Lease Transfer definition
Examples of Lease Transfer in a sentence
Should the Landlord give prior written consent, the consent will be conditioned upon the Tenant and transferee executing a Lease Transfer Addendum within the sole discretion of the Landlord.
If Assuming Party defaults on the Lease and this Lease Transfer Agreement is not consented to by Lessor, Homeowner acknowledges that Homeowner will be responsible for the default.
Notwithstanding the foregoing, an exchange or sale of a Hybrid Lease, Loan or Property in connection with a Collateral Defect, Terminated Lease Properties, sales pursuant to the exercise of Third Party Purchase Options, Lease Transfer Properties, Risk-Based Substitutions or sales during the Disposition Period shall not be taken into consideration for purposes of the 35% maximum described in the prior sentence.
Within thirty (30) days after Landlord receives all such information it shall notify Tenant whether it approves such Lease Transfer or if it elects to proceed under Section 14.1(b).
The acceptance of rent by Landlord from any other person shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any Lease Transfer or Corporate Transaction.
The consent by Landlord to any Lease Transfer or Corporate Transaction shall not relieve Tenant or any such Transferee or assignee from the obligation to obtain Landlord’s express prior written consent to any subsequent Lease Transfer or Corporate Transaction.
Homeowner acknowledges that, until this Lease Transfer Agreement is consented to by Lessor, Homeowner is still responsible for performing under the Lease.
Failure of Landlord to respond within thirty (30) days after receipt of all of the information listed above shall be deemed approval by Landlord of the proposed Lease Transfer.
Tenant shall pay Landlord’s reasonable attorneys’ fees not to exceed Two Thousand and No/100 Dollars ($2,000.00) incurred in connection with any proposed Lease Transfer.
The requirement for obtaining Landlord's consent to a Lease Transfer shall continue to exist for all subsequent Lease Transfers regardless of the number or nature of consents given to previous Lease Transfer(s).