Common use of Transfer of Real Property Clause in Contracts

Transfer of Real Property. Landlord’s obligations under this Lease shall not be binding upon the Landlord named herein after the sale, conveyance, assignment, transfer or lease of Landlord’s interest (collectively, a “Transfer”) by Landlord (or upon any subsequent landlord after the Transfer by such subsequent landlord) of its interest in the Buildings or the Real Property, as the case may be (except for such obligations as accrued prior to such Transfer unless such subsequent landlord assumes in writing such obligations which accrued prior to such transfer), and in the event of any such Transfer, Landlord (and any such subsequent landlord) shall be entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing from and after such Transfer (unless such subsequent landlord shall have expressly agreed to assume Landlord’s obligations which accrued prior to the date of such Transfer in which event Landlord shall also be released from those existing obligations), and the transferee of Landlord’s interest (or that of such subsequent landlord) in the Buildings or the Real Property, as the case may be, shall be deemed to have assumed all obligations under this Lease accruing from and after such Transfer.

Transfer of Real Property. Provided that the transferee assumes in writing the obligations of Landlord hereunder arising from and after the date of the Landlord Transfer (as defined hereinbelow), Landlord’s obligations under this Lease shall not be binding upon the Landlord named herein after the sale, conveyance, assignment, assignment or transfer or lease of Landlord’s interest (collectively, a “Landlord Transfer”) by such Landlord (or upon any subsequent landlord after the Landlord Transfer by such subsequent landlord) of its interest in the Buildings Building or the Real Property, as the case may be (except for such obligations as accrued prior to such Transfer unless such subsequent landlord assumes in writing such obligations which accrued prior to such transfer)be, and in the event of any such Landlord Transfer, Landlord (and any such subsequent landlordLandlord) shall be entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing arising from and after such Transfer (unless such subsequent landlord shall have expressly agreed to assume Landlord’s obligations which accrued prior to the date of such Transfer in which event the Landlord shall also be released from those existing obligations)Transfer, and the transferee of Landlord’s interest (or that of such subsequent landlordLandlord) in the Buildings Building or the Real Property, as the case may be, shall be deemed to have assumed all obligations under this Lease accruing arising from and after such the date of the Landlord Transfer.

Transfer of Real Property. Landlord’s 's obligations under this Lease shall not be binding upon the Landlord named herein after the sale, conveyance, assignment, assignment or transfer or lease of Landlord’s 's interest (collectively, collectively a “"Transfer”") by Landlord (or upon any subsequent landlord after the Transfer by such subsequent landlord) of its interest in the Buildings Building or the Real Property, as the case may be (except for such obligations as accrued prior to such Transfer unless such subsequent landlord assumes in writing such obligations which accrued prior to such transfer)be, and in the event of any such Transfer, Landlord (and any such subsequent landlord) shall be entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing from and after such Transfer (unless such subsequent landlord shall have expressly agreed to assume Landlord’s obligations which accrued prior to the date of such Transfer in which event Landlord shall also be released from those existing obligations)hereunder, and the transferee of Landlord’s 's interest (or that of such subsequent landlord) in the Buildings Building or the Real Property, as the case may be, shall shall, except as otherwise provided below, be deemed to have assumed all obligations under this Lease. Notwithstanding the foregoing, such transferee may elect not to, or fail to, assume Landlord's obligations under this Lease accruing arising prior to the transfer, in which event the transferring Landlord shall remain liable for covenants, and obligations of Landlord hereunder arising prior to such sale, conveyance, assignment or transfer while such transferring Landlord owned the Building or the Real Property, as the case may be, but only to the extent of the net undistributed proceeds from and after such Transfersale, conveyance, assignment or transfer.

Transfer of Real Property. Landlord’s 's obligations under this Lease shall not be binding upon the Landlord named herein after the sale, conveyance, assignment, assignment or transfer or lease of Landlord’s interest (collectively, collectively a “"Transfer”") by such Landlord (or upon any subsequent landlord after the Transfer by such subsequent landlord) of its interest in the Buildings Building or the Real Property, as the case may be (except for such obligations as accrued prior to such Transfer unless such subsequent landlord assumes in writing such obligations which accrued prior to such transfer)be, and in the event of any such Transfer, Landlord (and any such subsequent landlord) shall be entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing from and after such Transfer (unless such subsequent landlord shall have expressly agreed to assume Landlord’s obligations which accrued prior to the date of such Transfer in which event Landlord shall also be released from those existing obligations)hereunder, and the transferee of Landlord’s 's interest (or that of such subsequent landlord) in the Buildings Building or the Real Property, as the case may be, shall be deemed to have assumed all obligations under this Lease accruing thereafter arising; provided that, if the transferee of Landlord's interest in the Building or the Real Property, as the case may be, shall assume all obligations under this Lease ab initio, the transferring Landlord shall be and hereby is entirely freed and relieved of all covenants and obligations of Landlord hereunder whenever arising. Absent such an assumption ab initio, the transferring Landlord shall remain liable for covenants, and obligations of Landlord arising prior to such sale, conveyance, assignment or transfer while such transferring Landlord owned the Building or the Real Property, as the case may be, but only to the extent of the net proceeds received by the Landlord from and after such Transfersale, conveyance, assignment or transfer.

Transfer of Real Property. Provided that the transferee assumes in writing the obligations of Landlord hereunder arising from and after the date of the Landlord Transfer (as defined hereinbelow), Landlord’s obligations accruing thereafter under this Lease shall not be binding upon the Landlord named herein after the sale, conveyance, assignment, assignment or transfer or lease of Landlord’s interest (collectively, a “Landlord Transfer”) by such Landlord (or upon any subsequent landlord after the Landlord Transfer by such subsequent landlord) of its interest in the Buildings Building or the Real Property, as the case may be (except for such obligations as accrued prior to such Transfer unless such subsequent landlord assumes in writing such obligations which accrued prior to such transfer)be, and in the event of any such Landlord Transfer, Landlord (and any such subsequent landlordLandlord) shall be entirely freed and relieved of all covenants and obligations of Landlord hereunder accruing arising from and after such Transfer (unless such subsequent landlord shall have expressly agreed to assume Landlord’s obligations which accrued prior to the date of such Transfer in which event the Landlord shall also be released from those existing obligations)Transfer, and the transferee of Landlord’s interest (or that of such subsequent landlordLandlord) in the Buildings Building or the Real Property, as the case may be, shall be deemed to have assumed all obligations under this Lease accruing arising from and after the date of the Landlord Transfer. A Landlord Transfer shall not release the transferring Landlord from any obligations under this Lease which have accrued during such Landlord’s period of ownership as of the date of such Landlord Transfer.