Common use of Assignment, Mortgage or Sublease Clause in Contracts

Assignment, Mortgage or Sublease. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge, or encumber this Lease Agreement or sublet the demised premises in whole or in part, or permit the demised premises to be used or occupied by others, nor shall this Lease Agreement be assigned or transferred by operation of law, without the prior, express, and written consent in writing of Lessor in each instance which consent shall not be unreasonably withheld. If this Lease is assigned or transferred, or all or any part of the demised premises is sublet or occupied by anybody other than 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 in this Lease Agreement. However, any such assignment, subletting, occupancy, or collection shall not be deemed a waiver or any agreement or condition of this Lease Agreement in accordance with its terms and conditions and shall not be released from the performance of the terms and conditions of this Lease Agreement. 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. 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)

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Assignment, Mortgage or Sublease. 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 demised premises Premises to be used or occupied by othersothers (except pursuant to a sublease as provided in Section Twenty-Eight (B)), nor shall this Lease Agreement be assigned or transferred by operation of law, without the prior, express, and written prior consent in writing of Lessor in each instance which consent shall not be unreasonably withheldinstance. If this Lease is assigned or transferred, or if all or any part of the demised premises Premises is sublet or occupied by anybody other than LesseeLessee (except pursuant to a sublease as provided in Section Twenty-Eight (B)), 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 in this Lease Agreement. Howeverherein, any but no such assignment, subletting, occupancy, occupancy or collection shall not be deemed a waiver or 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 Agreement in accordance with its terms and conditions and shall not be released from the performance of the terms and conditions of this Lease Agreementhereof. 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: Assignment and Assumption of Lease (Laidlaw Energy Group, Inc.), Assignment and Assumption of Lease (Laidlaw Energy Group, Inc.)

Assignment, Mortgage or Sublease. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge, pledge or encumber this Lease Agreement lease or sublet the demised premises in whole or in part, or permit the demised premises to be used or occupied by others, nor shall this Lease Agreement lease be assigned or transferred by operation of law, law without the prior, express, and written prior consent in writing of Lessor in each instance which instance. Such consent shall not be unreasonably withheldwithheld by the Lessor. If this Lease lease is assigned or transferred, or if all or any part of the demised premises is sublet or occupied by anybody other than 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 in this Lease Agreement. Howeverherein, any but no such assignment, subletting, occupancy, or collection shall not be deemed a waiver or of any agreement or condition hereof, or the acceptance of this Lease Agreement the assignee, transferee, subtenant, or occupant as Lessee. Lessee shall continue to be liable hereunder in accordance with its the terms and conditions of this lease and shall not be released from the performance of the terms and conditions of this Lease Agreementhereof. 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. 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 1 contract

Samples: Lease Agreement (Hooker Furniture Corp)

Assignment, Mortgage or Sublease. Neither Lessee nor its his successors --------------------------------- or assigns shall assign, mortgage, pledge, or encumber this Lease Agreement lease or sublet the demised premises in whole or in part, or permit the demised premises to be used or occupied by others, nor shall this Lease Agreement lease be assigned or transferred by operation of law, without the prior, express, and written prior consent in writing of Lessor in each instance which consent shall not be unreasonably withheldinstance. If this Lease lease is assigned or transferred, or if all or any part of the demised premises is sublet or occupied by anybody other than 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 in this Lease Agreement. Howeverherein, any but no such assignment, subletting, occupancy, or collection shall not be deemed a waiver or of any agreement or condition hereof, or the acceptance of this Lease Agreement the assignee, transferee, subtenant, or occupant as Lessee. Lessee shall continue to be liable hereunder in accordance with its the terms and conditions of this lease and shall not be released from the performance of the terms and conditions of this Lease Agreementhereof. 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. 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 1 contract

Samples: Lease (Verdant Brands Inc)

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Assignment, Mortgage or Sublease. Neither Lessee nor its successors or assigns shall assign, mortgage, pledge, or encumber this Lease Agreement lease agreement or sublet the demised premises in whole or in part, or permit the demised premises to be used or occupied by others, nor shall this Lease Agreement lease agreement be assigned or transferred by operation of law, without the prior, express, and written consent in writing of Lessor in each instance which consent shall not be unreasonably withheldinstance. If this Lease lease is assigned or transferred, or if all or any part of the demised premises is sublet or occupied by anybody other than 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 in this Lease Agreementlease agreement. However, any such assignment, subletting, occupancy, or collection shall not be deemed a waiver or of any agreement or condition of this Lease Agreement lease agreement, or the acceptance of the assignee, transferee, subtenant or occupant as Lessee. Lessee shall continue to be liable under this lease agreement in accordance with its hits terms and conditions and shall not be released from the performance of the terms and conditions of this Lease Agreementlease agreement. 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. Notwithstanding anything to Lessor shall execute a consent for 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 portion of the Lesseepremises being presently leased to Goodyear. Consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: Lease Agreement (Greenman Technologies Inc)

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