Common use of SUBLEASING AND ASSIGNMENT Clause in Contracts

SUBLEASING AND ASSIGNMENT. Subtenant shall not and shall have no right to voluntarily, involuntarily or by operation of law, assign, transfer, hypothecate or otherwise encumber this Sublease, or any interest herein, and shall not sublet nor permit the use by others of the Subleased Premises or any part thereof without first obtaining in each instance Sublandlord's prior written consent, which consent Sublandlord shall be entitled to withhold in its sole discretion. Any such assignment, sublease, transfer or hypothecation without Sublandlord's prior written consent shall be null and void and shall constitute an immediate event of default under this Sublease. No acceptance by Sublandlord of any rent or any other sum of money from any assignee, sublessee or other category of transferee shall release Subtenant from any of its obligations hereunder or be deemed to constitute Sublandlord's consent to any assignment, sublease, transfer or hypothecation.