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(a) Lessee shall not voluntarily or by operation of law assign, transfer, mortgage or encumber (collectively, <br />"assign or assignment'), license or sublet all or any part of Lessee's interest in this Lease or in the Premises without Lessor's prior <br />written consent. <br />-- _ (b) Jrless Lessee is a corporation and its stock is publicly traded or. a nauarai stock cx I ange a change in the <br />control of Lessee shall constitute an h,si_nment requiring consent. The lra!sfer on a cumulative basis, of 2s9� or mon, of the votng <br />control of Lcssce shall constitute a change in control 1'or this purpose - <br />(c) The Involvement of Lessee or its assets in any traasaclion, or series at transactions by way of merger, sale. <br />acqui kion, financing. transfer, leveraged buy-out or otheiwi:e. which results or kill result in a reduction of [he Net Worth of Lessee <br />by art amount greater than 2590 or such Net Worth as it was represented at the time of the execution of this Lcase or at the time or the <br />m..., rczu- �,nm�rt to wh{ch Lessor has consented, or m It exists lh medialcl. pr r to sa j trani'l rr c, ttavacti n, construing <br />such radi t;' -, which vvr wns ora greal,or, shall be cors.dor..j an aa- gnmert of Lu Lease lc which Les ur may wb.hho,d its consen!. <br />"Net Worth of Losse " shall mean the net toes.' of Losse:. (includirv', any gucranw ;) estahlr hid under foncra'ly a��ecpted accounting <br />P1 inciples <br />(d) An assig"lnment or subletting without consent shall, at Lessor's option, be a Default curable after notice per <br />Paragraph 13.I (c), or a non -curable Breach without the necessity of any notice and grace period. Ir Lessor elects to treat such unapproved <br />assignment or subletting as o non -curable Breach, Lessor may either (i) terminate this Lease, or (it) upon 30 days written notice, increase <br />the monthly Base Rent to 110% of the Base Rent then in effect. Further, in the event or such Breach and rental adjustment, all fixed <br />and non-lixod rental adjustments scheduled during the remainder or the Lease term shall be increased to 11090 of the scheduled adjusted <br />rent. <br />(e) Lessee's remedy for any breach or Paragraph 12.1 by Lessor shall be limited to compensatory damages and/or <br />injunctive repel. <br />(0 Lessor may reasonably withhold consent to o proposed assignment or subletting if Lessee is in Default at the <br />Lime consent is requested. <br />(g) Notwithstanding the foregoing, allowing a de minimis portion of the Premises, i.e. 20 square feet or less, to <br />be used by a third pm Ly vendor in connection with the installation of a vending machine or payphone shall not constitute a subletting. <br />12.2 Terms and Conditions Applicable to Assignment and Subletting. <br />(a) Regardless of Lessor's consent, no assignment or subletting shall (i) be effective without the express written <br />assumption by such assignee or sublessee of the obligations of Lessee under this Lease, (ii) release Lessee of any obligations hereunder, <br />or (iii) alter the liability of Lessee for the payment of Rent or for the performance of any other obligations to be performed by Lessee. <br />(b) Lessor may accept Rent or performance o1Les'see's obligations from any person other than Lessee pending <br />approval or disapproval of an assignment. Neither a delay in the approval or disapproval of such assignment nor the acceptance of <br />Rent or performance shall constitute a waiver or estoppel of Lessor's risk[ to exercise its remedies for Lessee's Delaull or Breach. <br />(c) Lessor's consent to any assignment or subletting shall not constitute a consent to any subsequent assignment <br />or subletting. <br />(d) In the event of any Default or Breach by Lessee, Lessor may proceed directly against Lessee, any Guarantors <br />or anyone else responsible for the performance of Lessee's obligations under this Lease, including any assignee or sublessee, without <br />first exhausting Lessor's remedies against any other person or entity responsible therefore to Lessor, or any security held by Lessor. <br />(e) Each request for consent to an assignment or subletting shall be in writing, accompanied by information <br />relevant to Lessor's determination as to the rinancial and operational responsibility and appropriateness of the proposed assignee or <br />sublessee, including but not limited to the intended use and/or required modification of' the Premises, if any, together with a fee of <br />$1,000.00 as consideration for Lessor's considering and processing said request. Lessee agrees to provide Lessor with such other or <br />additional information and/or documentation as may be reasonably requested. (See also Paragraph 35) <br />(t) Any assignee of, or sublessee under, this Lease shall, by reason of accepting such assignment, entering into <br />such sublease, or entering into possession of the Premises or any portion thereof, be deemed to have assumed and agreed to conform <br />and comply with each and every term, covenant, condition and obligation herein to be observed or performed by Lessee during the tern <br />ol'said assignment or sublease, other than such obligations as are contrary to or inconsistent with provisions clan assignment orsublease <br />to which Lessor has specifically consented to in writing. <br />(g) Lessor's consent to any assignment or subletting shall not transfer to the assignee or sublessee any Option <br />granted to the original Lessee by this Lease unless such transfer is specifically consented to by Lessor in writing. <br />12.3 Additional Terms and Conditions Applicable to Subletting. The following terms and conditions shall apply to any <br />subletting by Lessee of all or any part of the Premises and shall be deemed to be included in all subleases under this Lease whether or <br />not expressly incorporated therein: <br />(a) Lessee hereby assigns and transfers to Lessor all of Lessee's interest in all Rent payable on any sublease, and <br />Lessor may collect such Rent and apply same toward Lessee's obligations under this Lease; provided, however, that until a <br />Breach shall occur in [he performance of Lessee's obligations, Lessee may collect said Rent. In the event that the amount <br />collected by Lessor exceeds Lessee's then outstanding obligations any such excess shall be refunded to Lessee. Lessor shall not, by <br />reason or the foregoing or any assignment orsuch sublease, nor by reason orthe collection or Rent, be deemed liable to the sublessee <br />14 <br />