Alienation. Not to assign sub-let or part with the possession of the Lease Premises or any part thereof without first obtaining the Lessor’s written consent (which consent shall not be unreasonably withheld) AND IT IS HEREBY EXPRESSLY AGREED AND DECLARED THAT upon any breach by the Lessee of this covenant it shall be lawful for the Lessor to re-enter upon the Lease Premises without notice and thereupon the Term shall determine absolutely. For the purpose of this sub-clause, if the Lessee is a partnership firm business or limited liability company the transfer of the beneficial interest in more than 50% of its holding or issued share capital shall be deemed to be an assignment. The Parties hereby agree that the Lessor’s consent required under this Clause shall not be unreasonably withheld and where consent is denied, the Lessor shall promptly notify the Lessee of the reasons of such rejection and where applicable indicate conditions, if any that the Lessee should meet before such consent is granted.
Appears in 14 contracts
Samples: Commercial Lease Agreement, Commercial Lease Agreement, Commercial Lease Agreement
