Common use of Restrictions on Assignment Clause in Contracts

Restrictions on Assignment. Tenant may only assign this Lease or any interest herein, subject to the prior written consent of Landlord. Landlord shall not unreasonably withhold or delay its consent, and shall grant consent if the proposed assignee is financially equal to or stronger than Tenant and has sufficient business experience to perform all the agreements, undertakings, and covenants of this Lease and all other agreements entered into by Tenant that relate to the management, operation, maintenance, construction, and restoration of the Buildings, Improvements and the Land. To assist Landlord in determining whether or not the proposed assignee is so qualified, Tenant shall furnish to Landlord at no expense to Landlord, prior to such assignment, detailed and complete financial statements of the proposed assignee, audited by a certified public accountant reasonably satisfactory to Landlord (if the proposed transferee causes its statements to be so audited in its normal course of business), together with detailed and complete information about the business of the proposed assignee, including its business experience, the use to be made of the Land, Buildings and Improvements by the proposed assignee, projections by the proposed assignee of the sources of funds to be used to repay any indebtedness of Tenant that the proposed assignee will assume or take subject to, or agree to pay to Tenant, and other claims on and requirements for such funds, together with such other information as Landlord may reasonably require to assist Landlord in determining whether or not the proposed assignee is so qualified. Landlord shall have 30 days after receipt of the information described above to notify Tenant of whether it consents or does not consent to the proposed assignment. Absent any such notification by Landlord during said 30-day period, Landlord shall be conclusively deemed to have consented to the assignment. A consent by Landlord to one assignment shall not be deemed to be a consent to any subsequent assignment. Any assignment made contrary to the terms of this subparagraph shall be null and void unless permitted by subparagraph 11.2 below.

Restrictions on Assignment. Tenant may only will not assign this Lease in whole or in part, nor sublet all or any interest hereinpart of the Premises or enter into any license or concession agreements (collectively or individually, subject to a “Transfer”), without the prior written consent of Landlord, which consent Landlord will not unreasonably withhold. In no event may Tenant encumber or hypothecate this Lease. The consent by Landlord to any Transfer shall not unreasonably withhold constitute a waiver of the necessity for such consent to any subsequent Transfer. This prohibition against Transfers shall be construed to include a prohibition against any assignment or delay its consentsubletting by operation of law. Any attempted transfer, assignment, subletting, license or concession agreement, or hypothecation shall be void and confer no rights upon any third person and shall grant consent if be a violation of this Section. Any transfer of this Lease from Tenant by merger, consolidation, liquidation or otherwise by operation of law, including, but not limited to, an assignment for the proposed assignee is financially equal to or stronger than Tenant and has sufficient business experience to perform all benefit of creditors, shall be included in the agreements, undertakings, and covenants term “assignment” for the purposes of this Lease and all shall be a violation of this Section. If this Lease is transferred by Tenant, or if the Premises or any part thereof are transferred or occupied by any person or entity other agreements entered into than Tenant, Landlord may collect rent from the assignee, subtenant or occupant, and apply the net amount collected to the rent herein reserved, but no such Transfer, occupancy or collection shall be deemed a waiver on the part of Landlord, or the acceptance of the assignee, subtenant or occupant as Tenant, or a release of Tenant from the further performance by Tenant that relate to of covenants on the managementpart of Tenant herein contained unless expressly made in writing by Landlord. Irrespective of any Transfer, operation, maintenance, construction, Tenant shall remain fully liable under this Lease and restoration shall not be released from performing any of the Buildingsterms, Improvements covenants and conditions of this Lease. Without limiting Landlord’s right to withhold its consent on any reasonable grounds, it is agreed that Landlord will not be acting unreasonably in refusing to consent to a Transfer if, in Landlord’s opinion, (i) the Land. To assist Landlord in determining whether or not quality of the merchandising operation of the proposed assignee or subtenant is so qualified, Tenant shall furnish not equal to Landlord at no expense to Landlord, prior to such assignment, detailed and complete financial statements that of the proposed assigneeTenant, audited by a certified public accountant reasonably satisfactory to Landlord (if the proposed transferee causes its statements to be so audited in its normal course of business), together with detailed and complete information about ii) such assignee or subtenant may adversely affect (A) the business of the other tenants, (B) the tenant mix in the Shopping Center, or (C) Landlord’s ability to obtain percentage rent, (iii) the net worth and financial capabilities of such assignee or subtenant is less than that of Tenant and any of Tenant’s Guarantor(s) (if any) at the date hereof or at the time of the Transfer, REGENCY CENTERS INITIAL HERE /s/ [ILLEGIBLE] /s/ [ILLEGIBLE] whichever is greater, or (iv) the proposed assigneeTransfer involves a change of use of the Premises from that specified herein or would otherwise breach any covenant of Landlord respecting radius, including location, use or exclusivity in any other lease in the Shopping Center or any Shopping Center agreements. Notwithstanding any contrary provision of this Lease, if Tenant or any proposed Transferee claims that Landlord has unreasonably withheld or delayed its business experienceconsent to a proposed Transfer or otherwise has breached its obligations under this Section 17.1, Tenant’s and such Transferee’s only remedy shall be to seek a declaratory judgment and/or injunctive relief, and Tenant, on behalf of itself and, to the extent permitted by law, such proposed Transferee, waives all other remedies against Landlord, including, without limitation, the use right to be made seek monetary damages or to terminate this Lease. Within thirty (30) days of the Land, Buildings Landlord’s receipt of any Transfer Notice and Improvements any additional information requested by Landlord concerning the proposed assigneeTransferee’s financial responsibility, projections by the proposed assignee of the sources of funds to be used to repay any indebtedness of Tenant that the proposed assignee Landlord will assume or take subject to, or agree to pay to Tenant, and other claims on and requirements for such funds, together with such other information as Landlord may reasonably require to assist Landlord in determining whether or not the proposed assignee is so qualified. Landlord shall have 30 days after receipt of the information described above to notify Tenant of whether it consents or does not its election to do one of the following: (i) consent to the proposed assignment. Absent any Transfer subject to such notification by reasonable conditions as Landlord during said 30-day periodmay impose in providing such consent; (ii) refuse such consent, Landlord which refusal shall be conclusively deemed on reasonable grounds; or (iii) terminate this Lease as to have consented all or such portion of the Premises which is proposed to be sublet or assigned and recapture all or such portion of the assignmentPremises for reletting by Landlord. A The voluntary or other surrender of this Lease by Tenant or a mutual cancellation hereof shall not work as a merger but shall, at the option of Landlord, either terminate all or any existing subleases or subtenancies or operate as an assignment to Landlord of such subleases or subtenancies. Notwithstanding the foregoing, Landlord’s consent by Landlord to one assignment shall will not be deemed unreasonably withheld should Tenant request an assignment of this Lease within the first eighteen (18) months of the initial lease term. Notwithstanding anything to be a the contrary contained in this Section and provided the use does not change. Tenant is not in default hereunder and Landlord receives prior written notice. Tenant may assign this Lease or sublease all or part of the Premises without Landlord’s consent to (i) any subsequent assignmentcorporation or partnership that controls, is controlled by, is under common control with, or is an affiliate or subsidiary of Tenant: or (ii) any corporation resulting from the merger or consolidation with Tenant or to any entity that acquires all of Tenant’s assets and continues to conduct the business of Tenant at the Premises. Any assignee or sublessee shall expressly assume the obligations of Tenant hereunder. Notwithstanding the foregoing, except as expressly agreed to by Landlord, no such assignment made contrary to or subletting shall release Tenant from its responsibility for the terms obligations of Tenant under this subparagraph shall be null and void unless permitted by subparagraph 11.2 belowLease.

Restrictions on Assignment. Tenant may only assign 7.1 This Licence is personal to and shall at all times be held beneficially by the Licensee and shall not be assigned except as provided by the terms of this Lease Licence. 7.2 The Licensee shall not assign, transfer or otherwise dispose of this Licence or any interest hereinin this Licence without first obtaining the Licensor's consent. The Licensor may refuse its consent if, in its sole discretion, the Licensor considers: 7.2.1 That the proposed assignee (Assignee) or occupant is not a suitable party to have use of the Berth; 7.2.2 That the Berth is not suitable for the boat owned by the Assignee; 7.2.3 Where the Licensee proposes to sub-licence this Licence or grant an occupancy right in respect of the Berth, that the period of the sub-licence or grant is unacceptable to the Licensor, provided that the Licensor will not withhold its permission on this ground where the proposed period(s) will not exceed 12 months in aggregate; or 7.2.4 That the terms of the sublicence or grant of occupancy rights do not expressly provide that the sub- licensee or occupant shall comply with the terms and conditions of this Licence and all references to the Licensee in this Licence shall be read, as necessary, as references to the sublicensee or occupant. 7.3 The Licensee's application for consent to assignment or to the grant of an occupancy right in respect of the Berth shall be subject to the prior written consent of Landlord. Landlord following conditions: 7.3.1 The application shall not unreasonably withhold or delay its consent, and shall grant consent if the proposed assignee is financially equal to or stronger than Tenant and has sufficient business experience to perform all the agreements, undertakings, and covenants of this Lease and all other agreements entered into by Tenant that relate to the management, operation, maintenance, construction, and restoration include: (a) full particulars of the Buildingsname, Improvements type, beam, length and draft of the Land. To assist Landlord boat which will occupy the Berth, if consent is given by the Licensor and satisfactory evidence that the boat which the Assignee, sublicensee or occupant proposes to berth at the Berth is suitable in determining whether all respects; (b) the name, address and occupation (or not in the case of a corporation, the registered office and details of business) of the Assignee, sublicensee or occupant. (c) in the case of a proposed assignee is so qualified, Tenant shall furnish to Landlord at no expense to Landlord, prior to such assignment, detailed and complete financial statements details of the proposed assigneesale price and such evidence as the Manager may require that the Assignee is respectable, audited by responsible, solvent and able to meet the requirements of this Licence and; (d) in the case of a certified public accountant reasonably satisfactory to Landlord (if proposed sub-licence or grant an occupancy right in respect of the proposed transferee causes its statements to be so audited in its normal course of business)Berth, together with detailed and complete information about the business application shall specify the period of the proposed assigneesub- licence or grant; 7.3.2 The Licensor shall have the rights specified in clause 8 in respect of any proposed assignment of the Licence, including its business experienceother an assignment of the nature specified in clauses 7.3.6(b)(i) to 7.3.6(b)(iv). 7.3.3 All licence fees and other money for the time being due or payable by the Licensee shall be paid and any existing defaults of the Licensee under the Licence shall be rectified; 7.3.4 The boat of the Assignee, sub-licensee or occupier must meet the dimensions and other requirements of the Berth; 7.3.5 An Assignee must be a paid up member of the Licensor and of the Sandspit Yacht Club; 7.3.6 In the case of an assignment: (a) The Licensor shall sign a surrender of this Licence and the Assignee shall sign a new licence for the Berth for the unexpired residue of the term of this Licence, but otherwise on the terms and conditions set out in the Licensor’s then current licence form. (b) The Licensee shall pay to the Manager an administration fee of $500 and a surrender and re- grant fee equal to 1% of the sale price of the Licence, or such other sum as set by the Licensor from time to time, unless such assignment is: (i) To the Licensee's executors or administrators following the death of the Licensee; (ii) To the Licensee's beneficiaries following the death of the Licensee; or (iii) Where the Licensor is satisfied that the Licensee is holding the Berth as trustee of a trust and the transfer is to a new trustee or trustees appointed for such trust or to beneficiaries of the trust; (iv) Where the Licence is held by more than one person, to a lesser number of the same people. 7.3.7 In the case of an assignment of the type specified in clause 7.3.6(b) or the grant of a sublicence or occupancy right, the use Licensee shall pay to be made the Licensor, the reasonable costs of the Land, Buildings and Improvements Licensor in providing a consent. 7.4 The Licensor's consent to any assignment by the proposed assignee, projections Licensee shall not extend to any other assignment by the proposed assignee Licensee and in the case of a sub-licensing or grant of occupancy right the Licensor’s consent shall be strictly limited to the period approved. 7.5 Notwithstanding anything contained in this Licence, the maximum number of persons comprising the Licensee at any one time shall not exceed 3. 7.6 For the purposes of this clause 7, if the Licensee or one of the sources of funds to be used to repay persons comprising the Licensee is a body corporate, any indebtedness of Tenant that the proposed assignee will assume change in effective management or take subject to, or agree to pay to Tenant, and other claims on and requirements for such funds, together with such other information as Landlord may reasonably require to assist Landlord in determining whether or not the proposed assignee is so qualified. Landlord shall have 30 days after receipt control of the information described above to notify Tenant body corporate (for example, a change in the directorship or shareholding of whether it consents or does not consent to the proposed assignment. Absent any such notification by Landlord during said 30-day period, Landlord company) shall be conclusively deemed to have consented to the assignment. A consent by Landlord to one assignment shall not be deemed to be a consent to any subsequent assignment. Any an assignment made contrary to the terms of this subparagraph Licence. 7.7 The Licensee shall be null and void unless permitted by subparagraph 11.2 belownot mortgage, charge, pledge or otherwise encumber its interest under this Licence.