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assignment, transfer or sublease that is not permitted under this Lease and has not been authorized <br />by Lessor in writing shall be void. As used herein: <br />a.“Permitted Assignment” means the transfer of all of part of Lessee’s interest in this <br />Lease or all or part of the Leased Premises to the following types of entities without the <br />written consent of Lessor: <br />(1)Any transfer to a trust or other entity in connection with estate planning of <br />Lessee’s principal shareholder(s); <br />(2)Any transfer to an affiliate (by common ownership) or subsidiary of Lessee; <br />(3)Any transfer to a corporation, limited partnership, limitedliability partnership, <br />limited liability company or other business entity in which or with which Lessee, <br />or its corporate successors or assigns, is merged, consolidated or reorganized, so <br />long as Lessee’s obligations hereunder are assumed by the entity surviving such <br />merger or created by such consolidation or reorganization. <br />(4)Any transfer to a corporation, limited partnership, limited liability partnership, <br />limited liability company or other business entity acquiring all or substantially all <br />of Lessee’s or of Lessee’s business operations in the Leased Premises. <br />(5)Any transfer to a Qualified Lessee. <br />b.“Qualified Lessee” means a person or entity with a net worth equal to or greater than an <br />amount equal to three hundred percent (300%) of the then-unpaid Rent obligations of <br />Lessee hereunder. <br />14.04 <br />Assignment by Lessor. In the event of an assignment by Lessor of all of its interest in the Leased <br />Premises to a person or entity that assumes all of Lessor’s obligations pursuant to this Lease, <br />Lessee agrees to look solely to such assignee. <br />ARTICLE 15: EVENTS OF DEFAULT AND REMEDIES; TERMINATION <br />15.01 <br />Events of Default. The following events shall constitute “events of default” by Lessee under this <br />Lease: <br />a.Rent. Lessee fails to pay when due any rental or any other sums or charges due under <br />this Lease, and such failure continues for ten (10) days following written notice thereof <br />(provided, however, that Lessor shall be obligated to give only two such notices in any <br />calendar year, and after such two notices, Lessor will no longer be obligated to give any <br />other notice under this section within such calendar year). <br />b.Other Breaches. Failure by Lessee to observe or perform any of the covenants, <br />conditions or provisions of this Lease to be observed or performed by Lessee, other than <br />as described in subsection a above, where such failure continues for a period of thirty <br />(30) days after written notice by Lessor to Lessee; provided, if the nature of Lessee’s <br />obligation which it has failed to perform is such that more than thirty (30) days are <br />reasonablyrequired for its cure, then it shall not be deemed an event of default if Lessee <br />commences such cure within the thirty (30) day period and, having so commenced, <br />16 <br /> <br />