|
. ? ?
<br />subsequent assignment, transfer, hypothecation, mortgaging or subletting, or as modifying or limiting the
<br />I,:indloril under I.hc foreKoinR covon:uit, by Tenant not to uasiRn, tr8nsfcr, hypothecate, morLgaRe, or
<br />:nch cunrwnl. 'fhV li•rni "tLssiun", av u4cd hcrcin, shull include:
<br />(i) An xtisiKnmenL uf a part interesL in this Lease, as well as any assignment from one Cotenant to
<br />.uiol her: and
<br />(ii) An assignment tu any prior owner of the Tenant's interest herein or part thereof.
<br />If Tenant is a i•urporation, an assignment within lhe meaning of this paragraph, shall be deemed to include, any
<br />iI issnl u t iom, nuerger, consol idat.ion, or other reorKanizalion of Tt: na nt, nr one or more transfers, by operation o[ Iaw
<br />or otherwise, of a controlling percentage of the capital stock of Tenant, or creation of new stock, by which an
<br />aKKre?,rate of more than fifty percent (5096) of Tenant's stock shall be vested in a party or parties who are not
<br />slockhulders as of the date hereof, or the sale of more than fifty percent (50%) of the value of the assets of Tenant.
<br />'Che phrasc "conlrull ing percentage" means the ownership of, and the right to vote, stock possessingat least fifty-
<br />one percent (51'z4 uf the total combined voting power of aU classes of Tenant's capital stock, issued, outstanding,
<br />and cnliUcd tu vut.e for lhe clection of lhe directors.
<br />ALTERATIONS 11. Tenant shall not make any alterations, changes, additions or improvements to the demised premises
<br />ADDITIONS
<br />AND without Landlord's written consent, and all alterations, changes, additions or improvements made by either of
<br />IMPROVEMENTS
<br />lhe parties hereto upon the demised premises, except movable office furniture and trade fixtures put in at the
<br />expense of Tenant, shall become the property of Landlord and shall remain upon and be surrendeted with the
<br />demised premises upon the expiration of this I,ease, or any sooner termination thereof, except as Landlord may
<br />elect otherwise as hereinafter provided. If Landlord shall so elect, then such alterations, changee, sdditiona or
<br />improvements made by Tenant upon the demised premiges, as Landlord shall eelect, ehall be removed by Tenant
<br />and Tenant shall restore the demised premises to the original condition thereof et itaown costand expenee within
<br />thirty (30) days after notice from Landlord of such election, such notice to be given not later than twenty(20) days
<br />followinq expiration of the term of this Lease. The movable furnitureand tradefixturesof Tenant, however, shall
<br />remain Tenant's property at all timea and shall be removed at the termination of this I,eaee, anydamyge to the
<br />premises in the course of such removal to be repaired by Tenant at Tenant'e own cost and expenee.
<br />RIGHT TO 12. ThisLeaseisandshallbesubjectandsubordinatetaaqmortgagesandgroundorunderlyingleaaeawhich
<br />MORTGAGE
<br />may now or hereafter affect the real property demised hereunder, and to sll renewala, modifications,
<br />consoliclations, replacements and extensions thereof. In corihrmation of sueh subordination, Tenant eovenants
<br />and aQrees lo execute and deliver upon demand such further instrumentor instruments subordinatingthis Lease
<br />tu the lien of any such mortgaqe or mortgages as shall be desired by Landlord, any mortgagees or ptoposed
<br />'• morcgagees. Tenant hereby irrevocably appoints Landlord the attorney-in-fact of Tenant to execute and deliver
<br />any ,uch instrument or instruments for and in the name of Tenant. Tenant further covenants and agrees to
<br />ezvcute upnn demand such further instrument or instruments (including cancellation and re-execution of this
<br />1.e:i,e xs a Sublease) necessary to create a sublease of the demised premises to Tenant upon the same terms and
<br />cnnditinns as are pruvided herein in the event that l.andlord effects a sale and leasebackof thedemised premises.
|