Common use of Compliance With The Master Lease Clause in Contracts

Compliance With The Master Lease. Except as otherwise expressly provided herein, the terms of the Master Lease shall be incorporated herein as if fully set forth herein, and Subtenant shall comply with and perform, for the benefit of Master Landlord and Sublandlord, all of such terms, covenants, conditions and obligations of the “Tenant” under the Master Lease allocable or applicable to the Premises. Except as otherwise expressly provided hereunder, or as the context of this Sublease directly indicates otherwise, all of the obligations and rights imposed on or granted to the “Tenant” under the Master Lease with respect to the Premises are hereby imposed on or granted to Subtenant and all of the obligations and rights imposed on or granted to the “Landlord” under the Master Lease with respect to the Premises are hereby imposed on or granted hereunder to Sublandlord. In addition, the following defined terms set forth in the Master Lease shall have the respective meanings set forth below for purposes of this Sublease: Commencement Date Commencement Date (as defined herein) minimum rental Base Rent (as defined herein) Phase II Site Premises (as defined herein) Property Premises (as defined herein) Landlord Sublandlord (except that certain references to “Landlord” shall mean Master Landlord only and not Sublandlord, as specified in Section 9.1.1 below) Tenant Subtenant Subtenant acknowledges that it has read the attached copy of the Master Lease and agrees that this Sublease is in all respects subject and subordinate to any mortgage, deed, deed of trust, ground lease or other instrument now or hereafter encumbering the Building or the land on which it is located, to the terms and conditions of the Master Lease and to the matters to which the Master Lease, including any amendments thereto, is or shall be subordinate. Notwithstanding the foregoing: 9.1.1 Sublandlord shall have no duty to perform any obligations of Master Landlord which are, by their nature, the obligation of an owner or manager of real property, and the term “Landlord” shall mean Master Landlord only and not Sublandlord in Sections 1.2, 17, 19, 21.1 and 21.2 of the Master Lease as incorporated herein. Accordingly, Sublandlord shall not be required to (i) provide the services or repairs which the Master Landlord is required to provide under the Master Lease or (ii) procure and maintain the insurance which the Master Landlord is required to procure and maintain under the Master Lease. The parties contemplate that Master Landlord will perform its obligations under the Master Lease and in the event of any default or failure of such performance by Master Landlord, Sublandlord agrees that it will, upon notice from Subtenant, make demand upon Master Landlord to perform its obligations under the Master Lease and take appropriate action to enforce the Master Lease. If, after receipt of written request from Subtenant, Sublandlord shall fail or refuse to take action for such enforcement of the Master Lease (“Action”), Subtenant shall have the right to take such Action in its own name, and for that purpose and only to such extent, all of the rights of Sublandlord as “Tenant” with respect to the Premises under the Master Lease hereby are conferred upon and assigned to Subtenant, and Subtenant hereby is subrogated to such rights to the extent that the same shall apply to the Premises. Under no circumstances shall Subtenant be entitled to any initial free rent period, construction allowance, tenant improvements or other work to the Premises, or any other such economic incentives set forth in the Master Lease. 9.1.2 Whenever any provision of the Master Lease specifies a time period in connection with the performance of any liability or obligation by Subtenant or any notice period or other time condition to the exercise of any right or remedy by Sublandlord hereunder, such time period shall be shortened in each instance by one (1) business day where such time period is less than ten (10) business days or by five (5) business days where such time period is ten (10) or more business days for the purposes of incorporation into this Sublease. Any default notice or other notice of any obligations (including any billing or invoice for any rent or any other expense or charge due under the Master Lease) from Master Landlord which is received by Subtenant (whether directly or as a result of being forwarded by Sublandlord) shall constitute such notice from Sublandlord to Subtenant under this Sublease without the need for any additional notice from Sublandlord. 9.1.3 Subtenant shall not do, permit or suffer any act, occurrence or omission which if done, permitted or suffered by Sublandlord would be (with notice, the passage of time or both) in violation of or a default by the “Tenant” under the Master Lease, or could lead in any respect to the termination of the Master Lease. If Subtenant shall default in the performance of any of its obligations under this Sublease, other than its obligation to pay rent to Sublandlord, Sublandlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of Subtenant, without notice in a case of emergency and, in all other cases, if the default continues after three (3) days from the date of written notice thereof from Sublandlord.

Appears in 2 contracts

Samples: Sublease (Five Prime Therapeutics Inc), Sublease (Five Prime Therapeutics Inc)

AutoNDA by SimpleDocs

Compliance With The Master Lease. Except The terms of this Section 9.1 (including, without limitation, subsections 9.1.1, and 9.1.2 below) shall govern incorporation of any provisions into the Sublease and such provisions are collectively referred to herein as otherwise expressly provided herein, the terms “Incorporation Provisions.” Subtenant shall not cause a breach of the Master Lease shall be incorporated herein Lease, as if fully more particularly set forth herein, and Subtenant shall comply with and perform, for the benefit of Master Landlord and Sublandlord, all of such terms, covenants, conditions and obligations of the “Tenant” under the Master Lease allocable or applicable to the Premisesin Section 9.1.3 below. Except as otherwise expressly provided hereunder, or as the context of this Sublease directly indicates otherwise, all of the rights and obligations and rights imposed on or granted to the “Tenant” under the Master Lease with respect to the Premises are hereby imposed on or granted to Subtenant and all of the obligations and rights imposed on or granted to the “Landlord” under the Master Lease with respect to the Premises are hereby imposed on or granted hereunder to Sublandlord. In additionAll of the terms and conditions contained in the Master Lease are incorporated herein, except as specifically provided below, and shall together with the terms and conditions specifically set forth in this Sublease constitute the complete terms and conditions of this Sublease. To the extent the Master Lease terms are incorporated herein, the following defined terms set forth in the Master Lease shall be deemed to have the respective meanings set forth below for purposes of this Sublease: Commencement Date Commencement Date Building(s) Building(s) (as defined herein) minimum rental Landlord Sublandlord (as defined herein) Lease Sublease (as defined herein) Minimum Rental Base Rent (as defined herein) Phase II Site Premises Building(s) Building(s) (as defined herein) Phase II Rent Commencement Date The applicable Rent Commencement Date (as defined herein) Property Premises The Phase II site shown on the Phase II Site Plan attached to the Master Amendment as Exhibit A. Rent Commencement Date The applicable Rent Commencement Date (as defined herein) Landlord Sublandlord Tenant Subtenant (except that certain references to “Landlord” shall mean Master Landlord only and not Sublandlord, as specified in Section 9.1.1 belowdefined herein) Tenant Improvement Allowance Subtenant Improvement Allowance (as defined herein) Tenant Improvements Subtenant Improvements Workletter Subtenant Work Letter Subtenant acknowledges that it has read the attached copy of the Master Lease and agrees that this Sublease is in all respects subject and subordinate to any mortgage, deed, deed of trust, ground lease or other instrument now or hereafter encumbering the Building Premises or the land on which it is located, to the terms and conditions of the Master Lease and to the matters to which the Master Lease, including any amendments thereto, is or shall be subordinate. Notwithstanding the foregoing: 9.1.1 Sublandlord shall have no duty to perform any obligations of Master Landlord which are, by their nature, the obligation of an owner or manager of real property, and the term “Landlord” shall mean Master Landlord only and not Sublandlord in Sections 1.2, 17, 19, 21.1 and 21.2 of the Master Lease as incorporated herein. Accordingly, Sublandlord shall not be required to (i) provide the services or repairs which the Master Landlord is required to provide under the Master Lease or (ii) procure and maintain the insurance which the Master Landlord is required to procure and maintain under the Master Lease. The parties contemplate that Master Landlord will perform its obligations under the Master Lease and in the event of any default or failure of such performance by Master Landlord, Sublandlord agrees that it will, upon notice from Subtenant, make demand upon Master Landlord to perform its obligations under the Master Lease and take appropriate action to enforce the Master Lease. If, after receipt of written request from Subtenant, Sublandlord shall fail or refuse to take action for such enforcement of the Master Lease (“Action”), Subtenant shall have the right to take such Action in its own name, and for that purpose and only to such extent, all of the rights of Sublandlord as “Tenant” with respect anything to the Premises under the Master Lease hereby are conferred upon and assigned to Subtenant, and Subtenant hereby is subrogated to such rights to the extent that the same shall apply to the Premises. Under no circumstances shall Subtenant be entitled to any initial free rent period, construction allowance, tenant improvements or other work to the Premises, or any other such economic incentives contrary set forth in the Master Lease. 9.1.2 Whenever any provision of the Master Lease specifies a time period in connection with the performance of any liability or obligation by Subtenant or any notice period or other time condition to the exercise of any right or remedy by Sublandlord hereunder, such time period shall be shortened in each instance by one (1) business day where such time period is less than ten (10) business days or by five (5) business days where such time period is ten (10) or more business days for the purposes of incorporation into this Sublease. Any default notice or other notice of any obligations (including any billing or invoice for any rent or any other expense or charge due under the Master Lease) from Master Landlord which is received by Subtenant (whether directly or as a result of being forwarded by Sublandlord) shall constitute such notice from Sublandlord to Subtenant under this Sublease without the need for any additional notice from Sublandlord. 9.1.3 Subtenant shall not do, permit or suffer any act, occurrence or omission which if done, permitted or suffered by Sublandlord would be (with notice, the passage of time or both) in violation of or a default by the “Tenant” under the Master Lease, or could lead in any respect to the termination of the Master Lease. If Subtenant shall default in the performance of any of its obligations under this Sublease, other than its obligation to pay rent to Sublandlord, Sublandlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of Subtenant, without notice in a case of emergency and, in all other cases, if the default continues after three (3) days from the date of written notice thereof from Sublandlord.herein:

Appears in 1 contract

Samples: Sublease (NGM Biopharmaceuticals Inc)

Compliance With The Master Lease. Except as otherwise expressly provided hereinherein (including, without limitation, with respect to the terms allocation of obligations to make payments of Base Rent and Additional Rent as between Sublandlord and Subtenant pursuant to this Sublease), during the Master Lease shall be incorporated herein as if fully set forth hereinTerm and for all subsequent periods with respect to obligations arising prior to the termination of this Sublease, and Subtenant shall comply with and perform, for the benefit of Master Landlord and Sublandlord, all of such the terms, covenants, conditions and obligations of the Tenant” under the Master Lease allocable or applicable to the Premises. Except as otherwise expressly provided hereunder, or as the context of this Sublease directly indicates otherwise, all of the obligations and rights imposed on or granted to the “Tenant” under the Master Lease with respect to the Premises are hereby imposed on or granted to Subtenant and all of the obligations and rights imposed on or granted to the “Landlord” Master Landlord under the Master Lease with respect to the Premises are hereby imposed on or granted hereunder to Sublandlord. In addition, the following defined terms set forth in the Master Lease shall have the respective meanings set forth below for purposes of this Sublease: Commencement Date Commencement Date (as defined herein) minimum rental Base Rent (as defined herein) Phase II Site Premises (as defined herein) Property Premises (as defined herein) Landlord Sublandlord (except that certain references to “Landlord” shall mean Master Landlord only and not Sublandlord, as specified in Section 9.1.1 below) Tenant Subtenant Subtenant acknowledges that it has read the attached copy of the Master Lease Xxxxx and agrees that this Sublease is in all respects subject and subordinate to any mortgage, deed, deed of trust, ground lease or other instrument now or hereafter encumbering the Building or the land on which it is located, to the terms and conditions of the Master Lease and to the matters to which the Master Lease, including any amendments thereto, is or shall be subordinate. Notwithstanding the foregoing: 9.1.1 Subtenant and Sublandlord shall have no duty to perform agree and acknowledge that any obligations of Master Landlord which are, by their nature, the obligation of an owner or manager of real property, and the term “Landlord” shall mean Master Landlord only and not Sublandlord in Sections 1.2, 17, 19, 21.1 and 21.2 termination of the Master Lease as incorporated hereinprior to the expiration of the term of this Sublease shall result in an automatic termination of this Sublease, in which event, the parties shall be relieved of any further liability or obligation under this Sublease. Accordingly, Sublandlord shall not be required to (i) provide the services or repairs which the Master Landlord is required make reasonable efforts to provide under the Master Lease or (ii) procure and maintain the insurance which the Master Landlord is required to procure and maintain under Subtenant advanced notification of any termination of the Master Lease. The parties contemplate that Master Landlord will perform its obligations under the Master Lease and in the event of any default or failure of such performance by Master Landlord, Sublandlord agrees that it will, upon notice from Subtenant, make demand upon Master Landlord to perform its obligations under the Master Lease and take appropriate action to enforce the Master Lease. If, after receipt of written request from Subtenant, Sublandlord shall fail or refuse to take action for such enforcement of the Master Lease (“Action”), Subtenant shall have the right to take such Action in its own name, and for that purpose and only to such extent, all of the rights of Sublandlord as “Tenant” with respect to the Premises under the Master Lease hereby are conferred upon and assigned to Subtenant, and Subtenant hereby is subrogated to such rights to the extent that the same shall apply to the Premises. Under no circumstances shall Subtenant be entitled to any initial free rent period, construction allowance, tenant improvements or other work to the Premises, or any other such economic incentives set forth in the Master Lease. 9.1.2 Whenever any provision of the Master Lease specifies a time period in connection with the performance of any liability or obligation by Subtenant or any notice period or other time condition to the exercise of any right or remedy by Sublandlord hereunder, such time period shall be shortened in each instance by one (1) business day where such time period is less than ten (10) business days or by five (5) business days where such time period is ten (10) or more business days for the purposes of incorporation into this Sublease. Any default notice or other notice of any obligations (including any billing or invoice for any rent or any other expense or charge due under the Master Lease) from Master Landlord which is received by Subtenant (whether directly or as a result of being forwarded by Sublandlord) shall constitute such notice from Sublandlord to Subtenant under this Sublease without the need for any additional notice from Sublandlord. 9.1.3 Subtenant shall not do, permit or suffer any act, occurrence or omission which if done, permitted or suffered by Sublandlord would be (with notice, the passage of time or both) in violation of or a default by the “Tenant” under the Master Lease, or could lead in any respect to the termination of the Master Lease. If Subtenant shall default in the performance of any of its obligations under this Sublease, other than its obligation to pay rent Rent to Sublandlord, Sublandlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of Subtenant, without notice in a case of emergency and, in all other cases, if the default continues continues, after three ten (310) business days from the date of written notice thereof from Sublandlord.

Appears in 1 contract

Samples: Sublease (Flewber Global Inc.)

Compliance With The Master Lease. Except The terms of this Section 9.1 (including, without limitation, subsections 9.1.1, and 9.1.2 below) shall govern incorporation of any provisions into this Sublease and such provisions are collectively referred to herein as otherwise expressly provided herein, the terms “Incorporation Provisions.” Subtenant shall not cause a breach of the Master Lease shall be incorporated herein Lease, as if fully more particularly set forth herein, and Subtenant shall comply with and perform, for the benefit of Master Landlord and Sublandlord, all of such terms, covenants, conditions and obligations of the “Tenant” under the Master Lease allocable or applicable to the Premisesin Section 9.1.3 below. Except as otherwise expressly provided hereunder, or as the context of this Sublease directly indicates otherwise, all of the rights and obligations and rights granted to or imposed on or granted to the “Tenant” under the Master Lease with respect to the Premises are hereby granted to or imposed on or granted to Subtenant and all of the obligations rights and rights imposed on or granted to the “Landlord” under the Master Lease with respect to the Premises are hereby imposed on or granted hereunder to Sublandlord. In additionAll of the terms and conditions contained in the Master Lease are incorporated herein, except as specifically provided below, and shall together with the terms and conditions specifically set forth in this Sublease constitute the complete terms and conditions of this Sublease. Subject to the following sentence, capitalized terms used but not defined herein have the meanings given thereto in the Master Lease. To the extent the Master Lease terms are incorporated herein, the following defined terms set forth in the Master Lease shall be deemed to have the respective meanings set forth below for purposes of this Sublease: Commencement Date Commencement Date Amendment Sublease (as defined herein) minimum rental Building(s) 331 Building (as defined herein), provided, that, if it is clear from the context of the applicable use that references to the “Buildings” should refer to more than just the 331 Building (such as for purposes of calculating the allocation of costs or responsibilities among the 331 Building and other buildings), the reference shall be adjusted as appropriate to equitably allocate such costs or responsibilities to the 331 Building. Landlord Sublandlord (as defined herein) Lease Sublease (as defined herein) Minimum Rental Base Rent (as defined herein) Phase II Site Premises Building(s) 331 Building (as defined herein), provided, that, if it is clear from the context of the applicable use that references to the “Phase II Buildings” should refer to more than just the 331 Building (such as for purposes of calculating the allocation of costs or responsibilities among the 331 Building and other buildings), the reference shall be adjusted as SMRH: 473310031.19 -11- 300 XXXXXX XXXXX BOULEVARD.SUBLEASE – PROTHENA BIOSCIENCES FINAL EXECUTION VERSION 0SDM-159614 SV\1619361.8 appropriate to equitably allocate such costs or responsibilities to the 331 Building. Phase II Rent Commencement Date Rent Commencement Date (as defined herein) Property Premises The Phase II site shown on the Phase II Site Plan attached to the Master Amendment as Exhibit A. Rent Commencement Date Rent Commencement Date (as defined herein) Landlord Sublandlord Tenant Subtenant (except that certain references to “Landlord” shall mean Master Landlord only and not Sublandlord, as specified in Section 9.1.1 belowdefined herein) Tenant Improvement Allowance Allowances (as defined herein) Tenant Improvements Subtenant Improvements Workletter Subtenant acknowledges that it has read the attached copy of the Master Lease and agrees that this Sublease is in all respects subject and subordinate to any mortgage, deed, deed of trust, ground lease or other instrument now or hereafter encumbering the Building or the land on which it is located, to the terms and conditions of the Master Lease and to the matters to which the Master Lease, including any amendments thereto, is or shall be subordinate. Notwithstanding the foregoing: 9.1.1 Sublandlord shall have no duty to perform any obligations of Master Landlord which are, by their nature, the obligation of an owner or manager of real property, and the term “Landlord” shall mean Master Landlord only and not Sublandlord in Sections 1.2, 17, 19, 21.1 and 21.2 of the Master Lease as incorporated herein. Accordingly, Sublandlord shall not be required to (i) provide the services or repairs which the Master Landlord is required to provide under the Master Lease or (ii) procure and maintain the insurance which the Master Landlord is required to procure and maintain under the Master Lease. The parties contemplate that Master Landlord will perform its obligations under the Master Lease and in the event of any default or failure of such performance by Master Landlord, Sublandlord agrees that it will, upon notice from Subtenant, make demand upon Master Landlord to perform its obligations under the Master Lease and take appropriate action to enforce the Master Lease. If, after receipt of written request from Subtenant, Sublandlord shall fail or refuse to take action for such enforcement of the Master Lease (“Action”), Subtenant shall have the right to take such Action in its own name, and for that purpose and only to such extent, all of the rights of Sublandlord as “Tenant” with respect to the Premises under the Master Lease hereby are conferred upon and assigned to Subtenant, and Subtenant hereby is subrogated to such rights to the extent that the same shall apply to the Premises. Under no circumstances shall Subtenant be entitled to any initial free rent period, construction allowance, tenant improvements or other work to the Premises, or any other such economic incentives set forth in the Master Lease. 9.1.2 Whenever any provision of the Master Lease specifies a time period in connection with the performance of any liability or obligation by Subtenant or any notice period or other time condition to the exercise of any right or remedy by Sublandlord hereunder, such time period shall be shortened in each instance by one (1) business day where such time period is less than ten (10) business days or by five (5) business days where such time period is ten (10) or more business days for the purposes of incorporation into this Sublease. Any default notice or other notice of any obligations (including any billing or invoice for any rent or any other expense or charge due under the Master Lease) from Master Landlord which is received by Subtenant (whether directly or as a result of being forwarded by Sublandlord) shall constitute such notice from Sublandlord to Subtenant under this Sublease without the need for any additional notice from Sublandlord. 9.1.3 Subtenant shall not do, permit or suffer any act, occurrence or omission which if done, permitted or suffered by Sublandlord would be (with notice, the passage of time or both) in violation of or a default by the “Tenant” under the Master Lease, or could lead in any respect to the termination of the Master Lease. If Subtenant shall default in the performance of any of its obligations under this Sublease, other than its obligation to pay rent to Sublandlord, Sublandlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of Subtenant, without notice in a case of emergency and, in all other cases, if the default continues after three (3) days from the date of written notice thereof from Sublandlord.Work Letter

Appears in 1 contract

Samples: Sub Sublease (Assembly Biosciences, Inc.)

AutoNDA by SimpleDocs

Compliance With The Master Lease. Except as otherwise expressly provided herein, during the terms Term and for all subsequent periods with respect to obligations arising prior to the termination of the Master Lease shall be incorporated herein as if fully set forth hereinthis Sublease, and Subtenant shall comply with and perform, for the benefit of Master Landlord and Sublandlord, all of such the terms, covenants, conditions and obligations of the “Tenant” under the Master Lease allocable or applicable to the Premises. Except as otherwise expressly provided hereunder, or as the context of this Sublease directly indicates otherwise, all of the obligations and rights imposed on or granted to the “Tenant” under the Master Lease with respect to the Premises are hereby imposed on or granted to Subtenant and all of the obligations and rights imposed on or granted to the “Landlord” under the Master Lease with respect to the Premises are hereby imposed on or granted hereunder to Sublandlord. In addition, the following defined terms set forth in the Master Lease shall have the respective meanings set forth below for purposes of this Sublease: Commencement Date Commencement Date (as defined herein) minimum rental Base Rent (as defined herein) Phase II Site Premises (as defined herein) Property Premises (as defined herein) Landlord Sublandlord (except that certain references to “Landlord” shall mean Master Landlord only and not Sublandlord, as specified in Section 9.1.1 below) Tenant Subtenant Subtenant acknowledges that it has read the attached copy of the Master Lease and agrees that this Sublease is in all respects subject and subordinate to any mortgage, deed, deed of trust, ground lease or other instrument now or hereafter encumbering the Building or the land on which it is located, to the terms and conditions of the Master Lease and to the matters to which the Master Lease, including any amendments thereto, is or shall be subordinate. Notwithstanding the foregoing: 9.1.1 10.1.1 Sublandlord agrees that Subtenant shall be entitled to receive all services, utilities, repairs and restorations to be provided by Master Landlord to Sublandlord under the Master Lease with respect to the Premises. Sublandlord shall have no duty to perform any obligations of Master Landlord which are, by their nature, the obligation of an owner or manager of real property, and the term “Landlord” shall mean Master Landlord only and not Sublandlord in Sections 1.2, 17, 19, 21.1 and 21.2 of the Master Lease as incorporated herein. AccordinglyFor example, Sublandlord shall not be required to (i) provide the services or repairs which the Master Landlord is required to provide under the Master Lease or (ii) procure and maintain the insurance which the Master Landlord is required to procure and maintain under the Master Lease. The parties contemplate that Master Landlord will perform its obligations under the Master Lease and in the event of any default or failure of such performance by Master Landlord, Sublandlord agrees that it will, upon notice from Subtenant, make demand upon Master Landlord to perform its obligations under the Master Lease and take appropriate action to enforce the Master Lease. If, after receipt of written request from Subtenant, Sublandlord shall fail or refuse to take action for such enforcement of the Master Lease (“Action”), Subtenant shall have the right to take such Action in its own name, and for agrees that purpose and only to such extent, all of the rights of Sublandlord as “Tenant” with respect to the Premises if under the Master Lease hereby are conferred any right or remedy of Sublandlord or any duty or obligation of Master Landlord is subject to or conditioned upon and assigned Sublandlord making any demand upon Master Landlord or giving any notice or request to Master Landlord then, if Subtenant shall so request, Sublandlord, at Subtenant’s expense, and Subtenant hereby is subrogated shall make such demand or give such notice or request on Sublandlord’s behalf, except that Sublandlord shall not be required to such rights to the extent that the same shall apply to the Premises. Under no circumstances shall Subtenant be entitled do so with respect to any initial free rent period, construction allowance, tenant improvements act or other work thing as to the Premises, which Sublandlord shall have determined in accordance with this Sublease to withhold its consent or any other such economic incentives set forth in the Master Leaseapproval. 9.1.2 10.1.2 Whenever any provision of the Master Lease specifies a time period in connection with the performance of any liability or obligation by Subtenant or any notice period or other time condition to the exercise of any right or remedy by Sublandlord hereunder, such time period shall be shortened in each instance by one three (13) business day where such time period is less than ten (10) business days or by five (5) business days where such time period is ten (10) or more business days for the purposes of incorporation into this Sublease; provided, however, in no event shall Subtenant have less than three (3) business days with which to cure any monetary defaults. Any default notice or other notice of any obligations (including any billing or invoice for any rent or any other expense or charge due under the Master Lease) from Master Landlord which is received by Subtenant (whether directly or as a result of being forwarded by Sublandlord) shall constitute such notice from Sublandlord to Subtenant under this Sublease without the need for any additional notice from Sublandlord. 9.1.3 10.1.3 Subtenant shall not do, permit or suffer any act, occurrence or omission which if done, permitted or suffered by Sublandlord would be (with notice, the passage of time or both) in violation of or a default by the “Tenant” under the Master Lease, or could lead in any respect to the termination of the Master Lease. If Subtenant shall default in the performance of any of its obligations under this Sublease, other than its obligation to pay rent to Sublandlord, Sublandlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of Subtenant, without notice in a case of emergency and, in all other cases, if the default continues after three (3) days from the date of written notice thereof from Sublandlord. For avoidance of doubt, Subtenant’s failure to pay Rent as and when due under this Sublease shall be a default which shall entitle Sublandlord to all remedies available to (i) Sublandlord at law, at equity, or pursuant to this Sublease, and (ii) to Master Landlord under the Master Lease. 10.1.4 Sublandlord covenants and agrees that Sublandlord: (i) shall cause all rent to be paid under the Master Lease as and when due and payable under the Master Lease, except to the extent Subtenant has failed to timely pay rent under this Sublease to Sublandlord; (ii) shall observe and perform the other terms, provisions, covenants and conditions of the Master Lease to be observed and performed by Sublandlord, except and to the extent that such terms, provisions, covenants and conditions are assumed by Subtenant hereunder and except to the extent Subtenant’s actions or inactions are not the cause of Sublandlord’s failure to so comply; (iii) shall not voluntarily terminate the Master Lease except pursuant to a right of termination arising out of casualty or condemnation expressly set forth in the Master Lease and shall not amend the Master Lease in a manner adverse to Subtenant in any material respect; (iv) shall not take any action or fail to perform any act that results in a breach or default under the Master Lease to the extent any such failure to perform such act (A) is not the result of any action or inaction by Subtenant, and (B) adversely affects the rights of Subtenant under this Sublease, including, without limitation, the right of Subtenant to receive all services, utilities, repairs and restorations to be provided by Master Landlord to Sublandlord under the Master Lease with respect to the Premises or the ability of Subtenant to seek or obtain the approval or consent of Master Landlord or the right of Subtenant to use and occupy the Subleased Premises for the purposes set forth in this Sublease.

Appears in 1 contract

Samples: Sublease (Praxis Precision Medicines, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!