Common use of LESSEE'S CHANGES DEEMED AN ASSIGNMENT Clause in Contracts

LESSEE'S CHANGES DEEMED AN ASSIGNMENT. For purposes of the foregoing, any change in the partners of Lessee, if Lessee is a partnership which results in a transfer of at least fifty percent (50%) or more of the interests in the partnership, or, if Lessee is a corporation, any transfer of at least fifty percent (50%) of the shares of stock of Lessee by sale, assignment, operation of law or otherwise, shall be deemed to be an assignment within the meaning of this Article 10; provided, however, that the sale of stock in a public offering for an aggregate price of at least Twenty Million Dollars ($20,000,000.00) shall not be deemed to be an assignment within the meaning of this ARTICLE 10.

LESSEE'S CHANGES DEEMED AN ASSIGNMENT. For purposes of the foregoing, any change in the partners of Lessee, if Lessee is a partnership which results in a transfer of at least fifty percent (50%) or more of the interests in the partnership, or, if Lessee is a corporation, any transfer of at least fifty percent (50%) of the shares of stock of Lessee by sale, assignment, operation of law or otherwise, shall be deemed to be an assignment within the meaning of this Article 10; provided, however, that the sale of stock in a public offering for an aggregate price of at least Twenty Million Dollars ($20,000,000.00) shall not be deemed to be an assignment within the meaning of this ARTICLE Article 10.