Common use of SUBLET OR ASSIGN Clause in Contracts

SUBLET OR ASSIGN. The LESSEE shall have the right, during the term of this Lease, to sublet all or a portion of the premises, or to assign this Lease, either in whole or in part, but no such subletting or assignment shall release the LESSEE from any of the obligations under the terms of this Lease, and the LESSOR shall, at all times, have the right to look to the LESSEE for the performance of all of the covenants to be performed on the part of the LESSEE. Provided, however, that: 1) if the assignment or sublease is for retail grocery store purposes, then, effective the first day of the first month of the effective date of such subletting or assignment, the minimum annual rent, payable under paragraph 6.A. hereof, shall be adjusted to an amount equal to ninety percent (90%) of the average annual total of minimum rent plus percentage rent payable by LESSEE pursuant to paragraphs 6.A. and 6.B. hereof for the three (3) years next preceding the effective date of such subletting or assignment; and 2) any assignment or subletting for any use of the premises other than that of a retail grocery store shall be sub- ject to LESSOR'S approval, which shall not be unreasonably withheld. Provided, further, that in such latter event, the following rules shall apply: A. any such proposed assignment or sublease shall be reduced to writing, signed by the proposed assignee or sublessee and by LESSEE; B. such written instrument shall expressly state that it is entered into subject to the rights of LESSOR, as set forth in this para- graph, and that if LESSOR elects to cancel this Lease, the parties thereto recognize and agree that neither LESSEE nor said proposed assignee or sublessee shall have any further rights or duties under said written agreement, which shall terminate upon the termination of this Lease; C. LESSEE shall furnish a copy of said instrument to LESSOR; ▇. ▇▇▇▇▇▇ shall have the option, exerciseable by LESSOR furnishing written notice of exercise thereof to LESSEE within sixty (60) days after LESSOR'S receipt of a copy of such instrument, to terminate this Lease. If LESSOR so elects to terminate this Lease, neither LESSOR nor LESSEE shall have any further rights or duties here- under; E. if LESSOR fails to exercise such option within said sixty (60) day period, then the agreement between LESSEE and said proposed assignee or sublessee shall be effective in accordance with the terms and provisions set forth in such instrument. If LESSEE and such proposed assignee or sublessee do not enter into an agreement on the same terms as were contained in the instrument furnished to LESSOR, then LESSOR'S sixty (60) day option rights shall begin anew with respect to any different terms proposed to be entered into between LESSEE and said (or any new) proposed assignee or sublessee; F. if LESSOR exercises the option to terminate this Lease, as herein provided, then LESSOR shall be free to negotiate or contract (or refrain from negotiating or contracting) with such proposed assignee or sublessee, as LESSOR deems appropriate.