Common use of Lessee Assignment Clause in Contracts

Lessee Assignment. Lessee shall not assign, in whole or in part, this Lease, or allow it to be assigned, in whole or in part, by operation of law or otherwise (including without limitation, if Lessee’s voting securities are not traded on any national securities exchange, by transfer of more than a twenty five percent (25%) interest in Lessee in a single transaction or in a series of transactions, which transfer will be deemed an assignment) or mortgage or pledge the same or sublet the Leased Premises, in whole or in part, without the prior written consent of Lessor which consent may not be unreasonably withheld, conditions or delayed, in Lessor’s sole discretion, be withheld, and in no event will any such assignment or sublease ever release Lessee or any guarantor from any obligation or liability hereunder. Lessee may assign, in whole or in part, this Lease to an affiliate without the prior written consent of Lessor; provided, however, such assignee must be of the same or better credit risk as Lessee and of the same or similar type of business as Lessee. It shall not be deemed an assignment in the event Lessee’s stock becomes publicly traded or Lessee’s business is sold. No assignee or sublessee of the Leased Premises or any portion thereof may assign or sublet the Leased Premises or any portion thereof.

Lessee Assignment. Except for an assignment to an Affiliate (defined below), Lessee shall not assign, in whole or in part, this Lease, or allow it to be assigned, in whole or in part, by operation of law or otherwise (including without limitation, if Lessee’s voting securities are not traded on any national securities exchange, by transfer of more than a twenty five percent (25%) interest in Lessee in a single transaction or in a series of transactions, which transfer will be deemed an assignment) or mortgage or pledge the same or sublet the Leased Premises, in whole or in part, without the prior written consent of Lessor which consent may not be unreasonably withheld, conditions or delayedmay, in Lessor’s sole reasonable discretion, be withheld, and in no event will any such assignment or sublease ever release Lessee or any guarantor from any obligation or liability hereunder. Lessee may assign, in whole or in part, this Lease to an affiliate without the prior written consent of Lessor; provided, however, such assignee must be of the same or better credit risk as Lessee and of the same or similar type of business as Lessee. It shall not be deemed an assignment in the event Lessee’s stock becomes publicly traded or Lessee’s business is sold. No assignee or sublessee of the Leased Premises or any portion thereof may assign or sublet the Leased Premises or any portion thereof. Notwithstanding the foregoing to the contrary, an Affiliate which is an assignee, may assign this Lease to another Affiliate of Lessee. As used in this Lease, an “Affiliate” means any subsidiary or parent of Lessee, any other entity that is a subsidiary of Lessee’s parent, and any corporation into which Lessee may be merged or consolidated or which purchases all or substantially all of the assets or stock of Lessee.