Transfer to Purchaser. If any security be given by Lessee to secure the faithful performance of all or any of the covenants of this Lease on the part of Lessee, Lessor may transfer and/or deliver the security, as such, to the purchaser of the reversion, in the event that the reversion be sold, and thereupon Lessor shall be discharged from any further liability in reference thereto.
Appears in 6 contracts
Sources: Lease Agreement (Sputnik, Inc.), Business Park Net Lease (Innova Corporation), Triple Net Lease (MCB Financial Corp)
Transfer to Purchaser. If any security be given by Lessee ▇▇▇▇▇▇ to secure the faithful performance of all or any of the covenants of this Lease on the part of Lessee, Lessor may transfer and/or deliver the security, as such, to the purchaser of the reversion, in the event that the reversion be sold, and thereupon Lessor shall be discharged from any further liability in reference thereto.
Appears in 2 contracts
Sources: Net Office Lease (Itex Corp), Lease Agreement (Linuxcare Inc)