Common use of Assignment or Sub Clause in Contracts

Assignment or Sub. LETTING Lessee shall not mortgage, sell, assign or transfer this lease, or any interest herein, or allow the same to be done by operation of law or otherwise, or sublet the Demised Premises or any part thereof, except to a wholly-owned subsidiary or affiliate, or use or permit the Demised Premises to be used for any purpose other than a Permitted Use set forth in Section 1 hereof without the prior written consent of Lessor, which consent shall not be unreasonably withheld. In the event Lessee desires to assign this lease or sub-let the Demised Premises, Lessee shall provide Lessor with not less than sixty (60) days written notice of Lessee's request, specifying in detail any and all terms of such assignment or sub-lease and providing all information regarding same as may be requested by Lessor. In the event Lessor gives such consent, Lessee shall remain primarily liable for the payment of all rents and other payments and for the performance of all of the other terms and covenants contained in this lease on its part to be performed. In addition, in the event Lessor consents to an assignment or sub-lease of the Demised Premises, which assignment or sub-lease results in rental payments in excess of the monthly payments due and owing under the terms of this lease, such excess rental payments shall belong equally to Lessor and Lessee.

Appears in 1 contract

Samples: Lease Agreement (Kendle International Inc)

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