Common use of ASSIGNMENT, MORTGAGING, SUBLETTING, ETC Clause in Contracts

ASSIGNMENT, MORTGAGING, SUBLETTING, ETC. 11.1 Subject to the provisions of Section 11.2 hereof Tenant shall not (a) assign or otherwise transfer this Lease or any interest herein, or the term and estate hereby granted, (b) sublet the demised premises or any part thereof or allow the same to be used or occupied by others, (c) mortgage, pledge or encumber this Lease or the demised premises or any part thereof in any manner by reason of any act or omission on the part of Tenant, or (d) advertise, or authorize a broker to advertise, for a subtenant or an assignee at a consideration or at rental rates below the rental rates then being advertised by Landlord as its rental rates for comparable space in the Building Project and for a comparable term, without, in each instance, obtaining the prior written consent of Landlord, except as otherwise expressly provided in this Article 11. For purposes of this Article 11, (i) the transfer of a majority of the issued and outstanding capital stock of any corporate tenant, or of a corporate subtenant, or the transfer of a majority of the total interest in any partnership, limited liability company or other entity that is the Tenant or a subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, shall be deemed an assignment of this Lease, or of such sublease, as the case may be, and (ii) a takeover agreement shall be deemed a transfer of this Lease.

ASSIGNMENT, MORTGAGING, SUBLETTING, ETC. 11.1 Subject to the provisions of Section 11.2 hereof Tenant shall not (a) assign or otherwise transfer this Lease or any interest herein, or the term and estate hereby granted, (b) sublet the demised premises or any part thereof or allow the same to be used or occupied by others, (c) mortgage, pledge or encumber this Lease or the demised premises or any part thereof in any manner by reason of any act or omission on the part of Tenant, or (d) advertise, or authorize a broker to advertise, for a subtenant or an assignee at a consideration or at rental rates below the rental rates then being advertised by Landlord as its rental rates for comparable space in the Building Project and for a comparable term, without, in each instance, obtaining the prior written consent of Landlord, except as otherwise expressly provided in this Article 11, which consent shall not be unreasonably withheld by Landlord. For purposes of this Article 11, (i) the transfer of a majority of the issued and outstanding capital stock of any corporate tenant, or of a corporate subtenant, or the transfer of a majority of the total interest in any partnership, limited liability company partnership tenant or other entity that is the Tenant or a subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, shall be deemed an assignment of this Lease, or of such sublease, as the case may be, if the primary purpose thereof is to effectuate a transfer of this Lease, and (ii) a lease takeover agreement shall be deemed a transfer of this Lease.