Common use of Subtenant Covenants Clause in Contracts

Subtenant Covenants. Subtenant agrees that as of the Recognition Date it shall: a) Attorn to and accept Master Landlord as its direct Sublandlord under the Sublease for the remainder of the term under the Sublease; b) Comply with the applicable terms and conditions of the Master Lease and perform all obligations of Sublandlord under the Master Lease with respect to the Sublease Premises as incorporated into the Sublease; and comply with all the terms and conditions of the Sublease, performing all of Subtenant’s obligations thereunder; and c) Pay directly to Master Landlord the Recognition Rent and all other amounts payable under the Sublease, when due thereunder. Further, Subtenant agrees that Master Landlord, its successors, and assigns shall not be: a) Subject to any credits, offsets, defenses or claims that Subtenant might have against Sublandlord; b) Liable for any act or omission of Sublandlord prior to the Recognition Date and the succession of Master Landlord as Sublandlord; or c) Bound by any covenant to undertake, complete, or pay for any improvement to the Sublease Premises. Subtenant agrees that Landlord shall not be bound by any provision in the Sublease that: d) Creates any rights or remedies in the Subtenant that are greater than the rights of Sublandlord under the Master Lease; or e) Increases Master Landlord’s obligations under the Master Lease.

Appears in 1 contract

Sources: Sublease (Cascadian Therapeutics, Inc.)

Subtenant Covenants. Subtenant agrees that as of the Recognition Date it shall: a) Attorn to and accept Master Landlord as its direct Sublandlord under the Sublease for the remainder of the term under the Sublease; b) Comply with the applicable terms and conditions of the Master Lease and perform all obligations of Sublandlord under the Master Lease with respect to the Sublease Premises as incorporated into the Sublease; and comply with all the terms and conditions of the Sublease, performing all of Subtenant’s 's obligations thereunder; and c) Pay directly to Master Landlord the Recognition Rent and all other amounts payable under the Sublease, when due thereunder. Further, Subtenant agrees that Master Landlord, its successors, and assigns shall not be: a) Subject to any credits, offsets, defenses or claims that Subtenant might have against Sublandlord; b) Liable for any act or omission of Sublandlord prior to the Recognition Date and the succession of Master Landlord as Sublandlord; or c) Bound by any covenant to undertake, complete, or pay for any improvement to the Sublease Premises. Subtenant agrees that Landlord shall not be bound by any provision in the Sublease that: d) Creates any rights or remedies in the Subtenant that are greater than the rights of Sublandlord under the Master Lease; or e) Increases Master Landlord’s 's obligations under the Master Lease.

Appears in 1 contract

Sources: Sublease (Cti Biopharma Corp)