QUESTION

Should a ground lease give Landlord right to consent to an assignment by Tenant, which shall not be unreasonably withheld

Asked on May 07th, 2014 on Business Law - Texas
More details to this question:
Tenant wants to remove Landlord's "right of consent which shall not be unreasonably withheld" in the assignment language of a proposed long term ground lease agreement.. Tenant wants the unrestricted right to assign and reassign the leasehold interest to anyone ant anytime.
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1 ANSWER

Appellate Practice Attorney serving New York, NY
It is not uncommon, in fact it probably happens more often than not, that the lease provides that it can't be assigned without the landlord's consent.  However, the fact that the clause is common does not mean that the tenant has to agree to it, nor does the landlord have to agree to unrestricted assignment.  This is a matter for negotiation, just like any other term.  If one side is adamant, the other will have to decide if the issue is so important to them that they'll let the potential deal go.
Answered on May 07th, 2014 at 3:25 PM

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