ASSIGNED OR SUBLEASED Clause Samples
The "ASSIGNED OR SUBLEASED" clause governs the conditions under which a tenant may transfer their lease rights or obligations to another party, either through assignment or subleasing. Typically, this clause outlines whether landlord consent is required, any restrictions on the type of assignee or subtenant, and the process for obtaining approval. For example, it may prohibit subleasing without written permission or specify that the original tenant remains liable after assignment. Its core function is to protect the landlord’s interests by controlling who occupies the property and ensuring responsible use, while also providing tenants with flexibility in managing their lease commitments.
ASSIGNED OR SUBLEASED. Assignment or sublease of this Lease Agreement or any rights hereunder shall automatically terminate this lease without any further notice or action by LESSOR. In the event LESSEE owns improvements on the Leased Premises, any purchaser of said improvements or any person or entity holding a contract to purchase said improvements shall have the right of first refusal to negotiate a new lease agreement with LESSOR.