Need clarification on the risks involved in assigning a commercial lease.

This all depends on the terms of the assignment and any related agreements, including your present lease.   You can get more information from my  website.....http:/www.losanglesrealestateattorney.com   Mitchell Sussman

As the Lessee, you are obligated under the Lease for the full term, even if you sell your business and assign the Lease, unless the Lessor releases you (which is not unheard of, but is unlikely).  Your sales agreement can address this and include specific remedies in the event that your buyer does not perform under the Lease.  If the buyer does not pay the rent, you do not get the restaurant back unless your agreement with the buyer says that you do.  Likewise, you cannot force them out of the business or the premises if they did not pay ther rent.  You could try to negotiate something like that into the sales agreement, but it is unlikely a buyer would agree to such a term.  If the buyer defaults under the Lease, and you were held responsible by the Landlord, you would have a claim against your buyer for any amounts that you were required to pay under the Lease.  Bottom line:  If you assign a lease, you remain liable to the landlord through the term of the lease unless you secure an agreement from the landlord releasing you from further liability.