Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as otherwise expressly provided to the contrary in this Paragraph 21, Tenant may not assign this Lease, voluntarily or involxxxxxxxx, xxxxxxx xx operation of law or otherwise (including through merger or consolidation) to any Person, other than to a Person that is a Credit Entity or any Person that is and continues for the balance of the Term to be a wholly-owned subsidiary of Tenant (a "Tenant Subsidiary"), without the prior written consent of Landlord, which consent may be granted or withheld by Landlord in accordance with the provisions of Paragraphs 21(b) below, as applicable, and subject, in each case, to the provisions of Paragraphs 21(i) and 21(j) below. 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 (A) to any Person that is a Tenant Subsidiary or (B) to a Credit Entity. Any purported sublease or assignment in violation of this Paragraph 21 (including an Affiliate transaction in violation of the provisions of Paragraphs 21(i) or 21(j) below) 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.
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.
Assignment and Subletting; Prohibition against Leasehold Financing. (a)(i) Except as specifically provided in this Paragraph 21 and subject to the terms hereof, Tenant shall not assign this Lease, voluntarily or involuntarily, whether by operation of law or otherwise. 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") (A) to assign this Lease either in its entirety ("Complete Assignment") or (B) to cause Landlord to bifurcate this Lease into two leases ("Lease Bifurcation"), one for each Related Premises (each, a "Bifurcated Lease"), provided that the Basic Rent under each such Bifurcated Lease shall be allocated between each of the Related Premises as provided in Exhibit "F", and to assign this Lease with respect to either Related Premises ("Partial Assignment"), provided that any such Complete Assignment or Partial Assignment is to a Person ("Preapproved Assignee"), that immediately following such assignment has a publicly traded unsecured senior debt rating of "A" or better from Moodx'x Xxxestors Services, Inc. or a rating of "A" or better 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 may not assign this Lease, voluntarily or involuntarily, whether by operation of law or otherwise, or sublet any of the Related 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 or no reason, and any such purported assignment or sublease shall be null and void.
Assignment and Subletting; Prohibition against Leasehold Financing. (a) If Tenant desires to assign or sublease this Lease, whether by operation of law or otherwise, (including through merger, consolidation or sale of the stock of Tenant which shall be deemed an assignment) then Tenant shall, not less than sixty (60) days prior to the date on which it desires to make an assignment or sublease, submit to Landlord information regarding the following with respect to the proposed assignee (collectively, the “Review Criteria”): (A) credit, (B) capital structure, (C) management, (D) operating history, (E) proposed use of the Premises and (F) risk factors associated with the proposed use of the Premises, taking into account factors such as environmental concerns, product liability and the like. Landlord and Lender shall review such information and shall approve or disapprove the assignee no later than the thirtieth (30th) day following receipt of all such information, and Landlord shall be deemed to have acted reasonably in granting or withholding consent if such grant or disapproval is based on their review of the Review Criteria applying prudent business judgment, provided that Landlord will not withhold its consent if the Review Criteria as it applies to the proposed assignee or sublessee is stronger/better than the same criteria applied to Tenant at the greater of both as of the date of this Lease and at the time of the assignment or sublease. If a response is not received by Landlord by the expiration of such thirty (30) day period such assignment or sublease shall be deemed disapproved.
Assignment and Subletting; Prohibition against Leasehold Financing. (a) (i) Except as set forth below in this Paragraph 21, Tenant may not voluntarily, by operation of law or otxxxxxxx xxxxxx xxxx Lease or sublet any of the Leased Premises to any other Person, or permit any other Person to use or occupy any of the Leased Premises, without the prior written consent of Landlord and, to the extent required by the Loan Documents, each Lender. The sale, issuance or transfer of any stock, partnership interest, membership interest or other ownership interest in Tenant or any successor or assignee thereof which results in a change in the direct of indirect control of Tenant or such successor or assignee shall be deemed an assignment of this Lease and be subject to the provisions of this Paragraph 21; provided, however, that no consent of Landlord shall be required in the event that the assignee or transferee shall at the time of assignment or transfer possess a credit rating from Standard & Poor's Corporation (or in the absence of a rating from such company, a rating issued by a comparable rating agency) equal to or greater than that of Tenant at the time of such assignment or transfer.
Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as provided in this Paragraph 21(a) or Paragraph 21(b), Tenant shall not assign Tenant’s interest in this Lease and any purported assignment in violation of this Paragraph 21(a) or Paragraph 21(b) shall be null and void. Tenant may assign all, but not less than all, of Tenant’s interest in this Lease (voluntarily or involuntarily, whether by operation of law or otherwise, including through merger or consolidation) in connection with a Permitted Asset Transfer or a Permitted Change of Control or to any Person that is and continues throughout the Term to be a wholly-owned Subsidiary of Tenant, a Credit Entity or a Qualified Transferee, without the prior written consent of 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 (A) as specifically permitted in Section 1 of Exhibit "G" or (B) to any Person that, immediately following such assignment has a publicly traded unsecured senior debt rating of "BBB" or better from Xxxxx'x Investors Services, Inc. or a rating of "Baa" or better 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) (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) 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, whether by operation of law of otherwise, to any Person ("Preapproved Assignee") 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 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. Upon any assignment to a Preapproved Assignee and compliance by the Preapproved Assignee with the provisions of Paragraph 21(c), the Tenant shall be released from all of its rights obligations and liabilities hereunder except for Surviving Obligations.
