Common use of Assignment and Subletting Prohibited Clause in Contracts

Assignment and Subletting Prohibited. 9.01. Tenant, its legal representatives and successors in interest, shall not by operation of law or otherwise, assign (in whole or in part), mortgage, pledge, encumber or otherwise transfer this Lease or any part hereof or any interest of Tenant herein or in the Leased Property by reason hereof, or sublet the Leased Property, without Landlord's prior written consent. No assignment of this Lease shall be effective unless the assignee shall execute, acknowledge and deliver to Landlord an agreement, in form satisfactory to Landlord, whereby the assignee assumes all obligations of Tenant under this Lease, and agrees that the provisions of this Article 9 shall continue to be binding upon it in respect of all future assignments and deemed assignments of this Lease. No assignment of this Lease shall release the assignor from its continuing obligations to Landlord under this Lease and Tenant and any subsequent assignor shall continue to remain jointly and severally liable (as primary obligor) for all Tenant's obligations hereunder.