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Question 1 of 3
Tenants and their leasing professionals should strongly consider adding the following leasing carve-out to the definition of assignment that would require landlord’s consent: “The direct or indirect sale of a non-controlling interest in tenant, regardless of the percentage of ownership transferred.”CorrectIncorrect
Question 2 of 3
Landlords should include in the lease that upon an assignment of the lease, they have the right to collect rent directly from the assignee.CorrectIncorrect
Question 3 of 3
In addition to trying to secure a landlord non-disturbance and attornment agreement (“NDA”) during the sublet consent process, potential subtenants should negotiate with the sublandlord that they can provide the security deposit in the form of a letter of credit to protect themselves in the event the sublandlord defaults under the master lease and/or goes bankrupt.CorrectIncorrect