Common use of Prohibited Transaction Clause in Contracts

Prohibited Transaction. Notwithstanding anything to the contrary contained in this Article 39, neither Tenant nor any other person having a right to possess, use, or occupy (for convenience, collectively referred to in this subarticle as “Use”) the Premises shall enter into any lease, sublease, license, concession or other agreement for Use of all or any portion of the Premises which provides for rental or other payment for such Use based, in whole or in part, on the net income or profits derived by any person that leases, possesses, uses, or occupies all or any portion of the Premises (other than an amount based on a fixed percentage or percentages of receipts or sales), and any such purported lease, sublease, license, concession or other agreement shall be absolutely void and ineffective as a transfer of any right or interest in, or as a grant of the right to Use, all or any part of the Premises.

Appears in 2 contracts

Samples: Office Lease Agreement (Turo Inc.), Office Lease Agreement (Turo Inc.)

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Prohibited Transaction. Notwithstanding anything to the contrary contained in this Article 3940, neither Tenant nor any other person having a right to possess, use, or occupy (for convenience, collectively referred to in this subarticle as “Use”) the Premises shall enter into any lease, sublease, license, concession or other agreement for Use of all or any portion of the Premises which provides for rental or other payment for such Use based, in whole or in part, on the net income or profits derived by any person that leases, possesses, uses, or occupies all or any portion of the Premises (other than an amount based on a fixed percentage or percentages of receipts or sales), and any such purported lease, sublease, license, concession or other agreement shall be absolutely void and ineffective as a transfer of any right or interest in, or as a grant of the right to Use, all or any part of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (On24 Inc)

Prohibited Transaction. Notwithstanding anything to the contrary contained in this Article 39Section 41, neither Tenant nor any other person having a right to possess, use, or occupy (for convenience, collectively referred to in this subarticle subsection as “Use”) the Premises shall enter into any lease, sublease, license, concession or other agreement for Use of all or any portion of the Premises which provides for rental or other payment for such Use based, in whole or in part, on the net income or profits derived by any person that leases, possesses, uses, or occupies all or any portion of the Premises (other than an amount based on a fixed percentage or percentages of receipts or sales), and any such purported lease, sublease, license, concession or other agreement shall be absolutely void and ineffective as a transfer of any right or interest in, or as a grant in the Use of the right to Use, all or any part of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (RPX Corp)

Prohibited Transaction. Notwithstanding anything to the contrary contained in this Article 3938, neither Tenant nor any other person having a right to possess, use, or occupy (for convenience, collectively referred to in this subarticle subsection as “Use”) the Premises shall enter into any lease, sublease, license, concession or other agreement for Use of all or any portion of the Premises which provides for rental or other payment for such Use based, in whole or in part, on the net income or profits derived by any person that leases, possesses, uses, or occupies all or any portion of the Premises (other than an amount based on a fixed percentage or percentages of receipts or sales), and any such purported lease, sublease, license, concession or other agreement shall be absolutely void and ineffective as a transfer of any right or interest in, or as a grant in the Use of the right to Use, all or any part of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (Del Monte Foods Co)

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Prohibited Transaction. Notwithstanding anything to the contrary contained in this Article 3941, neither Tenant nor any other person having a right to possess, use, or occupy (for convenience, collectively referred to in this subarticle subsection as “Use”) the Premises shall enter into any lease, sublease, license, concession or other agreement for Use of all or any portion of the Premises which provides for rental or other payment for such Use based, in whole or in part, on the net income or profits derived by any person that leases, possesses, uses, or occupies all or any portion of the Premises (other than an amount based on a fixed percentage or percentages of receipts or sales), and any such purported lease, sublease, license, concession or other agreement shall be absolutely void and ineffective as a transfer of any right or interest in, or as a grant in the Use of the right to Use, all or any part of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (Velti PLC)

Prohibited Transaction. Notwithstanding anything to the contrary contained in this Article 39Section 41, neither Tenant nor any other person having a right to possess, use, or occupy (for convenience, collectively referred to in this subarticle subsection as “Use”) the Premises shall enter into any lease, sublease, license, concession or other agreement for Use of all or any portion of the Premises which provides for rental or other payment for such Use based, in whole or in part, on the net income or profits derived by any person that leases, possesses, uses, or occupies all or any portion of the Premises (other than an amount based on a fixed percentage or percentages of receipts or sales), and any such purported lease, sublease, license, concession or other agreement shall be absolutely void and ineffective as a transfer of any right or interest in, or as a grant of the right to Use, all or any part of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (Velti PLC)

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