Common use of Assignment and Subletting; Prohibition against Leasehold Financing Clause in Contracts

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.

Appears in 1 contract

Samples: Lease Agreement (Finisar Corp)

AutoNDA by SimpleDocs

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as otherwise expressly provided to the contrary in this Paragraph 21Xxxxxxxxx 00, Tenant Xxxxxx may not assign this Lease, voluntarily or involxxxxxxxxinvoluntarily, xxxxxxx xx whether by 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 which is and continues for the balance of throughout the Term to be a single purpose, bankruptcy remote, direct or indirect wholly-owned subsidiary of Tenant (and Guarantor or is a "Tenant Subsidiary")Credit Entity, 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(i21(j) and 21(j21(k) 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(i21(j) or 21(j21(k) 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.. As used herein, the term “

Appears in 1 contract

Samples: Lease Agreement (New York Times Co)

Assignment and Subletting; Prohibition against Leasehold Financing. (a) (i) Except as otherwise expressly provided to the contrary in this Paragraph 21, Tenant may not assign 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 involxxxxxxxxinvoluntarily, xxxxxxx xx whether by 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 (each of the Term foregoing hereinafter referred to be a wholly-owned subsidiary of Tenant (as a "Tenant SubsidiaryTransfer"), ) without the prior written consent of Landlord, which consent may be granted or withheld by Landlord in accordance with the provisions of Paragraphs 21(b21(a)(ii) and (iii) below, as applicable, and subject, in each case, to the provisions of Paragraphs 21(i) and 21(jParagraph 21(h) 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.

Appears in 1 contract

Samples: Lease Agreement (World Airways Inc /De/)

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 involxxxxxxxxinvoluxxxxxxx, 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 which is and continues for the balance of throughout the Term to be a single purpose, bankruptcy remote, direct or indirect wholly-owned subsidiary of Tenant (and Guarantor or is a "Tenant Subsidiary")Credit Entity, 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(i21(j) and 21(j21(k) 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(i21(j) or 21(j21(k) 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.. As used herein, the term "

Appears in 1 contract

Samples: Lease Agreement (Corporate Property Associates 17 - Global INC)

AutoNDA by SimpleDocs

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except as otherwise expressly provided to the contrary in this Paragraph 21Xxxxxxxxx 00, Tenant Xxxxxx may not assign this Lease, voluntarily or involxxxxxxxxinvoluntarily, xxxxxxx xx whether by operation of law or otherwise (including through merger or consolidation) to any Person, other than Person except to a Person that which is a Credit Entity or and except that BPC shall be permitted to merge into Holdings (any Person that is and continues for the balance of the Term to be such assignment, a wholly-owned subsidiary of Tenant (a "Tenant Subsidiary"), “Preapproved Assignment”) without the prior written consent of Landlord, which consent may shall be granted or withheld by Landlord in accordance with the provisions of Paragraphs Paragraph 21(b) below, as applicable, below and subject, in each case, to the provisions of Paragraphs Paragraph 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.shall exist. As used in this Paragraph 21, a “

Appears in 1 contract

Samples: Lease Agreement (Corporate Property Associates 17 - Global INC)

Assignment and Subletting; Prohibition against Leasehold Financing. (a) Except a)Except as otherwise expressly provided to the contrary in this Paragraph 21Xxxxxxxxx 00, Tenant Xxxxxx may not assign this Lease, voluntarily or involxxxxxxxxinvoluntarily, xxxxxxx xx whether by operation of law or otherwise (including through merger or consolidation) to any Person, Person other than to a Person that is a Credit Entity or any Person that [which is and continues for the balance of throughout the Term to be a wholly-owned subsidiary of Tenant (or a "Tenant Subsidiary"), Credit Entity] 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.. [

Appears in 1 contract

Samples: Lease Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.