This office lease form contains a contractual right in the transfer clause for the landlord to withhold its consent for specific situations not usually prohibited under the reasonableness standard. The tenant shall neither assign the lease nor sublet all or a portion of the demised premises without the landlord's prior written consent. This form outlines the specific situation where the landlord may withhold such consent.
Puerto Rico Transfer Clause Containing a contractual Right for the Landlord to Withhold Consent
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Multi-State
Control #:
US-OL21013
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Word;
PDF
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The party refusing consent can only rely upon reasons which actually influenced the refusal at the time of the assignment, not afterthoughts. If a party does unreasonably withhold its consent, the party seeking consent is entitled to carry out the assignment as if consent had been given.
One of the most important elements of the franchise agreement is the transferability clause. The transferability clause spell out the terms under which a party can sell or otherwise transfer their interest in the franchise to another party.
The phrase is typically used in assignment clauses: No Party may assign rights or obligations of this Agreement without the consent of the other Party, which consent shall not unreasonably be withheld or delayed.
Whenever consent or approval of either party is required, that party shall not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth to the contrary.
