Common use of Assignment and Subleases Clause in Contracts

Assignment and Subleases. Except as expressly permitted in writing by PIDA, the Industrial Occupant shall not assign or sublease any portion of the Premises, and shall not lease any portion of the Premises to or permit any portion thereof to be occupied by any person other than Industrial Occupant, and in no event shall the portion of the Project occupied by persons other than the Industrial Occupant exceed 49% of the leasable space of the Project or if a portion of the Project is leased to an ineligible tenant, no more than 15% of the leasable space of the Project.

Appears in 2 contracts

Sources: Loan Agreement, Loan Agreement (Lannett Co Inc)