Common use of SALE/ASSIGNMENT Clause in Contracts

SALE/ASSIGNMENT. Landlord shall have the right to transfer and assign, in whole or in part, all of its ownership interest, rights and obligations in the Lease, including the Security Deposit, and upon transfer Landlord shall be released from any further obligations hereunder, and Tenant agrees to look solely to the successor in interest of Landlord for the performance of such obligations and the return of any Security Deposit.

Appears in 2 contracts

Sources: Commercial Lease, Commercial Lease