ASSIGNMENT BY LESSEE definition
ASSIGNMENT BY LESSEE. Without Lessor's prior written consent, Lessee may not, by operation of law or otherwise, assign, transfer, pledge, hypothecate or otherwise dispose of the Property, this Agreement or any interest therein. ASSIGNMENT BY LESSOR: Lessor may assign, sell or encumber all or any part of this Agreement, the Lease Payments and any other rights or interests of Lessor hereunder. Such assignees may include trust agents for the benefit of holders of certificates of participation.
ASSIGNMENT BY LESSEE. Without the written consent of LESSOR being first obtained in each case, which consent shall not be unreasonably withheld, LESSEE shall not assign, transfer, mortgage, pledge, or otherwise encumber or dispose of this LEASE or the LEASED PREMISES or any part thereof or permit the LEASED PREMISES or any part thereof to be occupied by any other person or entity other than LESSEE. If this LEASE is assigned, or if the LEASED PREMISES or any part thereof is sublet or occupied by any person or entity other than the LESSEE, the LESSOR may, at its option, collector accept RENTAL and other sums due and payable hereunder from the assignee, subtenant, or occupant and apply the net amount collected or accepted to the RENTAL and other sums due and payable hereunder from LESSEE, but no such collection or acceptance of same from the assignee, subtenant or other occupant shall constitute a waiver of this covenant or the acceptance of the assignee, subtenant, or occupant as LESSEE, nor shall same be construed as, or implied to be, a release of the LESSEE from the further observance and performance by the LESSEE of the terms, provisions, covenants and conditions herein contained.
ASSIGNMENT BY LESSEE. LESSEE MAY NOT ASSIGN THIS AGREEMENT OR ANY OF ITS RIGHTS HEREUNDER OR SUBLEASE THE EQUIPMENT WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR. NO PERMITTED ASSIGNMENT OR SUBLEASE SHALL RELIEVE LESSEE OF ANY OF ITS OBLIGATIONS HEREUNDER.
Examples of ASSIGNMENT BY LESSEE in a sentence
ANY UNPERMITTED SUBLEASE OR ASSIGNMENT BY LESSEE SHALL BE VOID AB INITIO.
NO -------------------------------------------------------------------- ASSIGNMENT BY LESSEE.
WITHOUT LESSOR'S PRIOR WRITTEN CONSENT, LESSEE SHALL NOT ASSIGN, SUBLEASE, TRANSFER, PLEDGE, MORTGAGE OR OTHERWISE ENCUMBER (COLLECTIVELY, A "TRANSFER") THE SYSTEM OR ANY LEASE HEREUNDER LESSOR AGREES TO CONSENT TO AN ASSIGNMENT BY LESSEE TO A WHOLLY OWNED SUBSIDIARY OF LESSEE OR TO AN AFFILIATE WHOLLY OWNED BY THE PARENT OF LESSEE OR ANY OF ITS RIGHTS THEREIN OR PERMIT ANY ▇▇▇▇, ▇▇▇▇ OR ENCUMBRANCE THEREON.
ANY ATTEMPTED ASSIGNMENT BY LESSEE WITHOUT SUCH CONSENT SHALL BE NULL AND VOID AND SHALL BE AN EVENT OF DEFAULT UNDER THIS LEASE.
More Definitions of ASSIGNMENT BY LESSEE
ASSIGNMENT BY LESSEE. Without the written consent of LESSOR first obtained in each case, LESSEE shall not assign, sublease, transfer, mortgage, pledge, or otherwise encumber or dispose of this Lease for the Term hereof, or underlet the Leased Premises or any part thereof or permit the Leased Premises to be occupied by other persons. If this Lease is assigned or sublet, or if the Leased Premises or any part hereof are underlet or occupied by anybody other than the LESSEE, the LESSOR may, after default by the LESSEE, collect or accept rent from the assignee, undertenant, or occupant and apply the net amount collected or accepted to the rent herein reserved, but no such collection or acceptance shall be deemed a waiver of this covenant or the acceptance of the assignee, undertenant or occupant as LESSEE, nor shall it be construed as or implied to be, a release of the LESSEE from the further observance and performance by the LESSEE of the terms, provisions, covenants and conditions herein contained. Lessee shall be able to assign freely, without consent of Lessor, to any parent, subsidiary or affiliated corporation, provided said affiliated corporation is engaged in the same or similar business as Lessee and so long as Lessee remains primarily liable for the rental payments. Lessor agrees to not unreasonably withhold consent to an assignment by Lessee to a non-affiliated corporation.
ASSIGNMENT BY LESSEE. Lessee shall NOT have the right or authority to sublease the leased premises or any part thereof, or to transfer or assign this lease, without the written consent of the Lessor. The acceptance of any rental payments by Lessor from any alleged assignee shall not constitute approval of the assignment of this Lease by ▇▇▇▇▇▇. BY ▇▇▇▇▇▇: ▇▇▇▇▇▇ agrees that should the leased premises be sold or the title transferred or conveyed, then: 1) The Lease shall be automatically assigned to the new owner. 2) All terms and conditions of this lease shall remain in effect. 3) Any damage deposit held with the Lessor shall be deemed to be transferred to the new owner.