Assignment or Lease Clause Samples
The "Assignment or Lease" clause governs the conditions under which a party may transfer its rights or obligations under a contract to another party, or lease those rights for a specified period. Typically, this clause outlines whether such transfers require the consent of the other original party, and may set out any restrictions or procedures for assignment or leasing, such as providing written notice or meeting certain qualifications. Its core function is to maintain control over who is involved in the contractual relationship, thereby protecting the interests of the original parties and preventing unwanted or unapproved transfers.
Assignment or Lease. In whole or in part, assign this Agreement or lease or grant the right to occupy or use the Project to others, without the prior written consent of the Director.
Assignment or Lease. In whole or in part, assign this Agreement or lease or grant the right to occupy or use the Project to others, without the prior written consent of the Director; provided that notwithstanding the foregoing, the Company may enter into licensing arrangements on commercially reasonable terms with third parties for the license and use of the Project Intangible Facilities.
Assignment or Lease. The Company may assign or otherwise transfer any of its rights and interest hereunder to an assignee or lessee, as the case may be, in compliance with the Transfer Provisions, including the requirement that any such assignment or lease shall be subject to the written consent of the County. In these regards, the County agrees that such consent shall not be unreasonably withheld, conditioned or delayed. The County hereby consents to any transfers by the Company to any affiliate of the Company at any time. For such purposes, “affiliate” shall mean any person or entity directly or indirectly controlling, controlled by or under common control with the Company. Further, the County agrees that, to the extent permitted by Section 12-44-120(B) of the Act, or any successor provision, any financing arrangements entered into by the Company with respect to the Project and any security interests granted by the Company in connection therewith shall not be construed as a transfer for purposes of requiring consent to the same on the part of the County.
Assignment or Lease. Tenant shall not assign or sublet this Lease without the prior written consent of Landlord during the term of the Service Contract.
A. Any assignment or lease shall be in writing and duly executed by both parties. An executed original shall be delivered to Landlord.
B. Any assignment or lease shall include language whereby the assignee or sublessee expressly assumes and agrees to pay the obligations of Tenant under this Lease. No assignment or lease shall release or diminish the obligations of Tenant for performance of Tenant’s obligations hereunder and Tenant shall remain liable as if no assignment or lease were made; that is, Tenant and assignee or sublessee will be jointly and severally liable for such obligations unless the Landlord specifically in writing allows the release of the Tenant.
C. Any assignment or lease shall be subject to all of the terms, covenants and conditions of this Lease and shall authorize Landlord, at Tenant’s option, to collect rent from assignee or sublessee and apply it against the obligations of Tenant under this Lease, without waiver of Landlord’s rights and remedies hereunder.
Assignment or Lease. The Company may assign its rights and obligations under this Agreement, and/or the Company may lease the Project as a whole or in part; provided, however, that (a) no such assignment or lease shall relieve the Company from primary liability for any of its obligations under this Agreement, (b) each assignee of the Company's interest in this Agreement shall assume the Company's obligations under this Agreement to the extent of the interest assigned, (c) the Company shall, not less than 30 days prior to the effective date of any such assignment or lease, furnish or cause to be furnished to the Issuer and the Trustee a true and complete copy of each such assignment or lease contract and, as applicable, assumption of obligations, and (d) prior to any assignment or lease, the Company shall have caused to be delivered to the Issuer and the Trustee an opinion of Bond Counsel to the effect that such assignment or lease will not cause interest on the Bonds to be includable in the gross income of the owners thereof for purposes of Federal income taxation.