Sublease/Assignment Sample Clauses
The Sublease/Assignment clause defines the conditions under which a tenant may transfer their lease rights or obligations to another party, either through subleasing the premises or assigning the lease entirely. Typically, this clause outlines whether landlord consent is required, any procedures for requesting approval, and potential restrictions or qualifications for subtenants or assignees. Its core practical function is to give landlords control over who occupies or takes over the leased property, thereby protecting their interests and ensuring responsible tenancy.
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Sublease/Assignment. Tenant will not allow the Leased Premises to be occupied by any other person, in whole or hi part, and will neither sublet the Leased Premises, in whole or in part, nor assign this Lease, in whole or in part, without in each case obtaining the express, prior written consent of Landlord. Tenant will not permit any transfer by operation of law of any interest in the Leased Premises acquired through this Lease. Landlord shall not unreasonably withhold or delay its consent to Tenant’s written request to sublease the Leased Premises or assign this Lease provided ▇▇▇▇▇▇ has provided detailed written information about the proposed subtenant or assignee, the form of sublease or assignment (as the case may be) and the proposed use of the Leased Premises, all in form and substance satisfactory to Landlord. ▇▇▇▇▇▇▇▇’s refusal to consent to any proposed sublease or assignment shall not be deemed unreasonable if (a) the net worth of the proposed subtenant or assignee, determined in accordance with generally accepted accounting principles, consistently applied, is less than the greater of the net worth of the Tenant on (i) the date of execution of this Lease, or (ii) the day immediately preceding the proposed effective date of such sublease or assignment, (b) Tenant is in default of any of the terms, covenants or conditions of this Lease, or (c) the proposed use of the Leased Premises will result in: (i) increased wear and tear on the Leased Premises, the common facilities or adjacent parking; (ii) parking requirements in excess of those provided for by applicable zoning ordinances or which would tend to deprive other tenants in the Building of their required parking; (iii) public protests or picketing; or (iv) any adverse affect on other tenants in the Building or adjacent buildings. Landlord may require, as a condition to granting Landlord’s consent with respect to the provisions of this Section 11, an assumption of the obligations under this Lease by the proposed transferee. Tenant shall pay all of Landlord’s reasonable legal fees, incurred by Landlord in reviewing each proposed assignment or sublease. If Tenant receives rent or other payments under any assignment or sublease in excess of the payments made by Tenant to Landlord under this Lease (as all such amounts are adjusted for any assignment or subletting of less than all of the Leased Premises), then Tenant shall pay Landlord one half of such excess, less the reasonable, out-of-pocket cost incurred by Tenant in...
Sublease/Assignment. Licensee shall not sublease the Premises or assign this Agreement without the prior written approval of the Licensor. Any attempted assignment shall be void.
Sublease/Assignment. If KsFiberNet assigns, sublets, enters into a franchise license or concession agreement, changes ownership of the Network or voting control of KsFiberNet, mortgage, encumber, pledge, hypothecate or other transfer (including any transfer by operation of law this Agreement or any interest therein) KsFiberNet will provide notice of a transfer within a reasonable time.
Sublease/Assignment. If Mobilitie assigns, sublets, enters into a franchise license or concession agreement, changes ownership of the Network or voting control of Mobilitie, mortgage, encumber, pledge, hypothecate or other transfer (including any transfer by operation of law this Agreement or any interest therein) Mobilitie will provide notice of a transfer within a reasonable time.
Sublease/Assignment. (a) Lessee shall not sublet, underlet or assign this Lease, the Premises, or any portion thereof or interest therein, during the Term, without the express written consent of Lessor, which consent shall be at the sole discretion of Lessor. Any permitted subleasing shall not act to permit any additional subleasing nor release Lessee from any liability or obligation hereunder. Prior to any such subletting or assignment both entities shall execute a document reasonably acceptable to Lessor whereby each agrees to be primarily liable under the terms of this Lease applicable to Lessee.
(b) Notwithstanding anything to the contrary set forth herein, Lessee shall not assign this Lease or sublet all or any portion of the Premises without Lessor's consent, which consent shall not be unreasonably withheld, conditioned or delayed, to any person or entity (i) that is acting as, or agent to or designee of, a lender to Lessee, (ii) affiliated with, controlled (directly or indirectly) by or under common control (directly or indirectly) with Lessee, (iii) into or with which Lessee is merged or consolidated or (iv) which acquires the stock or assets of Lessee or any portion thereof. In the event of any permitted assignment, sublease, or other transfer of this Lease by Lessee, Lessee shall provide 10 days' prior written notice to Lessor. Prior to any such subletting or assignment both entities shall execute a document reasonably acceptable to Lessor whereby each agrees to be primarily liable under the terms of this Lease applicable to Lessee.
Sublease/Assignment. Lessee acknowledges and agrees that Lessor may, subject to the terms of this Lease, sell, assign, grant a security interest in, or otherwise transfer all or any part of its rights, title and interest in this Lease and the Equipment; provided, however, that either (i) any such transfer shall be either to an affiliate of Lessor which does not provide telecommunications services which are competitive with those services then provided by the Company or its subsidiaries, or (ii) any such transfer (A) is to an institutional investor having a tangible net worth of not less than $50,000,000 and which does not provide telecommunications services which are competitive with those services then provided by the Company or its subsidiaries, and (B) will result in Lessor retaining at least a twenty-five percent (25%) interest in each Schedule to this Lease. Upon Lessor's written notice, Lessee shall, if requested, pay directly to such assignee without abatement, deduction or set-off all amounts which become due hereunder. Lessee
Sublease/Assignment. Except for Tenant's subleasing of the Termination Space which Tenant has disclosed in writing to Landlord prior to the date of this Agreement, each party represents to the other that it has not made any assignment, sublease, transfer, conveyance, or other disposition of the Lease or any interest in the Lease or the Termination Space.
Sublease/Assignment. Lessee shall make no assignment of this Lease, nor shall it sublease the Parking Lot to any other person or entity without the prior written consent of Lessor.
Sublease/Assignment. OCCUPANT shall not sublease, assign or in any manner transfer any of OCCUPANT'S rights and obligations under this Agreement, and shall not permit occupancy or use of the Premises by any person other than OCCUPANT without the prior written consent of OWNER.
Sublease/Assignment a. Tenant may not assign, sublet or agree to occupancy of the Property during the Term by any other person or entity in whole or in part without Landlord's consent.