Transfer of the ownership of the premises Sample Clauses

Transfer of the ownership of the premises. This Agreement will continue to bind the transferee even if the Landlord transfers the ownership to a third party after delivery of the premises and during the occupancy by the Tenant. If the circumstance mentioned in the preceding paragraph occurs, the Landlord shall hand over the security deposit (deposit) and the rent collected in advance to the transferee, and shall notify the Tenant in writing. The provisions of the preceding two paragraphs do not apply to this Agreement if it is not notarized and the term is over five years or is indefinite.
Sample 1Sample 2Sample 3See All (15)
AutoNDA by SimpleDocs
Transfer of the ownership of the premises. This Contract continues to exist to the transferee even if the Lessor transfers the ownership of the Premises to a third party after the Lessor delivered the Premises and during the occupancy by the Lessee. In the event of transfer of ownership as mentioned in the preceding paragraph, the Lessor shall hand over the security deposit and the rent collected in advance to the Transferee, and notify the Lessee accordingly in writing. The provisions of the preceding two paragraphs shall not be applicable to this Contract if the Contract has not been notarized and involves an Contract term more than five years.
Sample 1Sample 2Sample 3See All (5)

Related to Transfer of the ownership of the premises

  • Ownership of Improvements All modifications, alterations and improvements made or added to the Leased Premises by Tenant (other than Tenant’s inventory, equipment, movable furniture, wall decorations and trade fixtures) shall be deemed real property and a part of the Leased Premises, but shall remain the property of Tenant during the Lease, and Tenant hereby covenants and agrees not to grant a security interest in any such items to any party other than Landlord. Any such modifications, alterations or improvements, once completed, shall not be altered or removed from the Leased Premises during the Lease Term without Landlord’s written approval first obtained in accordance with the provisions of Paragraph 6.1 above. At the expiration or sooner termination of this Lease, all such modifications, alterations and improvements other than Tenant’s inventory, equipment, movable furniture, wall decorations and trade fixtures, shall automatically become the property of Landlord and shall be surrendered to Landlord as part of the Leased Premises as required pursuant to Article 2, unless Landlord shall require Tenant to remove any of such modifications, alterations or improvements in accordance with the provisions of Article 2, in which case Tenant shall so remove same. Landlord shall have no obligations to reimburse Tenant for all or any portion of the cost or value of any such modifications, alterations or improvements so surrendered to Landlord. All modifications, alterations or improvements which are installed or constructed on or attached to the Leased Premises by Landlord and/or at Landlord’s expense shall be deemed real property and a part of the Leased Premises and shall be property of Landlord. All lighting, plumbing, electrical, heating, ventilating and air conditioning fixtures, partitioning, window coverings, wall coverings and floor coverings installed by Tenant shall be deemed improvements to the Leased Premises and not trade fixtures of Tenant.

  • Condition of the Premises LCZ hereby acknowledges that LCZ has personally examined the Premises prior to entering into this Lease Agreement. This Lease Agreement is based upon LCZ's personal inspection of the Premises and not upon any representation or warranties or conditions by CITY or CITY's agents. To the extent such reports exist, CITY shall provide any environmental, hazardous materials, and asbestos reports it has regarding the Parks and Recreation administration building and Ager Building, which shall not be relied upon as comprehensive in scope or accuracy. LCZ acknowledges that it has not been influenced to enter into this transaction, nor has LCZ relied upon any warranties or representations not set forth or incorporated in this Lease Agreement, the Purchase Agreement, Operating Agreement, or otherwise previously made in writing. CITY makes no representation or warranties of any kind whatsoever, either express or implied, with respect to the use, title, condition, code or law compliance, or occupation of the Premises with respect to the physical or structural condition of the Premises, the Premises' compliance with the Americans with Disabilities Act, or with respect to the existence or absence of toxic or hazardous materials, substances or wastes in, on, under or affecting the Premises and hereby disclaims any implied warranty regarding the fitness for any particular purpose, quality or merchantability of the Premises or any portion thereof. Except to the extent otherwise provided in this Lease Agreement, the Premises shall be leased to LCZ on an "AS-IS, WHERE-IS" basis without any representations or warranties of any kind, express or implied. The parties agree that CITY shall not be required to make or remove any improvements to the Premises. CITY shall be released from all responsibility and liability to LCZ regarding the condition of the Premises, including environmental conditions, valuation, salability or utility of the Premises, or its suitability for any purpose whatsoever. LCZ agrees that it will not seek to recover from CITY any costs that may be incurred for the clean-up or remediation in any manner of any toxic or hazardous materials, substances or wastes as may exist in, on, under or affecting the Premises, regardless of where now located, and specifically waives any right to recovery thereof.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!