Common use of Lessee Assignment Clause in Contracts

Lessee Assignment. Lessee shall not assign, in whole or in part, this Lease, or allow it to be assigned, in whole or in part, by operation of law or otherwise (including without limitation by transfer of a majority interest of stock, merger, or dissolution, which transfer of majority interest of stock, merger or dissolution shall be deemed an assignment) or mortgage or pledge the same except to a bona fide third party lender providing financing of Lessee's business or Lessee's inventory or personalty located on the premises, or sublet the leased premises, in whole or in part, without the prior written consent of Lessor which consent shall not be unreasonably withheld, and in no event shall any such assignment or subleasee ever release Lessee from any obligation or liability hereunder. No assignee or sublessee of the leased premises or any portion thereof may assign or sublet the leased premises or any portion thereof. Notwithstanding this provision, Lessee shall have the right to assign or sublease to any parent, affiliate, subsidiary, or successor of Lessee, whether by merger, consolidation, or otherwise, or to any person or entity that purchases all of the assets of Lessee provided the net worth of the person or entity to whom the Lease is assigned is equal to or greater than Lessee.

Lessee Assignment. Lessee shall not assign, in whole or in part, this Lease, or allow it to be assigned, in whole or in part, by operation of law or otherwise (including without limitation by transfer of a majority interest of stock, merger, or dissolution, which transfer of majority interest of stock, merger or dissolution shall be deemed an assignment) or mortgage or pledge the same except to a bona fide third party lender providing financing of Lessee's business or Lessee's inventory or personalty located on the premises, or sublet the leased premises, in whole or in part, without the prior written consent of Lessor which consent shall not be unreasonably withheld, and in no event shall any such assignment or subleasee sublease ever release Lessee from any obligation or liability hereunder. No assignee or sublessee of the leased 16 premises or any portion thereof may assign or sublet the leased premises or any portion thereof. Notwithstanding this provision, Lessee shall have the right to assign or sublease to any parent, affiliate, subsidiary, or successor of Lessee, whether by merger, consolidation, or otherwise, or to any person or entity that purchases all of the assets of Lessee provided the net worth of the person or entity to whom the Lease is assigned is equal to or greater than Lessee.