Assignment and Subletting; Prohibition against Leasehold Financing Sample Clauses

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Tenant shall not have the right to assign this Lease or sublet more than twenty-five percent (25%) of the leaseable space in the Improvements except as otherwise expressly set forth in this Paragraph 21. (b) Tenant shall have the right upon thirty (30) days prior written notice to Landlord and Lender, with no consent of Landlord or Lender being required, to assign this Lease to any Person, provided that, unless such Person is a wholly-owned subsidiary of either Guarantor or any Tenant, as a condition to any such assignment Tenant shall provide to Landlord, no later than the date on which such assignment shall become effective, a security deposit equal to eighteen (18) months of the Basic Rent then in effect (the “Assignment Security Deposit”). (c) Tenant shall have the right to sublease all or any portion of any Related Premises to any one or more subtenants without the prior written consent of Landlord or Lender provided, that, (i) if at any time there are subleases which in the aggregate result in there being under sublease more than twenty-five percent (25%) but less than fifty percent (50%) of the leasable space in the Improvements (a “Level 1 Subleasing”) then, Tenant shall provide to the Landlord a security deposit equal to six (6) months of the Basic Rent then in effect (a “Level 1 Sublease Security Deposit”) no later than the date on which the Level 1 Subleasing shall become effective, and (ii) if at any time there are subleases which in the aggregate sublease more than fifty percent (50%) of the leaseable space in the Improvements (a “Level 2 Subleasing”) then, Tenant shall increase the Level 1 Sublease Security Deposit to equal twelve (12) months of the Basic Rent then in effect (a “Level 2 Sublease Security Deposit”). (d) If Tenant assigns all its rights and interest under this Lease, the assignee under such assignment shall expressly assume all the obligations of Tenant hereunder, actual or contingent, including obligations of Tenant which may have arisen on or prior to the date of such assignment, by a written instrument delivered to Landlord at the time of such assignment. Each sublease of any of the Related Premises shall (A) be expressly subject and subordinate to this Lease and any Mortgage encumbering the Leased Premises; (B) not extend beyond the then current Term minus one day; (C) terminate upon any termination of this Lease, unless Landlord elects in writing, to cause the sublessee to attorn to and recognize Landlord as the lessor...

Assignment and Subletting; Prohibition against Leasehold Financing. (i) Except as otherwise expressly provided to the contrary in this Paragraph 21, Tenant may not assign, transfer, mortgage, pledge, hypothecate or otherwise encumber this Lease, or sublet or rent or permit the occupancy or use by any Person (including, without limitation, any licensee, concessionaire or franchisee or any person other than Tenant) of the Leased Premises or any part thereof, voluntarily or involuntarily, whether by operation of law or otherwise to any Person (each of the foregoing hereinafter referred to as a "Transfer") without the prior written consent of Landlord, which consent may be granted or withheld by Landlord in accordance with the provisions of Paragraphs 21(a)(ii) and (iii) below, as applicable, and subject, in each case, to the provisions of Paragraph 21(h) below. Any purported sublease or assignment in violation of this Paragraph 21 shall be null and void. In addition, notwithstanding anything to the contrary contained in this Paragraph 21, Tenant shall not have the right to assign this Lease (voluntarily or involuntarily, whether by operation of law or otherwise), or sublet any of the Leased Premises to any Person at any time that an Event of Default exists. (ii) Tenant shall have the right upon not less than thirty (30) days prior written notice to, but without the consent of, Landlord to assign its interest in this Lease to a Credit Entity. As used in this Paragraph 21, a "Credit Entity" shall mean any Person that immediately following such assignment or subletting and having given effect thereto will have a publicly traded unsecured senior debt rating of "Baa2" or better from Xxxxx'x or a rating of "BBB" or better from S&P (or, if such Person does not then have rated debt, a determination that by either of such rating agencies its unsecured senior debt would be so rated by such agency) and will not be on "Negative Credit Watch", and in the event both such rating agencies cease to furnish such ratings, then a comparable rating by any rating agency acceptable to Landlord and Lender.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) (i) Tenant shall have the right, upon thirty (30) days prior written notice to Landlord and Lender, with no consent of Landlord or Lender being required or necessary ("PREAPPROVED ASSIGNMENT") to assign this Lease by operation of law or otherwise to any Person ("PREAPPROVED ASSIGNEE") (A) that is, and at all times during the Term continues to be, a wholly-owned subsidiary of Tenant or (B) that immediately following such assignment will have a publicly traded unsecured senior debt rating of "Baa2" or better from Xxxxx'x Investors Services, Inc. or a rating of "BBB" or better from S & P, and in the event all of such rating agencies cease to furnish such ratings, then a comparable rating by any rating agency reasonably acceptable to Landlord and Lender. or (c) that complies with the requirements of Paragraph 33(d) of this Lease.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as otherwise expressly provided to the contrary in this Xxxxxxxxx 00, Xxxxxx may not assign this Lease, voluntarily or involuntarily, whether by operation of law or otherwise (including through merger or consolidation) to any Person except to a Person which is a Credit Entity and except that BPC shall be permitted to merge into Holdings (any such assignment, a “Preapproved Assignment”) without the prior written consent of Landlord, which consent shall be granted or withheld by Landlord in accordance with the provisions of Paragraph 21(b) below and subject, in each case, to the provisions of Paragraph 21(i) below. In addition, notwithstanding anything to the contrary contained in this Paragraph 21, Tenant shall not have the right to assign this Lease (voluntarily or involuntarily, whether by operation of law or otherwise), or sublet any of the Leased Premises to any Person at any time that an Event of Default shall exist. As used in this Paragraph 21, a “Credit Entity” shall mean (i) any Person that immediately following such assignment or subletting and having given effect thereto will have an Investment Grade Rating and (ii) any Person that is and continues for the balance of the Term to be a member of the Tenant Group.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) (i) Tenant shall have the right, upon thirty (30) days prior written notice to Landlord and Lender (which notice shall include, if applicable, the financial information required under the following clause (C) in form and substance satisfactory to Landlord and Lender) and provided an Event of Default does not then exist, with no consent of Landlord or Lender being required or necessary ("Preapproved Assignment") to assign this Lease by operation of law or otherwise to any Person ("Preapproved Assignee") (A) that is a wholly-owned subsidiary or an Affiliate of Tenant, or (B) that immediately following such assignment will have a publicly traded unsecured senior debt rating of "A" or better from Moodx'x Xxxestors Services, Inc. ("Moody's") or a rating of "A" or better from Standard & Poor's Corporation ("S&P"), and in the event all of such rating agencies cease to furnish such ratings, then a comparable rating ("Comparable Rating") by any rating agency reasonably acceptable to Landlord and Lender or (C) if the transaction that gives rise to the assignment of this Lease is a sale of all or substantially all of the assets of Tenant, that immediately following such assignment and after giving effect thereto (1) will have a publicly traded unsecured senior debt rating of "Baa" or better from Moody's or a rating of "BBB-" from S&P or a Comparable Rating or (2) will have on a proforma basis a Net Worth of not less than the Net Worth of Tenant immediately prior to the assignment and will have a Fixed Charge Coverage Ratio of not less than 1.75 to 1 measured by the proforma trailing four quarters of the Preapproved Assignee after giving effect to the assignment. For the purpose of this Paragraph 21(a)(i) the following terms shall have the following meanings unless otherwise defined herein.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as expressly set forth below, Tenant may not assign this Lease, voluntarily or involuntarily, whether by operation of law or otherwise or sublet any of the Leased Premises at any time to any other Person without the prior written consent of Landlord, which consent, in the event of an assignment, may be withheld by Landlord for any reason and any such purported sublease or assignment shall be null and void. (i) Notwithstanding the foregoing, Tenant shall have the right to assign its rights under this Lease or to sublease the Leased Premises to (i) any Person which is and continues to be for the balance of the Term controlling, controlled by or under common control with Tenant or (ii) any Person acquiring all or substantially all of Tenant's assets provided that immediately after said acquisition and having given effect thereto, Tenant meets the Level 1

Assignment and Subletting; Prohibition against Leasehold Financing. (i) Tenant shall have the right, upon thirty (30) days prior written notice to Landlord and Lender, with no consent of Landlord or Lender being required or necessary ("Preapproved Assignment") to assign this Lease, by operation of law or otherwise, to any Person ("Preapproved Assignee") (A) that is a wholly-owned United States subsidiary of Tenant on the date of the assignment (except that an assignment to Vantis Corp. shall not be permitted) or (B) that immediately following such assignment will have a publicly traded unsecured senior debt rating of "Baa3" or better from Moodx'x xx a rating of "BBB-" or better from S&P, provided that the rating from the other agency (i.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) (i) Tenant shall have the right, upon thirty (30) days prior written notice to Landlord and Lender, with no consent of Landlord or Lender being required or necessary "PREAPPROVED ASSIGNMENT") to assign this Lease to any Person that, immediately following such assignment has a publicly traded unsecured senior debt rating of "BBB" or better from Moody's Investors Services, Inc. or a rating of "Baa" or xxxxxx from Standard & Poor's Corporation, and in the event all of such rating agencies cease to furnish such ratings, then a comparable rating by any rating agency reasonably acceptable to Landlord and Lender.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Tenant shall not have the right to assign this Lease or sublet any portion of the Leased Premises except as otherwise expressly set forth in this Paragraph 21. (b) Tenant shall have the right upon thirty (30) days prior written notice to Landlord and Lender, with no consent of Landlord or Lender being required, to assign this Lease provided that as a condition to any such assignment to any Person that is not a Preapproved Assignee (as defined below) Tenant shall provide to Landlord the Assignment Security Deposit no later than the date on which such assignment shall become effective.

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as otherwise expressly provided to the contrary in this Paragraph 21, Tenant may not (i) assign this Lease, voluntarily or involuntarily, whether by operation of law or otherwise (including through merger or consolidation) to any Person other than to a Person which is and continues throughout the Term to be an Affiliate of Tenant or a Credit Entity, or (ii) sublet any of the Leased Premises at any time to any other Person other than to an Affiliate of Tenant or to a Credit Entity, without the prior written consent of Landlord, which consent may be granted or withheld by Landlord in accordance with the provisions of