Assignment by Tenant Clause Samples
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Assignment by Tenant. Notwithstanding the provisions of Section 23 of the Landlord and Tenant Act, R.C. 1980, Chapter 232 or any amendments thereto, or similar enactments in force now or in the future, the Lessee shall not assign this lease or sub-let or part with possession of all or any part of the herein demised premises or permit any licensee or concessionaire to conduct business on the herein demised premises or a portion thereof without the prior written consent of the Lessor, which consent may not be unreasonably withheld; provided that if the Tenant is a corporation, the transfer of the majority of the stock of the corporation or the transfer or issuance of any of the stock of the corporation sufficient to transfer control of the corporation to others than the immediate families of the then present shareholders shall be deemed substantial violation of the foregoing clause respecting assignment or sublease unless the prior written consent of the Landlord is first obtained. If the tenant shall assign this Lease, the Landlord may collect rent and any other sums from the assignee, and apply the net amount collected to the rent and other amounts payable hereunder but no such assignment shall be deemed a waiver of this covenant or the acceptance of the assignee. All requests to the landlord for consent to assigning this Lease or subletting or parting with the possession of all or part of the herein demised premises shall be made to the Landlord in writing together with such information in writing as a Landlord might reasonably require respecting a proposed assignee, including without limitation, the name address, nature of business experience and responsibility and financial responsibility, standing and background of such proposed assignee and, in the event that such proposed assignee is a corporation, similar information respecting the principal shareholders of such corporation. Any assignee, sub-tenant, licensee or concessionaire approved by the Landlord shall be bound by all the terms, conditions, covenants, provisos, and agreements of this Lease and shall, at the request of the Landlord, execute a covenant to such effect. The Landlord shall have the right to require the execution of such covenant as a prior condition before the granting of consent to assignment or parting with possession of all or part of the herein demised premises. In the event of an assignment consented to by the Landlord, the Tenant shall nonetheless remain responsible to the Landlord for the fulfillm...
Assignment by Tenant. Tenant shall not, without the prior written consent of Landlord, which consent shall not be unreasonably withheld delayed or conditioned, (i) transfer, pledge, mortgage or assign this Lease or any interest hereunder; (ii) permit any assignment of this Lease by voluntary act, operation of law or otherwise; (iii) sublet the Premises or any part thereof; or (iv) permit the regular use of the Premise by any parties other than Tenant, its agents and employees. Tenant shall seek such written consent of Landlord by a written request therefore, setting forth such information as Landlord may reasonably deem necessary. Tenant shall, by notice in writing, advise Landlord of its intention from, on and after a stated date which shall not be less than thirty (30) days after date of Tenant's notice, to assign this Lease or sublet any part or all of the Premises for the balance of the Term. Tenant's notice shall state the name and address of the proposed assignee or subtenant and a true and complete copy of the proposed assignment or sublease shall be delivered to Landlord with Tenant's notice along with any consideration therefor. Landlord will not unreasonably withhold, delay, or condition its consent to Tenant's assignment of the Lease or subletting of such space and incidental rights to the party identified in Tenant's notice.
Assignment by Tenant. (i) Except as set forth in Paragraph 18(a) below and subject to the terms of any Prime Lease, if any, Tenant may not assign its interest in this Lease, in whole or in part, or sublet the Leased Premises, in whole or in part, or mortgage, pledge or otherwise encumber its interest in this Lease or its leasehold estate in the Leased Premises, without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed, and any attempt to do so without obtaining such prior written consent shall be void and of no force or legal effect.
(ii) Upon the occurrence and during the continuance of an Event of Default under this Lease, Landlord shall have the right to collect and enjoy all rents and other sums of money payable under any permitted sublease of the Leased Premises, and Tenant hereby irrevocably and unconditionally assigns such rents and money to Landlord, which assignment may be exercised upon and after (but not before) the occurrence and during the continuance of an Event of Default.
(iii) Notwithstanding any assignment, Tenant shall at all times remain fully, primarily, and directly responsible and liable for the payment of all Rent herein specified and for compliance with all of Tenant’s other obligations under this Lease. No direct collection by Landlord from any such assignee, sublessee, or other occupant shall be construed to constitute a novation or a release of Tenant from the performance of its obligations hereunder.
(iv) If Tenant is a corporation or limited liability company, then any transfer whether in one transaction or a series of transactions of this Lease from Tenant by merger, consolidation or dissolution or any change in ownership or power to vote a majority of the voting stock or membership interests in Tenant outstanding at the time of execution of this instrument (or at any future time) shall constitute an assignment for the purpose of this Lease. If Tenant is a general partnership having one or more corporations, limited liability companies or other entities as partners or if Tenant is a limited partnership (of any variety) having one or more corporations, limited liability companies or other entities as general partners, the provisions of the preceding sentence shall apply to each of such corporations, limited liability companies or other entities as if such corporation, limited liability company or other entity alone had been the Tenant hereunder. If Tenant is a general partnership, then t...
Assignment by Tenant. The Parties agree that:
Assignment by Tenant. The parties agree on the following regarding assignment of Tenant’s interest under this Lease:
Assignment by Tenant. Tenant shall not assign or sublet any interest in this Lease without prior written consent of the Landlord, which consent shall not be unreasonably withheld. Any assignment or sublease without Landlord’s written prior consent shall, at Landlord’s option, terminate this Lease.
Assignment by Tenant. (a) Tenant does not have the right to sublease or assign the Lease to any third party without BWW’s and Landlord’s written approval.
(b) So long as Tenant is in good standing under the Lease, Tenant has the right to assign all of its right, title and interest in the Lease to BWW, its affiliates or its parent company, during the term of the Lease, including any extensions or renewals, without first obtaining Landlord’s consent. No assignment will be effective, however, until BWW or its designated affiliate (the “BWW Entity”) gives Landlord written notice of its acceptance of the assignment. BWW will be responsible for the lease obligations incurred after the effective date of the assignment.
(c) If BWW elects to assume the Lease, under this subparagraph or unilaterally assumes the lease as provided for in subparagraph 3(a) or 4(a), Landlord and Tenant agree that (i) Tenant will remain liable for the responsibilities and obligations, including amounts owed to Landlord, prior to the date of assignment and assumption, and (ii) BWW will have the right to sublease the Premises to another franchisee with Landlord’s prior reasonable approval, provided the franchisee meets BWW’s then-current standards and requirements for franchisees and agrees to operate the Restaurant as a Buffalo Wild Wings restaurant pursuant to a Franchise Agreement with BWW. Upon receipt by Landlord of an assumption agreement pursuant to which the assignee agrees to assume the Lease and to observe the terms, conditions and agreements on the part of Tenant to be performed under the Lease, BWW shall thereupon be released from all liability as tenant under the Lease from and after the date of assignment, without any need of a written acknowledgment of such release by Landlord.
Assignment by Tenant. Tenant shall not voluntarily or by operation of law assign, transfer, mortgage, lease, sublet, grant, license or otherwise transfer or encumber all or any part of Tenant's interest in this Lease or in the Premises, or permit the use or occupancy of the Premises or any part thereof by anyone other than Tenant, without Landlord's prior written consent, which consent shall not be unreasonably withheld or delayed at any time.
Assignment by Tenant. TENANT shall not, whether by operation of law or otherwise, assign this Lease, or any part thereof, without the prior written approval of LANDLORD in each instance.
Assignment by Tenant. Except as hereinafter provided, and subject to the Loan Agreement, the Indenture, the Deed of Trust, and the Non-Disturbance Agreement, Tenant shall not transfer, assign or hypothecate this Lease or its interest hereunder without the written consent of Landlord and Bondholders, which consent shall not be unreasonably withheld; provided that no transfer, assignment or hypothecation shall release Tenant from any obligation or liability under this Lease, and the person or persons to whom this Lease may be transferred or assigned shall also assume all the obligations of Tenant under this Lease. A copy of any such proposed assignment shall be delivered to Landlord and Trustee in advance of its consenting thereto. No subletting and no acceptance by Landlord of any rent or other sum of money from a sublessee, and no recognition by Landlord of any subletting shall release Tenant from any of its obligations under this Lease.
(a) Notwithstanding the provisions of the foregoing Section 6.1(a), subject to the covenants set forth in Section 6.4 hereof, Tenant shall have the right to transfer or assign this Lease or sublet the Project or any portion thereof without the Landlord's consent or the consent of Bondholders to any corporation more than fifty percent (50%) of the stock of which is owned by Parent (as defined in Section 6.4 below), or to any corporation more than fifty percent (50%) of the stock of which is owned by any corporation owning more than fifty percent (50%) of Tenant's stock, or to any corporation surviving or resulting from a merger or consolidation to which Tenant may be a party (providing that Parent shall own more than 50% of the stock of 42 49 such surviving corporation), or to any corporation succeeding to all or a substantial portion of the assets of Tenant (providing that Parent shall own more than 50% of the stock of such successor corporation); provided, that no such transfer or assignment shall relieve or release Tenant from any obligation or liability under this Lease, and the party or parties to whom this Lease may be transferred or assigned shall assume all the obligations of Tenant hereunder. The sale of stock by Parent or any shareholder of Parent, or the merger or consolidation of Parent with or into any other entity, shall not constitute an assignment of this Lease.