Common use of Payments After a Transfer of Interest Clause in Contracts

Payments After a Transfer of Interest. In the event payments should be made to MGC-054.doc other parties because of any authorized transfer of the interest of any of the persons constituting Lessor, payments tendered to Lessor’s designated agent, or to the party making the transfer if only one party constitutes Lessor, shall conclusively be deemed payment to the transferee until Lessee receives notice and evidence satisfactory to it from both the agent (if applicable) and the transferor that the transferor’s interest has been transferred and that payments should be made to the transferee or the transferee’s designated agent.

Payments After a Transfer of Interest. In the event payments should be made to MGC-054.doc other parties because of any authorized transfer of the interest of any of the persons constituting Lessor, payments tendered to Lessor’s 's designated agent, or to the party making the transfer if only one party constitutes Lessor, shall conclusively be deemed payment to the transferee until Lessee receives notice and evidence satisfactory to it from both the agent (if applicable) and the transferor that the transferor’s 's interest has been transferred and that payments should be made to the transferee or the transferee’s designated agent.. MGC 033.doc