Common use of Effect of Sale, Conveyance or Assignment Clause in Contracts

Effect of Sale, Conveyance or Assignment. A sale, conveyance or assignment (collectively, the “disposition”) of the Development or part thereof shall operate to release the Landlord from liability from after the effective date of such disposition upon the assumption by the transferee under such disposition of all the covenants, terms and conditions of this Lease from and after the effective date of such disposition except as such may relate to the period prior to such effective date of such disposition, and the Tenant shall thereafter look solely to such transferee in respect of matters arising under this Lease in respect of the period arising after the effective date of such disposition. This Lease shall not be affected by any such disposition, and the Tenant shall attorn to the transferee of such disposition.