Assignment Of Tenancy

Assignment Of Tenancy-69
Notwithstanding the foregoing, in the event of any sale or other transfer of the Resort, this Lease may be assigned, transferred or sublet by Tenant without Landlord’s consent to the new owner, assignee or transferee of the Resort upon Tenant’s providing Landlord with thirty (30) days’ prior written notice thereof.In the event of any such sale, assignment or transfer upon an express assumption of Tenant’s obligations under this Lease by the new owner of the Resort, Tenant shall be released from any liability under this Lease arising from and after the effective date of any such assignment and assumption and shall not be required to guaranty any obligations hereunder.

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A new tenancy is not created and the assignee becomes a tenant, not a lodger in possession or any other type of occupant.

If you’re a Lambeth Housing tenant, you can assign your tenancy to your husband, wife or civil partner if they live with you.

All requests to the landlord for consent to assigning this Lease or subletting or parting with the possession of all or part of the herein demised premises shall be made to the Landlord in writing together with such information in writing as a Landlord might reasonably require respecting a proposed assignee, including without limitation, the name address, nature of business experience and responsibility and financial responsibility, standing and background of such proposed assignee and, in the event that such proposed assignee is a corporation, similar information respecting the principal shareholders of such corporation.

Any assignee, sub-tenant, licensee or concessionaire approved by the Landlord shall be bound by all the terms, conditions, covenants, provisos, and agreements of this Lease and shall, at the request of the Landlord, execute a covenant to such effect.

In the event of any such assignment, Tenant shall remain fully liable for the performance of its duties and obligations hereunder, except to the extent hereinafter provided, and no such assignment and no dealings or transactions between Issuer or the Trustee and any such assignee shall relieve Tenant of any of its duties and obligations hereunder, except as may be otherwise provided in the following section. Tenant may assign or transfer all or any part of its interest in this Lease and the underlying Premises to any entity or person licensed to operate a casino in the State of Colorado, provided that the transferee’s financial performance ranks it among the top fifteen (15) casino operators in the State of Colorado as measured by the gaming tax rate applied to its revenues during for the preceding month determined in accordance with the Colorado Limited Gaming Act and the Gaming Regulations promulgated thereunder, and provided further that Tenant shall first obtain Landlord’s consent to such assignment or transfer, which consent shall not be unreasonably withheld.

Tenant may, without first obtaining Landlord’s prior consent, transfer or assign all or any part of Tenant’s interest in this Lease and the underlying Premises to any entity in which Tenant retains an ownership interest, provided that , Tenant provides Landlord with not less than thirty (30) days prior written notice of such intended transfer.

Tenant shall not assign or sublet any interest in this Lease without prior written consent of the Landlord, which consent shall not be unreasonably withheld.

Any assignment or sublease without Landlord’s written prior consent shall, at Landlord’s option, terminate this Lease.

Assignment by Tenant (a) Tenant acknowledges that Landlord has relied both on the business experience and creditworthiness of Tenant and upon the particular purposes for which Tenant intends to use the Properties in entering into this Lease.

Any (i) assignment, sublease, transfer, conveyance, pledge or mortgage by Tenant, whether voluntary or involuntary, whether by operation of Law or otherwise, of any part or all of this Lease, or of any part or all of the leasehold estate created by this this Lease, or any interest herein, or (ii) any assignment, transfer, conveyance, pledge or mortgage of any stock, partnership, membership or other direct or indirect equity interests in Tenant, Guarantor or any Person or group of Persons controlling Tenant or Guarantor that results in a direct or indirect change of control of Tenant, whether voluntary or involuntary, whether by operation of law (for example, by merger) or otherwise, is defined in this Agreement as a “Transfer”.


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