Common use of Assignments or Subleases Clause in Contracts

Assignments or Subleases. The Tenant shall not assign, convey, transfer or sublease all or any portion of the Leased Premises or any portion of the improvements owned by Tenant without first obtaining the prior written approval of the City, which approval shall not be unreasonably withheld, conditioned or unduly delayed. The City’s consent to one assignment, transfer or sublease shall not constitute consent to any other such conveyances. Notwithstanding the above, this Lease shall not be transferable by assignment, merger or sale to any successor entity without express advance written consent by the City, which consent shall not be unreasonably withheld. Subject to Article 11.1, Tenant and its shareholders or members may assign or convey shares or financial interests within its business organization so long as such transactions do not have a negative impact on Tenant’s viability as a business organization or fulfillment of its obligations under this Lease. All assignments, conveyances, transfers or subleases shall be subordinate to and governed by the terms of this Lease.

Assignments or Subleases. The Tenant shall not assign, convey, transfer or sublease (hereinafter collectively or individually referred to as “conveyance”) all or any portion of the Leased Premises or any portion of the improvements owned by Tenant without first obtaining the prior written approval of the City, which approval shall not be unreasonably withheld, conditioned or unduly delayed. The City’s consent to one assignment, transfer or sublease conveyance shall not constitute consent to any other such conveyances. Notwithstanding the above, this Lease shall not be transferable by assignment, merger or sale to any successor entity without express advance written consent by the City, which consent shall not be unreasonably withheld. Subject to Article 11.1, Tenant and its shareholders or members may assign or convey shares or financial interests within its business organization so long as such transactions do not have a negative impact on Tenant’s viability as a business organization or fulfillment of its obligations under this Lease. All assignments, conveyances, transfers conveyances of any interest in the Leased Premises or subleases any portion of the improvements owned by Tenant shall be subordinate to and governed by the terms of this LeaseLease and the procedures in this Article below.