Common use of Affiliated Companies/Restructuring of Business Organization Clause in Contracts

Affiliated Companies/Restructuring of Business Organization. Occupancy of all or part of the Premises by a parent or wholly-owned subsidiary company of Lessee or by a wholly-owned subsidiary company of Lessee's parent company (collectively, "affiliated companies") shall not be deemed an assignment or subletting provided that any such affiliated companies were not formed as a subterfuge to avoid the obligations of this Article 12. If Lessee is a corporation, unincorporated association, trust or general or limited partnership, then the sale, assignment, transfer or hypothecation of any shares, partnership interest or other ownership interest of such entity which from time to time in the aggregate exceeds twenty-five percent (25%) of the total outstanding shares, partnership interests or ownership interests of such entity or which effects a change in the management or control of Lessee, or the dissolution, merger, consolidation or other reorganization of such entity, or the sale, assignment, transfer or hypothecation of more than forty percent (40%) of the value of the assets of such entity, shall be deemed an assignment subject to the provisions of this Article 12.

Affiliated Companies/Restructuring of Business Organization. Occupancy of all or part of the Premises by a parent subsidiary or wholly-owned subsidiary company affiliated companies of Lessee or by Tenant ( a wholly-owned subsidiary company of Lessee's parent company (collectively, "affiliated companiesPermitted Assignee") shall not be deemed an assignment or subletting provided that any such subsidiary or affiliated companies were not formed as a subterfuge to avoid the obligations obligation of this Article 1212 and Tenant owns more than a fifty-percent (50%) interest if such entity is controlled by Tenant. If Lessee Tenant is a corporation, unincorporated association, trust or general or limited partnership, then the sale, assignment, transfer or hypothecation of any shares, partnership interest interest, or other ownership interest of such entity which from time to time in the aggregate exceeds twentyfifty-five percent (2550%) of the total outstanding shares, partnership interests or ownership interests of such entity or which effects a change in the management or control of LesseeTenant, or the dissolution, merger, consolidation consolidation, or other reorganization of such entity, or the sale, assignment, transfer or hypothecation of more than forty forty-percent (40%) of the value of the assets of such entity, shall be deemed an assignment subject to the provisions of this Article 12.

Affiliated Companies/Restructuring of Business Organization. Occupancy of all or part of the Premises by a parent or wholly-wholly owned subsidiary company of Lessee or by a wholly-wholly owned subsidiary company of Lessee's parent company (collectively, "affiliated companies") shall not be deemed an assignment or subletting provided that any such affiliated companies were not formed as a subterfuge to avoid the obligations of this Article 12Article, and such entity fully assumes the obligations of Lessee herein. If Lessee is a corporation, unincorporated association, trust or general or limited partnership, then the sale, assignment, transfer or hypothecation of any shares, partnership interest interest, or other ownership interest of such entity which from time to time in the aggregate exceeds twenty-five percent (25%) of the total outstanding shares, partnership interests or ownership interests of such entity or which effects a change in the management or control of Lessee, or the dissolution, merger, consolidation consolidation, or other reorganization of such entity, or the sale, assignment, transfer or hypothecation of more than forty percent (40%) of the value of the assets of such entity, shall be deemed an assignment subject to the provisions of this Article 12Article.