Common use of Consent Process Clause in Contracts

Consent Process. With the exception of a Permitted Transfer, if Tenant requests ▇▇▇▇▇▇▇▇’s consent to an assignment of this Lease or subletting of all or part of the Premises, Landlord may, at its option: (i) approve such sublease or assignment (but no approval of an assignment or sublease shall relieve Tenant of any liability hereunder); (ii) negotiate directly with the proposed subtenant or assignee and, in the event Landlord is able to reach agreement with such proposed subtenant or assignee, upon execution of a lease with such subtenant or assignee, terminate this Lease (in part or in whole, as appropriate) upon 30 days’ notice to Tenant thereby releasing Tenant from any further liability hereunder from and after the date of the Transfer; or (iii) recapture the Premises or applicable portion thereof from Tenant and terminate this Lease (in part or in whole, as appropriate) upon 30 days’ notice in which case Landlord shall be permitted to lease the Premises to any third party thereby releasing Tenant from any further liability hereunder from and after the date of the Transfer. If Landlord should fail to notify Tenant in writing of its decision within a 30-day period after Landlord is notified in writing of the proposed assignment or sublease, Landlord shall be deemed to have refused to consent to such assignment or subleasing, and to have elected to keep this Lease in full force and effect. In addition, in the event Tenant requests ▇▇▇▇▇▇▇▇’s consent to any assignment of this Lease or subletting, simultaneously with such request, Tenant shall pay to Landlord a processing fee in the amount of $500.

Appears in 1 contract

Sources: Office Lease (GeoVax Labs, Inc.)

Consent Process. With the exception of a Permitted Transfer, if If Tenant requests ▇▇▇▇▇▇▇▇’s Landlord's consent to an assignment of this Lease or subletting of all or part of the Premises, Landlord may, at its option: (i) approve such sublease or assignment (but no approval of an assignment or sublease shall relieve Tenant of any liability hereunder); (ii) negotiate directly with the proposed subtenant or assignee and, in the event Landlord is able to reach agreement with such proposed subtenant or assignee, upon execution of a lease with such subtenant or assignee, terminate this Lease (in part or in whole, as appropriate) upon 30 thirty (30) days’ notice to Tenant thereby releasing Tenant from any further liability hereunder from and after the date of the Transfer' notice; or (iii) recapture the Premises or applicable portion thereof from Tenant and terminate this Lease (in part or in whole, as appropriate) upon 30 thirty (30) days' notice in which case Landlord shall be permitted to lease the Premises to any third party thereby releasing Tenant from any further liability hereunder from and after the date of the Transfer. If party; or (iv) if Landlord should fail to notify Tenant in writing of its decision within a thirty (30-) day period after Landlord is notified in writing of the proposed assignment or sublease, Landlord shall be deemed to have refused to consent to such assignment or subleasing, and to have elected to keep this Lease in full force and effect. In addition, in the event Tenant requests ▇▇▇▇▇▇▇▇’s consent If Landlord consents to any assignment of this Lease or subletting, simultaneously with such requestsublease, Tenant shall pay to Landlord, on demand as additional Rent, an administrative fee of one thousand dollars ($1,000.00) and will reimburse Landlord a processing fee in for all reasonable attorneys’ fees and costs associated with Landlord’s consent to the amount of $500assignment or sublease.

Appears in 1 contract

Sources: Office Lease Agreement