Common use of Transfer of Security Deposit Clause in Contracts

Transfer of Security Deposit. In the event of the sale or transfer of Landlord’s interest in the Premises, Landlord shall transfer the Security Deposit (or the remaining balance thereof) to such purchaser or transferee, whereupon Landlord shall be released from all liability to Tenant for the return of the Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security Deposit.

Appears in 3 contracts

Samples: Lease Agreement (Sun Energy Solar Inc), Lease Agreement (Sun Energy Solar Inc), Lease Agreement (Sun Energy Solar Inc)

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Transfer of Security Deposit. In the event of the sale or transfer of Landlord’s 's interest in the PremisesBuilding, Landlord shall transfer the Security Deposit (or to the remaining balance thereof) to such purchaser or transfereeassignee, whereupon in which event Tenant shall look only to the new landlord for the return of the Security Deposit (subject to the provisions of this Lease), and Landlord shall thereupon be released from all liability to Tenant for the return of the Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security Deposit.

Appears in 3 contracts

Samples: Office Lease Agreement (Pec Solutions Inc), Office Lease Agreement (Pec Solutions Inc), Office Lease Agreement (Pec Solutions Inc)

Transfer of Security Deposit. In Landlord may deliver the event of the sale or transfer funds deposited hereunder by Tenant to a purchaser of Landlord’s 's interest in the Premises, Landlord shall transfer in the Security Deposit (or the remaining balance thereof) to event that such purchaser or transferee, whereupon interest be sold; and thereupon Landlord shall be released discharged from all any further liability with respect to Tenant for the return of the such Security Deposit. Tenant shall look only to the party then , except as may otherwise be agreed upon in writing by Landlord for the return of the Security Depositand Tenant.

Appears in 1 contract

Samples: Letter Agreement (Inland Casino Corp)

Transfer of Security Deposit. In Landlord may deliver the event of the sale or transfer funds deposited hereunder by Tenant to a purchaser of Landlord’s 's interest in the Premises, Landlord shall transfer in the Security Deposit (or the remaining balance thereof) to event that such purchaser or transferee, whereupon interest be sold; and thereupon Landlord shall be released discharged from all any further liability with respect to Tenant for the return of the such Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security DepositDeposit and Additional Security.

Appears in 1 contract

Samples: Lease Agreement (Rubios Restaurants Inc)

Transfer of Security Deposit. In the event of the sale or transfer of Landlord’s 's interest in the PremisesBuilding, Landlord shall have the right to transfer the Security Deposit (or to the remaining balance thereof) to such purchaser or transfereeassignee, whereupon in which event Tenant shall look only to the new landlord for the return of the Security Deposit (subject to the provisions of this Lease), and Landlord shall thereupon be released from all liability to Tenant for the return of the Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security Deposit.

Appears in 1 contract

Samples: Office Lease Agreement (Digital Commerce Corp)

Transfer of Security Deposit. In the event of the If any sale or transfer occurs of Landlord’s 's interest in the PremisesBuilding, Landlord shall may transfer the Security Deposit (or the remaining balance thereof) to such purchaser or transferee, whereupon in which event Tenant will look solely to the new landlord for the return of the Security Deposit and Landlord shall will thereupon be released from all liability to Tenant for the return of the Security Deposit. The Security Deposit will not be transferable by Tenant shall look only to the party then Landlord for the return of the Security Depositany assignee or subtenant, but will be held and returned directly to Tenant.

Appears in 1 contract

Samples: Office Lease (Bioanalytical Systems Inc)

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Transfer of Security Deposit. In the event of the sale or transfer of Landlord’s 's interest in the PremisesPremises or the Office Complex, Landlord shall have the right to transfer the Security Deposit (or to the remaining balance thereof) to such purchaser or transfereeassignee, whereupon in which event Tenant shall look only to the purchaser or assignee, as the new Landlord, for the return of the Security Deposit, so long as the transferee assumes, in writing, Landlord's obligations regarding the LC accruing from and after the transfer, and Landlord hereunder shall thereupon be released and discharged from all liability to Tenant for the return of the Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security Deposit.

Appears in 1 contract

Samples: Office Space Lease Agreement (Sunglass Hut International Inc)

Transfer of Security Deposit. In the event of the sale or transfer of Landlord’s 's interest in the PremisesPremises or the Office Complex, Landlord shall have the right to transfer the Security Deposit (or to the remaining balance thereof) to such purchaser or transfereeassignee, whereupon in which event Tenant shall look only to the purchaser or assignee, as the new landlord, for the return of the Security Deposit, and Landlord hereunder shall thereupon be released and discharged from all liability to Tenant for the return of the Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security Deposit.

Appears in 1 contract

Samples: Office Space Lease Agreement (Preferred Employers Holdings Inc)

Transfer of Security Deposit. In Landlord may deliver the event of the sale or transfer funds deposited hereunder by Tenant to a purchaser of Landlord’s 's interest in the Premises, Landlord shall transfer in the Security Deposit (or the remaining balance thereof) to event that such purchaser or transferee, whereupon interest be sold; and thereupon Landlord shall be released discharged from all any further liability with respect to Tenant for the return of the such Security Deposit. Tenant shall look only to the party then Landlord for the return of the Security Deposit, except as may otherwise be agreed upon in writing.

Appears in 1 contract

Samples: Lease Agreement (Viasat Inc)

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