Tenant’s Interest Clause Samples

Tenant’s Interest. This Lease does not include, and Tenant shall have no leasehold or other interest in, the land on which the Building is located. Landlord, without the consent of Tenant, may sell, convey, lease or otherwise dispose of any air rights, development rights and similar rights appurtenant to the land and/or Building, provided that Tenant’s rights hereunder are not materially decreased and Tenant’s obligations hereunder are not materially increased.

Tenant’s Interest. Tenant’s interest shall be the balance of such compensation and damages after first deducting the amount of Landlord’s interest as defined in subparagraph a above; and

Tenant’s Interest. The interest of Tenant shall be the balance of such insurance proceeds after first deducting the amount of the interest of Landlord determined as set forth in Section VIII.A.2.a above.

Tenant’s Interest. In the event of a taking hereunder, Tenant shall be entitled to claim, prove and receive in the condemnation proceeding (1) the unamortized value over the Lease Term of the Tenant Improvements and trade fixtures for which Tenant actually paid without reimbursement or contribution from Landlord and any Tenant Alterations made at Tenant’s expense, less depreciation from the date of installation thereof to the date of taking, regardless of whether the improvements and alterations might be considered a part of the Demised Premises or shall be or become the property of Landlord under the terms of this Lease;

Tenant’s Interest. Tenant shall not sublet the Premises in whole or in part or grant any concession or license with respect to all or part of the Premises and shall not sell, assign, mortgage, pledge or in any manner transfer this Lease or any interest therein without in each case the consent in writing of Landlord first had and obtained, nor shall Tenant permit any transfer of Tenant's interest created hereby or allow any lien upon Tenant's interest by operation of law, nor permit the use or occupancy of the Premises or any part thereof by anyone other than Tenant. Consent by Landlord to one or more assignments or sublettings shall not operate as a waiver of Landlord's rights as to any subsequent assignments and sublettings. In the event Landlord does consent to an assignment or subletting, (i) Tenant and any guarantor of Tenant's obligations under this Lease shall remain fully liable to perform all of their respective obligations under this Lease or any such guaranty and (ii) if the rent due and payable by an assignee or a sublessee under any such permitted assignment or sublease (together with any bonus or consideration therefor or incident thereto) exceeds the Rent payable hereunder, or if any consideration is payable to Tenant by the assignee', sublessee, licensee or transferee, then Tenant agrees to pay Landlord such excess rental, bonus or other consideration within 15 days after Tenant's receipt thereof. In the event Landlord incurs any attorneys' fees, brokerage commissions, costs for redecorating the Premises or other costs or expenses in connection with any assignment or subletting, Tenant shall reimburse Landlord the full amount of such costs or expenses upon demand. If Tenant is a corporation, partnership or other entity, and if at any time during the term of this Lease the person or persons or other entity owning a majority of its shares or other equity interests entitled to voting privileges shall cease to own a minimum of 51 % of such shares or other interests, such failure shall, unless consented to in writing by Landlord, be deemed to be an assignment of Tenant's interests hereunder and an Event of Default under Article 20 hereof.

Tenant’s Interest. In the event of a taking hereunder, Tenant shall be entitled to claim, prove and receive in the condemnation proceeding (1) the unamortized value over the Lease Term of the Tenant Improvements and trade fixtures for which Tenant actually paid without reimbursement or contribution from Landlord and any Tenant Alterations made at Tenant’s expense, less depreciation from the date of installation thereof to the date of taking, regardless of whether the improvements and alterations might be considered a part of the Demised Premises or shall be or become the property of Landlord under the terms of this Lease; (2) the value of Tenant’s trade fixtures which Tenant actually paid for without reimbursement or contribution from Landlord and which are taken; (3) relocation expenses; and (4) consequential damages (excluding the value of Tenant’s leasehold estate, if any), provided such award will not reduce the award payable to Landlord. Each party shall seek its own award, as limited above, at its own expense, and neither shall have any right to the award made to the other.