Transfer of Premises Clause Samples
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Transfer of Premises. If the owner voluntarily transfers the Premises, Guest has the right to enforce this Agreement against the buyer of the Premises if Guest’s occupancy under this Agreement is to end 180 days or less after the buyer’s interest in the Premises is recorded. If Guest’s occupancy is to end not later than 180 days after such recordation, Guest has no right to enforce the terms of this Agreement unless the buyer agrees in writing to honor this Agreement. If the occupancy is to end more than 180 days after recording of the grantee’s interest, the guest shall have no right to enforce the terms of the agreement unless the grantee has agreed in writing to honor those terms, but the guest shall be entitled to a refund of payments made by him or her except other fees owed to third parties not already lawfully disbursed. Not later than 20 days after transfer of the Premises, the grantee or his Agent shall: (i) notify Guest in writing of the transfer of the Premises, the buyer’s name and address, and the date the buyer’s interest was recorded; and (ii) advise Guest whether Guest has the right to occupy the Premises subject to the terms of the Vacation Rental Agreement (iii) Advise each guest of whether he or she has the right to receive a refund of any payments made by him or her.
(b) Upon termination of the owner’s interest in the Premises, whether by sale, assignment, death, appointment of a receiver or otherwise, the owner, owner’s agent, or real estate agent is required to transfer all advance rent paid by ▇▇▇▇▇ (and other fees owed to third parties not already lawfully disbursed) to the owner’s successor-in-interest within 30 days, and notify Guest by mail of such transfer and of the transferee’s name and address. However, if ▇▇▇▇▇’s occupancy under this Agreement is to end more than 180 days after recordation of the interest of the owner’s successor-in-interest in the Premises, and the successor-in-interest has not agreed to honor this Agreement, all advance rent paid by Guest (and other fees owed to third parties not already lawfully disbursed) must be transferred to Guest within 30 days.
(c) If the owner’s interest in the Premises is involuntarily transferred prior to Guest’s occupancy of the Premises, the owner is required to refund to Guest all advance rent paid (and other fees owed to third parties not already lawfully disbursed) within 60 days after the transfer.
Transfer of Premises. 1) If the Owner voluntarily transfers the Premises, ▇▇▇▇▇▇ has the right to enforce this Agreement against the grantee of the Premises if Tenant’s occupancy under this agreement is to end 180 days or less after the Grantee’s interest in the Premises is recorded. If ▇▇▇▇▇▇’s occupancy is to end more than 180 days after such recordation, ▇▇▇▇▇▇ has no right to this agreement unless the Grantee agrees in writing to honor this Agreement. If the Grantee does not honor this Agreement, ▇▇▇▇▇▇ is entitled to a refund of all rent paid by ▇▇▇▇▇▇ (and other fees owed to third parties not already lawfully disbursed). Within 10 days after transfer of the Premises, the Grantee or the Grantee’s Agent is required to: (i) notify Tenant in writing of the transfer of the Premises, the Grantee’s name and address and the date the Grantee’s interest was recorded; and (ii) advise Tenant whether Tenant has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Tenant.
Transfer of Premises. (a) Tenant shall not assign this Lease or sublease, or grant a license or concession, or otherwise transfer the whole or any part of any Premises without the prior written consent of Landlord in each case, which consent shall not be unreasonably withheld. It shall not be unreasonable for Landlord to withhold consent if (i) Tenant is in default of the Lease, (ii) the proposed transfer would violate a provision of another lease or agreement, (iii) the proposed use would be incompatible with the other uses in the Building or would increase parking or utility requirements, (iv) the proposed transferee is not less creditworthy or experienced than Tenant; or (v) Landlord’s lender or Tenant’s guarantor (if any) refuses to consent. Tenant’s request for consent shall be accompanied by sufficient documentation to allow Landlord to make a decision based on the foregoing factors. In the case of each transfer, Tenant shall cure any outstanding defaults prior to the transfer date, and remain jointly and severally liable with the transferee for the full and timely performance of each and every term, covenant and condition of Tenant under the Lease. All cash or other proceeds whatsoever payable by or on behalf of a transferee of this Lease or the Premises, whensoever same may be payable, shall be deemed to be rent , and any such rent in excess of the rentals payable by Tenant hereunder shall promptly be paid to Landlord.
(b) Notwithstanding any provision hereof to the contrary, Tenant may assign or sublet the Premises (“Permitted Transfer”), or any portion thereof, without Landlord’s consent, to any corporation which controls, is controlled by or is under common control with Tenant, or to any corporation resulting from the merger or consolidation with Tenant or to any person or entity which acquires all the assets of Tenant as a going concern of the business that is being conducted on the Premises, or any entity created for the purpose of an initial public offering of Tenant (each, an “Affiliate of Tenant”) provided that said assignee or subtenant assumes, in full, the obligation of Tenant under the Lease, further provided however, that; (1) Tenant shall not be in material default under the Lease beyond the applicable cure period (if any) at the time of any such Permitted Transfer; (ii) in the case of a Permitted Transfer following which the Tenant shall remain in existence, then Tenant shall remain fully liable pursuant to the terms and condition of the Lease (as amended...
Transfer of Premises. If the owner voluntarily transfers the Premises, ▇▇▇▇▇▇ has the right to enforce this Agreement against the grantee of the Premises if Tenant’s occupancy under this Agreement is to end 180 days or less after the ▇▇▇▇▇▇▇’s interest in the Premises is recorded. If ▇▇▇▇▇▇’s occupancy is to end more than 180 days after such recordation, ▇▇▇▇▇▇ has no right to enforce the terms of this Agreement unless the grantee agrees in writing to honor this Agreement. If the grantee does not honor this Agreement, ▇▇▇▇▇▇ is entitled to a refund of all advance rent paid by ▇▇▇▇▇▇ (and other fees owed to their parties not already lawfully disbursed). Within 20 days after the transfer of the Premises, the grantee or the grantee’s agent is required to: (i) notify Tenant in writing of the transfer of the Premises, the grantee’s name and address, and the date the grantee’s interest was recorded; and (ii) advise Tenant whether ▇▇▇▇▇▇ has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Tenant. However, if the grantee engages Agent to continue managing the Premises after the transfer, the grantee shall have no obligation under (i) or (ii) above if this Agreement must be honored under the Vacation Rental Act or if the grantee agrees in writing to honor this agreement.
Transfer of Premises. If the Building is sold or transferred, voluntarily or involuntarily, Landlord’s Lease obligations and liabilities accruing after the transfer shall be the sole responsibility of the new owner.
Transfer of Premises. In the event of any transfer of Landlord’s interest in the Premises, other than a transfer for security purposes only, provided that the assignee landlord agrees in writing, in form and substance acceptable to Tenant, to assume all obligations of Landlord to Tenant arising out of this Lease, Landlord shall be automatically relieved of any and all obligations and liabilities on the part of Landlord arising out of this Lease which accrue from and after the date of such transfer and Tenant agrees to attorn to the transferee.
Transfer of Premises. If the Premises, or Landlord’s interest in the Premises, is sold, transferred by reason of foreclosure or other enforcement proceeding, or otherwise transferred by Landlord or any successor, Tenant shall attorn to the purchaser or transferee and recognize it as the lessor under this Lease, and, provided the purchaser or transferee assumes all obligations hereunder, the transferor shall have no further liability hereunder.
Transfer of Premises. Except as otherwise permitted in the Credit Agreement, the Grantor covenants and agrees with the Agent that the Grantor shall not sell, transfer, convey, mortgage, encumber or otherwise dispose of the Premises, the Rents and Profits or the Intangible Personalty or any part thereof or any interest therein or engage in subordinate financing with respect thereto during the term of this Mortgage without the prior written consent of the Agent.
Transfer of Premises. A. If Landlord sells or transfers all or any portion of the Premises, then Landlord, on consummation of the sale or transfer, shall be released from any liability thereafter accruing under this Agreement provided that such assignee or transferee shall assume the obligations of Landlord under this Agreement. If any Security Deposit or prepaid Rent has been paid by Tenant, Landlord agrees to transfer the Security Deposit or prepaid Rent to Landlord’s successor, other than any portion of the Security Deposit applied in accordance with this Agreement or retained to compensate Landlord for any loss or damage which Landlord may have suffered as a result of Tenant’s default, and thereupon Landlord shall be discharged from any further liability in reference thereto.
Transfer of Premises. In the event of a Transfer by Franchisee of this Agreement or the Franchised Business, if legally permissible, Franchisee shall also Transfer all of its rights under any lease(s) for its Locations or any other property necessary for the operation of the Franchised Business to the same transferee of Franchisee.