Common use of Transfer to Related Entity Clause in Contracts

Transfer to Related Entity. The Tenant's right of first refusal granted under this Section 49 shall not apply to any transaction whereby Landlord transfers the Premises to Landlord's Members or relatives of the Members of Landlord or to an entity in which any of them own beneficial interests; provided, however, that in such event the first right of refusal shall continue and the interest of the transferee partnership or limited liability company shall be subject to this first right of refusal.