Deemed Assignment. 15.3.1 Where the Tenant is a corporation, any circumstances which result in any person or group of persons who: (a) control the composition of the board of directors; or (b) beneficially hold more than one half of the issued share capital, being different from the person or persons who were in that position at the Commencement Date, will be deemed to be an assignment of this lease which will require the prior written consent of the Landlord.
Appears in 6 contracts
Sources: Lease Agreement, Lease Agreement, Lease
Deemed Assignment. 15.3.1 14.2.1 Where the Tenant is a corporation, any circumstances which result in any person or group of persons who:who:‌
(a) control the composition of the board of directors; oror‌
(b) beneficially hold more than one half of the issued share capital, being different from the person or persons who were in that position at the Commencement Date, will be deemed to be an assignment of this lease which will require the prior written consent of the Landlord.
Appears in 1 contract
Sources: Lease (Land and Building)