Examples of Sublease Agreements in a sentence
However, because the Franchise Agreements are not terminated, neither are the Sublease Agreements.Nonetheless, the Court finds that the Corporate Debtors do not have a possessory right to each of the locations because the Corporate Debtors are not parties to the Sublease Agreements.
GNC asserts that the Sublease Agreements contain a provision that if the underlying franchise agreement is terminated, then GNC “shall have the immediate right of re-entry.”54 The Sublease Agreements also state that upon default of the underlying franchise agreements, the sublease “shall be subject to termination immediately upon [GNC’s] written notice to [the Javaids].” GNC’s assertion that the Sublease Agreements are terminated is based on its assumption that the Franchise Agreements are terminated.
All Sublease Agreements require the prior written approval of the Airport, except for Subleases for aircraft storage space and offices normally leased out by FBOs and Commercial Hangar Operators.
The Motion to Lift the Automatic Stay In the alternative, GNC seeks to lift the automatic stay for cause, alleging that the petitions were filed in bad faith, that the Franchise Agreements and Sublease Agreements were terminated pre-petition, and the lack of adequate protection of its collateral.
The Javaids are signatories to the three Franchise Agreements, the two Sublease Agreements, and the two Security Agreements.