Common use of Conditions of the COUNTY Approval Clause in Contracts

Conditions of the COUNTY Approval. The COUNTY agrees that it will not arbitrarily withhold consent to any Transfer, but the COUNTY may withhold consent at its sole discretion if any of the following conditions exist: (1) The TENANT, its successors or assigns are in default of any term, covenant or condition of this LEASE, whether notice of default has or has not been given by the COUNTY. (2) The prospective subtenant, assignee or transferee has not agreed in writing to keep, perform and be bound by all the terms, covenants, and conditions of this LEASE. (3) The prospective subtenant, assignee or transferee is not financially capable or not experienced in performing the LEASE obligations, as determined by the Airport Director. (4) Subtenant's use is in conflict with the terms of this LEASE. (5) All the terms, covenants and conditions of Transfer, including the consideration therefore, of any and every kind, have not been revealed in writing to the Airport Director. (6) Any construction required of the TENANT as a condition of this LEASE has not been completed to the satisfaction of the COUNTY. (7) The TENANT has not provided the Airport Director with a copy of all documents relating to the Transfer, including, but not limited to, appraisals, notes, trust deeds, title reports, escrow instructions, etc. (8) The TENANT attempts to hypothecate the leasehold for an amount greater than the cost of new improvements to be constructed on the Leased Premises. Hypothecation of the leasehold shall not be permitted for any reason other than to obtain Loan Proceeds necessary to construct new improvements on the Leased Premises.