Lessee’s Transfer Right Clause Samples

Lessee’s Transfer Right. Except as provided in Article 18 and Article 19, Lessee shall not Transfer this Lease or the Leasehold Estate, whether or not to an Affiliate, without the prior written consent of Lessor, which consent shall not be unreasonably withheld, conditioned, or delayed. To the extent that ▇▇▇▇▇▇’s consent is required under the terms of this Section 17.1 in connection with the transfer of this Lease or the Leasehold Estate by ▇▇▇▇▇▇, Lessee hereby acknowledges and agrees that the consent of Lessor to the transfer of this Lease or the Leasehold Estate shall be obtained prior to requesting HUD’s consent to such transfer, provided however, that if HUD’s consent to such transfer is conditioned, Lessee shall have the obligation to obtain Lessor’s consent to the condition. Lessee agrees, however, that it shall be conclusively presumed to be reasonable for Lessor to withhold its consent unless the following have occurred: (A) Lessor’s receipt of reasonably satisfactory evidence that: (i) Lessee is not in Default under this Lease or, if Lessee is in Default, that the transferee undertakes to cure any such Default to the reasonable satisfaction of Lessor; (ii) the continued operation of the Premises after the Transfer shall comply with the provisions of this Lease; (iii) the transferee has the financial capability and resources to operate and maintain the Premises as required by this Lease; (iv) either (a) the transferee or its property manager has the experience, reputation, managerial and operational skills to operate and maintain the Premises, (b) the transferee agrees to retain a property manager with the skills, experience and record described in clause (a) above, effective as of the date of the Transfer, or (c) the transferor Lessee or its property manager will continue to manage the Premises, or another property management company reasonably acceptable to Lessor will manage the Premises, for at least one year following the Transfer;