Common use of Assignment or Sublet Clause in Contracts

Assignment or Sublet. Tenant shall not transfer, mortgage, grant a security interest in, encumber, or assign this Lease, or any interest therein, or sublease all or part of the Premises, without Landlord’s advance written consent. Landlord’s consent to the granting of a security interest in, or mortgaging Tenant’s leasehold estate, or any interest therein, may be withheld by Landlord in Landlord’s sole discretion. If the Tenant is a corporation, the sale, transfer or encumbrance of a majority of its outstanding voting stock or equity interests (whether the result of a single or series of transactions), excluding merger, sale of assets, or consolidation with another banking institution or dissolution, shall be deemed an assignment of this Lease and shall be subject to the provisions contained herein relative to assignment. Likewise, if Tenant is a partnership, limited liability company, or any other entity, the sale, transfer or encumbrance of a majority of its voting or ownership or equity interests (whether the result of a single or series of transactions) shall be deemed an assignment of this Lease and shall be subject to the provisions contained herein relative to assignment.