An "Assignment by Lessor" clause in a contract allows the lessor, or property owner, to transfer their rights and obligations under the lease to another party. This clause typically specifies the conditions under which such an assignment is permissible and any required notifications or approvals that must be obtained.
The Lease Agreement shall contain an assignment provision for the benefit of Lessor. All costs associated with any assignment by Lessor will be the sole responsibility of Lessor and Lessor will indemnify Lessee from any exposure to such costs, including but not limited to any reasonable out of pocket expenses incurred by Lessee (including attorney’s and tax advisor’s fees). In the event of an assignment by Lessor, (i) such assignment, including the relocation of the tax residence, shall not result, and shall not be likely to result, in any greater cost, obligation or risk to Lessee; and (ii) the assignee lessor shall be obligated to abide by all provisions of the Lease Agreement.
Assignment by Lessor. Should Lessor assign the sums due and to become due hereunder to any bank, insurance company or any other person, firm or corporation (of which assignment Lessee hereby waives any notice requirement), Lessee shall recognize such assignment and should Lessor default in the performance of any of the terms and conditions of this Lease, Lessee may not, as to such assignee, terminate this Lease or subject Lessee’s obligations to pay money under this Lease to any diminution or right of set-off or compensation. Nothing herein contained shall release Lessor from its obligation to perform any duty, covenant or condition required to be performed by Lessor under the terms of this Lease should the same be sold or assigned.
Assignment by Lessor. As a material inducement to Lessor’s willingness to enter into the transactions contemplated by this Lease (the “Transaction”) and the other Transaction Documents, Lessee hereby agrees that as set forth further below, Lessor may, from time to time and at any time and without the consent of Lessee, engage in all or any combination of the following, or enter into agreements in connection with any of the following or in accordance with requirements that may be imposed by applicable securities, tax or other Laws: (a) the sale, assignment, grant, conveyance, transfer, financing, re-financing, purchase or re-acquisition of all, less than all or any portion of the Properties, this Lease or any other Transaction Document, Lessor’s right, title and interest in this Lease or any other Transaction Document, the servicing rights with respect to any of the foregoing, or participations in any of the foregoing; or (b) a Securitization and related transactions, provided that, if no Event of Default has occurred and is continuing at the time of the proposed transaction, Lessor shall not engage in any of the foregoing transactions with any Person identified on Schedule 14.01 (each, a “Restricted Transferee”). Without in any way limiting the foregoing, the parties acknowledge and agree that Lessor, in its sole discretion, may assign this Lease or any interest herein to another Person in order to maintain Lessor’s or any of its Affiliates’ status as a REIT. In the event of any such sale or assignment other than a security assignment, Lessee shall attorn to such purchaser or assignee (so long as Lessor and such purchaser or assignee notify Lessee in writing of such transfer and such purchaser or assignee expressly assumes in writing the obligations of Lessor hereunder from and after the date of such assignment). At the request of Lessor, Lessee will execute such documents confirming the sale, assignment or other transfer and such other agreements as Lessor may reasonably request, provided that the same do not increase the liabilities and obligations of Lessee hereunder. Lessor shall be relieved, from and after the date of such transfer or conveyance, of liability for the performance of any obligation of Lessor contained herein, except for obligations or liabilities accrued prior to such assignment or sale.
ASSIGNMENT BY LESSOR. Lessor may assign its rights, duties, and obligations under this Agreement in the event that Lessor sells the Premises.
Sale or Assignment by Lessor. 18.1It is agreed that Lessor may at any time sell, assign or transfer by lease or otherwise its interest as Lessor in and to this Lease, or any part thereof, and may at any time sell, assign or transfer its interest in and to the whole or any portion of the Premises or the Office Building Project. In the event of any transfer of Lessor’s interest in the Premises or the Office Building Project and delivery to Lessee of written notice of such transfer, the transferor shall be automatically relieved of any and all of Lessor’s obligations and liabilities accruing from and after the date of such transfer provided that the transferee assumes all of Lessor’s obligations under this Lease.
The acceptance of any Rent or other payments by Lessor from a proposed Transferee shall not constitute consent to such Sublease or Assignment by Lessor or a recognition of any Transferee, or a waiver by Lessor of any failure of Lessee or other Transferor to comply with this Section 12. In the event that Lessee sublets, assigns or transfers this Lease, Lessee shall pay to Lessor as Additional Rent an amount equal to fifty percent (50%) of any Increased Rent (as defined below) when and as such Increased Rent is received by Lessee.
ASSIGNMENT BY LESSOR: Lessor and any assignee of Lessor, with or without notice to or consent of Lessee, may sell, assign, transfer or grant a security interest in all or any part of Lessor's rights, obligations, title or interest in the Equipment, the Lease, any Schedule or the amounts payable under the Lease or any Schedule to any entity (a "transferee"). The transferee shall succeed to all of Lessor's rights in respect to the Lease as assigned to said transferee (including, without limitation, all rights to insurance and indemnity protection described in the Lease). Lessee agrees to sign any acknowledgement and other documents reasonably requested by Lessor or the transferee in connection with any such transfer transaction. Lessee, upon receiving notice of any such transfer transaction, shall comply with the terms and conditions thereof. Lessee agrees that it shall not assert against any transferee any claim, defense, setoff, deduction or counterclaim which Lessee may now or hereafter be entitled to assert against Lessor. Unless otherwise agreed in writing, the transfer transaction shall not relieve Lessor of any of its obligations to Lessee under the Lease and Lessee agrees that the transfer transaction shall not be construed as being an assumption of such obligations by the transferee. Lessee agrees that Lessor may provide lease information and financial information about Lessee on a confidential basis to any prospective transferee.
Assignment by Lessor. The rights of Lessor may be assigned in whole or in part, and the provisions hereof shall extend to the successors and assigns of Lessor; provided, however, that no change or division in ownership of the Leased Premises or the Royalty Payments payable hereunder, however accomplished, shall operate to enlarge the obligations or diminish the rights of Lessee hereunder, and no such change or division shall be binding upon Lessee for any purpose until ten (10) days after Lessee shall have been furnished at Lessee’s address for notice hereunder, with a copy of a recorded instrument or instruments evidencing same.
With reference to any assignment by Lessor of Lessor’s interest in this Lease, or the rents payable hereunder, conditional in nature or otherwise, which assignment is made to a Mortgagee, Lessee agrees that the execution thereof by Lessor, and the acceptance thereof by the Mortgagee, shall never be treated as an assumption by such Mortgagee of any of the obligations of Lessor hereunder unless such Mortgagee shall, by notice sent to Lessee, specifically otherwise elect and such holder shall be treated as having assumed Lessor’s obligations hereunder only upon foreclosure of such Mortgage and the taking of possession of the Premises. Except as provided herein, in the event of any transfer of title to the Premises by Lessor, Lessor shall thereafter be entirely freed and relieved from the performance and observance of all covenants and obligations hereunder thereafter arising.
Assignment. Lessor and any Assignee may assign or transfer any of Lessor's interests in any Lease or Equipment without notice to Lessee, subject, however, to the rights of Lessee to use and possess the Equipment under such Lease for so long as no Event of Default has occurred and is continuing. Lessee agrees that: (i) the rights of any Assignee shall not be affected by any breach or default of Lessor or any prior Assignee, and Lessee shall not assert any defense, rights of set-off or counterclaim against any Assignee, nor hold or attempt to hold such Assignee liable for any such breach or default (provided, however, that, Lessee shall retain the right to sue Lessor or any prior Assignee with respect to any such breach or default of Lessee or any prior Assignee, notwithstanding an assignment by Lessor or any prior Assignee; (ii) no Assignee shall be required to assume any obligations of Lessor under any Lease except the obligation of non-interference in Section 1 above, (iii) any Assignee expressly assuming the obligations of Lessor shall thereupon be responsible for Lessor's duties under the applicable Lease accruing after assignment and Lessor shall be released from such duties, and (iv) Lessee shall execute and deliver upon request such additional documents, instruments and assurances as Lessor deems necessary in order to (y) acknowledge and confirm all of the terms and conditions of any Lease and Lessor's or such Assignee’s rights with respect thereto, and Lessee’s compliance with all of the terms and provisions thereof, and (z) preserve, protect and perfect Lessor’s or Assignee’s right, title or interest hereunder and in any Equipment, including, without limitation, such UCC financing statements or amendments, control agreements, corporate or member resolutions, votes, notices of assignment of interests, and confirmations of Lessee’s obligations and representations and warranties with respect thereto as of the dates requested. Lessor may disclose to any potential Assignee any information regarding Lessee, any Guarantor and their Affiliates. Lessee shall not assign, pledge, hypothecate or in any way dispose of any of its rights or obligations under any Lease (except amongst Lessees or in connection with Lessee’s grant of a lien on all or substantially all of its assets in a financing transaction), or enter into any sublease of any Equipment, without Lessor's prior written consent. Any such purported assignment, pledge, hypothecation, disposal or sublease by Lessee made without Lessor’s prior written consent shall be null and void.
Assignment by Lessor. Prior to January 2, 2009, Lessor shall not assign or transfer any or all of its interests under this Lease without Lessee’s prior written consent, which consent Lessee agrees not to unreasonably withhold or delay. On or after January 2, 2009, Lessor may assign or transfer any or all of its interest under this Lease without Lessee’s prior consent; provided that Lessor may not assign or transfer any or all of its interests under this Lease to a competitor of Lessee, Compression Polymers Corp., or CPCapitol Acquisition Corp. or any of their affiliates.
No Assignment by Lessor: Prior to the date of issuance of CSC for the Building, the Lessor shall not sell, transfer, assign, novate or dispose of the whole or any part of the Property and/or the Lessor’s interest under this Agreement and the Lease Agreement without the prior written consent of the Lessee (such consent not to be unreasonably withheld or delayed).
Assignment by Lessor. As a material inducement to Lessor’s willingness to enter into the transactions contemplated by this Lease (the “Transaction”) and the other Transaction Documents, Lessee hereby agrees that Lessor may, from time to time and at any time and without the consent of Lessee, engage in all or any combination of the following, or enter into agreements in connection with any of the following or in accordance with requirements that may be imposed by applicable securities, tax or other Laws: (a) the sale, assignment, grant, conveyance, transfer, financing, re-financing, purchase or re-acquisition of the Property, this Lease or any other Transaction Document, Lessor’s right, title and interest in this Lease or any other Transaction Document, the servicing rights with respect to any of the foregoing, or participations in any of the foregoing; or (b) a Securitization and related transactions; provided, however, notwithstanding anything to the contrary, any assignment of this Lease must also include an assignment of the Disbursement Agreement and any party receiving an assignment of this Lease must also receive an assignment of the Disbursement Agreement and agree to be bound by both this Lease and the Disbursement Agreement. Without in any way limiting the foregoing, the parties acknowledge and agree that Lessor, in its sole discretion, may assign this Lease or any interest herein to another Person in order to maintain Lessor’s or any of its Affiliates’ status as a REIT. In the event of any such assignment other than a security assignment, Lessee shall attorn to such assignee (so long as Lessor and such assignee notify Lessee in writing of such transfer and such assignee expressly assumes in writing the obligations of Lessor hereunder from and after the date of such assignment). At the request of Lessor, Lessee will execute such documents confirming the sale, assignment or other transfer and such other agreements as Lessor may reasonably request, provided that the same do not increase the liabilities and obligations of Lessee nor diminish Lessee’s rights hereunder. Provided that the Security Deposit and all other reserves, awards, proceeds and impounds being held by Lessor for the account of Lessee have been conveyed to the successor owner or assignee, Lessor shall be relieved, from and after the date of such transfer or conveyance in accordance with this Section 14.01, of liability for the performance of any obligation of Lessor contained herein, except for obligations or liabilities accrued prior to such assignment or sale.
Assignment by Lessor. Lessor shall the absolute and unconditional right to assign this Lease without the written consent of Lessee.
ASSIGNMENT BY LESSOR. Lessor and its successors and assigns may sell, assign, transfer or syndicate its rights, title and interest in and to any Lease and the Equipment, individually or together, in whole or in part, and/or grant or assign a security interest in any Lease and the Equipment individually or together, in whole or in part; provided, however, that so long as no Event of Default or event which with the giving of notice, the passage of time, or both, would constitute an Event of Default shall have occurred, Lessor shall
SALE OR ASSIGNMENT BY LESSOR. 1. Subject to LESSEE’s rights pursuant to this Lease, LESSOR may at any time and without LESSEE’s consent sell, assign or transfer its rights, interest and obligations hereunder or with respect to the Aircraft to a third party (“LESSOR’S ASSIGNEE”). For a period of two (2) years after such sale or assignment and at LESSEE’s cost, LESSEE will continue to name LESSOR as an additional insured under the Aviation and Airline General Third Party Liability Insurance specified in Exhibit C. 2. The term “LESSOR” as used in this Lease means the lessor of the Aircraft at the time in question. In the event of the proper sale of the Aircraft and transfer of LESSOR’s rights and obligations under this Lease, LESSOR’s Assignee will become “LESSOR” of the Aircraft under this Lease and the transferring party (the prior “LESSOR”) will be relieved of all liability to LESSEE under this Lease for obligations arising on and after the date the Aircraft is sold. LESSEE will acknowledge and accept LESSOR’s Assignee as the new “LESSOR” under this Lease and will look solely to LESSOR’s Assignee for the performance of all LESSOR obligations and covenants under this Lease arising on and after the Aircraft sale date provided such transfer, sale or assignment is in conformity with the requirements of this Article.
An Assignment by Lessor refers to the act of a lessor (the original landlord or owner) transferring their rights and obligations under a lease to another party. This process allows the lessor to assign its interests to a third party, who will then take over the role of the lessor in dealing with the tenant. This could include collecting rent, maintaining the property, and enforcing the terms of the lease.
You should consider using an Assignment by Lessor in several scenarios:
Creating an Assignment by Lessor document involves several important components:
Example:
This Assignment Agreement, dated [Date], is made between [Original Lessor’s Name], the Assignor, and [Assignee’s Name], the Assignee. Under this agreement, the Assignor assigns all rights and responsibilities of the lease dated [Original Lease Date] to the Assignee.
Assignment by Lessor clauses are commonly found in:
Including Assignment by Lessor clauses in lease contracts provides flexibility and facilitates smoother transitions in property management and ownership.
Try our AI contract analysis and extract important clauses and information from existing contracts.
< <
Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
An assignment of claims clause allows one party in a contract to transfer their right to receive payment or benefits under the contract to a third party, typically known as the assignee. This clause is often used to ensure financial flexibility and liquidity by enabling the original party to leverage their contractual rights for financing or business transactions.
The "Assignment of Rents" clause is a contractual provision frequently found in mortgages or deeds of trust, allowing the lender to take possession of rental income generated by the mortgaged property in the event of borrower default. Essentially, it serves as additional security for the lender, ensuring they have a means of income should the property owner fail to meet their mortgage obligations.
The "Assignment of Security Interest" clause outlines the conditions under which a party to a contract can transfer their security interest in a collateral to another party, allowing the transferee to assume the rights and obligations associated with that interest. This clause ensures that any assignment is conducted in accordance with the agreement's terms and applicable laws, protecting the interests of all parties involved.
Fill out the form and we will get in touch with you to give you a personal, customized demo of fynk.
Greetings!
I'm Markus, co-founder of fynk. After you've submitted the form, I'll swiftly get in touch with you.
Also, right after you submit your details, you can pick a time that works best for you for our meeting.
