Common use of ASSIGNMENT AND SUB-LEASING Clause in Contracts

ASSIGNMENT AND SUB-LEASING. The Tenant shall not assign, mortgage, pledge or encumber this Lease or the demised premises, or sublet the whole or any part of the demised premises, without the Landlord’s prior written consent. In the event of such assignment of this Lease, or subletting, the Tenant shall nevertheless remain liable to the Landlord for the performance of all the terms and conditions contained in this Lease. Any assignee or sub-tenant shall be bound by and perform all of the terms and conditions herein by which the Tenant is hereby bound. An assignment or sub-lease shall not constitute a novation. Landlord may, at any time and without advance notice, assign this Agreement and, in so doing, shall transfer to Assignee all rights and powers contained herein. The Landlord shall be entitled to retain the Tenant’s security deposit under the terms and conditions set forth herein regardless of the assignment of this Lease or the sub-letting of the demised premises.

ASSIGNMENT AND SUB-LEASING. The Tenant shall not assign, mortgage, pledge pledge, or encumber this Lease or the demised premises, or sublet the whole or any part of the demised premises, without the Landlord’s prior written consent. In the event of such assignment of this Lease, or subletting, the Tenant shall nevertheless remain liable to the Landlord for the performance of all the terms and conditions contained in this Lease. Any assignee or sub-tenant shall be bound by and perform all of the terms and conditions herein by which the Tenant is hereby bound. Any assignee or sub-tenant shall be required to submit a security deposit, equal to one month's rent, in additional to Tenant's. An assignment or sub-lease shall not constitute a novation. Landlord may, at any time and without advance notice, assign this Agreement and, in so doing, shall transfer to Assignee all rights and powers contained herein. The Landlord shall be entitled to retain the Tenant’s security deposit under the terms and conditions set forth herein regardless of the assignment of this Lease or the sub-letting of the demised premises.