Wayne Michigan Transfer Clause Containing a contractual Right for the Landlord to Withhold Consent

State:
Multi-State
County:
Wayne
Control #:
US-OL21013
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Description

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.

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FAQ

Many legal documents, such as leases and contracts for deed, contain a transfer clause that states in effect that the property may be transferred only with the owner's consent, which consent shall not be unreasonably withheld. There is no acceptable definition of what is unreasonable.

The Transfer Clause. 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.

Whenever either Party requests any consent, permission, or approval which may be required or desired by that Party pursuant to the provisions of this Agreement, the other Party shall not unreasonably withhold or postpone the grant of such consent, permission, or approval.

Neither Party shall be entitled to assign, cede, sub-contract, delegate or in any other manner transfer any benefit, rights and/or obligations in terms of this Agreement, without the prior written consent of the other Party, which consent shall not be unreasonably withheld.

Verb (used with object), with·held, with·hold·ing. to hold back; restrain or check. to refrain from giving or granting: to withhold payment. to collect (taxes) at the source of income. to deduct (withholding tax) from an employee's salary or wages.

Introduction. In negotiating contracts, we so often come across provisions whereby one party has to seek the consent of the other for certain rights, and such consent is «not to be unreasonably withheld». When the contract is negotiated, the parties often will perceive that «reasonableness» will be their ally.

Whenever either Party requests any consent, permission, or approval which may be required or desired by that Party pursuant to the provisions of this Agreement, the other Party shall not unreasonably withhold or postpone the grant of such consent, permission, or approval.

1 tr to keep back; refrain from giving. he withheld his permission.

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Wayne Michigan Transfer Clause Containing a contractual Right for the Landlord to Withhold Consent