Common use of Assignment Subletting by Tenant Clause in Contracts

Assignment Subletting by Tenant. Tenant shall not transfer, pledge, mortgage, encumber, or assign (whether by instrument, operation of law, withdrawal or change in partnership, merger, consolidation, dissolution or reorganization of any type) this Lease, or any interest of Tenant under this Lease, without the prior written consent of Landlord. Tenant shall not sublet the Premises or any part of the Premises, nor permit any party other than Tenant to use or occupy any part of the Premises, without the prior written consent of Landlord. Landlord may in its sole discretion withhold or refuse to give its consent to any proposed transfer, assignment or subletting and to any proposed use or occupancy by any party other than Tenant. Landlord’s consent to one assignment, transfer or sublease, or to any use or occupancy by a party other than Tenant, shall not destroy or waive this provision, and each later assignment, transfer and sublease, and each later use or occupancy of the Premises by a party other than Tenant, shall likewise be made only with the prior written consent of Landlord. Any subtenants, transferees or assignees shall automatically, upon acceptance of such subtenancy, transfer or assignment, become and thereafter be directly liable to Landlord for all obligations of Tenant under this Lease (including but not limited to Basic Rent and all Additional Rent) without relieving Tenant (or any guarantor of Tenant’s obligations) of liability to Landlord under this Lease.

Assignment Subletting by Tenant. Tenant shall not transfer, pledge, mortgage, encumber, or assign (whether by instrument:, operation of law, withdrawal or change in partnership, merger, consolidation, dissolution or reorganization of any type) this Lease, or any interest of Tenant under this Lease, without the prior written consent of Landlord. Tenant shall not sublet the Premises or any part of the Premises, nor permit any party other than Tenant to use or occupy any part of the Premises, without the prior written consent of Landlord. Landlord may in its sole discretion withhold or refuse to give its consent to any proposed transfer, assignment or subletting and to any proposed use or occupancy by any party other than Tenant. Landlord’s consent to one assignment, transfer or sublease, or to any use or occupancy by a party other than Tenant, shall not destroy or waive this provision, and each later assignment, transfer and sublease, and each later use or occupancy of the Premises by a party other than Tenant, shall likewise be made only with the prior written consent of Landlord. Any subtenants, transferees or assignees shall automatically, upon acceptance of such subtenancy, transfer or assignment, become and thereafter be directly liable to Landlord for all obligations of Tenant under this Lease (including but not limited to Basic Rent and all Additional Rent) without relieving Tenant (or any guarantor of Tenant’s obligations) of liability to Landlord under this Lease.

Assignment Subletting by Tenant. Section 16.1. Other than as specifically provided for in this Section 16.1, or permitted sublease to Riviera Plastics Products Company, Tenant shall not transfer, pledge, mortgage, encumber, or assign (whether by instrument, operation of law, withdrawal or change in partnership, merger, consolidation, dissolution or reorganization of any type) this Lease, Lease or any interest of Tenant under this Lease, hereunder without the prior written consent of Landlord. Tenant shall not sublet or permit the use or occupancy of the Premises or any part of the Premises, nor permit any party thereof by anyone other than Tenant to use or occupy any part of the Premises, without the prior written consent of Landlord. Landlord may in its sole discretion withhold or refuse to give its consent to any proposed transfer, No assignment or subletting shall relieve Tenant of its obligations hereunder, and Tenant shall continue to be liable as a principal and not as a guarantor or surety, to the same extent as though no assignment or sublease had been made, unless specifically provided to the contrary in Landlord's consent. Notwithstanding the above Tenant may assign all its right title and interest under this Lease to an affiliate of Tenant, provided: (i) such affiliate is owned and controlled by Kennxxx X. Xxxxx; (xi) said affiliate enters into a written assumption agreement with Landlord agreeing to assume all of Tenant's obligations and to be bound by all of the terms and provisions of this Lease; (iii) no default exists under the Lease; (iv) Landlord shall receive at least thirty (30) days prior written notice of said assignment. The notice shall include a certification signed by Tenant and the affiliate as to the above items and a certified copy of the affiliate's financial statement and the effective date of the assignment; (v) Tenant shall remain fully liable for all terms of the Lease and it shall not be necessary for Landlord to exhaust its remedies against such affiliate before calling upon Tenant for the payment or performance of any proposed use obligation under the Lease; and (vi) the affiliate's financial condition is satisfactory in Landlord's reasonable opinion. Consent by Landlord pursuant to this Article shall not be deemed, construed or occupancy by any party other than Tenant. Landlord’s consent held to one assignment, transfer or sublease, or be consented to any use additional assignment or occupancy by a party other than subletting including but not limited to any subsequent assignments between affiliates of the Tenant, but each successive act shall require similar consent of the Landlord. Landlord shall be reimbursed by Tenant for any costs or expense incurred pursuant to any request by Tenant for approval to any such assignment or subletting. Notwithstanding the foregoing, the death of Kennxxx X. Xxxxx xxxll not constitute a default hereunder. Section 16.2. Subject to any exception set forth in Article 16, During the Term, Tenant shall not destroy or waive this provision, and each later assignment, transfer and sublease, and each later use or occupancy of the Premises by be permitted to effect a party other than Tenant, shall likewise be made only with "change in control" (as hereinafter defined) without the prior written consent of Landlord. Any subtenantsFor the purposes of this Section 16.2, transferees or assignees shall automatically, upon acceptance of such subtenancy, transfer or assignment, become and thereafter be directly liable to Landlord for all obligations a "change in control" of Tenant under shall be deemed to occur or to be effected, if for any reason, at any time, the beneficial ownership or voting control of more than fifty percent (50) of the issued and outstanding common stock of Tenant is not vested, directly or indirectly, in Kennxxx X. Xxxxx xx Motor Wheel Corporation, an Ohio corporation. Section 16.3. Tenant shall not allow or permit any transfer of this Lease, or any interest hereunder, by operation of law or otherwise, or convey, mortgage, pledge or encumber this Lease (including but not limited to Basic Rent and all Additional Rent) without relieving Tenant (or any guarantor of Tenant’s obligations) of liability to Landlord under this Leaseinterest hereunder.