Common use of Conditions of Assignment Clause in Contracts

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 2 contracts

Sources: Commercial Lease (Teraforce Technology Corp), Commercial Lease (Intelect Communications Systems LTD)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen seven (157) business days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor all Landlord one-half (1/2) of such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, subject to the limitations set forth in its sole and absolute discretion and judgmentSection 9.2 above, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Landlord shall, upon Tenant's request, provide the reasons for any refusal. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 2 contracts

Sources: Lease (Fair Isaac & Company Inc), Lease (Fair Isaac & Company Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 aboveWith the exception of a Permitted Assignment, if Lessee Tenant desires to assign or sublet all or any part of the leased premises, Leased Premises it shall must so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee subtenant or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen (15) days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor shall have Landlord is entitled to exercise any of the following options: : (1) consent to the proposed assignment or sublease, pursuant to a Consent Agreement on a form approved by Landlord in its reasonable discretion, and, if the rent due and payable by any assignee or sublessee subtenant under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor all Landlord one-half (1/2) of such excess rent and other excess consideration within ten days following immediately upon receipt thereof by Lessee: Tenant, or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall will be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence If Landlord exercises option (1) above, and thereafter an Event of an event of defaultDefault occurs, if all or any part of the leased premises are then assigned or subletLandlord, Lessor in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee subtenant all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any Tenant agrees that any collect collection directly by Lessor Landlord from the assignee or sublessee shall subtenant may not be construed to constitute as, or constitute, a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease. As a condition to a request for Landlord’s review of any assignment or sublease, Tenant must pay Landlord all legal fees and expenses incurred by Landlord in connection with the review by Landlord of Tenant’s requested assignment or sublease together with any legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease within thirty (30) days of demand with supporting documentation for payment thereof.

Appears in 2 contracts

Sources: Commercial Lease (Oxford Immunotec Global PLC), Commercial Lease (Oxford Immunotec Global PLC)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, in its sole and absolute discretion and judgmentwith reasonable judgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 2 contracts

Sources: Assignment of Lease (Digital River Inc /De), Lease (Intranet Solutions Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises or grant any license, concession or other right of occupancy of any portion of the Leased Premises, it shall must so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall must provide Lessor with a copy of the proposed assignment or of sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's ’s receipt of Lessee's ’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have may, in its reasonable discretion, either: (i) cancel this Lease as to (a) the following options: Leased Premises or (1b) that portion thereof proposed to be assigned or sublet at Lessor’s option; (ii) consent to the proposed assignment or sublease, pursuant to a Consent Agreement on a form approved by Lessor in its reasonable discretion, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident theretothereto that relates to the subject space or this Lease) exceeds the rent payable under this Lease for such spacespace plus all costs reasonably incurred by Lessee in negotiating the transaction and preparing the space for the assignee or sublessee, Lessee shall pay to Lessor 50% of all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: Lessee or (2iii) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be is deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of defaultEvent Of Default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any Lessee agrees that any collection directly by Lessor from the assignee or sublessee shall is not be construed intended to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. As a condition to Lessor’s review of any assignment or sublease, Lessee must deliver to Lessor a non refundable fee of $500.00 to defer Lessor’s administrative costs with respect thereto. In addition, all legal fees and expenses incurred by Lessor in connection with the review by Lessor of Lessee’s requested assignment or sublease together with any legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease, up to a maximum of an additional $500.00, are the responsibility of Lessee and must be paid by Lessee within live (5) days of demand for payment thereof.

Appears in 2 contracts

Sources: Sublease (Gevo, Inc.), Sublease (Gevo, Inc.)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesLeased Premises to an unaffiliated entity, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1a) cancel this Lease as to the Leased Premises or portion thereof proposed to be assigned or sublet; (b) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (sublease, or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) thereto after Tenant first recoups its out of pocket leasing costs in connection with the assignment or sublease, exceeds the rent Rent payable under this the Lease for such space, Lessee Tenant shall pay to Lessor Landlord fifty percent (50%) of all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant, or (2c) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents rent becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Leased Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 2 contracts

Sources: Office Lease (Interface Security Systems, L.L.C.), Office Lease (Interface Security Systems Holdings Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises or grant any license, concession or other right of occupancy of any portion of the Leased Premises, it shall must so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease; provided, however, Lessee is permitted to sublet all or any part of the Leased Premises to ▇▇▇▇▇▇▇ Optics, Inc., or Optical Regen, Inc., with which it has a working relationship, without the prior written consent of Lessor. Lessee shall must provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's ’s receipt of Lessee's ’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: may, in its sole and absolute discretion, either: (1i) consent to the proposed assignment or sublease, pursuant to a Consent Agreement on a form approved by Lessor in its sole discretion, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (2ii) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be is deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any Lessee agrees that any collection directly by Lessor from the assignee or sublessee shall is not be construed intended to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. As a condition to Lessor’s review of any assignment or sublease, Lessee must deliver to Lessor a non-refundable fee of $500.00 to defer Lessor’s administrative costs with respect thereto. In addition, all legal fees and expenses, not to exceed $1,000, incurred by Lessor in connection with the review by Lessor of Lessee’s requested assignment or sublease together with any legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease, are the responsibility of Lessee and must be paid by Lessee within five (5) days of demand for payment thereof.

Appears in 2 contracts

Sources: Commercial Lease (Xtera Communications, Inc.), Commercial Lease (Xtera Communications, Inc.)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises, it Lessee shall so notify Lessor at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall submit to Lessor a non-refundable processing fee of $300.00 for each such requests and shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, to include a non-refundable processing fee, Lessor shall have the following options: : (1) to cancel this Lease as to the Leased Premises or portion thereof proposed to be assigned or sublet; (2) to consent to the proposed assignment or sublease, and, if the rent rental due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the base rent and additional rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: ; or (23) to refuse, in the exercise of its sole good faith and absolute discretion and judgmentreasonable judgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an any event of default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises Leased Premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (New Era of Networks Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options:judgments (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor all Landlord one-half (1/2) of such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, subject to the limitations set forth in its sole and absolute discretion and judgmentSection 9.2 above, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Landlord shall, upon Tenant's request, provide the reasons for any refusal. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease (Fair Isaac & Company Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it Lessee shall so notify Lessor at least thirty fifteen (15) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen ten (1510) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (2) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. The terms of this section 9.03 shall not apply to an assignment or subletting to a Related Party.

Appears in 1 contract

Sources: Commercial Lease (Gulfstream Aerospace Corp)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments judgements as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, . Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute reasonable [interlineated text] discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly directly, by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Commercial Lease (Microtune Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow allow, Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, sublease which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly directly, by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Learningstar Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection collections directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Delphax Technologies Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or OR any part of the leased premises, it shall so notify Lessor Lessor, in writing, at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments judgements as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgmentjudgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by lawLaw, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Office Showroom/Warehouse Commercial Lease (Bollinger Industries Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments the (1) cancel this Lease as to the financial condition, reputation, operations and general desirability of the Premises or portion thereof proposed sublessee to be assign or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options:sublet; (12) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned assig nod or sublet, Lessor Landlord, in addition to any other remedies remedy's provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Insignia Systems Inc/Mn)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 abovewith respect to a Permitted Transfer, if Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's ’s receipt of Lessee's ’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: : (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal to consent shall not be made unreasonably and shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwiseotherwise within said fifteen (15) day period. Upon the occurrence of an event of defaultdefault (after passage of all applicable notice and cure periods), if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by any law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Radiant Systems Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee desires to assign or sublet all or any part All of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires following conditions automatically apply to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed each assignment of sublease this Lease to a Permitted Assignee: (a) Lessee must execute, have acknowledged and all required information concerning deliver to Authority and cause the proposed sublessee or assigneePermitted Assignee to execute, Lessor shall have the following optionsacknowledged and deliver to Authority, an instrument in form and substance reasonably acceptable to Authority in which: (1) consent The Lessee assigns this Lease Agreement to the proposed assignment or sublease, and, if Permitted Assignee and the rent due Permitted Assignee adopts this Lease Agreement and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination assumes and agrees to perform all of the rent payable obligations of Lessee hereunder; and (2) The Permitted Assignee agrees to use and occupy the Leased Premises solely for the Permitted Uses under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under Section 2.02 and otherwise in strict accordance with this Lease for such space, Agreement. (b) Lessee must deliver to Authority a copy of all instruments executed by Lessee and the Permitted Assignee in connection with the assignment. (c) Lessee shall pay or cause to Lessor be paid to Authority, at the time of the execution and delivery of the documents described in Section 13.03(a), Authority’s actual out of pocket reasonable legal costs incurred in connection with the assignment. (d) Except as provided in Section 13.02, Lessee and each guarantor of this Lease (each a “Guarantor”) must execute, have acknowledged and deliver to Authority an instrument in which Lessee and each Guarantor agrees that, notwithstanding the assignment of this Lease Agreement, Lessee and each Guarantor shall remain directly and primarily liable for the performance of all such excess rent the obligations of Lessee hereunder (including, without limitation, the obligation to pay all Lease Payments), and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal Authority shall be deemed permitted to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of defaultenforce this Lease Agreement against Lessee, if all or any part Guarantor, or the Permitted Assignee, or all of the leased premises are then assigned them, without prior demand upon or sublet, Lessor proceeding in addition to any way against any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this LeasePersons.

Appears in 1 contract

Sources: Lease Agreement

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee sublease, or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, and if the rent Rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent Rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent Rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent Rent and other excess consideration within ten days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute reasonable discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwiseotherwise within 10 days. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties property on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Office Lease (V2K International Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refusealthough such consent shall not he unreasonably withheld, in its sole and absolute discretion and judgment, Landlord may refuse to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection collections directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Atmi Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to ot make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, condition reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or of sublease, and Lessor shall Landlord shall have a security interest in all properties on the leased premises to Premises ot secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Thermoview Industries Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty fifteen (15) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen five (155) days after Lessor▇▇▇▇▇▇▇▇'s receipt of Lessee▇▇▇▇▇▇'s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: ▇▇▇▇▇▇; or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Xata Corp /Mn/)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Sublessee desires to assign or sublet all or any part of the leased premisesPremise, it shall so notify Lessor Sublessor at least thirty (30) days in advance of the date on which Lessee Sublessee desires to make such assignment or sublease. Lessee Sublessee shall provide Lessor Sublessor with a copy of the proposed assignment or sublease and such information as Lessor Sublessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor Sublessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's Sublessor’s receipt of Lessee's Sublessee’s proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Sublessor shall have the following options: : (1i) consent to the proposed assignment or sublease, andwhich consent shall not be unreasonably withheld, if the rent due and payable by any assignee conditioned or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: delayed; or (2ii) refuse, in its sole and absolute reasonable discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Sublessor gives Lessee Sublessee written notice providing otherwise. Upon Notwithstanding the occurrence of an event of defaultforegoing, if all or any part of the leased premises are then assigned or sublet, Lessor in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor Sublessee shall have a security interest in all properties on the leased premises right, without Sublessor’s consent, to secure payment of such sums. Any collection directly by Lessor from sublet the assignee Subleased Premises or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of assign its obligations rights under this LeaseSublease to Sublessee’s parent company or to a subsidiary or affiliate controlled by Sublessee or its parent company (each a “Subsidiary”) provided Sublessee provides the notice required above and provides such information about the entity as Sublessor may reasonably require.

Appears in 1 contract

Sources: Asset Purchase Agreement (Hurco Companies Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration therefore or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all fifty percent (50%) such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute reasonable discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee subtenant all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee subtenant shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (SPR Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. As a condition to Lessor's review of any assignment or sublease, Lessee shall deliver to Lessor a non-refundable fee of $500.00 to defer Lessor's administrative costs with respect thereto. In addition, all legal fees and expenses incurred by Lessor in connection with the review by Lessor of Lessee's requested assignment or sublease together with any legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease, shall be the responsibility of Lessee and shall be paid by Lessee within five (5) days of demand for payment thereof.

Appears in 1 contract

Sources: Commercial Lease (Techdyne Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as Any Assignment by Tenant is subject to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following optionsfollowing: (1i) consent to The terms of this Lease; (ii) The continuing liability of Tenant for all Lease obligations; (iii) If Tenant receives any consideration under the proposed assignment or sublease, and, if Assignment in excess of the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease Base Rent (or the pro rata share of Base Rent in the case of a combination sublease of a portion of the rent payable under Premises), then the payment by Tenant to Landlord, as Rent, of fifty percent (50%) of such assignment or sublease plus excess received by Tenant after the payment of reasonable leasing commissions, any bonus or necessary improvement allowances granted by Tenant (subject to Paragraph 10), and any other consideration or any payment incident theretoactual costs reasonably and necessarily incurred by Tenant in connection with the Assignment, such to be amortized over the Assignment term; (iv) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event a Tenant Default under Paragraph 25(a)(i), the right of default, if all or any part of the leased premises are then assigned or sublet, Lessor in addition Landlord to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee Assignee all rents Rent becoming due to Lessee Tenant by reason of the assignment or subleaseAssignment, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee which shall not be construed to constitute be a novation or a release of Lessee or any guarantor Tenant from the further performance of its obligations under this Lease; (v) If a Tenant Default exists and Landlord terminates this Lease, the right of Landlord to require such Assignee to attorn to Landlord as if Landlord were the landlord under the sublease; (vi) Landlord’s execution of an Assignment consent form; and (vii) The delivery by Tenant to Landlord, promptly after execution, of an executed copy of the Assignment executed by Tenant and the Assignee. Notwithstanding any Assignment, Tenant and any guarantor of Tenant’s obligations under the Lease shall at all times remain fully responsible and liable for the payment of the Rent herein specified and for the performance of and compliance with all of the other obligations and duties of the “Tenant” under this Lease (even if future Assignments occur subsequent to the assignment or subletting by Tenant, and regardless of whether or not Tenant’s approval has been obtained for such future Assignments). Any assignee of Tenant’s rights under this Lease shall be deemed to have assumed each and every of Tenant’s duties, liabilities and obligations hereunder, though Tenant is not thereby released. Lastly, there may be no partial Assignments (other than any sublease that is a Permitted Assignment or as is described in subparagraph (e) below).

Appears in 1 contract

Sources: Lease Agreement (Accuro Healthcare Solutions, Inc.)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premises, Leased Premises it shall must so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee subtenant or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor shall have Landlord is entitled to exercise any of the following options: : (1) consent to the proposed assignment or sublease, pursuant to a Consent Agreement on a form approved by Landlord in its reasonable discretion, and, if the rent due and payable by any assignee or sublessee subtenant under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor all Landlord fifty percent (50%) of such excess rent and other excess consideration within ten days following immediately upon receipt thereof by Lessee: Tenant, after deducting therefrom all costs and expenses incurred by Tenant in connection with such assignment or sublease, or (2) refuse, in its sole and absolute reasonable discretion and judgment, to consent to the proposed assignment or sublease. If Landlord exercises option (I) above, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence and thereafter an Event of an event of defaultDefault occurs, if all or any part of the leased premises are then assigned or subletLandlord, Lessor in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee subtenant all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have Landlord will be entitled to a security interest in all properties property located on the leased premises Leased Premises to secure payment of such sums. Any Tenant agrees that any collection directly by Lessor Landlord from the assignee or sublessee shall subtenant may not be construed to constitute as, or constitute, a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease. As a condition to a request for Landlord's review of any assignment or sublease, Tenant must pay Landlord all reasonable out-of-pocket legal fees and expenses incurred by Landlord in connection with the review by Landlord of Tenant's requested assignment or sublease together with any reasonable out-of-pocket legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease within five (5) days of demand for payment thereof, provided Tenant's responsibilities for such amounts shall not exceed $1,000.

Appears in 1 contract

Sources: Commercial Lease (INX Inc)

Conditions of Assignment. Except (a) The consent of the Borrower is required for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 aboveby the Existing Lender, if Lessee desires to assign or sublet all or any part of unless the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following optionsis: (1i) consent to an Affiliate of the proposed assignment or sublease, and, Existing Lender; (ii) if the rent due Existing Lender is a fund, to a fund which is a Related Fund; or (iii) made at a time when an Event of Default has occurred and payable by any assignee or sublessee under any such permitted assignment or sublease is continuing. (or a combination b) The consent of the rent payable under such Borrower to an assignment must not be unreasonably withheld or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall delayed. The Borrower will be deemed to have been exercised given its consent five Business Days after the Existing ▇▇▇▇▇▇ has requested it unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part consent is expressly refused by that Borrower within that time. (c) The consent of the leased premises are then assigned or sublet, Lessor Borrower to an assignment must not be withheld solely because the assignment may result in addition an increase to any other remedies provided by this Lease amount payable under Clause 14.3 (Mandatory Cost). (d) If: (i) the Existing Lender assigns any of its rights or provided by law, may, obligations under the Finance Documents or changes its Facility Office; and (ii) as a result of circumstances existing at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of date the assignment or subleasechange occurs, a Transaction Obligor would be obliged to make a payment to the New Lender or the Existing Lender acting through its new Facility Office under Clause 12 (Tax Gross Up and Lessor shall Indemnities) or under that Clause as incorporated by reference or in full in any other Finance Document or Clause 13 (Increased Costs), then the New Lender or the Existing Lender acting through its new Facility Office is only entitled to receive payment under those Clauses to the same extent as the Existing Lender would have a security interest been if the assignment or change had not occurred. (e) Each Obligor on behalf of itself and each Transaction Obligor agrees that all rights and interests (present, future or contingent) which the Existing Lender has under or by virtue of the Finance Documents are assigned to the New Lender absolutely, free of any defects in all properties on the leased premises to secure payment Existing Lender’s title and of such sums. Any collection directly by Lessor from any rights or equities which the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Borrower or any guarantor from other Transaction Obligor had against the further performance of its obligations under this Lease.Existing Lender. ​

Appears in 1 contract

Sources: Term Loan Facility (Okeanis Eco Tankers Corp.)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such such. space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection collections directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor Tenant from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Enpath Medical Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) cancel this Lease as to the Premises or portion thereof proposed to be assign or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Commercial Lease (Vascular Solutions Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisespremises to an outside third party, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgmentwith reasonable cause, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.by

Appears in 1 contract

Sources: Standard Commercial Lease (Spacehab Inc \Wa\)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten 0 0) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgmentjudgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease (Vital Health Technologies Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premises, Leased Premises it shall must so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee subtenant or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor shall have Landlord is entitled to exercise any of the following options: : (1) consent to the proposed assignment or sublease, pursuant to a Consent Agreement on a form approved by Landlord in its reasonable discretion, and, if the rent due and payable by any assignee or sublessee subtenant under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor all Landlord fifty percent (50%) of such excess rent and other excess consideration within ten days following immediately upon receipt thereof by Lessee: Tenant, after deducting therefrom all costs and expenses incurred by Tenant in connection with such assignment or sublease, or (2) refuse, in its sole and absolute reasonable discretion and judgment, to consent to the proposed assignment or sublease. If Landlord exercises option (1) above, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence and thereafter an Event of an event of defaultDefault occurs, if all or any part of the leased premises are then assigned or subletLandlord, Lessor in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee subtenant all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have Landlord will be entitled to a security interest in all properties property located on the leased premises Leased Premises to secure payment of such sums. Any Tenant agrees that any collection directly by Lessor Landlord from the assignee or sublessee shall subtenant may not be construed to constitute as, or constitute, a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease. As a condition to a request for Landlord's review of any assignment or sublease, Tenant must pay Landlord all reasonable out-of-pocket legal fees and expenses incurred by Landlord in connection with the review by Landlord of Tenant's requested assignment or sublease together with any reasonable out-of-pocket legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease within five (5) days of demand for payment thereof, provided Tenant's responsibilities for such amounts shall not exceed $1,000.

Appears in 1 contract

Sources: Standard Commercial Lease (I Sector Corp)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed assignee or sublessee or assignee to allow Lessor Landlord to make informed judgments judgment, as to the financial condition, reputation, operations and general desirability of the proposed sublessee assignee or assigneesublessee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee assignee or assigneesublessee, Lessor Landlord shall have the following options: (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, and if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) net of Tenant's out-of-pocket expenses in procuring the proposed assignment or sublease exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which . Which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or our sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Gt Interactive Software Corp)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises, it shall so notify Lessor at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the Leased Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration consideration, less any reasonable expenses incurred in obtaining the assignment or sublease, within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises Leased Premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Sublease (Channelpoint Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: (1) cancel this Lease as to the Premises or portion thereof proposed to be assign or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee after recovering all direct and indirect costs associated with such assignment or Sublease, Tenant shall pay to Lessor Landlord 50% of all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Insignia Systems Inc/Mn)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. See Item #3 of Exhibit "B" attached hereto and made a part hereof.

Appears in 1 contract

Sources: Sublease Agreement (Interactive Entertainment LTD)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty seven (7) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen three (153) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee subleases or assignee, Lessor Landlord shall have the following options: (1) consent notify Tenant in writing whether it consents to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal . Refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on with any sums collected to be applied to the leased premises to secure payment of such sumsrent then or next due hereunder. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease (Stratasys Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen seven (157) business days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor all Landlord one-half (1/2) of such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, subject to the limitations set forth in its sole and absolute discretion and judgmentSection 9.2 above, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Landlord shall, upon Tenant's request, provide the reasons for any refusal. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation notation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease (Fair Isaac & Company Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises, it shall must so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall must provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee sub lessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee sub lessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee sub lessee or assignee, Lessor shall have the following options: may, in its sole and absolute discretion, either: (1) cancel this Lease as to the Leased Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, pursuant to a Consent Agreement on a form approved by Lessor in its sole discretion, and, if the rent due and payable by any assignee or sublessee sub lessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: , provided, such consent may be conditioned upon payment to Lessor of a commission upon such assignment or sublease equal to the greater of two percent (2%) of the gross rents due during the term of the sublease or remaining term of this Lease-in the case of an assignment, in either event not to exceed five years, or one-half of any commission paid to any third party broker; or (23) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be is deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee sub lessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have will be entitled to a security interest in all properties on the leased premises Leased Premises to secure payment of such sums. Any Lessee agrees that any collection directly by Lessor from the assignee or sublessee shall sub lessee is not be construed intended to constitute a novation notation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. As a condition to Lessor's review of any assignment or sublease, Lessee must deliver to Lessor a non-refundable fee of $500.00 to defer Lessor's administrative costs with respect thereto. In addition, all legal fees and expenses incurred by Lessor in connection with the review by Lessor of Lessee's requested assignment or sublease together with any legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease, are the responsibility of Lessee and must be paid by Lessee within five (5) days of demand for payment thereof.

Appears in 1 contract

Sources: Commercial Lease (American Caresouce Holdings, Inc.)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord fifty percent (50%) of all such excess rent (after reduction for reasonable expenses incurred by Tenant to procure such rent) and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgmentjudgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease (Micro Component Technology Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make Landlord tomake informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen thirty (1530) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: (: ( 1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the this assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. .. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations obligation under this Lease.

Appears in 1 contract

Sources: Lease (DJO Finance LLC)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises (except as specifically allowed in Article 9.02), it shall so notify Lessor at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's ’s receipt of Lessee's ’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) A. cancel this Lease as to the Leased Premises or portion thereof proposed to be assigned or sublet; B. consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: or (2) ; or C. refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease. As a condition to Lessor’s review of any assignment or sublease, Lessee shall deliver to Lessor a non-refundable fee of $500.00 (except as specifically allowed in Article 9.02) to defer Lessor’s administrative costs with respect thereto.

Appears in 1 contract

Sources: Commercial Lease (Mathstar Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premisesLeased Premises over 3,000 Rentable Square Feet, it Lessee shall so notify Lessor at least thirty (30) days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall submit to Lessor a non-refundable processing fee of $300.00 for each such requests and shall provide Lessor with a copy of the proposed assignment or sublease and such reasonable information as Lessor might reasonably request concerning the proposed sublessee sublease or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, to include a non-refundable processing fee, Lessor shall have the following options: (1) to cancel this Lease as to the portion thereof proposed to be assigned or subleased; (2) to consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto3) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in the exercise of its sole good faith and absolute discretion and judgmentreasonable judgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an any event of default, if all or any part of the leased premises Leased Premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises Leased Premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Commercial Lease (New Era of Networks Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises to a third party which is not a Permitted Assignee, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent rent, less Tenant's reasonable costs in completing the assignment or subletting, and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (2) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or subleasesublease if such refusal is commercially reasonable, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Fieldworks Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Bio Vascular Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow allow, Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) [omitted] (2) consent to the proposed assignment or sublease, sublease and, if the rent due and payable by any assignee assigneee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgmentjudgement, to consent conceal to the proposed assignment or sublease, sublease which refusal shall be deemed to have been exercised unless Lessor gives Lessee lessee written notice providing otherwise. Upon the occurrence of an event of default, if all any or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease case or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly directly, by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Performance Printing Corp)

Conditions of Assignment. Except for With the exception of an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 aboveto a Permitted Transferee, if Lessee Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor with Landlord With a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15fifteen(15) days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor Landlord shall have the following options: : (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or or, sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the this assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations obligation under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Cardiovascular Systems Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty twenty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent or other consideration provided by Lessee in lieu of excess rent which is attributable to rent and other excess consideration rent only within ten days following receipt thereof by Lessee: ; or (23) refuse, in its sole and absolute discretion and judgmentreasonable discretion, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Commercial Lease (Styrochem International LTD)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's receipt of Lessee's proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) consent to the proposed assignment or of sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, reasonable determination to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part party of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease lease or provided by law, law may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or of sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Office Lease (Vialog Corp)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments judgements as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after Lessor's ’s receipt of Lessee's ’s proposed assignment of or sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: : (1) consent to the proposed assignment or of sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuse, in its sole and absolute discretion and judgment, reasonable determination to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part party of the leased premises are then assigned or sublet, Lessor Lessor, in addition to any other remedies provided by this Lease lease or provided by law, law may, at its option, collect directly from the assignee or sublessee all rents becoming due clue to Lessee by reason of the assignment or of sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Standard Office Lease (Ptek Holdings Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premises, Leased Premises it shall must so notify Lessor Landlord at least thirty twenty (20) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee shall , and provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee subtenant or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen ten (1510) business days after Lessor's Landlord’s receipt of Lessee's Tenant’s proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor shall have Landlord is entitled to exercise any of the following options: : (1) consent to the proposed assignment or sublease, and, if pursuant to a consent agreement executed by Tenant and the rent due and payable by any proposed assignee or sublessee under any subtenant containing such permitted assignment or sublease (or terms as Landlord may require on a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such spaceform approved by Landlord in its reasonable discretion, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (2) refuserefuse if, in its sole and absolute reasonable discretion and judgment, to consent to the proposed assignment or subleasesublease is unacceptable to Landlord. Any sublease or assignment to the extent permitted hereunder, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwisenot relieve the Tenant of its liability under the provisions of this Lease. Upon Notwithstanding the occurrence preceding provisions of an event of defaultSections 9.02 and 9.03 above, if all Tenant may assign or sublet the Leased Premises, or any part of the leased premises are then assigned or subletthereof, Lessor in addition to any other remedies provided entity controlling Tenant, controlled by this Lease or provided by lawTenant, maywithout the prior written consent of Landlord; provided, at its optionhowever, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason that Tenant shall immediately provide Landlord with written notice of the any such assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease Agreement (Basanite, Inc.)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty fifteen (15) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen seven (157) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) cancel this Lease as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such spacespace after subtracting costs of procurement of sublessee, Lessee Tenant shall pay to Lessor all Landlord half (1/2) of such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refuse, in its sole and absolute with reasonable discretion and judgmentjudgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor gives Lessee written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Lease (Norstan Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor Landlord at least thirty days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee subtenant or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee subtenant under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: Tenant; or (2) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee subtenant all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection collection, directly by Lessor Landlord from the assignee or sublessee subtenant, shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease. As a condition to the review of any assignment or sublease, Tenant shall deliver to Landlord or Landlord's manager, as the case may be, a non-refundable fee of $500.00 to defray the administrative costs with respect thereto. In addition, all legal fees and expenses incurred by Landlord or its manager in connection with the review of Tenant's requested assignment or sublease together with any legal fees and disbursements incurred in the preparation and/or review of any documentation required by the requested assignment or sublease, shall be the responsibility of Tenant and shall be paid by Tenant within five (5) days of demand for payment thereof. The non-refundable fee and legal expenses incurred as described herein will be due and payable regardless of whether or not Landlord approves the assignment or sublease as requested by Tenant.

Appears in 1 contract

Sources: Standard Retail Lease (Back Yard Burgers Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 aboveIf Tenant desires, if Lessee desires to assign or sublet ------------------------ all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or sublease. Lessee At the time Tenant submits such a request, Tenant shall pay to Landlord, Landlord's then standard processing fee and shall reimburse Landlord for all legal fees incurred in connection with Tenant's request. Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee subtenant or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of or sublease and all required information concerning the proposed sublessee subtenant or assignee, Lessor Landlord shall have the following options: : (1) cancel this Agreement as to the Premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease Agreement for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by Lessee: Tenant; or (23) refusesubject to the provisions of Section 9.02, in its sole and absolute discretion and judgment, refuse to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon In the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor in addition to any other remedies provided by this Lease or provided by law, Landlord may, at its option, collect directly from the assignee or sublessee subtenant all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee subtenant shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this LeaseAgreement. No assignment of this Agreement consented to by Landlord shall be effective until Landlord shall receive an original assumption agreement, in form and substance satisfactory to Landlord, signed by Tenant and Tenant's assignee.

Appears in 1 contract

Sources: Standard Tenancy Agreement (Argosy Education Group Inc)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if Lessee If Tenant desires to assign or sublet all or any part of the leased premisesPremises, it shall so notify Lessor Landlord at least thirty (30) days in advance of the date on which Lessee Tenant desires to make such assignment or of sublease. Lessee Tenant shall provide Lessor Landlord with a copy of the proposed assignment or sublease and such information as Lessor Landlord might reasonably request concerning the proposed sublessee or assignee to allow Lessor Landlord to make informed judgments as to the financial condition, condition reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen (15) days after LessorLandlord's receipt of LesseeTenant's proposed assignment of sublease and all required information concerning the proposed sublessee sublease or assignee, Lessor Landlord shall have the following options: (1) consent to the proposed assignment or of sublease, and, and if the rent due and payable by any assignee or sublessee under any such permitted assignment or of sublease (or a combination of the rent payable under such assignment or of sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee Tenant shall pay to Lessor Landlord all such excess rent and other excess consideration within ten (10) days following receipt thereof by LesseeTenant: or (2) refuse, in its sole and absolute discretion and judgmentwith reasonable judgement, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless Lessor Landlord gives Lessee Tenant written notice providing otherwise. Upon the occurrence of an event of default, if all or any part of the leased premises Premises are then assigned or sublet, Lessor Landlord, in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee Tenant by reason of the assignment or sublease, and Lessor Landlord shall have a security interest in all properties on the leased premises Premises to secure payment of such sums. Any collection directly by Lessor Landlord from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee Tenant or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Consent to Assignment and Assumption of Lease (Digital River Inc /De)

Conditions of Assignment. Except for an assignment or sublease not requiring Lessor's prior approval as described in Paragraph 9.02 above, if If Lessee desires to assign or sublet all or any part of the leased premises, it shall so notify Lessor at least thirty days in advance of the date on which Lessee desires to make such assignment or sublease. Lessee shall provide Lessor with a copy of the proposed assignment or sublease and such information as Lessor might reasonably request concerning the proposed sublessee or assignee to allow Lessor to make informed judgments as to the financial condition, reputation, operations and general desirability of the proposed sublessee or assignee. Within fifteen five (155) days after Lessor's receipt of Lessee's proposed assignment of sublease and all required information concerning the proposed sublessee or assignee, Lessor shall have the following options: (1) cancel this Lease as to the leased premises or portion thereof proposed to be assigned or sublet; (2) consent to the proposed assignment or sublease, and, if the rent due and payable by any assignee or sublessee under any such permitted assignment or sublease (or a combination of the rent payable under such assignment or sublease plus any bonus or any other consideration or any payment incident thereto) exceeds the rent payable under this Lease for such space, Lessee shall pay to Lessor all such excess rent and other excess consideration within ten days following receipt thereof by Lessee: or (23) refuse, in its sole and absolute discretion and judgment, to consent to the proposed assignment or sublease, which refusal shall be deemed to have been exercised unless ; Lessor gives will give Lessee written notice providing otherwiseof refusal within ten (10) days after receipt of all documentation. Upon the occurrence of an event of default, if all or any part of the leased premises are then assigned or sublet, Lessor in addition to any other remedies provided by this Lease or provided by law, may, at its option, collect directly from the assignee or sublessee all rents becoming due to Lessee by reason of the assignment or sublease, and Lessor shall have a security interest in all properties on the leased premises to secure payment of such sums. Any collection directly by Lessor from the assignee or sublessee shall not be construed to constitute a novation or a release of Lessee or any guarantor from the further performance of its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Allstar Systems Inc)