Common use of Standards for Consent Clause in Contracts

Standards for Consent. Without limiting the other instances in which it may be reasonable for the Landlord to withhold its consent to a Transfer, and without derogating from the Landlord's right to terminate this Lease, as provided in paragraph 8.2.1(b), it will be fair and reasonable for the Landlord to withhold its consent or impose conditions to its consent in any of the following instances: (a) if the Landlord determines that the financial condition of the Transferee or any indemnifier of a Transferee is or may become insufficient to support all of the financial and other obligations of the Tenant under this Lease; (b) if the use to which the Leased Premises will be put by the proposed Transferee is inconsistent with the terms of this Lease or conflicts with any exclusive rights or covenants not to compete in favour of any other tenant or proposed tenant of the Development, or otherwise will materially or adversely affect any legitimate interest of the Landlord; (c) if the business reputation or character of the proposed Transferee or any of its affiliates is not reasonably acceptable to the Landlord; (d) if the Landlord determines that the proposed Transferee is not likely to conduct on the Leased Premises a business that is: (i) of a quality substantially equal to that conducted by the Tenant, or (ii) consistent or compatible with the operations of existing tenants within the Development. (i) (e) if, at the time of the proposed Transfer, (i) the Tenant is in default (or would be in default with the giving of notice by the Landlord and the expiration of any applicable cure period) under this Lease, and (ii) the Landlord has not received assurances acceptable to the Landlord, in its sole discretion, that any past due amounts owing from the Tenant to the Landlord will be paid and any other defaults on the part of the Tenant will be cured prior to the effectiveness of the proposed Transfer;

Standards for Consent. . Without limiting the other instances in which it may be reasonable for the Landlord to withhold its consent to a Transfer, and without derogating from the Landlord's right to terminate this Lease, as provided in paragraph 8.2.1(b), it will be fair and reasonable for the Landlord to withhold its consent or impose conditions to its consent in any of the following instances: (a) if the Landlord determines determines, acting reasonably, that the financial condition of the Transferee proposed assignee, subtenant or occupant (collectively “Transferee”) or any indemnifier of a Transferee is or may become insufficient to support all of the financial and other obligations of the Tenant under this Lease; (b) if the use to which the Leased Premises will be put by the proposed Transferee is inconsistent with the terms of this Lease or conflicts with any exclusive rights or covenants not to compete in favour of any other tenant or proposed tenant of the DevelopmentBuilding, or otherwise will materially or adversely affect any legitimate interest of the Landlord; (c) if the business reputation or character of the proposed Transferee or any of its affiliates is not reasonably acceptable to the Landlord; (d) if the Landlord determines that the proposed Transferee is not likely to conduct on the Leased Premises a business that is: (i) of a quality substantially equal to that conducted by the Tenant, or (ii) consistent or compatible with the operations of existing tenants within the Development. (i) (e) if, at the time of the proposed Transfer, (i) the Tenant is in default (or would be in default with the giving of notice by the Landlord and the expiration of any applicable cure period) under this Lease, and (ii) the Landlord has not received assurances acceptable to the Landlord, in its sole discretion, that any past due amounts owing from the Tenant to the Landlord will be paid and any other defaults on the part of the Tenant will be cured prior to the effectiveness of the proposed Transfer; (d) intentionally deleted; (e) if the Transfer is not approved by any Mortgagee having the right to approve such Transfer; or (f) if the Tenant has not received a bona fide, written offer to take an assignment or a sublease or has not supplied a copy of such offer to the Landlord at the time of requesting consent to a Transfer.