Common use of Assignment of Purchase Option Clause in Contracts

Assignment of Purchase Option. The Purchase Option and Tenant’ rights and obligations under this Article 30 are personal to Tenant, may not be exercised by any assignee or transferee of Tenant and shall irrevocably terminate upon any Transfer of this Lease. Notwithstanding the foregoing, Tenant shall have the right to assign this Lease without Landlord’s prior written consent to a Permitted Assignee in accordance with Section 25.1, and in such event the Purchase Option shall not terminate and may be exercised by such Permitted Assignee, but only if (a) Tenant notifies Landlord in writing prior to the effectiveness of such assignment to such Permitted Assignee, and (b) prior to or concurrently with such assignment, such Permitted Assignee assumes all of Tenant’s obligations under this Article 30. Notwithstanding the foregoing, in no event shall Landlord’s consent to a Transfer under Article 25 (to the extent such consent is required) be deemed to include the Purchase Option or the provisions of this Article 30 unless explicitly agreed to in writing by Landlord.