• December 28, 2016

Exculpation of Landlord

Exculpation of Landlord

  • The Landlord Parties (defined as Landlord, Landlord’s managing agent and any future Fee Lender, and all of their respective officers, directors, shareholders, members, managers, partners, and employees), disclosed and undisclosed, shall have no personal liability under or in connection with this Lease. Tenant shall look only to Landlord’s interest in the Property and this Lease for the satisfaction of any Tenant’s remedies or to collect any judgment requiring the payment of money by Landlord or such persons under or in connection with this Lease. No other assets of Landlord or such persons shall be subject to lien, levy, execution or other enforcement procedure for the satisfaction of Tenant’s remedies or the collection of any judgment under or in connection with this Lease. If Tenant acquires a lien on such other property or assets by judgment or otherwise, Tenant shall promptly release that lien by signing, acknowledging and delivering to Landlord any instrument, prepared by Landlord, required for the lien to be released.
  • Furthermore, the obligations of Landlord under this Lease shall not be binding upon the Landlord and any Landlord Parties initially after the sale, conveyance, assignment or transfer by Landlord or any of such Landlord Parties of its interest in the Land, the Building and this Lease, as the case may be (or upon any other Landlord Parties that constitutes Landlord after the sale, conveyance, assignment or transfer by any of, as the case may be), to the extent such obligations accrue from and after the date of such sale, conveyance, assignment or transfer.
  • The Landlord Parties shall not be liable for the performance of Landlord’s obligations under this Lease. Tenant shall look solely to Landlord to enforce Landlord’s obligations hereunder.

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