Leaseback by Owner. (i) If Tenant shall desire to sublet or assign this Lease, Tenant shall submit a Tenant's Notice to Owner. Tenant's Notice shall be deemed an offer from Tenant to Owner whereby Owner (or Owner's designee) may, at its option, terminate this Lease (as to any assignment) or remove the portion of the premises sought to be sublet from the scope of the Lease (the "Sublet Premises"). Owner's option may be exercised by Owner by notice to Tenant at any time within thirty (30) days after receipt of Tenant's Notice to Owner; and during such thirty (30) day period Tenant shall not assign this Lease or sublet the premises to any person.
Leaseback by Owner. A. (1) If Tenant shall desire to assign this Lease or to sublet all or any portion of the Demised Premises to anyone other than a related corporation or a successor corporation, as more particularly set forth in Article 46 hereof, Tenant shall submit a Tenant’s Notice to Owner. Tenant’s Notice shall be deemed an offer from Tenant to Owner whereby Owner (or Owner’s designee) may, at its option, (1) sublease such space (the “Leaseback Space”) from Tenant upon the terms and conditions hereinafter set forth (if the proposed transaction is a sublease of all or a portion of the Demised Premises), or (ii) terminate this Lease (if the proposed transaction is an assignment or a sublease of all or substantially all of the Demised Premises). Said options may be exercised by Owner by notice to Tenant at any time within sixty (60) days after receipt of Tenant’s Notice to Owner; and during such sixty (60) day period Tenant shall not assign this Lease nor sublet such space to any person. In order for the provisions of this Article 47 to be effective, the proposed sublease must be for at least seventy five percent (75%) of the rentable square footage of the Demised Premises and for all or substantially all of the remaining term of this Lease (i.e., the proposed sublease shall expire in the last twelve (12) months of the term of this Lease). A Tenant’s Notice may be submitted simultaneously with Tenant’s delivery of its request for Owner’s consent to an assignment or sublease pursuant to Article 46 hereof.
Leaseback by Owner. A. (1) If Tenant shall desire to assign this Lease or to sublet all or any portion of the Demised Premises to anyone other than a related or a successor corporation, as more particularly set forth in Article 46 hereof, Tenant shall submit a Tenant's Notice to Owner. Tenant's Notice shall be deemed an offer from Tenant to Owner whereby Owner (or Owner's designee) may, at its option, (i) sublease such space (the "Leaseback Space") from Tenant upon the terms and conditions hereinafter set forth (if the proposed transaction is a sublease of all or a portion of the Demised Premises), or (ii) terminate this Lease (if the proposed transaction is an assignment or a sublease of all or substantially all of the Demised Premises). Said options may be exercised by Owner by notice to Tenant at any time within forty-five (45) days after receipt of Tenant's Notice to Owner; and during such forty-five (45) day period Tenant shall not assign this Lease nor sublet such space to any person.
