Common use of BNPLC's Consent Required Clause in Contracts

BNPLC's Consent Required. Except as required to satisfy subparagraphs 0 and 0, Electroglas shall not, without the prior consent of BNPLC in each case, assign, transfer, mortgage, pledge or hypothecate this Lease or any interest of Electroglas hereunder or sublet all or any part of the Property, by operation of law or otherwise; provided, that, so long as no Event of Default has occurred and is continuing, Electroglas shall be entitled without the consent of BNPLC to (1) assign Electroglas' rights under this Lease and the Purchase Documents to an Affiliate of Electroglas pursuant to a written assignment unconditionally providing that the Affiliate assumes Electroglas' obligations hereunder and thereunder and that Electroglas ratifies and confirms for the benefit of BNPLC Electroglas' responsibility and liability to BNPLC under this Lease and the Purchase Documents, and (2) sublet all or any portion of the Property if: (i) any sublease by Electroglas is made expressly subject and subordinate to the terms hereof; (ii) no sublease has a term longer than the remainder of the then effective term of this Lease; (iii) each sublease expressly prohibits any use not consistent with subparagraph 0, and, with respect to any sublessee not an Affiliate of Electroglas, expressly prohibits any manufacturing use not approved in advance by BNPLC as a use that will not present any extraordinary risk of environmental or other uninsured liability; and (iv) the subleases by Electroglas to anyone other than its own Affiliates are limited to sixty-five percent (65%) of the square footage of completed building Improvements.

BNPLC's Consent Required. Except as required to satisfy subparagraphs 0 and 0, Electroglas shall not, without Without the prior consent of BNPLC in each caseBNPLC, Solectron shall not assign, transfer, mortgage, pledge or hypothecate this Lease or any interest of Electroglas Solectron hereunder or and shall not sublet all or any part of the Property, by operation of law or otherwise; provided, that, so long as no Landlord's Election to Continue Construction has occurred and no Event of Default has occurred and is continuing, Electroglas Solectron shall be entitled without the consent of BNPLC to (1) assign Electroglas' Solectron's rights under this Lease and the Purchase Documents Agreement to an Affiliate of Electroglas Solectron (including any Affiliate of Solectron that is the surviving entity after a merger permitted by subsection 3.04(a) of Schedule A attached to the Guaranty) pursuant to a written assignment unconditionally providing that the Affiliate assumes Electroglas' Solectron's obligations hereunder and thereunder and (unless Solectron has been merged into the Affiliate pursuant to a merger permitted by subsection 3.04(a) of Schedule A attached to the Guaranty) that Electroglas Solectron ratifies and confirms for the benefit of BNPLC Electroglas' Solectron's responsibility and liability to BNPLC under this Lease and the Purchase DocumentsAgreement, and (2) sublet all or any portion of the Property if: (i) any sublease by Electroglas Solectron is made expressly subject and subordinate to the terms hereof; (ii) no sublease has a term longer than purports to grant the remainder of subtenant thereunder rights to use or occupy the then effective term Property after the expiration or termination of this Lease, other than rights expressly conditioned upon a purchase by Solectron of the Property pursuant to the Purchase Agreement; (iii) each the uses permitted by such sublease are limited to uses expressly prohibits any use not consistent with permitted by subparagraph 0, and, with respect to any sublessee not an Affiliate of Electroglas, expressly prohibits any manufacturing use not approved in advance by BNPLC as a use that will not present any extraordinary risk of environmental or other uninsured liability3. (a) above; and (iv) the subleases less than forty-nine percent (49%) of any completed Improvements are at any time subleased by Electroglas Solectron to anyone other than its own Affiliates are limited to sixty-five percent (65%) of the square footage of completed building ImprovementsAffiliates.

BNPLC's Consent Required. Except as required to satisfy subparagraphs 0 and 0, Electroglas shall not, without Without the prior consent of BNPLC in each caseBNPLC, FCI shall not assign, transfer, mortgage, pledge or hypothecate this Lease or any interest of Electroglas FCI hereunder or and shall not sublet all or any part of the Property, by operation of law or otherwise; provided, that, if (and after) FCI completes the Construction Project pursuant to the Construction Management Agreement and so long as no Event of Default has occurred and is continuing, Electroglas FCI shall be entitled without the consent of BNPLC to (1) assign Electroglas' FCI's rights under this Lease and the Purchase other Operative Documents to an Affiliate of Electroglas FCI (including any Affiliate of FCI that is the surviving entity after a merger permitted by subsection 3.04(a) of Schedule A attached to the Guaranty) pursuant to a written assignment unconditionally providing that the Affiliate assumes Electroglas' FCI's obligations hereunder and thereunder and (unless FCI has been merged into the Affiliate pursuant to a merger permitted by subsection 3.04(a) of Schedule A attached to the Guaranty) that Electroglas FCI ratifies and confirms for the benefit of BNPLC Electroglas' FCI's responsibility and liability to BNPLC under this Lease and the Purchase other Operative Documents, and (2) sublet all or any portion of the Property if: (i) any sublease by Electroglas FCI is made expressly subject and subordinate to the terms hereof; (ii) no sublease has a term longer than purports to grant the remainder of subtenant thereunder rights to use or occupy the then effective term Property after the expiration or termination of this Lease, other than rights expressly conditioned upon a purchase by FCI of the Property pursuant to the Purchase Agreement; (iii) each the uses permitted by such sublease are limited to uses expressly prohibits any use not consistent with permitted by subparagraph 0, and, with respect to any sublessee not an Affiliate of Electroglas, expressly prohibits any manufacturing use not approved in advance by BNPLC as a use that will not present any extraordinary risk of environmental or other uninsured liability3. (a) above; and (iv) the subleases less than forty-nine percent (49%) of any completed Improvements are at any time subleased by Electroglas FCI to anyone other than its own Affiliates are limited to sixty-five percent (65%) of the square footage of completed building ImprovementsAffiliates.

BNPLC's Consent Required. Except as required to satisfy subparagraphs 0 and 0, Electroglas shall not, without Without the prior consent of BNPLC in each caseBNPLC, SGC shall not assign, transfer, mortgage, pledge or hypothecate this Lease or any interest of Electroglas SGC hereunder or and shall not sublet all or any part of the Property, by operation of law or otherwise; provided, that, if (and after) SGC completes the Construction Project pursuant to the Construction Management Agreement and so long as no Event of Default has occurred and is continuing, Electroglas SGC shall be entitled without the consent of BNPLC to (1) assign Electroglas' SGC's rights under this Lease and the Purchase other Operative Documents to an Affiliate of Electroglas SGC (including any Affiliate of SGC that is the surviving entity after a merger permitted by subsection 3.04(a) of Schedule A attached to the Guaranty) pursuant to a written assignment unconditionally providing that the Affiliate assumes Electroglas' SGC's obligations hereunder and thereunder and (unless SGC has been merged into the Affiliate pursuant to a merger permitted by subsection 3.04(a) of Schedule A attached to the Guaranty) that Electroglas SGC ratifies and confirms for the benefit of BNPLC Electroglas' SGC's responsibility and liability to BNPLC under this Lease and the Purchase other Operative Documents, and (2) sublet all or any portion of the Property if: (i) any sublease by Electroglas SGC is made expressly subject and subordinate to the terms hereof; (ii) no sublease has a term longer than purports to grant the remainder of subtenant thereunder rights to use or occupy the then effective term Property after the expiration or termination of this Lease, other than rights expressly conditioned upon a purchase by SGC of the Property pursuant to the Purchase Agreement; (iii) each the uses permitted by such sublease are limited to uses expressly prohibits any use not consistent with permitted by subparagraph 0, and, with respect to any sublessee not an Affiliate of Electroglas, expressly prohibits any manufacturing use not approved in advance by BNPLC as a use that will not present any extraordinary risk of environmental or other uninsured liability3. (a) above; and (iv) the subleases less than forty-nine percent (49%) of any completed Improvements are at any time subleased by Electroglas SGC to anyone other than its own Affiliates are limited to sixty-five percent (65%) of the square footage of completed building ImprovementsAffiliates.