Common use of Permitted Sublease and Assignment Clause in Contracts

Permitted Sublease and Assignment. Notwithstanding the foregoing, but subject to the provisions of Section 16.4 and any other express conditions or limitations set forth herein, Tenant may, in each instance after Notice to Landlord, (a) sublease space at the Leased Property for newsstand, gift shop, parking garage, health club, restaurant, bar or commissary purposes or similar concessions in furtherance of the Permitted Use, so long as such subleases do not demise, in the aggregate, in excess of three thousand (3,000) square feet (exclusive of any parking garage subleases), will not violate or affect any Legal Requirement or Insurance Requirement, and Tenant shall provide such additional insurance coverage applicable to the activities to be conducted in such subleased space as Landlord and any Hotel Mortgagee may reasonably require; and (b), in the event that there is a Corporate Transfer permitted pursuant to Section 16.1, as a result of which all or substantially all of the assets with respect to either, but not both, of the Residence Inn by Marriott or Courtyard by Marriott brand are transferred to a Person that is not an Affiliated Person as to Tenant, sublease the Leased Property or assign Tenant's rights under this Agreement to an Affiliated Person as to Tenant or the Guarantor which retains all or substantially all of the assets of the brand not so transferred, provided all of the Collective Leased Properties or Other Leases operated under the same brand are so subleased or assigned, as the case may be.