ASSIGNMENT, MORTGAGING AND SUBLETTING Sample Clauses
The ASSIGNMENT, MORTGAGING AND SUBLETTING clause governs whether and how a tenant may transfer their lease rights or obligations to another party, use the lease as collateral, or allow others to occupy the leased premises. Typically, this clause sets out the landlord’s consent requirements for assignments or subleases, and may restrict or prohibit mortgaging the leasehold interest. Its core function is to give the landlord control over who occupies or has an interest in the property, thereby protecting the landlord’s interests and ensuring the tenant cannot unilaterally transfer their responsibilities or rights under the lease.
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ASSIGNMENT, MORTGAGING AND SUBLETTING. Subtenant shall not voluntarily assign or encumber its interest in this Sublease or in the Sublet Premises, or sublease all or any part of the Sublet Premises, or allow any other person or entity (except Subtenant’s authorized representatives) to occupy or use all or any part of the Sublet Premises, without first obtaining Sublandlord’s consent, which consent Sublandlord shall not unreasonably withhold, delay or condition. No consent to any assignment or sublease shall constitute a further waiver of the provisions of this Paragraph. Notwithstanding the foregoing, Subtenant shall have the right to assign this Sublease and/or sublet any part or all of the Sublet Premises, without the Sublandlord’s consent, to any corporation which is controlled directly or indirectly by Subtenant, or any entity (including The First American Corporation) which controls, directly or indirectly, Subtenant, or to any of Subtenant’s joint venture partner(s), partnership(s), or other affiliated entity(s), by merger, acquisition, stock purchase or otherwise or to a successor(s)-in-interest to any part or all of Subtenant’s business. Sublandlord shall respond to any Subtenant request to assign, sublease or encumber within ten (10) business days of written notice of Subtenant’s desire to enter into such assignment sublease or encumbrance. If Sublandlord elects to withhold its consent, Sublandlord shall specify in Sublandlord’s written notice to Subtenant the specific, reasonable grounds upon which Sublandlord desires to withhold such consent. If within such ten (10) business day period, Sublandlord fails to respond to Subtenant’s request or to notify Subtenant of the specific, reasonable grounds upon which it is withholding its consent, Sublandlord shall be deemed to have granted its consent to the proposed sublease, assignment or encumbrance. Subtenant shall be entitled to retain fifty (50%) percent of rent and other consideration payable in connection with any assignment or subletting provided Subtenant’s monetary obligations to Sublandlord under this Sublease continue to be satisfied.
ASSIGNMENT, MORTGAGING AND SUBLETTING. Tenant covenants and agrees that neither this Lease nor the term and estate hereby granted, nor any interest herein or therein, will be assigned, mortgaged, pledged, encumbered or otherwise transferred, and that neither the Premises, nor any part thereof will be encumbered in any manner by reason of any act or omission on the part of Tenant, or used or occupied, or utilized for desk space or for mailing privileges, by anyone other than Tenant, or for any use or purpose other than as stated herein, or be sublet or offered or advertised for subletting, without the prior written consent of Landlord, which consent may not be unreasonably withheld or delayed. Not in limitation of the foregoing, Tenant's request for Landlord's consent to subletting or assignment shall be submitted in writing no later than sixty (60) days in advance of the proposed effective date of such proposed assignment or sublease, which request shall be responded to by Landlord within thirty (30) days of receipt thereof, and which request shall be accompanied by the following information (such information shall be collectively referred to as the "REQUIRED INFORMATION"): (i) the name, current address and business of the proposed assignee or sublessee; (ii) the amount and location of the space within the Premises proposed to be so subleased; (iii) the proposed effective date and duration of the assignment or subletting; and (iv) the proposed rent and other consideration to be paid to Tenant by such assignee or sublessee. Tenant also shall promptly supply Landlord with financial statements and other information as Landlord may request, prepared in accordance with generally accepted accounting principles not more than ninety (90) days old when delivered to Landlord (if available), indicating the net worth, liquidity
ASSIGNMENT, MORTGAGING AND SUBLETTING. 13.1 Landlord’s Consent Required Tenant shall not, without ▇▇▇▇▇▇▇▇’s prior written consent, which consent may be withheld in Landlord’s sole discretion, mortgage or otherwise encumber this Lease or the Premises in whole or in part. Except as expressly otherwise set forth in Section 13.7 below, Tenant shall not, without Landlord’s prior written consent, assign, sublet, license or transfer this Lease or the Premises in whole or in part whether by changes in the ownership or control of Tenant, or any direct or indirect owner of Tenant, whether at one time or at intervals, by sale or transfer of stock, partnership or beneficial interests, operation of law or otherwise, or permit the occupancy of all or any portion of the Premises by any person or entity other than Tenant’s employees (each of the foregoing, a “Transfer”). Any purported Transfer made without ▇▇▇▇▇▇▇▇’s consent, if required hereunder, shall be void and confer no rights upon any third person, provided that if there is a Transfer, Landlord may collect rent from the transferee without waiving the prohibition against Transfers, accepting the transferee, or releasing Tenant from full performance under this Lease. In the event of any Transfer in violation of this Article 13, Landlord shall have the right to terminate this Lease upon thirty (30) days’ written notice to Tenant given within sixty (60) days after receipt of written notice from Tenant to Landlord of any Transfer, or within one (1) year after ▇▇▇▇▇▇▇▇ first learns of the Transfer if no notice is given. No Transfer shall relieve Tenant of its primary obligation as party Tenant hereunder, nor shall it reduce or increase Landlord’s obligations under this Lease.
ASSIGNMENT, MORTGAGING AND SUBLETTING. (a) Tenant covenants and agrees that neither this Lease nor the term and estate hereby granted, nor any interest herein or therein, will be assigned, mortgaged, pledged, encumbered or otherwise transferred, voluntarily, by operation of law or otherwise, and that neither the Premises, nor any part thereof will be encumbered in any manner by reason of any act or omission on the part of Tenant, or used or occupied, or permitted to be used or occupied, or utilized for desk space or for mailing privileges, by anyone other than Tenant, or for any use or purpose other than as stated in Exhibit 1, or be sublet, or offered or advertised for subletting, without obtaining Landlord's prior written consent, which consent may, except as set forth in this Article 16, be withheld in Landlord's sole discretion. The foregoing shall not prohibit Tenant's agents, employees, contractors, officers, directors and invitees from using the premises.
(b) The assignment or transfer of this Lease, and the term and estate hereby granted, to any business entity ("Permitted Tenant Successor") into which Tenant is merged or with which Tenant is consolidated or which acquires all or substantially all of Tenant's stock or assets, is permitted without Landlord's consent, provided that:
ASSIGNMENT, MORTGAGING AND SUBLETTING. Section 21.01 Neither this Lease nor any part hereof nor the interest of Tenant in any sublease or the rentals thereunder, shall, by operation of law or otherwise, be assigned, mortgaged, pledged, encumbered or otherwise transferred by Tenant, Tenant's
ASSIGNMENT, MORTGAGING AND SUBLETTING. Section 22.01 A. Tenant, for itself, its heirs, distributees, executors, administrators, legal representatives, successors and assigns, expressly covenants that, except as hereinafter provided in Section 22.01B. below, it shall not assign, mortgage, pledge, or otherwise encumber, all or any part of its interest in this Lease, sublet the Premises, in whole or in part, or permit the Premises or any part thereof to be used or occupied by others, without the prior written consent of Landlord in each instance; said consent not to be unreasonably withheld, conditioned or delayed. Any assignment, sublease, mortgage, pledge, encumbrance or transfer in contravention of the provisions of this Article 22 shall be void.
ASSIGNMENT, MORTGAGING AND SUBLETTING. 29 Section 13.01 Prohibition..................................................29 Section 13.02 Permitted Assignments and Subleases..........................30 Section 13.03 Procedure....................................................31 Section 13.04 Rent.........................................................33 Section 13.05 Tenant's Ongoing Liability...................................34 Section 13.06 Non-Disturbance and Attornment...............................34 Section 13.07 Certain Landlord Rights......................................34 ARTICLE 14 DAMAGE TO OR DESTRUCTION OF THE PREMISES...........................35 Section 14.01 Landlord's Obligation to Repair; Rent Abatement..............35 Section 14.02 Tenant's Right to Terminate..................................35 Section 14.03 Landlord's Right to Terminate................................35 Section 14.04
ASSIGNMENT, MORTGAGING AND SUBLETTING. 22 16.1. Landlord's Consent Required. 22 16.2. Terms and Conditions. 23 16.3. Additional Terms and Conditions Applicable to Subletting. 24 16.4. Transfer Premium from Assignment or Subletting. 24 16.5. Landlord's Option to Recapture Space. 25 16.6. Landlord's Expenses. 25 17. MISCELLANEOUS COVENANTS 26 17.1. Rules and Regulations. 26 17.2. Access to Premises-Shoring. 26 17.3. Accidents to Sanitary and Other Systems. 27 17.4. Signs, Blinds and Drapes. 27 17.5. Estoppel Certificate. 28 17.6. Hazardous Materials. 29 17.7. Medical Waste Disposal. 29 17.8. Prohibited Materials and Property. 29 17.9. Requirements of Law-Fines and Penalties. 29 17.10. Tenant's Acts-Effect on Insurance. 30 17.11.
ASSIGNMENT, MORTGAGING AND SUBLETTING. 31 ----------------------------------------------------- Section 17.1. Landlord Consent Required................................................................31 -------------- -------------------------- Section 17.2. Tenant Not Released......................................................................32 -------------- -------------------- Section 17.3. Assignment and Sublease to Affiliates....................................................32 -------------- -------------------------------------- Section 17.4. Transfer to Successor Corporation........................................................32 -------------- ---------------------------------- Section 17.5. Landlord Take Back and Consent Rights....................................................33 -------------- -------------------------------------- Section 17.6. Sharing of Profits on Take Back..........................................................34 -------------- -------------------------------- Section 17.7. Assignment/Subletting Requirements.......................................................34 -------------- ----------------------------------- Section 17.8. Landlord's Rights on Subleases...........................................................35 -------------- ------------------------------- Section 17.9.
ASSIGNMENT, MORTGAGING AND SUBLETTING. LANDLORD'S WORK; TENANT'S WORK; ALTERATIONS.......... 18 ARTICLE IX ORDINARY REPAIRS..................................... 22