Common use of Direct Lease Clause in Contracts

Direct Lease. If Landlord shall recover or come into possession of the ------------ Subleased Premises before the stated expiration date of the Lease, Landlord shall have the right, but not the obligation, to take over the Sublease and to succeed to all rights of Tenant thereunder, Tenant hereby assigning (effective as of the date of Landlord's succession to Tenant's estate in the Subleased Premises) the Sublease if Landlord shall elect to take over. The subletting thereunder is subject to the condition that, from and after the termination of the Lease or re-entry by Landlord thereunder or other succession by Landlord to Tenant's estate in the Subleased Premises, Subtenant hereby waives any right to surrender possession or to terminate the Sublease and, at Landlord's election, shall be bound to Landlord for the balance of the term thereof and shall attorn to and recognize Landlord as its landlord, under all of the then executory terms of the Sublease, except that Landlord shall not be (a) liable for any previous act, omission or negligence of Tenant under the Sublease, (b) subject to any counterclaim, defense or offset theretofore accruing to Subtenant against Tenant, (c) bound by any previous modification or amendment of the Sublease made without Landlord's consent or by any previous prepayment of more than one month's rent and additional rent unless paid as provided in the Sublease, or (d) obligated to perform any repairs or other work in the Subleased Premises or the Building beyond Landlord's obligations under the Lease, and Subtenant shall execute and deliver such instruments as Landlord may reasonably request to evidence and confirm such attornment.

Appears in 1 contract

Sources: Sublease Agreement (Davox Corp)

Direct Lease. If Landlord shall recover or come into possession Subtenant agrees to accept an assignment of the ------------ Subleased Premises before the stated expiration date of the Lease, Landlord shall have the right, but not the obligation, to take over the Sublease and to succeed to all rights of Tenant thereunder, Tenant hereby assigning (effective as of the date of Landlord's succession to Tenant's estate in the Subleased Premises) the Sublease if Landlord shall elect to take over. The subletting thereunder is subject to the condition that, from and after the termination of the Main Lease or re-entry by Landlord thereunder or other succession by Landlord to Tenant's estate in the Subleased Premises, Subtenant hereby waives any right to surrender possession or to terminate the this Sublease andand execute a new direct lease with Overlandlord upon request of Sublessor and Subtenant agrees to execute any and all documents reasonably required by Overlandlord or Sublessor in connection with such assignment or new lease within thirty (30) days after request, at Landlord's electionincluding, shall be bound to Landlord for the balance of the term thereof and shall attorn to and recognize Landlord as its landlord, under without limitation: (a) an assumption agreement whereby Subtenant assumes all of the then executory terms obligations of the Sublease, except that Landlord shall not be (a) liable for any previous act, omission or negligence of Tenant Sublessor under the Sublease, Main Lease or such new lease and (b) subject upon request of Sublessor, a sublease to Sublessor of all or any part of the Subleased Premises then occupied by Sublessor under Paragraph 1(c) and 32 on the same terms and conditions applicable to such occupancy and the Leaseback; provided, however, that: (i) upon or prior to any counterclaim, defense or offset theretofore accruing to Subtenant against Tenant, (c) bound by any previous modification or amendment such assignment of the Sublease made without Landlord's consent or by any previous prepayment of more than one month's Main Lease, the Main Lease shall be amended to provide that the annual fixed rent and additional rent unless paid thereunder is not more than Fixed Rent and Additional Rent under this Sublease; (ii) the terms thereof are not materially and adversely different from the terms of this Sublease and the Main Lease and do not increase the obligations of Subtenant, as tenant thereunder, except as provided in the SubleaseParagraph 30(i), or decrease the rights of Subtenant, as tenant thereunder; (diii) obligated to perform such sublease shall be on the terms of the Leaseback (hereinafter defined); and (iv) upon any repairs such assignment or other work in the Subleased Premises or the Building beyond Landlord's new lease, Sublessor shall be released from all of its obligations under the Lease, Main Lease and Subtenant shall execute and deliver such instruments as Landlord may reasonably request to evidence and confirm such attornmentthis Sublease.

Appears in 1 contract

Sources: Sublease Agreement (He Ro Group LTD)