Common use of Assignments to Successor Corporation Clause in Contracts

Assignments to Successor Corporation. Notwithstanding the provisions of the above paragraphs, Tenant may, without Landlord's consent, assign this Lease to any corporation succeeding to substantially all the business and assets of Tenant by merger, consolidation, purchase of assets or to any corporation or entity which is a subsidiary or division of Tenant, provided that the following conditions are satisfied: (a) the total assets and net worth of such assignee shall be equal to or more than that of Tenant immediately prior to such transactions; (b) Tenant is not then in default hereunder; and (c) such successor shall execute and deliver to Landlord an instrument in writing fully assuming all the obligations and liabilities imposed upon Tenant hereunder, together with copies of appropriate financial reports of the successor corporation.

Assignments to Successor Corporation. Notwithstanding the provisions of the above paragraphs, Tenant may, without Landlord's ’s consent, assign this Lease to any corporation succeeding to substantially all the business and assets of Tenant by merger, consolidation, purchase of assets or to any corporation or entity which is a subsidiary or division of Tenant, provided that the following conditions are satisfied: (a) the total assets and net worth of such assignee shall be equal to or more than that of Tenant immediately prior to such transactions; (b) Tenant is not then in default hereunder; and (c) such successor shall execute and deliver to Landlord an instrument in writing fully assuming all the obligations and liabilities imposed upon Tenant hereunder, together with copies of appropriate financial reports of the successor corporation.

Assignments to Successor Corporation. Notwithstanding the provisions of the above paragraphs, Tenant may, without Landlord's ’s consent, assign this Lease to any corporation succeeding to substantially all the business and assets related to that portion of Tenant Tenant’s business which occupies the Premises, by merger, consolidation, purchase of assets or to any corporation or entity which is a subsidiary or division of Tenant, provided that the following conditions are satisfied: (a) the total assets and net worth of such assignee shall be equal to or more than that of Tenant immediately prior to such transactions; (b) Tenant is not then in default hereunder; and (c) such successor shall execute and deliver to Landlord an instrument in writing fully assuming all the obligations and liabilities imposed upon Tenant hereunder, together with copies of appropriate financial reports of the successor corporation.