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SECTION 10.3 Successor and Assigns.

This Agreement shall be binding upon and shall inure to the benefit of, and be enforceable by, the permitted successors and assignees of the parties hereto. Each of the Partnership and MSG may assign this Agreement (in whole or in part) only upon full compliance with this Section and with the prior written consent (which consent may not be unreasonably withheld) of the other party hereto. Notwithstanding the foregoing: (a) MSG shall have the unrestricted right to assign this Agreement (in whole or in part) to any affiliate entity which is controlled by its ultimate parent corporation, Gult+Western, Inc., without the consent of the Partnership and (b) the Partnership shall have the unrestricted right to assign this Agreement (in whole or in part) in connection with (i) a transfer of the Partner’s interest to any member of the Steinbrenner family or (ii) the conversion of the Partnership to a corporation or (iii) the sale, exchange or transfer of a limited partners or, after such conversion, shares or shareholders, as relevant. To be effective, any assignment made hereunder must (whether or not consent is required hereunder) meet each of the following requirements: (i) Such assignment must be made upon and be subject to all the terms and conditions of this Agreement; (ii) The assignee must assume by written recordable instrument all of the obligations of the assignor under this Agreement; (iii) An executed original counterpart of the written assignment referred to above and of any assumption agreement or other contract between the assignor and assignee pertaining to this Agreement shall be delivered to the other party to this Agreement; and (iv) At the time of and immediately after such assignment, no material breach or default by the assignor under this Agreement shall exist and be continuing. In any event, any assignor or purported assignor shall remain fully bound and liable under this Agreement. In the event, during the term of this Agreement, MSG is sold or is transferred in any manner to a non-affiliated Person which Gulf+Western, Inc. does not have ownership control of, then in order for that sale to be effective without the consent of the Partnership, each of the following requirements must be met: (i) Such sale or transfer must be made upon and be subject to all the obligations of this Agreement; (ii) The purchaser or transferee must assume by written instrument all of the obligations of this Agreement; (iii) At the time of and immediately after such sale or transfer, no material breach or default by MSG under this Agreement shall exist and be continuing; (iv) Gulf+Western, Inc. shall remain fully bound and liable under it Guaranty subject to its terms.

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