Example ContractsClausesEffectiveness of Release by Landlord
Effectiveness of Release by Landlord
Effectiveness of Release by Landlord contract clause examples

Effectiveness of Release by Landlord. Subject to payment of the Termination Payment, Landlord hereby releases Tenant and its affiliates, and all persons or entities claiming by, through or under them, and their respective heirs, predecessors, successors, and assigns (collectively, the “Tenant Parties”), from the Remaining Liable Amount, subject to automatic rescission of such releases and reinstatement of the Guarantees and the Remaining Liable Amount in full in the event # Tenant or any third-party commences any Insolvency Proceeding (as defined by the Master Lease), and # in or as a result of such Insolvency Proceeding Landlord is required to disgorge all or any portion of the Termination Payment (whether pursuant to 11 U.S.C. §§ 547 or 548 or any analogous law of any jurisdiction).

Effectiveness of Release by Landlord. Subject to payment of the Surrender Amount, Landlord hereby releases Tenant and its affiliates, and all persons or entities claiming by, through or under them, and their respective heirs, predecessors, successors, and assigns, from the Liable Amount, subject to automatic rescission of such releases and reinstatement of the Liable Amount in full in the event # Tenant or any third-party commences any case, proceeding, or other action under any law relating to bankruptcy, insolvency, reorganization, or relief of debtors, including under Title 11 of the U.S. Code, # seeking to have any order for relief of Tenant’s debts, or seeking to adjudicate Tenant as bankrupt or insolvent, or # seeking appointment of a receiver, trustee, custodian, or other similar official for Tenant or for all or any substantial part of Tenant’s assets (an “Insolvency Proceeding”), and # in or as a result of such Insolvency Proceeding Landlord is required to disgorge all or any portion of the Surrender Payment (whether pursuant to 11 U.S.C. §§ 547 or 548 or any analogous law of any jurisdiction).

Release by Landlord. Effective as of the Termination Effective Date, Landlord hereby releases and forever discharges Tenant and each Guarantor and each of their respective successors, assigns, agents, equity holders, directors, officers, employees, parent corporations, subsidiary corporations, affiliated corporations, and affiliates, from any and all claims, debts, liabilities, demands, obligations, costs, expenses, actions and causes of action, of every nature and description, whether known or unknown, absolute, mature, or not yet due, liquidated or non–liquidated, contingent, non–contingent, direct, or indirect or otherwise arising prior to each Termination Effective Date; provided, however, that such release and discharge shall not release Tenant or any Guarantor for failure to comply with the terms and conditions of this Agreement.

Release of Landlord. Landlord shall not be responsible or liable at any time for any loss or damage to Tenant’s personal property or to Tenant’s business, including any loss or damage to either the person or property of Tenant or Tenant Related Parties that may be occasioned by or through the acts or omissions of persons occupying adjacent, connecting, or adjoining space. Tenant shall store its property in and shall use and enjoy the Leased Premises and all other portions of the Building and Improvements at its own risk, and hereby releases Landlord, to the fullest extent permitted by law, from all claims of every kind resulting in loss of life, personal or bodily injury, or property damage.

Release of Landlord. If, during the term of this Lease, Landlord shall sell its interest in the Building or Complex of which the Leased Premises form a part, or the Leased Premises, then from and after the effective date of the sale or conveyance, Landlord shall be released and discharged from any and all obligations and responsibilities under this Lease, except those already accrued. Upon any such conveyance, the grantee or transferee shall be deemed to have assumed the obligations of Landlord that accrue after the effective date of such transfer.

By Landlord. Landlord hereby indemnifies and agrees to defend, save, and hold Tenant harmless from and against any and all Claims for injury or death to persons or damage to property occurring within or about the Project to the extent caused by the willful misconduct or gross negligence of Landlord or its employees.

By Landlord. Landlord hereby indemnifies and agrees to defend (at Tenant’s option and with counsel reasonably acceptable to Tenant), save and hold Tenant harmless from and against any and all Claims for injury or death to persons or damage to property occurring within or within or about the Common Area caused by the willful misconduct or gross negligence of Landlord or its employees, except to the extent caused by the willful misconduct or negligence of Tenant or its agents or employees.

Effectiveness; Release. Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c), from and after the effective date specified in each Assignment and Assumption Agreement, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption Agreement, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption Agreement, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption Agreement covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of [Sections 4.4] [LIBOR Rate Unascertainable; Etc.], 5.8 [Increased Costs], and 13.3 [Expenses, Indemnity; Damage Waiver] with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph # of this Section.

Release of Landlord by Wellington. Provided that DCH has approved the transition of the Facilities and that Transition has occurred, effective as of the Transition, and excluding any obligations of Landlord under this Agreement and the OTAs, Tenants, on behalf of themselves and the other Wellington Parties, hereby irrevocably and unconditionally release, acquit, and forever discharge Landlord and its affiliated and related entities, assigns, and their respective shareholders, partners, members, managers, officers, directors and employees (collectively, the “Landlord Parties”) from any and all charges, complaints, claims, counterclaims, liabilities, demands, costs, losses, debts and expenses of any nature whatsoever (including attorneys’ fees and costs actually incurred), known or unknown, suspected or unsuspected, accrued or not accrued, whether in law or in equity, that existed from the beginning of time to the Transition Date.

Release of Wellington by Landlord. Provided that DCH has approved the transition of the Facilities and that Transition has occurred, effective as of the Transition, and excluding any obligations of Wellington under this Agreement and the OTAs, Landlord, on behalf of itself and the other Landlord Parties irrevocably and unconditionally releases, acquits, and forever discharges the Wellington Parties from any and all charges, complaints, claims, liabilities, demands, costs, losses, debts, and expenses of any nature whatsoever (including attorneys’ fees and costs actually incurred), known or unknown, suspected or unsuspected, accrued or not accrued, whether in law in equity, that existed from the beginning of time to the Transition Date.

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