Common use of Criteria for Consent for Transfer Clause in Contracts

Criteria for Consent for Transfer. The Lessor may, at its sole discretion, condition its consent to a permitted Assignment, Sublease or Transfer upon satisfaction of all or any of the following conditions: (1) The proposed entity to which the Leasehold is being assigned, transferred, or subleased (“Transferee”), shall be an Acceptable Operator; (2) Transferee shall satisfy the qualification requirements imposed upon Lessee and set out in the original RFP; (3) Transferee shall have no open permits, liens, fines, unsafe structures, or any open lawsuits; (4) The net assets of the Transferee immediately prior to the Transfer shall not be less than: (a) the net assets of the Transferor whose interest is being transferred immediately prior to the Transfer; (b) the net assets of said Transferor on the Lease Date adjusted for inflation; or (c) an amount reasonably necessary to discharge Lessee’s remaining obligations hereunder; (5) Such Transfer shall not adversely affect the quality and type of business operation which the Lessee has conducted theretofore; (6) Such Transferee, shall possess qualifications for the Lessee’s business substantially equivalent to Lessee or an Acceptable Operator, or shall engage an Acceptable Operator and shall have demonstrated recognized experience in successfully operating such a business, including, without limitation, experience in successfully operating a similar quality business; (7) Such Transferee shall agree to continue to operate a business similar to the use conducted at the Premises pursuant to this Lease; (8) Such Transferee shall assume in writing, in a form acceptable to Lessor, all of Lessee’s obligations hereunder, and Lessee shall provide Lessor with a copy of all documents pertaining to such Transfer; (9) Transferee shall submit to a credit check and other background checks as Lessor sees fit. Failure or refusal to submit to said credit and background checks shall be an automatic disqualification of the potential transferee; (10) Transferee shall be required to pay a minimum of fair market value for the assignment, sublease or transfer; (11) Lessee shall pay to the Lessor any due, but unpaid Rent.

Criteria for Consent for Transfer. The Lessor may, at its sole discretion, may condition its consent to a permitted Assignment, Sublease or Transfer transfer upon satisfaction of all or any of the following conditions: (1) The proposed entity to which the Leasehold is being assigned, transferred, or subleased (“Transferee”), shall be an Acceptable Operator; (2) Transferee shall satisfy the qualification requirements imposed upon Lessee and set out in the original RFP; (3) Transferee shall have no open permits, liens, fines, unsafe structures, or any open lawsuits; (4i) The net assets of the Transferee immediately prior to the Transfer transfer shall not be less than: (a) the net assets of the Transferor whose interest is being transferred immediately prior to the Transfertransfer; (b) the net assets of said Transferor on the Lease Effective Date adjusted for inflation; or (c) an amount reasonably necessary to discharge Lessee’s Lessee‟s remaining obligations hereunder; (5ii) Such Transfer transfer shall not adversely affect the quality and type of business operation which the Lessee has conducted theretofore; (6iii) Such Transferee, shall possess qualifications for the Lessee’s 's business substantially equivalent to Lessee or an Acceptable Operatoracceptable operator, or shall engage an Acceptable Operator acceptable operator and shall have demonstrated recognized experience in successfully operating such a business, including, without limitation, experience in successfully operating a similar quality business; (7iv) Such Transferee shall agree to continue to operate a the business similar to the use conducted at the Premises Property pursuant to all the provisions of this Lease; (8) v) Such Transferee shall assume in writing, in a form acceptable to Lessor, all of Lessee’s Lessee‟s obligations hereunder, and Lessee shall provide Lessor with a copy of all documents pertaining to such Transfer; (9) Transferee shall submit to a credit check and other background checks as Lessor sees fit. Failure or refusal to submit to said credit and background checks shall be an automatic disqualification of the potential transferee; (10) Transferee shall be required to pay a minimum of fair market value for the assignment, sublease or transfer; (11vi) Lessee shall pay to Lessor a Transfer Fee of dollars ($ ) prior to the effective date of the transfer in order to reimburse Lessor for all of its internal costs and expenses incurred with respect to the transfer, including, without limitation, costs incurred in connection with the review of financial materials, meetings with representatives of Transferee, and preparation, review, approval and execution of the required documents; (vii) Lessee shall pay to the Lessor any due, but unpaid Rent.

Criteria for Consent for Transfer. The Lessor may, at its sole discretion, may condition its consent to a permitted Assignment, Sublease or Transfer transfer upon satisfaction of all or any of the following conditions: (1) The proposed entity to which the Leasehold is being assigned, transferred, or subleased (“Transferee”), shall be an Acceptable Operator; (2) Transferee shall satisfy the qualification requirements imposed upon Lessee and set out in the original RFP; (3) Transferee shall have no open permits, liens, fines, unsafe structures, or any open lawsuits; (4i) The net assets of the Transferee immediately prior to the Transfer transfer shall not be less than: (a) the net assets of the Transferor whose interest is being transferred immediately prior to the Transfertransfer; (b) the net assets of said Transferor on the Lease Effective Date adjusted for inflation; or (c) an amount reasonably necessary to discharge LesseeXxxxxx’s remaining obligations hereunder; (5ii) Such Transfer transfer shall not adversely affect the quality and type of business operation which the Lessee has conducted theretofore; (6iii) Such Transferee, shall possess qualifications for the Lessee’s 's business substantially equivalent to Lessee or an Acceptable Operatoracceptable operator, or shall engage an Acceptable Operator acceptable operator and shall have demonstrated recognized experience in successfully operating such a business, including, without limitation, experience in successfully operating a similar quality business; (7iv) Such Transferee shall agree to continue to operate a the business similar to the use conducted at the Premises Property pursuant to all the provisions of this Lease; (8) v) Such Transferee shall assume in writing, in a form acceptable to Lessor, all of LesseeXxxxxx’s obligations hereunder, and Lessee Xxxxxx shall provide Lessor with a copy of all documents pertaining to such Transfer; (9) Transferee shall submit to a credit check and other background checks as Lessor sees fit. Failure or refusal to submit to said credit and background checks shall be an automatic disqualification of the potential transferee; (10) Transferee shall be required to pay a minimum of fair market value for the assignment, sublease or transfer; (11vi) Lessee shall pay to Lessor a Transfer Fee of Five Thousand dollars ($5,000) prior to the effective date of the transfer in order to reimburse Lessor for all of its internal costs and expenses incurred with respect to the transfer, including, without limitation, costs incurred in connection with the review of financial materials, meetings with representatives of Transferee, and preparation, review, approval and execution of the required documents; (vii) Lessee shall pay to the Lessor any due, but unpaid Rent.