Common use of No Release of Tenant Clause in Contracts

No Release of Tenant. No consent by Landlord to any assignment or subletting by Tenant shall relieve Tenant of any obligation to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transfer. Consent to one Assignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlord. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Lease. Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee or successor. Landlord may consent to subsequent assignments or to amendments or modifications to this Lease with assignee of Tenant, without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each assignment shall be expressly subordinate to the terms of this Lease, and any termination of this Lease shall terminate the Assignee’s right to possession of the Leased Premises.

Appears in 2 contracts

Samples: Industrial Lease, Industrial Lease (Sunpower Corp)

AutoNDA by SimpleDocs

No Release of Tenant. No consent by Landlord to any assignment or subletting by Tenant Regardless of Landlord’s consent, no Transfer described in Section 16.1 shall relieve release Tenant of any Tenant’s obligation or alter the primary liability of Tenant to pay the rent and to perform all other obligations to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premiseshereunder. The acceptance of Rent by Landlord from any other person Consent to one Transfer shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transfer. Consent to one Assignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlordact. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Lease. hereof, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee said assignee or successor. Landlord may consent to subsequent assignments Transfers of this Lease or to amendments or modifications to this Lease with assignee assignees or successors of Tenant, Tenant without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each assignment In the event Landlord allows a Transfer hereunder, neither Tenant, the assignee of Tenant, or the sublessee of Tenant shall have any option to extend the Lease Term even if such option is otherwise granted to Tenant herein and notwithstanding the provisions of any such option granted to Tenant herein, and all rights and options to extend this Lease otherwise granted to Tenant shall be expressly subordinate deemed terminated and canceled as of the date of such Transfer. Notwithstanding anything in this Lease to the terms contrary, Landlord shall have no obligation to grant consent to any transfer as defined in Section 16.1 if Tenant is in default under this Lease at the time the request for consent is made or at any time thereafter through the effective date of the Transfer. In addition, Tenant acknowledges that its intent in executing this LeaseLease is to occupy the Premises and not to make speculative usage of the Premises, and therefore Landlord shall have no obligation whatsoever to consent to any termination proposed Transfer if the rentals payable by the proposed occupant to the Tenant are less than the rentals sought to be received by Landlord for vacant space in the Building as of the date on which the Tenant is requesting Landlord’s consent to the Transfer. In the event that Tenant proposes to assign this Lease shall terminate the Assignee’s right or to possession sublet all or a portion of the Leased Premises, Landlord shall have the right, exercisable by notice in writing after receipt of the request by Tenant, to terminate this Lease with respect to all or such portion of the Premises (as applicable) upon execution of an agreement between Landlord and the proposed assignee or subtenant, provided that Landlord shall not have any such termination right if Tenant withdraws such request within ten (10) days of being notified by Landlord that it has elected to exercise said termination right.

Appears in 2 contracts

Samples: Office Lease (Zendesk, Inc.), Office Lease (Zendesk, Inc.)

No Release of Tenant. No consent If Tenant shall assign this Lease or sublet the Premises in any way not authorized by the terms hereof, the acceptance by Landlord of any Rent from any person claiming as assignee, subtenant, or otherwise shall not be construed as a recognition of or consent to any the assignment or subletting or as a waiver of the right of Landlord thereafter to collect any rent from Tenant, it being agreed that Landlord may at any time accept any Rent under this Lease from any person offering to pay it without thereby acknowledging the person so paying as a Tenant in place of Tenant herein named, and without releasing Tenant from the obligations of this Lease, and without recognizing the claims under which such person offers to pay any Rent, but it shall be taken to be a payment on account by Tenant. While the Premises or any part thereof are subject to a Transfer, Landlord may collect directly from such transferee all rents or other sums relating to the Premises becoming due to Tenant or Landlord and apply such rents and other sums against the Rent and any other sums payable hereunder. If the aggregate rental, bonus or other consideration paid by a transferee for any such space exceeds the sum of (a) Tenant’s Rent to be paid to Landlord for such space during such period and (b) Tenant’s costs and expenses actually incurred in connection with such Transfer, including reasonable brokerage fees, reasonable costs of finishing or renovating the space affected and reasonable cash rental concessions, which costs and expenses are to be amortized over the term of the Transfer, then such excess shall be paid to Landlord within fifteen (15) days after such amount is earned by Tenant. Such overage amounts in the case of a sublease shall be calculated and adjusted (if necessary) on a Lease Year (or partial Lease Year) basis, and there shall be no cumulative adjustment for the Term. Landlord shall have the right to audit Tenant’s books and records relating to the Transfer. Tenant authorizes its transferees to make payments of rent and any other sums due and payable, directly to Landlord upon receipt of notice from Landlord to do so. Any attempted Transfer by Tenant in violation of the terms and covenants of this Section 11 shall relieve Tenant of any obligation to be performed void and shall constitute a default by Tenant under this Lease. In the event that Tenant requests that Landlord consider a sublease or assignment hereunder, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transfer. Consent to one Assignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant pay (i) Landlord’s reasonable fees, not to exceed Five Hundred and 00/100 Dollars ($500.00) per transaction, incurred in connection with the consideration of no more than 4,000 sq. ft. within the Leased Premises such request, and (ii) prior to all attorneys’ fees and costs incurred by Landlord in connection with the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlord. In the event of default by any assignee such request or sublessee of Tenant such sublease or any successor of Tenant in the performance of any of the terms of this Lease. Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee or successor. Landlord may consent to subsequent assignments or to amendments or modifications to this Lease with assignee of Tenant, without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each assignment shall be expressly subordinate to the terms of this Lease, and any termination of this Lease shall terminate the Assignee’s right to possession of the Leased Premisesassignment.

Appears in 2 contracts

Samples: Lease (Roberts Realty Investors Inc), Roberts Realty Investors Inc

No Release of Tenant. No consent by Landlord to any Regardless of Landlord’s consent, no subletting or assignment or subletting by Tenant other transfer described in Section 16.1 shall relieve release Tenant of any Tenant’s obligation or alter the primary liability of Tenant to pay the rent and to perform all other obligations to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transferhereunder. Consent to one Assignmentassignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlordact. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Lease. hereof, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee said assignee or successor. In the event Landlord may consent to subsequent assignments allows assignment or to amendments or modifications to this Lease with subletting hereunder, neither Tenant, the assignee of Tenant, without notifying Tenant, or the sublessee of Tenant shall have any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each assignment shall be expressly subordinate option to extend the terms of this Lease, and any termination term of this Lease even if such option is otherwise granted to Tenant herein and notwithstanding the provisions of any such option granted to Tenant herein, and all rights and options to extend this Lease otherwise granted to Tenant shall terminate the Assignee’s right to possession be deemed terminated and canceled as of the Leased date of such assignment, subletting or other transfer. Notwithstanding anything in this Lease to the contrary, Landlord shall have no obligation to grant consent to any transfer as defined in Section 16.1 if Tenant is in default under this Lease at the time the request for consent is made or at any time thereafter through the effective date of the transfer. In addition, Tenant acknowledges that its intent in executing this Lease is to occupy the Premises and not to make speculative usage of the Premises, and therefore Landlord shall have no obligation whatsoever to consent to any proposed transfer if the rentals payable by the proposed occupant to the Tenant are less than the rentals sought to be received by the Landlord for vacant space in the Building as of the date on which the Tenant is requesting the Landlord’s consent to the transfer. In the event that Tenant proposes to assign this Lease or to sublet all of the Premises, Landlord shall have the right, exercisable by notice in writing after receipt of the request by Tenant, to terminate this Lease upon execution of an agreement between Landlord and the proposed assignee or subtenant, provided that Landlord shall not have any such termination right if Tenant withdraws such request within ten (10) days of being notified by Landlord that it has elected to exercise said termination right.

Appears in 1 contract

Samples: Office Lease (Infotech Usa Inc)

No Release of Tenant. No consent by Landlord to any Regardless of Landlord's consent, no -------------------- subletting or assignment or subletting by Tenant other transfer described in Section 16.1 shall relieve release Tenant of any Tenant's obligation or alter the primary liability of Tenant to pay the rent and to perform all other obligations to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transferhereunder. Consent to one Assignmentassignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlordact. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Lease. hereof, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee said assignee or successor. Landlord may consent to subsequent assignments assignments, subletting, or to transfers of this Lease or amendments or modifications to this Lease with assignee assignees or successors of Tenant, Tenant without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each In the event Landlord allows assignment or subletting hereunder, neither Tenant, the assignee of Tenant, or the sublessee of Tenant shall be expressly subordinate have any option to extend the terms of this Lease, and any termination term of this Lease even if such option is otherwise granted to Tenant herein and notwithstanding the provisions of any such option granted to Tenant herein, and all rights and options to extend this Lease otherwise granted to Tenant shall be deemed terminated and canceled as of the date of such assignment, subletting or other transfer. Notwithstanding anything in this Lease to the contrary, Landlord shall have no obligation to grant consent to any transfer as defined in Section 16.1 if Tenant is in default under this Lease at the time the request for consent is made or at any time thereafter through the effective date of the transfer. In addition, Tenant acknowledges that its intent in executing this Lease is to occupy the Premises and not to make speculative usage of the Premises, and therefore Landlord shall have no obligation whatsoever to consent to any proposed transfer if the rentals payable by the proposed occupant to the Tenant are less than the rentals sought to be received by the Landlord for vacant apace in the Building as of the date on which the Tenant is requesting the Landlord's consent to the transfer. In the event that Tenant proposes to assign this Lease or to sublet all of the Premises, Landlord shall have the right, exercisable by notice in writing after receipt of the request by Tenant, to terminate this Lease in which case the lease shall terminate thirty (30) days following such notice as though such date had been the Assignee’s right to possession of the Leased PremisesExpiration Date as set forth 1,8.

Appears in 1 contract

Samples: Office Lease (LML Payment Systems Inc)

No Release of Tenant. No consent by Landlord to any assignment or subletting by Tenant shall relieve Tenant of any obligation to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The consent by Landlord to any assignment or subletting shall not relieve Tenant from the obligation to obtain Landlord’s express written consent to any other such assignment of the Lease or subletting of the Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignmentassignment, subletting or other transfer. Consent to one Assignmentassignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignmentassignment, subletting or other transfer. Tenant’s obligations shall continue notwithstanding any extension, modification or alteration of this Lease made by Landlord and the assignee or their respective successors or assigns, whether made with or without notice to or consent by Txxxxx, and notwithstanding further assignment, notwithstanding the bankruptcy, reorganization or insolvency of the assignee or its successors or assigns or any disaffirmance or abandonment of this Lease by any trustee or debtor in possession, and notwithstanding any waiver or indulgence which Landlord may grant any such assignee or any failure of Landlord to act with diligence in enforcing the obligations of Tenant hereunder or any discharge or release of any party obligated hereunder. Tenant immediately and hereby irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, Landlord all rent and other sums from any subletting of all or a part of the Leased Premises as permitted by this LeasePremises, and Landlord agrees that Landlord, as assignee and as Tenant’s attorney-in-fact for Tenanthereby created and authorized, or a receiver for Tenant appointed on Landlordupon Lxxxxxxx’s applicationsapplication, may collect such rent and other sums and apply it toward the same as provided in this Lease upon Tenant’s obligations under this Leasedefault; except thatprovided, however, that until the occurrence of an any act of default by Tenant. Tenant or subtenant, Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlord. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Leasesums. Landlord may proceed directly against Tenant without at its election require as a condition to approval of a proposed sublease that the necessity of exhausting remedies against such assignee, sublessee or successor. Landlord may consent to subsequent assignments or to amendments or modifications to this Lease with assignee of Tenant, without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each assignment shall be expressly subordinate rent due pursuant to the terms of this Lease, sublease be paid directly to Landlord and that Landlord shall thereafter remit to Tenant any termination of this Lease shall terminate the Assignee’s right to possession of the Leased Premisesamount owed by Tenant hereunder.

Appears in 1 contract

Samples: Center Triple Net Lease (Bank of Commerce Holdings)

No Release of Tenant. No consent transfer permitted by Landlord this Article Nine, including a transfer to any assignment a Tenant Affiliate, whether with or subletting by without Landlord's consent, shall release Tenant shall relieve Tenant or change Tenant's primary liability to pay the rent and to perform all other obligations of any obligation to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The Landlord's acceptance of Rent by Landlord rent from any other person shall is not be deemed to be a waiver by Landlord of any provision of this Lease or Article Nine. Consent to be one transfer is not a consent to any Assignment, subletting or other subsequent transfer. Consent to one Assignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for If Tenant’s obligations 's transferee defaults under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlord. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Lease. Landlord may proceed directly against Tenant without the necessity of exhausting pursuing remedies against such assignee, sublessee or successorthe transferee. Landlord may consent to subsequent assignments or to amendments or modifications to of this Lease with assignee of by Tenant's transferee, without notifying Tenant, Tenant or any successor or Tenant and without obtaining its or their consent thereto and such consent. Such action shall not relieve Tenant of Tenant's liability under this Lease. Each assignment shall be expressly subordinate Notwithstanding the foregoing, in the event this Lease is transferred and subsequently terminated by reason of (i) the default of the any transferee, pursuant to the terms of this Lease, and any termination provisions thereof or (ii) the disaffirmance or rejection of this Lease shall terminate in any bankruptcy or insolvency proceedings, Tenant shall, upon request from Landlord: (a) pay to Landlord all rent, additional rent and other charges due and owing to Landlord under the Assignee’s right Lease to possession and including the date of such termination, disaffirmance or rejection; and (b) enter, as “Tenant”, into a new lease (the “New Lease”) with Landlord, for the Property for a term commencing on the effective date of such termination, disaffirmance or rejection, and ending on the natural expiration date of the Leased PremisesLease at the same rent, additional rent and upon the same executory terms, covenants and conditions as are contained in the Lease, except that: (c) Tenant’s rights under the New Lease shall be subject to the possessory rights (if any) of the transferee under the Lease and the possessory rights (if any) of any person, firm or corporation claiming by, through or under the transferee or by virtue of any statute or of any order of any court; and (d) such New Lease with Tenant shall require that all defaults existing under the Lease be cured by Tenant within thirty (30) days of the commencement date of the New Lease (as specified above). In the event Tenant shall default in its obligation to enter into such New Lease and such default shall continue for a period of 10 (ten) days following Landlord’s written request therefore, then Landlord shall have all rights, claims and remedies by reason of such default, either at law or/in equity against Tenant, and in addition, all rights, claims and remedies against Tenant as if Tenant had entered into said New Lease and defaulted thereunder.

Appears in 1 contract

Samples: Wrap Technologies, Inc.

AutoNDA by SimpleDocs

No Release of Tenant. No consent by Landlord to any Regardless of Landlord's consent, no subletting or assignment or subletting by other transfer described in Section 16.1 shall release Tenant shall relieve (or any guarantor of Tenant's obligations hereunder) from Tenant's obligations or alter the primary liability of Tenant of any obligation to pay the rent and to perform all other obligations to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transferhereunder. Consent to one Assignmentassignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlordact. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Lease. hereof, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee said assignee or successor. Landlord may consent to subsequent assignments assignments, subletting, or to transfers of this Lease or amendments or modifications to this Lease with assignee assignees or successors of Tenant, Tenant without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each In the event Landlord allows assignment or subletting hereunder, neither Tenant, the assignee of Tenant, or the sublessee of Tenant shall be expressly subordinate have any option to extend the terms of this Lease, and any termination term of this Lease even if such option is otherwise granted to Tenant herein and notwithstanding the provisions of any such option granted to Tenant herein, and all rights and options to extend this Lease otherwise granted to Tenant shall terminate the Assignee’s right to possession be deemed terminated and canceled as of the Leased date of such assignment, subletting or other transfer. Notwithstanding anything in this Lease to the contrary, Landlord shall have no obligation to grant consent to any transfer as defined in Section 16.1 if Tenant is in default under this Lease at the time the request for consent is made or at any time thereafter through the effective date of the transfer. In addition, Tenant acknowledges that its intent in executing this Lease is to occupy the Premises and not to make speculative usage of the Premises, and therefore Landlord shall have no obligation whatsoever to consent to any proposed transfer if the rentals payable by the proposed occupant to the Tenant are less than the rental sought to be received by the Landlord for vacant space in the Building as of the date on which the Tenant is requesting the Landlord's consent to the transfer. In the event that Tenant proposes to assign this Lease or to sublet all of the Premises, Landlord shall have the right, exercisable by notice in writing after receipt of the request by Tenant, to terminate this Lease upon execution of an agreement between Landlord and the proposed assignee or subtenant, provided that Landlord shall not have any such termination right if Tenant withdraws such request within ten (10) days of being notified by Landlord that it has elected to exercise said termination right.

Appears in 1 contract

Samples: Commercial Lease (McData Corp)

No Release of Tenant. No consent by Landlord to any Regardless of Landlord's consent, no subletting or assignment or subletting by Tenant other transfer described in Section 16.1 shall relieve release Tenant of any Tenant's obligation or alter the primary liability of Tenant to pay the rent and to perform all other obligations to be performed by Tenant under this Lease, whether occurring before or after such consent, assignment of the Lease or subletting of the Leased Premises. The acceptance of Rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignment, subletting or other transferhereunder. Consent to one Assignmentassignment, subletting or other transfer shall not be deemed to constitute consent to any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any subletting of all or a part of the Leased Premises as permitted by this Lease, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid to Landlord, or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlordact. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of Tenant’s obligations under this Lease. , Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee assignee or successor. Landlord may consent to subsequent assignments assignments, subletting, or to transfers of this Lease or amendments or modifications to this Lease with assignee assignees or successors of Tenant, Tenant without notifying Tenant, or any successor or Tenant and without obtaining its or their consent thereto and such action shall not relieve Tenant of liability under this Lease. Each assignment shall be expressly subordinate Notwithstanding anything in this Lease to the terms contrary, Landlord shall have no obligation to grant consent to any transfer as defined in Section 16.1 if Tenant is in monetary or material non-monetary default under this Lease after any applicable notice and cure period at the time the request for consent is made or at any time thereafter through the effective date of the transfer. In addition, Tenant acknowledges that its intent in executing this LeaseLease is to occupy the Premises and not to make speculative usage of the Premises, and therefore Landlord shall have no obligation whatsoever to consent to any termination proposed transfer if the proposed occupant is an existing tenant in the Building and there exists space in the Building available for direct lease from Landlord, which space is reasonably sufficient to satisfy the existing tenant's or occupant's requirements or a potential tenant with whom Landlord is then (as of the time of Tenant’s request for Landlord’s consent) negotiating regarding the lease of space in the Building of comparable size and configuration to the space being offered by Tenant. In the event that Tenant proposes to assign its entire interest in this Lease (other than in connection with Permitted Disposition pursuant to Section 16.5 hereof), Landlord shall terminate have the Assignee’s right right, exercisable by notice in writing to possession Tenant ("Recapture Notice") which Recapture Notice must be delivered, if at all, within fifteen (15) business days after receipt of the Leased Premisesrequest by Tenant for Landlord’s consent to such assignment, to terminate this Lease upon execution of an agreement between Landlord and the proposed assignee, provided that Landlord shall not have any such termination right if Tenant withdraws such request within ten (10) days after Tenant's receipt of the Recapture Notice from Landlord.

Appears in 1 contract

Samples: Office Lease (Copart Inc)

No Release of Tenant. No consent by of Landlord to any assignment or subletting by Tenant shall relieve Tenant of any obligation the obligations to be performed by Tenant under this Lease, whether occurring accruing before or after such assignment, or subletting, and notwithstanding any subsequent modification, extension or renewal of this Lease made with or without Tenant's consent, . The consent by Landlord to any assignment of the Lease or subletting of shall not relieve Tenant from the Leased Premisesobligations to obtain Landlord's express prior written consent to any other assignment or subletting. The acceptance of Rent by Landlord of payment from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Assignmenttransfer or sublease, subletting or other transfer. Consent to one Assignment, subletting or other transfer shall not be deemed to constitute consent to a release of Tenant from any subsequent Assignment. Tenant immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations obligation under this Lease. If this Lease is assigned, all or if sublease, or to be a release of Tenant from any obligation under this Lease. If this Lease is assigned, or if the Premises or any part thereof is sublet or occupied by any person other than Tenant, Landlord may, after default by Tenant, collect the rent from any subletting of all such assignee, transferee, sub-tenant or a part of occupant and apply the Leased Premises as permitted by this Leasenet amount collected to the rent reserved herein, and no such action by Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s applications, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of an act of default by Tenant. Tenant shall have the right to collect such rent. Except as to a sublease by Tenant (i) of no more than 4,000 sq. ft. within the Leased Premises and (ii) prior to the end of the initial term of this Lease, all rent received by Tenant from its subtenants in excess of the Rent payable by Tenant to Landlord under this Lease shall be paid deemed a consent to Landlordsuch assignment, transfer, sublease or any sums to be paid by an assignee to Tenant in consideration of the assignment of this Lease shall be paid to Landlord. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms of this Leaseoccupancy. Landlord may proceed directly against Tenant without the necessity of exhausting remedies against such assignee, sublessee the assignee or successor. Landlord may consent to subsequent assignments or to subletting of this Lease or amendments or modifications to this Lease with assignee assignees of Tenant, without notifying Tenant, Tenant or any successor or Tenant of Tenant, and without obtaining its or their consent thereto and such consent. This action shall not relieve Tenant of liability under this Lease. Each assignment Lease provided, however, that Tenant shall not be expressly subordinate liable for any increase in Tenant's obligations under this Lease because of any amendment or modification to the terms of this Lease, and any termination of this Lease shall terminate the Assignee’s right unless Tenanx xxx consented to possession of the Leased Premisesit in writing.

Appears in 1 contract

Samples: Assignment Agreement (Syncor International Corp /De/)

Time is Money Join Law Insider Premium to draft better contracts faster.