Common use of Assignments and Encumbrances Clause in Contracts

Assignments and Encumbrances. ‌‌ 16.1. Assignments‌‌ The Lessee may not effectuate an Assignment or Sublease of this Lease, in whole or in part, or grant any right, interest, privilege, or license whatsoever in connection with this Lease, without the Lessor’s prior written approval. The Lessor may, but is not obligated to, approve or disapprove a requested Assignment or Sublease. In no event, however, will the Lessor approve an Assignment or Sublease unless the Lessor has determined that the proposed assignee or Sublessee is financially and managerially capable of carrying out the terms of this Lease.‌ The Lessor may assign this Lease or any or all of its rights or obligations under this Lease at any time.‌ 16.2. Encumbrances‌‌ The Lessee may not effectuate an Encumbrance on the Premises without the Lessor’s prior written approval. The Lessor may, but is not obligated to, approve or disapprove any requested Encumbrance. In‌ no event, however, will the Lessor approve an Encumbrance unless the Lessor has determined that the Encumbrance only grants its holder, in the event of a foreclosure, the right to assume the Lessee’s responsibilities under this Lease or to select a qualified new lessee, subject to the Lessor’s written approval, and that it does not purport to grant its holder any rights to alter or amend the Lease’s terms or conditions.‌

Assignments and Encumbrances. ‌‌ 16.115.1. Assignments‌‌ The Lessee may not effectuate an Assignment or Sublease of this Lease, in whole or in part, or grant any right, interest, privilege, or license whatsoever in connection with this Lease, without the Lessor’s prior written approval. The Lessor may, but is not obligated to, approve or disapprove a requested Assignment or Sublease. In no event, however, will the Lessor approve an Assignment or Sublease unless the Lessor has determined that the proposed assignee or Sublessee is financially and managerially capable of carrying out the terms of this Lease.‌ The Lessor may assign this Lease or any or all of its rights or obligations under this Lease at any time.‌ 16.215.2. Encumbrances‌‌ The Lessee may not effectuate an Encumbrance on the Premises without the Lessor’s prior written approval. The Lessor may, but is not obligated to, approve or disapprove any requested Encumbrance. In‌ In no event, however, will the Lessor approve an Encumbrance unless the Lessor has determined that the Encumbrance only grants its holder, in the event of a foreclosure, the right to assume the Lessee’s responsibilities under this Lease or to select a qualified new lessee, subject to the Lessor’s written approval, and that it does not purport to grant its holder any rights to alter or amend the Lease’s terms or conditions.‌