Assignment Subletting Mortgage Clause Samples

Assignment Subletting Mortgage. A. Tenant shall not have the right to assign or pledge this Lease or to sublet the whole or any part of the Premises, whether voluntarily or by operation of law, or permit the use or occupancy of the Premises by anyone other than Tenant, or assign this Lease for security purposes, without the prior consent of Landlord, and such restrictions shall be binding upon any assignee or subtenant to which Landlord has consented. In the event Tenant desires to sublet the Premises, or any portion thereof, or assign this Lease, Tenant shall give written notice thereof to Landlord at least thirty (30) days but no more than sixty (60) days prior to the proposed commencement date of such subletting or assignment, which notice shall set forth the name of the proposed subtenant or assignee, the relevant terms of any sublease and copies of financial reports and other relevant financial information of the proposed subtenant or assignee. Notwithstanding any permitted assignment or subletting, Tenant shall at all times remain directly and primarily responsible and liable for the payment of the rent herein specified and for compliance with all of its other obligations under this Lease. Upon the occurrence of an "event of default" (as hereinafter defined), if the Premises or any part thereof are then sublet, Landlord, in addition to any other remedies provided herein or by law, may collect directly from such subtenant all rents due and becoming due to Tenant under such sublease and apply such rent against any sums due to Landlord from Tenant hereunder. No such collection directly from an assignee or subtenant shall be construed to constitute a novation or a release of Tenant from the further performance of Tenant's obligations hereunder. B. Subject to the provisions hereof, Tenant shall have the right, with the prior written consent of Landlord, which consent shall not be unreasonably withheld or delayed, to assign its interest in this Lease and to sublet all of the Premises (and not any portion(s) thereof), to any entity which is a successor to Tenant either by merger or consolidation or to a parent, subsidiary or affiliate of Tenant. In addition, Tenant shall have the right, with the prior written consent of Landlord, which shall not be unreasonably withheld or delayed, to assign its interest in this Lease to any entity to which Tenant shall sell its business (whether by means of an asset sale or a stock sale), provided the following terms and conditions are complied with: (a)...