Sale of Premises by Landlord. In the event of any sale of the Building, Landlord shall be and is hereby entirely freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from 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 Premises 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 the Landlord under this Lease.
Sale of Premises by Landlord. In the event of any sale of the Premises by the Landlord and the assignment of this Lease to the Purchaser, upon execution and delivery to Tenant of a written agreement to assume and carry out the duties and obligations of the Landlord under this Lease, the Landlord shall be entirely freed and relieved of all liability under any and all of its covenants and obligations hereunder arising out of any act or omission occurring after the consummation of such sale.
Sale of Premises by Landlord. In the event of any sale of the Building, after delivery to the purchaser of Tenant's security deposit and any other funds of Tenant held by Landlord on account of Tenant's obligations hereunder, Landlord shall be and is hereby entirely freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from 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 Premises 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 the Landlord under this Lease.
Sale of Premises by Landlord. In the event of any sale of the Building or the property upon which the Building is located or any assignment of this Lease by Landlord (or a successor in title), if the assignee or purchaser assumes the obligations of Landlord herein in writing, Landlord (or such successor) shall automatically be entirely freed and relieved of all liability under any and all of Landlord’s covenants and obligations contained in this Lease or arising out of any act, occurrence, or omission occurring after such sale or assignment, and the assignee or purchaser shall be deemed, without any further agreement between the parties, to have assumed and agreed to carry out any and all of the covenants and obligations of Landlord under this Lease, and shall be substituted as Landlord for all purposes from and after the sale or assignment.
Sale of Premises by Landlord. In the event of any sale or other transfer of title to the Building, Landlord shall be and is hereby entirely freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from this Lease arising out of any act, occurrence, or omission occurring after the consummation of such sale or transfer.
Sale of Premises by Landlord. In the event of any sale of the Building or the property upon which the Building is located or any assignment of this Lease by Landlord (or a successor in title), the assignee or purchaser shall be deemed, without any further agreement between the parties, to have assumed and agreed to carry out any and all of the covenants and obligations of Landlord under this Lease, and shall be substituted as Landlord for all purposes from and after the sale or assignment: and Landlord (or such successor) shall automatically be entirely freed and relieved of all liability under any and all of Landlord’s covenants and obligations contained in this Lease or arising out of any act, occurrence, or omission occurring after such sale or assignment.
Sale of Premises by Landlord. If Landlord sells the Premises, it shall be relieved of all liability under any and all of its covenants and obligations contained in this Lease and arising out of any act, occurrence or omission occurring after the consummation of such sale; provided, however, that the purchaser of the Premises shall be deemed without further agreement between the parties, or between the parties and any such purchaser, to have assumed and agreed to carry out all of the covenants and obligations of the Landlord arising after the closing under this Lease.
Sale of Premises by Landlord. Landlord may at any time assign or transfer its interest as Landlord in and to this Lease, or any part thereof, and may at any time sell or transfer its interest in the fee to the Premises, or its interest in and to the whole or any portion of the Premises. In the event of any sale or exchange of the Premises by Landlord and the assignment by Landlord of this Lease and execution by the new owner of an acceptance and assumption agreement agreeing to accept the assignment and assume all of Landlord's obligations hereunder, Landlord shall be and is hereby entirely released of all liability under any and all of its covenants and obligations contained in or derived from this Lease occurring after the consummation of such sale or exchange and assignment.
Sale of Premises by Landlord. In the event Landlord ever determines that it desires to sell the Premises, Landlord agrees not to market or sell the Premises without first complying with the provisions of this Section 40.
40.1 Prior to making any agreement to sell the Premises, Landlord shall select one (1) qualified appraiser to determine the fair market value of the Premises as of a date selected by Landlord (hereinafter designated "Determination Date"); such appraiser must meet the following qualifications: (i) such appraiser shall be a MAI Appraiser; and (ii) such appraiser shall not otherwise be disqualified from exercising independent judgment as to the fair market value determination to be made. Such appraiser shall be required to prepare a written report (hereinafter designated "First Appraisal") as to the Premises' fair market value (hereinafter designated "Appraised Value") as of the Determination Date and the First Appraisal shall satisfy the professional standards applicable to an MAI Appraiser for appraisal reports. The First Appraisal must be completed and issued within thirty (30) days of the Determination Date. For purposes hereof, "MAI Appraiser" shall mean an appraiser licensed or otherwise qualified to do business in the State of Texas and who has substantial experience in performing appraisals of facilities similar to the Premises and is certified as a member of the American Institute of Real Estate Appraisers or certified as a SRPA by the Society of Real Estate Appraisers, or, if such organizations no longer exist or certify appraisers, such successor organization or such other organization as is approved by Landlord.
Sale of Premises by Landlord. 5 ARTICLE 26. SUBORDINATION/ATTORNMENT/MODIFICATION/ASSIGNMENT............... 5 ARTICLE 27.
