Common use of SUBSEQUENT ASSIGNMENTS Clause in Contracts

SUBSEQUENT ASSIGNMENTS. Regardless of any conditions or limitations upon the assignability of this Ground Lease, any Ground Leasehold Mortgage may be foreclosed and any Mortgagee who acquires the Tenant’s rights under this Ground Lease, or any Person acquiring this Ground Lease at any foreclosure, trustee’s sale, sheriff’s sale, or similar proceeding or by assignment in lieu thereof, shall have the right to assign this Ground Lease to any third party without the District’s consent, provided that such third party (i) intends to use the Project Site for the purposes permitted in this Ground Lease, which purposes are legal and do not conflict with a prior, enforceable, exclusive use covenant or agreement to which the District is a party, and (ii) such third party can reasonably demonstrate its financial capacity to meet the Tenant’s obligations under this Ground Lease.

SUBSEQUENT ASSIGNMENTS. Regardless of any conditions or limitations upon the assignability of this Ground Lease, any Ground Leasehold Mortgage may be foreclosed and any Mortgagee who acquires the Tenant’s 's rights under this Ground Lease, or any Person acquiring this Ground Lease at any foreclosure, trustee’s 's sale, sheriff’s 's sale, or similar proceeding or by assignment in lieu thereof, shall have the right to assign this Ground Lease to any third party without the District’s 's consent, provided that such third party (i) intends to use the Project Site for the purposes permitted in this Ground Lease, which purposes are legal and do not conflict with a prior, enforceable, exclusive use covenant or agreement to which the District is a party, and (ii) such third party can reasonably demonstrate its financial capacity to meet the Tenant’s 's obligations under this Ground Lease.