Common use of SALE OR TRANSFER BY LANDLORD; LEASE NONRECOURSE TO LANDLORD Clause in Contracts

SALE OR TRANSFER BY LANDLORD; LEASE NONRECOURSE TO LANDLORD. 14.1 Sale or Transfer by Landlord. Landlord may at any time transfer, in whole or in part, its right, title and interest under this Lease and/or in the Project, or any portion thereof. If the original Landlord hereunder, or any successor to such original Landlord, transfers (by sale, assignment or otherwise) its right, title or interest in the Building, all liabilities and obligations of the original Landlord or such successor under this Lease shall terminate as of the date of such transfer, the original Landlord or such successor shall automatically be released therefrom as of the date of such transfer, and thereupon all such liabilities and obligations from and after the date of such transfer shall be binding upon the new owner, but only to the extent the new owner agrees in writing to assume all such liabilities and obligations. If the new owner does not so agree, then Landlord or such successor shall remain obligated to perform all obligations of Landlord outstanding on the date of such transfer, including, without limitation the obligation to return the Letter of Credit or any cash then being held as a result of draws made on the Letter of Credit. Tenant shall attorn to each such new owner. If in connection with any transfer effected by the then Landlord hereunder, such Landlord transfers any Security Deposit or other security provided by Tenant to Landlord for the performance of any obligation of Tenant under this Lease, then such Landlord shall be released from any further responsibility or liability for such Security Deposit or other security.

SALE OR TRANSFER BY LANDLORD; LEASE NONRECOURSE TO LANDLORD. 14.1 Sale or Transfer by Landlord. Landlord may at any time transfer, in whole or in part, its right, title and interest under this Lease and/or in the Project, or any portion thereof. If the original Landlord hereunder, or any successor to such original Landlord, transfers (by sale, assignment or otherwise) its right, title or interest in the Building, all liabilities and obligations of the original Landlord or such successor under this Lease arising from and after such transfer shall terminate as of the date of such transfer, the original Landlord or such successor shall automatically be released therefrom as of the date of such transfer, and thereupon all such liabilities and obligations from and after the date of such transfer shall be binding upon the new owner, but only to the extent the new owner agrees in writing to assume all such liabilities and obligations. If the new owner does not so agree, then Landlord or such successor shall remain obligated to perform all obligations of Landlord outstanding on the date of such transfer, including, without limitation the obligation to return the Letter of Credit or any cash then being held as a result of draws made on the Letter of Credit. Tenant shall attorn to each such new owner. If in connection with any transfer effected by the then Landlord hereunder, such Landlord transfers any Security Deposit or other security provided by Tenant to Landlord for the performance of any obligation of Tenant under this LeaseLease and such transferee assumes this Lease in writing, then such Landlord shall be released from any further responsibility or liability for such Security Deposit or other security.