ASSIGNMENT AND SUBLETTING definition

ASSIGNMENT AND SUBLETTING. The following modifications are made to Paragraph 16: A. In the event that Tenant seeks to make any assignment or sublease, then Landlord, by giving Tenant written notice of its election within fifteen (15) days after Tenant’s notice of intent to assign or sublease has been given to Landlord, shall have the right to elect (i) to withhold its consent to such assignment or sublease, as permitted pursuant to Paragraph 16, or (ii) to permit Tenant to so assign the Lease or sublease such part of the Premises, in which event Tenant may do so, but without being released of its liability for the performance of all of its obligations under the Lease, and the following shall apply (except the following shall not apply to a “Permitted Transfer” described in Paragraph 57): 1) If Tenant assigns its interest in this Lease, then in addition to the rental provided for in this Lease, Tenant shall pay to Landlord fifty percent (50%) of all Rent and other consideration received by Tenant over and above (i) the assignee’s agreement to assume the obligations of Tenant under this Lease and (ii) all “Permitted Transfer Costs” (as defined herein) related to such assignment. As used herein, the term “Permitted Transfer Costs” shall mean all reasonable leasing commissions paid to third parties not affiliated with Tenant in order to obtain the assignment or sublease in question.
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ASSIGNMENT AND SUBLETTING. The following modifications are made to Paragraph 16: A. Quantum 2
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ASSIGNMENT AND SUBLETTING. Tenant shall have no right to assign or sublet this lease without the prior consent of Landlord, such consent not to be unreasonably withheld if the written request for such consent complies with the provisions of this paragraph. Tenant"s request for consent to the assignment or subletting shall be accompanied, in a form acceptable to Landlord, by (a) an unconditional written offer by Tenant to Landlord to terminate this lease as of the commencement date of the proposed assignment or sublease, (b) a recent audited financial statement for the proposed assignee or sub tenant, (c) a written statement form the assignee or subtenant stating with particularity the nature of the business intended to be conducted on the Premises, and (d) the number of officers and employees expected to be located on the Premises and, (e) an unequivocal assumption of liability by the assignee or subtenant of the lease with the rental adjusted as follows: Upon such assignment (or upon subletting any of the Premises covered by this lease) the then base rent shall be automatically increased to reflect the then current fair market rental value of the Premises, but in no event shall the then Base Rent be decreased. Landlord shall have fifteen (15) days form receipt of (a) through (e) in which to notify Tenant of Landlord"s consent or refusal to give its consent give notice of its refusal to give such consent or accept Tenant"s offer to terminate within said fifteen (15) days, such consent shall be deemed granted by Landlord. The terms assignment or subletting, as used in this Lease, shall include any and all transfers of Tenant"s interest in this lease, whether voluntary or involuntary, including any lien upon Tenant"s interest, or any transfer by Tenant, any assignee or subtenant of Tenant, or by any receiver or trustee with jurisdiction over Tenant, a subsequent assignee or subtenant or its property. Any sums or other economic consideration received by Tenant as a result of such subletting, whether denominated rentals under the sublease or otherwise, which exceed, in the aggregate, the total sums which Tenant is obligated to pay landlord under this lease (prorated to reflect obligations allocable to that portion of the premises subject to such subtenant) shall be payable to the Landlord as additional rental under this Lease without affecting or reducing any other obligation of Tenant hereunder..
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Examples of ASSIGNMENT AND SUBLETTING in a sentence

  • Subject to Section 14 - ASSIGNMENT AND SUBLETTING and Section 28 - LANDLORD'S LIABILITY, this Lease shall be binding on and shall inure to the benefit of the parties and their respective successors, assigns and legal representatives.

  • ASSIGNMENT AND SUBLETTING 30 14.1 Generally Forbidden 30 [***] Confidential portions of this document have been redacted and filed separately with the Commission.

  • ART1CLE 15 ---------- ASSIGNMENT AND SUBLETTING ------------------------- Tenant shall have no power to, either voluntarily, involuntarily, by operation of law or otherwise, sell, assign, transfer or hypothecate this Lease, or sublet the Premises or any part thereof, or permit the Premises or any part thereof to be used or occupied by anyone other than Tenant or Tenant's employees without the prior written consent of Landlord, which consent shall not be unreasonably withheld.

  • LESSOR AND LESSEE AGREE THAT THE LIMITATIONS ON ASSIGNMENT AND SUBLETTING IN THIS LEASE ARE REASONABLE.

  • ASSIGNMENT AND SUBLETTING: Tenant may not assign this agreement or sublet any portion of the premises.

  • ASSIGNMENT AND SUBLETTING: Tenant shall not assign, transfer or encumber this Lease under any circumstances period.

  • Its: President THE FOREGOING LEASE IS CONSENTED TO (INCLUDING ALL THE TERMS AND CONDITIONS THEREOF, INCLUDING WITHOUT LIMITATION PARAGRAPHS 4.21 (REAL ESTATE TAXES), 4.23 (INSURANCE), 5.17 (ENVIRONMENTAL COMPLIANCE), 5.2.1 (ASSIGNMENT AND SUBLETTING) AND ARTICLE VIII (MORTGAGES)).

  • ASSIGNMENT AND SUBLETTING SECTION 1: LANDLORD'S CONSENT REQUIRED.

  • No one other than Lessee, its agents, volunteers and employees, or any sublessee of Lessee approved by County as provided in Article 13 ASSIGNMENT AND SUBLETTING is permitted to use the Premises for the purposes described in this Lease, and Lessee shall be fully responsible for the activities of its agents, volunteers and employees and sublessees, if any, on the Premises.

  • Subject to the provisions of Clause 25 (ASSIGNMENT AND SUBLETTING) hereof, all of the covenants, conditions and provisions of this Lease shall be binding upon and shall inure to the benefit of the Parties hereto and their respective heirs, personal representatives, successors and assigns.


More Definitions of ASSIGNMENT AND SUBLETTING

ASSIGNMENT AND SUBLETTING. Sublessee shall not assign this Sublease without Sublessor's consent, except to (a) an entity controlling, controlled by or under common control with Sublessee, or (b) a successor entity related to Sublessee by merger, consolidation, nonbankruptcy reorganization, or government action. Sublessee may also sub-sublease all or a portion of the Subleased Premises without Sublessor's consent, to a purchaser of substantially all of Sublessee's assets in each Segment. For the purpose of this Section 16, "Segment" shall mean each of the Surgical Segment, the Aesthetic Segment and the Ophthalmic Segment of the Business (each as defined in the APA). Notwithstanding the foregoing, Sublessee may sublet all or any part of the Subleased Premises from time to time to any person or entity, provided that (i) such person or entity (a "Permitted Subtenant") shall be subject to and shall agree to comply in all respects with, the terms of this Sublease and the New Master Lease and (ii) Sublessee shall remain the primary obligor to Sublessor in respect of this Sublease, and shall guarantee such compliance by such Permitted Subtenant."
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ASSIGNMENT AND SUBLETTING. Client’s interest under this Agreement many not be encumbered or assigned, in whole or part, either by act of Client or by operation of law without the express written consent of Operator. In the absence of written consent, any purported encumbrance, assignment or sublease by Client shall not be binding on Operator.
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ASSIGNMENT AND SUBLETTING. The Lessee shall neither assign this Lease nor sublet the premises in whole or part without the written consent of the Lessor. Further, the Lessee shall not permit the use or occupation of said premises by anyone other than Lessee without the written consent of the Lessor. For the purpose of this Section 5, the Executive Vice President of Lessor, or his or her designee, shall be the official authorized to provide the required written consent.
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ASSIGNMENT AND SUBLETTING. The Licensee under no circumstances may assign or sublet the Designated Package or any other part of the Premises without the written consent of the licensor, which consent may be unreasonably or arbitrarily withheld.
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ASSIGNMENT AND SUBLETTING shall not mean Landlord's consent or ------------------------- approval to any related Alterations.
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Related to ASSIGNMENT AND SUBLETTING

  • Assignment of Lease means the Assignment of Lease to be executed by the Seller and the Purchaser at the Closing with respect to each parcel of Leased Real Property listed on Section 3.14(b) of the Disclosure Schedule, substantially in the form of Exhibit 1.01(b).

  • Assignment and Conveyance An assignment and conveyance of the Mortgage Loans purchased on a Closing Date in the form annexed hereto as Exhibit 4.

  • Assignment of Leases With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar agreement executed by the Mortgagor, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered, as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

  • Assignment and Assumption of Lease has the meaning set forth in Section 3.02(a)(v).

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.