Common use of ASSIGNMENT AND SUBLETTING 21 Clause in Contracts

ASSIGNMENT AND SUBLETTING 21. Tenant shall not assign or sublet the Premises or any part thereof without Landlord's prior written approval except as provided herein. If Tenant desires to assign this Lease or sublet any or all of the Premises, Tenant shall give Landlord written notice ninety (90) days prior to the anticipated effective date of the assignment or sublease. Landlord shall then have a period of thirty (30) days following receipt of such notice to notify Tenant in writing that Landlord elects either (1) to terminate this Lease as to the space so affected as of the date so requested by Tenant provided Tenant agrees, or (2) to permit Tenant to assign this Lease or sublet such space, subject, however, to Landlord's prior written approval of the proposed assignee or subtenant and of any related documents or agreements associated with the assignment or sublease, such consent not to be unreasonably withheld so long as the use of the Premises by such proposed assignee or subtenant would be a Permitted Use and would not in Landlord's opinion increase Occupant Density of the Project, the proposed assignee or subtenant is of sound financial condition, and the proposed assignment or sublease would not be likely to result in any decrease in Rent. If Landlord should fail to notify Tenant in writing of such election within said period, Landlord shall be deemed to have waived option (1) above, but written approval by Landlord of the proposed assignee or subtenant shall be required. Failure by Landlord to approve a proposed assignee or subtenant shall not cause a termination of this Lease.

ASSIGNMENT AND SUBLETTING 21. A. Tenant shall not assign or sublet the Premises or any part thereof without Landlord's prior written approval approval, except as provided herein. If Tenant desires to assign this Lease or sublet any or all of the Premises, AND PROVIDED TENANT IS NOT AND HAS NOT BEEN IN MATERIAL DEFAULT DURING THE TERM OF THIS LEASE, FOR WHICH TENANT HAS RECEIVED WRITTEN NOTICE OF THE DEFAULT AND TENANT HAS FAILED TO CURE AS PROVIDED IN THIS LEASE, Tenant shall give Landlord written notice ninety SIXTY (9060) days prior to the anticipated effective date of the assignment or sublease. Landlord shall then have a period of thirty FIFTEEN (3015) days following receipt of such notice to notify Tenant in writing that Landlord elects either (1) to terminate this Lease as to the space so affected as of the date so requested by Tenant provided Tenant agrees, or (2) to permit Tenant to assign this Lease or sublet such space, subject, however, to Landlord's prior written approval of the proposed assignee or subtenant and of any related documents or agreements associated with the assignment or sublease, such consent not to be unreasonably withheld so long as the use of the Premises by such proposed assignee or subtenant would be a Permitted Use and would not in Landlord's opinion MATERIALLY increase Occupant Density occupant density of the Project, the proposed assignee or subtenant is of sound financial condition, and the proposed assignment or sublease would not be likely to result in any decrease in Rent. If Landlord should fail to notify Tenant in writing of such election within said period, Landlord shall be deemed to have waived option (1) above, but written Written approval by Landlord of the proposed assignee or subtenant shall be required. Failure by Landlord to approve a proposed assignee or subtenant shall not cause a termination of this Lease. LANDLORD SHALL APPROVE, DISAPPROVE AS DEFINED ABOVE WITHIN FORTY-FIVE (45) DAYS OF RECEIPT OF TENANT'S FIRST NOTICE OF DESIRE TO ASSIGN OR SUBLEASE. B. Any Rent or other consideration realized by Tenant under any such sublease or assignment in excess of the Rent payable hereunder, after amortization of (1) the reasonable cost of any improvements which Tenant has made for the purpose of assigning or subletting all or part of the Premises and (2) reasonable subletting and assignment costs, shall be divided and paid, ten percent (10%) to Tenant, ninety percent (90%)

ASSIGNMENT AND SUBLETTING 21. Tenant shall not assign or sublet the Premises or any part thereof without Landlord's prior written approval except as provided herein. If Tenant desires to assign this Lease or sublet any or all of the Premises, Tenant shall give Landlord written notice ninety forty-five (9045) days prior to the anticipated effective date of the assignment or sublease. Landlord shall then have a period of thirty twenty (3020) days following receipt of such notice to notify Tenant in writing that Landlord elects either (1) to terminate this Lease as to the space so affected as of the date so requested by Tenant provided Tenant agreesTenant, or (2) to permit Tenant to assign this Lease or sublet such space, subject, however, to Landlord's prior written approval of the proposed assignee or subtenant and of any related documents or agreements associated with the assignment or sublease, such consent not to be unreasonably withheld so long as the use of the Premises by such proposed assignee or subtenant would be a Permitted Use and would not in Landlord's opinion increase Occupant Density of the Project, the proposed assignee or subtenant is of sound financial condition, and the proposed assignment or sublease would not be likely to result in any decrease in Rent. If Landlord should fail to notify Tenant in writing of such election within said period, Landlord shall be deemed to have waived option (1) above, but written approval by Landlord of the proposed assignee or subtenant shall be required. Failure by Landlord to approve a proposed assignee or subtenant shall not cause a termination of this Lease.