Common use of Subleases Clause in Contracts

Subleases. (a) Except as set forth in this Section 25.2(a), Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 2 contracts

Sources: Lease Agreement (Tech Data Corp), Lease Agreement (Aviation Sales Co)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties Property described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet any Property or portion thereof so long as such sublease (i) is on market terms, (ii) does not extend beyond (A) the Basic Term Expiration Date (if such sublease is in force during the Basic Term) and (B) the expiration date of any then applicable Renewal Term (if such sublease is in force during such Renewal Term) and (iii) is expressly subject and subordinate to this Lease. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by Lessor. All subleasing shall be done on market terms and shall in no way diminish the fair market value or useful life of any applicable Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to such Property, or portion thereof, so sublet.

Appears in 2 contracts

Sources: Lease Agreement (Sabre Holdings Corp), Lease Agreement (Sabre Holdings Corp)

Subleases. (a) Except as set forth in this Without the consent of the Lessor, Lessee may sublet, subject to Section 25.2(a25.2(c), any Property or portion thereof to (i) any wholly-owned Subsidiary of Lessee or (ii) 33 any Person (which is not a wholly-owned Subsidiary of Lessee) provided the aggregate Property Cost of all such Properties under sublease to Persons (which are not wholly-owned Subsidiaries of Lessee), at the time such sublease becomes effective, does not exceed 25% of the aggregate Property Cost of all Properties then subject to this Lease. Lessee may not sublet any Property or portion thereof in addition to that referenced in the preceding sentence without first obtaining the prior written consent of the Lessor and the Agent, which consent may Lessor. Each sublease hereunder shall be given or withheld made in the sole discretion normal course of each such party. (b) Lessee mayLessee's business, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has . Each sublease may be for a term that does not extend past less than, equal to or greater than the Expiration DateTerm, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession as extended from time to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublettime. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (eb) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (c) No such sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property, or portion thereof, so sublet.

Appears in 1 contract

Sources: Lease Agreement (Meyer Fred Inc)

Subleases. (a) Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease and shall provide a copy of such sublease to Lessor and the Agent. As of the date of the Lease Supplement, Lessee shall lease the Property described in such Lease Supplement from Lessor, and any existing tenant respecting the Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Primary Financing Party or the Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet the Property or any portion thereof to any wholly-owned Subsidiary of Lessee or any other Person; provided, all such subleasing shall be done on market terms at fair market rents, and shall in no way diminish the fair market value or useful life of the Property. Except as set forth otherwise provided in this Section 25.2(a25.2(b), Lessee may not sublet any no other subleasing with respect to the Property or any portion thereof shall be permitted without first obtaining the prior written consent of the Lessor and the Agent, which consent may shall not be given unreasonably delayed, denied or withheld in the sole discretion of each such partyconditional. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any the Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Toys R Us Inc)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Section 25.2(a)Article XXV, Lessee may not sublet shall notify Lessor of the execution of such sublease and shall collaterally assign such sublease to the Lessor as security for Lessee's obligations hereunder and under any Property or portion thereof without first obtaining other Operative Agreement. Any such collateral assignment shall be in form and substance reasonably acceptable to the Lessor and the Agent. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the Agentother provisions of this Section 25.2, which consent Lessee may be given sublet the Property or withheld in the sole discretion portion thereof to any wholly-owned Subsidiary of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this LeasePerson; provided, each Lease Supplement all subleasing shall be done on market terms and shall in no way diminish the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights fair market value or useful life of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any the Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and or diminish the fair market value of the Property. Lessee shall remain directly and primarily liable under this Lease as to the Property Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . During any Basic Term, the term of any such sublease as an additional insuredshall not extend beyond 37 43 such Basic Term. Prior to During any Renewal Term, the effectiveness term of any such sublease, Lessee sublease shall deliver a copy thereof not extend beyond such Renewal Term. Each sublease shall be expressly subject and subordinate to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Master Lease Agreement (Veritas Software Corp /De/)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such subleasesublease and shall collaterally assign such sublease to the Lessor as security for Lessee's obligations hereunder and under any other Operative Agreement. Any such collateral assignment shall be in form and substance reasonably acceptable to the Lessor and the Agent. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet (i) any Property or portion thereof to any wholly-owned Subsidiary of Lessee and (ii) up to 50% of the Properties (based on the square footage of the Improvements constituting a Permitted Facility) then subject to this Lease to any Person which is not an Affiliate of Lessee. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by Lessor which consent shall not be unreasonably withheld or delayed. All subleasing shall be done on market terms and shall in no way diminish the fair market value or useful life of any applicable Property.

Appears in 1 contract

Sources: Master Lease Agreement (Veritas Software Corp /De/)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given Lessee or withheld to Karrington. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . During the Basic Term, the term of any such sublease as an additional insuredshall not extend beyond the Basic Term. Prior to During any Renewal Term, the effectiveness term of any such sublease, Lessee sublease shall deliver a copy thereof not extend beyond such Renewal Term. Each sublease shall be expressly subject and subordinate to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Sunrise Assisted Living Inc)

Subleases. (a) Except as set forth in this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property to a Subsidiary of Lessee, or sublet professional space constituting a portion of a Property to healthcare providers, in each case if and only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "“Property”." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's ’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the portion of the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE Article XIV hereof shall be endorsed to name each sublessee sublessee, under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five at least thirty (530) days following prior to the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Healthsouth Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, each Lessee that has executed a Lease Supplement shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of the applicable Lessee with respect to such Property and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor, (i) the Stockton Sublease shall be permitted, and (ii) subject to the other provisions of this Section 25.2(a)25.2, any Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agentsuch Lessee or DTS; provided, which consent may however, no such sublease otherwise permitted under this Section 25.2(b)(ii) shall be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations permitted with respect to such subleased Properties the Property located in Stockton, California and any other Properties) under this Lease, each more particularly described in Lease Supplement and No. 1 while the other Operative Agreements; (ii) Such sublease Stockton Sublease is in effect. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing and is expressly subject and subordinate by Lessor. Except with respect to the rights of the LessorStockton Sublease, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of any Lessee's obligations to Lessor hereunder and each Lessee shall remain directly and primarily liable under this Lease as to the each Property with respect to which such Lessee has executed a Lease Supplement, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Dollar Tree Stores Inc)

Subleases. (a) Except as set forth in this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders Agent and the Holders Financing Parties under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, rates and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "“Property."” (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's ’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE Article XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(ASections 25.2(a) - (Dd)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Tech Data Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given or withheld Lessee. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Us Foodservice/Md/)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining to any Person to the prior written consent extent, but only to the extent, that the requirements of the Lessor and the AgentSections 25.2(a), which consent may be given or withheld in the sole discretion of each such party. (b) Lessee mayand (c) are satisfied. Except as referenced in the immediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is such consent not to be unreasonably withheld or delayed. All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . During the Basic Term, the term of any such sublease as an additional insuredshall not extend beyond the Basic Term. Prior to During any Renewal Term, the effectiveness term of any such sublease, Lessee sublease shall deliver a copy thereof not extend beyond such Renewal Term. Each sublease shall be expressly subject and subordinate to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Convergys Corp)

Subleases. (a) Except as set forth in this Section 25.2(a)24.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party, provided that Lessee may sublease the Expansion Land Portion to Lessor as set forth in the Construction Agency Agreement for the Construction Term. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and writing, is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders Agent and the Holders Financing Parties under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative AgreementsAgreements and has a term that expires upon the termination or expiration of this Lease, unless Lessee purchases the related Property, in which case, the term of such sublease may continue; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, rates and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "“Property."” (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's ’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE Article XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly Promptly, but in any event within five (5) days days, following the execution and delivery of any sublease permitted by this ARTICLE XXVArticle XXIV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Tech Data Corp)

Subleases. (a) Except as set forth in this Section 25.2(a), Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any there shall be no existing tenant respecting such Property other than the Lessee, except to the extent such sublease is permitted under subsection (b) of this Section 25.2. (b) Upon written notice to the Financing Parties and subject to the provisions of Section 25.2(c), Lessee may sublet any Property or portion thereof (i) to any Person so long as the sublease shall automatically be deemed expressly subject and subordinate to this Lease, the term of the sublease does not extend beyond the Term of this Lease and the sublease is on fair market terms and at a fair market rental, or (ii) to COFC or a Wholly-Owned Subsidiary of COFC or to an Affiliate or Subsidiary of the Lessee. No other subleases shall be a subtenant of Lessee and not a tenant of permitted unless consented to in writing by the Lessor. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property, or portion thereof, so sublet.

Appears in 1 contract

Sources: Lease Agreement (Capital One Financial Corp)

Subleases. (a) Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease and shall provide a copy of such sublease to Lessor and the Agent. As of the Commencement Date, any then existing tenant respecting the Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent or any Primary Financing Party and subject to the other provisions of this Section 25.2, Lessee may sublet the Property or any portion thereof to any wholly-owned Subsidiary of Lessee. Subleases to wholly-owned Subsidiaries of Lessee are not required to be on market terms or at market rents. Lessee may sublet up to twenty percent (20%) of the Property to Persons other than wholly-owned Subsidiaries of Lessee. Such subleases to Persons other than wholly-owned Subsidiaries of Lessee may be at less than market rents but, in any event, shall otherwise be on market terms. No sublease shall in any way diminish the fair market value or useful life of the Property. Except as set forth otherwise provided in this Section 25.2(a25.2(b), Lessee may not sublet any no other subleasing with respect to the Property or any portion thereof shall be permitted without first obtaining the prior written consent of the Lessor and the Agent, which consent may shall not be given unreasonably delayed, denied or withheld in the sole discretion of each such partyconditioned. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any the Property shall in any way discharge or diminish any of Lessee's ’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Human Genome Sciences Inc)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor, but subject to the other provisions of this Section 25.2, Lessee may sublet any Property or portion thereof to any Person. All subleasing shall be done on market terms and shall in no way diminish the fair market value or useful life of any applicable Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to such Property, or portion thereof, so sublet. During the Basic Term, the term of any such sublease (including renewals) shall not extend beyond the Basic Term. Each sublease shall be expressly subject and subordinate to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Total System Services Inc)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given or withheld Lessee. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Rf Micro Devices Inc)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given or withheld Lessee. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this Lease. ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.XXVI

Appears in 1 contract

Sources: Lease Agreement (Rf Micro Devices Inc)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties Property described in such the Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such the Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Credit Lender, any Mortgage Lender or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet the Property or portion thereof to any Person to the extent, but only to the extent, that all of the requirements of Sections 25.2(a), (b) and (c) are satisfied. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by Lessor, such consent not to be unreasonably withheld or delayed. All subleasing shall be done on market terms and shall in no way diminish the fair market value or useful life of the Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to the Property shall in any way discharge or diminish any of Lessee’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property, or portion thereof, so sublet. The term of any such sublease shall not extend beyond the Expiration Date; provided, notwithstanding the foregoing, the term of a sublease otherwise permitted under this Section 25.2 may extend beyond the Expiration Date so long as (i) the terms and conditions of such sublease are commercially reasonable and the rent payable thereunder is no less than a market rent for the Property (or a portion thereof subject to such sublease), (ii) Lessor shall not be personally liable for any obligations under such sublease, (iii) Lessee has furnished a copy of such sublease to the Lessor, and (iv) if requested by the Lessor, Lessee furnishes to Lessor (at Lessee’s sole cost and expense) written confirmation from an independent appraiser (reasonably acceptable to Lessor) that the condition set forth in clause (i) has been satisfied. If requested by Lessee in writing, the Lessor shall execute and deliver a subordination and non-disturbance agreement for the benefit of any sublessee under a sublease permitted hereunder; provided, (I) such subordination and non-disturbance agreement shall be in form and substance mutually agreeable to the Lessor, the Agent and such sublessee, and (II) the Lessee shall pay or reimburse the Lessor and each other Financing Party for any and all reasonable costs and expenses incurred by such Persons in connection with the execution of such subordination and non-disturbance agreement, including without limitation reasonable attorneys’ fees and disbursements. Except as otherwise provided in this Section 25.2(c), each sublease shall be expressly subject and subordinate to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Convergys Corp)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties Property described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet any Property or portion thereof to any Subsidiary of the Parent or up to thirty percent (30%), in the aggregate, of the square footage of the applicable Property to any healthcare providers or businesses related to the operations of the Property in accordance with market and industry practices and standards, provided in all cases the Lessee shall remain primarily liable with respect to the Company Obligations. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by Lessor. All subleasing shall be done on market terms and shall in no way diminish the fair market value or useful life of any applicable Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to such Property, or portion thereof, so sublet. The term of any such sublease shall not extend beyond the Term. Each sublease shall be expressly subject and subordinate to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Healthsouth Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Section 25.2(a)Article XXV, Lessee may shall notify Lessor of the execution of such sublease. As of the Closing Date, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not sublet any Property or portion thereof without first obtaining a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet the Property or portion thereof to any wholly-owned Subsidiary of Lessee or any other Person reasonably acceptable to the Agent; provided, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent subleasing shall be done on market terms and other obligations with respect to such subleased Properties and shall in no way diminish the fair market value or useful life of any other Properties) under this Leaseapplicable Property, each Lease Supplement and the other Operative Agreements; (ii) Such no sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth referenced in this paragraph and in the definition of "Property." (cSection 25.2 or otherwise) No sublease or other relinquishment of possession to any of the Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property, or portion thereof, so sublet, (iii) the term of any such sublease shall not extend beyond the Term, and (iv) each sublease shall be expressly subject and subordinate to this Lease. Except as referenced in the immediately preceding sentence, no other sublease shall be permitted unless consented to in writing by Lessor which consent shall not be unnecessarily withheld, delayed or conditioned. All sublessees shall be in all respects subject and subordinate to the Lease and shall in no way diminish the fair market value or useful life of the Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to the Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Catalina Marketing Corp/De)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the Closing Date, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld but shall not permit any further sub?subletting. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Pep Boys Manny Moe & Jack)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Section 25.2(a)Article XXV, Lessee may shall notify Lessor and the Agent of the execution of such sublease and shall provide a copy of such sublease to Lessor and the Agent. As of the date of each Lease Supplement, Lessee shall lease the Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not sublet any Property or portion thereof without first obtaining a tenant of Lessor. (b) Without the prior written consent of the Lessor Agent or any Primary Financing Party and subject to the Agentother provisions of this Section 25.2, which consent Lessee may be given sublet any Property or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: any portion thereof (i) only to any Wholly-Owned Entity of Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; or (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessorany other Person provided, the Agent, the Lenders and the Holders under all subleasing pursuant to this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and subsection (iiiii) Such sublease is shall be done on commercially reasonable market terms and at market rates, and has for a term that does not extend past to exceed the Expiration DateTerm hereof and shall in no way diminish the fair market value, and useful life or utility of such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as shall not extend beyond the Term. Each sublease shall be expressly subject and subordinate to this Lease. Subject to a subordination, non disturbance and attornment agreement acceptable to Lessor and upon request, Lessor shall agree that it will recognize any sublease entered into on market terms to an additional insured. Prior entity which would fulfill Lessor's customary credit requirements (in Lessor's discretion) for the obligations undertaken by the sublessee in the sublease and which is not otherwise prohibited by this Lease, in the event this Lease is terminated prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the AgentExpiration Date. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Cypress Semiconductor Corp /De/)

Subleases. (a) Except as set forth in this Section 25.2(a)24.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and writing, is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders Agent and the Holders Financing Parties under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative AgreementsAgreements and has a term that expires upon the termination or expiration of this Lease, unless Lessee purchases the related Property, in which case, the term of such sublease may continue; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, rates and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "“Property."” (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's ’s obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE Article XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXVArticle XXIV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Tech Data Corp)

Subleases. (a) Except as set forth in this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property to a Subsidiary of Lessee, or sublet professional space constituting a portion of a Property to healthcare providers, in each case if and only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property"." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the portion of the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE Article XIV hereof shall be endorsed to name each sublessee sublessee, under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five at least thirty (530) days following prior to the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Healthsouth Corp)

Subleases. (a) Except as set forth Promptly, but in any event within ten (10) Business Days, following the execution and delivery of any sublease permitted by this Section 25.2(a)Article XXV, Lessee may shall notify Lessor and the Agent of the execution of such sublease and shall provide a copy of such sublease to Lessor and the Agent. As of the date of the Lease Supplement, Lessee shall lease the Property (or applicable portion thereof) described in such Lease Supplement from Lessor, and any existing tenant respecting the Property (or applicable portion thereof) shall automatically be deemed to be a subtenant of Lessee and not sublet any Property or portion thereof without first obtaining a tenant of Lessor. (b) Without the prior written consent of the Agent, any Primary Financing Party or the Lessor and subject to the Agentother provisions of this Section 25.2, which consent Lessee may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) sublet the Property or portion thereof to any Affiliate of Lessee remains fully liable for all obligations or (including without limitation all Rent and other obligations ii) sublet up to fifty percent (50%) of the aggregate square footage of the Improvements with respect to such subleased Properties and the Property to any other Properties) under this LeasePerson; provided, each Lease Supplement and all subleasing shall in no way diminish the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights -------- fair market value or useful life of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any the Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property Property, or portion thereof, so sublet. The term of any such sublease shall not extend beyond the Term. Each sublease shall be expressly subject and subordinate to this Lease. (d) Each insurance policy carried by Lessee pursuant Lessor hereby agrees to ARTICLE XIV hereof shall be endorsed to name each sublessee under enter into an appropriate non- disturbance agreement respecting any such sublease as an additional insured. Prior on terms mutually agreeable to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessorsuch subtenant.

Appears in 1 contract

Sources: Lease Agreement (Capital One Financial Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining to any Affiliate of any Credit Party. Except as referenced in the prior written consent of the Lessor and the Agentimmediately preceding sentence, no other subleases shall be permitted unless consented to in writing by each Financing Party, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . During the Basic Term, the term of any such sublease as an additional insuredshall not extend beyond the Basic Term. Prior to During any Renewal Term, the effectiveness term of any such sublease, Lessee sublease shall deliver a copy thereof not extend beyond such Renewal Term. Each sublease shall be expressly subject and subordinate to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Centennial Healthcare Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining during the prior written consent Term to any wholly-owned Subsidiary of Lessee. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by Lessor and the AgentMajority Secured Parties, which consent may shall not be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is unreasonably withheld. All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . During the Basic Term, the term of any such sublease as an additional insuredshall not extend beyond the Basic Term. Prior to During any Renewal Term, the effectiveness term of any such sublease, Lessee sublease shall deliver a copy thereof not extend beyond such Renewal Term. Each sublease shall be expressly subject and subordinate to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Acxiom Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Section 25.2(a)Article XXV, Lessee may shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the Property described in the Lease Supplement from Lessor, and any existing tenant respecting the Property shall automatically be deemed to be a subtenant of Lessee and not sublet any Property or portion thereof without first obtaining a tenant of Lessor. (b) Without the prior written consent of the Agent, any Credit Note Purchaser, any Mortgage Lender or Lessor and subject to the Agentother provisions of this Section 25.2, which consent Lessee may be given sublet the Property or withheld in portion thereof to any Person to the sole discretion extent, but only to the extent, that all of each such party. the requirements of Sections 25.2(a), (b) Lessee mayand (c) are satisfied. Except as referenced in the immediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing by Lessor, such consent not to be unreasonably withheld or delayed. All subleasing shall be done on market terms and is expressly subject and subordinate to shall in no way diminish the rights fair market value or useful life of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any the Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease shall not extend beyond the Expiration Date; provided, notwithstanding the foregoing, the term of a sublease otherwise permitted under this Section 25.2 may extend beyond the Expiration Date so long as an additional insured. Prior (i) the terms and conditions of such sublease are commercially reasonable and the rent payable thereunder is no less than a market rent for the Property (or a portion thereof subject to the effectiveness of such sublease), (ii) Lessor shall not be personally liable for any obligations under such sublease, (iii) Lessee has furnished a copy of such sublease to the Lessor, and (iv) if requested by the Lessor, Lessee furnishes to Lessor (at Lessee's sole cost and expense) written confirmation from an independent appraiser (reasonably acceptable to Lessor) that the condition set forth in clause (i) has been satisfied. If requested by Lessee in writing, the Lessor shall execute and deliver a subordination and non-disturbance agreement for the benefit of any sublessee under a sublease permitted hereunder; provided, (I) such subordination and non-disturbance agreement shall be in form and substance mutually agreeable to the Lessor, the Agent and such sublessee, and (II) the Lessee shall deliver a copy thereof to pay or reimburse the Lessor and the Agent. (e) Promptly but each other Financing Party for any and all reasonable costs and expenses incurred by such Persons in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of connection with the execution of such subleasesubordination and non-disturbance agreement, including without limitation reasonable attorneys' fees and disbursements. As of the date of Except as otherwise provided in this Section 25.2(c), each Lease Supplement, Lessee sublease shall lease the respective Properties described in such Lease Supplement from Lessor, be expressly subject and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed subordinate to be a subtenant of Lessee and not a tenant of Lessorthis Lease.

Appears in 1 contract

Sources: Lease Agreement (Convergys Corp)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the Closing Date, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given or withheld Lessee. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Pep Boys Manny Moe & Jack)

Subleases. (a) Except Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) So long as set forth in no Lease Event of Default shall have occurred and be continuing, without the prior written consent of the Bank or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given Lessee or withheld DTS. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Dollar Tree Stores Inc)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet (i) any Property or portion thereof to any wholly-owned Subsidiary of Lessee and/or (ii) up to twenty-five percent of the total square footage of the Properties to any Person that is not a wholly-owned Subsidiary of Lessee. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by the Lessor, the Agent and the Majority Holders. All subleasing shall be done on market terms and shall in no way diminish the fair market value or useful life of any applicable Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to such Property, or portion thereof, so sublet. During the Basic Term, the term of any such sublease shall not extend beyond the Basic Term. During any Renewal Term, the term of any such sublease shall not extend beyond such Renewal Term. Each sublease shall be expressly subject and subordinate to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Performance Food Group Co)

Subleases. (a) Except as set forth in this Without the consent of the Lessor, Lessee may sublet, subject to Section 25.2(a25.2(c), any Property or portion thereof to (i) any wholly-owned Subsidiary of Lessee or (ii) any Person (which is not a wholly-owned Subsidiary of Lessee) provided the aggregate Property Cost of all such Properties under sublease to Persons (which are not wholly- owned Subsidiaries of Lessee), at the time such sublease becomes effective, does not exceed 25% of the aggregate 33 Property Cost of all Properties then subject to this Lease. Lessee may not sublet any Property or portion thereof in addition to that referenced in the preceding sentence without first obtaining the prior written consent of the Lessor and the Agent, which consent may Lessor. Each sublease hereunder shall be given or withheld made in the sole discretion normal course of each such party. (b) Lessee mayLessee's business, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has . Each sublease may be for a term that does not extend past less than, equal to or greater than the Expiration DateTerm, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession as extended from time to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublettime. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (eb) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (c) No such sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property, or portion thereof, so sublet.

Appears in 1 contract

Sources: Lease Agreement (Meyer Fred Inc)

Subleases. (a) Except Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties (or sublease Lessor's leasehold interest therein, as set forth the case may be) described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) So long as no Lease Event of Default shall have occurred and be continuing, without the prior written consent of the Bank or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining (or Lessor's leasehold interest therein, as the prior written consent case may be) to any wholly-owned Subsidiary of the Lessor and the Agent, which consent may be given or withheld Lessee. Except as referenced in the sole discretion of each such party. (b) Lessee mayimmediately preceding sentence, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and no other obligations with respect subleases shall be permitted unless consented to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market ratesvalue or useful life of any applicable Property (or Lessor's leasehold interest therein, and has a term that does not extend past as the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Propertycase may be)." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Sterile Recoveries Inc)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of LessorLessor (except as provided in Section 25.2(b)). (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, Lessee may sublet any Property or portion thereof to any wholly-owned Subsidiary of Lessee or to any physician or ancillary service provider (and any such wholly-owned Subsidiary of Lessee may enter into a second tier sublease with any physician or ancillary service provider, in accordance with this Section 25.2); provided, however, that (1) concurrent with the execution of such sublease, Lessee shall certify in writing to the Agent that any such sublease of all or any portion of a Property has been entered into in accordance with market terms and for market rental amounts, as both relate to such Property, and in no way diminishes the fair market value, utility or useful life of such Property and (2) no such sublease shall be for a term extending more than seven (7) years beyond the Expiration Date. Except as referenced in the immediately preceding sentence, no other subleases shall be permitted unless consented to in writing by Lessor and the Agent. (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to such Property, or portion thereof, so sublet.

Appears in 1 contract

Sources: Lease Agreement (Province Healthcare Co)

Subleases. (a) Except as set forth in this Section 25.2(a)Promptly, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent of the Lessor and the Agent, which consent may be given or withheld in the sole discretion of each such party. (b) Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is in writing and is expressly subject and subordinate to the rights of the Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is on commercially reasonable terms and at market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition of "Property." (c) No sublease or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under any such sublease as an additional insured. Prior to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agent. (e) Promptly but in any event within five (5) days Business Days, following the execution and delivery of any sublease permitted by this ARTICLE Article XXV, ----------- Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2, ------------ Lessee may sublet any Property or portion thereof, provided that (i) all -------- subleasing shall be done on market terms, (ii) the sublease does not extend beyond the Term, (iii) the sublease is expressly subordinate to this Lease, and (iv) the sublease shall in no way diminish the fair market value or useful life of any applicable Property. (c) No sublease (referenced in this Section 25.2 or otherwise) or ------------ other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder, and Lessee shall remain directly and primarily liable under this Lease as to such Property.

Appears in 1 contract

Sources: Lease Agreement (Smart & Final Inc/De)

Subleases. (a) Except as set forth Promptly, but in any event within five (5) Business Days, following the execution and delivery of any sublease permitted by this Article XXV, Lessee shall notify Lessor of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Property described in such Lease Supplement from Lessor, and any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor. (b) Without the prior written consent of the Agent, any Lender, any Holder or Lessor and subject to the other provisions of this Section 25.2(a)25.2, Lessee may not sublet any Property or portion thereof without first obtaining the prior written consent to any Subsidiary of the Lessor and the AgentParent or up to thirty percent (30%), which consent may be given or withheld in the sole discretion aggregate, of each such party. (b) the square footage of the applicable Property to any healthcare providers or businesses related to the operations of the Property in accordance with market and industry practices and standards, provided in all cases the Lessee may, without the consent of Lessor or the Agent, sublet a Property only if: (i) Lessee remains fully shall remain primarily liable for all obligations (including without limitation all Rent and other obligations with respect to such subleased Properties and any the Company Obligations. Except as referenced in the immediately preceding sentence, no other Properties) under this Lease, each Lease Supplement and the other Operative Agreements; (ii) Such sublease is subleases shall be permitted unless consented to in writing and is expressly subject and subordinate to the rights of the by Lessor, the Agent, the Lenders and the Holders under this Lease, the Security Agreement, each Mortgage Instrument and all other Operative Agreements; and (iii) Such sublease is . All subleasing shall be done on commercially reasonable market terms and at shall in no way diminish the fair market rates, and has a term that does not extend past the Expiration Date, and such Property is at all times used for the purposes set forth in this paragraph and in the definition value or useful life of "any applicable Property." (c) No sublease (referenced in this Section 25.2 or otherwise) or other relinquishment of possession to any Property shall in any way discharge or diminish any of Lessee's obligations to Lessor hereunder and Lessee shall remain directly and primarily liable under this Lease as to the Property such Property, or portion thereof, so sublet. (d) Each insurance policy carried by Lessee pursuant to ARTICLE XIV hereof shall be endorsed to name each sublessee under . The term of any such sublease as an additional insuredshall not extend beyond the Term. Prior Each sublease shall be expressly subject and subordinate to the effectiveness of any such sublease, Lessee shall deliver a copy thereof to the Lessor and the Agentthis Lease. (e) Promptly but in any event within five (5) days following the execution and delivery of any sublease permitted by this ARTICLE XXV, Lessee shall notify Lessor and the Agent of the execution of such sublease. As of the date of each Lease Supplement, Lessee shall lease the respective Properties described in such Lease Supplement from Lessor, and (without limiting the generality of SECTIONS 25.2(A) - (D)) any existing tenant respecting such Property shall automatically be deemed to be a subtenant of Lessee and not a tenant of Lessor.

Appears in 1 contract

Sources: Lease Agreement (Healthsouth Corp)