Common use of Right to Assign, Sublease and Encumber Clause in Contracts

Right to Assign, Sublease and Encumber. Landlord and Tenant recognize and specifically agree that this Article 11 is an economic provision, like Rent, and that Landlord’s right to recapture and to share in profits is granted by Tenant to Landlord in consideration of certain other economic concessions granted by Landlord to Tenant. Tenant may voluntarily assign or encumber its interest in this Lease or in the Premises or sublease all or any part of the Premises, or allow any other person or entity to occupy or use all or any part of the Premises, or allow any other person or entity to occupy or use all or any part of the Premises, upon first obtaining Landlord’s prior consent (which consent shall not be unreasonably withheld or delayed). But only if such assignment or sublease does not conflict with or result in a breach of ARTICLE 5. Any assignment, encumbrance or sublease without Landlord’s prior consent shall be voidable, at Landlord’s election, and shall, at Landlord’s further election, constitute a default. No consent sent to an assignment, encumbrance, or sublease shall constitute a further waiver of the provisions of this ARTICLE 11.

Right to Assign, Sublease and Encumber. Landlord and Tenant recognize and specifically agree that this Article 11 IX is an economic provision, like Rent, and that Landlord’s 's right to recapture recapture, and to share in profits is receive any excess consideration, has been granted by Tenant to Landlord in consideration of certain for other economic concessions granted by Landlord to TenantTenant in this Lease. Except as expressly provided in Section 9.12 below, Tenant may voluntarily not assign or encumber its interest in this Lease or in the Premises Premises, or sublease all or any part of the Premises, or allow any other person or entity to occupy or use all or any part of the PremisesPremises (any such assignment, encumbrance, sublease, or allow any other person or entity the like shall sometimes be referred to occupy or use all or any part of the Premisesherein as a "Transfer"), upon without first obtaining Landlord’s 's prior consent (written consent, which consent shall Landlord will not be unreasonably withheld or delayed). But only if such assignment or sublease does not conflict with or result in a breach of ARTICLE 5withhold. Any assignment, encumbrance or sublease Transfer without Landlord’s 's prior written prior consent shall be voidable, at Landlord’s 's election, and shall, at Landlord’s further election, shall constitute a defaultan Event of Default under Article XIX. No consent sent to an assignment, encumbrance, or sublease any Transfer shall constitute a further waiver of the provisions of this ARTICLE 11Section.

Right to Assign, Sublease and Encumber. Landlord and Tenant --------------------------------------- recognize and specifically agree that this Article 11 is Section 21.01 is, in part, an economic provision, like Rent, and that the Landlord’s 's right to recapture recapture, and to share in profits is excess Base Rent, was granted by Tenant to Landlord in consideration of certain other economic concessions granted by Landlord to Tenant. Tenant may voluntarily assign or encumber its interest in this Lease or in the Premises Premises, or sublease all or any part of the Premises, or allow any other person or entity to occupy or use all or any part of the Premisespremises, or allow any other person or entity to occupy or use all or any part of the Premises, upon complying with Section 21.02 and first obtaining Landlord’s 's prior consent (which consent shall not be unreasonably withheld or delayed). But only if such assignment or sublease does not conflict with or result in a breach of ARTICLE 5written consent. Any assignment, encumbrance or sublease without Landlord’s 's prior written consent shall be voidable, at Landlord’s 's election, and shall, at Landlord’s further election, shall constitute a default. No consent sent to an assignment, encumbrance, or sublease shall constitute a further waiver of the provisions of this ARTICLE 11Section. Tenant hereby agrees to use Landlord's sublease and/or Assignment form.

Right to Assign, Sublease and Encumber. Landlord and Tenant recognize and specifically agree that this Article 11 IX is an economic provision, like Rent, and that Landlord’s 's right to recapture recapture, and to share in profits is receive any excess consideration, has been granted by Tenant to Landlord in consideration of certain for other economic concessions granted by Landlord to TenantTenant in this Lease. Except as expressly set forth in this Article IX, Tenant may voluntarily not assign or encumber its interest in this Lease or in the Premises Premises, or sublease all or any part of the Premises, or allow any other person or entity to occupy or use all or any part of the PremisesPremises (any such assignment, encumbrance, sublease, or allow any other person or entity the like shall sometimes be referred to occupy or use all or any part of the Premisesherein as a "Transfer"), upon without first obtaining Landlord’s 's prior consent (written consent, which consent shall Landlord will not be unreasonably withheld withhold or delayed). But only if such assignment delay; provided, however, that a merger, sale of business, acquisition or sublease does similar transaction involving Tenant will not conflict with or result in constitute a breach Transfer for purposes of ARTICLE 5this Article IX. Any assignment, encumbrance or sublease Transfer without Landlord’s 's prior written prior consent shall be voidable, at Landlord’s 's election, and shall, at Landlord’s further election, shall constitute a defaultan Event of Default under Article XIX. No consent sent to an assignment, encumbrance, or sublease any Transfer shall constitute a further waiver of the provisions of this ARTICLE 11Section.