Transfers; Refund Sample Clauses
The "Transfers; Refund" clause defines the rules and procedures for transferring funds or assets between parties and the conditions under which refunds may be issued. Typically, this clause outlines the process for initiating a transfer, any required approvals, and the timeframe for completion. It also specifies the circumstances in which a party is entitled to a refund, such as non-delivery of goods or services, and the method by which refunds will be processed. The core function of this clause is to provide clear guidelines for handling financial transactions and to protect both parties by ensuring fair and predictable outcomes in cases where transfers or refunds are necessary.
Transfers; Refund. In connection with any assignment of the Landlord’s interest under this Lease, the assigning Landlord or any predecessor shall have the right, and the obligation, to transfer all amounts deposited pursuant to the provisions of this Section 3.3 and still in its possession to such assignee and, upon such transfer, the assigning Landlord or any such predecessor, as the case may be, transferring the deposits shall thereupon be completely released from all liability with respect to such deposits so transferred, and Tenant shall look solely to said assignee in reference thereto. As of the applicable Expiration Date for each Leased Property, any sums held by Landlord under this Section 3.3 allocable to such Leased Property shall be returned to Tenant, only as and when the conditions of Section 3.4.3 for the return of the Security Deposit relative to such Leased Property have been met and provided that any and all Impositions or insurance premiums due and owing hereunder with respect to such Leased Property have been paid in full.
Transfers; Refund. In connection with any assignment of the Landlord’s interest under this Lease, the assigning Landlord or any predecessor shall have the right to transfer all amounts deposited pursuant to the provisions of this Section 3.3 and still in its possession to such assignee (or in the case of a partial transfer of the Premises, such portion as Landlord in its reasonable discretion allocates to the portion of the Premises so transferred) and, upon such transfer and assumption of the obligations pursuant to the terms and conditions of this Lease with respect to such amounts, the assigning Landlord or any such predecessor, as the case may be, transferring the deposits shall thereupon be completely released from all liability with respect to such deposits so transferred, and Tenant shall look solely to said assignee in reference thereto. As of the Expiration Date, any sums held by Landlord under this Section 3.3 shall be returned to Tenant, if (i) any and all Impositions or insurance premiums which have accrued or are due and owing hereunder have been paid in full, (ii) no Event of Default is then continuing and (iii) Tenant has fully performed and satisfied all of its obligations under this Lease.
Transfers; Refund. In connection with any assignment of the Landlord’s interest under this Lease, the assigning Landlord or any predecessor shall have the right, and the obligation, to transfer all amounts deposited pursuant to the provisions of this Section 3.3 and still in its possession to such assignee and, upon such transfer, the assigning Landlord or any such predecessor, as the case may be, transferring the deposits shall thereupon be completely released from all liability with respect to such deposits so transferred, and Tenant shall look solely to said assignee in reference thereto. As of the Expiration Date, any sums held by Landlord under this Section 3.3 shall be returned to Tenant, only as and when the conditions of Section 3.4.3 for the return of the Security Deposit have been met and provided that any and all Impositions or insurance premiums due and owing hereunder have been paid in full.