ARTICLE TWELVE. The Transfer of the Utilization of the Premises Right 12.1. If a transfer of ownership of the Leased Premises occurs or a transfer of the right of the utilization thereof, then the buyer/ owner of the utilization right shall be the designated successor of the First Party and he shall be obliged by all the terms and conditions of this Agreement.
Appears in 2 contracts
Sources: Villa/House Lease Agreement, Office Space Lease Agreement