Common use of RELEASE OF TENANT ON CERTAIN ASSIGNMENTS AND SUBLETTINGS Clause in Contracts

RELEASE OF TENANT ON CERTAIN ASSIGNMENTS AND SUBLETTINGS. Except for an assignment or subletting to a Tenant Affiliated Entity, for which express Consent is given in paragraph 9.01, in the event Tenant gives Landlord any Notice of proposed assignment of this Lease or subletting of more than 50% of the Leased Premises, then Landlord may, by Notice to Tenant, terminate this Lease by lapse of time, effective on the date specified in Landlord's termination Notice. Landlord's termination Notice under this paragraph may only be given within 30 days after Notice of the proposed assignment or subletting from Tenant, unless, within 15 days after the Notice from Tenant Landlord makes a request to Tenant for further information with which to evaluate the proposed assignee or subtenant, in which event the time within which Landlord may give Notice of termination shall be extended to 30 days after Tenant has provided the further information to Landlord. Landlord's termination Notice must specify an effective date for the termination, and if the termination Notice is given, this Lease shall come to an end by lapse of time as if the Term had always expired on the effective date of the termination, and provided Tenant has vacated the Leased Premises in accordance with the provisions of this Lease, Tenant shall be deemed to be released from any further liability or obligations of Tenant under this Lease arising from and after the date Tenant has vacated.

Appears in 2 contracts

Samples: Lease (Clayton Holdings Inc), Clayton Holdings Inc

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RELEASE OF TENANT ON CERTAIN ASSIGNMENTS AND SUBLETTINGS. Except for an assignment or subletting to a Tenant Affiliated Entity, for which express Consent consent is given in paragraph 9.01, in the event Tenant gives Landlord any Notice of proposed assignment of this Lease or subletting of more than 50% of the Leased Premises, then Landlord may, by Notice to Tenant, terminate this Lease by lapse of time, effective on the date specified in Landlord's termination Notice. Landlord's termination Notice under this paragraph may only be given within 30 days after Notice of the proposed assignment or subletting from Tenant, unless, unless within 15 days after the Notice from Tenant Landlord makes a request to Tenant for further information with which to evaluate the proposed assignee or subtenant, in which event the time within which Landlord may give Notice of termination shall be extended to 30 days after Tenant has provided the further information to Landlord. Landlord's termination Notice must specify an effective date for the termination, and if the termination Notice is given, this Lease shall come to an end by lapse of time as if the Term had always expired on the effective date of the termination, and provided Tenant has vacated the Leased Leases Premises in accordance with the provisions of this Lease, Tenant shall be deemed to be released from any further liability or obligations of Tenant under this Lease arising from and after the date Tenant has vacated.

Appears in 1 contract

Samples: Linkon Corp

RELEASE OF TENANT ON CERTAIN ASSIGNMENTS AND SUBLETTINGS. Except for an assignment or subletting to a Tenant Affiliated Entity, for which express Consent is given in paragraph 9.01, in the event Tenant gives Landlord any Notice of proposed assignment of this Lease or subletting of more than 50% of the Leased Premises, then Landlord may, by Notice to Tenant, . terminate this Lease by lapse of time, effective on the date specified in Landlord's termination Notice. Landlord's termination Notice under this paragraph may only be given within 30 days after Notice of the proposed assignment or subletting from Tenant, unless, within 15 days after the Notice from Tenant Landlord makes a request to Tenant for further information with which to evaluate the proposed assignee or subtenant, in which event the time within which Landlord may give Notice of termination shall be extended to 30 days after Tenant has provided the further information to Landlord. Landlord's termination Notice must specify an effective date for the termination, and if the termination Notice is given, this Lease shall come to an end by lapse of time as if the Term had always expired on the effective date of the termination, and provided Tenant has vacated the Leased Premises in accordance with the provisions of this Lease, . Tenant shall be deemed to be released from any further liability or obligations of Tenant under this Lease arising from and after the date Tenant has vacated.

Appears in 1 contract

Samples: Lease (Intek Information Inc)

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RELEASE OF TENANT ON CERTAIN ASSIGNMENTS AND SUBLETTINGS. Except for an assignment or subletting to a Tenant Affiliated Entity, for which express Consent is given in paragraph 9.01, in the event Tenant gives Landlord any Notice of proposed assignment of this Lease or subletting of more than 50% of the Leased Premises, then the Landlord may, by Notice to Tenant, terminate this Lease by lapse of time, effective on the date specified in Landlord's termination Notice. Landlord's termination Notice under this paragraph may only be given within 30 days after Notice of the proposed assignment or subletting from Tenant, unless, within 15 days after the Notice from Tenant Landlord makes a request to Tenant for further information with which to evaluate the proposed assignee or subtenant, in which event the time within which Landlord may give Notice of termination shall be extended to 30 days after Tenant has provided the further information to Landlord. Landlord's termination Notice must specify an effective date for the termination, and if the termination Notice is given, this Lease shall come to an end by lapse of time as if the Term had always expired on the effective date of the termination, and provided Tenant has vacated the Leased Premises in accordance with the provisions of this Lease, Tenant shall be deemed to be released from any further liability or obligations of Tenant under this Lease arising from and after the date Tenant has vacated.

Appears in 1 contract

Samples: Lease (Linkon Corp)

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