Sublease Premises. A portion of the Master Premises, consisting of (i) approximately 70,973 rentable square feet of which approximately 18,205 rentable square feet is located on the first floor and 52,768 rentable square feet is located on the third floor of the Building as depicted in Exhibit B (“Phase I Premises”) and (ii) upon the Phase II Effective Date, the Sublease Premises expanding to include approximately 52,768 rentable square feet located on the second floor of the Building as depicted in Exhibit B2 (“Phase II Premises”) The term “Sublease Premises” shall refer to the Phase I Premises until the Phase II Effective Date and thereafter shall refer collectively to the Phase I Premises and the Phase II Premises. The term “Phase” used alone shall refer to either the Phase I Premises or the Phase II Premises as the context permits. Upon the Phase II Effective Date, the Sublease Premises shall thereafter consist of approximately 123,741 rentable square feet. Sublease Term: The period of time commencing on the Commencement Date and expiring on the Expiration Date. Subtenant: Mass Innovation Labs, LLC a Delaware Limited Liability Company Subtenant’s Address: Prior to the Commencement Date: Xxx Xxxxxxxx 00xx Xxxxx Xxxxxxxxx, XX 00000 Attn: Xxxx Xxxxxx From and after the Commencement Date: 000 Xxxx Xxxxxxx Xxxxxx Cambridge, Massachusetts 02142 Attn: Xxxx Xxxxxx Subtenant’s Share The ratio, expressed as a percentage, of the Rentable Square Footage of the Sublease Premises to the Rentable Square Footage of the Master Premises, being equal to 24.41%, subject to adjustment based on increases or decreases in the Rentable Square Footage of the Sublease Premises in accordance with the terms and conditions of this Sublease. Effective on the Phase II Effective Date, Subtenant’s Share shall increase to 42.56%. Exhibits: Exhibit A – Master Lease Exhibit B – Sublease Premises (Phase I Premises) Exhibit B2 – Sublease Premises (Phase II Premises) Exhibit C – Form of Letter of Credit Exhibit TI – Subtenant Improvements Workletter Exhibit D – Schedule of Sublandlord Property Exhibit E – Form of Xxxx of Sale Exhibit F – Intentionally Omitted Exhibit G - Form of Commencement Date Agreement Exhibit H - Form of Master Landlord Consent Exhibit I - Form of Real Estate License Agreement THIS SUBLEASE AGREEMENT (this “Sublease”) is entered as of the Effective Date by and between Sublandlord and Subtenant on the basis of the following facts, understandings and intentions:
Sublease Premises as used in this Sublease, shall mean and refer only to the Partial Premises until Sublessor delivers the Remainder Premises to Subtenant in which case, upon such delivery of the Remainder Premises, Subtenant shall be obligated to sublease all of the Sublease Premises and the term "Sublease Premises" shall mean and refer to all of the Sublease Premises. Notwithstanding anything to the contrary contained in this Section 1, if Sublessor does not so tender possession to Subtenant of the Remainder Premises (without any tenant improvements being made therto) by January 1, 2001 (The "Outside Date"), then as Subtenant's sole and exclusive remedy against Sublessor for Sublessor's failure to deliver and/or delay in the delivery of the Remainder Premises, Subtenant may terminate this Sublease by delivering written notice therof to Sublessor at any time after the Outside Date, but prior to Sublessor's tender of possession of the Remainder Premises. If Subtenant fails to deliver such termination notice, or if Sublessor tenders to Subtenant possession of the Sublease Premises (without any tenant improvements being made thereto) at any time earlier than the expiration of ten (10) business days following receipt of Subtenant's termination notice, then upon the occurrence of any such events the foregoing right given to Subtenant to terminate this Sublease as provided herein shall lapse and be null and void and the Sublease shall remain in full force and effect with Subtenant having no further right to terminate this Lease pursuant to the foregoing provision. If Sublessor does so timely deliver to Subtenant possession of the Sublease Premises (without any tenant improvements being made thereto), Subtenant shall promptly deliver written notice to Sublessor confirming same (however, any failure by Subtenant to so notify Sublessor shall not affect the enforceability of this Sublease).
Sublease Premises shall refer to the Existing Sublease Premises and Expansion Premises collectively.
Examples of Sublease Premises in a sentence
Notwithstanding the foregoing, Lessor and Lessee may enter into an agreement to terminate the Lease if Lessee is permitted to continue to occupy the Sublease Premises on substantially the same terms as the Sublease for the remainder of the term of the Sublease.
Subtenant shall have no right to occupy the Sublease Premises unless and until a fully executed original of this Consent is delivered to Lessor, and any premature occupancy shall, at Lessor’s election, be a default under the Lease.
Subtenant has made such investigations and inquiries as it deems appropriate to ascertain the effects, if any, of such substances and contaminants on its operations and persons using the Sublease Premises.
More Definitions of Sublease Premises
Sublease Premises shall include the Sublease Premises and the Improvements.
Sublease Premises as used in this Sublease, shall refer to Area 1 until the Area 2 Sublease Commencement Date and, thereafter, shall refer to both Area 1 and Area 2.
Sublease Premises means and include both the Initial Sublet Premises and the Expansion Premises;
Sublease Premises. The entire twenty-fifth (25th) floor of the Building containing five thousand five hundred twenty-six (5,526) rentable square feet of space as stipulated and agreed to by Sublandlord and Subtenant.
Sublease Premises. Four buildings including 506,317 square feet of Rentable Area, as initially described in Exhibit “A” to the Master Lease and as more fully described in Exhibit A. The Sublease Premises consists of the following (each, a “Sublease Premises Portion”):
Sublease Premises under this Sublease consists of approximately 3,418 rentable square feet located on the 8th floor in the building commonly known as 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx ("Building"). The Sublease Premises are a portion of the those certain premises ("Master Premises") containing approximately 28,610 rentable square feet which are demised pursuant to the Master Lease to Sublandlord. The Sublease Premises are depicted on Exhibit A to this Sublease.