Required Assignment and Subletting Provisions Sample Clauses
The Required Assignment and Subletting Provisions clause sets out the conditions under which a tenant may transfer their lease rights or sublet the leased premises to another party. Typically, this clause outlines the process for obtaining the landlord’s consent, any criteria the landlord may use to approve or deny a request, and the tenant’s ongoing responsibilities after assignment or subletting. Its core function is to balance the tenant’s flexibility to transfer their interest with the landlord’s need to control who occupies the property, thereby preventing unauthorized occupants and maintaining oversight of the premises.
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(b) the use of the applicable Store (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises or assign this Master Lease or its Sublease or otherwise Transfer any interest in any of the foregoing;
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to the effect (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into prior to the Commencement Date) that (A) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a part, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to Tenant.
Required Assignment and Subletting Provisions. Any assignment and/or sublease (including, but not limited to, any rights granted by Tenant or any of its Subsidiaries pursuant to an IRU contract, a dark fiber agreement, a dim fiber agreement or a collocation agreement) must meet the following conditions:
Required Assignment and Subletting Provisions. Any assignment and/or sublease (excluding a Specified Sublease until such Specified Sublease is amended or modified, in which case such amendment or modification shall incorporate the requirements of Section
Required Assignment and Subletting Provisions. 76 22.5 Costs. ................................................................................................................................. 76 22.6 No Release of Tenant’s Obligations; Exception. .............................................................. 77 22.7 Replacement Property Transaction. .................................................................................. 77 iii ACTIVE/103726432.5 US-DOCS\116344257.8
Required Assignment and Subletting Provisions. 28 9.5 Costs .............................................................................................................................. 28 9.6 No Release of Tenant’s Obligations ............................................................................. 28