Common use of Assignment, Mortgage or Sublease Clause in Contracts

Assignment, Mortgage or Sublease. A. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge or encumber this Lease in whole or in part, or permit the Premises to be used or occupied by others (except pursuant to a sublease as provided in Section Twenty-Eight (B)), nor shall this Lease be assigned or transferred by operation of law, without the prior consent in writing of Lessor in each instance. If this Lease is assigned or transferred, or if all or any part of the Premises is occupied by anybody other than Lessee (except pursuant to a sublease as provided in Section Twenty-Eight (B)), Lessor may, after default by Lessee, collect rent from the assignee, transferee, or occupant, and apply the net amount collected to the rent reserved herein, but no such assignment, occupancy or collection shall be deemed a waiver of any agreement or condition hereof, or the acceptance of the assignee, transferee, or occupant as Lessee. Lessee shall continue to be liable hereunder in accordance with the terms and conditions of this Lease and shall not be released from the performance of the terms and conditions hereof. The consent by Lessor to an assignment, mortgage, pledge or transfer shall not be construed to relieve Lessee from obtaining the express written consent of Lessor to any future transfer of interest.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease (Laidlaw Energy Group, Inc.), Assignment and Assumption of Lease (Laidlaw Energy Group, Inc.)

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Assignment, Mortgage or Sublease. A. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge pledge, or encumber this Lease Agreement or sublet the demised premises in whole or in part, or permit the Premises demised premises to be used or occupied by others (except pursuant to a sublease as provided in Section Twenty-Eight (B))others, nor shall this Lease Agreement be assigned or transferred by operation of law, without the prior prior, express, and written consent in writing of Lessor in each instanceinstance which consent shall not be unreasonably withheld. If this Lease is assigned or transferred, or if all or any part of the Premises demised premises is sublet or occupied by anybody other than Lessee (except pursuant to a sublease as provided in Section Twenty-Eight (B))Lessee, Lessor may, after default by Lessee, collect rent from the assignee, transferee, subtenant, or occupant, and apply the net amount collected to the rent reserved hereinin this Lease Agreement. However, but no any such assignment, occupancy subletting, occupancy, or collection shall not be deemed a waiver of or any agreement or condition hereof, or the acceptance of the assignee, transferee, or occupant as Lessee. Lessee shall continue to be liable hereunder this Lease Agreement in accordance with the its terms and conditions of this Lease and shall not be released from the performance of the terms and conditions hereofof this Lease Agreement. The consent by Lessor to an assignment, mortgage, pledge pledge, or transfer shall not be construed to relieve Lessee from obtaining the express written consent of Lessor to any future transfer of interest. Notwithstanding anything to the contrary contained herein, Lessee shall have the right to assign this Lease to an entity which is owned by or under the common ownership of Lessee or, to a parent, subsidiary or affiliate of the Lessee.

Appears in 2 contracts

Samples: Lease Agreement (TRX Inc/Ga), Lease Agreement (TRX Inc/Ga)

Assignment, Mortgage or Sublease. A. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge pledge, or encumber this Lease lease agreement or sublet the demised premises in whole or in part, or permit the Premises demised premises to be used or occupied by others (except pursuant to a sublease as provided in Section Twenty-Eight (B))others, nor shall this Lease lease agreement be assigned or transferred by operation of law, without the prior prior, express, and written consent in writing of Lessor in each instance. If this Lease lease is assigned or transferred, or if all or any part of the Premises demised premises is sublet or occupied by anybody other than Lessee (except pursuant to a sublease as provided in Section Twenty-Eight (B))Lessee, Lessor may, after default by Lessee, collect rent from the assignee, transferee, subtenant, or occupant, and apply the net amount collected to the rent reserved hereinin this lease agreement. However, but no any such assignment, occupancy subletting, occupancy, or collection shall not be deemed a waiver of any agreement or condition hereofof this lease agreement, or the acceptance of the assignee, transferee, subtenant or occupant as Lessee. Lessee shall continue to be liable hereunder under this lease agreement in accordance with the hits terms and conditions of this Lease and shall not be released from the performance of the terms and conditions hereofof this lease agreement. The consent by Lessor to an assignment, mortgage, pledge pledge, or transfer shall not be construed to relieve Lessee from obtaining the express written consent of Lessor to any future transfer of interest. Lessor shall execute a consent for the portion of the premises being presently leased to Goodyear. Consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: Lease Agreement (Greenman Technologies Inc)

Assignment, Mortgage or Sublease. A. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge or encumber this Lease lease or sublet the demised premises in whole or in part, or permit the Premises premises to be used or occupied by others (except pursuant to a sublease as provided in Section Twenty-Eight (B))others, nor shall this Lease lease be assigned or transferred by operation of law, law without the prior consent in writing of Lessor in each instance. Such consent shall not be unreasonably withheld by the Lessor. If this Lease lease is assigned or transferred, or if all or any part of the Premises demised premises is sublet or occupied by anybody other than Lessee (except pursuant to a sublease as provided in Section Twenty-Eight (B))Lessee, Lessor may, after default by Lessee, collect rent from the assignee, transferee, subtenant, or occupant, and apply the net amount collected to the rent reserved herein, but no such assignment, occupancy subletting, occupancy, or collection shall be deemed a waiver of any agreement or condition hereof, or the acceptance of the assignee, transferee, subtenant, or occupant as Lessee. Lessee shall continue to be liable hereunder in accordance with the terms and conditions of this Lease lease and shall not be released from the performance of the terms and conditions hereof. The consent by Lessor to an assignment, mortgage, pledge pledge, or transfer shall not be construed to relieve Lessee from obtaining the express written consent of Lessor to any future transfer of interest.

Appears in 1 contract

Samples: Hooker Furniture Corp

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Assignment, Mortgage or Sublease. A. Neither Lessee nor its his successors --------------------------------- or assigns shall assign, mortgage, pledge pledge, or encumber this Lease lease or sublet the demised premises in whole or in part, or permit the Premises premises to be used or occupied by others (except pursuant to a sublease as provided in Section Twenty-Eight (B))others, nor shall this Lease lease be assigned or transferred by operation of law, without the prior consent in writing of Lessor in each instance. If this Lease lease is assigned or transferred, or if all or any part of the Premises demised premises is sublet or occupied by anybody other than Lessee (except pursuant to a sublease as provided in Section Twenty-Eight (B))Lessee, Lessor may, after default by Lessee, collect rent from the assignee, transferee, subtenant, or occupant, and apply the net amount collected to the rent reserved herein, but no such assignment, occupancy subletting, occupancy, or collection shall be deemed a waiver of any agreement or condition hereof, or the acceptance of the assignee, transferee, subtenant, or occupant as Lessee. Lessee shall continue to be liable hereunder in accordance with the terms and conditions of this Lease lease and shall not be released from the performance of the terms and conditions hereof. The consent by Lessor to an assignment, mortgage, pledge pledge, or transfer shall not be construed to relieve Lessee from obtaining the express written consent of Lessor to any future transfer of interest.

Appears in 1 contract

Samples: Verdant Brands Inc

Assignment, Mortgage or Sublease. A. Neither Lessee Lessee, nor its Xxxxxx's legal representatives, successors or assigns assigns, shall assigndirectly or indirectly, mortgage, pledge voluntarily or encumber this Lease in whole or in part, or permit the Premises to be used or occupied by others (except pursuant to a sublease as provided in Section Twenty-Eight (B)), nor shall this Lease be assigned or transferred by operation of law, assign, transfer, hypothecate, mortgage or encumber this Property. Any such act shall be considered a material breach of this Agreement by the Lessee. The Lessee shall not be entitled to sub-lease all the rights vested with the Lessee to any third party. Any changes in the composition with regard to sale or transfer of shareholding in the Company other than to members of the JV, or in case of any change affecting the respective rights and obligations or the voting powers of the members of the consortium other than through the members of the JV, the Lessee shall require an advance written consent of the Lessor, whose consent may be withheld in Lessor's sole and absolute discretion and be subject to such conditions as Lessor shall deem appropriate. Any such change without the prior Lessor’s consent in writing shall be treated as a material breach of Lessor in each instancea term of this Lease. If Lessee shall not voluntarily or by operation of law, (1) mortgage, pledge, hypothecate or encumber this Lease is assigned or transferredany interest herein, (2) assign or if all transfer this Lease or any interest herein, sub-lease the Property or any part thereof, or any right or privilege appurtenant thereto, or allow any other person (the employees and invitees of Lessee accepted) to occupy or use the Property, or any portion thereof, without first obtaining the written consent of Xxxxxx, whose consent shall not be unreasonably withheld. Without limiting the other transaction(s) that may constitute or result in an assignment of this Lease, each of the Premises is occupied by anybody other than Lessee (except pursuant to a sublease as provided in Section Twenty-Eight (B)), Lessor may, after default by Lessee, collect rent from the assignee, transferee, or occupant, and apply the net amount collected to the rent reserved herein, but no such assignment, occupancy or collection following shall be deemed a waiver of any agreement or condition hereof, or the acceptance of the assignee, transferee, or occupant as Lessee. Lessee shall continue to be liable hereunder in accordance with the terms and conditions of an assignment under this Lease and shall not be released from the performance of the terms and conditions hereof. The consent by Lessor to an assignment, mortgage, pledge or transfer shall not be construed to relieve Lessee from obtaining the express written consent of Lessor to any future transfer of interest.Lease:

Appears in 1 contract

Samples: Draft Lease Agreement

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