Common use of Assignment, sublet Clause in Contracts

Assignment, sublet. Tenant shall not assign, pledge, grant a security interest in or mortgage this Lease, or sublet all or any portion of the Premises without Landlord's prior written consent, which, if consented to by Landlord, shall be in a form acceptable to Landlord. No assignment, mortgaging or subletting, if consented to by Landlord, shall relieve Tenant of its obligations under this Lease. Consent by Landlord shall not operate as a waiver of the necessity for consent to any subsequent assignment, mortgaging or subletting and the terms of such consent shall be binding upon the assignee, mortgagee or subtenant. Tenant hereby irrevocably assigns, for purposes of collateral, the rent of any and all assignees and sublessees and, upon instruction from Landlord, shall notify any assignee or sublessee to make such payments directly to Landlord. For convenience purposes, the Landlord may, at his option, make arrangements to collect the rent directly from the assignee or subtenant. Additionally, if the Tenant does sublet Premises, in whole or in part, then it is hereby mutually agreed that Landlord shall have the right to 75% of any additional rental income which is the result of such sublease. For purposes of this section, "Additional Rental Income" is defined as the difference between all rent paid by subtenant and all rent owed by ▇▇▇▇▇▇ to Landlord hereunder. Tenant shall submit periodic reports to Landlord computing any subrental payments due to Landlord and enclosing the payments.

Assignment, sublet. Tenant shall not assign, pledge, grant a security interest in assign this Lease or mortgage this Lease, any part thereof or sublet all or any portion part of the Premises without Landlord's prior written consentconsent of Landlord, whichwhich shall not be unreasonably withheld. If Tenant desires to assign or sublet all or a portion of the Premises, Tenant shall first advise Landlord in writing of the name, proposed use of Premises and such financial information as Landlord may reasonably require applicable to the proposed assignee or subtenant. Tenant shall also accompany such request for consent with a copy of the proposed assignment or sublease and any other agreements to be entered into concurrently with such assignment or sublease. It shall not be unreasonable for Landlord to withhold consent if the reputation, financial responsibility or business of proposed assignee or subtenant is unacceptable to Landlord or if the intended use by the proposed assignee or subtenant is not identical to the use of the Premises authorized Tenant by the provisions of this Lease or if the proposed assignee or subtenant is a present or former tenant of the Building. Any assignment or subletting consented to by Landlord, Landlord shall be evidenced in writing in a form acceptable to Landlord. No assignment, mortgaging This Lease shall not be assignable by operation of law. Assignees or subletting, if consented subtenants shall become directly liable to by Landlord, shall relieve Landlord for all obligations of Tenant under this Lease without relieving Tenant of its obligations under this Leaseany liability. Consent by Landlord shall not operate as a waiver of relieve the necessity for Tenant from obtaining written consent to any subsequent assignment, mortgaging assignment or subletting and the terms of such consent shall be binding upon the assignee, mortgagee or subtenant. Tenant hereby irrevocably assigns, for purposes of collateral, the rent of any and all assignees and sublessees and, upon instruction from Landlord, shall notify any assignee or sublessee to make such payments directly to Landlord. For convenience purposes, the Landlord may, at his option, make arrangements to collect the rent directly from the assignee or subtenant. Additionally, if the Tenant does sublet Premises, in whole or in part, then it is hereby mutually agreed that Landlord shall have the right to 75% of any additional rental income which is the result of such sublease. For purposes of this section, "Additional Rental Income" is defined as the difference between all rent paid by subtenant and all rent owed by ▇▇▇▇▇▇ to Landlord hereunder. Tenant shall submit periodic reports to Landlord computing any subrental payments due to Landlord and enclosing the paymentssubletting.