LAC 34:III.510. Assignment of Proceeds of Lease and Assignment of Lease

A. Assignments of Lease and Assignments of Proceeds of Lease by a lessor must be approved in advance and in writing by the Office of Facility Planning and Control―Real Estate Leasing Section. Approval of a requested assignment shall not be unreasonably or arbitrarily withheld by either party. However, the approval of any assignment of proceeds of lease may be conditioned upon receipt of reasonable assurances from assignee of his ability and willingness to assume responsibility for performance of the terms of the lease in the event of failure of performance by the assignor. Assignment of Lease Forms and Assignment of Proceeds of Lease Forms shall be provided by the Office of Facility Planning and Control, Real Estate Leasing Section.