Direct Lease Terms definition
Direct Lease Terms. (i) the term for the Subleased Premises or Alternate Premises, as applicable, will commence on the day immediately following the ▇▇▇▇▇▇ Lease Early Termination Date and shall run co-terminus with the term of this Lease, including any extensions or renewals; (ii) the Monthly Rent for the Subleased Premises or Alternate Premises, as applicable, will be at the same rate per rentable square foot as the 28th Floor Premises with escalations at the same time as the 28th Floor Premises; and (iii) all other terms and conditions of this Lease shall apply to the Subleased Premises or Alternate Premises, as applicable, except that (A) if the Subleased Premises are being leased, Tenant shall accept the Subleased Premises in their then current “as is” condition, and Landlord shall have no obligation to improve the same, and (B) if the Alternate Premises are being leased, Landlord will deliver the Alternate Premises to Tenant in substantially the same condition as the Subleased Premises are on such date of delivery, and Landlord shall otherwise have no obligation to improve the same beyond the condition of the Subleased Premises. Landlord will promptly prepare and submit to Tenant an amendment to this Lease outlining the lease of the Subleased Premises or Alternate Premises, as applicable, on the Direct Lease Terms, and Tenant shall execute such lease amendment within thirty (30) days after receipt of the same.
Examples of Direct Lease Terms in a sentence
Except for the foregoing, capitalized terms that are used in the Direct Lease Terms that are not defined in such provisions shall have the meanings ascribed to them elsewhere in the Direct Lease.
Landlord will promptly prepare and submit to Tenant an amendment to this Lease outlining the lease of the Subleased Premises or Alternate Premises, as applicable, on the Direct Lease Terms, and Tenant shall execute such lease amendment within thirty (30) days after receipt of the same.