additional Rent items other charges have been paid; and certifying to such other matters as Landlord may reasonably request. Landlord and paid in advance, if any, it being intended that any such other party statement delivered pursuant to whom this paragraph may be relied upon by any prospective purchaser of the certificate is addressed shall have fee or mortgagee or assignee of any mortgage upon the right to rely on such certificatefee of the Demised Premises.

Appears in 1 contract

Samples: Office/Warehouse Lease (Childrens Broadcasting Corp)

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