Subleases Contingency Sample Clauses
The Subleases Contingency clause establishes that the effectiveness of a lease agreement is dependent on the successful subleasing of the premises or a portion thereof. In practice, this means that the tenant may be permitted to terminate or renegotiate the lease if they are unable to secure subtenants within a specified timeframe or under certain conditions. This clause is commonly used to protect tenants from being financially obligated for space they cannot fully utilize, thereby reducing their risk and providing flexibility in managing their occupancy needs.
Subleases Contingency. Sublandlord and Subtenant acknowledge and agree that this Sublease is subject to and conditioned upon the full execution and delivery by Sublandlord and Subtenant concurrently herewith (and receipt of master landlord consent, as applicable) of the following additional subleases: (i) the 150 Winchester Sublease, and (ii) a sublease of the building located at ▇▇▇-▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, Los Gatos that is currently leased by Sublandlord from Knowles Los Gatos, LLC pursuant to a Lease Agreement dated June 11, 2010.
Subleases Contingency. Sublandlord and Subtenant acknowledge and agree that this Sublease is subject to and conditioned upon the full execution and delivery by Sublandlord and Subtenant concurrently herewith (and receipt of master landlord consent, as applicable) of two additional subleases for certain additional subleased premises in the buildings located at ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (the “100 Winchester Sublease”) and ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (the “150 Winchester Sublease”) that are currently leased by Sublandlord from Sobrato Land Holdings.