Common use of Deemed Assignment/Sublet Clause in Contracts

Deemed Assignment/Sublet. For purposes of this Section 10 the following shall be deemed an assignment or sublease, as the case may be, subject to the requirements of this Section: (i) the transfer of more than thirty percent (30%) of the outstanding capital stock of any corporate tenant or subtenant or any increase in the amount of issued and/or outstanding shares of capital stock and/or the creation of one or more additional classes of common stock of any corporate tenant or subtenant with the result that the beneficial and record ownership in and to such tenant or subtenant changes by more than thirty percent (30%) from the beneficial and record ownership as of the Commencement Date, or the transfer of more than thirty percent (30%) of any partnership interest in Tenant or any subtenant, if Tenant or subtenant is a partnership, however accomplished, whether in a single transaction or in a series of related or unrelated transactions; (ii) any agreement by any other person or entity directly or indirectly, to assume Tenant’s obligations under this Lease; (iii) any transfer or series of transfers, by operation of law or otherwise, of Tenant’s interest in this Lease, including without limitation the transfer of this Lease to a subsidiary or affiliate of Tenant and the subsequent transfer of stock or other ownership interest in such subsidiary or affiliate; and (iv) each modification, amendment or extension of any sublease to which Landlord has previously consented shall be deemed a new sublease.

Deemed Assignment/Sublet. For purposes of this Section 10 9 the following shall be deemed an a prohibited assignment or sublease, as the case may be, subject to the requirements of this Section: (i) the transfer of more than thirty percent (30%) of the outstanding capital stock of any corporate tenant or subtenant or any increase in the amount of issued and/or outstanding shares of capital stock and/or the creation of one or more 10 additional classes of common stock of any corporate tenant or subtenant with the result that the beneficial and record ownership in and to such tenant or subtenant changes by more than thirty percent (30%) from the beneficial and record ownership as of the Commencement Date, or the transfer of more than thirty percent (30%) of any partnership interest in Tenant or any subtenant, if Tenant or subtenant is a partnership, however accomplished, whether in a single transaction or in a series of related or unrelated transactions; (ii) any agreement by any other person or entity directly or indirectly, to assume Tenant’s 's obligations under this Lease; (iii) any transfer or series of transfers, by operation of law or otherwise, of Tenant’s 's interest in this Lease, including without limitation the transfer of this Lease to a subsidiary or affiliate of Tenant and the subsequent transfer of stock or other ownership interest in such subsidiary or affiliate; and (iv) each modification, amendment or extension of any sublease to which Landlord has previously consented shall be deemed a new sublease. Tenant agrees to furnish Landlord upon demand at any time, such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section.

Deemed Assignment/Sublet. For purposes of this Section 10 9 the following shall be deemed an a prohibited assignment or sublease, as the case may be, subject to the requirements of this Section: (i) the transfer of more than thirty percent (30%) of the outstanding capital stock of any corporate tenant or subtenant or any increase in the amount of issued and/or outstanding shares of capital stock and/or the creation of one or more additional classes of common stock of any corporate tenant or subtenant with the result that the beneficial and record ownership in and to such tenant or subtenant changes by more than thirty percent (30%) from the beneficial and record ownership as of the Commencement Date, or the transfer of more than thirty percent (30%) of any partnership interest in Tenant or any subtenant, if Tenant or subtenant is a partnership, however accomplished, whether in a single transaction or in a series of related or unrelated transactions; (ii) any agreement by any other person or entity directly or indirectly, to assume Tenant’s obligations under this Lease; (iii) any transfer or series of transfers, by operation of law or otherwise, of Tenant’s interest in this Lease, including without limitation the transfer of this Lease to a subsidiary or affiliate of Tenant and the subsequent transfer of stock or other ownership interest in such subsidiary or affiliate; and (iv) each modification, amendment or extension of any sublease to which Landlord has previously consented shall be deemed a new sublease. Tenant agrees to furnish Landlord upon demand at any time, such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section.

Deemed Assignment/Sublet. For purposes of this Section 10 9 the following shall be deemed an a prohibited assignment or sublease, as the case may be, subject to the requirements of this Section: (i) the transfer of more than thirty fifty percent (3050%) of the outstanding capital stock of any corporate tenant or subtenant or any increase in the amount of issued and/or outstanding shares of capital stock and/or the creation of one or more additional classes of common stock of any corporate tenant or subtenant with the result that the beneficial and record ownership in and to such tenant or subtenant changes by more than thirty fifty percent (3050%) from the beneficial and record ownership as of the Commencement Date, or the transfer of more than thirty fifty percent (3050%) of any partnership interest in Tenant or any subtenant, if Tenant or subtenant is a partnership, however accomplished, whether in a single transaction or in a series of related or unrelated transactions; (ii) any agreement by any other person or entity directly or indirectly, to assume Tenant’s 's obligations under this Lease, except as otherwise specifically permitted hereunder; (iii) any transfer or series of transfers, by operation of law or otherwise, of Tenant’s 's interest in this Lease, including without limitation the transfer of this Lease to a subsidiary or affiliate of Tenant and the subsequent transfer of stock or other ownership interest in such subsidiary or affiliate; and (iv) each modification, amendment or extension of any sublease to which Landlord has previously consented shall be deemed a new sublease. Tenant agrees to furnish Landlord upon demand at any time, such information and assurances as Landlord may reasonably request that neither Tenant, nor any previously permitted subtenant, has violated the provisions of this Section.