Common use of Tenant Assignments Clause in Contracts

Tenant Assignments. Tenant may, upon prior Notice to Landlord but without Landlord’s consent, assign all (but not less than all) of its right, title and interest in this Agreement to any Affiliated Person of Tenant, provided that (i) such assignment does not violate any Legal Requirements, (ii) either (a) the Guaranty remains in effect irrespective of such assignment and the Guarantor, at the time of such assignment, is a Qualifying Guarantor, or (b) a Qualifying Guarantor delivers a replacement Guaranty to Landlord, as contemplated by the Guaranty, and (iii) the assignee assumes all obligations of Tenant hereunder. Upon Notice to Landlord from Tenant of such an assignment to an Affiliated Person of Tenant, which Notice shall include a copy of the assignment and assumption agreement, the assignor shall automatically be released from any covenants, agreements and obligations of Tenant hereunder if and to the extent accruing following the date of such assignment.

Tenant Assignments. Tenant may, upon prior Notice to Landlord but without Landlord’s consent, assign all (but not less than all) of its right, title and interest in this Agreement to any Affiliated Person of Tenant, provided that (i) such assignment does not violate any Legal Requirements, (ii) either (a) the Guaranty remains in effect irrespective of such 38 assignment and the Guarantor, at the time of such assignment, is a Qualifying Guarantor, or (b) a Qualifying Guarantor delivers a replacement Guaranty to Landlord, as contemplated by the Guaranty, and (iii) the assignee assumes all obligations of Tenant hereunder. Upon Notice to Landlord from Tenant of such an assignment to an Affiliated Person of Tenant, which Notice shall include a copy of the assignment and assumption agreement, the assignor shall automatically be released from any covenants, agreements and obligations of Tenant hereunder if and to the extent accruing following the date of such assignment.