Common use of Transfers of title Clause in Contracts

Transfers of title. If title to the Building or any other portion of the Property is transferred or the leasehold estate in the entire Building becomes vested in another person (whether voluntarily or by operation of law), thereafter and upon notice to Tenant and the delivery of the Security Deposit, if any, to the transferee, the transferor shall be entirely released from and relieved of all existing and future covenants, obligations and liabilities hereunder so long as transferee is obligated to perform all of Landlord’s obligations hereunder. The provisions of this Section shall be self-executing and deemed to be a covenant running with the land.

Transfers of title. If title to the Building or any other portion of the Property is transferred or the leasehold estate in the entire Building becomes vested in another person (whether voluntarily or by operation of law), thereafter and upon notice to Tenant and the delivery of the Security Deposit, Deposit if any, to the transferee, the transferor shall be entirely released from and relieved of all existing and future covenants, obligations and liabilities hereunder so long as transferee is obligated to perform all of Landlord’s 's obligations hereunder. The provisions of this Section shall be self-executing and deemed to be a covenant running with the land.