CA » Topics » ASSIGNMENT

This excerpt taken from the CA 8-K filed Aug 21, 2006.

ASSIGNMENT

Lessee may assign this Lease to any Person without the consent of Lessor provided that, as of the effective date of the assignment, no Event of Default then exists.  Any assignee shall assume any obligations of Lessee arising from and after the effective date of the assignment.  Such assignment shall not release the Lessee named herein from its primary liability for the performance of its duties and obligations under this Lease, and the Lessee named herein (and all subsequent assignees) shall continue to be obligated for all obligations of “Lessee” in this Lease, which obligations shall continue in full effect as obligations of a principal and not of a guarantor or surety, as though no assignment had been made.  Any assignor of this Lease who so requests in writing of Lessor will have the right, subsequent to any assignment, (a) to receive a duplicate copy of each notice of default hereunder sent by Lessor to the Lessee from time to time (and no such notice shall be effective as against such Lessee unless and  until such copy has been delivered to such assignor in accordance with the provisions of Section 25.2), and (b) to cure any default by such Lessee under this Lease within the cure period provided for hereunder.  To the extent an assignor of this Lease performs on behalf of Lessee the obligations of Lessee hereunder, such assignor shall be subrogated to the rights of Lessor (provided that such assignor may not claim or collect on such subrogated right unless Lessor shall have received all amounts then due and payable to Lessor from Lessee).

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