Common use of Condition of Sublease Premises Clause in Contracts

Condition of Sublease Premises. Subtenant acknowledges that it is subleasing the Sublease Premises “AS IS” and to the best of Sublandlord’s information and belief, the Sublease Premises is in good repair and working order. Subtenant acknowledges that it has had access to the Sublease Premises prior to the Sublease Commencement Date and the opportunity to inspect the Sublease Premises to make its own determination regarding the present condition of the Sublease Premises. Accordingly, Sublandlord’sacknowledgement of condition, as expressly stated in this Article 19, is limited to defects that are known to Sublandlord.. Sublandlord lacks sufficient knowledge to make any representation or warranty about the Building outside of the Sublease Premises and consequently, except as expressly provided in this Article 19, makes no representation or warranty regarding such areas. Sublandlord is not obligated to perform any work of improvement, including repainting, to prepare the Sublease Premises for Subtenant’s occupancy. Sublandlord has provided Subtenant an inventory of the furniture, fixtures and equipment (“FF&E”) in the Sublease Premises. Not later than the date of full execution of this Sublease,, Subtenant will advise Sublandlord in writing which items of FF & E Subtenant would like removed from the Sublease Premises; Sublandlord will remove those items on or before the later of (i) the Sublease Commencement Date; or (ii) ten (10) business days of receipt of Subtenant’s request for removal of FF&E. Sublandlord will lease the remaining FF&E items on such inventory to Subtenant for one dollar ($1.00) per year Subtenant shall be solely responsible for upkeep, maintenance, repair and insuring all FF&E remaining in the Sublease Premises. Subtenant will promptly notify Sublandlord of any items of FF&E that are damaged and cannot be repaired and reimburse Sublandlord for such items. No FF&E may be removed from the Sublease Premises (other than for repair or maintenance) without Sublandlord’s prior written consent. In the event that Subtenant does not exercise the early termination option and is not in Default under the Master Lease or Sublease as of December 1, 2019, Sublandlord will sell Subtenant all FF&E for the sum of an additional dollar ($1.00). If Subtenant elects not to purchase the FF&E, Sublandlord shall remove all FF&E on the Sublease Expiration Date and repair all damage to the Premises caused by such removal. All FF&E is leased (and if sold, will be sold) to Subtenant “AS IS and WITH ALL FAULTS” with no warranties other than any manufacturers warranties, as may be in effect. Subtenant represents and warrants that they will continue existing and replacement service agreements for FF&E remaining in the Sublease Premises throughout the Sublease Term and will assume the applicable monthly service and maintenance charges, including without limitation, Sublandlord’s security system, CCTV system and card reader system. Upon request of Sublandlord, Subtenant will furnish evidence of such policies for service and maintenance of other information related to such FF&E as may be requested by Sublandlord. Subtenant acknowledges and agrees that Subtenant is not entitled to receive a tenant improvement allowance or any other allowance from Sublandlord or Landlord in connection with this Sublease. Subtenant is not authorized to make or do any alterations or improvements in or to the Sublease Premises without Sublandlord’s and Landlord’s consent as required by the Master Lease and this Sublease. Any improvements constructed to the Sublease Premises by Subtenant in accordance with this Sublease shall (i) be at Subtenant’s sole costs and expense; (ii) be subject to the approval and consent of the Sublandlord and Landlord pursuant to the Master Lease and this Sublease; (iii) be subject to removal by Subtenant at the expense of Subtenant at the end of the Sublease Term (unless Sublandlord or Landlord otherwise instructs Subtenant in writing or have been pre-approved as an improvement that does not require removal); and (iv) comply with all applicable Laws, ordinances and codes and all of the provisions of the Master Lease. Subtenant shall surrender the Sublease Premises to Sublandlord on the Sublease Expiration Date or such earlier termination date in the condition required by this Sublease and in accordance with the terms of the Master Lease, and in a broom-clean condition, normal wear and tear, casualty and condemnation, and damage by Landlord or Sublandlord excepted, and as set forth in Article 15 of the Master Lease, provided, however, that in no event shall Subtenant be required to remove any alterations or improvements to the Sublease Premises that were installed before the Sublease Commencement Date.

Appears in 2 contracts

Samples: Office Lease (CrowdStrike Holdings, Inc.), Office Lease (CrowdStrike Holdings, Inc.)

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Condition of Sublease Premises. Except for Sublandlord’s Work (as defined below), Subtenant acknowledges that it is subleasing the Sublease Premises “AS IS” and to the best of Sublandlord’s information and belief, the Sublease Premises is in good repair and working order. Subtenant acknowledges that it has had access to the Sublease Premises prior to the Sublease Commencement Date and the opportunity to inspect the Sublease Premises to make its own determination regarding the present condition will accept possession of the Sublease Premises. Accordingly, Sublandlord’sacknowledgement of Premised in their as-is condition, and that, as expressly stated in this Article 19, is limited to defects that are known to Sublandlord.. Sublandlord lacks sufficient knowledge to make any representation or warranty about the Building outside of the Sublease Premises and consequently, except as expressly provided in this Article 19herein, makes Sublandlord has made no representation representations or warranty regarding such areas. Sublandlord is not obligated to perform any work warranties concerning the condition of improvement, including repainting, to prepare the Building or the Sublease Premises or their fitness for Subtenant’s occupancypurposes. Sublandlord has provided Subtenant an inventory of Promptly following the furniture, fixtures and equipment (“FF&E”) in the Sublease Premises. Not later than the date of full execution and delivery of this Sublease,, Subtenant will advise Sublandlord in writing which items Master Landlord’s consent to this Sublease (and Sublandlord’s Work, if applicable), and receipt of FF & E Subtenant would like removed from the Sublease Premises; any necessary permits therefor, Sublandlord will remove those items commence construction of the additional offices and conference rooms as described on or before the later of Exhibit B (i) the Sublease Commencement Date; or (ii) ten (10) business days of receipt of “Sublandlord’s Work”). At Subtenant’s request for removal of FF&E. Sublandlord will lease the remaining FF&E items on such inventory to Subtenant for one dollar and at Subtenant’s sole cost and expense ($1.00) per year Subtenant shall be solely responsible for upkeep, maintenance, repair and insuring all FF&E remaining in the Sublease Premises. Subtenant will promptly notify Sublandlord of any items of FF&E that are damaged and cannot be repaired and reimburse Sublandlord for such items. No FF&E may be removed from the Sublease Premises (other than for repair or maintenance) without Sublandlord’s prior written consent. In the event that Subtenant does not exercise the early termination option and is not in Default under the Master Lease or Sublease except as of December 1, 2019, Sublandlord will sell Subtenant all FF&E for the sum of an additional dollar ($1.00provided below). If Subtenant elects not to purchase the FF&E, Sublandlord shall remove all FF&E on the Sublease Expiration Date and repair all damage to the Premises caused by such removal. All FF&E is leased (and if sold, will be sold) to Subtenant “AS IS and WITH ALL FAULTS” with no warranties other than any manufacturers warranties, as may be in effect. Subtenant represents and warrants that they will continue existing and replacement service agreements for FF&E remaining construct a lobby in the Sublease Premises throughout as shown on Exhibit C and construct those additional items listed on Exhibit D (collectively, the Sublease Term and will assume “Additional Work”) at the applicable monthly service and maintenance charges, including without limitation, same time as construction of Sublandlord’s security system, CCTV system Work pursuant to plans and card reader system. Upon request of Sublandlord, Subtenant will furnish evidence of such policies for service and maintenance of other information related to such FF&E as may be requested by Sublandlord. Subtenant acknowledges and agrees that Subtenant is not entitled to receive a tenant improvement allowance or any other allowance from Sublandlord or Landlord in connection with this Sublease. Subtenant is not authorized to make or do any alterations or improvements in or to the Sublease Premises without Sublandlord’s and Landlord’s consent as required by the Master Lease and this Sublease. Any improvements constructed to the Sublease Premises specifications provided by Subtenant in accordance with this Sublease and approved by Sublandlord (which consent shall (inot be unreasonably withheld) be at Subtenant’s sole costs and expense; (ii) be subject to the approval and consent of the Sublandlord and Master Landlord pursuant to the Master Lease and this Sublease; (iii) be subject to removal by Subtenant at the expense of Subtenant at the end of the Sublease Term (unless Sublandlord or Landlord otherwise instructs Subtenant in writing or have been pre-approved as an improvement that does not require removal); and (iv) comply with all applicable Laws, ordinances and codes and all of the provisions of the Master Lease. Subtenant shall surrender the Sublease Premises to Sublandlord on the Sublease Expiration Date or such earlier termination date in the condition required by this Sublease and in accordance with the terms of the Master Lease. Prior to commencement of the Additional Work, Sublandlord shall provide a cost estimate to Subtenant for the cost of the Additional Work, and in a broom-clean condition, normal wear and tear, casualty and condemnation, and damage by Landlord or Subtenant shall pay Sublandlord excepted, and as the amount set forth in Article 15 the cost estimate, less the amount of $20,000 (which $20,000 shall be paid by Sublandlord) within ten (10) days thereafter. Sublandlord shall have no obligation to commence the Additional Work until it has received such payment from Subtenant. After Sublandlord receives such payment, Sublandlord shall diligently pursue completion of the Master LeaseAdditional Work, provided, provided however, that failure to complete the Additional Work at the same time as Sublandlord’s Work shall not affect the Commencement Date as otherwise determined pursuant to Section 2 of this Sublease. Sublandlord agrees to provide to Subtenant the remnants, if any, that Sublandlord may possess (or can obtain from its general contractor without cost) of the existing carpeting in no event shall Subtenant be required to remove any alterations or improvements to the Sublease Premises that were installed before the Sublease Commencement DatePremises.

Appears in 1 contract

Samples: Sublease (Hollis Eden Pharmaceuticals Inc /De/)

Condition of Sublease Premises. Sub-Sublandlord warrants that all Building operating systems serving the Sublease Premises, including but not limited to all electrical, HVAC, plumbing and any other Building operating systems, shall be in good operating order and repair on the Sub-Sublease Commencement Date. In the event Sub-Subtenant determines that Sub-Sublandlord has not delivered the Sublease Premises to Sub-Subtenant in the condition required by the previous sentence, Sub-Subtenant shall have a thirty (30)- day period after the Sub-Sublease Commencement Date to notify Sub-Sublandlord in writing of those items or systems requiring repair, and Sub-Sublandlord shall have the necessary repairs made as soon as is reasonably practicable at no cost to Sub-Subtenant. Subject to Sub-Sublandlord's obligations under this Section 7 and Sub-Sublandlord's obligation to provide the Sublease Premises in "broom clean" condition, Sub-Subtenant acknowledges that it is sub-subleasing the Sublease Premises in its then-existing "AS IS” and to the best of Sublandlord’s information and belief, the Sublease Premises is in good repair and working order. Subtenant acknowledges that it has had access to the Sublease Premises prior to the Sublease Commencement Date and the opportunity to inspect the Sublease Premises to make its own determination regarding the present condition of the Sublease Premises. Accordingly, Sublandlord’sacknowledgement of " condition, as expressly stated in this Article 19, and that Sub-Sublandlord is limited to defects that are known to Sublandlord.. Sublandlord lacks sufficient knowledge to make not making any representation or warranty about concerning the Building outside condition of the Sublease Premises and consequently, except as expressly provided in this Article 19, makes no representation or warranty regarding such areas. Sublandlord is not obligated to perform any work of improvement, including repainting, to prepare the Sublease Premises for Sub-Subtenant’s 's occupancy. Sublandlord has provided Subtenant an inventory of the furniture, fixtures and equipment (“FF&E”) in the Sublease Premises. Not later than the date of full execution of this Sublease,, Subtenant will advise Sublandlord in writing which items of FF & E Subtenant would like removed from the Sublease Premises; Sublandlord will remove those items on or before the later of (i) the Sublease Commencement Date; or (ii) ten (10) business days of receipt of Subtenant’s request for removal of FF&E. Sublandlord will lease the remaining FF&E items on such inventory to Subtenant for one dollar ($1.00) per year Subtenant shall be solely responsible for upkeep, maintenance, repair and insuring all FF&E remaining in the Sublease Premises. Subtenant will promptly notify Sublandlord of any items of FF&E that are damaged and cannot be repaired and reimburse Sublandlord for such items. No FF&E may be removed from the Sublease Premises (other than for repair or maintenance) without Sublandlord’s prior written consent. In the event that Subtenant does not exercise the early termination option and is not in Default under the Master Lease or Sublease as of December 1, 2019, Sublandlord will sell Subtenant all FF&E for the sum of an additional dollar ($1.00). If Subtenant elects not to purchase the FF&E, Sublandlord shall remove all FF&E on the Sublease Expiration Date and repair all damage to the Premises caused by such removal. All FF&E is leased (and if sold, will be sold) to Subtenant “AS IS and WITH ALL FAULTS” with no warranties other than any manufacturers warranties, as may be in effect. Subtenant represents and warrants that they will continue existing and replacement service agreements for FF&E remaining in the Sublease Premises throughout the Sublease Term and will assume the applicable monthly service and maintenance charges, including without limitation, Sublandlord’s security system, CCTV system and card reader system. Upon request of Sublandlord, Subtenant will furnish evidence of such policies for service and maintenance of other information related to such FF&E as may be requested by Sublandlord. Sub-Subtenant acknowledges and agrees that Subtenant is not entitled to receive a tenant improvement allowance or any other allowance from Sublandlord or Landlord in connection with this Sublease. Subtenant it is not authorized to make or do any alterations or improvements in or to the Sublease Premises without except as permitted by the provisions of this Sub-Sublease, the Sublease and the Master Lease and that Sub-Subtenant must deliver the Sublease Premises to Sub-Sublandlord on the Sub-Sublease Expiration Date in the condition required by Paragraph 31 of this Sub-Sublease, reasonable wear and tear and casualty excepted; provided, however, that prior to undertaking any improvements to or alterations of the Sublease Premises, Sub-Sublandlord agrees to not unreasonably withhold or delay such approval. The foregoing shall not release Sub-Subtenant from the obligation to obtain Sublandlord’s and 's or Landlord’s 's prior consent as required by the Master Lease and this Sublease. Any improvements constructed to the Sublease Premises by Subtenant in accordance with this Sublease shall (i) be at Subtenant’s sole costs and expense; (ii) be subject to the approval and consent of the Sublandlord and Landlord pursuant to the Master Lease and this Sublease; (iii) be subject to removal by Subtenant at the expense of Subtenant at the end of the Sublease Term (unless Sublandlord or Landlord otherwise instructs Subtenant in writing or have been pre-approved as an improvement that does not require removal); and (iv) comply with all applicable Laws, ordinances and codes and all of the provisions of the Master Lease. Subtenant shall surrender the Sublease Premises to Sublandlord on the Sublease Expiration Date or such earlier termination date in the condition required by this Sublease and in accordance with the terms of the Master Lease, respectively. Sub-Subtenant shall be responsible for any and in a broom-clean condition, normal wear and tear, casualty and condemnation, and damage by Landlord or Sublandlord excepted, and as set forth in Article 15 all costs due to any noncompliance of the Master Lease, provided, however, that in no event shall Subtenant be required to remove any alterations or improvements to the Sublease Premises that were installed before (other than as due to or caused by Sub-Sublandlord prior to the Sub-Sublease Commencement Date) with applicable laws, codes and ordinances to the extent that Sub-Sublandlord has such responsibility under the Sublease.

Appears in 1 contract

Samples: Sub Sublease Agreement (Etoys Inc)

Condition of Sublease Premises. Subtenant acknowledges that it is subleasing the Sublease Premises “AS ISas-is” and to the best of Sublandlord’s information and belief, the Sublease Premises that Sublandlord is in good repair and working order. Subtenant acknowledges that it has had access to the Sublease Premises prior to the Sublease Commencement Date and the opportunity to inspect the Sublease Premises to make its own determination regarding the present condition of the Sublease Premises. Accordingly, Sublandlord’sacknowledgement of condition, as expressly stated in this Article 19, is limited to defects that are known to Sublandlord.. Sublandlord lacks sufficient knowledge to make not making any representation or warranty about concerning the Building outside condition of the Sublease Premises and consequently, except as expressly provided in this Article 19, makes no representation or warranty regarding such areas. that Sublandlord is not obligated to perform any work of improvement, including repainting, to prepare the Sublease Premises for Subtenant’s occupancy. Notwithstanding the foregoing, Sublandlord has provided Subtenant an inventory of the furniture, fixtures and equipment (“FF&E”) in shall deliver the Sublease PremisesPremises with the base building systems in good working condition; and if the base building systems are not so delivered, Sublandlord shall cause such building systems to be repaired at no expense to Subtenant within a reasonable time after Sublandlord’s receipt of a written request from Subtenant. Not later than Subtenant acknowledges that any supplemental systems, including but not limited to supplemental cooling and wiring for voice or data, on the date Sublease Premises are provided to Subtenant in “as-is” condition and that Sublandlord is not making any representation or warranty concerning the condition of full execution these supplemental systems. The responsibility for the maintenance of these supplemental systems shall be the sole responsibility of Subtenant throughout the Term of this Sublease,, . Unless Subtenant will advise provides written notice to Sublandlord in writing which items of FF & E Subtenant would like removed from any unsatisfactory conditions of the Sublease Premises; Sublandlord will remove those items on or before the later Premises within forty-five (45) days of (i) the Sublease Commencement Date; or (ii) ten (10) business days of receipt of Subtenant’s request for removal of FF&E. Sublandlord will lease the remaining FF&E items on such inventory to Subtenant for one dollar ($1.00) per year , Subtenant shall be solely responsible for upkeep, maintenance, repair conclusively deemed to have accepted the Sublease Premises and insuring to have waived all FF&E remaining in claims relating to the condition of the Sublease Premises. Subtenant will promptly notify Sublandlord of any items of FF&E that are damaged and cannot be repaired and reimburse Sublandlord for such items. No FF&E may be removed from the Sublease Premises (other than for repair or maintenance) without Sublandlord’s prior written consent. In the event that Subtenant does not exercise the early termination option and is not in Default under the Master Lease or Sublease as of December 1, 2019, Sublandlord will sell Subtenant all FF&E for the sum of an additional dollar ($1.00). If Subtenant elects not to purchase the FF&E, Sublandlord shall remove all FF&E on the Sublease Expiration Date and repair all damage to the Premises caused by such removal. All FF&E is leased (and if sold, will be sold) to Subtenant “AS IS and WITH ALL FAULTS” with no warranties other than any manufacturers warranties, as may be in effect. Subtenant represents and warrants that they will continue existing and replacement service agreements for FF&E remaining in the Sublease Premises throughout the Sublease Term and will assume the applicable monthly service and maintenance charges, including without limitation, Sublandlord’s security system, CCTV system and card reader system. Upon request of Sublandlord, Subtenant will furnish evidence of such policies for service and maintenance of other information related to such FF&E as may be requested by Sublandlord. Subtenant acknowledges and agrees that Subtenant is not entitled to receive a tenant improvement allowance or any other allowance from Sublandlord or Landlord in connection with this Sublease. Subtenant is not authorized to make or do any alterations or improvements in or to the Sublease Premises without Sublandlord’s and Landlord’s consent as required by the Master Lease and this Sublease. Any improvements constructed to the Sublease Premises by Subtenant in accordance with this Sublease shall (i) be at Subtenant’s sole costs and expense; (ii) be subject to the approval and consent of the Sublandlord and Landlord pursuant to the Master Lease and this Sublease; (iii) be subject to removal by Subtenant at the expense of Subtenant at the end of the Sublease Term (unless Sublandlord or Landlord otherwise instructs Subtenant in writing or have been pre-approved as an improvement that does not require removal); and (iv) comply with all applicable Laws, ordinances and codes and all of the provisions of the Master Lease. Subtenant shall surrender the Sublease Premises to Sublandlord on the Sublease Expiration Date or such earlier termination date in the condition required by this Sublease and in accordance with the terms of the Master Lease, and in a broom-clean condition, normal wear and tear, casualty and condemnation, and damage by Landlord or Sublandlord excepted, and as set forth in Article 15 of the Master Lease, provided, however, that in no event shall Subtenant be required to remove any alterations or improvements to the Sublease Premises that were installed before the Sublease Commencement Date.

Appears in 1 contract

Samples: Sublease Agreement (Responsys Inc)

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Condition of Sublease Premises. Subtenant acknowledges that it is subleasing the Sublease Premises “AS IS” and to in the best of Sublandlord’s information and belief, "as-is" condition (the Sublease Premises is in good repair and working order. Subtenant acknowledges that it has had access to the Sublease Premises prior to the Sublease Commencement Date and the opportunity to inspect the Sublease Premises to make its own determination regarding the present condition "Initial Walk-Through Date") existing as of the date of execution of this Sublease Premises. Accordinglyand that except as provided herein, Sublandlord’sacknowledgement of condition, as expressly stated in this Article 19, Sublandlord is limited to defects that are known to Sublandlord.. Sublandlord lacks sufficient knowledge to make not making any representation or warranty about concerning the Building outside condition of the Sublease Premises and consequently, except as expressly provided in this Article 19, makes no representation or warranty regarding such areas. that Sublandlord is not obligated to perform any work of improvement, including repainting, to prepare the Sublease Premises for Subtenant’s 's occupancy. On the Initial Walk-Through Date, Sublandlord has provided Subtenant an inventory of the furniture, fixtures and equipment (“FF&E”) in the Sublease Premises. Not later than the date of full execution of this Sublease,, Subtenant will advise Sublandlord in writing which items of FF & E Subtenant would like removed from the Sublease Premises; Sublandlord will remove those items on or before the later of (i) the Sublease Commencement Date; or (ii) ten (10) business days of receipt of Subtenant’s request for removal of FF&E. Sublandlord will lease the remaining FF&E items on such inventory to Subtenant for one dollar ($1.00) per year Subtenant shall be solely responsible for upkeep, maintenance, repair walk-through and insuring all FF&E remaining in inspect the Sublease Premises. Subtenant will promptly notify Sublandlord of any items of FF&E acknowledges that are damaged and cannot be repaired and reimburse Sublandlord for such items. No FF&E may be removed from the Sublease Premises (other than for repair or maintenance) without Sublandlord’s prior written consent. In the event that Subtenant does not exercise the early termination option and is not in Default under the Master Lease or Sublease as of December 1, 2019, Sublandlord will sell Subtenant all FF&E for the sum of an additional dollar ($1.00). If Subtenant elects not to purchase the FF&E, Sublandlord shall remove all FF&E on the Sublease Expiration Date and repair all damage to the Premises caused by such removal. All FF&E is leased (and if sold, will be sold) to Subtenant “AS IS and WITH ALL FAULTS” with no warranties other than any manufacturers warranties, as may be in effect. Subtenant represents and warrants that they will continue existing and replacement service agreements for FF&E remaining in the Sublease Premises throughout the Sublease Term and will assume the applicable monthly service and maintenance charges, including without limitation, Sublandlord’s security system, CCTV system and card reader system. Upon request of Sublandlord, Subtenant will furnish evidence of such policies for service and maintenance of other information related to such FF&E as may be requested by Sublandlord. Subtenant acknowledges and agrees that Subtenant is not entitled to receive a tenant improvement allowance or any other allowance from Sublandlord or Landlord in connection with this Sublease. Subtenant it is not authorized to make or do any alterations or improvements in or to the Sublease Premises without Sublandlord’s except as permitted by the provisions of this Sublease and Landlord’s consent as required by the Master Lease and this Sublease. Any improvements constructed to the Sublease Premises by Subtenant in accordance with this Sublease shall (i) be at Subtenant’s sole costs and expense; (ii) be subject to the approval and consent of the Sublandlord and Landlord pursuant to the Master Lease and this Sublease; (iii) be subject to removal by Subtenant at the expense of Subtenant at the end of the Sublease Term (unless Sublandlord or Landlord otherwise instructs Subtenant in writing or have been pre-approved as an improvement that does not require removal); and (iv) comply with all applicable Laws, ordinances and codes and all of the provisions of the Master Lease. Subtenant shall surrender it must deliver the Sublease Premises to Sublandlord on the Sublease Expiration Date or such earlier termination date in the its current condition required by this Sublease and in accordance with the terms of the Master Lease, and in a broom-clean condition, subject to normal wear and tear, casualty and condemnation, and damage by Landlord or Sublandlord excepted, and as set forth in Article 15 of the Master Lease, provided, however, that in no event shall Subtenant be required to remove any alterations or improvements . Prior to the Sublease Premises that were installed before Premise Delivery Date Sublandlord shall, at the sole cost and expense of Sublandlord, remove all existing furniture, work stations and equipment, with the exception of the existing card key security system. If Sublandlord fails to comply with the foregoing obligations, Subtenant shall have the option of removing all such furniture, work stations or equipment and thereafter deducting the costs and expenses related thereto from the Base Rent payable to Sublandlord hereunder. On the Sublease Commencement Premises Delivery Date, Sublandlord and Subtenant shall walk-through and inspect the Sublease Premises and shall mutually execute a punch list identifying the variances between the condition and status of the Sublease Premises as of Initial Walk-Through Date compared to the condition and status of the Sublease Premises as of the Sublease Premises Delivery Date.

Appears in 1 contract

Samples: Sublease Agreement (Ticketmaster)

Condition of Sublease Premises. Subtenant acknowledges that it is subleasing the Sublease Premises “AS IS” and to the best of Sublandlord’s information and belief, the Sublease Premises is in good repair and working order. Subtenant acknowledges that it has had access to the Sublease Premises prior to the Sublease Commencement Date and the opportunity to inspect Sublandlord shall deliver the Sublease Premises to make its own determination regarding Subtenant with the present condition of the Sublease Premises. Accordinglyheating, Sublandlord’sacknowledgement of conditionventilation, as expressly stated in this Article 19air conditioning, is limited to defects that are known to Sublandlord.. Sublandlord lacks sufficient knowledge to make any representation or warranty about the Building outside plumbing, and electrical systems of the Sublease Premises in good working condition and consequentlyrepair. To the best knowledge of Sublandlord, except as expressly provided in this Article 19the roof, makes no representation or warranty regarding such areas. Sublandlord is not obligated to perform any work landscaping, structural components and parking areas of improvement, including repainting, to prepare the Sublease Premises for Subtenant’s occupancy. Sublandlord has provided Subtenant an inventory of the furniture, fixtures are in good working condition and equipment (“FF&E”) in the Sublease Premises. Not later than the date of full execution of this Sublease,, Subtenant will advise Sublandlord in writing which items of FF & E Subtenant would like removed from the Sublease Premises; Sublandlord will remove those items on or before the later of (i) the Sublease Commencement Date; or (ii) ten (10) business days of receipt of Subtenant’s request for removal of FF&E. Sublandlord will lease the remaining FF&E items on such inventory to Subtenant for one dollar ($1.00) per year Subtenant shall be solely responsible for upkeep, maintenance, repair and insuring all FF&E remaining in the Sublease Premises. Subtenant will promptly notify Sublandlord of any items of FF&E that are damaged and cannot be repaired and reimburse Sublandlord for such items. No FF&E may be removed from the Sublease Premises (other than for repair or maintenance) without Sublandlord’s prior written consent. In the event that Subtenant does not exercise the early termination option and is not in Default under the Master Lease or Sublease as of December 1, 2019, Sublandlord will sell Subtenant all FF&E for the sum of an additional dollar ($1.00). If Subtenant elects not to purchase the FF&E, Sublandlord shall remove all FF&E on the Sublease Expiration Date and repair all damage to the Premises caused by such removal. All FF&E is leased (and if sold, will be sold) to Subtenant “AS IS and WITH ALL FAULTS” with no warranties other than any manufacturers warranties, as may be in effect. Subtenant represents and warrants that they will continue existing and replacement service agreements for FF&E remaining in the Sublease Premises throughout the Sublease Term and will assume the applicable monthly service and maintenance charges, including without limitation, Sublandlord’s security system, CCTV system and card reader system. Upon request of Sublandlord, Subtenant will furnish evidence of such policies for service and maintenance of other information related to such FF&E as may be requested by Sublandlordrepair. Subtenant acknowledges and agrees that Subtenant is Sublandlord shall have the right, but not entitled the obligation, to receive a tenant improvement allowance remove or any other allowance from Sublandlord or Landlord disable the existing security system in connection with this Sublease. Subtenant is not authorized to make or do any alterations or improvements in or to the Sublease Premises without Sublandlord’s and Landlord’s consent as required by prior to delivering possession of the Master Lease and this SubleaseSublease Premises to Subtenant. Any improvements constructed to The taking of possession of the Sublease Premises by Subtenant in accordance with this Sublease shall (i) be at Subtenant’s sole costs and expense; (ii) be subject to the approval and consent of the Sublandlord and Landlord pursuant to the Master Lease and this Sublease; (iii) be subject to removal constitute an acknowledgment by Subtenant at the expense of Subtenant at the end of the Sublease Term (unless Sublandlord or Landlord otherwise instructs Subtenant in writing or have been pre-approved as an improvement that does not require removal); and (iv) comply with all applicable Laws, ordinances and codes and all of the provisions of the Master Lease. Subtenant shall surrender the Sublease Premises are in good working condition and repair, and that all work and materials provided by Sublandlord, Master Sublandlord and Master Landlord are satisfactory, except as to any defect agreed to in writing by Sublandlord and Subtenant at a walk through to be conducted prior to transfer of possession, and any latent defects that are described in written notice given by Subtenant to Sublandlord on the Sublease Expiration Date or such earlier termination date in the condition required by this Sublease and in accordance with the terms not later than sixty (60) days after delivery of the Master Lease, and in a broom-clean condition, normal wear and tear, casualty and condemnation, and possession to Subtenant. Any damage by Landlord or Sublandlord excepted, and as set forth in Article 15 of the Master Lease, provided, however, that in no event shall Subtenant be required to remove any alterations or improvements to the Sublease Premises caused by Subtenant's move-in shall be repaired or corrected by Subtenant at its expense. Subtenant acknowledges that were installed before neither Sublandlord nor its agents have made any representations or warranties as to the suitability or fitness of the sublease Premises for the conduct of Subtenant's business or for any other purposes. Except as otherwise expressly set forth herein, the Sublease Commencement DatePremises shall be delivered by Sublandlord to Subtenant AS IS and Subtenant agrees that it takes possession of the Sublease Premises without relying on any representation or warranty by Sublandlord as to the condition of the Sublease Premises other than as expressly specified herein.

Appears in 1 contract

Samples: Sub Sublease Agreement (Remedy Corp)

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