Common use of Assignment Mortgage and Subletting Clause in Contracts

Assignment Mortgage and Subletting. (a) Tenant shall not (i) assign or otherwise transfer this Lease or the term and estate hereby granted, (ii) sublet all or part of the Premises or allow the same to be used or occupied by others or in violation of Paragraph 8 hereof, or (iii) mortgage, pledge or encumber this Lease or all or any part of the Premises in any manner by reason of any act or omission on the part of Tenant, without the prior written consent of Landlord in each instance, which consent Landlord shall be entitled to withhold in its sole discretion. (b) If this Lease be assigned, whether or not in violation of the terms of this Lease, Landlord may collect rent from the assignee. If the Premises or any part thereof be sublet or be used or occupied by anybody other than Tenant, whether or not in violation of this Lease, Landlord may, after default by Tenant and expiration of Tenant's time to cure such default, if any, collect rent from the subtenant or occupant. In either event, Landlord may apply the net amount collected to the rent herein reserved. The consent by Landlord to an assignment, transfer, encumbering or subletting pursuant to any provision of this Lease shall not in any way be considered to relieve Tenant from obtaining the express prior consent of Landlord to any other or further assignment, transfer, encumbering or subletting. Neither any assignment of this Lease nor any subletting, occupancy or use of the Premises or any part thereof by any person other than Tenant nor any collection of rent by Landlord from any person other than Tenant, nor any application of any such rent as provided in this Paragraph 16 shall, under any circumstances be deemed a waiver of any of the provisions of Paragraph 16(a) hereof or relieve, impair, release or discharge Tenant of its obligations fully to perform the terms of this Lease on Tenant's part to be performed and Tenant shall remain fully and primarily liable there for. (c) Any assignment or subletting, if consented to, shall be further subject to and conditioned upon the following: (1) at the time of any proposed subletting or assignment, Tenant shall not be in default under any of the terms, provisions or conditions of this Lease; and (ii) the sublessee or assignee shall occupy only the Premises and conduct its business in accordance with the Permitted Use; and (iii) that if the rents charges or other sums required to be paid by such sublessee or assignee exceed the rents, charges or other sums reserved hereunder, then Tenant shall pay to Landlord monthly the entire amount of such excess, which shall be deemed Additional Rent, and (iv) prior to occupancy, Tenant and its assignee or sublessee shall execute, acknowledge and deliver to Landlord a fully executed counterpart of a written assignment of lease or sublease, as the case may be (consented to by any guarantor of this Lease), by the terms of which: (x) in case of an assignment, Tenant will assign to such assignee Tenant's entire interest in this Lease, together with any Security Deposit, and all prepaid rents hereunder, and the assignee will accept said assignment and assume and agree to perform as the obligation of such assignee directly to and for the benefit of Landlord and enforceable by Landlord, all of the terms, covenants and conditions of this Lease on Tenant's part to be performed; or (y) in case of a subletting, the sublease in all respects will be subject and subordinate to all of the terms, covenants and conditions of this Lease and the sublessee thereunder will agree to be bound by and to perform all of the terms, covenants and conditions of this Lease on Tenant's part to be performed, except the payment of rents, charges and other sums reserved hereunder, which Tenant shall continue to be obligated to pay and shall pay to Landlord; and (v) notwithstanding any such assignment or subletting under the terms of this Paragraph, both Tenant and any guarantor will acknowledge that, notwithstanding any such assignment or subletting and the consent of Landlord thereto, neither Tenant nor said guarantor, if any, is released or discharged from any liability whatsoever under this Lease and both shall continue liable with the same force (vi) Tenant shall pay to Landlord the sum of One Thousand Dollars ($1,000.00) to cover Landlord's administrative costs, overhead and attorneys' fees in connection with such assignment or subletting.

Assignment Mortgage and Subletting. (a) Tenant Neither Tenant, nor Tenant's legal representatives, successors or assigns, shall not (i) assign assign, mortgage or otherwise transfer encumber this Lease Lease, or the term and estate hereby grantedsublease, (ii) sublet all or part of use or occupy or permit the Premises or allow the same any part thereof to be used or occupied by others or in violation of Paragraph 8 hereof, or (iii) mortgage, pledge or encumber this Lease or all or any part of the Premises in any manner by reason of any act or omission on the part of Tenant, without the prior written consent of Landlord in each instanceLandlord, which and any assignment, mortgage, encumbrance or sublease without Landlord's prior written consent shall be voidable, at the option of Landlord, and, at the further option of Landlord, shall terminate this Lease. Landlord shall be entitled consent to withhold an assignment of the Lease or subletting to any corporation which controls, is controlled by or is under common control with Tenant, or to a transfer of the Lease by operation of law resulting from a merger, consolidation, liquidation, or change in its sole discretion. fifty percent (b50%) or more of the voting control of Tenant, or to any person or entity which acquires all of the assets of Tenant's business as a going concern, provided that (i) the business reputations, creditworthiness and net worth of the person or entity to which the Lease is assigned or transferred or the Premises are sublet are reasonably acceptable to Landlord, (ii) such person or entity uses the Premises for the purposes specified in the Lease and for no other purpose, and (iii) Tenant remains fully liable under this Lease. If this Lease be assigned, whether or not in violation of the terms of this Lease, Landlord may collect rent from the assignee. If if the Premises or any part thereof be sublet or be used subleased or occupied by anybody any other party other than Tenant, whether or not in violation of this Lease, Landlord may, after default by Tenant and expiration of Tenant's time to cure such default, if any, collect rent Base Rent and Additional Rent from the subtenant Assignee, Sublease or occupant. In either event, Landlord may occupant and apply the net amount collected to the rent Base Rent and Additional Rent herein reserved. The consent by Landlord to an , but no such assignment, transfer, encumbering or subletting pursuant to any provision of this Lease shall not in any way be considered to relieve Tenant from obtaining the express prior consent of Landlord to any other or further assignment, transfer, encumbering or subletting. Neither any assignment of this Lease nor any subletting, sublease occupancy or use of the Premises or any part thereof by any person other than Tenant nor any collection of rent by Landlord from any person other than Tenant, nor any application of any such rent as provided in this Paragraph 16 shall, under any circumstances shall be deemed a waiver of any this covenant or the acceptance of the provisions assignee, sublessee or occupant as Tenant, or release of Paragraph 16(a) hereof or relieve, impair, release or discharge Tenant from the further performance by Tenant of its the obligations fully to perform on the terms part of this Lease on Tenant herein contained. Any sale or other transfer, including consolidation, merger, or reorganization, of a majority of the voting stock of Tenant's part to be performed and Tenant shall remain fully and primarily liable there for. (c) Any assignment or subletting, if consented toTenant is a corporation, or any sale or other transfer of a majority of the partnership interests in the Tenant, if Tenant is a partnership, shall be further subject to and conditioned upon the following: (1) at the time of any proposed subletting or assignment, Tenant shall not be in default under any of the terms, provisions or conditions an assignment for purposes of this Lease; and (ii) Article 13. 1. As used in this Article 13.1 the sublessee or assignee term "Tenant" shall occupy only the Premises and conduct its business in accordance with the Permitted Use; and (iii) also mean any entity that if the rents charges or other sums required to be paid by such sublessee or assignee exceed the rents, charges or other sums reserved hereunder, then Tenant shall pay to Landlord monthly the entire amount of such excess, which shall be deemed Additional Rent, and (iv) prior to occupancy, Tenant and its assignee or sublessee shall execute, acknowledge and deliver to Landlord a fully executed counterpart of a written assignment of lease or sublease, as the case may be (consented to by any guarantor of this Lease), by the terms of which: (x) in case of an assignment, Tenant will assign to such assignee has guaranteed Tenant's entire interest in obligations under this Lease, together with any Security Deposit, and all prepaid rents hereunder, and the assignee will accept said assignment and assume and agree prohibition hereof shall be applicable to perform as the obligation of such assignee directly to and for the benefit of Landlord and enforceable by Landlord, all any sales or transfers of the terms, covenants and conditions stock or partnership interests of this Lease on Tenant's part to be performed; or (y) in case of a subletting, the sublease in all respects will be subject and subordinate to all of the terms, covenants and conditions of this Lease and the sublessee thereunder will agree to be bound by and to perform all of the terms, covenants and conditions of this Lease on Tenant's part to be performed, except the payment of rents, charges and other sums reserved hereunder, which Tenant shall continue to be obligated to pay and shall pay to Landlord; and (v) notwithstanding any such assignment or subletting under the terms of this Paragraph, both Tenant and any guarantor will acknowledge that, notwithstanding any such assignment or subletting and the consent of Landlord thereto, neither Tenant nor said guarantor, if any, is released or discharged from any liability whatsoever under this Lease and both shall continue liable with the same force (vi) Tenant shall pay to Landlord the sum of One Thousand Dollars ($1,000.00) to cover Landlord's administrative costs, overhead and attorneys' fees in connection with such assignment or subletting.