Sale of Building. The term "Landlord" will mean only the owner at the time in question of the fee title or a tenant's interest in a ground lease of the Premises. The obligations contained in this Lease to be performed by Landlord will be binding on Landlord and Landlord's successors and assigns only during their respective periods of ownership. In the event of a sale of the Building or assignment of this Lease by Landlord, Landlord will have the right to transfer the Security Deposit to Landlord's vendee or assignee, subject to Tenant's rights therein, and Landlord will thereafter be released from any liability to Tenant with respect to the return of the Security Deposit to Tenant.
Sale of Building. In the event of a sale or other transfer of the Building (or Landlord’s interest therein), Landlord shall have the obligation to transfer the balance of the Security Deposit to the new owner or to transferee and shall notify Tenant of such transfer and the transferee’s address. Upon any such transfer and written confirmation of the successor landlord that it has assumed all of Landlord’s obligations under this Lease from and after such transfer, Landlord shall thereupon be released by Tenant from all liability for the return of the Security Deposit; and Tenant agrees to look to the new landlord for the return of such Security Deposit. If there is no default then continuing of which Tenant has notice (where such notice is required) at the end of the Term, Landlord will, within sixty (60) days after the expiration or earlier termination of the Lease, return the Security Deposit, or so much as has not been applied by Landlord, to Tenant or the last permitted assignee of Tenant’s interest hereunder at the expiration of the Term.
Sale of Building. In the event of any sale or sales of the Building (and the property on which same is situated) or of any lease thereof, the Landlord named herein above 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, or the lessee, as the case may be, has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder during the period such party has possession of the Building. Should the entire Building and the property on which same is situated be severed as to ownership by sale and/or lease, then the owner of the entire Building or the lessee of the entire Building that has the right to lease space in the Building to tenants shall be deemed the "Landlord". Tenant shall be bound to any succeeding Landlord for all the terms, covenants and conditions hereof and shall execute any attornment agreement not in conflict herewith at the request of any succeeding Landlord. The provisions of this Section 8.16 shall apply to each and every sale, lease or other transfer of the Building or the property on which same is situated, or both, during the Lease Term.
Sale of Building. In the event of a sale of the Building or an assignment of this Lease by Xxxxxx, Lessor shall be released from any liability thereafter occurring under this Lease provided the assignee and/or transferee assumed in writing all of Lessor’s obligations under this Lease.
Sale of Building. In the event of a sale or other transfer of the Building (or Landlord's interest therein), Landlord shall have the right to transfer the Security Deposit to the new owner or to transferee. Upon any such transfer and the assumption by such successor of all of Landlord's obligations under this Lease from and after the date of such transfer (notice of such transfer to be promptly provided by Landlord or such successor), Landlord shall thereupon be released by Tenant from all liability for the return of the Security Deposit; and Tenant agrees to look to the new landlord for the return of such Security Deposit. If an Event of Default is not then continuing, Landlord will, within sixty (60) days after the expiration or earlier termination of the Lease, return the Security Deposit, or so much as has not been applied by Landlord, to Tenant or the last permitted assignee of Tenant's interest hereunder at the expiration of the Term. EAST\126610515.10
Sale of Building. In the event of a sale or other transfer of the Building (or Landlord's interest therein), Landlord shall have the right to transfer the balance of the Security Deposit to the new owner or to transferee. Upon any such transfer and receipt from the successor landlord that it has received the Security Deposit and assumes all of Landlord's obligations under this Lease, Landlord shall thereupon be released by Tenant from all liability for the return of the Security Deposit; and Xxxxxx agrees to look to the new landlord for the return of such Security Deposit. If Xxxxxx is not in default hereunder at the end of the Term, Landlord will, within sixty (60) days after the expiration or earlier termination of the Lease, return the Security Deposit, or so much as has not been applied by Xxxxxxxx, to Tenant or the last permitted assignee of Tenant's interest hereunder at the expiration of the Term. 4.6. 7
Sale of Building. If Landlord sells or transfers its interest in the Building, Landlord shall deliver or credit any security deposit to Landlord's successor in interest and thereupon be relieved of further responsibility with respect to the Security Deposit. In the event of any sale or transfer of the Building, Landlord shall be and is hereby entirely released and relieved of all liability under this Lease arising out of any act, occurrence or omission occurring after the consummation of such sale, and the purchaser at such sale or any subsequent sale of the Building shall be deemed, without any further agreement between the parties or their successors in interest or between the parties and any such purchaser, to have assumed and agreed to carry out any and all of the covenants and obligations of Landlord under this Lease. Tenant shall, upon request of any person or party succeeding to the interest of Landlord, attorn to such successor in interest and recognize such successor in interest as Landlord under this Lease.
Sale of Building. If Lessor sells or transfers its interest in the Premises, upon the consummation of the sale or transfer, Lessor shall be released from any liability thereafter accruing under this Lease if Lessor’s successor has assumed in writing, for the benefit of Lessee, Lessor’s obligations under this Lease. Lessor shall transfer the Security Deposit to Lessor’s successor and on such transfer Lessor shall be discharged from any further liability in reference to the Security Deposit. If Lessee purchases the Building, this Lease shall terminate on the date title vests in Lessee, and Lessor shall remit to Lessee the Security Deposit and all prepaid and unearned rent.
Sale of Building. In the event of a sale or other transfer of the Building (or Landlord’s interest therein), Landlord shall transfer the balance of the Security Deposit or credit the same to the new owner or transferee. Upon any such transfer and the written agreement by the successor landlord that it has received the Security Deposit and that it has assumed all of Landlord’s obligations under this Lease, Landlord shall thereupon be released by Tenant from all liability for the return of the Security Deposit; and, thereafter, Tenant shall look to the new landlord for the return of such Security Deposit. If no notice of an Event of Default is outstanding for which a cure has not been completed at the end of the Term, Landlord shall, within sixty (60) days after the expiration or earlier termination of the Lease, return the Security Deposit, or so much as has not been applied by Landlord as provided herein, to Tenant.
Sale of Building. In the event the Lessor sells the building, Lessor will be given a sixty day (60) written notice to vacate the premises if the new buyers do not want to continue this lease. This lease will terminate at that time with no further obligations or rights to either party. and Singularly and Jointly ---------------------------- ---------------------- Personally Guarantee this entire lease agreement. They are signing this lease as corporate officer and personally guarantee the entire Lease agreement 100% each for any and all items. witness Date /s/ Margaret M Semenuk LESSOR ---------------------------- ------------------------------------- Margaret M. Semenuk President Xxxxxxe America Inc. witness Date /s/ illegible LESSEE ---------------------------- ------------------------------------- President witness Date /s/ illegible Personally ---------------------------- ------------------------------------- witness Date /s/ illegible LESSEE ---------------------------- ------------------------------------ INTELLIGENT MOTOR CARS INC. & and they --------------------- ----------------------- On Personally appeared and he did -------- ---------------------------- ---------- did not take an oath and say that they signed this instrument. ------- Known to Me produced drivers license ------------------------ ----------------- My commission expires: Notary Public State of Florida
