Common use of Sublease/Assignment Clause in Contracts

Sublease/Assignment. Lessee acknowledges and agrees that Lessor may, subject to the terms of this Lease, sell, assign, grant a security interest in, or otherwise transfer all or any part of its rights, title and interest in this Lease and the Equipment; provided, however, that either (i) any such transfer shall be either to an affiliate of Lessor which does not provide telecommunications services which are competitive with those services then provided by the Company or its subsidiaries, or (ii) any such transfer (A) is to an institutional investor having a tangible net worth of not less than $50,000,000 and which does not provide telecommunications services which are competitive with those services then provided by the Company or its subsidiaries, and (B) will result in Lessor retaining at least a twenty-five percent (25%) interest in each Schedule to this Lease. Upon Lessor's written notice, Lessee shall, if requested, pay directly to such assignee without abatement, deduction or set-off all amounts which become due hereunder. Lessee