Common use of Prohibition on Assignment and Subletting Clause in Contracts

Prohibition on Assignment and Subletting. Tenant may not sublet the Premises or assign, or otherwise transfer any interest under this Lease without Landlord’s prior written consent, which consent may be withheld on Landlord’s sole and absolute discretion. Any transfer of fifty percent (50%) or more of the ownership interests in any tenant in one or a series of transactions, any change in control of any tenant (as defined based on the respective tenant’s operating agreement or governing corporate documents), or any change in the persons providing the Lease Guaranty pursuant to Section 9 hereto, shall be deemed to constitute an assignment (and shall therefore require Landlord’s prior written consent). Any attempted assignment, sublet or transfer made in violation of this provision shall be void. If Tenant requests Xxxxxxxx’s consent to an assignment or subletting, then Tenant shall pay to Landlord, as additional rent, within ten (10) days after written demand, the greater of $10,000 or Landlord’s actual attorneys’ fees incurred in connection with evaluating the request and any assignment documents or sublease and in connection with processing any required documents.

Prohibition on Assignment and Subletting. Tenant may not sublet the Premises or assign, or otherwise transfer any its interest under this Lease without Landlord’s prior written consent, which consent may be withheld on Landlord’s sole and absolute discretion. Any transfer of fifty percent (50%) or more of the ownership interests in any tenant Tenant in one or a series of transactions, any change in control of any tenant Tenant (as defined based on the respective tenantTenant’s operating agreement or governing corporate documents), or any change in the persons providing the Lease Guaranty pursuant to Section 9 hereto, shall be deemed to constitute an assignment (and shall therefore require Landlord’s prior written consent). Any attempted assignment, sublet or transfer made in violation of this provision shall be void. If Tenant requests Xxxxxxxx’s consent to an assignment or subletting, then Tenant shall pay to Landlord, as additional rent, within ten (10) days after written demand, the greater of $10,000 or Landlord’s actual attorneys’ fees incurred in connection with evaluating the request and any assignment documents or sublease and in connection with processing any required documents.