Mortgages, Assignments and Subleases by Xxxxxx a. Lessee’s interest in this Lease may be mortgaged, encumbered, assigned or otherwise transferred, or made the subject of any license or other privilege, by Lessee or by operation of law or otherwise, and the Leased Premises may be sublet, as a whole or in part, but only with, in each case, the prior written consent of Lessor, acting by and through the Office of the Mayor, which shall not be unreasonably withheld so long as such action would not otherwise negatively impact the operation of the Golf Course at the Leased Premises. Notwithstanding the foregoing, this Section shall not be deemed to affect Xxxxxx’s ability to mortgage, encumber, pledge or assign as security its right, title and interest in and to the leasehold estate created under this Lease.
b. No assignment or transfer of any interest in this Lease, no sublease of the Leased Premises or any part thereof shall in any way affect or reduce any of the obligations of Lessee under this Lease, but this Lease and all of the obligations of Lessee under this Lease shall continue in full force and effect.
Mortgages, Assignments and Subleases by Xxxxxx. Section 13.01. Xxxxxx’s interest in this Lease may not be mortgaged, encumbered, assigned or otherwise transferred, or made the subject of any license or other privilege, by Lessee or by operation of law or otherwise, and the Demised Premises may not be sublet, as a whole or in part, without in each case the prior written consent of Lessor, which shall not be unreasonably withheld or delayed, and the execution and delivery to Lessor by the assignee or transferee of a good and sufficient instrument whereby such assignee or transferee assumes all obligations of Lessee under this Lease. In connection with any request by Lessee for such consent to assignment or sublet, Lessee shall provide Lessor with all relevant information requested by Xxxxxx concerning the proposed assignee’s or subtenant’s financial responsibility, credit worthiness and business experience to enable Lessor to make an informed decision. Lessee shall reimburse Lessor promptly for all reasonable out-of-pocket expenses incurred by Xxxxxx including reasonable attorneys’ fees in connection with the review of Xxxxxx’s request for approval of any assignment or sublease. Upon receipt from Lessee of such request and information, Lessor shall have the right, but not the obligation, to be exercised in writing within ten (10) calendar days after its receipt from Lessee of such request and information, (i) if the request is to assign the Lease through the end of the then current term, to terminate this Lease, or (ii) if the request is to sublet a portion of the Demised Premises through the end of the then current term, to release Lessee from its obligations under this Lease with respect to the portion of the Demised Premises subject to the proposed sublet for the term of the proposed sublease or if the request is to sublet all of the Demised Premises through the end of the then current term to terminate this Lease for the term of the proposed sublease; in each case as of the date set forth in Lessor’s notice of exercise of such option, which date shall not be less than thirty (30) days nor more than ninety (90) days following the giving of such notice. In the event of an assignment or a sublet of the Demised Premises where Xxxxxx exercised its option to terminate this Lease, Xxxxxx shall surrender possession of the entire Demised Premises on a date to be mutually agreed upon, but not later than the termination date, in accordance with the provisions of this Lease relating to surrender of the Demised Pr...
Mortgages, Assignments and Subleases by Xxxxxx
