Common use of Assignment Permitted Clause in Contracts

Assignment Permitted. Notwithstanding the foregoing, provided no Event of Default has occurred and is continuing under the Lease, upon ten (10) days’ prior written notice to Landlord, Tenant may, without Landlord’s consent, assign or transfer this Lease (i) to an entity into which Tenant is merged or consolidated, provided that such merger or consolidation is for a good business purpose and not principally for the purpose of transferring Tenant’s leasehold estate, (ii) to any entity controlling Tenant, controlled by Tenant or under common control with Tenant (a “Tenant Affiliate”), or (iii) to any entity with a total tangible net worth of Two Hundred Fifty Million and No/l00ths Dollars ($250,000,000.00) or more determined by generally accepted accounting principles; and provided that such successor shall execute an instrument in writing, acceptable to Landlord in its reasonable discretion, fully assuming all of the obligations and liabilities imposed upon Tenant hereunder and deliver the same to Landlord. Further, Tenant may allow or permit any transfer of this Lease, or any interest hereunder, by operation of law. 13.3

Assignment Permitted. Notwithstanding the foregoing, provided no Event of Default has occurred and is continuing under the Lease, upon ten (10) days’ prior written notice to Landlord, Tenant may, without Landlord’s consent, assign or transfer this Lease (i) to an entity into which Tenant is merged or consolidated, provided that such merger or consolidation is for a good business purpose and not principally for the purpose of transferring Tenant’s leasehold estate, (ii) to any entity controlling Tenant, controlled by Tenant or under common control with Tenant (a “Tenant Affiliate”), or (iii) to any entity with a total tangible net worth of Two Hundred Fifty Million and No/l00ths Dollars ($250,000,000.00) or more determined by generally accepted accounting principles; and provided that such successor shall execute an instrument in writing, acceptable to Landlord in its reasonable discretion, fully assuming all of the obligations and liabilities imposed upon Tenant hereunder and deliver the same to Landlord. Further, Tenant may allow or permit any transfer of this Lease, or any interest hereunder, by operation of law. 13.3.