Assignment Of Leases

Assignment Of Leases-21
Assignments of Leases and Rents means those certain assignments of leases and rents executed in connection with the Existing Credit Agreement and/or this Agreement and corresponding to the real property to which each of the Mortgages relate.

Assignments of Leases and Rents means those certain assignments of leases and rents executed in connection with the Existing Credit Agreement and/or this Agreement and corresponding to the real property to which each of the Mortgages relate.

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Any such assignee shall upon request execute and deliver to Landlord an instrument confirming such assignment. Assignor hereby assigns to Assignee all of its right, title, and interest in and to the Lease.

Lessors agree that Assignee may, at its election, convert itself from a corporation to a limited liability company at any time, and this conversion will not be considered an assignment which requires Lessors' consent.

If everyone agrees, the lease can be handed over to the new tenant, freeing you from many of your obligations.

It is worth noting that many leases state that the tenant who is selling has to guarantee the performance of the new occupants.

At Closing, Seller shall assign and Buyer shall assume Seller’s obligations under all Leases and New Leases, pursuant to an assignment of leases in the form attached as Exhibit C (the “Assignment of Leases”). If the Trustee or Tenant has assumed the Lease pursuant to the provisions of this Section 17.6 for the purpose of assigning Tenant’s interest hereunder to any other person or entity, such interest may be assigned only after the Trustee, Tenant or the proposed assignee has complied with all of the terms, covenants and conditions of Section 13.1 herein, including, without limitation, those with respect to additional rent and the use of the Premises only as permitted in Article VIII herein; Landlord and Tenant acknowledging that such terms, covenants and conditions are commercially reasonable in the context of a bankruptcy proceeding of Tenant.

Any person or entity to which this Lease is assigned pursuant to the provisions of the Code shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on and after the date of such assignment.

Sometimes it may be possible to negotiate your way out of this, so it’s a good idea to get professional advice.

Sometimes, a landlord can refuse to give an assignment of lease.

Assignments of Leases and Rents means each of those certain Assignments of Leases and Rents, dated as of August 28, 2003, by each Borrower and Operator in favor of the Administrative Agent (on behalf of the Lenders), as amended by a certain modification agreement dated as of the date hereof by each Borrower, each Operator and the Administrative Agent.

Assignments of Leases and Rents means each of those certain Assignments of Leases and Rents, dated as of August 28, 2003, or December 22, 2005, as applicable, by each Borrower and Operator in favor of the Administrative Agent (on behalf of the Lenders), in each case as the same may be joined in, amended, ratified, confirmed, or consented to from time to time.

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