Common use of ASSIGNMENT, SUBLETTING, ETC Clause in Contracts

ASSIGNMENT, SUBLETTING, ETC. Lessee shall not, without Lessor's prior written consent, which shall not be unreasonably withheld, assign, sublease, transfer, mortgage or encumber this lease, or the leasehold estate created hereby, in whole or in part. If Lessor should grant such consent then the assignee, sublessee, transferee, mortgagee, or beneficiary of such encumbrance shall enter into a direct covenant with Lessor to keep and perform the terms and conditions of this lease and copies of any such assignment, sublease, transfer instrument, mortgage, or encumbering instrument shall be delivered to Lessor and no such assignment, sublease, transfer, mortgage or encumbrance shall relieve Lessee of its obligations hereunder. In the event Lessor should consent to any specific assignment, subletting, transfer, mortgage or encumbrance such assignee, sublessee, transferee, mortgagee or beneficiary of such encumbrance may not further assign, sublease, transfer, mortgage or encumber this lease without the specific prior written consent of Lessor.

Appears in 2 contracts

Sources: Coal Lease (International Coal Group, Inc.), Surface Lease (International Coal Group, Inc.)