Assignment and Subleasing by the City. This Lease may not be assigned by the City, other than to an entity which succeeds to the interests of the City as a municipal corporation. The City may sublease the Leased Property, or any portion thereof, subject to all of the following conditions:
(a) This Lease and the obligation of the City to make Lease Payments hereunder must remain obligations of the City.
(b) The City must, within 30 days after the delivery thereof, furnish or cause to be furnished to the Authority and the Trustee a true and complete copy of such sublease.
(c) No such sublease by the City may cause the Leased Property to be used for a purpose which is not authorized under the provisions of the laws of the State of California.
(d) The City must furnish to the Authority and the Trustee a written opinion of Bond Counsel stating that such sublease does not cause the interest components of the Lease Payments to become included in gross income for purposes of federal income taxation or to become subject to personal income taxation by the State of California.
Assignment and Subleasing by the City. This Lease Agreement may not be assigned by the City. Subject to the terms and conditions of the Permitted Encumbrances, the City may sublease the Leased Premises or any portion thereof, but only with the written consent of the Authority and subject to all of the following conditions:
(i) This Lease Agreement and the obligation of the City to make Rental Payments hereunder shall remain obligations of the City;
(ii) The City shall, within thirty (30) days after the delivery thereof, furnish or cause to be furnished to the Authority and the Trustee a true and complete copy of such sublease;
(iii) No such sublease shall cause the Leased Premises to be used for a purpose other than as may be authorized under the provisions of the Constitution and laws of the State;
(iv) The City shall furnish the Authority and the Trustee with a written opinion of nationally-recognized bond counsel, stating that such sublease does not cause the interest on any of the Tax-Exempt Bonds to be included in gross income for federal income tax purposes; and
(v) Any sublease of the Leased Premises shall explicitly provide that such sublease is subject to all rights of the Authority under the Site and Facility Lease and this Lease Agreement.
Assignment and Subleasing by the City. Except as hereinafter expressly provided, none of the City’s right, title and interest in, to and under the License and Easement, this Lease and in the Project may be assigned or encumbered by the City for any reason; except that the City may sublease any one or more parts of the Project if the City obtains an Opinion of Special Tax Counsel that such subleasing will not adversely affect the exclusion of the Interest Portion of the Basic Rent Payments from gross income for purposes of federal income taxation. Any such sublease of all or part of the Project will be subject to the License and Easement, this Lease and the rights of the Trustee in, to and under the License and Easement, this Lease and the Project.
Assignment and Subleasing by the City. This Lease may not be assigned by the City for any reason other than to a successor by operation of law. However, the Leased Property may be subleased, as a whole or in part, by the City without the necessity of obtaining the consent of the Trustee or any owner of the Certificates, subject to each of the following conditions:
(a) The Leased Property may be subleased, in whole or in part, only to an agency or department of, or a political subdivision of, the State, or to another entity or entities with Approval of Special Counsel;
(b) This Lease, and the obligations of the City hereunder, shall, at all times during the Lease Term remain obligations of the City, and the City shall maintain its direct relationships with the Trustee, notwithstanding any sublease;
(c) No sublease by the City shall cause the Leased Property to be used for any purpose which would cause the City to violate its tax covenant in Section 12.5 hereof;
(d) The City shall furnish or cause to be furnished to the Trustee a copy of any sublease agreement; and
(e) Any sublease of the Leased Property shall provide that it is subject to the terms and conditions of this Lease and that, except as hereinafter provided, it shall automatically terminate upon a termination of this Lease; provided, however, that upon a termination of this Lease due to an Event of Lease Default or Event of Non-appropriation, the Trustee may, upon notification to the sublessee, keep any such sublease in full force and effect as a direct lease by the Trustee to the sublessee.
Assignment and Subleasing by the City. Neither this Sublease Agreement nor any interest of the City hereunder shall be sold, mortgaged, pledged, assigned, or transferred by the City by voluntary act or by operation of law or otherwise. The City shall not sublease the Property, or any portion thereof.
Assignment and Subleasing by the City. Neither this Lease nor the City's interest in the Property may be assigned by the City without the written consent of Xxxxxx. However, the Property may be subleased by the City, in whole or in part, without the consent of Lessor, subject, however, to each of the following conditions:
(i) This Lease and the obligation of the City to make Rental Payments hereunder, shall remain obligations of the City.
(ii) The City shall, within thirty (30) days after the delivery thereof, furnish or cause to be furnished to Lessor a true and complete copy of such sublease.
(iii) No sublease by the City shall cause the Property to be used for a purpose other than a governmental function authorized under the provisions of the Constitution and laws of Texas.
(iv) No sublease shall cause the Interest component of the Rental Payments due with respect to the Property to become includible in gross income of the recipient for federal income tax purposes.
Assignment and Subleasing by the City. Except as hereinafter expressly provided, none of the City’s right, title and interest in, to and under the Base Lease, this Lease and in the Leased Property may be assigned or encumbered by the City for any reason; except that the City may, sublease any one or more parts of the Leased Property if the City obtains an Opinion of Special Tax Counsel that such subleasing will not adversely affect the exclusion of the Interest Portion of the Basic Rent Payments from gross income for purposes of federal income taxation. Any such sublease of all or part of the Leased Property will be subject to the Base Lease, this Lease and the rights of the Trustee in, to and under the Base Lease, this Lease and the Leased Property.
Assignment and Subleasing by the City. None of the City’s right, title and interest in, to and under this Lease Purchase Agreement and in the Facilities may be assigned or encumbered by the City for any reason, except to the extent so assigned or encumbered by the Project Documents, and except that the City may sublease all or part of the Facilities if the City obtains the prior written consent of the Bank and an opinion of nationally recognized counsel in the area of tax-exempt obligations of state and local governments satisfactory to the Bank that such subleasing will not adversely affect the exclusion of the interest components of the Rental Payments from gross income for federal income tax purposes. Any such sublease of all or part of the Facilities will be subject to this Lease Purchase Agreement and the rights of the Bank in, to and under this Lease Purchase Agreement and the Facilities.
Assignment and Subleasing by the City. This Lease Agreement may not be assigned by the City. The City may sublease the Property or any portion thereof, subject to, and delivery to the Authority and the Trustee of a certificate as to, all of the following conditions:
(a) This Lease Agreement and the obligation of the City to make Lease Payments hereunder shall remain obligations of the City;
(b) The City shall, within thirty (30) days after the delivery thereof, furnish or cause to be furnished to the Authority and the Trustee a true and complete copy of such sublease (which the Trustee has no duty or obligation to review or examine and in no event shall be responsible for the contents of such sublease);
(c) No such sublease by the City shall cause the Property to be used for a purpose other than as may be authorized under any applicable provisions of the laws of the State; and
(d) The City shall furnish the Authority and the Trustee with a written opinion of Bond Counsel, stating that such sublease is permitted by this Lease Agreement.
Assignment and Subleasing by the City. This Lease Agreement may not be assigned by the City. The City may sublease the Property or any portion thereof, subject to, and delivery to the Agency of a certificate as to, all of the following conditions:
(a) This Lease Agreement and the obligation of the City to make Lease Payments here- under shall remain obligations of the City;
(b) The City shall, within thirty (30) days after the delivery thereof, furnish or cause to be furnished to the Agency and the Trustee a true and complete copy of such sublease;
(c) No such sublease by the City shall cause the Property to be used for a purpose other than as may be authorized under the provisions of the laws of the State; and
(d) The City shall furnish the Agency and the Trustee with a written opinion of Bond Counsel, stating that such sublease is permitted by this Lease Agreement and the Indenture, and will not, in itself, cause the interest on the Bonds to become included in gross income of the Owners of the Bonds for federal income tax purposes.
