ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge this Lease or any part thereof without the prior written consent of the Board. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease. B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board. C. All subleases shall be subject to all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
Appears in 4 contracts
Samples: Concessions Lease, Concession Lease Agreement, Concessions Lease
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth hereinLESSEE SHALL NOT SELL, Concessionaire shall TRANSFER, ASSIGN OR ENCUMBER THE SYSTEM OR ANY PART THEREOF, LESSOR'S TITLE OR LESSEE'S RIGHTS UNDER THIS AGREEMENT. LESSEE SHALL NOT, WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR, SUBLET OR PART WITH POSSESSION OF THE SYSTEM OR ANY PART THEREOF. This Agreement may not assign, sublet, sell, convey, transfer, mortgage, be assigned in whole or pledge this Lease or any in part thereof by either Party without the prior written consent of the Boardother Party, which consent shall not be unreasonably withheld or delayed. Any restrictions Notwithstanding the foregoing, Lessor may, without the prior written consent of Lessee, (i) assign, mortgage, pledge or otherwise collaterally assign its interests in this Agreement and the System to any Financing Party, (ii) directly or indirectly assign this Agreement and the System to an affiliate or subsidiary of Lessor, (iii) assign this Agreement and the System to any entity through which form Lessor is obtaining financing or capital for the System and (iv) assign this Agreement and the System to any person succeeding to all or substantially all of the assets of Lessor (provided that Lessor shall be released from liability hereunder as a part result of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, foregoing permitted assignments only upon assumption of Lessor’s obligations hereunder by the Board shall have the right in its sole discretion, to withhold its consentassignee). Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease.
B. In the event Concessionaire mergesof any such assignment, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out Lessor shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases shall be subject to released from all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and other obligations arising hereunderunder this Agreement. However, any assignment of Lessor’s right and/or obligations under this Agreement, shall not result in any change to Lessee’s rights and obligations under this Agreement. Lessee’s Lessee’s consent to any other assignment shall not be unreasonably withheld if Lessee has been provided with reasonable proof that the proposed assignee (x) has comparable experience in operating and maintaining photovoltaic solar systems comparable to the System and providing services comparable to those contemplated by this Agreement and (y) has the financial capability to maintain the System and provide the services contemplated by this Agreement in the manner required by this Agreement. This Agreement shall be binding on and inure to the benefit of the successors and permitted assignees.
Appears in 4 contracts
Samples: Solar Equipment Lease Agreement, Solar Equipment Lease Agreement, Solar Equipment Lease Agreement
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge this Lease or any part thereof without the prior written consent of the Board. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease.
B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases shall be subject to all of the Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation obligations hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
D. The Board will communicate directly with Concessionaire, not Sublease, regarding any rent obligations that occur during the term of the Lease.
Appears in 2 contracts
Samples: Concession Lease Agreement, Concession Lease Agreement
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge this Lease or any part thereof without the prior written consent of the Board. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease.
B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases shall be subject to all of the Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation obligations hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
D. The Board will communicate directly with Concessionaire or lease holder, not Sublease, regarding any rent obligations that occur during the term of the Lease.
Appears in 2 contracts
Samples: Concession Lease Agreement, Concession Lease Agreement
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth hereinLESSEE SHALL NOT SELL, Concessionaire shall TRANSFER, ASSIGN OR ENCUMBER THE SYSTEM OR ANY PART THEREOF, LESSOR'S TITLE OR LESSEE'S RIGHTS UNDER THIS AGREEMENT. LESSEE SHALL NOT, WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR, SUBLET OR PART WITH POSSESSION OF THE SYSTEM OR ANY PART THEREOF. This Agreement may not assign, sublet, sell, convey, transfer, mortgage, be assigned in whole or pledge this Lease or any in part thereof by either Party without the prior written consent of the Boardother Party, which consent shall not be unreasonably withheld or delayed. Any restrictions Notwithstanding the foregoing, Lessor may, without the prior written consent of Lessee, (i) assign, mortgage, pledge or otherwise collaterally assign its interests in this Agreement and the System to any Financing Party, (ii) directly or indirectly assign this Agreement and the System to an affiliate or subsidiary of Lessor, (iii) assign this Agreement and the System to any entity through which form Lessor is obtaining financing or capital for the System and (iv) assign this Agreement and the System to any person succeeding to all or substantially all of the assets of Xxxxxx (provided that Lessor shall be released from liability hereunder as a part result of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, foregoing permitted assignments only upon assumption of Xxxxxx’s obligations hereunder by the Board shall have the right in its sole discretion, to withhold its consentassignee). Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease.
B. In the event Concessionaire mergesof any such assignment, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out Lessor shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases shall be subject to released from all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and other obligations arising hereunderunder this Agreement. However, any assignment of Lessor’s right and/or obligations under this Agreement, shall not result in any change to Xxxxxx’s rights and obligations under this Agreement. Lessee’s Lessee’s consent to any other assignment shall not be unreasonably withheld if Lessee has been provided with reasonable proof that the proposed assignee (x) has comparable experience in operating and maintaining photovoltaic solar systems comparable to the System and providing services comparable to those contemplated by this Agreement and (y) has the financial capability to maintain the System and provide the services contemplated by this Agreement in the manner required by this Agreement. This Agreement shall be binding on and inure to the benefit of the successors and permitted assignees.
Appears in 2 contracts
Samples: Solar Equipment Lease Agreement, Solar Equipment Lease Agreement
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge Either party may transfer an interest in this Lease or the Premises or any part thereof interest that is acquired hereunder or is subject hereto to an Affiliate of that party. Neither party, nor any successor or assign, direct or indirect, of either party, shall transfer, assign, or sublet any interest in, or control of, this Lease or the Premises or any interest that is acquired hereunder or is subject hereto to any other person, partnership, limited liability company, joint venture, corporation, or other form of enterprise without the prior written consent of the Board. Any restrictions other party, which form consent shall not be unreasonably withheld, delayed or conditioned; provided that Xxxxx may condition its approval by requiring that the proposed assignee be a part of any written consent granted shall be incorporated into a written instrument skilled and shall form a part of this Lease. Due to experienced operator engaged in the significance of this Lease US or Canadian mining industry and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretionfinancial wherewithal to fulfill the obligations of Tectonic hereunder; and provided further, to withhold its consent. Concessionaire shall not usethat no such transfer, assignment, or permit sublease by Tectonic shall reserve or create (or include any person agreement or undertaking to usereserve or create at any time) a royalty interest, the Premises, improvements thereonother right to receive a share of production, or any portion thereofother payment based upon, except measured by, or otherwise payable with respect to, production, including without limitation production royalties, overriding royalties, production payments, net smelter returns, net proceeds, or net profits, covering any of the Premises (or any interest acquired hereunder or subject hereto) that together with all such other royalties or interests in the aggregate exceeds 50% of the applicable royalty rate payable to Xxxxx under this Lease for (a) Net Proceeds, in the purposes as provided case of net proceeds or net profits interests or (b) Net Smelter Returns, in the case of net smelter returns, production royalties, overriding royalties, production payments, or any other royalty interests. No assignment by either party shall be enforceable against or binding upon the other party unless the assignee agrees in writing to assume the obligations of the assignor. Tectonic shall not mortgage, pledge, or otherwise encumber its interest in this Lease.
B. In Lease or in the event Concessionaire mergesPremises or any interest that is acquired hereunder or is subject hereto without specific reference to the fact that such mortgage, consolidatespledge, acquires, affiliatessecurity interest, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases instrument shall be subject to all terms and provisions of Concessionairethis Lease including specifically and without limitation Doyon’s obligations hereunderroyalty rights under SECTION 14 and the contracting and hiring preferences set forth in SECTION 7. Subtenants must execute a written sublease containing an agreement Xxxxx shall have the right to perform require Tectonic to disclose to Xxxxx all terms and conditions of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunderany proposed transfer or assignment by Tectonic.
Appears in 2 contracts
Samples: Mining Lease, Mining Lease
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, No part of the Leased Premises or pledge this Lease may be assigned, mortgaged or subleased by Tenant, nor may a right of use of any part thereof portion of the property be conferred on a third person by any other means, without the prior written consent of Landlord which consent shall not be unreasonably withheld. This provision shall apply to all transfers by operation of law and transfers to and by trustees in bankruptcy, receivers, administrators, executors and legatees. No consent in one instance shall prevent this provision from applying to a subsequent instance. Landlord shall consent to a transaction covered by this provision when withholding such consent would be unreasonable in the Boardcircumstances. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of Notwithstanding anything to the contrary contained in this Lease. Due to the significance of , Landlord and Tenant agree as follows: Tenant may assign this Lease and or sublet the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, Leased Premises or any portion thereof, except without Landlord's consent, to any entity which controls, is controlled by, or is under common control with Tenant; to any entity which results from a merger of, reorganization of, or consolidation with Tenant; to any entity engaged in a joint venture with Tenant; or to any entity engaged in a joint venture with Tenant; or to any entity which acquires substantially all of the stock or assets of Tenant, as a going concern, with respect to the business that is being conducted in the Leased Premises (hereinafter each a "Permitted Transfer"). In addition, an assignment by Tenant which results from or occurs in connection with a sale or transfer of the capital stock of Tenant shall be deemed a Permitted Transfer if (1) such sale or transfer of capital stock occurs in connection with any bona fide financing or capitalization for the purposes as provided in this Lease.
B. In the event Concessionaire merges, consolidates, acquires, affiliatesbenefit of Tenant, or associates with any other person, company, corporation (2) such sale or transfer of capital stock is under the auspices of the NASDAQ or other entity, regional or national stock exchange. Landlord shall have no right to terminate the Lease in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Articleconnection with, and shall subject this Lease have no right to termination by the Boardany sums or other economic consideration resulting from, any Permitted Transfer.
C. All subleases shall be subject to all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
Appears in 1 contract
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge this Lease or any part thereof without the prior written consent of the Board. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease.
B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases shall be subject to all of Concessionaire’s Concessionaire‘s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s Concessionaire‘s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
Appears in 1 contract
Samples: Concessions Lease
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge this Lease Agreement or any part thereof without the prior written consent of the Board. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of this LeaseAgreement. Due to the significance of this Lease Agreement and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the PremisesAirport, improvements thereon, or any portion thereof, except for the purposes as provided in this LeaseAgreement.
B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease Agreement by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease Agreement to termination by the Board.
C. All subleases shall be subject to all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
Appears in 1 contract
Samples: Retail Vending Agreement
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire (a) Licensee shall not assign, sublet, sell, convey, transfer, mortgageassign this Agreement or any Equipment Schedule, or pledge this Lease lease or sublicense the use of any part thereof of the Equipment, without the prior written consent of the Board. Any restrictions Licensor in each instance, which form a part of consent shall not be unreasonably withheld by Licensor; provided, however, Licensee may assign this Agreement or any Equipment Schedule without Licensor's prior written consent granted (i) to any direct or indirect subsidiary of Licensee, (ii) to any person or entity resulting from a reorganization of Licensee, (iii) to any person or entity with which Licensee is merged or consolidated, (iv) to any person or entity that acquires all or substantially all of Licensee's assets or equity securities of whatever type, (v) to Licencees's existing lenders or any other lender(s) pursuant to loan documents evidencing debt obligations of Licensee (provided such lender(s) shall be incorporated into a written instrument and shall form a part have all rights of this Lease. Due cure available to the significance of this Lease and the nature of the services Licensee hereunder) or (vi) to be provided hereunderany person or entity that controls, the Board is controlled by or is under common control with Licensee.
(b) Licensor shall have the right to freely assign this Agreement and any or all of the Equipment Schedules. In order to facilitate the financing of the Equipment, Licensor may enter into agreements with one or more parties pursuant to which, inter alia, Licensor may assign its right, title and interest in this Agreement to such parties (referred to herein individually as a "FINANCING PARTY" and collectively, as "FINANCING PARTIES"). Licensee irrevocably consents to the transfer and assignment of Licensor's right, title and interest in this Agreement to any and all Financing Parties and hereby acknowledges and agrees for the benefit of each such Financing Party that upon receipt by Licensor of written notice from a Financing Party that an event of default has occurred and is continuing under any financing arrangements between such Financing Party and Licensor with respect to the Equipment (such documents referred to herein as the "FINANCING DOCUMENTS"), and a statement to the effect that such Financing Party has elected to exercise its sole discretion, remedies pursuant to withhold its consent. Concessionaire shall not use, or permit any person to usethe Financing Documents and this Agreement as a consequence of such default, the Premises, improvements thereon, or any portion thereof, except for Financing Party shall have the purposes as provided in this Lease.
B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entityrights of Licensor hereunder, and such mergerLicensee shall deal exclusively and directly with the Financing Party or its designee(s) or assignee(s), consolidation, acquisition, affiliation, association or buy out results in a change of control or management of as the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Articlecase may be, and shall subject this Lease to termination by the Boardnot Licensor.
C. All subleases shall be subject to all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
Appears in 1 contract
Samples: Master License Agreement (Access Integrated Technologies Inc)
ASSIGNMENT AND SUBLEASE. A. Except as explicitly set forth herein, Concessionaire shall not assign, sublet, sell, convey, transfer, mortgage, or pledge this Lease or any part thereof without the prior written consent of the Board. Any restrictions which form a part of any written consent granted shall be incorporated into a written instrument and shall form a part of this Lease. Due to the significance of this Lease and the nature of the services to be provided hereunder, the Board shall have the right in its sole discretion, to withhold its consent. Concessionaire shall not use, or permit any person to use, the Premises, improvements thereon, or any portion thereof, except for the purposes as provided in this Lease.
B. In the event Concessionaire merges, consolidates, acquires, affiliates, or associates with any other person, company, corporation or other entity, or in any manner whatsoever either is bought out or buys out another person, company, corporation or other entity, and such merger, consolidation, acquisition, affiliation, association or buy out results in a change of control or management of the operations authorized herein, then in that event, such merger, consolidation, acquisition, affiliation, association or buy out shall be considered by the Board as an Assignment of this Lease by Concessionaire which requires the prior approval of the Board and any such merger, consolidation, acquisition, affiliation, association or buy out without such consent shall be violation of this Article, and shall subject this Lease to termination by the Board.
C. All subleases shall be subject to all of Concessionaire’s obligations hereunder. Subtenants must execute a written sublease containing an agreement to perform all of Concessionaire’s obligation hereunder during the term of the sublease. No sublease shall operate to release Concessionaire of its liabilities and obligations arising hereunder.
Appears in 1 contract
Samples: Concession Lease Agreement