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assign this lease and transfer the Project to a wholly -owned <br />subsidiary of Lessee or to a limited partnership of which Lessee <br />or its wholly -owned subsidiary is a general partner. Lessor <br />shall have the right of approve the terms of Lessee's syndication <br />of its interests in the Project. If Lessor, in its sole <br />discretion, decides to approve an assignment of this Lease or an <br />interest therein, Lessor may require the following: (i) no <br />uncured event of default by Lessee exists under this Lease as of <br />the date of such assignment, (ii) the assignment shall be in <br />writing, duly executed and acknowledged by Lessee and the <br />assignee, in form satisfactory to Lessor, providing that the <br />assignee assumes and agrees to perform and observe all the <br />agreements, covenants and conditions of this Lease and all <br />conditions in the HDG Documents and Regulatory Agreement on the <br />part of Lessee to be performed and observed, (iii) an executed <br />original of such assignment shall be delivered to Lessor, and <br />(iv) the assignee shall be of creditworthiness and net worth <br />reasonably comparable to Lessee. Effective as of the date of any <br />such assignment, Lessee shall be released from all obligations <br />and liabilities thereafter arising under this Lease. Lessee <br />shall reimburse Lessor for all reasonable costs incurred by <br />Lessor in connection with Lessor's investigation of any proposed <br />assignee. <br />(b) Lessee shall have the right, in the regular and <br />ordinary course of its business of maintaining and operating the <br />Improvements on the Land, to sublease the Improvements for any <br />use permitted by Section 5 hereof; provided, however, that each <br />such sublease shall be subject and subordinate to this Lease and <br />the rights of Lessor hereunder. <br />27. Monwaiver. If any action or proceeding is instituted <br />or if any other steps are taken by Lessor or Lessee, and a <br />compromise, part payment or settlement thereof shall be made, the <br />same shall not constitute or operate as a waiver by Lessor or <br />Lessee of any agreement, covenant or condition of this Lease or <br />C:GDLEASE.EHI -40- <br />