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

ASSIGNMENT, MORTGAGING, SUBLETTING, ETC. 10.1 Tenant shall not by operation of law or otherwise (a) assign or otherwise transfer this Lease or the term and estate hereby granted, (b) sublet the 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 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, without, in each instance, obtaining the prior written consent of Landlord, except as otherwise expressly provided in this Article 10. For purposes of this Article 10, the transfer of a majority of the issued and outstanding capital stock of any corporate tenant shall not be deemed an assignment of this Lease. Except as otherwise provided in this Article 10, an agreement by (i) any other person or entity, directly or indirectly, to assume Tenant's obligations under this Lease shall be deemed an assignment, (ii) any person or legal representative of Tenant, to whom Tenant's interest under this Lease passes by operation of law, or otherwise, and (iii) a modification, amendment or extension of a sublease shall be deemed a sublease. Tenant agrees to furnish to Landlord upon demand at any time such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section 10.1.

Appears in 1 contract

Samples: Mainspring Communications Inc

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ASSIGNMENT, MORTGAGING, SUBLETTING, ETC. 10.1 11.(a) Except as otherwise provided for herein, Tenant shall not by operation of law or otherwise (a) assign or otherwise transfer this Lease or the term Term and estate hereby granted, (b) sublet the 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 Premises or any part thereof in any manner by reason of any act or omission on the part of Tenant, Tenant or (d) advertise, or authorize a broker to advertise, for a subtenant or an assignee, without, in each instance, obtaining the prior written consent price for any portion of Landlord, except as otherwise expressly provided in this Article 10the Premises. For purposes of this Article 1011, (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 tenant or subtenant, or the transfer of control in any limited partnership tenant or subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, shall not be deemed an assignment of this Lease. Except , or of such sublease, as otherwise provided in this Article 10the case may be, (ii) an agreement by (i) any other person or entity, directly or indirectly, to assume Tenant's obligations under this Lease shall be deemed an assignment, (iiiii) any person or legal representative of Tenant, to whom Tenant's interest under this Lease passes by operation of law, or otherwise, shall be bound by the provisions of this Article 11, and (iiiiv) a modification, amendment or extension of a sublease shall be deemed a sublease. Tenant agrees to furnish to Landlord upon demand at any time such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section 10.1.

Appears in 1 contract

Samples: Agreement of Lease (Gt Interactive Software Corp)

ASSIGNMENT, MORTGAGING, SUBLETTING, ETC. 10.1 11.1. Tenant shall not by operation of law or otherwise (a) assign or otherwise transfer this Lease or the term Term and estate hereby granted, (b) sublet the 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 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, without, in each instance, obtaining the prior written consent of Landlord, except as otherwise expressly provided in this Article 1011, which consent shall not be unreasonably withheld or delayed. For purposes of this Article 1011, (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 tenant or subtenant, or the transfer of control in any limited partnership tenant or subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, shall not be deemed an assignment of this Lease. Except , or of such sublease, as otherwise provided the case may be, except that the transfer of the outstanding capital stock of any corporate tenant, or subtenant, shall be deemed not to include the sale of such stock by persons or parties, other than those deemed "affiliates" of Tenant within the meaning of Rule 144 promulgated under the Securities Act of 1933, as amended, through the "over-the-counter market" or through any recognized stock exchange (including, without limitation the NASDAQ exchange), (ii) any increase in the amount of issued and/or outstanding capital stock of any corporate tenant, or of a corporate subtenant, and/or the creation of one or more additional classes of capital stock of any corporate tenant or any corporate subtenant, in a single transaction or a series of related or unrelated transactions, resulting in a change in the legal or beneficial ownership of such tenant or subtenant so that the shareholders of such tenant or subtenant existing immediately prior to such transaction or series of transactions shall no longer own a majority of the issued and outstanding capital stock of such tenant or subtenant, shall be deemed an assignment of this Article 10Lease, (iii) an agreement by (i) any other person or entity, directly or indirectly, to assume Tenant's obligations under this Lease shall be deemed an assignment, (iiiv) any person or legal representative of Tenant, to whom Tenant's interest under this Lease passes by operation of law, or otherwise, shall be bound by the provisions of this Article 11, and (iiiv) a modification, amendment or extension of a sublease shall be deemed a sublease. Tenant agrees to furnish to Landlord upon demand at any time such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section 10.111.1.

Appears in 1 contract

Samples: Micros to Mainframes Inc

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ASSIGNMENT, MORTGAGING, SUBLETTING, ETC. 10.1 11.01. Tenant shall not by operation of law or otherwise (a) assign or otherwise transfer this Lease or the term and estate hereby granted, (b) sublet the Premises demised premises or any part thereof or allow the same to be used or occupied by othersothers or in violation of Article 5, (c) mortgage, pledge or encumber this Lease or the Premises 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, without, in each instance, obtaining the prior written consent of Landlord, except as otherwise expressly provided in this Article 1011. For purposes of this Article 1011, (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 tenant or subtenant, however accomplished, whether in a single transaction or in a series of related or unrelated transactions, shall not be deemed an assignment of this Lease. Except , or of such sublease, as otherwise provided in this Article 10the case may be, an agreement by (i) except that the transfer of the outstanding capital stock of any other person corporate tenant, or entitysubtenant, directly or indirectly, to assume Tenant's obligations under this Lease shall be deemed not to include the sale of such stock by persons or parties, through the "over-the-counter market" or through any recognized stock exchange, or in connection with an assignmentinitial public offering conducted in accordance with the provisions of the Securities and Exchange Act of 1933 other than those deemed "insiders" within the meaning of the Securities Exchange Act of 1934 as amended, (ii) any person or legal representative of Tenant, to whom Tenant's interest under this Lease passes by operation of law, or otherwise, shall be bound by the provisions of this Article 11, and (iii) a modification, amendment or extension of a sublease shall be deemed a sublease. Tenant agrees to furnish to Landlord upon demand at any time such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section 10.1.

Appears in 1 contract

Samples: 24/7 Media Inc

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