Standard of Consent to Transfer. Landlord agrees that, subject to the provisions of this Article 6, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer provided that no Event of Default exists. It shall be reasonable for Landlord to withhold its consent to a Transfer (a) if the Transferee will not use the Premises for the Permitted Uses, or (b) if, in Landlord’s reasonable opinion: the Transferee (i) does not have a tangible net worth determined in accordance with generally accepted accounting principles and other financial indicators sufficient to meet the Transferee’s obligations under the Transfer instrument in question (but in no event less than the tangible net worth of Tenant as of the date of this Lease or the date immediately preceding the Transfer, whichever is greater); (ii) does not have a business reputation compatible with the operation of a first-class combination laboratory, research, development and office building; and/or (c) intends to use the space subject to the Transfer for a use that violates any exclusive or restrictive use provisions then in effect with respect to space in the Lot.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same, or if the Transfer in question relates to fifty percent (50%) or less of the Premises, then Landlord agrees that, subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer (on the terms contained in the Recapture Notice, if applicable) to an entity which will use the Premises for the Permitted Uses and, in Landlord’s reasonable opinion: (a) has a tangible net worth and other financial indicators sufficient to meet the Transferee’s obligations under the Transfer instrument in question; (b) has a business reputation compatible with the operation of a first-class combination office and retail building; and (c) the intended use of such entity does not violate any exclusive or restrictive use provisions of any leases then in effect with respect to space in the Property.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same, then Landlord agrees that, subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer on the terms contained in the Recapture Notice to an entity which will use the Premises for the Permitted Uses and: (a) with respect to any assignment of this Lease or a sublet of all or substantially all of the Premises, has a tangible net worth and other financial indicators at least equal to Tenant’s as of the date of the Recapture Notice; and (b) has a business reputation compatible with the operation of a first-class combination laboratory, research, development and office building and in any event, shall grant or deny such consent within fifteen (15) business days after Xxxxxx’s request for such consent.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same, then Landlord agrees that, subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer on the terms contained in the Recapture Notice to an entity which will use the Premises for the Permitted Uses and: (a) with respect to any assignment of this Lease or a sublet of all or substantially all of the Premises, has a tangible net worth and other financial indicators at least equal to Tenant’s as of the date of the Recapture Notice (or, if Tenant or any Unconditional Guarantor of this Lease is a publicly traded entity on a nationally recognized stock exchange, at least sufficient to meet such assignee or sublessee’s obligations under this Lease or such sublease, as applicable); and (b) has a business reputation compatible with the operation of a first-class combination laboratory, research, development and office building and in any event, shall grant or deny such consent within fifteen (15) business days after Tenant’s request for such consent.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same, then Landlord agrees that, subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer of the Recapture Premises for the Recapture Period to an entity which will use the Premises for the Permitted Uses and, in Landlord’s reasonable opinion: (a) has a tangible net worth and other financial indicators sufficient to meet the Transferee’s obligations under the Transfer instrument in question; (b) has a business reputation compatible with the operation of a first-class combination laboratory, research, development and office building; and (c) the intended use of such entity does not violate any restrictive use provisions then in effect with respect to space in the Building.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same (or in the case of a sublease for which Tenant is not required to deliver a Recapture Notice, as set forth in Section 13.2(a) above), then Landlord agrees that, subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer on the terms contained in the Recapture Notice to an entity which will use the Premises for the Permitted Uses and, in Landlord's reasonable opinion: (a) has a tangible net worth and other financial indicators sufficient to meet the Transferee’s obligations under the Transfer instrument in question; (b) has a business reputation compatible with the operation of a first-class combination laboratory, research, development and office building; and (c) the intended use of such entity does not violate any restrictive use provisions then in effect with respect to space in the Building.
Standard of Consent to Transfer. Subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer to a person or entity which will use the Premises for the Permitted Uses and, in Landlord’s reasonable opinion: (a) has a tangible net worth and other financial indicators sufficient to meet the transferee’s obligations under the Transfer instrument in question; (b) has a business reputation compatible with the operation of a first-class combination laboratory, research, development and office building; and (c) the intended use of such entity does not violate any restrictive use provisions then in effect with respect to the Building. When the consent of Landlord is required, consent shall be given within twenty-five (25) days from the date of Landlord’s receipt from Tenant of: (i) Tenant’s written request for consent and (ii) all information reasonably required by Landlord to make a decision regarding such Transfer Request (collectively, the “Transfer Request”). Tenant shall reimburse Landlord for all reasonable out-of-pocket expenses, as set forth in Section 25.7, incurred by Landlord in reviewing the Transfer Request. If Landlord fails to grant its consent or if consent is not affirmatively withheld for a good reason within such twenty-five (25) day period, then Tenant shall have the right to give Landlord a reminder notice specifically identifying the provisions of Section 13.3 and advising Landlord, IN PROMINENT BOLD TYPE, of the effect of Landlord’s failure timely to respond to such reminder notice. If Landlord does not respond in writing to such reminder notice within five (5) business days after Landlord’s receipt of such reminder notice, then Landlord shall be conclusively deemed to have consented to such Transfer Request.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same, then Landlord agrees that, subject to Xxxxxxxx's receipt of an original agreement executed by Guarantor in form and substance reasonably acceptable to Landlord whereby Guarantor agrees that the obligations of Guarantor under the Guaranty shall extend and apply notwithstanding such Transfer, and also subject to the provisions of this Article 9, Landlord will not unreasonably withhold, condition or delay its consent to a Transfer at fair market rent and otherwise on the terms contained in the Recapture Notice to an entity which will use the Premises fore the Permitted Uses and, in Landlord's reasonable opinion: (a) has a net worth and other financial indicators sufficient to meet Xxxxxx's obligations hereunder; and (b) has a business reputation compatible with the operation of a first class residential and retail building.
Standard of Consent to Transfer. If Landlord does not timely give written notice to Tenant accepting a Recapture Offer or declines to accept the same, or Tenant is not obligated to give a Recapture Offer then Landlord agrees that, subject to the provisions of this Section 13, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer to an entity which will use the Premises for the Permitted Uses and, in Landlord’s reasonable opinion: (a) has the financial wherewithal to meet the obligations of such Transferee under the Transfer document(s), taking into account Tenant’s continuing liability hereunder; and (b) does not have a business reputation incompatible with the operation of a first-class combination office and laboratory building. Landlord agrees to respond to any request for consent to a Transfer within ten (10) business days after receipt of all information required hereunder.
Standard of Consent to Transfer. Subject to Landlord’s rights set forth in Section 11.2 to terminate the Lease or suspend the Term, Landlord agrees that, subject to the provisions of this Article 11, Landlord shall not unreasonably withhold, condition or delay its consent to a Transfer at fair market rent and otherwise on the terms contained in the Recapture Notice. It shall be reasonable for Landlord to withhold its consent to a Transfer (a) if the proposed assignee or sublessee, as the case may be (a “Transferee”) will not use the Premises for the Permitted Uses, or (b) if, in Landlord’s reasonable opinion: the Transferee (i) does not have a tangible net worth and other financial indicators sufficient to meet the Transferee’s obligations under the Transfer instrument in question; (ii) does not have a business reputation compatible with the operation of a first-class office building or the tenant mix Landlord desires for the Building; and/or (c) intends to use the space subject to the Transfer for a use that violates any exclusive or restrictive use provisions then in effect with respect to any portion of the Property.
