Common use of Assignment or Subletting Clause in Contracts

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreement.

Appears in 2 contracts

Sources: Office Lease (Yardville National Bancorp), Office Lease (Yardville National Bancorp)

Assignment or Subletting. That should Tenant agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose or purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this agreement Lease or underlet sublet said premisesDemised Premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior written consent of Landlord in each instance. Tenant shall seek such consent of Landlord by a written request therefor, setting forth such information as Landlord may deem necessary. Consent by Landlord to any assignment of this Lease or to any subletting of the Demised Premises shall be at Landlord’s sole discretion and shall not be a waiver of Landlord’s rights under this Article as to any subsequent assignment or subletting. Landlord’s rights to assign this Lease are and shall remain unqualified. No such assignment or subleasing shall relieve the Tenant from any of Tenant’s obligations in this Lease contained, nor shall any assignment or sublease or other transfer of this Lease be effective unless the assignee, subtenant or transferee shall at the time of such assignment, sublease or transfer, assume in writing for the benefit of Landlord, its successors and assigns, all of the terms, covenants and conditions of this Lease thereafter to be performed by Tenant and shall agree in writing to be bound thereby. Should Tenant sublease in accordance with the terms of this Lease, any increase in rental received by Tenant over the per square foot rental rate which is being paid by Tenant shall be forwarded to and retained by Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase shall be permitted in addition to assign the Base Rent and Additional Rent due Landlord under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 2 contracts

Sources: Lease (Wireless Ronin Technologies Inc), Lease Agreement (Wireless Ronin Technologies Inc)

Assignment or Subletting. That should Tenant agrees to use and occupy the Tenant desire Demised Premises throughout the entire Lease Term for the purpose or purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this agreement Lease or underlet said premises, it shall first offer same to Landlord at sublet the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises Demised Premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior written consent of LandlordLandlord in each instance. Tenant shall seek such consent of Landlord by a written request therefor, which setting forth such information as Landlord may deem necessary. Landlord agrees not to withhold or delay consent will unreasonably. Consent by Landlord to any assignment of this Lease or to any subletting of the Demised Premises shall not be unreasonably withheld a waiver of Landlord's rights under this paragraph 21 as to any subsequent assignment or delayed; providedsubletting. Landlord's rights to assign this Lease are and shall remain unqualified. No such assignment or subleasing by Tenant shall relieve Tenant from any of its obligations under this Lease, howevernor shall any assignment or sublease or other transfer of this Lease by Tenant be effective unless the assignee, that notwithstanding sublessee or transferee shall at the time of such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer assume in writing for the benefit of Landlord, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fireperformed by Tenant, under penalty of damages and forfeiture. Tenant shall agree in writing to be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementbound hereby.

Appears in 2 contracts

Sources: Office/Warehouse Lease (Possis Medical Inc), Office/Warehouse Lease (Possis Medical Inc)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose of purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Lessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor, setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent unreasonably. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Lessor's rights under this Article as to any subsequent assignment or subletting. Lessor's rights to assign this agreement Lease are and shall remain unqualified. No such assignment or underlet said premisessubleasing shall relieve the Lessee from any of Lessee's obligations in this Lease contained, it nor shall first offer same to Landlord any assignment or sublease or other transfer of this Lease be effective unless the assignee, sublessee or transferee shall at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days time of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease, fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 2 contracts

Sources: Office/Warehouse Lease (Lectec Corp /Mn/), Lease Agreement (Surmodics Inc)

Assignment or Subletting. That should the Tenant desire to assign acknowledges that Landlord has entered into this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt Lease because of Tenant's written offerfinancial strength, then Tenant shall be allowed goodwill, ability and expertise and that accordingly, this lease is personal to assign Tenant. Taking this agreement or underlet the premises provided that the Tenant into consideration, tenant shall not (a) assign assign, mortgage, sublet, pledge or encumber this agreementLease, in whole or underlet or underlease in part, except with the premises or any part thereof without the prior written consent of the Landlord, which consent will shall not be unreasonably withheld or delayed; provided. Tenant agrees that, however, that notwithstanding in the event of any such assignmentassignment or subletting, Tenant shall not thereby be relieved from responsibility hereundernevertheless remain liable for the performance of all terms, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account covenants, and conditions of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the TenantLease. In the event that the Landlord consents to an assignment of the Lease, any money or consideration to be paid to Tenant for the assignment shall be paid to the Landlord as partial consideration for the Landlord's consent to the assignment. In the event the Landlord consents to a sublease of the Premises, or any portion thereof, Tenant shall pay to the Landlord a sum equal to (1) any money, rent or other consideration paid to the Tenant enters into an agreement by any subtenant in excess of the pro-rata portion of the rent for such space then being paid by Tenant to sell all of its stock of Yardville National Bank, it is permissible Landlord under this Lease and (2) any other profit or gain realized by the Lease AgreementTenant from such subletting. All sums payable hereunder by Tenant shall be paid to Landlord as additional rent immediately upon the receipt thereof by Tenant.

Appears in 2 contracts

Sources: Lease Agreement (Bioanalytical Systems Inc), Lease Agreement (Vanda Pharmaceuticals Inc.)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose or purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this agreement Lease or underlet sublet said premisesDemised Premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior written consent of LandlordLessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor, which setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent will unreasonably. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be unreasonably withheld a waiver of Lessor's rights under this Article as to any subsequent assignment or delayed; providedsubletting. Lessor's rights to assign this Lease are and shall remain unqualified. No such assignment or subleasing shall relieve Lessee from any of Lessee's obligations in this Lease contained, howevernor shall any assignment or sublease or other transfer of this Lease be effective unless the assignees, that notwithstanding sublessee or transferee shall at the time of such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease, fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, less any costs incurred by Lessee for such assignment of sublet, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Office/Warehouse Lease (Intranet Solutions Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's ’s written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's ’s consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreement.

Appears in 1 contract

Sources: Office Lease (Yardville National Bancorp)

Assignment or Subletting. That should the Tenant desire agrees not to transfer or assign this agreement ------------------------ Lease or underlet sublet said premisesProperty, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Landlord in each instance. Notwithstanding the foregoing, Tenant may, without the prior written consent of Landlord, assign its rights and obligations hereunder to any corporation or entity with which or into which Tenant may merge or consolidate. Tenant shall seek any required consent will of Landlord by a written request therefore, setting forth such information as Landlord may reasonably deem necessary. Consent by Landlord to any assignment of this Lease or to any subletting of the Property shall not be unreasonably withheld a waiver of Landlord's right under this paragraph as to any subsequent assignment or delayed; providedsubletting. Landlord's rights to assign this Lease are and shall remain unqualified. No such assignment or subleasing shall relieve the Tenant from any of Tenant's obligations contained in this Lease, howevernor shall any assignment of this Lease be effective unless the assignee, that notwithstanding subtenant or transferee shall at the time of such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Landlord, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages performed by Tenant and forfeiture. Tenant shall agree in writing to be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementbound thereby.

Appears in 1 contract

Sources: Lease (Spectrum Control Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without Without the prior written consent of Landlord, which Tenant shall not (i) assign, convey, or mortgage this Sublease or any interest under it, (ii) allow any transfer thereof or any lien upon Tenant's interest by operation of law, or (iii) further sublet the Premises or any part thereof (collectively, a "Transfer"). Tenant shall follow the procedures for requesting Landlord's consent will not to an assignment as set forth in Section 5.1 of the Prime Lease for any Transfer, as though Tenant was the tenant thereunder and Landlord was the Prime Landlord. Landlord's consent to a Transfer may be unreasonably withheld or delayed; in Landlord's sole and absolute discretion, provided, however, that notwithstanding Landlord shall use reasonable efforts to obtain the consent of Prime Landlord if such assignmentconsent is required to be obtained under the Prime Lease. In addition to the costs and expenses to be paid by Tenant to Landlord as part of Tenant's notice prescribed in Section 5.1 of the Prime Lease by operation of this Section 13, Tenant shall not thereby be relieved from responsibility hereunderpay all costs and expenses owed under the Prime Lease for Prime Landlord's consideration of a proposed Transfer. Notwithstanding the foregoing, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted entitled to assign this lease or sublet the premises engage in a Transfer without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible said Transfer would not require Prime Landlord's consent under the Lease AgreementPrime Lease. Any assignee or sub-sublessee which claims an interest in this Sublease pursuant to a Transfer shall be bound by all the terms and conditions of this Sublease.

Appears in 1 contract

Sources: Asset Purchase Agreement (Orion Healthcorp Inc)

Assignment or Subletting. That should the Tenant desire to assign Lessee covenants and agrees that it will not sell, assign, sublease, mortgage, pledge or otherwise transfer or encumber (collectively "transfer") this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises Lease or any part thereof rights, interests or estates created by this Lease or all or any portion of the Leased Premises, either voluntarily or by operation of law, without having first obtained the prior written consent of Landlord, Lessor (which consent will shall not be unreasonably withheld or delayed; provideddelayed , however, that notwithstanding such and in the case of an assignment, Tenant without obtaining and presenting to Lessor a covenant of assumption by the assignee, wherein such assignee expressly agrees to and with Lessor ,to assume and be bound by all of the covenants, terms, conditions and provisions hereof to the same extent as if said assignee had been named as the original Lessee. Notwithstanding anything herein to the contrary, Lessee may transfer this Lease, or any rights, interests or estates created by this Lease or all or any portion of the Leased Premises to an entity affiliated with Lessee, its permitted successors or assigns, without consent. Any such transfer shall not thereby be relieved relieve Lessee from responsibility hereunderits obligations to comply with all the covenants, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account terms, conditions and provisions of firethis Lease, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenantunless otherwise agreed in writing by Lessor. In the event that the Tenant enters into an agreement Lessor consents to sell all any transfer, such consent shall not relieve Lessee and/or any transferee, assignee, sublessee, etc., from securing Lessor's written consent to any M e r transfer, nor shall any such consent be construed as a consent to any further transfer or as a waiver of its stock any portion of Yardville National Bank, it is permissible under the Lease Agreementthis section or of Lessor's rights hereunder.

Appears in 1 contract

Sources: Coal Mining Lease (Natural Resource Partners Lp)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreementLease nor any interest herein, either voluntarily or involuntarily by operation of law, or underlet sublease the Premises or underlease any right or privilege connected therewith, or allow any other person except agents and employees of Tenant to occupy the premises Premises or any part thereof without first obtaining the prior written consent of Landlord, which consent will may be withheld by Landlord in the exercise of Landlord's reasonable discretion. For the purposes of this Paragraph, a merger, consolidation, sale of substantially all of the stock of Tenant is deemed to be an assignment requiring the consent of Landlord. However, consent shall not be unreasonably withheld if the assignee is of the same, or delayed; providedbetter, howeverfinancial condition as Tenant or if Tenant remains liable under the Lease. Any unauthorized assignment, that notwithstanding sublease, or license to occupy by the Tenant shall be void and shall, at the option of Landlord, be deemed a default hereunder. Any consent to assignment or subletting given by Landlord shall not constitute a waiver of the necessity for such assignmentconsent to any subsequent assignment or subletting. Notwithstanding any such assignment or sublease hereof, Tenant shall be fully liable under this Lease and shall not thereby be relieved released from responsibility hereunderperforming its terms, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of firecovenants, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementconditions.

Appears in 1 contract

Sources: Lease Agreement (Cfi Mortgage Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premisesWithout Landlord’s consent, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (ai) assign this agreementassign, convey, or underlet mortgage this Sublease or underlease any interest under it; (ii) allow any transfer thereof or any lien upon Tenant’s interest by operation of law; (iii) sub-sublet the premises Premises or any part thereof; or (iv) permit the occupancy of the Premises or any part thereof without by anyone other than Tenant. Landlord’s consent to an assignment of this Sublease or a sub-subletting of the prior written consent of Landlord, which consent will Premises shall not be unreasonably withheld withheld, and if Landlord consents, Landlord shall use reasonable efforts to obtain the consent of Prime Landlord if its consent is required under the Prime Lease. Any cost of obtaining Prime Landlord’s consent shall be borne by Tenant. No permitted assignment shall be effective and no permitted sub-subletting shall commence unless and until any default by Tenant hereunder shall have been cured. Unless otherwise agreed by the Landlord and Tenant, no permitted assignment or delayed; provided, however, that notwithstanding such assignment, sub-subletting shall relieve Tenant from its obligations and agreements hereunder and Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof continue to be occupied for any business liable as a principal and not as a guarantor or purpose deemed disreputable surety, to the same extent as though no assignment or extrasub-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had occurred.

Appears in 1 contract

Sources: Sublease (Quixote Corp)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose or purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Lessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor, setting forth such information as Lessor may deem necessary. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Lessor's right under this Article as to any subsequent assignment or subletting. Lessor's rights to assign this agreement Lease are and shall remain unqualified. No such assignment or underlet said premisessubleasing shall relieve the Lessee from any of Lessee's obligations in this Lease contained, it nor shall first offer same to Landlord any assignment or sublease or other transfer of this Lease be effective unless the assignee, sublessee or transferee shall at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days time of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease, fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Commercial Lease (Mercury Waste Solutions Inc)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose of purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign the Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Lessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor; setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent unreasonably. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Lessor's rights under this Article as to any subsequent assignment or subletting. Lessor's rights to assign this agreement Lease are and shall remain unqualified. No such assignment or underlet said premisessubleasing shall relieve the Lessee from any of Lessee's obligations in this Lease contained, it nor shall first offer same to Landlord any assignment or sublease or other transfer of this Lease be effective unless the assignee, sublessee or transferee shall at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days time of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease, fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Office/Warehouse Lease (Inter Con Pc Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant A. Lessee shall not (ai) assign assign, convey or mortgage this agreementSublease or any interest under it; (ii) allow any transfer thereof or any lien upon Lessee's interest by operation of law; (iii) further sublet the Premises or any part thereof; or (iv) permit the occupancy of the Premises, or underlet or underlease the premises or any part thereof by anyone other than Lessee, without the prior written consent of LandlordLessor and Prime Lessor, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant Lessor shall not thereby unreasonably withhold, condition or delay. Lessee shall be relieved solely responsible for obtaining the consent of Prime Lessor under the Prime Lease. Any cost of obtaining Prime Lessor's consent shall be borne by Lessee. B. No permitted assignment shall be effective and no permitted sublease shall commence unless and until any default by Lessee hereunder shall have been cured. No permitted assignment or subletting shall relieve Lessee from responsibility hereunder, or (b) permit or suffer the premises or any part thereof Lessee's obligations and agreements hereunder and Lessee shall continue to be occupied for liable as a principal and not as a guarantor or surety to the same extent as though no assignment or subletting had been made. C. If Lessee wishes at any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted time to assign this lease Sublease or further sublet the premises without Landlord's consent Premises, it shall first notify Lessor of its wish to do so and without first offering the premises shall submit in writing to Landlord if Lessor such financial and other information as Lessor may reasonably request concerning the proposed sublessee or assignee. Lessee's failure to comply with the provisions of this Section 18(C) shall entitle Lessor to withhold its consent to the proposed assignment or subletting. D. If Lessor consents to an assignment, sublease or assignee is other transfer by Lessee of all or any portion of Lessee's interests under this Sublease or the Premises. Lessee shall execute and deliver to Lessor and cause the transferee to execute and deliver to Lessor an entity owned by, controlled by, affiliated with, or is the Parent Company instrument in a form and substance reasonably acceptable to Lessor setting forth its written assumption of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreement.this

Appears in 1 contract

Sources: Sublease Agreement (Integrated Information Systems Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (ai) assign this agreementassign, convey, or underlet mortgage this Sublease or underlease any interest under it; (ii) allow any transfer of the premises Sublease or any lien upon Tenant’s interest by operation of law; (iii) sub-sublet all or any part thereof without of the Premises; or (iv) permit the occupancy of all or any part of the Premises by anyone other than Tenant, except with ▇▇▇▇▇▇▇▇’s prior written consent and Prime Landlord’s consent, in accordance with the terms of Landlord, which this Paragraph 12 and the Prime Lease; provided that consent will from Landlord shall not be required in connection with any “Permitted Transfer,” as such term is defined under Section 9.1(e) of the Prime Lease. ▇▇▇▇▇▇▇▇’s consent to an assignment of this Sublease or a sub-subletting of the Premises shall not be unreasonably withheld or delayed; providedwithheld, howeverand Landlord shall use commercially reasonable efforts to obtain the consent of Prime Landlord if its consent is required under the Prime Lease. If Prime Landlord grants its consent to any such transfer, that notwithstanding such assignment, Landlord shall be deemed to have granted its consent. Any reasonably incurred cost of obtaining Prime Landlord’s consent shall be borne by ▇▇▇▇▇▇. No permitted assignment shall be effective and no permitted sub- subletting shall commence unless and until any default by Tenant shall not thereby be relieved have been cured. No permitted assignment or sub-subletting shall relieve Tenant from responsibility hereunderits obligations under this Sublease, or (b) permit or suffer the premises or any part thereof and Tenant shall continue to be occupied for any business liable as a principal and not as a guarantor or purpose deemed disreputable surety, as though no assignment or extrasub-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had occurred.

Appears in 1 contract

Sources: Sublease (AltC Acquisition Corp.)

Assignment or Subletting. That should (a) Subject to the Tenant desire to assign provisions of subparagraph (b) of this agreement or underlet said premisesArticle, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreementor sublet its interests, or underlet any portion thereof, under this Lease without first obtaining Landlord's consent in writing, which consent may not be unreasonably withheld by Landlord. However, such assignment or underlease subletting shall not relieve Tenant of continuing direct and primary liability under the Lease. Consent in one instance shall not prevent this provision from applying to each subsequent instance. This provision shall apply to all transfers by operation of law including, but not limited to, mergers or any change of ownership of Tenant. (b) Tenant shall have the right to assign or sublet the premises to any of its subsidiaries or affiliates or any part thereof other entity controlled by the Tenant upon written notice to Landlord, provided that Tenant shall remain obligated under the provisions of this Lease. Upon such subletting or assignment, if requested by Landlord, Tenant shall execute a guarantee of the obligation of the performance of its affiliate or subsidiary of all terms of the Lease. No assignment or subletting shall relieve Tenant of continuing direct and primary liability under this Lease without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages . Landlord must approve anything and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementanyone regarding subletting.

Appears in 1 contract

Sources: Lease Agreement (Liquid Spins, Inc.)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose of purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this agreement Lease or underlet sublet said premisesDemised Premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior written consent of LandlordLessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor, which setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent will unreasonably. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be unreasonably withheld a waiver of Lessor's rights under this Article as to any subsequent assignment or delayed; providedsubletting. Lessor's rights to assign this Lease are and shall remain unqualified. No such assignment or subleasing shall relieve the Lessee from any of Lessee's obligations in this Lease contained, howevernor shall any assignment or sublease or other transfer of this Lease be effective unless the assignee, that notwithstanding sublessee or transferee shall at the time of such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages performed by Lessee and forfeiture. Tenant shall agree in writing to be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementbound thereby.

Appears in 1 contract

Sources: Office/Warehouse Lease (Navarre Corp /Mn/)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20a) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (ai) assign assign, convey or mortgage this agreement, Sublease or underlet any interest under it; (ii) allow any transfer thereof or underlease any lien upon Tenant’s interest by operation of law; (iii) further sublet the premises Premises or any part thereof; or (iv) permit the occupancy of the Premises or any part thereof without the prior by anyone other than Tenant. Landlord’s written consent to an assignment of Landlord, which consent will this Sublease or a further sublease of the Premises shall not be unreasonably withheld withheld, conditioned or delayed; provided, however, that notwithstanding such assignmentand if Landlord consents thereto, Tenant understands and agrees that the Prime Lease may require Prime Landlord’s consent to any such assignment or further sublease. Any cost of obtaining Prime Landlord’s consent shall not thereby be relieved from responsibility hereunder, or borne by Tenant. (b) permit No permitted assignment shall be effective and no permitted sublease shall commence unless and until any default by Tenant hereunder shall have been cured. No permitted assignment or suffer the premises or any part thereof subletting shall relieve Tenant from Tenant’s obligations and agreements hereunder and Tenant shall continue to be occupied for any business liable as a principal and not as a guarantor or purpose deemed disreputable surety to the same extent as though no assignment or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Sublease (Presbia PLC)

Assignment or Subletting. That should the Tenant desire agrees not to assign or in any manner transfer this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises Lease or any part thereof interest in this Lease without the prior written consent of Landlord, Landlord which consent will shall not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall and not thereby be relieved from responsibility hereunder, or (b) permit or suffer sublet the premises or any part thereof of the Premises or to be occupied for any business allow anyone to use or purpose deemed disreputable or extra-hazardous on account of fireto come in, under penalty of damages and forfeiture. Tenant shall be permitted not to assign this lease or sublet the premises Premises or any part of the remise allow through or under the Premises without Landlord's consent and which shall not be unreasonably withheld or delayed. Any attempted subletting or assignment without first offering Landlord's consent shall be voidable in Landlord's sole discretion and, at Landlord's option, shall grant Landlord the premises right to terminate this Lease or to exercise any of the other rights or remedies it may have hereunder. If consented to, no assignment or Subletting shall be binding upon Landlord unless the sublessee or assignee shall deliver to Landlord an instrument (in recordable form, if Landlord so requests) containing an agreement of assumption of all of Tenant's obligations under this Lease. In no event may Tenant assign, sublet or otherwise transfer this Lease or any interest in this Lease at any time while an Event of Default exists hereunder. Landlord may, in its sole discretion, refuse to give its consent to any proposed subletting or assignment or exercise its other rights hereunder for any reason, including, but not limited to, the financial condition, creditworthiness or business reputation of the proposed sublease sublessee or assignee is an entity owned assignee, the prevailing market or quoted rental rates for space in the Building or other comparable buildings, and the proposed use of the Premises by, controlled byor business of, affiliated withthe proposed sublessee or assignee. One consent by Landlord to a subletting or assignment will not be deemed a consent to any subsequent assignment, subletting, occupation or use by any other person. Neither the consent to any assignment or subletting nor the acceptance of rent from an assignee, subtenant or occupant will constitute a release of Tenant from the further performance of the obligations of Tenant contained in this Lease. A dissolution, merger, consolidation, or is other reorganization of Tenant, and the Parent Company issuance or transfer of TWENTY (20%) PERCENT OR MORE OF THE VOTING CAPITAL OF TENANT TO PERSONS other than shareholders as of the Tenant. In the event that the Tenant enters into beginning of such period within any twelve (12) month period, shall each be deemed to be an agreement to sell all assignment of its stock of Yardville National Bankthis Lease, it is permissible under the Lease Agreementand as such, prohibited without Landlord's prior written consent.

Appears in 1 contract

Sources: Lease Agreement (Advanced Systems International Inc)

Assignment or Subletting. That should the Tenant desire agrees not to assign or in any manner ------------------------ transfer this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises Lease or any part thereof interest in this Lease without the prior previous written consent of Landlord, and not to sublet the Premises or any part of the Premises or allow anyone to use or to come in, with, through or under it without like consent, which consent, in each case, will not be unreasonably withheld. Upon any attempted unconsented to assignment or sublease, Landlord shall have the right to terminate this Lease. One such consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such deemed a consent to any subsequent assignment, subletting, occupation or use by any other person. Any sublease on the Premises executed by Tenant shall and a third party must terminate when the Term of this Lease expires. The acceptance of rent from an assignee, subtenant or occupant will not thereby be relieved constitute a release of Tenant from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company further performance of the Tenantobligations of Tenant contained in this Lease. In the event that of any such assignment or sublease of all or any portion of the Premises where the rental or other consideration reserved in the sublease or by the assignment exceeds the rental or pro rata portion of the rental, as the case may be, for such space reserved in this Lease, Tenant enters into an agreement agrees to sell all pay Landlord monthly, as additional rent, on the Rent Day, the excess of its stock the rental net of Yardville National Bank, it is permissible under recovery of Tenant-paid improvement costs or other consideration reserved in the sublease or assignment over the rental reserved in this Lease Agreementapplicable to the subleased/assigned space.

Appears in 1 contract

Sources: Lease Agreement (Aastrom Biosciences Inc)

Assignment or Subletting. That should the A. Tenant desire to assign shall not, without Landlord's and Prime Landlord's prior written consent, (i) assign, convey or mortgage this agreement Sublease or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment any interest under it; (ii) allow any transfer thereof or underletting offered or not respond within twenty (20) days of receipt of any lien upon Tenant's written offer, then Tenant shall be allowed to assign this agreement interest by operation of law; (iii) further sublet the Premises or underlet any part thereof; or (iv) permit the premises provided that occupancy of the Tenant shall not (a) assign this agreement, or underlet or underlease the premises Premises or any part thereof without by anyone other than Tenant. If Landlord consents to an assignment of this Sublease or a further sublease of the prior written Premises, then Landlord and Tenant shall, at Tenant's sole cost and expense, including reasonable attorney's fees, use reasonable efforts to obtain the consent of Landlord, which Prime Landlord if such consent will not be unreasonably withheld is required under the Prime Lease. If Tenant desires to assign the Sublease or delayed; provided, however, that notwithstanding such assignmentto further sublease the Premises, Tenant shall not thereby be relieved from responsibility hereunderdeliver written notice thereof to Landlord, together with a copy of the proposed assignment or sublease agreement at least sixty (60) days prior to the effective date of the proposed assignment, or (b) permit the proposed commencement date of the term of the proposed sublease. B. No permitted assignment shall be effective and no permitted sublease shall commence unless and until any default by Tenant hereunder shall have been cured. No permitted assignment or suffer the premises or any part thereof subletting shall relieve Tenant from Tenant's obligations and agreements hereunder and Tenant shall continue to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises liable to Landlord if as a principal and not as a guarantor or surety to the proposed sublease same extent as though no assignment or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Sublease (Taylor Capital Group Inc)

Assignment or Subletting. That should the Tenant desire to assign acknowledges that Landlord has entered into this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt Lease because of Tenant's written offer’s financial strength, then Tenant shall be allowed goodwill, ability and expertise and that accordingly, this lease is personal to assign Tenant. Taking this agreement or underlet the premises provided that the Tenant into consideration, tenant shall not (a) assign assign, mortgage, sublet, pledge or encumber this agreementLease, in whole or underlet or underlease in part, except with the premises or any part thereof without the prior written consent of the Landlord, which consent will shall not be unreasonably withheld or delayed; provided. Tenant agrees that, however, that notwithstanding in the event of any such assignmentassignment or subletting, Tenant shall not thereby be relieved from responsibility hereundernevertheless remain liable for the performance of all terms, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account covenants, and conditions of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the TenantLease. In the event that the Landlord consents to an assignment of the Lease, any money or consideration to be paid to Tenant for the assignment shall be paid to the Landlord as partial consideration for the Landlord’s consent to the assignment. In the event the Landlord consents to a sublease of the Premises, or any portion thereof, Tenant shall pay to the Landlord a sum equal to (1) any money, rent or other consideration paid to the Tenant enters into an agreement by any subtenant in excess of the pro-rata portion of the rent for such space then being paid by Tenant to sell all of its stock of Yardville National Bank, it is permissible Landlord under this Lease and (2) any other profit or gain realized by the Lease AgreementTenant from such subletting. All sums payable hereunder by Tenant shall be paid to Landlord as additional rent immediately upon the receipt thereof by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Macrogenics Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the A. Tenant shall not (ai) assign assign, convey or mortgage this agreement, Sublease or underlet any interest under it; (ii) allow any transfer thereof or underlease any lien upon Tenant's interest by operation of law; (iii) further sublet the premises Sub-leased Premises or any part thereof; or (iv) permit the occupancy of the Sub-leased Premises or any part thereof without by anyone other than Tenant. Landlord's consent to an assignment of this Sublease or a further sublease of the prior written consent of Landlord, which consent will Sub-leased Premises shall not be unreasonably withheld or delayed; providedwithheld, howeverand if Landlord consents thereto, that notwithstanding Landlord shall use reasonable efforts to obtain the consent of Prime Landlord if such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof consent is required to be occupied for any business or purpose deemed disreputable or extra-hazardous on account obtained under the Prime Lease. Any cost of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without obtaining Prime Landlord's consent shall be borne by Tenant. B. No permitted assignment shall be effective and without first offering no permitted sublease shall commence unless and until any default by Tenant hereunder shall have been cured. No permitted assignment or subletting shall relieve Tenant from Tenant's obligations and agreements hereunder and Tenant shall continue to be liable as a principal and not as a guarantor or surety to the premises to Landlord if the proposed sublease same extent as though no assignment or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Purchase Agreement (Stockgroup Information Systems Inc)

Assignment or Subletting. That Lessee agrees to use and occupy the Demised Premises throughout the entire term hereof for the purpose herein specified and for no other purposes, in the manner and to substantially the extent intended, and not to transfer or assign this Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, otherwise, without obtaining the prior consent of Lessor in each instance. Lessee shall seek such consent of Lessor by a written request thereof setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent unreasonably. Consent to any assignment or subletting shall not relieve Lessee of its obligations hereunder. Consent by Lessor to an assignment of this Lease or to any subletting of the Demised Premises should the Tenant desire not be a waiver of Lessor's rights under this Article as to any subsequent assignment or subletting. Lessor's rights to assign this agreement Lease are and should remain unqualified. No such assignment or underlet said premisessublease or other transfer of this Lease shall be effective unless the assignee, it sublessee or transferee shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days time of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease, fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Office/Warehouse Lease (Childrens Broadcasting Corp)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant A. Subtenant shall not (ai) assign assign, convey or mortgage this agreementSublease or any interest under it; (ii) allow any transfer thereof or any lien upon Subtenant's interest by operation of law; (iii) further sublet the Premises or any part thereof, or underlet or underlease (iv) permit the premises occupancy of the Premises or any part thereof by anyone other than Subtenant without the prior written consent of Landlord, which Sublandlord and Prime Landlord and subject to all other subletting requirements in the Prime Lease. Sublandlord's consent will to an assignment of this Sublease or a further sublease of the Premises shall not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account withheld. Any cost of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without obtaining Prime Landlord's consent shall be borne by Subtenant. B. No permitted assignment shall be effective and without first offering no permitted sublease shall commence unless and until any default by Subtenant hereunder shall have been cured. No permitted assignment or subletting shall relieve Subtenant from Subtenant's obligations and agreements hereunder and Subtenant shall continue to be liable as a principal and not as a guarantor or surety to the premises to Landlord if the proposed sublease same extent as though no assignment or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Sublease (Aquantive Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the A. Tenant shall not (ai) assign assign, convey or mortgage this agreement, Sublease or underlet any interest under it; (ii) allow any transfer thereof or underlease any lien upon Tenant's interest by operation of law; (iii) further sublet the premises Premises or any part thereof; or (iv) permit the occupancy of the Premises or any part thereof by anyone other than Tenant, without the Landlord's prior written consent. Landlord's consent to an assignment of Landlord, which consent will this Sublease or a further sublease of the Premises shall not be unreasonably withheld withheld, and if Landlord consents thereto, Landlord shall use reasonable efforts to obtain the consent of Prime Landlord if such consent is required to be obtained under the Prime Lease. Prime Landlord's refusal to consent to such an assignment or delayed; provided, however, that notwithstanding such assignment, Tenant sublease shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof deemed to be occupied for any business or purpose deemed disreputable or extra-hazardous on account an unreasonable withholding of fire, under penalty consent by Landlord hereunder. Any cost of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without obtaining Prime Landlord's consent shall be borne by Tenant. B. No permitted assignment shall be effective and without first offering no permitted sublease shall commence unless and until any default by Tenant hereunder shall have been cured. No permitted assignment or subletting shall relieve Tenant from Tenant's obligations and agreements hereunder and Tenant shall continue to be liable as a principal and not as a guarantor or surety to the premises to Landlord if the proposed sublease same extent as though no assignment or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Sublease (American National Can Group Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20a) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not assign its interest under this lease or sublet all of the Leased Premises, nor shall Tenant mortgage or hypothecate this lease or Tenant's interest in and to the Leased Premises (a) assign this agreementhereinafter collectively referred to as "Transfer"), or underlet or underlease the premises or any part thereof without the prior written consent of Landlord. Consent by Landlord to any Transfer shall not constitute a waiver of the necessity for such consent to any subsequent Transfer. Any Transfer by Tenant in accordance with this Section shall be only for the purposes specified in Section 1.1(e) hereof and for no other purpose, and in no event shall any Transfer release or relieve Tenant from any obligations of this lease. (b) If the Tenant is a corporation (other than one whose shares are regularly and publicly traded on a recognized stock exchange), any change in the ownership (legal or equitable) of and/or power to vote fifty (50%) percent or more of the outstanding capital stock of Tenant, whether such change of ownership is by sale, assignment, bequest, inheritance, operation of law or otherwise, shall be deemed a Transfer and shall be subject to the provisions of this Section. (c) Notwithstanding anything to the contrary contained in this lease, Tenant shall have the right to sublet a part (but not all) of the Leased Premises or to enter into license or concession agreements for part (but not all) of the Leased Premises with Landlord's prior written consent (which consent will shall not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreement.)

Appears in 1 contract

Sources: Lease Agreement (Western Beef Inc /De/)

Assignment or Subletting. That should Tenant agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose or purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this agreement Lease or underlet sublet said premisesDemised Premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior written consent of Landlord, Landlord in each instance which consent will not be unreasonably withheld withheld, conditioned, denied or delayed; provided, however, . Tenant acknowledges that notwithstanding such assignment, it shall be reasonable for Landlord to condition its consent on Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or curing any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, then existing defaults under penalty of damages and forfeiturethis Lease. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's seek such consent and without first offering the premises to of Landlord if the proposed sublease or assignee is an entity owned byby a written request therefor, controlled by, affiliated with, or is the Parent Company of the Tenantsetting forth such information as Landlord may reasonably deem necessary. In the event that Tenant proposes to sublease all of the Demised Premises for the entire remaining term of the Lease or assign the Lease for the entire remaining term of the Lease, Landlord will have the option to terminate this Lease and enter into a direct lease with Tenant's proposed sublessee or assignee. In the event of such termination, Tenant shall have no further liability under this Lease. Consent by Landlord to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Landlord's rights under this Article as to any subsequent assignment or subletting. Landlord's rights to assign this Lease are and shall remain unqualified provided assignee assumes Landlord's obligations hereunder excluding assignment to a lender for security purposes. No such assignment or subleasing shall relieve the Tenant enters into an agreement to sell from any of Tenant's obligations in this Lease contained, nor shall any assignment or sublease or other transfer of this Lease be effective unless the assignee, subtenant or transferee shall at the time of such assignment, sublease or transfer, assume in writing for the benefit of Landlord, its successors and assigns, all of the terms, covenants and conditions of this Lease thereafter to be performed by Tenant and shall agree in writing to be bound thereby. Should Tenant sublease all or a portion of the Demised Premises for the balance of the lease term in accordance with the terms of this Lease, and if Landlord, at its stock option, releases Tenant from any further liability for the portion of Yardville National Bankthe Demised Premises so subleased, it the increase, after recovery in full by Tenant of all reasonable costs associated with such sublease, in rental received by Tenant over the per square foot rental rate which is permissible being paid by Tenant shall be forwarded to and retained by Landlord, which increase shall be in addition to the Base Rent and Additional Rent due Landlord under this Lease. Should Tenant sublease under any other circumstances in accordance with the Lease Agreementterms of this Lease, one-half of any increase, after recovery in full by Tenant of all costs associated with such sublease, in rental received by Tenant over the per square foot rental rate which is being paid by Tenant shall be forwarded to and retained by Landlord, which increase shall be in addition to the Base Rent and Additional Rent due Landlord under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Mgi Pharma Inc)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose of purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this agreement Lease or underlet sublet said premisesDemised Premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior written consent of LandlordLessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor, which setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent will unreasonably. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be unreasonably withheld a waiver of Lessor's rights under this Article as to any subsequent assignment or delayed; providedsubletting. Lessor's rights to assign this Lease are and shall remain unqualified. No such assignment or subleasing shall relieve the Lessee from any of Lessee's obligations in this Lease contained, howevernor shall any assignment or sublease or other transfer of this Lease be effective unless the assignee, that notwithstanding sublessee or transferee shall at the time of such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease, fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Office/Warehouse Lease (Medwave Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; : provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreement.

Appears in 1 contract

Sources: Office Lease (Yardville National Bancorp)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant The Lessee shall not (a) assign nor permit any assignment by mortgage, operation of law or otherwise of this agreement, or Lease nor underlet or underlease any portion of the demised premises nor permit the occupation of the whole or any part thereof by another by license or otherwise without the prior written consent of Landlordthe Lessor, which consent will shall not be unreasonably withheld or delayed; provided, however, that notwithstanding such ureasonably witheld. No consent by the Lessor to an assignment, Tenant sublease or other indulgence or favor at any time granted by the Lessor to Lessee or to anyone claiming under the Lessee, nor acceptance of rent from or otherwise dealing with, anyone claiming under the Lessee, shall be deemed to constitute any consent to any further assignment, sublease or otherwise or relieve the Lessee from its obligations under this Lease and Lessee hereby guarantees the prompt and timely payment of all rent, additional rent and other charges hereunder. It shall be a condition of the validity of any such assignment or underletting that the assignee or sublessee agrees directly with Lessor by written instrument in form satisfactory to Lessor to be bound by all the obligations of the Lessee hereunder, including without limitation the obligation to pay rent and other amounts provided for under this Lease and the covenant against further assignment and subletting. Any transfer or assignment of any of the stock or other equity interest in Lessee shall be deemed to constitute an assignment barred by this Article XI (except that the provisions of this sentence shall not thereby be relieved from responsibility apply to the original Lessee hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of firenamely Centennial Technologies, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementInc.).

Appears in 1 contract

Sources: Lease Agreement (Centennial Technologies Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the 10.1 Tenant shall not (a) have the right to assign the option contained in Article 14 or this agreement, or underlet or underlease Lease. Tenant may sublease the premises or Premises to any part thereof sublessee for any Permitted Use without Landlord’s consent provided any such sublessee agrees to comply with all terms of this Lease. Any use other than a Permitted Use shall require the prior written consent of Landlord, which consent will shall not be unreasonably withheld or delayed; provided, however, that notwithstanding such withheld. Consent to one assignment, subletting, or use by any person other than Tenant shall not thereby be relieved from responsibility hereunderdeemed to be consent to a subsequent assignment, subletting, or (b) permit use by any other person. In considering whether or suffer not to grant such consent, Landlord may consider, among other things, the premises proposed tenant's use, character, credit, and professional standing. Any assignment or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account subletting not in compliance with the provisions of fire, under penalty of damages and forfeiture. Tenant this paragraph shall be permitted to assign this lease or sublet a material breach of the premises without Lease, voidable and, at Landlord's consent and without first offering the premises to option, shall terminate this Lease. No subletting or assignment shall relieve Tenant from liability hereunder unless Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company executes a written release of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementfrom such liability.

Appears in 1 contract

Sources: Lease and Purchase Option Agreement

Assignment or Subletting. That should A. Neither this Lease nor any interest therein nor claim hereunder shall be assigned or transferred by the Tenant desire to Lessor without the Lessee’s prior written consent. Such consent shall not be unreasonably withheld. B. Lessee may assign this agreement Lease, in whole or underlet said premisesin part, it shall first offer same to Landlord at the rental set forth hereinDOE or to such party as DOE may designate to perform Lessee’s obligations hereunder. Should Landlord not accept the Upon receipt by Lessor of written notice that DOE or a party so designated by DOE or Lessee has accepted an assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offerthis Lease, then Tenant Lessee shall be allowed relieved of all responsibility hereunder and thereafter Lessor shall look solely to assign such assignee for performance of Lessee’s obligations. C. Lessee will not encumber this agreement Lease or underlet sublet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof Premises without the prior Lessor’s written consent of Landlordconsent, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiturewithheld. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under Should the Lease Agreementbe sublet as provided in this Clause, Lessee will remain primarily liable on this Lease, but Lessor, at its option, may demand payment of rent from Lessee or Lessee’s sub-lessees.

Appears in 1 contract

Sources: Lease Agreement

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign assign, mortgage or encumber this agreement, Lease nor sublet or underlet or underlease permit the premises Leased Premises or any part thereof to be used by others, without the prior written consent of LandlordLandlord in each instance, which consent shall not be unreasonably withheld, or delayed. The consent by Landlord to an assignment or subletting shall not be construed to relieve Tenant from obtaining the consent of the Landlord to any further assignment or subletting. The consent by Landlord will not be unreasonably withheld given unless: a) the subtenant or delayed; providedassignee assumes the Tenant's obligations under this Lease, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (and b) permit Tenant remains liable for all its obligations under this Lease, including extensions or suffer the premises or any part thereof to renewals provided for herein. Nor will consent be occupied for any business or purpose deemed disreputable or extra-hazardous on account given if Tenant is in default of fire, under penalty of damages and forfeiturethis Lease. Tenant shall notify Landlord of the name of each proposed assignee or subtenant and shall provide information to Landlord pursuant to the financial standing of the proposed assignee or subtenant and shall offer to surrender such space to Landlord. Any subtenant controlled rent or other gain or profit in excess of the base rent and additional rent then being paid by Tenant pursuant to this Lease realized by Tenant from such assignment or subletting shall be permitted shared by Tenant - 50% and Landlord - 50% as additional rent, except in the case of a sublease or assignment to an affiliate or subsidiary of Tenant, in which case Tenant shall retain 100% of any excess profit. Tenant shall have the absolute right without the consent of Landlord, but upon notice to Landlord, to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible rights under the Lease Agreementto any parent, subsidiary and/or affiliate of Tenant so long as such assignment does not decrease the value of Tenant and provided that Tenant shall remain liable for the full performance of all obligations of Tenant under this Lease and provided that Tenant is not in default under this Lease.

Appears in 1 contract

Sources: Sublease Agreement (Xanodyne Pharmaceuticals Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the make no assignment or underletting offered subletting, nor shall Tenant enter into license or not respond within twenty (20) days of receipt of concession agreements or mortgage or hypothecate this Lease or Tenant's written offer, then Tenant shall be allowed ’s interest in and to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises Premises or any part thereof or permit any other party to conduct business or manage the Premises or control the operation thereof (hereinafter collectively referred to as “Transfer”), without the prior written consent of Landlord, which consent will shall not be unreasonably withheld or delayed; providedwithheld. Consent by Landlord to any Transfer shall not constitute a waiver of the necessity for such consent to any subsequent Transfer. Any Transfer by Tenant in accordance with this Section shall be only for the purposes and use hereinabove specified and for no other purpose, howeverand in no event shall any Transfer release for relieve Tenant from any obligations under this Lease. Any permitted transferee shall assume Tenant’s obligations hereunder and shall deliver to Landlord an assumption agreement in form satisfactory to Landlord within ten (10) days after the effective date of the assignment. Tenant agrees to pay Landlord’s attorney’s fees incurred in connection with the review and/or preparation of any documents in connection with any Transfer, that notwithstanding such assignmentand in the event of a Transfer for rentals in excess of those rentals reserved hereunder, Tenant shall not thereby be relieved from responsibility hereunderpay all of such excess rent to Landlord. If the Tenant is a corporation, partnership or other business entity, any change in the ownership (blegal or equitable) permit of and/or (in the case of a corporation) in the power to vote fifty (50%) percent or suffer more of the premises outstanding capital stock of Tenant, whether such change of ownership is by sale, assignment, operation of law or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fireotherwise, under penalty of damages and forfeiture. Tenant shall be permitted deemed a Transfer and shall be subject to assign the provisions of this lease or sublet the premises Section. Any attempted Transfer without Landlord's ’s consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned byshall not be binding upon Landlord, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementshall confer no rights upon any third person.

Appears in 1 contract

Sources: Standard Retail Space Lease (FlexShopper, Inc.)

Assignment or Subletting. That should 8.1 Except with the Tenant desire prior written consent of Master Landlord (subject to assign this agreement provisions of 9.1 and 9.5 of the Master Lease) and Sublandlord, which consent shall not be withheld or underlet said premisesdelayed if Master Landlord consents, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant Subtenant shall not (a) assign assign, convey or mortgage this agreement, Sublease or underlet any interest under it; (b) allow any transfer thereof or underlease any lien upon Subtenant’s interest by operation of law; (c) further sublet the premises Premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (bd) permit or suffer the premises occupancy of the Premises or any part thereof by anyone other than Subtenant. Master Landlord’s consent to any assignment or Sublease of this Sublease shall be in accordance with the Master Lease Sublandlord shall use reasonable efforts to obtain the consent of Master Landlord. All costs of obtaining Master Landlord’s and Sublandlord’s consent (including legal fees) shall be borne by Subtenant. Sublandlord shall not be required to consent to any assignment or Sublease by Subtenant where Master Landlord withholds its consent. 8.2 No permitted assignment shall be effective and no permitted sublease shall commence unless and until any Default by Subtenant hereunder has been cured. No permitted assignment or subletting shall relieve Subtenant from Subtenant’s obligations and agreements under this Sublease and Subtenant shall continue to be occupied liable as a principal and not as a guarantor or surety, to the same extent as though no assignment or subletting had been made. Consent to any assignment or sublease shall not be deemed to release Subtenant from its requirement to obtain consent for any business future assignment or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsublease.

Appears in 1 contract

Sources: Sublease (Conceptus Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreementassign, mortgage, or underlet encumber this Lease nor sublet or underlease permit the premises Premises or any part thereof to be used by others, without the prior written consent of Landlord, which consent will shall not be unreasonably withheld withheld. It is acknowledged and agreed that Landlord shall have the right to withhold its consent to any such subletting to the extent that the intended use of the Premises by such subtenant is objectionable to Landlord or delayed; provided, however, such subtenant does not have a substantiable net worth equal to or greater than that notwithstanding such assignmentof the Tenant as of the date of the Lease. If this Lease is assigned by Tenant or if the Tenant sublets the Premises for rent in excess of the Rent payable hereunder, Tenant shall not thereby be relieved from responsibility hereunder, pay any such excess to Landlord. If this Lease is assigned or (b) permit or suffer if the premises Premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated withsublet, or is occupied other than by Tenant, Landlord, in the Parent Company event of default by Tenant, may collect rent directly from the assignee, subtenant, or occupant and apply the amount collected to the Rent due from Tenant. In Such action by Landlord shall not constitute a waiver of this provision nor a release of Tenant from any obligation under this Lease. The consent of Landlord to an assignment or subletting shall not be construed to relieve Tenant from obtaining the event that the Tenant enters into an agreement written consent of Landlord to sell all of its stock of Yardville National Bank, it is permissible any further assignment or subletting. Any assignment or subletting under this Lease automatically cancels any options to extend the Lease AgreementTerm which have been granted hereunder.

Appears in 1 contract

Sources: Lease Agreement (Metromedia International Group Inc)

Assignment or Subletting. That should Tenant agrees to use and occupy the Demised Premises throughout the entire term hereof for the purpose or purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended, and not to transfer or assign this Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Landlord in each instance. Tenant desire shall seek such consent of Landlord by a written request, setting forth such information as Landlord may deem necessary. Landlord agrees not to withhold consent unreasonably. Consent by Landlord to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Landlord's rights under this Article as to any subsequent assignment or subletting. Landlord's rights to assign this agreement or underlet said premises, it Lease are and shall first offer same to Landlord at the rental set forth hereinremain unqualified. Should Landlord not accept the No such assignment or underletting offered or not respond within twenty (20) days of receipt subleasing shall relieve the Tenant from any of Tenant's written offerobligations in this Lease contained nor shall any assignment or sublease or other transfer of this Lease be effective unless the assignee, then sublessee, or transferee shall at the time of such assignment, sublease, or transfer, assume in writing for the benefit of Landlord, its successors, or assigns, all of the terms, covenants, and conditions of this Lease thereafter to be performed by Tenant and shall agree in writing to be bound thereby. Should tenant sublease in accordance with the terms of this Lease, fifty percent (50%) of any increase in rental received by Tenant over the per square foot rental rate which is being paid by Tenant shall be allowed forwarded to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of and retained by Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase shall be permitted in addition to assign the Base Rent and Additional Rent due Landlord under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Office/Warehouse Lease (Fieldworks Inc)

Assignment or Subletting. That should Lessee agrees to use and occupy the Tenant desire Demised Premises throughout the entire term hereof for the purpose of purposes herein specified and for no other purposes, in the manner and to substantially the extent now intended and not to transfer or assign this Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Lessor in each instance. Lessee shall seek such consent of Lessor by a written request therefor setting forth such information as Lessor may deem necessary. Lessor agrees not to withhold consent unreasonably. Consent by Lessor to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Lessor's rights under this Article as to any subsequent assignment or subletting. Lessor's rights to assign this agreement Lease are and shall remain unqualified. No such assignment or underlet said premisessubleasing shall relieve the Lessee from any of Lessee's obligations in this Lease contained, it nor shall first offer same to Landlord any assignment or sublease or other transfer of this Lease be effective unless the assignee, sublessee or transferee shall at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days time of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereundersublease or transfer, assume in writing for the benefit of Lessor, its successors or (b) permit or suffer assigns, all of the premises or any part thereof terms, covenants and conditions of this Lease thereafter to be occupied for performed by Lessee and shall agree in writing to be bound thereby. Should Lessee sublease in accordance with the terms of this Lease. fifty percent (50%) of any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant increase in rental received by Lessee over the per square foot rental rate which is being paid by Lessee shall be permitted forwarded to assign and retained by Lessor, which increase shall be in addition to the Base Rent and Additional Rent due Lessor under this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease AgreementLease.

Appears in 1 contract

Sources: Office/Warehouse Lease (Expresspoint Technology Systems Inc)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord Lessee will not accept the assignment or underletting offered or not respond within twenty (20) days sublet any part of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof assign this Agreement without the prior written consent of LandlordLessor, which consent will shall not be unreasonably withheld withheld. Any such assignment or delayed; providedsubletting without consent shall be void and, howeverat the option of the Lessor, that notwithstanding may terminate this Lease. No assignment or transfer of this Lease by ▇▇▇▇▇▇ consented to by Lessor shall be effective, unless the assignee or transferee shall, at the time of such assignmentassignment or transfer, Tenant assume all the terms, covenants and conditions of this Lease thereafter to be performed by ▇▇▇▇▇▇ and shall not thereby agree to be relieved bound thereby. Notwithstanding such assignment or transfer or the acceptance by Lessor from responsibility such assignee of any rent or other monies or other performance of the obligations of Lessee hereunder, Lessee shall remain liable and obligated as a principal (and not as a surety or (bguarantor) permit to perform all the terms, conditions and covenants, including the payment of rental and other monies, herein provided to be performed by ▇▇▇▇▇▇. Notwithstanding the foregoing provisions, ▇▇▇▇▇▇ acknowledges and agrees that Lessee may sublet or suffer the premises or assign any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the TenantPremises to another agency that works with Lessee in its mission of providing a learning center or related services consistent with ▇▇▇▇▇▇’s use in the adjoining building (each an “Allowed User”). In the event that Lessee assigns or sublets any portion of the Tenant enters into Premises to an agreement to sell all Allowed User, Lessee shall be solely responsible for any collection of its stock rents from such Allowed User, and such Allowed User shall be responsible for complying with the terms of Yardville National Bank, it is permissible under the Lease Agreementthis Lease.

Appears in 1 contract

Sources: Commercial Lease Agreement

Assignment or Subletting. That should the Tenant desire to assign expressly covenants that it will not assign, mortgage or encumber this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit nor under-let or suffer or permit the demised premises or any part thereof to be used by others without the prior written consent of the Landlord in each instance. If this lease be assigned or if the demised premises or any part thereof be under-let or occupied for any business by anyone other than the Tenant without the expressed written consent of the Landlord had and obtained, Landlord may collect rent from the assignee, under-tenant or purpose deemed disreputable occupant and apply the net amount collected to all rent herein reserved, but no assignment, under-letting, occupancy or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant collection shall be permitted to assign deemed a waiver of this lease covenant or sublet the premises without Landlord's consent and without first offering acceptance of the premises to Landlord if the proposed sublease assignee, under-tenant or assignee is an entity owned by, controlled by, affiliated withoccupant as tenant, or is the Parent Company a release of the performance of the covenants on Tenant’s part herein contained. In the event that Tenant sublets within the premises, subject to the written approval of Landlord, and said sub-let agreement is in excess of rent monies agreed to by the parties in this agreement, all monies to be received by Tenant enters into pursuant to said sub-lease agreement shall be payable to Landlord notwithstanding said rental shall be in excess of monthly rental agreed heretofore by and between the parties. In the event the Landlord’s written consent is given to an agreement assignment or sub-letting, the Tenant, shall, nevertheless, remain liable to sell perform all of its stock of Yardville National Bank, it is permissible under the Lease Agreementcovenants and conditions thereto and to guarantee such performance by his assignee or sub-tenant.

Appears in 1 contract

Sources: Lease Agreement (Value Financial Services, Inc.)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without 12.1 Without the prior written consent of Landlord, Sublandlord (which consent will shall not be unreasonably withheld or delayed; providedwithheld) and of Prime Landlord (but only when required in accordance with the Prime Lease), however, that notwithstanding such assignment, Tenant Subtenant shall not thereby be relieved from responsibility hereunder(i) assign, convey or mortgage this Sublease or any interest under it, (bii) permit allow any transfer thereof or suffer any lien upon Subtenant’s interest by operation of law, (iii) further sublet the premises Sublease Premises or any part thereof except to an Affiliate or (iv) permit the occupancy of the Sublease Premises or any part thereof by anyone other than Subtenant or an Affiliate (other than a licensee or concessionaire providing an exclusive service to Subtenant or an Affiliate). If Sublandlord consents thereto, Sublandlord shall use reasonable efforts to obtain the consent of Prime Landlord if such consent is required to be occupied for obtained under the Prime Lease, provided however, that any business or purpose deemed disreputable or extra-hazardous on account cost of fire, under penalty of damages and forfeiture. Tenant obtaining Prime Landlord’s consent shall be borne by Subtenant. 12.2 No permitted assignment shall be effective and no permitted sublease shall commence unless and until any and all Events of Default by Subtenant then existing hereunder shall have been cured. No permitted assignment or subletting shall relieve Subtenant from Subtenant’s obligations and agreements hereunder and Subtenant shall continue to assign this lease be liable as principal and not as guarantor or sublet surety to the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease same extent as through no assignment or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Sublease (Integral Systems Inc /Md/)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant Sublessee shall not (ai) assign assign, convey or mortgage this agreement, Sublease or underlet any interest under it; (ii) allow any transfer thereof or underlease any lien upon Sublessee’s interest by operation of law; (iii) further sublet the premises Premises or any part thereof; or (iv) permit the occupancy of the Premises or any part thereof without by anyone other than Sublessee. Sublessor’s consent to an assignment of this Sublease or a further sublease of the prior written consent of Landlord, which consent will Premises shall not be unreasonably withheld or delayed; providedwithheld, howeverand if Sublessor consents thereto, that notwithstanding Sublessor shall use reasonable efforts to obtain the consent of Lessor if such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof consent is required to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, obtained under penalty of damages and forfeiturethe Prime Lease. Tenant No permitted assignment shall be effective and no permitted sublease shall commence unless and until any default by Sublessee hereunder shall have been cured. No permitted assignment or subletting shall relieve Sublessee from Sublessee’s obligations and agreements hereunder and Sublessee shall continue to assign this lease be liable as a principal and not as a guarantor or sublet surety to the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease same extent as though no assignment or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the Tenant. In the event that the Tenant enters into an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementsubletting had been made.

Appears in 1 contract

Sources: Sublease Agreement (Coldwater Creek Inc)

Assignment or Subletting. That should Tenant agrees to use the Demised Premises throughout the entire term hereof for the purpose herein specified and for no other purposes, and, except as to an “Intracorporate Transfer” (as defined below), not to transfer or assign this Lease or sublet said Demised Premises, or any part thereof, whether by voluntary act, operation of law, or otherwise, without obtaining the prior consent of Landlord in each instance. Tenant desire shall seek such consent of Landlord by a written request therefor, setting forth such information as Landlord may reasonably deem necessary. Landlord agrees not to withhold, delay or condition consent unreasonably. Consent by Landlord to any assignment of this Lease or to any subletting of the Demised Premises shall not be a waiver of Landlord’s right under this Article as to any subsequent assignment or subletting. Landlord’s rights to assign this agreement Lease are and shall remain unqualified. No such assignment or underlet said premisessubleasing shall relieve the Tenant from any of Tenant’s obligations in this Lease contained, it nor shall first offer same to Landlord any assignment or sublease or other transfer of this Lease be effective unless the assignee, subtenant or transferee shall at the rental set forth hereintime of such assignment, sublease or transfer, assume in writing for the benefit of Landlord, its successors or assigns, all of the terms, covenants, and conditions of this Lease thereafter to be performed by Tenant and shall agree in writing to be bound thereby. Should Landlord not accept Tenant sublease in accordance with the assignment or underletting offered or not respond within twenty terms of this Lease, fifty percent (2050%) days of receipt of Tenant's written offer, then any increase in aggregate rental received by Tenant over the per square foot rental rate which is being paid by Tenant shall be allowed forwarded to assign and retained by Landlord, which increase shall be in addition to the Base Rent and Additional Rent due Landlord under this agreement or underlet Lease. Notwithstanding the premises provided that foregoing to the contrary, Tenant shall not (a) assign this agreementhave the right, or underlet or underlease the premises or any part thereof upon notice to but without the prior written consent of Landlord, to assign this Lease or sublet the Demised Premises to a corporation, person or entity which: (i) is a corporation, person or entity in which consent will not be unreasonably withheld Tenant, Tenant’s parent or delayedan affiliate of Tenant owns, or the shareholders of Tenant or Tenant’s parent corporation own, in excess of fifty percent (50%) of the outstanding capital stock or ownership interest; providedor (ii) as a result of a consolidation, howevermerger or other reorganization with Tenant and/or Tenant’s parent corporation; or (iii) acquires or is acquiring all or substantially all of the outstanding capital stock or assets of Tenant or Tenant’s parent; or (iv) as a result of a change of the domicile of Tenant or the reincorporation of Tenant in another jurisdiction, that notwithstanding such assignmentshall own all or substantially all of the assets of Tenant (collectively, an “Intracorporate Transfer”). (a) Tenant shall not thereby be relieved from responsibility hereunderremain fully liable during the unexpired term of this Lease, including any exercised renewal or extension options; (b) permit the assignee or suffer subtenant pursuant to (ii) or (iii) shall assume the premises obligations of Tenant under this Lease without thereby releasing the Tenant; and (c) any such assignment or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fire, under penalty of damages and forfeiture. Tenant subletting shall be permitted subject to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company all of the Tenant. In the event that the Tenant enters into an agreement to sell all terms, covenants and conditions of its stock of Yardville National Bank, it is permissible under the Lease Agreementthis Lease.

Appears in 1 contract

Sources: Commercial Lease (Thoratec Corp)

Assignment or Subletting. That should Tenant may not assign, transfer or encumber this Lease or sublet all or a portion of the Tenant desire to assign this agreement Premises or underlet said premises, it shall first offer same to Landlord at permit the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign this agreement, or underlet or underlease the premises or any part thereof without the prior written consent of Landlord, which consent will not be unreasonably withheld or delayed; provided, however, that notwithstanding such assignment, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises Premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account of fireused by another, under penalty of damages and forfeitureunless Tenant has obtained Landlord’s prior written consent, which consent shall not be unreasonably withheld. Tenant shall be permitted have the right, upon Notice to Landlord, without consent of the Landlord, to assign this lease the Lease or sublet all or any portion of the premises without leased Premises to the following: (a) any entity resulting from a merger or consolidation with Tenant; (b) any entity succeeding to the business and assets of Tenant; (c) any subsidiary or affiliate of Tenant; (d) any entity which is part of or affiliated with Learning Tree International Inc. Without in any way limiting Landlord's ’s right to refuse its consent for other serious reasons and without first offering notwithstanding any Laws to the premises contrary, Landlord’s refusal of consent shall be deemed to be for a serious reason in respect of an assignment, sublease, use or other transfer if: (a) Landlord if is not satisfied with the creditworthiness, reputation or business of the proposed sublease assignee or assignee subtenant; or (b) the assignee, subtenant or user proposed by Tenant is an entity owned by, controlled by, affiliated with, or is the Parent Company then a tenant of the Tenant. In Building and Landlord has or will have during the event that next 6 months suitable space for rent in the Tenant enters into Building; or (c) the proposed assignee, subtenant or user intends to use the Premises to carry on a business which could breach an agreement to sell all of its stock of Yardville National Bank, it is permissible under the Lease Agreementexclusivity clause granted by Landlord.

Appears in 1 contract

Sources: Standard Office Lease (Learning Tree International Inc)

Assignment or Subletting. That should the Tenant desire to assign acknowledges that Landlord has entered into this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt Lease because of Tenant's written offer’s financial strength, then Tenant shall be allowed goodwill, ability and expertise and that accordingly, this lease is personal to assign Tenant. Taking this agreement or underlet the premises provided that the Tenant into consideration, tenant shall not (a) assign assign, mortgage, sublet, pledge or encumber this agreementLease, in whole or underlet or underlease in part, except with the premises or any part thereof without the prior written consent of the Landlord, which consent will shall not be unreasonably withheld or delayed; provided. Tenant agrees that, however, that notwithstanding in the event of any such assignmentassignment or subletting, Tenant shall not thereby be relieved from responsibility hereundernevertheless remain liable for the performance of all terms, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account covenants, and conditions of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the TenantLease. In the event that the Landlord consents to an assignment of the Lease, any money or consideration to be paid to Tenant for the assignment shall be paid to the Landlord as partial consideration for the Landlord’s consent to the assignment. In the event the Landlord consents to a sublease of the Premises, or any portion thereof, Tenant shall pay to the Landlord fifty percent (50%) any money, rent or other consideration paid to the Tenant enters into an agreement by any subtenant in excess of the pro-rata portion of the rent for such space then being paid by Tenant to sell all Landlord under this Lease less Tenant’s actual costs of its stock of Yardville National Bank, it is permissible under such subletting and (2) any other profit or gain realized by the Lease AgreementTenant from such subletting. All sums payable hereunder by Tenant shall be paid to Landlord as additional rent immediately upon the receipt thereof by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Macrogenics Inc)

Assignment or Subletting. That should the Tenant desire acknowledges that Landlord has entered into this Lease because of Tenants financial strength, goodwill, ability and expertise and that accordingly, this lease is personal to assign Tenant. Taking this agreement or underlet said premisesinto consideration, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant tenant shall not (a) assign assign, mortgage, sublet, pledge or encumber this agreementLease, in whole or underlet or underlease in part, except with the premises or any part thereof without the prior written consent of the Landlord, which consent will shall not be unreasonably withheld or delayed; provided. Tenant agrees that, however, that notwithstanding in the event of any such assignmentassignment or subletting, Tenant shall not thereby be relieved from responsibility hereundernevertheless remain liable for the performance of all terms, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous on account covenants, and conditions of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company of the TenantLease. In the event that the Landlord consents to an assignment of the Lease, any money or consideration to be paid to Tenant for the assignment shall be paid to the Landlord as partial consideration for the Landlord’s consent to the assignment. In the event the Landlord consents to a sublease of the Premises, or any portion thereof, Tenant shall pay to the Landlord a sum equal to (1) any money, rent or other consideration paid to the Tenant enters into an agreement by any subtenant in excess of the pro-rata portion of the rent for such space then being paid by Tenant to sell all of its stock of Yardville National Bank, it is permissible Landlord under this Lease and (2) any other profit or gain realized by the Lease AgreementTenant from such subletting. All sums payable hereunder by Tenant shall be paid to Landlord as additional rent immediately upon the receipt thereof by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Rexahn Pharmaceuticals, Inc.)

Assignment or Subletting. That should the Tenant desire to assign this agreement or underlet said premises, it shall first offer same to Landlord at the rental set forth herein. Should Landlord not accept the assignment or underletting offered or not respond within twenty (20) days of receipt of Tenant's written offer, then Tenant shall be allowed to assign this agreement or underlet the premises provided that the Tenant shall not (a) assign It is agreed that neither the Leased Premises nor any part thereof shall be sublet, nor shall this agreementlease be assigned by Tenant, without the written consent of the Landlord first obtained, which consent may be withheld for any reason. No assignment for the benefit of creditors , or underlet by operation of law, shall be effective to transfer any right to an assignee without the written consent of Landlord first having been obtained. (b) It is agreed that if this lease be assigned, or underlease if the premises Leased Premises or any part thereof without be sublet or occupied by anyone other than Tenant, Landlord may collect rent from the prior written consent assignee, undertenant or occupant, and apply the net amount collected to the rent herein reserved, and no such collection shall be deemed a waiver of Landlordthe covenant herein against assignment and subletting, which consent will not or the acceptance of the assignee, subtenant or occupant as tenant, or a release of Tenant from the complete performance by Tenant of the covenants herein contained on the part of Tenant to be unreasonably withheld performed. Notwithstanding any assignment or delayed; provided, however, that notwithstanding such assignmentsublease, Tenant shall not thereby be relieved from responsibility hereunder, or (b) permit or suffer the premises or any part thereof to be occupied for any business or purpose deemed disreputable or extra-hazardous remain fully liable on account of fire, under penalty of damages and forfeiture. Tenant shall be permitted to assign this lease or sublet the premises without Landlord's consent and without first offering the premises to Landlord if the proposed sublease or assignee is an entity owned by, controlled by, affiliated with, or is the Parent Company shall not be released from performing any of the Tenant. In the event that the Tenant enters into an agreement to sell all terms, covenants and conditions of its stock of Yardville National Bank, it is permissible under the Lease Agreementthis lease.

Appears in 1 contract

Sources: Lease Agreement (Banyan Corp /Or/)