Common use of TRANSFER OF LESSOR'S INTEREST Clause in Contracts

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of Lessor's interest in the Premises other than a transfer for security purposes only, Lessor shall, upon giving notice of such transfer to Lessee, be relieved from and after the date specified in such notice of transfer of all obligations and liabilities accruing thereafter on the part of Lessor, provided that any funds in the hands of Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessor's obligations hereunder are assumed in writing by the transferee.

Appears in 2 contracts

Samples: Ponderosa Pines (Maxwell Laboratories Inc /De/), Lease Agreement (Maxwell Laboratories Inc /De/)

AutoNDA by SimpleDocs

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of Lessor's interest in the Premises building of which the leased premises form a part other than a transfer for security purposes only, Lessor shallshall be relieved, upon giving notice of such transfer to Lessee, be relieved from and after the date specified in such notice of transfer transfer, of all obligations and liabilities accruing thereafter on the part of Lessor, provided that any funds in the hands of Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessor's obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Lease Agreement (Persistence Software Inc)

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of Lessor's interest in the Premises Building of which the leased promises form a part other than a transfer for security purposes only, Lessor shallshall be relieved, upon giving notice of such transfer to Lessee, be relieved from and after the date specified in such notice of transfer transfer, of all obligations and liabilities accruing thereafter on the part of Lessor, provided that any funds in the hands of Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessor's obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Lease Agreement (Tangible Asset Gallaries Inc)

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or of conveyance by Lessor of Lessor's interest in the Premises other than a transfer for security purposes only, Lessor shall, upon giving notice of such transfer to Lessee, shall be relieved from and after the date specified in such notice of transfer of all obligations and liabilities accruing thereafter on the part of the Lessor, provided that any funds in the hands of Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessorlessor's obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Lease Agreement (Western Goldfields Inc)

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of LessorLessee's interest in the Premises or the Building other than a transfer for security purposes only, Lessor shall, upon giving notice of such transfer to Lessee, shall be relieved from and after the date specified in any such notice of transfer of all obligations and liabilities accruing thereafter on the part of Lessor, provided that any funds in the hands of the Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessor's obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Office Lease (Redding Bancorp)

AutoNDA by SimpleDocs

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of Lessor's ’s interest in the Premises Demised Premises, other than a transfer for security purposes only, Lessor shallshall be relieved, upon giving notice of such transfer to Lessee, be relieved from and after the date specified in such notice of transfer transfer, of all obligations and liabilities accruing thereafter on the part of the Lessor, provided that any funds in the hands transferee assumes all obligations of Lessor at under this Lease that accrue from and after the time date of transfer in which Lessee has an interestsuch sale, shall be delivered to the successor of Lessorconveyance or transfer. This Lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessor's ’s obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Purchase and Sale Agreement (P&f Industries Inc)

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of Lessor's interest in the Premises or the Building other than a transfer for security purposes only, Lessor shall, upon giving notice of such transfer to Lessee, shall be relieved from and after the date specified in any such notice of transfer of all obligations and liabilities accruing thereafter on the part of Lessor, provided that any funds in the hands of Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee provided all Lessor's obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Office Lease (California Independent Bancorp)

TRANSFER OF LESSOR'S INTEREST. 22.1 In the event of a sale or conveyance by Lessor of Lessor's interest in the Premises other than a transfer for security purposes only, Lessor shall, upon giving notice of such transfer to Lessee, shall be relieved from and after the date specified in such notice of transfer of all obligations and liabilities accruing thereafter on the part part, of the Lessor, provided that any funds in the hands bands of Lessor at the time of transfer in which Lessee has an interest, shall be delivered to the successor of Lessor. This Lease shall not be affected by any such sale and Lessee agrees to attorn to the purchaser or assignee assignees provided all Lessor's obligations hereunder are assumed in writing by the transferee.

Appears in 1 contract

Samples: Commercial Lease (DRS Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.