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By its execution below, Landlord consents to this assignment of the Lease to Assignee and acknowledges the continuance of the Lease by and between Assignee and Landlord.
Landlord is not a party to the assignment and executes this document for the limited purpose of granting its consent.
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Landlord’s consent is conditioned upon payment by Landlord of all Rent and any other charges due under the Master Lease at the time of the assignment (notwithstanding that such charges may be billed following the date of the assignment).
With the legal statement as the beginning, the template of Assignment and Assumption Agreement consists of five main terms, namely, Assignment, Assumption, Effective Date, Successors, and Counterparts.
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Landlord’s consent shall not relieve or discharge Landlord from any of its obligations under the Master Lease, whether or not such Default should occur by fault of the Assignee.
The consent to this assignment shall not act as or be deemed as a waiver of Landlord’s right to consent to any subsequent assignment or lease in accordance with the terms of the Master Lease.