Examples of Transfer Premium in a sentence
Landlord hereby (a) consents to the termination of the Existing Sublease and (b) agrees that, notwithstanding anything to the contrary provided in the Existing Lease or the Existing Sublease Consent, Section 14.3 of the Existing Lease shall not apply to, and no Transfer Premium shall be payable by Tenant to Landlord with respect to, any payments by Subtenant to Sublandlord in consideration of or with respect to the termination of the Existing Sublease.
If Landlord consents to a Transfer, (i) such consent shall not be deemed a consent to any further Transfer, (ii) Tenant shall deliver to Landlord, promptly after execution, an executed copy of all documentation pertaining to the Transfer in form reasonably acceptable to Landlord, and (iii) Tenant shall deliver to Landlord, upon Landlord’s request, a complete statement, certified by an independent CPA or Tenant’s chief financial officer, setting forth in detail the computation of any Transfer Premium.
Payment of Landlord’s share of the Transfer Premium shall be made (x) in the case of an assignment, within 30 days after Txxxxx receives the consideration described above, and (y) in the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement, within 30 days after Txxxxx receives the rent and other consideration described above.
If Landlord consents to a Transfer (other than a Change of Control or a Permitted Transfer in which case this Section 14.3 shall not be applicable), Tenant shall pay Landlord an amount equal to 50% of any Transfer Premium (defined below).