Underlandlord definition

Underlandlord as used in this Underlease shall mean only the Underlandlord named herein, so that in the event of any assignment of the Sublease, the Underlandlord named herein shall be and hereby is entirely freed and relieved of all future covenants, obligations and liabilities of Underlandlord hereunder, including but not limited to covenants, obligations and liabilities pertaining to Undertenant's security deposit, and it shall be deemed and construed without further agreement between the parties or their successors in interest that the assignee of the Sublease has assumed and agreed to carry out any and all such covenants, obligations and liabilities of Underlandlord hereunder.
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Examples of Underlandlord in a sentence

  • Undertenant shall not be deemed to be making any representations and warranties which were made by Underlandlord in the Prime Sublease.

  • Underlandlord shall not amend or modify the Prime Sublease, the result of which would materially or adversely affect Undertenant's rights or obligations hereunder or the Subleased Premises.

  • Underlandlord agrees to cooperate with Undertenant in connection with the enforcement by Undertenant of such rights.

  • If Underlandlord conveys Underlandlord's interest under this Secondary Sublease, the Deposit, or any part thereof not previously applied, may be turned over by Underlandlord to Underlandlord's grantee, whereupon, Undertenant agrees to look solely to such grantee for application and return of the Deposit in accordance herewith.

  • If Prime Landlord shall default in any of its obligations to Underlandlord with respect to the Subleased Premises, Underlandlord shall use its best efforts to enforce its rights against Prime Landlord, and Undertenant shall be entitled to participate with Underlandlord in the enforcement of Underlandlord rights against Prime Landlord.

  • Underlandlord may hold the Deposit without any obligation to pay interest thereon and may commingle the Deposit with Underlandlord's other funds.

  • Undertenant shall be entitled to use of Underlandlord's then applicable Proportionate Share of the parking spaces allocated to Tenant under the Lease (and to which Underlandlord is entitled under the Sublease) on a non-exclusive basis.

  • If Underlandlord shall fail to perform any of the terms, covenants, conditions, provisions or agreements of the Prime Lease and Prime Sublease on its part to be performed, which failure constitutes a default under the Prime Lease or Prime Sublease, then Undertenant may, at its option, perform any such term, covenant, condition, provision or agreement, and the full cost and expense incurred by Undertenant shall immediately be due and owing by Underlandlord or Prime Landlord to Undertenant.

  • Underlandlord will pay the amount of the commission to Undertenant, who in turn shall pay C&W.

  • Undertenant shall, concurrent with execution of this Secondary Sublease, deliver to Underlandlord a security deposit ("Deposit") in the amount of Forty-Six Thousand Four Hundred Sixty-Three and No/00 Dollars ($46,453.00) representing one (1) month Base Rent.