Common use of SUCCESSION IN INTEREST Clause in Contracts

SUCCESSION IN INTEREST. For purposes of this Agreement, Xxxxxx will be deemed to have succeeded to the interest of Landlord under the Lease upon: (i) the transfer of title to the Premises to Lender, whether by virtue of foreclosure, sale or transfer in lieu of foreclosure, or pursuant to the exercise of any rights and remedies under the Mortgage or otherwise, or (ii) the occurrence of any other event as a result of which Xxxxxx may acquire the right, title and interest of Landlord in and to the Lease or the Premises.

SUCCESSION IN INTEREST. For purposes of this Agreement, Xxxxxx Lender will be deemed to have succeeded to the interest of Landlord under the Lease upon: upon (i) the transfer of title to the Premises to Lender, whether by virtue of foreclosure, sale or transfer in lieu of foreclosure, or pursuant to the exercise of any rights and remedies under the Mortgage or otherwise, or (ii) the occurrence of any other event as a result of which Xxxxxx Lender may acquire the right, title and interest of Landlord in and to the Lease or the Premises.

SUCCESSION IN INTEREST. For purposes of this Agreement, Xxxxxx Lender will be deemed to have succeeded to the interest of Landlord under the Lease upon: (i) the transfer of title to the Premises to Lender, whether by virtue of foreclosure, sale or transfer in lieu of foreclosure, or pursuant to the exercise of any rights and remedies under the Mortgage or otherwise, or (ii) the occurrence of any other event as a result of which Xxxxxx Lender may acquire the right, title and interest of Landlord in and to the Lease or the Premises.