Transfer of Tenants Interest. Tenant shall have the right at any time and from time to time to assign or otherwise transfer all or any part of Tenant's interest in this Lease and to sublet the Premises, or any part thereof, provided that: (a) any assignment or subletting shall provide that the assignee or sublessee assumes and agrees to carry out and perform all of the terms and conditions of this Lease on the part of Tenant to be carried out and performed; (b) an executed copy of the assignment or subletting shall be delivered to Landlord; (c) the proposed use is consistent with the provisions of this Lease governing such matters; and (d) in the reasonable opinion of Landlord, the proposed new tenant has the financial strength to support the obligations imposed by the Lease. Upon any assignment of Tenant's entire interest in this Lease, Tenant shall be released from any further liability with respect thereto upon the written consent of Landlord, which consent Landlord agrees not unreasonably to withhold. Landlord's consent shall be deemed to have been given if within thirty (30) days of notice of assignment to Landlord, Landlord fails to object to the new tenant by written notice to Tenant, stating in detail the reasons for such objection. Notwithstanding the foregoing, Tenant shall have the right at any time and from time to time without notice to Landlord to assign or otherwise transfer all or any part of Tenant's interest in this Lease to sublet the Premises, or any part thereof, to any entity that is affiliated with Tenant.
Transfer of Tenants Interest. Neither Tenant's interest in the Lease, nor any lesser interest of Tenant therein, nor any estate of Tenant hereby created shall pass to any trustee, receiver, assignee for the benefit of creditors or other person or entity or otherwise by operation of law under the laws of any state having jurisdiction of the person or property of Tenant unless Landlord shall consent to such transfer in writing. No acceptance by Landlord of Rent or any other payment from any such trustee, receiver, assignee, person or other entity shall be deemed to have waived, nor shall it waive, the requirement of Landlord's consent or the right of Landlord to terminate this Lease in the absence of such consent to any transfer of Tenant's interest in this lease.
Transfer of Tenants Interest. 23.1 Tenant shall not:
(a) transfer all or any portion of this lease or any of its leasehold interest in the Premises, without the prior written consent of Landlord, which may not be unreasonably withheld;
(b) mortgage, pledge, hypothecate or otherwise create or grant any security interest in Tenant's leasehold interest (or any part thereof) in the Premises without the prior written consent of Landlord, which may not be unreasonably withheld or delayed, and, subject to Tenant's right to contest in a manner similar to that provided in Section 9.3 for Impositions, Tenant shall not voluntarily or involuntarily suffer or permit to be placed or enforced against the Premises any lien, claim, demand or encumbrance of any type or nature whatsoever.
23.2 Any request by Tenant for Landlord's consent to a transfer shall be accompanied by information related to the proposed transferee's financial position and proposed use of the property, and any other information Landlord may reasonably request in order to evaluate the proposed transfer. Landlord's consent to a transfer xxxxx xxt be effective until Landlord has received the written agreement of the transferee to assume and perform all of the obligations of Tenant for the payment of Total Payments and the performance of all the terms, covenants, conditions and provisions contained in this lease. Any consent by Landlord to any single transfer shall not release Tenant from any obligations under this lease and such consent shall only apply to the specific transaction thereby authorized and shall not be construed as a waiver of the duty to obtain Landlord's consent to any subsequent transfer.
23.3 Tenant shall reimburse Landlord for any costs reasonably incurred in connection with any proposed transfer or creation of a security interest, including, without limitation, legal fees and costs of investigating the acceptability of the proposed transferee or security interest and preparation or review of necessary documentation.
23.4 Any violation of the terms of this ARTICLE without Landlord's prior written consent xxxxx, xt Landlord's option, be absolutely null and void.
23.5 Landlord's failure to detect or to protest an apparent or actual default of this ARTICLE shall not constitute a waiver or estoppel thereof. The acceptance of any rent by Landlord from a proposed transferee shall not constitute consent by Landlord to any transfer or recognition of any transferee or a waiver by Landlord of any failure of Tenant to comply w...
Transfer of Tenants Interest. For the purposes of this Master Lease, “Affiliate” means a corporation related to Tenant by shareholdings or any other means of control; a subsidiary of Tenant; Tenant’s parent company; or a sibling company of Tenant. Except to an Affiliate known to Landlord at the time Landlord signs this Master Lease Agreement:
A. Tenant may not, without the prior, written consent of Landlord, which Landlord will not unreasonably withhold:
(1) Transfer, encumber, or pledge (collectively and individually, “Transfer”) its interest in this Master Lease, either in its entirety or as to a particular Leased Premises, or an applicable Leased Premises;
(2) Permit any Transfer or interest of this Master Lease by operation of law;
(3) Permit any person or entity other than Tenant to use the Leased Premises; or
(4) Cause or permit Tenant’s dissolution, merger, or consolidation, unless Tenant is merging or consolidating with an Affiliate.
B. Tenant shall notify Landlord, in writing, prior to or simultaneously with, a public announcement of the Transfer within any twelve (12) month period of either more than an aggregate of fifty percent (50%) of Tenant’s voting shares or more than fifty percent (50%) of the value of Tenant’s unencumbered assets (as of the date of the Transfer); or the Transfer of any part or all of its shares of stock resulting in a change in Tenant’s present effective voting control by the person owning a majority of said shares of stock on the day Tenant signs this Master Lease. If a Transfer occurs, Landlord, in its sole discretion, may terminate this Master Lease in its entirety by providing written notice to Tenant within ninety (90) days following receipt by Landlord of Tenant’s notice as required above. Tenant’s failure to provide Landlord notice as required above constitutes a material breach of this Master Lease.
Transfer of Tenants Interest. Tenant shall not allow or permit any transfer of this lease, or any interest hereunder, by operation of law or otherwise, or convey, mortgage, pledge or encumber this lease or any interest hereunder.
Transfer of Tenants Interest. DEFAULT; LANDLORD’S RIGHTS AND REMEDIES.....................................................
Transfer of Tenants Interest. Section 10.1(A) is hereby deleted in its entirety and is replaced by the following:
Transfer of Tenants Interest. If the Tenant named herein or any successor to its interest hereunder ceases to have any interest in the Premises under this Lease or there is at any time or from time to time any valid sale or sales or disposition or dispositions or transfer or transfers of the Tenant’s or any successor’s entire interest in the Premises in accordance with the provisions of Article 10, the Tenant named herein or any such successor, as the case may be, shall be and hereby is entirely freed and relieved of all agreements, covenants and obligations of Tenant hereunder to be performed on or after the date of such sale or transfer, and it shall be deemed and construed without further agreement between the parties or their successors in interest or between the parties and the Person who acquires or owns the Tenant’s interest in the Premises under this Lease, including, without limitation, the purchaser or transferee in any such sale, disposition or transfer, that, such Person has assumed and agreed to carry out any and all agreements, covenants and obligations of Tenant hereunder accruing from and after the date of such sale or transfer.
Transfer of Tenants Interest. TENANT'S DEFAULT; LANDLORD'S RIGHTS AND REMEDIES................ 39 22. COUNTERCLAIMS................................................... 44 23.
Transfer of Tenants Interest. Tenant shall not, voluntarily or by operation of law, assign or otherwise transfer this Lease or encumber any right or interest hereunder, or in or to any of the Improvements, or sublet or license the use of the Premises without the prior written approval of Landlord and Department. No such assignment or other transfer, whether voluntary or involuntary, by merger or operation of Law under legal process, through receivership or bankruptcy, or otherwise, and no such subletting or licensing shall be valid or effective. Any attempted assignment, transfer, mortgage, encumbrance, or subletting without Landlord’s and Department’s consent shall be void, and shall constitute a breach of this Lease without the need for notice to Tenant. Any sale or other transfer, including by consolidation, merger, or reorganization, of a majority of the voting stock of Tenant, if Tenant is a corporation, or any sale or other transfer of a majority of the partnership interest in Tenant if Tenant is a partnership, shall be an assignment for purposes of this section.
