SUB LEASE AND ASSIGNMENT Sample Clauses
SUB LEASE AND ASSIGNMENT. 9.1 The Intending LESSEE shall not, except as provided in Clause 10, directly or indirectly sell, assign, mortgage, sublet or underlet, or otherwise transfer fully or in part, the Project or the Schedule Property or its interests therein or transfer the possession of the Schedule Property either wholly or partially, to any Person (legal or natural) during the subsistence of Agreement to Lease. However, the Intending LESSEE shall be entitled to sublease or assign its leasehold interest in the Schedule Property upon obtaining prior consent in writing from the LESSOR and upon compliance of the following conditions to the satisfaction of the LESSOR:
a. Intending LESSEE shall pay to the LESSOR the transfer charges, as may be determined by the LESSOR from time to time.
b. Intending LESSEE shall ensure that the transferee/sub-lessee/assignee executes the necessary documentation including but not limited to a deed of adherence undertaking to perform all the obligations under the Lease Deed including the covenants for utilization of land in the Schedule Property solely for the purpose for which it is allotted by the LESSOR to the original LESSEE.
c. The assignee or sub-lessee shall have at least the same qualifications as prescribed by the LESSOR vis-à-vis the original Intending LESSEE.
9.2 The Intending LESSEE shall abide with the Land Allotment Policy - Rules, Regulations and Standing Orders 2016 and also abide by any other terms & conditions as may be communicated by the LESSOR from time to time. In case any question/doubt arises on the allotment under this Agreement, the decision of the LESSOR shall be final and binding on the Intending LESSEE.
SUB LEASE AND ASSIGNMENT. Customer shall not assign, mortgage, encumber, sublease, or transfer any right or interest in this Agreement without first obtaining Owner written consent, which Owner, in its sole discretion, may withhold for any reason. Any attempt by Customer to assign, sublease, or transfer any right or interest in this Agreement without first obtaining Owner’s written consent is null and void. If Owner consents to any assignment, sublease, or transfer, Customer shall remain liable hereunder unless released in writing by Owner.
SUB LEASE AND ASSIGNMENT. 8.1 Should the Lessee desire to sub-lease the Leased Premises or any part thereof, or to assign any of its rights under this Lease, then and so often as such event shall occur, the Lessee shall give to the Lessor written notice of such desire accompanied by a copy of the offer to sub-lease, or a copy of the offer to assign, together in all cases with such financial or other information in respect of the proposed sub-lessee or assignee as the Lessor may so request. The Lessor shall, acting reasonably, within thirty (30) days of receiving all the foregoing notify the Lessee in writing either (i) that it consents to such sub-lease or assignment, or (ii) that it does not consent to such sub-lease or assignment, or (iii) that it elects to terminate the Lease as of a date being ninety (90) days following the date of the Lessor’s notification to the Lessee. In such latter event, the Lease shall be deemed to have terminated as of the expiration of such ninety (90) day period, unless, within ten (10) days next following the Lessor’s notice electing to terminate, the Lessee shall have withdrawn, by way of written notice to such effect to the Lessor, its request to sublease or assign. Where the Lessee shall have withdrawn its request as aforesaid, the Lease shall continue in force unamended. Where any request for sublease or assignment relates to a portion only of the Leased Premises, then, in such a case, where the Lessor shall exercise his option to terminate the present Lease as aforesaid, then the Lease shall be terminated only with respect to that portion of the Leased Premises to which the proposed sublease or assignment related. It is expressly agreed and understood that the rights so conferred to the Lessor have been freely given to the Lessor by the Lessee for valid commercial reasons. Conversely, in such circumstances where the Lessor does not elect to exercise its termination rights pursuant to subparagraph (iii) of the present section, L▇▇▇▇▇ agrees that in its consent to any request of the Lessee to a sublet or assignment pursuant to the present section shall not be unreasonably withheld, conditioned or delayed.
8.2 Save as stipulated in Section 8.3, if, at any time during the Term, effective control of the Lessee is acquired or exercised by any person(s) or entity(ies) not having effective control of the Lessee on the date of execution of this Lease, whether pursuant to a sale of shares or other transaction or by operation of law, same shall be deemed a...
SUB LEASE AND ASSIGNMENT. Tenant will not assign this lease or sublet all or part of the premises or permit any other person to use the premises. If Tenant does, Landlord has the right to cancel the lease as stated in the default section. Tenant must get Landlord's written permission if Tenant wants to assign or sublet this lease. Tenant remains bound to the terms of this lease after a permitted assignment or sublet even if Landlord accepts rent from the assignee or subtenant. Tenant is responsible for any acts for any assignee or subtenant.
SUB LEASE AND ASSIGNMENT. The Tenant covenants not to assign or transfer this lease, or any interest therein, or sub-let said premises or any part thereof without the written assent of the Landlord. PURPOSE OF TENANCY It is understood and agreed between the parties hereto, that said premises during the continuance of this lease shall be used and occupied only for residence purposes. FIRE CLAUSE In case the premises hereby leased shall be damaged by fire or other cause at any time during the said term they shall be repaired by the Landlord and a proportionate reduction of rent shall be allowed the Tenant for the time occupied in such repairs, excepting if the Tenant can use and occupy the premises without substantial inconvenience there shall be no reduction. In case the damage by fire or other cause shall amount substantially to the destruction of the premises leased, then and in that event, Landlord and Tenant, each to the other, with reference to the unexpired term shall cease with no liability each to the other. LIABILITY That the Landlord or Management shall not be liable to any occupant of this apartment for damage because of any inconvenience or injury suffered or damage to such person or property, for or by reason of failure to furnish sufficient heat, gas, electricity or telephone service to the apartment, or for damages resulting from explosion, fire, bursting, freezing, backing up or overflowing of any water, gas, sewer or steam pipes; nor shall the Landlord be responsible for the loss of personal property from the above causes or from theft or fire. The consideration for this being the agreement of Management to rebate or refund rent for the period during which the premises are unrentable. CARE OF PREMISES The Tenant shall not use or suffer or permit any person or persons in any manner whatsoever to use said premises for any purpose in violation of the laws of the United States or of the State of Michigan, or of the ordinances or other regulations of the City of Sterling Heights, or of any lawful authority. CONDEMNATION If the whole or any part of the premises hereby leased shall be condemned or taken by any city county, federal, state or other authority for any purpose, then the term of this lease shall become null and void with no liability to the Landlord or Tenant, each to the other. PLAYING OF MUSICAL INSTRUMENTS The policy of this Management has always been to keep tenants satisfied by giving them all that they are entitled to as tenants of this complex. The playin...
SUB LEASE AND ASSIGNMENT