Affiliate of Tenant definition
Examples of Affiliate of Tenant in a sentence
Tenant shall not, without the prior written consent of Landlord, which consent Landlord may withhold in its sole discretion, assign, mortgage, pledge, hypothecate, encumber or otherwise transfer (except to an Affiliate of Tenant or a Permitted Assignee) the Lease or any interest therein, all or any part of the Property, whether voluntarily, involuntarily or by operation of law.
Notwithstanding anything contained in this Section 13 to the contrary, Tenant may, without the consent of Landlord, (i) grant a collateral assignment and/or a leasehold mortgage or other security instrument to a mortgagee in connection with a loan used to finance the Redevelopment of the Property, (ii) assign this Lease to an Affiliate of Tenant (which remains an Affiliate of Tenant following such Transfer), and (iii) cause the lease-up of the Property in accordance with the Redevelopment Plans.
For the absence of doubt, Tenant shall be permitted to enter into a management agreement with an Affiliate of Tenant without obtaining Landlord’s consent thereto.
No subtenant that is an Affiliate of Tenant shall be required to attorn to Landlord as set forth above in this Section 16.2.
Management Company acknowledges and agrees that Tenant may assign its rights and obligations under this Agreement without prior approval of Management Company to an Affiliate of Tenant or to a third party in connection with the sale of the Facility.