Common use of Short Term Subletting Clause in Contracts

Short Term Subletting. With Landlord’s prior consent which consent shall not be unreasonably withheld or delayed, Tenant can enter into a Sublease of one floor or less of Rentable Area with one (1) or more sublessees (but all of such subleases shall cover, individually or collectively, not greater than fifteen percent (15%) of Rentable Area in the aggregate at any given time) for a term of less than the lesser of (i) twenty-four (24) months or (ii) the remainder of the Term, provided that fifty percent (50%) of the Excess Rent received by Tenant shall be paid to Landlord as and when received by Tenant and Tenant shall be entitled to keep the remaining fifty percent (50%). If Landlord does not respond to Tenant’s written request to a proposed short term Sublease meeting the requirements set forth above, within ten (10) business days following receipt thereof, Landlord shall be deemed to have approved such short term Sublease. Except as expressly set forth in this Section 15.11 with respect to Tenant’s entitlement to 50% of the Excess Rent and the ten business day period within which Landlord is to approve or disapprove the proposed short-term Sublease, all of the other terms and conditions of this Article 15 shall be applicable to such short-term Sublease.