Common use of SALE OF THE PREMISES Clause in Contracts

SALE OF THE PREMISES. In the event that the Premises is sold, transferred or otherwise conveyed, Landlord will give the Tenant notice of such conveyance and will transfer all of Landlord’s rights under this Lease to the new Landlord and/or Agent including prorated rents, last month’s rent, (if any) and security deposits as required by law, and upon such transfer Landlord and Landlord’s agent shall be released from all further obligation or liability in connection with this Lease Agreement. The new Landlord will receive an accounting of all moneys held or due and it shall be the new Landlord’s responsibility to convey such accounting to Tenants. Upon such sale, Tenant agrees to look solely to the successor Landlord for satisfaction of all claims relating to Landlord’s obligations hereunder, including for a return of any security deposit. Upon the transfer of title of the Premises to a subsequent owner, and subject to applicable Colorado law, Tenant agrees that Landlord and Landlord’s Agent shall be released from any further liability

SALE OF THE PREMISES. In the event that the Premises is sold, transferred or otherwise conveyed, Landlord will give the Tenant notice of such conveyance and will transfer all of Landlord’s rights under this Lease Agreement to the new Landlord and/or Agent including prorated rents, last month’s rent, (if any) and security deposits as required by law, and upon such transfer transfer, Landlord and Landlord’s agent shall be released from all further obligation or liability in connection with this Lease Agreement. The new Landlord will receive an accounting of all moneys monies held or due and it shall be the new Landlord’s responsibility to convey such accounting to TenantsTenant. Upon such sale, Tenant agrees to look solely to the successor Landlord for satisfaction of all claims relating to Landlord’s obligations hereunder, including for a return of any security deposit. Upon the transfer of title of the Premises to a subsequent owner, and subject to applicable Colorado law, Tenant agrees that Landlord and Landlord’s Agent shall be released from any further liability. Sample Lease Only

SALE OF THE PREMISES. In the event that the Premises is sold, transferred or otherwise conveyed, Landlord will give the Tenant notice of such conveyance and will transfer all of Landlord’s rights under this Lease to the new Landlord and/or Agent including prorated rents, last month’s rent, (if any) and security deposits as required by law, and upon such transfer Landlord and Landlord’s agent shall be released from all further obligation or liability in connection with this Lease Agreement. The new Landlord will receive an accounting of all moneys held or due and it shall be the new Landlord’s responsibility to convey such accounting to Tenants. Upon such sale, Tenant agrees to look solely to the successor Landlord for satisfaction of all claims relating to Landlord’s obligations hereunder, including for a return of any security deposit. Upon the transfer of title of the Premises to a subsequent owner, and subject to applicable Colorado law, Tenant agrees that Landlord and Landlord’s Agent shall be released from any further liability.