Common use of Compliance with Underlying Lease Clause in Contracts

Compliance with Underlying Lease. Sublessee covenants and agrees to observe and perform all of the terms, covenants, conditions, provisions and agreements to be performed by Sublessor, as tenant pursuant to the Underlying Lease, except for any Excluded Provisions, and further covenants and agrees not to do or suffer or permit anything to be done which would result in a default under or cause the Underlying Lease to be terminated. All of the terms, covenants, conditions, provisions and agreements of the Underlying Lease, excepting any Excluded Provisions, are hereby incorporated herein with the same force and effect as if herein set forth in full and wherever the term "Tenant" occurs in the Underlying Lease, the same shall be deemed to refer to Sublessee. Notwithstanding the foregoing, all grace periods provided for in the Underlying Lease shall, for purposes of determining compliance by Sublessee with the provisions hereof, be each reduced by three (3) days, unless such reduction shall preclude at least two (2) Business Days for compliance or response by Sublessee as applicable.

Appears in 1 contract

Samples: Agreement (Pzena Investment Management, Inc.)

AutoNDA by SimpleDocs

Compliance with Underlying Lease. Sublessee covenants and agrees to observe and perform all of the terms, covenants, conditions, provisions and agreements to be performed by Sublessor, as tenant pursuant to the Underlying Lease, except for any Excluded Provisions, and further covenants and agrees not to do or suffer or permit anything to be done which would result in a default under or cause the Underlying Lease to be terminated. All of the terms, covenants, conditions, provisions and agreements of the Underlying Lease, excepting any Excluded Provisions, are hereby incorporated herein with the same force and effect as if herein set forth in full and wherever the term "β€œTenant" ” occurs in the Underlying Lease, the same shall be deemed to refer to Sublessee. Notwithstanding the foregoing, all grace periods provided for specified in the Underlying Lease shall, for purposes of determining compliance by Sublessee with the provisions hereof, be each reduced by three five (35) days. In relation to Sublessee performing the obligations of Sublessor, unless such reduction as tenant pursuant to the Underlying Lease, said obligations shall preclude at least two (2) Business Days for compliance or response by Sublessee as applicablebe those of Sublessor in relation to the demised premises.

Appears in 1 contract

Samples: Agreement of Sublease (Ampex Corp /De/)

Compliance with Underlying Lease. Sublessee covenants and agrees to observe and perform all of the terms, covenants, conditions, provisions and agreements to be performed by Sublessor, as tenant pursuant to the Underlying Lease, except for any Excluded Provisions, and further covenants and agrees not to do or suffer or permit anything to be done which would result in a default under the Underlying Lease or cause the Underlying Lease to be terminated. All of the terms, covenants, conditions, provisions and agreements of the Underlying Lease, excepting any Excluded Provisions, are hereby incorporated herein with the same force and effect as if herein set forth in full and wherever the term "Tenant" occurs in the Underlying Lease, the same shall be deemed to refer to Sublessee. Notwithstanding the foregoing, all grace periods provided for specified in Article 25 of the Underlying Lease shall, for purposes of determining compliance by Sublessee with the provisions hereof, be each reduced by three (3) days, unless such reduction with respect to any monetary default cure period and by ten (10) days, with respect to any non-monetary default cure period, therein provided. The obligations of Sublessee provided above in this Article 7 shall preclude at least two (2) Business Days for compliance or response by Sublessee as applicablerefer only to those obligations of Sublessor under the Underlying Lease that relate to the demised premises.

Appears in 1 contract

Samples: Agreement of Sublease (Individual Investor Group Inc)

Compliance with Underlying Lease. Sublessee covenants and agrees to observe and perform all of the terms, covenants, conditions, provisions and agreements to be performed by Sublessor, as tenant pursuant to the Underlying Lease, except for any Excluded Provisions, and further covenants and agrees not to do or suffer or permit anything to be done which would result in a default under the Underlying Lease or cause the Underlying Lease to be terminated. All of the terms, covenants, conditions, provisions and agreements of the Underlying Lease, excepting any Excluded Provisions, are hereby incorporated herein with the same force and effect as if herein set forth in full and wherever (a) the term "Tenant" occurs in the Underlying Lease, the same shall be deemed to refer to SublesseeSublessee and (b) the term "Premises" occurs in the Underlying Lease, the same shall be deemed to refer to the Demised Premises or demised premises. Notwithstanding the foregoing, all grace periods provided for specified in Article 25 of the Underlying Lease shall, for purposes of determining compliance by Sublessee with the provisions hereof, be each reduced by three (3) daysdays with respect to any monetary default cure period, unless such reduction and by five (5) business days with respect to any non-monetary default cure period, therein provided. The obligations of Sublessee provided above in this Article 11 shall preclude at least two (2) Business Days for compliance or response by Sublessee as applicablerefer only to those obligations of Sublessor under the Underlying Lease that relate to the demised premises.

Appears in 1 contract

Samples: Agreement of Sublease (Individual Investor Group Inc)

AutoNDA by SimpleDocs

Compliance with Underlying Lease. Sublessee covenants and agrees to observe and perform all of the terms, covenants, conditions, provisions and agreements to be performed by Sublessor, as tenant pursuant to the Underlying Lease, except for any Excluded Provisions, and further covenants and agrees not to do or suffer or permit anything to be done which would result in a default under or cause the Underlying Lease to be terminated. All of the terms, covenants, conditions, provisions and agreements of the Underlying Lease, excepting any Excluded Provisions, are hereby incorporated herein with the same force and effect as if herein set forth in full and wherever the term "Tenant" occurs in the Underlying Lease, the same shall be deemed to refer to Sublessee. Notwithstanding the foregoingHowever, all grace periods provided for specified in the Underlying Lease shall, for purposes of determining compliance by Sublessee with the provisions hereof, be each reduced by three five (35) days. In relation to Sublessee performing the obligations of Sublessor, unless such reduction as tenant pursuant tote Underlying Lease, said obligations shall preclude at least two be those of Sublessor in relation to the demised premises. Sublessee shall and hereby does indemnify, defend and hold Sublessor harmless from and against any and all actions, claims, demands, damages, liabilities and expenses asserted against, imposed upon or incurred by Sublessor by reason of (2a) Business Days for compliance any violation caused, suffered or response permitted by Sublessee as applicableSublessee, its agents, contractors, servants, licensees, employees or invitees, of any of the terms, covenants, conditions, provisions or agreements of the Underlying Lease, and (b) any damage or injury to persons or property occurring upon or in connection with the use or occupancy of the demised premises.

Appears in 1 contract

Samples: Agreement of Sublease (Bolt Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.