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5.3 ERMUSR 06-03-2025
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5.3 ERMUSR 06-03-2025
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15 <br />235433v5 <br /> <br />(k) If Lessor, at any time during the Term of this Lease, decides to sell, <br />subdivide or otherwise transfer all or any part of the Property containing the Premises, to <br />a purchaser other than Lessee, Lessor shall promptly notify Lessee in writing, and such <br />sale, subdivision or transfer shall be subject to this Lease and Lessee’s rights hereunder. <br />In the event of a change in ownership, transfer or sale of the Property, within ten (10) <br />days of such transfer, Lessor or its successor shall send the following documents to <br />Lessee: (i) Deed, bill of sale, easement, or other instrument of transfer, (ii) New IRS <br />Form W-9; (iii) Completed and Signed Lessee Payment Direction Form, and (iv) Full <br />contact information for new Lessor including phone number(s). Until Lessee receives all <br />such documents, Lessee’s failure to transfer payments under this Lease to the transferee <br />shall not be an event of default and Lessee reserves the right to hold payments due under <br />this Lease. <br />(l) If at any time after the date of this Lease, Lessor intends or desires to <br />accept a bona fide written offer from a third party seeking (i) an assignment or transfer of <br />Lease Payments associated with this Lease, or (ii) a purchase of an easement, license or <br />any other lesser interest in the Property, the intent of which is to effect a transfer of Lease <br />Payments without transferring the full and complete obligation or ability to assume all of <br />Lessor’s obligations hereunder (either of the foregoing a “Rental Stream Offer”), prior to <br />accepting such Rental Stream Offer, Lessor shall furnish Lessee with a copy of the Rental <br />Stream Offer. Lessee shall have the right within thirty (30) days after it receives such <br />copy to match the Rental Stream Offer and agree in writing to match the terms of the <br />Rental Stream Offer. Such writing shall be in the form of a contract substantially similar <br />to the Rental Stream Offer (“Lessee’s Offer”). If Lessor opts to accept an assignment or <br />transfer of Lease Payments, Lessor shall be obligated to accept Lessee’s Offer in lieu of <br />the Rental Stream Offer from the third party. If Lessee chooses not to exercise this right <br />or fails to provide written notice to Lessor within the thirty (30) day period, Lessor may <br />accept the Rental Stream Offer, subject to the terms of this Lease. If Lessor attempts to <br />assign or transfer Lease Payments without complying with this Section, the assignment or <br />transfer shall be void. Lessee reserves the right to hold Lease Payments due under this <br />Lease until Lessor complies with the requirements of this Section. <br />(m) Contemporaneously with the execution of this Lease, the parties will <br />execute a recordable Memorandum of Lease. Either party may record this Memorandum <br />of Lease at any time during the Term, in its absolute discretion. Thereafter during the <br />Initial Term or Renewal Term, either party will, at any time upon fifteen (15) business <br />days’ prior written notice from the other, execute, acknowledge and deliver to the other a <br />recordable Memorandum of Lease. <br />(n) Except for the indemnity obligations set forth in this Lease, and <br />otherwise notwithstanding anything to the contrary in this Lease, Lessee and Lessor each <br />waives any claims that each may have against the other with respect to consequential, <br />incidental or special damages, however caused, based on any theory of liability. <br />(o) Lessee agrees to comply with all federal, state and local laws, orders, rules <br />and regulations (“Laws”) applicable to Lessee’s use of the Equipment on the Property. <br />189
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