Common use of Surrender of Leased Property Clause in Contracts

Surrender of Leased Property. BB&T agrees that upon the termination of this Site Agreement it will surrender the Leased Property to the County free and clear of all liens and encumbrances, except Permitted Encumbrances (other than this Site Agreement), and all right, title and interest of BB&T or any sublessee or assignee in and to the Leased Property, including any and all improvements and fixtures which shall at the time be situated thereon or attached thereto, shall vest in the County. BB&T and any sublessee or assignee shall execute and deliver, upon request by the County, any instrument of transfer, conveyance or release necessary or appropriate to confirm the vesting of such right, title and interest in the County. If the Leased Property has been subleased by BB&T pursuant to a New Sublease, upon termination of this Site Agreement any New Sublease, by the terms thereof, shall also terminate.

Appears in 2 contracts

Sources: Site Agreement, Site Agreement