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NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 55 / 60

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FORM 23

LIMITATION OF LIABILITY

In consideration of the benefits accruing hereunder, Tenant and all successors and assigns covenant and agree that, in the event of an actual or alleged failure, breach or default hereunder by Landlord and/or enforcement of any indemnification made or given by Landlord:

  • A.

    The sole and exclusive remedy shall be against the Landlord's interest in the Building;

  • B.

    No partner of Landlord shall be sued or named as a party in any suit or action (except as

may be necessary to secure jurisdiction of the partnership);

  • C.

    No service of process shall be made against any partner of Landlord (except as may be necessary to secure jurisdiction of the partnership);

  • D.

    No partner of Landlord shall be required to answer or otherwise plead to any service of process;

  • E.

    No judgment will be taken against any partner of Landlord;

  • F.

    Any judgment taken against any partner of Landlord may be vacated and set aside at any

time upon demand by Landlord;

  • G.

    No writ of execution will ever be levied against the assets of any partner of Landlord.

  • H.

    The obligations of Landlord under this Lease do not constitute personal obligations of the individual partners, directors, officers or shareholders of Landlord, and Tenant shall not seek recourse against the individual partners, directors, officers or shareholders of Landlord or any of their personal assets for satisfaction of any liability in respect to this Lease;

I.

These covenants and agreements are enforceable both by Landlord and also by any partner of Landlord.

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