Common use of Continuing Obligation of Tenant Clause in Contracts

Continuing Obligation of Tenant. Except as provided below in this Section 15.3, no transfer permitted by this Section 15 shall release Tenant or change Tenant’s primary liability to pay the rent and to perform all other obligations of Tenant under this Lease. Landlord’s acceptance of rent from any other person is not a waiver of any provision of this Section. Consent to one transfer is not a consent to any subsequent transfer. If Tenant’s transferee defaults under this Lease, Landlord may proceed directly against Tenant without pursuing remedies against the transferee. Landlord shall not consent to subsequent assignments or modifications of this Lease by Tenant’s transferee without first notifying Tenant and obtaining its written consent. Such action shall not relieve Tenant’s liability under this Lease, except that Tenant shall not be liable for any extension of the term or increase in rentals made without Tenant’s prior written consent. Notwithstanding the above, upon the assignment of this Lease to an entity or individual with a net worth equal to or greater than the net worth of Tenant on the date of execution of this Lease, Tenant shall be released and relieved of all further liability under this Lease from and after the effective date of such assignment. Each subsequent assignee, upon making a further assignment in compliance with the terms and conditions of this Section 15.3 shall be released and relieved of all further liability under this Lease from and after the effective date of such further assignment.

Continuing Obligation of Tenant. Except as provided below in this Section 15.3No transfer, no transfer permitted by this Section 15 even with the consent of Landlord, shall release Tenant or change Tenant’s primary liability of its obligation to pay the rent and to perform all other obligations of Tenant under this Leasehereunder. Landlord’s Neither a delay in the approval or disapproval of an assignment or subletting, nor the acceptance by Landlord of rent any payment due hereunder from any source other person is not than Tenant shall be deemed a waiver by Landlord of any provision of this Section. Consent Lease or to one transfer is not be a consent to any subsequent transferassignment or subletting. If Tenant’s transferee defaults 's obligations under this Lease have been guaranteed by third parties, then an assignment or sublease, and Landlord's consent thereto, shall not be effective unless said guarantors give their written consent to such sublease and the terms thereof. In the event of any default under this Lease, Landlord may proceed directly against Tenant Tenant, any guarantors or anyone else responsible for the performance of this Lease, including the subtenant, without pursuing first exhausting Landlord's remedies against the transfereeany other person or entity responsible therefor to Landlord, or any security held by Landlord or Tenant. Landlord shall not may consent to subsequent assignments or modifications of this Lease by Tenant’s transferee 's transferee, without first notifying Tenant and or obtaining its written consent. Such action shall not relieve Tenant’s 's liability under this Lease, except that Tenant shall not be liable for any extension of the term or increase in rentals made without Tenant’s prior written consent. Notwithstanding the above, upon the assignment of this Lease to an entity or individual with a net worth equal to or greater than the net worth of Tenant on the date of execution of this Lease, Tenant shall be released and relieved of all further liability under this Lease from and after the effective date of such assignment. Each subsequent assignee, upon making a further assignment in compliance with the terms and conditions of this Section 15.3 shall be released and relieved of all further liability under this Lease from and after the effective date of such further assignment.

Continuing Obligation of Tenant. Except as provided below in this Section 15.3, no No transfer permitted by this Section 15 16 shall release Tenant or change Tenant’s primary liability to pay the rent and to perform all other obligations of Tenant under this Lease, nor shall any transfer release any Guarantor or change any Guarantor’s liability to pay rent or perform any other obligation of Tenant under this Lease. Landlord’s acceptance of rent from any other person is not a waiver of any provision of this Section. Consent to one transfer is not a consent to any subsequent transfer. If Tenant’s transferee defaults under this Lease, Landlord may proceed directly against Tenant without pursuing remedies against the transferee. Landlord shall not may consent to subsequent assignments or modifications of this Lease by Tenant’s transferee transferee, without first notifying Tenant and or obtaining its written consent. Such action shall not relieve consent and without relieving Tenant’s liability under this Lease, except that Tenant . No assignment or sublease made as permitted by this Section 16 shall not be liable for affect or reduce any extension of the term or increase in rentals made without Tenant’s prior written consent. Notwithstanding the above, upon the assignment of this Lease to an entity or individual with a net worth equal to or greater than the net worth obligations of Tenant hereunder, and all such obligations shall continue in full effect as obligations of a principal and not as obligations of a guarantor or surety, to the same extent as though no assignment or subletting had been made. No sublease or assignment made as permitted by this Section 16 shall impose any obligations on Landlord or otherwise affect any of the date rights of execution of Landlord under this Lease. Tenant shall, within 10 days after the execution and delivery of any such assignment, deliver a conformed copy thereof to Landlord, and within 10 days after the execution and delivery of any such sublease, Tenant shall be released give notice to Landlord of the existence and relieved term thereof, and of all further liability under this Lease from the name and after address of the effective date of such assignment. Each subsequent assignee, upon making a further assignment in compliance with the terms and conditions of this Section 15.3 shall be released and relieved of all further liability under this Lease from and after the effective date of such further assignmentsublessee thereunder.