Common use of Effect of Sublease or Assignment Clause in Contracts

Effect of Sublease or Assignment. No Sublease or Assignment by Tenant or any consent by City will relieve Tenant, or any guarantor, of any obligation to be performed by Tenant under this Lease. Any Sublease or Assignment not in compliance with this Section will be void and, at City’s option, will constitute a material default by Tenant under this Lease. City’s acceptance of any Base Rent or other payments from a proposed Transferee will not constitute City’s consent to any Sublease or Assignment or a recognition of any Transferee, or City’s waiver of any failure of Tenant or other transferor to comply with this Section. If there is an Assignment or Sublease, whether in violation of or in compliance with this Section, and a Transferee or any successor of Tenant defaults in the performance or observance of any of the terms of this Lease or any Sublease or Assignment agreement, City may proceed directly against Tenant without the necessity of exhausting remedies against the Transferee or successor.

Effect of Sublease or Assignment. No Sublease or Assignment by Tenant or any consent by City will relieve Tenant, or any guarantor, of any obligation to be performed by Tenant under this Lease. Any Sublease or Assignment not in compliance with this Section will be void and, at City’s option, will constitute a material default by Tenant under this Lease. City’s acceptance of any Base Rent or other payments from a proposed Transferee will not constitute City’s consent to any Sublease or Assignment or a recognition of any Transferee, or City’s waiver of any failure of Tenant or other transferor to comply with this Section. If there is an Assignment or Sublease, whether in violation of or in compliance with this Section, and a Transferee or any successor of Tenant defaults in the performance or observance of any of the terms of this Lease or any City agreement consenting to the Sublease or Assignment agreementAssignment, then City may proceed directly against Tenant without the necessity of exhausting remedies against the Transferee or successor.