Exhibit 10.40
TENANT ORIGINAL
ASSIGNMENT AND
CONSENT TO ASSIGNMENT OF
SUBLEASE
THIS ASSIGNMENT AND CONSENT TO
ASSIGNMENT OF SUBLEASE (this “Consent”) is made as of
the 18 th
day of August, 2006, by and among
DBSI HOUSING, INC., as successor in interest to The Arbors
of Brookhollow Operating Partnership, LTD (“Landlord”);
ASCENSION CAPITAL GROUP, LTD., (“Assignor”);
ENCORE CAPITAL GROUP, INC. (“Encore”);
ASCENSION ACQUISITION, L.P. (“Assignee”); and
SOUTHWESTERN BELL TELEPHONE, L.P. (
“Tenant” ).
RECITALS:
A. WHEREAS, Landlord and Tenant,
successor in interest to Southwestern Bell Telephone Company
(“Original Tenant”), are parties to that certain Lease
Agreement dated September 26, 2000 (the “Lease”).
Terms not otherwise defined in this Consent are defined in the
Lease; and
B. WHEREAS, Landlord lease to Tenant
certain premises consisting of approximately 85,893 rentable square
feet (the “Tenant’s Premises”) of that certain
building located at 2201 East Lamar Boulevard, Arlington, Texas,
attached hereto as Exhibit “A”; and
C. WHEREAS, Tenant subleased
approximately 28,603, rentable square feet on the second floor of
the Building (the “Premises”), located within the
Tenant’s Premises, to Assignor, pursuant to the Sublease
dated as of February 12, 2004, by and between Tenant and
Assignor (the “Sublease”), attached hereto as Exhibit
“B”; and
D. WHEREAS, Assignor and Assignee
intend to enter into an Asset Purchase Agreement (“the
Purchase Agreement”), pursuant to which Assignor will
transfer substantially all of its assets to Assignee, the
consummation of which (the “Closing”) is scheduled to
occur on or about August 17, 2005; and
E. WHEREAS, is connection with the
purchase Agreement, Assignor wishes to assign to Assignee and
Assignee wishes to assume from Assignor the Sublease as of Closing,
which assignment and assumption is conditioned upon and shall be
effective only in the event of the Closing; and
F. WHEREAS, Assignor has asked
Landlord and Tenant to consent to the assignment of the Sublease
(“Assignment to Sublease”) to Assignee.
NOW, THEREFORE,
Landlord and Tenant each hereby
consents to the Assignment of Sublease of the Premises to Assignee,
such consent being subject to and upon the following terms and
conditions to each of which Assignor and Assignee expressly
agree.
1. Assignment of Sublease .
Assignor hereby transfers and assigns to Assignee all of its right,
title, and interest to and under the Sublease effective as of the
date of the Closing, to have and to hold the same for and during
the remainder of the term(s) mentioned in such Sublease, subject to
the covenants and conditions therein mentione