Common use of SUBLETTING OR ASSIGNMENT Clause in Contracts

SUBLETTING OR ASSIGNMENT. Tenant shall not sublet the Premises or any part thereof, nor assign the Lease or any interest therein, without the prior written consent of Landlord. Such consent shall be at the sole discretion of Landlord. As a condition of assignment or sublease, Landlord may require the continued liability of Tenant or a separate personal guaranty by Tenant or its principal. If Tenant is a corporation, limited liability company, or other entity that is not a natural person, any change in ownership of more than thirty percent (30.0%) (over any period) of the ownership interest shall be deemed an assignment of the Lease. In the event an assignment or sublease is permitted, all payments from assignee or sublessee shall be made directly by said party to Landlord, and not through Tenant. Notwithstanding the foregoing, Tenant may assign or sublet all or a portion of the Premises to any subsidiary, affiliate, parent company or successor upon prior written notice thereof to Landlord but without Landlord's consent. No such permitted assignment or subletting shall relieve Tenant from its obligations under this Lease.

SUBLETTING OR ASSIGNMENT. Tenant shall not sublet the Premises or any part thereof, nor assign the Lease or any interest therein, without the prior written consent of Landlord. Such consent shall be at the sole discretion of Landlord. As a condition of assignment or sublease, Landlord may require the continued liability of Tenant or a separate personal guaranty by Tenant or its principal. If Tenant is a corporation, limited liability company, or other entity that is not a natural person, any change in ownership of more than thirty percent (30.0%) (over any period) of the ownership interest shall be deemed an assignment of the Lease. In the event an assignment or sublease is permitted, all payments from assignee or sublessee shall be made directly by said party to Landlord, and not through Tenant. Notwithstanding the foregoing, Tenant may assign or sublet all or a portion of the Premises to any subsidiary, affiliate, parent company or successor upon prior written notice thereof to Landlord but without Landlord's ’s consent. No such permitted assignment or subletting shall relieve Tenant from its obligations under this Lease.