Common use of Term; Assignment Clause in Contracts

Term; Assignment. (a) If the Licensee validly renews the Term, then the Licence shall be deemed to have been renewed or extended for a further period coinciding with the Further Term. (b) It is a condition of the Licence that the Lease shall not be determined and shall not be assigned without the contemporaneous assignment of the Licence and that the Licence of the Car Bays shall not be assigned without the contemporaneous assignment of this Lease and that on the happening of any such events the Licence shall be forthwith determinable by notice in writing to the Licensee.

Appears in 2 contracts

Sources: Lease, Lease