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Agmt05 Provident Credit Union
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Agmt05 Provident Credit Union
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Last modified
1/3/2006 10:58:54 AM
Creation date
1/3/2006 10:54:18 AM
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Template:
Agreement
Contractor Name
Provident Credit Union
PROJECT NAME
lease - expires August 31 2010
RMP File Number
304
Date
9/1/2005
MO Ref
05-185
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<br />improvements payable in connection with such assignment or subletting, shall be <br />paid to landlord as Additional Rent under this lease without affecting or <br /> <br />reducing any other obligations or Tenant hereunder. "Additional rent" shall not <br /> <br />be included in calculating the net amount due Landlord hereunder. <br /> <br />4.2.2 Affiliates. Notwithstanding the provisions of Section 4.2 <br /> <br />above, Tenant may assign this Lease or sublet the Premises, or any portion <br />thereof, without landlord's consent and without extending any recapture or <br /> <br />termination option to landlord, to any corporation or other entity which controls, <br />is controlled by, or is under common control with Tenant ("control" shall mean <br /> <br />Tenant retains fifty-one (51 %) percent or more interest), or to any corporation or <br /> <br />other entity resulting from merger or consolidation with Tenant, or to any person <br />or entity which acquires all the assets of Tenant's business as a going concern, <br /> <br />provided that (i) the assignee or sublessee assumes, in full, the obligations of <br />Tenant under this Lease, (ii) Tenant remains fully liable under this Lease, (iii) the <br /> <br />use of the Premises under Article 1.3 remains unchanged, and (iv) Landlord shall <br /> <br />have received and executed copy of the assignment or sublease on or before its <br />effective date. <br /> <br />4.2.3 No Waiver or Release. No subletting or assignment shall <br />release Tenant of its obligations under this Lease or alter the primary liability of <br /> <br />Tenant to pay the Rent and to perform all other obligations to be performed by <br />Tenant hereunder. The acceptance of Rent by landlord from any other person <br /> <br />shall not be deemed to be a waiver of landlord of any provision hereof. Consent <br />to one assignment or subletting shall not be deemed consent to any subsequent <br /> <br />assignment or subletting. In the event of default of an assignee or subtenant of <br />Tenant or any successor of Tenant in the performance of any of the terms <br /> <br />hereof, Landlord may proceed directly against Tenant without the necessity of <br /> <br />~~ <br />
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