SAMPLE CLAUSE DECLARING CERTAIN OWNERSHIP TRANSFERS
TO BE AN ASSIGNMENT
If Tenant is a partnership, a withdrawal or change, voluntary, involuntary or by operation of law of any partner, or the dissolution of the partnership, shall be deemed a voluntary assignment. If Tenant consists of more than one person, a purported assignment, voluntary or involuntary or by operation of law from one person to the other shall be deemed a voluntary assignment. If Tenant is a corporation, partnership, limited liability company, or other business entity, any dissolution, merger, consolidation or other reorganization of Tenant, or sale or other transfer of 25% or more of the equity interests of Tenant, or the sale of at least 25% of the value of the assets of Tenant shall be deemed a voluntary assignment. The requirements of this paragraph shall not apply to corporations the stock of which is traded through an exchange or over the counter.