Lessor Assignment Sample Clauses
The Lessor Assignment clause defines the landlord's right to transfer their interest in the lease to another party. Typically, this means the lessor can sell, assign, or otherwise convey their rights and obligations under the lease without needing the tenant's consent. For example, if the property is sold to a new owner, the new owner would assume the role of lessor under the existing lease terms. This clause ensures the landlord has flexibility in managing or disposing of their property interests, while also clarifying for tenants that their lease obligations continue regardless of changes in ownership.
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Lessor Assignment. Lessor shall have the right to sell, transfer or assign, in whole or in part, its rights and obligations under this Lease and in the building. Any such sale, transfer or assignment shall operate to release Lessor from any and all liabilities under this Lease arising after the date of such sale, assignment or transfer.
Lessor Assignment. Lessor may sell, assign or transfer all or any of its rights under the Operative Documents and in the Leased Property (a “Transfer”) and Lessor will, other than in the case of an assignment for security purposes, have no further obligation under the Operative Documents following a Transfer but, notwithstanding any Transfer, will remain entitled to the benefit of each indemnity under this Agreement.
(a) In connection with any Transfer, the following conditions shall apply:
(i) Lessor shall give Lessee written notice of such Transfer at least 10 Business Days before the date of such Transfer, specifying the name and address of the proposed purchaser, assignee or transferee (the “Transferee”);
(ii) the Transferee will either (1) be an Affiliate of Lessor or (2) be a Person reasonably experienced in aircraft leasing (or the Transferee’s rights and powers under this Agreement shall be exercised or serviced on its behalf pursuant to an appropriate management or servicing agreement by a Person having such experience);
(iii) the Transferee will have full corporate power and authority to enter into and perform the transactions contemplated by this Agreement on the part of “Lessor”;
(iv) such Transfer shall not result in a change of State of Registration (unless otherwise agreed with ▇▇▇▇▇▇);
Lessor Assignment. Lessor may assign this Lease at any time in its sole discretion, including without limitation, as collateral to secure indebtedness, and in such event Lessee agrees to promptly execute and deliver such estoppel letters and/or subordination, non-disturbance and attornment agreements covering this Lease as reasonably required by Lessor or any successor in interest.
Lessor Assignment. The Lessor may sell, assign (for purposes of this Clause 14.2, not including an assignment for security purposes) or transfer all or any of its rights under this Agreement and in the Leased Property provided that the provisions of this Clause 14.2 are satisfied (a "Transfer") and the Lessor will have no further obligations under this Agreement following a Transfer (other than obligations that are outstanding as of the date of such Transfer) but, notwithstanding any Transfer, will remain entitled to the benefit of each indemnity under this Agreement.
(a) In connection with any Transfer, the following conditions shall apply:
(i) Lessor shall give Lessee written notice of such Transfer at least 10 Business Days before the date of such Transfer, specifying the name and address of the proposed purchaser, assignee or transferee (the "Transferee");
(ii) the Transferee will be either (1) a Person reasonably experienced in aircraft leasing (or the Transferee's rights and powers under this Agreement shall be exercised or serviced on its behalf pursuant to an appropriate management or servicing agreement by a Person having such experience) with a net worth in excess of $15,000,000, or (2) a Person with at least 10 years of experience (or whose principals have at least 10 years of experience) in aircraft leasing (or the Transferee's rights and powers under this Agreement shall be exercised or serviced on its behalf pursuant to an appropriate management or servicing agreement by a Person having such experience) with a net worth in excess of $7,500,000 and which causes a United States bank, trust company or other financial institution to agree to hold all Additional Rent paid to Lessor in a segregated, interest-bearing account of such institution to be applied to the obligations of Lessor pursuant to Clause 7.2 of this Agreement;
(iii) the Transferee will be a "citizen of the United States" within the meaning of Section 40102(a)(15) of the Federal Aviation Law and have full corporate power and authority to enter into and perform the transactions contemplated by this Agreement on the part of "Lessor";
(iv) on the Transfer date the Lessor and the Transferee shall enter into an agreement or agreements acceptable to Lessee in its reasonable discretion in which the Transferee confirms that it shall be deemed a party to this Agreement and agrees to be bound by all the terms of, and to undertake all of the obligations of, the Lessor contained in this Agreement;
(v) such Transf...
Lessor Assignment. 16 Section 9.02 Lessee Assignment 16 Section 9.03 Conditions of Assignment 16 Section 9.04 Rights of Mortgagee 17 Section 9.05 Estoppel Certificates 17
Lessor Assignment. The Lessor may sell, assign or transfer all or any of its rights under this Agreement and in the Aircraft (a "TRANSFER") and the Lessor will, other than in the case of an assignment for security purposes, have no further obligation under this Agreement following a Transfer but, notwithstanding any Transfer, will remain entitled to the benefit of each indemnity under this Agreement.
(a) In connection with any Transfer, the following conditions shall apply:
(i) Lessor shall give Lessee written notice of such Transfer at least 10 Business Days before the date of such Transfer, specifying the name and address of the proposed purchaser, assignee or transferee (the "Transferee");
(ii) the Transferee will be a person reasonably experienced in aircraft leasing (or the Transferee's rights and powers under this Agreement shall be exercised on its behalf pursuant to an appropriate management agreement by a person having such experience);
(iii) the Transfer will not adversely affect the Lessee's rights and interests in the Aircraft and/or this Agreement, nor subject the Lessee to any Tax or Claim or any other obligation or liability to which it would not have been subject had such assignment or transfer not taken place.
(iv) the Transferee will be a "citizen of the United States" within the meaning of Section 40102(a)(15) of the Federal Aviation Law and have full corporate power and authority to enter into and perform the transactions contemplated by this Agreement on the part of "Lessor";
(v) on the Transfer date the Lessor and the Transferee shall enter into an agreement or agreements in which the Transferee confirms that it shall be deemed a party to this Agreement and agrees to be bound by all the terms of, and to undertake all of the obligations of, the Lessor contained in this Agreement;
(vi) such Transfer shall not violate any applicable law including the Federal Aviation Law, the Federal Aviation Regulations and the Securities Act of 1933, as amended; and
(vii) the Transferee shall provide to Lessee an opinion of its regular independent counsel as to the matters set forth in sub-clause (iv), as to the legality, validity, binding effect and enforceability of the agreement or agreements between Lessor and Transferee referred to in sub-clause (v) and as to such other matters as were contained in the opinion of Lessor's counsel delivered on the Delivery Date.
(b) Upon any Transfer, the Transferee shall be deemed Lessor for all purposes of this Agreement, each refe...
Lessor Assignment. Except pursuant to the Existing Financing Documents and the Novation Agreement, it has not assigned or transferred any of its rights or obligations under the Lease Documents.
Lessor Assignment. Lessor may assign, at its cost and expense (unless an Event of Default shall have occurred and be continuing, in which case such assignment shall be at Lessee’s cost and expense), all or any of its rights under this Agreement and in the Aircraft.
Lessor Assignment. Without notice to Lessee, Lessor may assign or sell its interest in, grant a security interest in, or otherwise transfer, in whole or in part to any person or entity (each such person or entity an "Assignee"), this Agreement, one or more Schedules, any or all of the Vehicles or any of its rights, interests or obligations with respect thereto, including, without limitation, all Rent and other sums due or to become due under any Schedule to one or more persons or entities. Upon notice thereof from Lessor (as provided in Section 27(e) below), Lessee shall pay Rent to an Assignee. Lessee acknowledges that any such assignment or transfer by Lessor will not materially impair Lessee's prospect of obtaining return performance by Lessor, materially change Lessee's duties or obligations under this Agreement or any affected Schedule, nor materially increase the burdens or risks imposed on Lessee, and Lessee further agrees that any such assignment or transfer shall be permitted even if the same could be deemed to materially affect the interests of Lessee. LESSEE SHALL NOT ASSERT AGAINST ANY ASSIGNEE ANY CLAIM, DEFENSE, COUNTERCLAIM OR SET-OFF THAT LESSEE MAY AT ANY TIME HAVE AGAINST LESSOR.
Lessor Assignment. The Lessor shall be entitled to assign its rights under this Lease.