Common use of Transfer and Assignment of Premises by Landlord Clause in Contracts

Transfer and Assignment of Premises by Landlord. Landlord shall have the right to transfer and assign, in whole or in part, its rights and obligations under this Lease and in the Premises and/or the Property. In the event of any such transfer or transfers, the transferor shall be automatically relieved of any and all obligations and liabilities on the part of Landlord accruing from and after the effective date of the transfer.

Transfer and Assignment of Premises by Landlord. Landlord shall have the right to transfer and assign, in whole or in part, all of its rights and obligations under this Lease and hereunder in the Premises and/or the Property. In the event of any such transfer or transfers, the transferor shall be automatically relieved of any and all obligations and liabilities on the part of Landlord accruing from and after the effective date of the transfer, provided that the transferee agrees to assume the obligations and liabilities of Landlord hereunder accruing after the effective date of the transfer.