Transfer of Premises. If the Owner voluntarily transfers the Premises, Tenant has the right to enforce this Agreement against the grantee of the Premises if Tenant’s occupancy under this agreement is to end 180 days or less after the grantee’s interest in the Premises is recorded. If Tenants occupancy is to end more than 180 days after such recordation, Tenant has no right to enforce the terms of this Agreement unless the grantee agrees in writing to honor this Agreement. If the grantee does not honor this Agreement, Tenant is entitled to a refund of all advance rent paid by Tenant (and other fees owed to third parties not already lawfully disbursed). Within 10 days after transfer of the Premises, the grantee or the grantee’s agent is required to : (i) notify Tenant in writing of the transfer of the Premises, the grantee’s name and address, and the date the grantee’s interest was recorded; and (ii) advise Tenant whether Tenant has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payment made by Tenant. Upon termination of Owner’s interest in the Premises, whether by sale, assignment, death, appointment of receiver or otherwise, the Owner, Owner’s agent, or real estate agent is required to transfer all advanced rent paid by Tenant (and other fees owed to third parties not already lawfully disbursed) to the Owner’s successor-in-interest within 30 days, and notify Tenant by mail of such transfer and of the transferee’s name and address. However, if Tenant’s occupancy under this agreement is to end more than 180 days after recordation of the interest of the Owner’s successor-in-interest in the Premises, and the successor-in-interest has not agreed to honor this Agreement, all advanced rent paid by Tenant (and other fees owed to third parties not already lawfully disbursed) must be transferred to Tenant within 30 days. If the Owner’s interest in the Premises is involuntarily transferred prior to Tenant’s occupancy of the Premises, the Owner is required to refund to Tenant all advance rent paid by Tenant (and other fees owed to third parties not already law fully disbursed) within 60 days of the transfer.
Transfer of Premises. If the Building is sold or transferred, voluntarily or involuntarily, Landlord’s Lease obligations and liabilities accruing after the transfer shall be the sole responsibility of the new owner.
Transfer of Premises. (a) Tenant shall not assign this Lease or sublease, or grant a license or concession, or otherwise transfer the whole or any part of any Premises (except to an Affiliate of Tenant (hereinafter defined) without the prior written consent of Landlord in each case, which consent shall not be unreasonably withheld, conditioned or delayed. Any request to transfer this Lease or any portion of the Premises shall be accompanied by a check in the amount of one thousand dollars ($1,000.00) to help defray the cost of reviewing same. It shall not be unreasonable for Landlord to withhold consent if (i) Tenant is in default of the Lease beyond the applicable notice and cure period (if any), (ii) the proposed transfer would violate a provision of another lease or agreement, (iii) the proposed use would be incompatible with the other uses in the Building or would increase parking or utility requirements, (iv) the proposed transferee is not sufficiently creditworthy or experienced; (v) Landlord's lender or Tenant's guarantor (if any) refuses to consent, or (vi) any other factor exists which would make Landlord's refusal reasonable under the circumstances. Tenant's request for consent shall be accompanied by sufficient documentation to allow Landlord to make a decision based on the foregoing factors. Landlord shall have the right to recapture the Premises proposed for transfer by written notice to Tenant given within thirty (30) days of the request for consent, but Landlord's failure to exercise this right shall not constitute a consent to the transfer. In the event Landlord elects to recapture all or a portion of the Premises in accordance with this Section 7.01, Tenant may, in a writing delivered to Landlord within five (5) business days of receipt of Landlord's notice that it intends to exercise its recapture right, elect to withdraw its request for Landlord to consent to the proposed assignment or sublease. If Tenant timely withdraws its request for Landlord's consent, Landlord shall not be entitled to exercise its recapture right and this Lease shall continue in full force and effect. In the case of each transfer, Tenant shall cure any outstanding defaults prior to the transfer date, and remain jointly and severally liable with the transferee for the full and timely performance of each and every term, covenant and condition of Tenant under the Lease. All cash or other proceeds whatsoever payable by or on behalf of a transferee of this Lease or the Premises, whensoever s...
Transfer of Premises. 1) If the Owner voluntarily transfers the Premises, Xxxxxx has the right to enforce this Agreement against the grantee of the Premises if Tenant’s occupancy under this agreement is to end 180 days or less after the Grantee’s interest in the Premises is recorded. If Xxxxxx’s occupancy is to end more than 180 days after such recordation, Xxxxxx has no right to this agreement unless the Grantee agrees in writing to honor this Agreement. If the Grantee does not honor this Agreement, Xxxxxx is entitled to a refund of all rent paid by Xxxxxx (and other fees owed to third parties not already lawfully disbursed). Within 10 days after transfer of the Premises, the Grantee or the Grantee’s Agent is required to: (i) notify Tenant in writing of the transfer of the Premises, the Grantee’s name and address and the date the Grantee’s interest was recorded; and (ii) advise Tenant whether Tenant has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Tenant.
Transfer of Premises. Except as otherwise permitted in the Credit Agreement, the Grantor covenants and agrees with the Agent that the Grantor shall not sell, transfer, convey, mortgage, encumber or otherwise dispose of the Premises, the Rents and Profits or the Intangible Personalty or any part thereof or any interest therein or engage in subordinate financing with respect thereto during the term of this Mortgage without the prior written consent of the Agent.
Transfer of Premises. In the event of any transfer of Landlord’s interest in the Premises, other than a transfer for security purposes only, provided that the assignee landlord agrees in writing, in form and substance acceptable to Tenant, to assume all obligations of Landlord to Tenant arising out of this Lease, Landlord shall be automatically relieved of any and all obligations and liabilities on the part of Landlord arising out of this Lease which accrue from and after the date of such transfer and Tenant agrees to attorn to the transferee.
Transfer of Premises. A. If Landlord sells or transfers all or any portion of the Premises, then Landlord, on consummation of the sale or transfer, shall be released from any liability thereafter accruing under this Agreement provided that such assignee or transferee shall assume the obligations of Landlord under this Agreement. If any Security Deposit or prepaid Rent has been paid by Tenant, Landlord agrees to transfer the Security Deposit or prepaid Rent to Landlord’s successor, other than any portion of the Security Deposit applied in accordance with this Agreement or retained to compensate Landlord for any loss or damage which Landlord may have suffered as a result of Tenant’s default, and thereupon Landlord shall be discharged from any further liability in reference thereto.
Transfer of Premises. If the Premises, or Landlord’s interest in the Premises, is sold, transferred by reason of foreclosure or other enforcement proceeding, or otherwise transferred by Landlord or any successor, Tenant shall attorn to the purchaser or transferee and recognize it as the lessor under this Lease, and, provided the purchaser or transferee assumes all obligations hereunder, the transferor shall have no further liability hereunder.
Transfer of Premises. If the owner voluntarily transfers the Premises, Xxxxxx has the right to enforce this Agreement against the grantee of the Premises if Tenant’s occupancy under this Agreement is to end 180 days or less after the xxxxxxx’s interest in the Premises is recorded. If Xxxxxx’s occupancy is to end more than 180 days after such recordation, Xxxxxx has no right to enforce the terms of this Agreement unless the grantee agrees in writing to honor this Agreement. If the grantee does not honor this Agreement, Xxxxxx is entitled to a refund of all advance rent paid by Xxxxxx (and other fees owed to their parties not already lawfully disbursed). Within 20 days after the transfer of the Premises, the grantee or the grantee’s agent is required to: (i) notify Tenant in writing of the transfer of the Premises, the grantee’s name and address, and the date the grantee’s interest was recorded; and (ii) advise Tenant whether Xxxxxx has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Tenant. However, if the grantee engages Agent to continue managing the Premises after the transfer, the grantee shall have no obligation under (i) or (ii) above if this Agreement must be honored under the Vacation Rental Act or if the grantee agrees in writing to honor this agreement.
Transfer of Premises. In the event of a Transfer by Franchisee of this Agreement or the Franchised Business, if legally permissible, Franchisee shall also Transfer all of its rights under any lease(s) for its Locations or any other property necessary for the operation of the Franchised Business to the same transferee of Franchisee.
