Common use of ASSIGNMENT & SUBLETTING Clause in Contracts

ASSIGNMENT & SUBLETTING. (a) Tenant shall not, without the prior written consent of Landlord, which shall not be unreasonably withheld: (i) assign, convey, mortgage or otherwise transfer this Lease or any interest hereunder, or sublease the Premises, or any part thereof, whether voluntarily or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transfer, sublease or use described in the preceding sentence (herein referred to as a “Transfer”, which term shall include any reassignment of this Lease after any initial assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written consent of Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant shall not release Tenant from any covenant or obligation under this Lease. Landlord may require as a condition to its consent to any assignment of this Lease that the assignee execute an instrument in which such assignee assumes the obligations of Tenant hereunder.

Appears in 2 contracts

Samples: Work Letter Agreement (Olink Holding AB (Publ)), Work Letter Agreement (Olink Holding AB (Publ))

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ASSIGNMENT & SUBLETTING. (a) Tenant shall notnot assign this Lease, or sublease or permit the Unit, the Apartment or any part of the Unit or the Apartment, to be used or occupied by others, without the prior written consent of LandlordLandlord in each instance, which shall not consent may be unreasonably given, withheld: (i) assign, conveydelayed or conditioned at the sole discretion of Landlord. Landlord has no duty or obligation to find a suitable assignee, mortgage subtenant or otherwise transfer replacement tenant in the event Tenant requests permission to assign this Lease or any interest hereunder, or sublease the PremisesUnit, the Apartment or any part thereof, whether voluntarily or by operation of law; or (ii) permit the use of the Premises Unit or the Apartment. Any attempted assignment of this Lease or sublease in violation of this provision will be void. No assignment of this Lease, sublease of the Unit, the Apartment or any part thereof of the Unit or the Apartment, or occupancy of the Unit, the Apartment or any part of the Unit or the Apartment, by any person other than by Tenant and its employees. Any such transfershall be deemed to be (a) a waiver of the provisions of this paragraph, sublease (b) an acceptance of the assignee, subtenant or use described in the preceding sentence (herein referred to occupant as a “Transfer”tenant or (c) a release of Tenant from the further performance by Tenant of the obligations contained in this Lease, which term shall include any reassignment including but not limited to the obligation to pay Rent and Additional Rent for the then-remaining Term of this Lease after any initial the Lease. In the event that Landlord agrees to an assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion a subletting of the Premises Unit or the Apartment, Tenant will remain fully responsible and any sub-subleasing of any portion liable for the payment of the Premises previously subleased) occurring without Rent and Additional Rent and all other obligations hereunder for the prior written consent remainder of Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant shall not release Tenant from any covenant or obligation under this Lease. Landlord may require as a condition to its consent to any assignment of this the Lease that the assignee execute an instrument in which such assignee assumes the obligations of Tenant hereunderTerm.

Appears in 1 contract

Samples: Lease Agreement

ASSIGNMENT & SUBLETTING. (a) Tenant shall not, without the prior written consent of Landlord, which shall not be unreasonably withheld: (i) assign, convey, mortgage or otherwise transfer this Lease or any interest hereunder, or sublease the Premises, or any part thereof, whether voluntarily or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transfer, sublease or use described in the preceding sentence (herein referred to as a “Transfer”, which term shall include any reassignment of this Lease after any initial assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written consent of Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant shall not release Tenant from any covenant or obligation under this Lease. Landlord may require as a condition to its consent to any assignment of this Lease that the assignee execute an instrument in which such assignee assumes the obligations of Tenant hereunder. For the purposes of this paragraph, the transfer (whether direct or indirect) of all or a majority of the capital stock in a corporate Tenant (other than the shares of the capital stock of a corporate Tenant whose stock is publicly traded), or the merger, consolidation or reorganization of such Tenant, or the transfer of all or any general partnership interest in any partnership, or the transfer of any membership interest in any limited liability company, shall be considered a Transfer.

Appears in 1 contract

Samples: Lease (Catcher Holdings, Inc)

ASSIGNMENT & SUBLETTING. (a) Tenant shall not, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed: (i) assign, convey, mortgage or otherwise transfer this Lease or any interest hereunder, or sublease the Premises, or any part thereof, whether voluntarily or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transfer, sublease or use described in the preceding sentence (herein referred to as a “Transfer”, which term shall include any reassignment of this Lease after any initial assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written consent of Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant shall not release Tenant from any covenant or obligation under this Lease. Landlord may require as a condition to its consent to any assignment of this Lease that the assignee execute an instrument in which such assignee assumes the obligations of Tenant hereunder. For the purposes of this paragraph, the transfer (whether direct or indirect) of all or a majority of the capital stock in a corporate Tenant (other than the shares of the capital stock of a corporate Tenant whose stock is publicly traded), or the merger, consolidation or reorganization of such Tenant, or the transfer of all or any general partnership interest in any partnership, or the transfer of any membership interest in any limited liability company, shall be considered a Transfer.

Appears in 1 contract

Samples: Lease (Netezza Corp)

ASSIGNMENT & SUBLETTING. (a) Tenant shall nothave the right to assign its interest in this Lease and sublet the Leased Premises or any part thereof, without obtaining the prior written consent of Landlord, which provided that Tenant remains fully liable under the terms and conditions of this Lease. Tenant shall not be unreasonably withheld: deliver to Landlord a fully-executed duplicate original of any such assignment or sublease within ten (i10) assigndays after Tenant’s execution thereof. In the event that this Lease is assigned or more than fifty percent (50%) of the Leased Premises is subleased, conveyTenant shall require that such assignee or subtenant deliver annual audited financial statements to Landlord. Any attempted assignment, mortgage transfer or otherwise transfer other encumbrance of this Lease or any interest hereunder, or sublease the Premises, or any part thereof, whether voluntarily or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transfer, sublease or use described in the preceding sentence (herein referred to as a “Transfer”, which term shall include any reassignment of this Lease after any initial assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written consent of Landlord Tenant’s rights hereunder or interest herein not in accordance with this Paragraph 17 shall be void and of no force or effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer collection or acceptance of rent from any party other than Tenant assignee shall not release be construed either as waiving or releasing Tenant from any covenant of its liabilities or obligation obligations under this Lease. Landlord may require Lease as a condition principal and not as a guarantor or surety. As security for this Lease, Tenant hereby assigns to its consent to Landlord the rent due from any assignment assignee of this Lease that the assignee execute Tenant. For any period during which there exists an instrument in which Event of Default hereunder, Tenant hereby authorizes each such assignee assumes the obligations to pay said rent directly to Landlord upon receipt of Tenant hereundernotice from Landlord specifying same.

Appears in 1 contract

Samples: Lease Agreement (Capital Automotive Reit)

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ASSIGNMENT & SUBLETTING. (a) 16.1. Tenant shall notnot assign, transfer, mortgage or encumber this Lease or sublet the Premises without obtaining the prior written consent of Landlord said consent shall not be unreasonably withheld or delayed provided Tenant and its assignee or subtenant each remains liable as principal under terms of the Lease, nor shall any assignment or transfer of this Lease be effectuated by operation of law or otherwise without the prior written consent of Landlord. The consent by Landlord to any assignment, which shall not be unreasonably withheld: (i) assign, convey, mortgage or otherwise transfer this Lease or any interest hereundertransfer, or sublease the Premises, or any part thereof, whether voluntarily or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transfer, sublease or use described in the preceding sentence (herein referred subletting to as a “Transfer”, which term shall include any reassignment of this Lease after any initial assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written consent of Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant Landlord shall not be construed as a waiver or release of Tenant from the terms of any covenant or obligation under this Lease. , nor shall the collection or acceptance of rent from any such assignee, transferee, subtenant or occupant constitute a waiver or release of Tenant from any covenant or obligation contained in this Lease, nor shall such assignment or subletting be construed to relieve Tenant from obtaining the consent in writing of Landlord may require as a condition to its consent to any further assignment or subletting. Landlord’s disapproval of this Lease a proposed assignee or sublessee shall not be deemed unreasonable if Landlord believes that the proposed assignee execute an instrument in which such assignee assumes or subtenant is a security risk to the obligations building or the other tenants of the building. In the event that Tenant defaults hereunder, Tenant hereby assigns to Landlord the rent due from any subtenant of Tenant hereunderand hereby authorizes each such subtenant to pay said rent directly to Landlord.

Appears in 1 contract

Samples: Agreement of Lease (Old Line Bancshares Inc)

ASSIGNMENT & SUBLETTING. (a) Tenant shall notmay not assign its rights under this Lease or any interest therein, or mortgage pledge, encumber, or otherwise transfer this Lease, or Tenant’s rights under it, with respect to all or any portion of the Premises to any person or entity, without the prior written consent of Landlord, which consent may be withheld in Landlord’s sole and absolute discretion; provided, however, that no consent shall not be unreasonably withheld: (i) assign, convey, mortgage needed with respect to any transfer by Tenant to an entity in which the majority of the controlling or otherwise transfer managing ownership interests are owned by Tenant or by the principal owners of Tenant or by joint venture arrangement in which Tenant is a principal member. Tenant shall promptly notify Landlord of any such assignment and shall provide to Landlord with such notification a copy of the assignment agreement. No assignment by Tenant of any of its rights or obligations under this Agreement relieves Tenant of any of its obligations under this Lease or any unless Landlord expressly agrees to such release in writing. Any purported assignment in violation of the terms of this Lease shall be void. Subject to the foregoing, this Lease is binding on and inures to the benefit of the successors-in-interest hereunder, or sublease the Premises, or any part thereofand assigns of each party to this Lease. Any transfer of Tenant’s interest in this Lease by operation of law, whether voluntarily or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transferinvoluntarily, sublease or use described in the preceding sentence (herein referred to shall be construed as a an Transfer”, which term shall include any reassignment of assignment” prohibited under this Lease after any initial assignment of this Lease by pursuant to the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written consent of Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant shall not release Tenant from any covenant or obligation under this Lease. Landlord may require as a condition to its consent to any assignment of this Lease that the assignee execute an instrument in which such assignee assumes the obligations of Tenant hereunderforegoing.

Appears in 1 contract

Samples: Lease (Spanish Broadcasting System Inc)

ASSIGNMENT & SUBLETTING. (a) 14.1. Tenant shall notnot assign, transfer, mortgage or encumber this Lease or sublet the Premises without obtaining the prior written consent of Landlord, which shall not be unreasonably withheld: (i) assign, convey, mortgage withheld nor shall any assignment or transfer of this Lease be effectuated by operation of law or otherwise transfer without the prior written consent of Landlord. Consent shall not be unreasonably withheld or delayed; excepting however, Tenant shall not assign this Lease or any interest hereunderLease, or sublease sublet the Premises, or any part thereof, whether voluntarily permit occupancy or by operation of law; or (ii) permit the use of the Premises or any part thereof by any person other than Tenant and its employees. Any such transferanother party or parties, sublease without giving Landlord fifteen (15) days written notice of proposed assignment or use described in the preceding sentence (herein referred to as a “Transfer”, which term shall include any reassignment proposed subletting of this Lease after any initial assignment of this Lease by the Tenant named herein, or any subsequent reassignment and any assignment of any sublease with respect to all or any portion part of the Premises and any sub-subleasing of any portion of the Premises previously subleased) occurring without the prior written Premises. The consent of by Landlord shall be void and of no effect. Landlord’s consent to any Transfer shall not constitute a waiver of Landlord’s right assignment, transfer, or subletting to withhold its consent to any future Transfer. Landlord’s consent to any Transfer or acceptance of rent from any party other than Tenant Landlord shall not be construed as a waiver or release of Tenant from the terms of any covenant or obligation under this Lease. , nor shall the collection or acceptance of rent from any such assignee, transferee, subtenant or occupant constitute a waiver or release of Tenant from any covenant or obligation contained in this Lease, nor shall such assignment or subletting be construed to relieve Tenant from obtaining the consent in writing of Landlord may require as a condition to its consent to any further assignment of this Lease or subletting. In the event that Tenant defaults hereunder, Tenant hereby assigns to Landlord the assignee execute an instrument in which such assignee assumes the obligations rent due from any subtenant of Tenant hereunderand hereby authorizes each such subtenant to pay said rent directly to Landlord.

Appears in 1 contract

Samples: Agreement of Lease (Usinternetworking Inc)

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