Subject to the terms of the lease, a transfer of either the lessor's or the lessee's interest in a lease.
A requirement as a condition of making a loan that the lender has control of leases, with covenants requiring the lenders consent on any modifications or changes in the lease; also, to assure mortgage payments, rental payments sometimes are made directly to the mortgagee.
A tenant transfers the entire leasehold interest to another. The assignee becomes the new tenant. NOTE: Not a Sublease.
A mortgage clause that passes control of leases on an income producing property to the lender. Often a condition to making a loan to ensure, in the case of mortgage default, that any continuing income from the property goes directly to the lender.
Subject to the terms of the lease, a transfer of either the lessors or the lessees interest in a lease.