Common use of Additional Consideration Payable to Lessor Clause in Contracts

Additional Consideration Payable to Lessor. If Lessor gives its consent to any Transfer, Lessor shall be entitled to any proceeds from any such Transfer, with the Lessor’s participation capped at a maximum of four percent (4%) of gross proceeds from the sale if the Lease is assigned or otherwise transferred or sold within Lease Years one (1) through five (5); and five percent (5%) if transferred after Lease Year five

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement