Common use of ASSIGNMENT AND SUBLEASING BY TENANT Clause in Contracts

ASSIGNMENT AND SUBLEASING BY TENANT. Without the written consent of Landlord first obtained in each case, Tenant shall not assign, transfer, mortgage, pledge, or otherwise encumber or dispose of this Lease for the term hereof, or underlet the Leased Premises or any part thereof or permit the Leased Premises to be occupied by anybody other than the Tenant. No assignment of this Lease nor sublease of the Leased Premises shall release Tenant from any obligations contained herein. The Landlord may after default by the Tenant collect or accept rent from the assignee, undertenant, or occupant and apply the net amount collected or accepted to the rent and other amounts herein reserved, but no such collection or acceptance shall be deemed a waiver of this covenant or the acceptance of the assignee, undertenant or occupant as Tenant, nor shall it be construed as, or implied to be, a release of the Tenant from the further observance and performance by the Tenant of the terms, provisions, covenants and conditions herein contained. In the event Tenant desires Landlord's consent to any assignment or sublease Tenant shall provide such information as Landlord shall reasonably require to evaluate the proposed assignee or subtenant, including without limitation, name, references, audited financial statements and nature of business. Any assignee or subtenant must agree in writing to be bound by all terms and provisions hereof (except that as to subtenants, the subtenant's rental will be governed by its sublease).

ASSIGNMENT AND SUBLEASING BY TENANT. Without the written consent of Landlord first obtained in each case, Tenant shall not assign, transfer, mortgage, pledge, or otherwise encumber or dispose of this Lease for the term hereof, or underlet the Leased Premises or any part thereof or permit the Leased Premises to be occupied by anybody other than the Tenant. No assignment of this Lease nor sublease of the Leased Premises shall release Tenant from any obligations contained herein. The Landlord may after default by the Tenant collect or accept rent from the assignee, undertenant, or occupant and apply the net amount collected or accepted to the rent and other amounts herein reserved, but no such collection or acceptance shall be deemed a waiver of this covenant or the acceptance of the assignee, undertenant or occupant as Tenant, nor shall it be construed as, or implied to be, be a release of the Tenant from the further observance and performance by the Tenant of the terms, provisions, covenants and conditions herein contained. In the event Tenant desires desired Landlord's ’s consent to any assignment or sublease Tenant shall provide such information as Landlord shall reasonably require to evaluate the proposed assignee or subtenant, including without limitation, name, references, audited financial statements and nature of business. Any assignee or subtenant must agree in writing to be bound by all terms and provisions hereof (except expect that as to subtenants, the subtenant's ’s rental will be governed by its sublease).

ASSIGNMENT AND SUBLEASING BY TENANT. Without In addition to the written consent terms and conditions of Landlord first obtained in each case, Tenant shall not assign, transfer, mortgage, pledge, or otherwise encumber or dispose Sections 16.01 and 16.02 of this Lease for the term hereofAgreement, any sublease or underlet the Leased Premises or any part thereof or permit the Leased Premises to be occupied by anybody other than the Tenant. No assignment of this Lease nor sublease Agreement shall be in accordance with each of the Leased Premises conditions set forth below: (a) No sublease or assignment shall release relieve Tenant from primary liability for any of its obligations contained herein. The Landlord may after default by hereunder, and in the event of any such assignment or subletting Tenant collect or accept rent from the assigneeshall continue to remain primarily liable for all payments to be made hereunder, undertenant, or occupant and apply the net amount collected or accepted to the rent for performance and other amounts herein reserved, but no such collection or acceptance shall be deemed a waiver of this covenant or the acceptance observance of the assigneeagreements on its part herein provided to be performed and observed by it. (b) Unless otherwise agreed by Landlord and the Director, undertenant or occupant as Tenant, nor shall it be construed as, or implied to be, a release of the Tenant from the further observance and performance by the Tenant of the terms, provisions, covenants and conditions herein contained. In the event Tenant desires Landlord's consent to any assignment or sublease shall retain for Tenant such rights and interests as will permit it to perform its obligations under this Lease Agreement, and any assignee from Tenant shall provide assume the obligations of Tenant hereunder to the extent of the interest assigned. (c) Tenant shall, within 10 days after execution thereof, furnish or cause to be furnished to Landlord, the Director and the Trustee, a true and complete copy of each such information assignment or sublease, as Landlord shall reasonably require to evaluate the proposed case may be, together with a written instrument of assumption executed by the assignee or subtenantsublessee in form and substance reasonably satisfactory to Landlord and the Director. (d) Any assignment or sublease shall be consistent with, including without limitationand shall not materially impair fulfillment of, namethe purposes of the Act or the Port Act to be accomplished by operation of the Project; (e) Any sublease shall state clearly that it is subject and subordinate to this Lease Agreement, referencesthe Assignment, audited financial statements the Loan Agreement and nature of business. the Mortgage. (f) Any assignee or subtenant must agree sublease shall clearly state that Landlord has no obligations to the sublessee, and that the sublessee shall look solely to Tenant for the performance of the obligations of lessor under said sublease. (g) Any assignee or sublessee shall not be in writing bankruptcy at the time the assignment or sublease is executed. Within 45 days following the later of (i) fulfillment of each of the foregoing conditions and (ii) receipt by Landlord of a written request from Tenant, Landlord shall execute and deliver to be bound by all terms Tenant a non-disturbance and provisions hereof (except that as attornment agreement and estoppel certificate in form and substance reasonably satisfactory to subtenants, the subtenant's rental will be governed by its sublease)Landlord.