Common use of Effect of Lease Severance on the No-Consent Sublease Basket Clause in Contracts

Effect of Lease Severance on the No-Consent Sublease Basket. Each Severed Lease shall contain a “No-Consent Sublease Basket” (a “Severed Lease No-Consent Sublease Basket”) equal to twenty-five percent (25%) of the Gross Leasable Square Footage of the Severed Properties demised to the Severed Tenant under such Severed Lease, which reflects an increase of ten percent (10%) to the No-Consent Sublease Basket otherwise applicable to the Properties under this Lease (that are not Severed Properties). In exchange for Landlord’s agreement to provide the Severed Tenant with such effective increase to the Severed Lease No-Consent Sublease Basket hereunder, upon any Lease Severance Date, the total amount of Gross Leasable Square Footage that is then remaining (if any) for No-Consent Subleases under this Lease’s No-Consent Sublease Basket shall be reduced by an amount equal to twenty percent (20%) of the Gross Leasable Square Footage of the Severed Properties demised to the Severed Tenant under the applicable Severed Lease (the “20% Reduction Amount”). Notwithstanding the foregoing, (1) if Tenant entered into a No-Consent Sublease at any Property prior to the Lease Severance Date for such Property, the Gross Leasable Square Footage of the portion of the to-be Severed Property subleased under such previously-executed No-Consent Sublease that reduced the No-Consent Sublease Basket under this Lease (when such No-Consent Sublease was entered into), shall be excluded from the 20% Reduction Amount, and there shall be no further deduction to reflect the previously-executed No-Consent Sublease from the No-Consent Sublease Basket under this Lease when such Property becomes a Severed Property, and (2) the Severed Lease No-Consent Sublease Basket shall be reduced by any new No-Consent Sublease (inclusive, for the avoidance of doubt, of any amendment to an existing No-Consent Sublease increasing the Gross Leasable Square Footage demised thereunder) entered into from and after the applicable Lease Severance Date, it being understood and agreed that all No-Consent Subleases entered into pursuant to this Lease prior to the Lease Severance Date shall only reduce the No-Consent Sublease Basket under this Lease, and shall not reduce the Severed Lease No-Consent Sublease Basket under the applicable Severed Lease. By way of example, if Tenant enters into a No-Consent Sublease prior to the Lease Severance Date covering 15,000 Gross Leasable Square Feet at a 100,000 Gross Leasable Square Feet Property, then: (A) such 15,000 Gross Leasable Square Feet shall count against the No-Consent Sublease Basket under this Lease (as and when such No-Consent Sublease is entered into); (B) upon a Lease Severance Date with respect to such Property, the No-Consent Sublease Basket under this Lease shall be further reduced by 17,000 Gross Leasable Square Feet (i.e., 20% of 85,000 Gross Leasable Square Feet); and (C) the Severed Lease No-Consent Sublease Basket applicable to No-Consent Subleases entered into under the applicable Severed Lease from and after such Lease Severance Date shall be 21,250 Gross Leasable Square Feet (i.e., 25% of 85,000 Gross Leasable Square Feet).

Effect of Lease Severance on the No-Consent Sublease Basket. Each Severed Lease shall contain a “No-Consent Sublease Basket” (a “Severed Lease No-Consent Sublease Basket”) equal to twenty-five percent (25%) of the Gross Leasable Square Footage of the all Severed Properties demised to the Severed Tenant under such Severed Lease. For the avoidance of doubt, which reflects an increase (1) if a No-Consent Sublease is entered into with respect to a Property prior to such Property becoming a Severed Property, as of ten percent the Lease Severance Date, (10%I) to the No-Consent Sublease Basket otherwise applicable to for the Properties under remaining subject to this Lease shall not be reduced or increased as a result of such severance and (that are not Severed Properties). In exchange for Landlord’s agreement to provide the Severed Tenant with such effective increase to II) the Severed Lease No-Consent Sublease Basket hereunder, upon any for the Severed Property or Severed Properties subject to the Severed Lease Severance Date, the total amount of Gross Leasable Square Footage that is then remaining (if any) for Noshall remain at twenty-Consent Subleases under this Lease’s No-Consent Sublease Basket shall be reduced by an amount equal to twenty five percent (2025%) of the Gross Leasable Square Footage of the such Severed Property or Severed Properties demised to the Severed Tenant under the applicable such Severed Lease and (the “20% Reduction Amount”). Notwithstanding the foregoing, (12) if Tenant entered into a No-Consent Sublease at any is entered into with respect to a Severed Property prior to after the applicable Lease Severance Date for Date, such Property, the Gross Leasable Square Footage of the portion of the to-be Severed Property subleased under such previously-executed No-Consent Sublease that reduced shall not increase or decrease the No-Consent Sublease Basket under this Lease (when such No-Consent Sublease was entered into), and shall be excluded from solely reduce the 20% Reduction Amount, and there shall be no further deduction to reflect the previously-executed No-Consent Sublease from the No-Consent Sublease Basket Gross Leasable Square Footage available under this Lease when such Property becomes a Severed Property, and (2) the Severed Lease No-Consent Sublease Basket shall be reduced by any new No-Consent Sublease (inclusive, for the avoidance of doubt, of any amendment to an existing No-Consent Sublease increasing the Gross Leasable Square Footage demised thereunder) entered into from and after the applicable Lease Severance Date, it being understood and agreed that all No-Consent Subleases entered into pursuant to this Lease prior to the Lease Severance Date shall only reduce the No-Consent Sublease Basket under this Lease, and shall not reduce the such Severed Lease No-Consent Sublease Basket under the applicable Property or Severed Lease. By way of example, if Tenant enters into a No-Consent Sublease prior to the Lease Severance Date covering 15,000 Gross Leasable Square Feet at a 100,000 Gross Leasable Square Feet Property, then: (A) such 15,000 Gross Leasable Square Feet shall count against the No-Consent Sublease Basket under this Lease (as and when such No-Consent Sublease is entered into); (B) upon a Lease Severance Date with respect to such Property, the No-Consent Sublease Basket under this Lease shall be further reduced by 17,000 Gross Leasable Square Feet (i.e., 20% of 85,000 Gross Leasable Square Feet); and (C) the Severed Lease No-Consent Sublease Basket applicable to No-Consent Subleases entered into under the applicable Severed Lease from and after such Lease Severance Date shall be 21,250 Gross Leasable Square Feet (i.e., 25% of 85,000 Gross Leasable Square Feet)Properties.