Rights of Tenant. (a) Tenant may not sell, assign, transfer, or hypothecate this Lease or any interest herein (either voluntarily or by operation of law, and including, if Tenant is a corporation, partnership or limited liability company, the sale or transfer of a controlling interest in Tenant), or sublet the Premises or any part thereof without the prior written consent of Landlord. If Tenant should desire to assign this Lease or sublet the Premises or any portion thereof and provided that there is not then a material monetary or non-monetary Default hereunder, Tenant shall give Landlord written notice which notice shall identify the portion of the Premises Tenant desires to assign or sublet, the date of the availability of such portion of the Premises and the intended term of any sublease ("Initial Notice Tenant shall provide Landlord such notice (x) no more than nine (9) months and no less than six (6) months before Tenant intends to sublet or assign a portion of the Premises equal to or less than two floors or (y) no more than fifteen (15) months and no less than twelve (12) months before. Tenant intends to sublet or assign a portion of the Premises that is more than two floors. Landlord shall then have a period of thirty 30) days following receipt of such notice within which to notify Tenant in writing that Landlord elects: (1) to recapture the space so affected as of the date specified by Tenant in its notice, in which event this Lease shall be terminated as to such space for a period equal to the term identified in the Initial Notice; or (2) to permit Tenant to assign or sublet such space, subject, however, to the subsequent written approval by Landlord of the instrument of assignment or sublease provided to Landlord. Once Landlord has agreed in concept to Tenant's assignment or subletting of the Premises or a portion thereof, Tenant shall be required to submit to Landlord, for Landlord's approval, the proposed assignee or sublessee and sublease or assignment, Landlord shall have five (5) Business Days to approve or disapprove of the proposed assignee or sublessee and the form of agreement. In the event that Landlord elects to permit Tenant to assign or sublet such space within the specified period described in clauses (x) and (y) above, then Tenant shall so notify Landlord and, Landlord shall have another opportunity to elect to recapture and terminate this Lease with respect to the space, provided Landlord so notifies Tenant within ten (10) days from Tenant's notice of the expiration of said specified period. In the event that Landlord does not recapture the space in accordance with the previous sentence and Tenant desires thereafter to sublet or assign the space, then Tenant shall again commence the process for Landlord approval of such assignment or sublease set forth in this Section (a). (b) In the event Landlord elects to terminate this Lease with respect to subleased space pursuant to Section 15.01(a)(1) for a period equal to the ------------------- term identified in the Initial Notice, Tenant shall have the right. to renew the Lease pursuant to Article 3 of this Lease. Tenant may renew such terminated --------- space for the second Renewal Term only if Tenant renewed such terminated space for the first Renewal Term. (c) Except as may be otherwise expressly set forth to the contrary, no assignment or subletting by Tenant shall relieve Tenant of Tenant's obligations under this Lease. Any attempted assignment or sublease by Tenant in Violation of the terms and provisions of this Section 15.01 shall be void. (d) For the purposes of this Section 15.01, the following shall be deemed an assignment of this Lease: (1) If Tenant is a corporation, the stock of which is not listed on a "National securities exchange" (as defined in the Securities Act of 1934), then the sale, issuance or transfer (whether cumulatively or in a single transaction), of stock by Tenant or the shareholders of record, as of the date hereof, the result of which either changes or makes possible the change in the voting control of Tenant; and (2) If Tenant is a Joint venture, partnership, limited liability company or other association (collectively referred to as the "Partnership"), the sale, issuance or transfer (whether cumulatively or in a single transaction) of ownership of the entity the result of which changes the management of the entity or the voting control of the entity. (e) Landlord's consent under this Section 15.01(a) to a sublease or ---------------- assignment will not be unreasonably withheld, conditioned or delayed provided all of the following conditions have been satisfied: (i) the sublease or assignment has provisions that satisfy Section 15.03 hereof; and ------------- (ii) the entity, organization, or individual to which such space is proposed to be sublet or assigned is not of a type that would be an undesirable tenant in a first-class office complex in Fair Lakes or would violate a reasonable noncompete clause entered into by Landlord and of which Landlord has provided Tenant written notice
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Samples: Office Lease Agreement (Sra International Inc), Office Lease Agreement (Sra International Inc)
Rights of Tenant. (a) Tenant may not sell, assign, transfer, or hypothecate this Lease or any interest herein (either voluntarily or by operation of law, and including, if Tenant is a corporation, partnership or limited liability company, the sale or transfer of a controlling interest in Tenant), or sublet the Premises or any part thereof without the prior written consent of Landlord. If Tenant should desire to assign this Lease or sublet the Premises (or any portion thereof part thereof) and provided that there Tenant is not then a material monetary or non-monetary Default in default hereunder, Tenant shall give Landlord written notice which notice shall identify the portion at least thirty (30) days in advance of the Premises date on which Tenant desires to assign make such assignment or sublet, the date of the availability of such portion of the Premises and the intended term of any sublease ("Initial Notice Tenant shall provide Landlord such notice (x) no more than nine (9) months and no less than six (6) months before Tenant intends to sublet or assign a portion of the Premises equal to or less than two floors or (y) no more than fifteen (15) months and no less than twelve (12) months before. Tenant intends to sublet or assign a portion of the Premises that is more than two floorssublease. Landlord shall then have a period of thirty 30fifteen (15) days following receipt of such notice within which to notify Tenant in writing that Landlord elects:
(1) if Tenant desires to recapture assign or sublease certain space for the remainder of the Term, to terminate this Lease as to the space so affected as of the date specified by Tenant in its notice, in which event Tenant, subject to the provisions of this Lease which expressly survive the termination hereof, shall be terminated relieved of all further obligations hereunder as to such space for a period equal to the term identified in the Initial Noticespace; or
(2) to permit Tenant to assign or sublet such space, subject, however, to the subsequent written approval by Landlord of the instrument of assignment or sublease provided as to form and substance and of the proposed assignee or subtenant; or
(3) to refuse, in Landlord. Once Landlord has agreed in concept 's sole discretion, to consent to Tenant's assignment or subletting subleasing of such space and to continue this Lease in full force and effect as to the Premises or a portion thereof, entire Premises. If Landlord should fail to notify Tenant shall be required to submit to Landlord, for Landlord's approval, the proposed assignee or sublessee and sublease or assignmentin writing of such election within such fifteen (15) day period, Landlord shall be deemed to have five elected option (5) Business Days to approve or disapprove of the proposed assignee or sublessee and the form of agreement. In the event that Landlord elects to permit Tenant to assign or sublet such space within the specified period described in clauses (x) and (y2) above, then Tenant shall so notify Landlord and, Landlord shall have another opportunity to elect to recapture and terminate this Lease with respect to the space, provided Landlord so notifies Tenant within ten (10) days from Tenant's notice of the expiration of said specified period. In the event that Landlord does not recapture the space in accordance with the previous sentence and Tenant desires thereafter to sublet or assign the space, then Tenant shall again commence the process for Landlord approval of such assignment or sublease set forth in this Section (a).
(b) In the event Landlord elects to terminate this Lease with respect to subleased space pursuant to Section 15.01(a)(1) for a period equal to the ------------------- term identified in the Initial Notice, Tenant shall have the right. to renew the Lease pursuant to Article 3 of this Lease. Tenant may renew such terminated --------- space for the second Renewal Term only if Tenant renewed such terminated space for the first Renewal Term.
(c) Except as may be otherwise expressly set forth to the contrary, no assignment or subletting by Tenant shall relieve Tenant of Tenant's obligations under this Lease. Any attempted assignment or sublease by Tenant in Violation violation of the terms and provisions of this Section SECTION 15.01 shall be void.
(dc) For the purposes of this Section SECTION 15.01, the following shall be deemed an assignment of this Lease:
(1) If Tenant is a corporation, the stock of which is not listed on a "National securities exchange" (as defined in the Securities Act of 1934), then the sale, issuance or transfer (whether cumulatively or in a single transaction), of stock by Tenant or the shareholders of record, as of the date hereof, the result of which either changes or makes possible the change in the voting control of Tenant; and
(2) If Tenant is a Joint venture, partnership, limited liability company or other association (collectively referred to as the "Partnership"), the sale, issuance or transfer (whether cumulatively or in a single transaction) of ownership of the entity the result of which changes the management of the entity or the voting control of the entity.
(e) Landlord's consent under this Section 15.01(a) to a sublease or ---------------- assignment will not be unreasonably withheld, conditioned or delayed provided all of the following conditions have been satisfied:
(i) the sublease or assignment has provisions that satisfy Section 15.03 hereof; and -------------
(ii) the entity, organization, or individual to which such space is proposed to be sublet or assigned is not of a type that would be an undesirable tenant in a first-class office complex in Fair Lakes or would violate a reasonable noncompete clause entered into by Landlord and of which Landlord has provided Tenant written notice
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Rights of Tenant. (a) Tenant may not sell, assign, transfer, or hypothecate this Lease or any interest herein (either voluntarily or by operation of law, and including, if Tenant is a corporation, partnership or limited liability company, the sale or transfer of a controlling interest in Tenant), or sublet the Premises or any part thereof without the prior written consent of Landlord. If Tenant should desire to assign this Lease or sublet the Premises (or any portion thereof part thereof) and provided that there Tenant is not then a material monetary or non-monetary Default in default hereunder, Tenant shall give Landlord written notice which notice shall identify the portion at least thirty (30) days in advance of the Premises date on which Tenant desires to assign make such assignment or sublet, the date of the availability of such portion of the Premises and the intended term of any sublease ("Initial Notice Tenant shall provide Landlord such notice (x) no more than nine (9) months and no less than six (6) months before Tenant intends to sublet or assign a portion of the Premises equal to or less than two floors or (y) no more than fifteen (15) months and no less than twelve (12) months before. Tenant intends to sublet or assign a portion of the Premises that is more than two floorssublease. Landlord shall then have a period of thirty 30fifteen (15) days following receipt of such notice within which to notify Tenant in writing that Landlord elects:
(1) if Tenant desires to recapture assign or sublease certain space for the remainder of the Term, to terminate this Lease as to the space so affected as of the date specified by Tenant in its notice, in which event Tenant, subject to the provisions of this Lease which expressly survive the termination hereof, shall be terminated relieved of all further obligations hereunder as to such space for a period equal to the term identified in the Initial Noticespace; or
(2) to permit Tenant to assign or sublet such space, subject, however, to the subsequent written approval by Landlord of the instrument of assignment or sublease provided as to form and substance and of the proposed assignee or subtenant; or
(3) to refuse, in Landlord. Once Landlord has agreed in concept 's sole discretion, to consent to Tenant's assignment or subletting subleasing of such space and to continue this Lease in full force and effect as to the Premises or a portion thereof, entire Premises. If Landlord should fail to notify Tenant shall be required to submit to Landlord, for Landlord's approval, the proposed assignee or sublessee and sublease or assignmentin writing of such election within such fifteen (15) day period, Landlord shall be deemed to have five elected option (5) Business Days to approve or disapprove of the proposed assignee or sublessee and the form of agreement. In the event that Landlord elects to permit Tenant to assign or sublet such space within the specified period described in clauses (x) and (y2) above, then Tenant shall so notify Landlord and, Landlord shall have another opportunity to elect to recapture and terminate this Lease with respect to the space, provided Landlord so notifies Tenant within ten (10) days from Tenant's notice of the expiration of said specified period. In the event that Landlord does not recapture the space in accordance with the previous sentence and Tenant desires thereafter to sublet or assign the space, then Tenant shall again commence the process for Landlord approval of such assignment or sublease set forth in this Section (a).
(b) In the event Landlord elects to terminate this Lease with respect to subleased space pursuant to Section 15.01(a)(1) for a period equal to the ------------------- term identified in the Initial Notice, Tenant shall have the right. to renew the Lease pursuant to Article 3 of this Lease. Tenant may renew such terminated --------- space for the second Renewal Term only if Tenant renewed such terminated space for the first Renewal Term.
(c) Except as may be otherwise expressly set forth to the contrary, no assignment or subletting by Tenant shall relieve Tenant of Tenant's obligations under this Lease. Any attempted assignment or sublease by Tenant in Violation violation of the terms and provisions of this Section SECTION 15.01 shall be void.. Any consent by Landlord (or deemed consent) to any assignment, subletting, hypothecation or other transfer shall not constitute a waiver of the necessity for obtaining Landlord's consent to any subsequent assignment, subletting, hypothecation or other transfer
(dc) For the purposes of this Section SECTION 15.01, the following shall be deemed an assignment of this Lease:.
(1) If Tenant is a corporation, the stock of which is not listed on a "National national securities exchange" (as defined in the Securities Act of 1934), then the sale, issuance or transfer (whether cumulatively or in a single transaction), of stock by Tenant or the shareholders of record, as of the date hereof, the result of which either changes or makes possible the change in the voting control of Tenant; and
(2) If Tenant is a Joint joint venture, partnership, limited liability company or other association (collectively referred to as the "PartnershipPARTNERSHIP"), the sale, issuance or transfer (whether cumulatively or in a single transaction) of ownership of the entity the result of which changes the management of the entity or the voting control of the entity.
(ed) Landlord's consent under this Section 15.01(a) to a an assignment or sublease or ---------------- assignment will shall not be unreasonably withheld, conditioned or delayed delayed, provided all of the following conditions have been satisfied:
(i1) if a sublease, the sublease or assignment has must have provisions that which satisfy Section 15.03 subparagraph (e) hereof; and -------------;
(ii2) the entity, organization, or individual to which such space is proposed to be sublet or assigned is of a type similar to the existing tenants in Fair Lakes, is not of a type that would be an undesirable tenant in a first-class office complex in Fair Lakes, or is of a type that because of its controversial or unsavory nature, might bring undue notoriety or disruption to the Building;
(3) if an assignment, the entity to which Tenant desires to assign has financial credit that is equal to or greater than that of Tenant on the Effective Date in Landlord's sole discretion;
(4) the entity to which Tenant desires to sublease is not then a tenant in the Building and is not then in negotiations with Landlord for the lease of space in the Building; and
(5) the assignment or sublease will not violate any exclusive or restriction in any other lease of space in Fair Lakes or would violate a reasonable noncompete clause entered into by Landlord or its Affiliates (as defined in SECTION 15.04).
(e) A sublease of portions of the Premises, must include (or shall be deemed to include) provisions stating that it is subject and subordinate to this Lease and to the matters to which this Lease is or shall be subordinate, and that in the event of the termination of this Lease, or the re-entry or dispossession of Tenant by Landlord under this Lease, Landlord, at its option, may either terminate the sublease, in which case the subtenant shall peacefully vacate the premises sublet, or, require the subtenant to attorn to Landlord has provided as its sublessor pursuant to the then applicable terms of such sublease for the remaining term thereof, except that Landlord shall not be (i) liable for any previous act or omission of Tenant written noticeas sublessor under such sublease, (ii) subject to any offset which theretofore accrued to such subtenant against Tenant, or (iii) bound by any previous modification of such sublease not consented to in writing by Landlord or by a previous prepayment of rent more than one month in advance. A sublease also must provide that all Rent payments to be made by the subtenant must be made through Tenant and not directly by subtenant to Landlord.
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Rights of Tenant. (a) Tenant may not sell, assign, transfer, or hypothecate this Lease or any interest herein (either voluntarily or by operation of law, and including, if Tenant is a corporation, partnership or limited liability company, the sale or transfer of a controlling interest in Tenant), or sublet the Premises or any part thereof without the prior written consent of Landlord. If Tenant should desire to assign this Lease or sublet the Premises (or any portion thereof part thereof) and provided that there Tenant is not then a material monetary or non-monetary Default in default hereunder, Tenant shall give Landlord written notice which notice shall identify the portion at least thirty (30) days in advance of the Premises date on which Tenant desires to assign make such assignment or sublet, the date of the availability of such portion of the Premises and the intended term of any sublease ("Initial Notice Tenant shall provide Landlord such notice (x) no more than nine (9) months and no less than six (6) months before Tenant intends to sublet or assign a portion of the Premises equal to or less than two floors or (y) no more than fifteen (15) months and no less than twelve (12) months before. Tenant intends to sublet or assign a portion of the Premises that is more than two floorssublease. Landlord shall then have a period of thirty 30fifteen (15) days following receipt of such notice within which to notify Tenant in writing that Landlord elects:
(1) if Tenant desires to recapture assign or sublease certain space for the remainder of the Term, to terminate this Lease as to the space so affected as of the date specified by Tenant in its notice, in which event Tenant, subject to the provisions of this Lease which expressly survive the termination hereof, shall be terminated relieved of all further obligations hereunder as to such space for a period equal to the term identified in the Initial Noticespace; or
(2) to permit Tenant to assign or sublet such space, subject, however, to the subsequent written approval by Landlord of the instrument of assignment or sublease provided as to form and substance and of the proposed assignee or subtenant; or
(3) to refuse, in Landlord. Once Landlord has agreed in concept 's sole discretion, to consent to Tenant's assignment or subletting subleasing of such space and to continue this Lease in full force and effect as to the Premises or a portion thereof, entire Premises. If Landlord should fail to notify Tenant shall be required to submit to Landlord, for Landlord's approval, the proposed assignee or sublessee and sublease or assignmentin writing of such election within such fifteen (15) day period, Landlord shall be deemed to have five elected option (5) Business Days to approve or disapprove of the proposed assignee or sublessee and the form of agreement. In the event that Landlord elects to permit Tenant to assign or sublet such space within the specified period described in clauses (x) and (y2) above, then Tenant shall so notify Landlord and, Landlord shall have another opportunity to elect to recapture and terminate this Lease with respect to the space, provided Landlord so notifies Tenant within ten (10) days from Tenant's notice of the expiration of said specified period. In the event that Landlord does not recapture the space in accordance with the previous sentence and Tenant desires thereafter to sublet or assign the space, then Tenant shall again commence the process for Landlord approval of such assignment or sublease set forth in this Section (a).
(b) In the event Landlord elects to terminate this Lease with respect to subleased space pursuant to Section 15.01(a)(1) for a period equal to the ------------------- term identified in the Initial Notice, Tenant shall have the right. to renew the Lease pursuant to Article 3 of this Lease. Tenant may renew such terminated --------- space for the second Renewal Term only if Tenant renewed such terminated space for the first Renewal Term.
(c) Except as may be otherwise expressly set forth to the contrary, no assignment or subletting by Tenant shall relieve Tenant of Tenant's obligations under this Lease. Any attempted assignment or sublease by Tenant in Violation violation of the terms and provisions of this Section SECTION 15.01 shall be void.
(dc) For the purposes of this Section SECTION 15.01, the following shall be deemed an assignment of this Lease:.
(1) If Tenant is a corporation, the stock of which is not listed on a "National national securities exchange" (as defined in the Securities Act of 1934), then the sale, issuance or transfer (whether cumulatively or in a single transaction), of stock by Tenant or the shareholders of record, as of the date hereof, the result of which either changes or makes possible the change in the voting control of Tenant; and
(2) If Tenant is a Joint joint venture, partnership, limited liability company or other association (collectively referred to as the "PartnershipPARTNERSHIP"), the sale, issuance or transfer (whether cumulatively or in a single transaction) of ownership of the entity the result of which changes the management of the entity or the voting control of the entity.
(ed) Landlord's consent under this Section 15.01(a) to a an assignment or sublease or ---------------- assignment will shall not be unreasonably withheld, conditioned or delayed delayed, provided all of the following conditions have been satisfied:
(i1) if a sublease, the sublease or assignment has must have provisions that which satisfy Section 15.03 subparagraph (e) hereof; and -------------;
(ii2) the entity, organization, or individual to which such space is proposed to be sublet or assigned is of a type similar to the existing tenants in Fair Lakes, is not of a type that would be an undesirable tenant in a first-class office complex in Fair Lakes, or is of a type that because of its controversial or unsavory nature, might bring undue notoriety or disruption to the Building;
(3) if an assignment, the entity to which Tenant desires to assign has financial credit that is equal to or greater than that of Tenant on the Effective Date in Landlord's sole discretion;
(4) the entity to which Tenant desires to sublease is not then a tenant in the Building and is not then in negotiations with Landlord for the lease of space in the Building; and
(5) the assignment or sublease will not violate any exclusive or restriction in any other lease of space in Fair Lakes or would violate a reasonable noncompete clause entered into by Landlord or its Affiliates (as defined in SECTION 15.04).
(e) A sublease of portions of the Premises, must include (or shall be deemed to include) provisions stating that it is subject and subordinate to this Lease and to the matters to which this Lease is or shall be subordinate, and that in the event of the termination of this Lease, or the re-entry or dispossession of Tenant by Landlord under this Lease, Landlord, at its option, may either terminate the sublease, in which case the subtenant shall peacefully vacate the premises sublet, or, require the subtenant to attorn to Landlord has provided as its sublessor pursuant to the then applicable terms of such sublease for the remaining term thereof, except that Landlord shall not be (i) liable for any previous act or omission of Tenant written noticeas sublessor under such sublease, (ii) subject to any offset which theretofore accrued to such subtenant against Tenant, or (iii) bound by any previous modification of such sublease not consented to in writing by Landlord or by a previous prepayment of rent more than one month in advance. A sublease also must provide that all Rent payments to be made by the subtenant must be made through Tenant and not directly by subtenant to Landlord.
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