Common use of Basic Sublease Provisions Clause in Contracts

Basic Sublease Provisions. 1.1 Subtenant, as defined herein, expressly acknowledges and recognizes that as a condition subsequent to the execution of this Sublease, Sublandlord, as defined herein, must comply Article 6 of the Master Lease, which such provision is expressly incorporated herein by reference. This Sublease is conditioned upon procuring the consent of Master Landlord to this Sublease in accordance with the Master Lease (the “Consent”), and Sublandlord and Subtenant shall cooperate with each other in seeking Master ▇▇▇▇▇▇▇▇’s Consent. Subtenant agrees to provide Sublandlord necessary support and documentation to procure the necessary Consent from the Master Landlord. In the event Master Landlord does not consent to the Sublease on or before fifteen (15) days immediately following the date of this Sublease (the “Consent Deadline”), Subtenant agrees that this Sublease is void and (i) all amounts previously paid by either party to the other on account of this Sublease shall be returned; and (ii) the parties thereupon shall be relieved of any further liability or obligation under this Sublease, except for those liabilities or obligations which have accrued and remain unperformed as of the date this Sublease is so terminated.

Appears in 2 contracts

Sources: Sublease (Upstream Bio, Inc.), Sublease (Upstream Bio, Inc.)