Common use of No Assignment, Subletting or Other Transfer Clause in Contracts

No Assignment, Subletting or Other Transfer. Tenant shall not assign this Lease or any interest hereunder, nor shall Tenant sublet or permit the use or occupancy of the Premises or any part thereof by anyone other than Tenant, without the express prior written consent of Landlord which consent shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, so long as Tenant is not in default hereunder, Tenant may, upon written notice to Landlord, (i) assign this Lease to an affiliate or (ii) sublease any unimproved portion of the Land for agricultural purposes subject to compliance with all Legal Requirements and Reciprocal Easement Agreements. An "affiliate", as such term is used herein shall mean an entity which owns or is owned by Tenant. No assignment or subletting shall relieve Tenant of its obligations hereunder, and Tenant shall continue to be liable as a principal and not as a guarantor or surety, to the same extent as though no assignment or sublease had been made, unless specifically provided to the contrary in Landlord's consent. Consent by Landlord pursuant to this Article shall not be deemed, construed or held to be consent to any additional assignment or subletting, but each successive act shall require similar consent of Landlord. Landlord shall be reimbursed by Tenant for any reasonable out-of-pocket costs or expenses incurred pursuant to any request by Tenant for consent to any such assignment or subletting. In the consideration of the granting or denying of consent, Landlord may, at its option, take into consideration: (i) the business reputation and credit worthiness of the proposed subtenant or assignee; (ii) any required alteration of the Premises; (iii) the intended use of the Premises by the proposed subtenant or assignee; and (iv) any other factors which Landlord shall reasonably deem relevant.

Appears in 1 contract

Sources: Industrial Building Lease (Factory Card Outlet Corp)

No Assignment, Subletting or Other Transfer. Tenant shall not assign this Lease or any interest hereunder, nor shall Tenant sublet or permit the use or occupancy of the Premises or any part thereof by anyone other than Tenant, without the express prior written consent of Landlord which consent shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, so long as Tenant is not in default hereunder, Tenant may, upon written notice to Landlord, (i) assign this Lease to an affiliate or (ii) sublease any unimproved portion of the Land for agricultural purposes subject to compliance with all Legal Requirements and Reciprocal Easement Agreements. An "affiliate", as such term is used herein shall mean an entity which owns or is owned by Tenant. No assignment or subletting shall relieve Tenant of its obligations hereunder, and Tenant shall continue to be liable as a principal and not as a guarantor or surety, to the same extent as though no assignment or sublease had been made, unless specifically provided to the contrary in Landlord's ’s consent. Consent by Landlord pursuant to this Article shall not be deemed, construed or held to be consent to any additional assignment or subletting, but each successive act shall require similar consent of Landlord. Landlord shall be reimbursed by Tenant for any reasonable out-of-pocket costs or expenses incurred pursuant to any request by Tenant for consent to any such assignment or subletting. In the consideration of the granting or denying of consent, Landlord may, at its option, take into consideration: (i) the business reputation and credit worthiness of the proposed subtenant or assignee; (ii) any required alteration of the Premises; (iii) the intended use of the Premises by the proposed subtenant or assignee; and (iv) any other factors which Landlord shall reasonably deem relevant.

Appears in 1 contract

Sources: Industrial Building Lease (Factory Card & Party Outlet Corp)

No Assignment, Subletting or Other Transfer. Tenant shall not assign this Lease or any interest hereunder, nor shall Tenant sublet or permit the use or occupancy of the Premises or any part thereof by anyone other than Tenant, without the express prior written consent of Landlord which consent shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, so long as Tenant is not in default hereunder, Tenant may, upon written notice to Landlord, (i) assign this Lease to an affiliate or (ii) sublease any unimproved portion of the Land for agricultural purposes subject to compliance with all Legal Requirements and Reciprocal Easement Agreements. An "affiliate", as such term is used herein shall mean an entity which owns or is owned by Tenant. No assignment or subletting shall relieve Tenant of its obligations hereunder, and Tenant shall continue to be liable as a principal and not as a guarantor or surety, to the same extent as though no assignment or sublease had been made, unless specifically provided to the contrary in Landlord's consent. Consent by Landlord pursuant to this Article shall not be deemed, construed or held to be consent to any additional assignment or subletting, but each successive act shall require similar consent of Landlord. Landlord shall be reimbursed by Tenant for any reasonable out-of-pocket costs or expenses incurred pursuant to any request by Tenant for consent to any such assignment or subletting. In the consideration of the granting or denying of consent, Landlord may, at its option, take into consideration: (i) the business reputation and credit worthiness of the proposed subtenant or assignee; (ii) any required alteration of the Premises; (iii) the intended use of the Premises by the proposed subtenant or assignee; and (iv) any other factors which Landlord shall reasonably deem relevant. Notwithstanding the foregoing, Tenant may assign this Lease or sublet the Premises to any subsidiary or affiliated corporation, provided that Tenant gives Landlord at least thirty (30) days' prior written notice of such assignment or subletting, and further provided that Tenant shall continue to be liable as a principal under the Lease and not as a guarantor or surety, to the same extent as though no assignment or sublease had been made. Further, notwithstanding the foregoing, Landlord hereby approves a sublease of a portion of the Premises to PTS Labs, L.L.C., an Illinois limited liability company ("PTS"), provided that Tenant shall continue to be liable as principal under the Lease and not as a guarantor or surety, to the same extent as if such Sublease had not been made and Tenant provides Landlord with a copy of the sublease agreement promptly after execution.

Appears in 1 contract

Sources: Industrial Building Lease (Stericycle Inc)

No Assignment, Subletting or Other Transfer. Without the prior ------------------------------------------- written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed, Tenant shall not assign (i) assign, transfer, mortgage, pledge, hypothecate or encumber or subject to or permit to exist upon or be subjected to any lien or charge, this Lease or any interest hereunderunder it, nor shall Tenant (ii) allow to exist, or occur, any transfer of, or lien upon, this Lease or the Tenant's interest herein by operation of law or otherwise, (iii) sublet the Premises or any part thereof, or (iv) permit the use or occupancy of the Premises or any part thereof for any purpose not provided for under Section 3.1 of this Lease or by anyone other than the Tenant. Notwithstanding the foregoing, Tenant shall have the right to assign or sublet its interest under this Lease, without the express prior written consent of Landlord which consent (but with at least thirty (30) days' prior written notice to Landlord except that with respect to subleases to "an affiliate of Tenant," Tenant shall not be unreasonably withheld required to deliver such advanced notice, but Tenant agrees to endeavor to give such advance notice), to (a) an "affiliate of Tenant," and (b) any other corporation or delayed. Notwithstanding the foregoing, so long as entity which merges or consolidates with Tenant is not in default hereunder, Tenant may, upon written notice to Landlord, (i) assign this Lease to an affiliate or (ii) sublease any unimproved portion otherwise acquires all or substantially all of the Land for agricultural purposes subject to compliance with all Legal Requirements and Reciprocal Easement Agreementsstock of Tenant. An "affiliate"affiliate of Tenant" is any corporation which controls, as such term is used herein shall mean an entity which owns controlled by, or is owned by Tenantunder common control with Tenant or divine interVentures, inc., a Delaware corporation (hereinafter referred to as the "Guarantor"). No assignment or subletting shall relieve Tenant of its obligations hereunderFurther, and Tenant shall continue to be liable as a principal and not as a guarantor or surety, to in the same extent as though no assignment or sublease had been made, unless specifically provided to the contrary in Landlord's consent. Consent by Landlord pursuant to this Article shall not be deemed, construed or held to be consent to any additional assignment or subletting, but each successive act shall require similar consent of Landlord. event Landlord shall be reimbursed by Tenant for any reasonable out-of-pocket costs fail to deliver its consent or expenses incurred pursuant to rejection of any request by Tenant for of a transfer hereunder which requires Landlord's consent thereto within twenty (20) days following Tenant's request therefor and the delivery of a Reminder Notice after such twenty (20) days, then Landlord shall be deemed to have delivered its consent to any such assignment or subletting. In the consideration transfer twenty (20) days after Landlord's receipt of the granting or denying of consent, Landlord may, at its option, take into consideration: (i) the business reputation and credit worthiness of the proposed subtenant or assignee; (ii) any required alteration of the Premises; (iii) the intended use of the Premises by the proposed subtenant or assignee; and (iv) any other factors which Landlord shall reasonably deem relevantReminder Notice.

Appears in 1 contract

Sources: Lease (Divine Interventures Inc)