Sub-Leases Clause Samples
The Sub-Leases clause defines the conditions under which a tenant is permitted to lease all or part of the leased premises to another party, known as a sub-tenant. Typically, this clause outlines whether the landlord’s consent is required, any restrictions on the type of sub-tenant, and the process for obtaining approval. For example, it may specify that the tenant must provide written notice and obtain the landlord’s written consent before entering into a sub-lease. The core function of this clause is to give the landlord control over who occupies the property, thereby protecting their interests and maintaining the intended use of the premises.
Sub-Leases. The Vendors and the Purchaser shall have negotiated and signed co-tenancy agreements terminable on thirty (30) days notice for (i) office space in Toronto; (ii) hosting of equipment in Toronto and New York; and (iii) bandwidth for providers in Toronto and New York.
Sub-Leases. (a) Seller and Purchaser shall use their respective reasonable best efforts to promptly negotiate in good faith and finalize the terms and conditions of each of the following within 30 days of the date hereof:
(i) A network lease agreement (the “Network Lease Agreement”) covering the subject matter (in addition to any other matter agreed by Seller and Purchaser) addressed in the agreement contained in Schedule 7.26 of Seller’s Disclosure Schedules; and
(ii) One or more customary lease or sub-lease agreements (in either case, the “Sub-Lease Agreements”) providing for (1) the lease or sub-lease (as applicable) of spaces listed on Schedule 7.26 of Seller’s Disclosure Schedules from Seller to ▇▇▇▇▇▇ ▇▇▇▇▇▇ and (2) the lease or sub-lease (as applicable) of spaces listed on Schedule 7.26 of Seller’s Disclosure Schedules from ▇▇▇▇▇▇ ▇▇▇▇▇▇ to Seller.
(b) On or prior to Closing, Seller shall cause ▇▇▇▇▇▇ ▇▇▇▇▇▇ to vacate all space currently occupied by ▇▇▇▇▇▇ ▇▇▇▇▇▇ at the locations listed on Schedule 7.26 of Seller’s Disclosure Schedules.
Sub-Leases. The following conditions shall be satisfied in relation to any Sub-Lease which is not a wet lease which satisfies the requirements of paragraph 4 (Wet Leases) below:
3.1 The Sub-Lease shall provide that:
(a) the Sub-Lease is subject and subordinate to the Lease in all respects and the rights of the Sub-Lessee under the Sub-Lease are subject and subordinate in all respects to the rights of the Lessor under the Lease; and
(b) prior to delivery of the Aircraft to the Sub-Lessee (as a condition precedent thereto), the Sub-Lessee shall provide an acknowledgement to the Lessor (in a form consistent with the Standard) confirming its agreement to such subordination (the “Subordination Acknowledgement”), and, in each case, the same shall be valid and enforceable as a matter of all applicable laws, subject to customary exclusions and qualifications.
3.2 Notwithstanding the Sub-Lease, the Portfolio Lessee shall remain fully liable and responsible for performing, and procuring observance of and compliance with, all of its obligations under the Lease.
3.3 As soon as reasonably practicable after its execution, the Lessor shall provide the Agent (with a copy to the Security Trustee) with a copy of the signed Sub-Lease (which may have sensitive commercial information redacted) and the related Subordination Acknowledgement.
3.4 The term of any Sub-Lease shall not exceed the term of the Portfolio Lease.
Sub-Leases. The Agency must take all reasonable steps to enforce the provisions of any Sub-Lease and the Residential Tenancies ▇▇▇ ▇▇▇▇, including recovering any amount payable by a Sub-Tenant under a Sub-Lease.
Sub-Leases. Redeveloper shall sublease the tenant incubator space at a cost not to exceed $6.50 per square foot, triple net.
Sub-Leases. Where any Relevant Property is subject to a lease, sub-lease, tenancy or other right of occupation in favour of a third party, the details of such occupation are set out in Exhibit 4 and are true, complete and accurate in all material respects.
Sub-Leases. 4.1 The LESSEE may not assign this lease without the express approval of the Township of Old Bridge except to the LESSEE’S principal, affiliates, subsidiaries of its principal or to any entity which acquires all or substantially all of LESSEE’s assets in the wireless communications market by reason of a merger, acquisition or other business reorganization. As to other parties, this Agreement may not be sold, assigned or transferred without the written consent of the LESSOR.
4.2 The additions of antennas shall not relieve the LESSEE of the responsibility to assure that the Township emergency communications system works without radio interference from these operations.
Sub-Leases. (a) The Tenant must not sub-let part only of the Premises.
(b) Subject to Clause 4.22.2(c) the Tenant must not sub-let the whole of the Premises without the Landlord's prior written consent, such consent not to be unreasonably withheld or delayed in the case of a respectable and responsible sub-tenant of sound financial standing.
(c) The Tenant must not sub-let the whole of the Premises unless the permitted sub-lease:-
(i) reserves a rent of not less than the passing rent payable by the Tenant hereunder at the time of grant without a fine, premium, grassum or lump sum commutation of rent;
(ii) contains provisions for upwards only rent reviews to coincide with the rent reviews under this Lease and that the rent payable under the sub-lease is payable no more than one quarter in advance;
(iii) contains an unqualified undertaking by the sub-tenant not to sub-under-let, assign, charge by way of fixed charge or otherwise in any way or for any purpose deal with the sub-tenant's interest in or part with or share possession or occupation of part only of the premises leased by the sub-lease;
(iv) contains an unqualified undertaking by the sub-tenant not to sub-under-let, assign, charge by way of fixed charge or otherwise in any way or for any purpose deal with the sub-tenant's interest in or part with or share possession or occupation of the whole of the premises leased by the sub-lease without the Landlord's prior written consent (which consent will not be unreasonably withheld or delayed in respect of proposed assignation of the sub-tenant's interest in the whole of the premises leased by the sub-lease to a respectable and responsible assignee of sound financial standing);
(v) contains an undertaking by the sub-tenant not to do or omit to do any act or thing which would or might cause the Tenant to be in breach of its obligations in this Lease;
(vi) contains a provision that any permitted sub-under-lease granted out of such sub-lease whether mediate or immediate will contain similar provisions to those contained in the sub-lease; and
(vii) is otherwise on the same terms (mutatis mutandis) as the terms of this Lease.
(d) The Tenant must not vary the terms of any permitted sub-lease without the Landlord's Permission.
(e) The Tenant must not accept a renunciation of part of the sub-let premises and must notify the Landlord in writing if the Tenant accepts a surrender of the whole of the sub-let premises.
(f) Without prejudice to the Landlord's rights on breach, the T...