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 shall be deemed to consist of: (a) approximately 20,000 square feet of rentable space in the Prime Lease Premises located on the 2nd floor of the Building (the “2nd Floor Sublease Premises”) and (b) approximately 2,000 square feet of rentable space in the Prime Lease Premises located on the 1st floor of the Building (the “1st Floor Sublease Premises”) as shown on the floor plans attached hereto as Exhibit D. Subtenant shall have no right to exercise any rights under the Prime Lease to expand the Prime Lease Premises. Sublandlord shall deliver the 1st Floor Sublease Premises to Subtenant upon receipt of the last of the following: (i) an executed Sublease from Subtenant; (ii) the first months’ payment of Sublease Base Rent and (iii) a fully executed Landlord Consent (as defined in Section 3 below). Sublandlord shall deliver the 2nd Floor Sublease Premises to Subtenant on April 1, 2009. If any portion of the Sublease Premises is delivered after the latest of the dates set forth hereinabove, then as of the Rent Commencement Date, Subtenant shall only be obligated to pay Sublease Base Rent with respect to that portion of the Sublease Premises which has been delivered to Subtenant. Such amount shall be determined by multiplying the square footage of the portion of the Sublease Premises that has been delivered to Subtenant by the rentable square foot rate set forth in Section 5 below. Notwithstanding anything to the contrary herein, the parties acknowledge and agree that the 2nd Floor Sublease Premises does not include approximately 5,000 square feet of contiguous, rentable square feet located on the 2nd floor of the Prime Lease Premises (herein referred to as the “Excluded Sublease Premises”) as such area is mutually agreed upon by the parties. Within sixty (60) days after the Sublease Commencement Date, the parties shall meet to determine a mutually agreeable area to serve as the Excluded Sublease Premises and Subtenant shall immediately surrender any portion of the Excluded Sublease Premises that is occupied by Subtenant. The Excluded Sublease Premises will not be occupied on a permanent basis by Subtenant; provided that it will also not be taped off or otherwise separately demised from the remainder of the Sublease Premises and Subtenant will be permitted to walk through or otherwise pass through the Excluded Sublease Premises to the extent required to access the remainder of the Sublease Premises or as may be required for exiting requirements or other code c...
Sublease Premises shall include the Sublease Premises and the Improvements.
Examples of Sublease Premises in a sentence
This Committee will meet periodically for the purpose of resolving problems that may arise as to the operation and maintenance of the Sublease Premises.
Members of the Advisory Committee shall report periodically to their respective Boards and shall prepare and submit to each governmental body those records or reports as may from time to time be requested concerning the operation of the Sublease Premises.
Sublessee shall not transfer, sell, assign or pledge this Sublease or further sublease the Sublease Premises, or any part thereof, without (i) complying with the requirements of the Main Lease relating thereto, and (ii) obtaining the prior written consent of the Sublessor and Landlord.
Sublessee hereby agrees that Sublessor shall not be liable for injury to Sublessee or any loss of income therefrom or from damage to the personal property, equipment or trade fixtures of Sublessee, Sublessee’s employees, invitees, customers, or any other person in or about the Sublease Premises from any and all causes except the negligence of Sublessor.
Sublessee hereby assumes all risk of damage to persons or property in or about the Sublease Premises from any cause, and Sublessee hereby waives all claims in respect thereof against Sublessor, excepting where said damage arises out of the negligence of Sublessor.
More Definitions of Sublease Premises
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. 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 shall refer to the Existing Sublease Premises and Expansion Premises collectively.
Sublease Premises means and include both the Initial Sublet Premises and the Expansion Premises;
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. The “Sublease Premises” under this Sublease consists of approximately 7,119 rentable square feet, consisting of the entire seventh floor of the building located at 0000 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxx 00000 (the “Building”). The Sublease Premises are a portion of those certain premises (the “Master Premises”) containing approximately 66,617 rentable square feet which are demised by Master Landlord to Sublandlord pursuant to the Master Lease (as such terms are defined below). The Building consists of 82,098 rentable square feet. The Parties hereby agree on the measurements set forth in this Section 1.1 and they are not subject to remeasurement or adjustment, except that if there is an addition to the Building, then the size of the Building shall be adjusted consistent with the final certificate of occupancy or similar documentation issued in connection with such addition. The Sublease Premises are depicted on Exhibit A to this Sublease and legally described on Exhibit A-1 to this Sublease.