Sold Property Clause Samples
The "Sold Property" clause defines what is included in the sale of a property and clarifies which items or fixtures are considered part of the transaction. Typically, this clause specifies whether appliances, light fixtures, or other attached items are included or excluded from the sale, and may address any ambiguities about what the buyer will receive. Its core function is to ensure both parties have a clear, mutual understanding of what is being transferred, thereby preventing disputes over ownership of specific items after the sale is completed.
Sold Property. The Leased Property shall exclude the Sold Property, but notwithstanding the foregoing, Tenant shall retain all of its obligations with respect to the Sold Property which are attributable to events occurring on or prior to the date hereof or which are addressed pursuant to Section 9.5 of the Lease (as if the Sold Property remained a Property for the remainder of the Term). In furtherance of the foregoing, however, Tenant shall have no obligation to comply with Section 5.3 of the Lease solely with respect to the Sold Property.