Common use of ASSIGNMENT, SUBLETTING AND OWNERSHIP Clause in Contracts

ASSIGNMENT, SUBLETTING AND OWNERSHIP. A. Tenant shall have the absolute right to sublet, assign or otherwise transfer its interest in this Lease to any parent or operating subsidiary of Tenant, subsidiary of Tenant's parent, or to a corporation with which it may merge or consolidate or to a Company, entity or individual that purchases all or substantially all of the assets or common stock of Tenant either in one transaction or a series of transactions, without Landlord's approval, written or otherwise. In the event of any such subletting, assignment or other transfer, Tenant shall not be released from any liability upon such assignment or sublease with respect to that portion of the Tenant's leasehold estate so assigned or subleased.

ASSIGNMENT, SUBLETTING AND OWNERSHIP. A. Tenant shall have the absolute right to sublet, assign or otherwise transfer its interest in this Lease to any parent parent, affiliate, or operating subsidiary of Tenant, subsidiary of Tenant's parent, or to a corporation with which it may merge or consolidate or to a Company, entity or individual that purchases all or substantially all of the assets or common stock of Tenant either in one transaction or a series of transactions, without Landlord's approval, written or otherwise. In the event of any such subletting, assignment or other transfer, Tenant shall not automatically be released from any all liability upon such assignment or sublease with respect to that portion of the Tenant's leasehold estate so assigned or subleased.