PROCEDURE FOR OBTAINING LESSOR'S CONSENT. Lessee shall not, without the prior written consent of Lessor, (a) transfer, pledge, mortgage or assign this Lease or any interest hereunder; (b) permit any assignment of this Lease by voluntary act, operation of law or otherwise; (c) sublet the Premises or any part thereof; or (d) permit the use of the Premises by any parties other than Lessee, its agents and employees. Lessee shall seek such written consent of Lessor by a written request therefor, setting forth such information as Lessor may deem reasonably necessary. Lessee shall, by notice in writing, advise Lessor of its intention from, on and after a stated date (which shall not be less than thirty [30] days after date of Lessee's notice), to assign this Lease or to sublet any part or all of the Premises for the balance or any part of the term. Lessee's notice shall include all of the terms of the proposed assignment or sublease and shall state the consideration therefor. In such event, Lessor shall have the right to be exercised by giving written notice to Lessee within thirty (30) days after receipt of Lessee's notice, to recapture the space described in Lessee's notice and such recapture notice shall, if given, cancel and terminate this Lease with respect to the space therein described as of the date stated in Lessee's notice; provided, however, that Lessor shall not have such right to recapture if the proposed assignment is a transfer of the stock of Lessee as described in Section 10.5 hereof. Lessee's notice shall state the name and address of the proposed assignee or subtenant and a true and complete copy of the proposed assignment or sublease shall be delivered to Lessor with Lessee's notice. If Lessee's notice shall cover all of the Premises, and Lessor shall have exercised its foregoing recapture right, the term of this Lease shall expire and end on the date stated in Lessee's notice as fully and completely as if that date had been herein definitely fixed for the expiration of the term. If, however this Lease be canceled with respect to less than the entire Premises, the Base Rent and Additional Rent shall be equitably adjusted by Lessor with due consideration of the size, location, type and quality of the portion of the Premises so remaining after the "recapture" and such rent shall be reduced accordingly from and after the termination date for said portion, and this Lease as so amended shall continue thereafter in full force and effect. The rent adjustments provided for herein shall be evidenced by an amendment to Lease executed by Lessor and Lessee. If this Lease shall be terminated in the manner aforesaid, either as to the entire Premises or only a portion thereof, to such extent the term of this Lease shall end upon the appropriate effective date of the proposed sublease or assignment as if that date had been originally fixed in this Lease for such expiration, and in the event of a termination affecting less than the entire Premises, Lessee shall comply with Article 13 ("Surrender of Premises") of this Lease with respect to such portion of the Premises affected thereby.
Appears in 2 contracts
Samples: Office Lease (Exe Technologies Inc), Office Lease (Exe Technologies Inc)
PROCEDURE FOR OBTAINING LESSOR'S CONSENT. Lessee shall not, without the prior written consent of Lessor, (a) transfer, pledge, mortgage or assign this Lease or any interest hereunder; (b) permit any assignment of this Lease by voluntary act, operation of law or otherwise; (c) sublet the Premises or any part thereof; or (d) permit the use of the Premises by any parties other than Lessee, its agents and employees. Lessee shall seek such written consent of Lessor by a written request therefor, setting forth such information as Lessor may deem reasonably necessary. Lessee shall, by notice in writing, advise Lessor of its intention from, on and after a stated date (which shall not be less than thirty [(30] ) days after date of Lessee's notice), to assign this Lease or to sublet any part or all of the Premises for the balance or any part of the term. Lessee's notice shall include all of the terms of the proposed assignment or sublease and shall state the consideration therefor. In such event, Lessor shall have the right to be exercised by giving written notice to Lessee within thirty (30) days after receipt of Lessee's notice, to recapture the space described in Lessee's notice and such recapture notice shall, if given, cancel and terminate this Lease with respect to the space therein described as of the date stated in Lessee's notice; provided, however, that Lessor shall not have such right to recapture if the proposed assignment is a transfer of the stock of Lessee as described in Section SECTION 10.5 hereof. Lessee's notice shall state the name and address of the proposed assignee or subtenant and a true and complete copy of the proposed assignment or sublease shall be delivered to Lessor with Lessee's notice. If Lessee's notice shall cover all of the Premises, and Lessor shall have exercised its foregoing recapture right, the term of this Lease shall expire and end on the date stated in Lessee's notice as fully and completely as if that date had been herein definitely fixed for the expiration of the term. If, however this Lease be canceled with respect to less than the entire Premises, the Base Rent and Additional Rent shall be equitably adjusted by Lessor with due consideration of the size, location, type and quality of the portion of the Premises so remaining after the "recapture" and such rent shall be reduced accordingly from and after the termination date for said portion, and this Lease as so amended shall continue thereafter in full force and effect. The rent adjustments provided for herein shall be evidenced by an amendment to Lease executed by Lessor and Lessee. If this Lease shall be terminated in the manner aforesaid, either as to the entire Premises or only a portion thereof, to such extent the term of this Lease shall end upon the appropriate effective date of the proposed sublease or assignment as if that date had been originally fixed in this Lease for such expiration, and in the event of a termination affecting less than the entire Premises, Lessee shall comply with Article 13 ("Surrender of Premises") of this Lease with respect to such portion of the Premises affected thereby.
Appears in 1 contract
Samples: Office Lease (Exe Technologies Inc)
PROCEDURE FOR OBTAINING LESSOR'S CONSENT. Lessee shall not, without the prior written consent of Lessor, (a) transfer, pledge, mortgage or assign this Lease or any interest hereunder; (b) permit any assignment of this Lease by voluntary act, operation of law or otherwise; (c) sublet the Premises otherwise other than through merger, consolidation or any part thereofchange of form of business organization; or (dc) permit the use of the Premises by any parties other than Lessee, its agents and employees; provided, Lessee may sublease portions of the Premises without the prior written consent of Lessor (but with prompt written notice given to Lessor and a copy of such sublease) so long as Lessee is not in default of this Lease, the sublease when combined with all other subleases does not exceed 98,957 square feet, the sublease is made expressly subject to the terms and conditions of this Lease, the use of the subleased premises is consistent with Section 4.3 hereof and the sublease is approved by Lessor's mortgagee if the sublease is for more than 24,000 square feet of space or if the sublease when combined with other subleases exceeds 98,957 square feet. Lessee shall seek such any required written consent of Lessor or its mortgagee by a written request therefor, setting forth such information as Lessor or its mortgagee may deem reasonably necessary. Lessee shall, by notice in writing, advise Lessor and its mortgagee of its intention from, on and after a stated date (which shall not be less than thirty [30] days after date of Lessee's notice), to assign this Lease or to sublet any part or all of the Premises which requires the consent of Lessor or its mortgagee for the balance or any part of the term. Lessee's notice shall include all of the terms of the proposed assignment or sublease and shall state the consideration therefor. With respect to a proposed sublease, Lessee's notice shall state the name and address of the proposed subtenant and a true and complete copy of the proposed sublease together with current financial statements on the proposed assignee or sublease shall be delivered to Lessor and its mortgagee with Lessee's notice. If Lessor's mortgagee does not timely disapprove of the proposed sublease as provided in the Subordination, Attornment and Non-Disturbance Agreement (as amended, the "SNDA") between Lessor, Lessee and Lessor's mortgagee then such proposed sublease shall be deemed approved by Lessor's mortgagee. In such eventthe event of any proposed assignment by Lessee, or in the event of any proposed sublease which requires Lessor's consent, Lessor shall have the right to be exercised by giving written notice to Lessee within thirty (30) days after receipt of Lessee's notice, to recapture the space described in Lessee's notice and such recapture notice shall, if given, cancel and terminate this Lease with respect to the space therein described as of the date stated in Lessee's notice; provided, however, that Lessor shall not have such right to recapture if the proposed assignment is a transfer of the stock of Lessee as described in Section 10.5 hereof. Lessee's notice shall state the name and address of the proposed assignee or subtenant and a true and complete copy of the proposed assignment or sublease shall be delivered to Lessor with Lessee's notice. If Lessee's notice shall cover all of the Premises, and Lessor shall have exercised its foregoing recapture right, the term of this Lease shall expire and end on the date stated in Lessee's notice as fully and completely as if that date had been herein definitely fixed for the expiration of the term. If, however this Lease be canceled with respect to less than the entire Premises, the Base Rent and Additional Rent shall be equitably adjusted by Lessor with due consideration of the size, location, type and quality of the portion of the Premises so remaining after the "recapture" and such rent shall be reduced accordingly from and after the termination date for said portion, and this Lease as so amended shall continue thereafter in full force and effect. The rent adjustments provided for herein shall be evidenced by an amendment to Lease executed by Lessor and Lessee. If this Lease shall be terminated in the manner aforesaid, either as to the entire Premises or only a portion thereof, to such extent the term of this Lease shall end upon the appropriate effective date of the proposed sublease or assignment as if that date had been originally fixed in this Lease for such expiration, and in the event of a termination affecting less than the entire Premises, Lessee shall comply with Article 13 ("Surrender of Premises") of this Lease with respect to such all or any portion of the Premises affected thereby. Notwithstanding anything to the contrary in this Article 10, any request of Lessee to assign this Lease or any interest hereunder is subject to the approval of Lessor and Lessor's mortgagee, and the method of submission for approval of a sublease as provided herein and the method of approval or disapproval thereof as provided herein and/or in the SNDA is not applicable to any request for approval of any assignment of this Lease or any interest hereunder.
Appears in 1 contract
Samples: Office Lease (Exe Technologies Inc)
