Common use of Transfer of Premises Clause in Contracts

Transfer of Premises. In the event of any transfer of Landlord’s interest in the Premises, other than a transfer for security purposes only, provided that the assignee landlord agrees in writing, in form and substance acceptable to Tenant, to assume all obligations of Landlord to Tenant arising out of this Lease, Landlord shall be automatically relieved of any and all obligations and liabilities on the part of Landlord arising out of this Lease which accrue from and after the date of such transfer and Tenant agrees to attorn to the transferee.