Common use of Conditions Regarding Consent to Sublease and Assignment Clause in Contracts

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee shall pay upon demand Lessor's processing costs and attorneys' fees incurred in determining whether to give such consent. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC), either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee shall pay to Lessor as additional rent all of the excess of each such payment of rent or other consideration received by Lessee within five (5) days of its receipt. Furthermore, for any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurers.

Appears in 2 contracts

Samples: Lease Agreement (Advanced Communications Technologies Inc), Lease Agreement (Advanced Communications Technologies Inc)

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Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee shall pay upon demand within ten (10) days of receipt of Lessor's ’s election of (i) or (ii) above Lessor’s processing costs and attorneys' fees (not to exceed $750.00) incurred in determining whether to give such consent. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC), either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee shall be required to pay to Lessor Lessor, as additional rent all rent, fifty percent (50%) of the excess of each such payment of rent or other consideration consideration. Whenever Lessor is entitled to share in any excess income resulting from an assignment or sublease of the Premises, the following shall constitute the definition of “Profits”: the gross revenue received from the assignee or sublessee during the sublease term or during the assignment with respect to the space covered by the sublease or the assignment (“Transferred Space”) less: (a) the gross revenue paid to Lessor by Lessee within five during the period of the sublease term or during the assignment with respect to the Transferred Space; (5b) days any improvement allowance or other economic concession (planning allowance, moving expenses, etc.) paid by Lessee to sublessee or assignee; (c) broker’s commissions; (d) attorney’s fees; (e) costs of its receiptadvertising the space for sublease or assignment; (f) any other costs actually paid in assigning or subletting the Transferred Space. Furthermore, for For any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's ’s insurers. Lessor’s consent, if granted, to any assignment or sublease shall be deemed limited solely to said original assignment or sublease, and Lessor reserves the right to consent or to withhold consent (pursuant to the provisions of this Article 12) with respect to any further or additional assignments, sublets or other transfers of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Peerless Systems Corp)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's ’s consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, Lessee shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee shall pay upon demand Lessor's ’s processing costs and attorneys' fees incurred in determining whether to give such consent, not to exceed One Thousand Dollars ($1,000.00). Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's ’s personal property or sums paid in connection with the supply of electricity or HVAC), either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee shall pay to Lessor as additional rent fifty percent (50%) of all of the excess of each such payment of rent or other consideration received by Lessee within five (5) days of its receipt. Furthermore, for any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's ’s insurers. Lessor’s consent, if granted, to any assignment or sublease shall be deemed limited solely to said original assignment or sublease, and Lessor reserves the right to consent or to withhold consent with respect to any further or additional assignments, sublets or other transfers of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Manhattan Bancorp)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee shall pay upon demand Lessor's processing costs and attorneys' fees incurred in determining whether to give such consent. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC)consideration, either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee shall pay to Lessor as additional rent all rent, fifty percent (50%) of the excess of each such payment of rent or other consideration received by Lessee within five (5) days of its receipt. Furthermorereceipt or, for any proposed subleasein the event the sublessee or assignee makes payment directly to the Lessor, Lessor shall refund fifty percent (50%) of the sublease agreement (a) shall require Lessee and Sublessee excess to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurersLessee.

Appears in 1 contract

Samples: 1 Lease Agreement (Hawthorne Financial Corp)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's In ------------------------------------------------------- the event that Landlord shall consent to any assignmentan assignment or sublease under the provisions of this Article VII, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee Tenant shall pay upon demand LessorLandlord's processing costs, reviewing costs reasonable administrative and attorneys' fees incurred in determining whether to give giving such consent. Notwithstanding any permitted assignment or subletting, Lessee Tenant shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee Tenant under this the Lease and for compliance with all obligations under the terms, provisions and covenants of this the Lease. If for any proposed assignment or sublease, Lessee Tenant receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC)consideration, either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee Tenant shall pay to Lessor Landlord as additional rent all rent, fifty percent (50%) of the excess of each such payment of rent or other consideration received by Lessee Tenant within five (5) days of its receipt. Furthermorereceipt or, for any proposed subleasein the event the sublessee or assignee makes payment directly to Landlord, Landlord shall refund fifty percent (50%) of the sublease agreement excess to Tenant; provided, however, that Tenant may deduct from such excess of each such payment of rent or other consideration received by Tenant the actual reasonable and documented costs of the following to the extent paid by Tenant in connection with the assignment or subletting: (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one anotherbrokers' commissions, and (b) attorneys' fees, (c) the costs of advertising the space for sublease or assignment and (d) any improvement allowance, planning allowance or moving expenses granted to the assignee or sublessee by Tenant. Landlord may, from time to time, request documentation from Tenant supporting the above deductions from excess consideration and Tenant shall require Sublessee supply such supporting documentation to obtain a waiver Landlord within five (5) days of subrogation against Lessor from SublesseeLandlord's insurersrequest.

Appears in 1 contract

Samples: Lease Agreement (Shopping Com)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining LessorLandlord's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor Landlord so requests, Tenant shall require that the assignee or sublessee remit directly to Lessor Landlord on a monthly basis, all rent Rent due to Lessee Tenant by said assignee or sublessee. Lessee In the event that Landlord shall consent to an assignment or sublease under the provisions of this Article 12, Tenant shall pay upon demand LessorLandlord's reasonable processing costs and attorneys' fees incurred in determining whether to give giving such consentconsent CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. Notwithstanding any permitted assignment or subletting, Lessee Tenant shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee Tenant under this the Lease and for compliance with all obligations under the terms, provisions and covenants of this the Lease. If for any proposed assignment or sublease, Lessee Tenant receives rent Rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC)consideration, either initially or over the term of the assignment or sublease, in excess of the rent Rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent Rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee Tenant shall pay to Lessor Landlord as additional rent all Rent, fifty percent (50%) of the excess of each such payment of rent Rent or other consideration received by Lessee Tenant within five (5) days of its receipt. Furthermorereceipt or, for any proposed subleasein the event the sublessee or assignee makes payment directly to the Landlord, the sublease agreement Landlord shall retain fifty percent (a50%) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurerssuch excess.

Appears in 1 contract

Samples: Lease Agreement (Brilliant Digital Entertainment Inc)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's In the event that Landlord shall consent to any assignmentan assignment or sublease under the provisions of this ARTICLE 11, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee Tenant shall pay upon demand Lessor's Landlord’s processing costs, reviewing costs and an attorneys' fees incurred in determining whether to give giving such consent, with processing costs, reviewing costs and attorney’s fees shall not exceed $2,000,000 for each requested Landlord consent. Notwithstanding any permitted assignment or subletting, Lessee Tenant shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee Tenant under this the Lease and for compliance with all obligations under the terms, provisions and covenants of this the Lease. If for any proposed assignment or subleasesublease requiring Landlord’s consent, Lessee Tenant receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC)consideration, either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee Tenant shall pay to Lessor Landlord as additional rent all rent, fifty percent (50%) of the excess of each such payment of rent or other consideration received by Lessee Tenant within five (5) days of its receipt. Furthermorereceipt or, for any proposed subleasein the event the sublessee or assignee makes payment directly to Landlord, Landlord shall refund fifty percent (51)%) of the sublease agreement excess to Tenant; provided, however, that Tenant may deduct from such excess of each such payment of rent or other consideration received by Tenant the actual, reasonable and documented costs of the following to the extent paid by Tenant in connection with the assignment or subletting: (a) shall require Lessee and Sublessee brokers’ commissions, (b) attorneys’ fees, (c) the costs of advertising the space for sublease or assignment, (d) any improvement allowance, planning allowance or moving expenses granted to send Lessor copies of any and all notices concerning the Premises that either party shall send to one anotherassignee or sublessee by Tenant, and (be) the unamortized costs of any improvements paid for by Tenant in connection with the transfer. Landlord may, from time to time, request documentation from Tenant supporting the above deductions from excess consideration and Tenant shall require Sublessee supply such supporting documentation to obtain Landlord within five (5)days of Landlord’s request. Notwithstanding the foregoing, Tenant shall not be required to pay only of the excess rent or other consideration that Tenant shall receive with respect to any sublease(s) entered into by Tenant and the subtenant(s) for up to the first 30,000 square feet of the Premises during the first six (6) months of the Lease Term, as long as a waiver fully executed copy of subrogation against Lessor from Sublessee's insurerssuch sublease shall have been provided to Landlord within such six (6) month period; provided, however, that any such subleases shall otherwise be subject to the other terms and conditions of this ARTICLE 11.

Appears in 1 contract

Samples: Lease Agreement (Ikos Systems Inc)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent Lessor not objecting to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises Premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. In the event that Lessor does not object to an assignment or sublease under the provisions of this Section 13, Lessee shall pay upon demand Lessor's processing costs and attorneys' fees incurred in determining whether Lessor agreeing not to give such consentobject. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this the Lease and for compliance with all obligations under the terms, provisions and covenants of this the Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC)consideration, either initially or over the term of the assignment or sublease, in excess of the rent Rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee shall pay to Lessor as additional rent all rent, one hundred percent (100%) of the excess of each such payment of rent or other consideration received by Lessee within five (5) days of its receipt. Furthermore, for any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurers.

Appears in 1 contract

Samples: Inetvisionz Com Inc

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Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublesseesublessee (and should Lessor not request that the assignee or sublessee remit directly to Lessor the rent due to Lessee, then the assignee or sublessee shall not make any payment to Lessor on behalf of Lessee). Lessee shall pay upon demand Lessor's reasonable out-of-pocket processing costs and attorneys' fees incurred in determining whether to give such consent. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC), either initially or over the term of the assignment or sublease, in excess of the rent Base Rental required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments for payments to assure that brokers and all other payments called related costs for hereunder are taken into accountthe sublease, Lessee shall pay to Lessor as additional rent all fifty percent (50%) of the excess of each such payment of rent or other consideration received by Lessee within five (5) days of its receipt. Furthermore, for any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party Party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurers. Lessor's consent, if granted, to any assignment or sublease shall be deemed limited solely to said original assignment or sublease, and Lessor reserves the right to consent or to withhold consent with respect to any further or additional assignments, sublets or other transfers of the Lease.

Appears in 1 contract

Samples: Lease Agreement (A-Mark Precious Metals, Inc.)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent Landlord not objecting to any assignment, encumbrance or sublease, Lessee Tenant must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises space in the BuildingProject, but not less than the then current Rent under this Lease and, if Lessor Landlord so requests, shall require that the assignee or sublessee remit directly to Lessor Landlord on a monthly basis, all rent due to Lessee Tenant by said assignee or sublessee. Lessee In the event that Landlord does not object to an assignment or sublease under the provisions of this Section 18, Tenant shall pay upon demand LessorLandlord's reasonable processing costs and attorneys' reasonable attorney's fees incurred in determining whether by Landlord agreeing not to give such consentobject. Notwithstanding any permitted assignment or subletting, Lessee Tenant shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee Tenant under this the Lease and for compliance with all obligations under the terms, provisions and covenants of this the Lease. If for any proposed assignment or sublease, Lessee Tenant receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC)consideration, either initially or over the term of the assignment or sublease, in excess of the rent Rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder are taken into account, Lessee Tenant shall pay to Lessor Landlord as additional rent all rent, one hundred percent (100%) of the excess of each such payment of rent or other consideration received by Lessee Tenant within five (5) days of its receipt. Furthermore, for any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurers.

Appears in 1 contract

Samples: Sonosight Inc

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee shall pay upon demand Lessor's processing costs and attorneys' fees incurred in determining whether to give such consent. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC), either initially or over the term of the assignment or sublease, in excess of the rent required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess of such rent fairly allocable to such portion, after appropriate adjustments for payments to assure that brokers and all other payments called related costs for hereunder are taken into accountthe sublease, Lessee shall pay to Lessor as additional rent all fifty percent (50%) of the excess of each such payment of rent or other consideration received by Lessee within five (5) days of its receipt. Furthermore, for any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee to obtain a waiver of subrogation against Lessor from Sublessee's insurers. Lessor's consent, if granted, to any assignment or sublease shall be deemed limited solely to said original assignment or sublease, and Lessor reserves the right to consent or to withhold consent with respect to any further or additional assignments, sublets or other transfers of the Lease.

Appears in 1 contract

Samples: Lease Agreement (iDcentrix, Inc.)

Conditions Regarding Consent to Sublease and Assignment. As a condition for obtaining Lessor's consent to any assignment, encumbrance or sublease, Lessee must require that the rent payable by such assignee or sublessee is at least at the then current rental rates for the Premises or comparable premises in the Building, and, if Lessor so requests, shall require that the assignee or sublessee remit directly to Lessor on a monthly basis, all rent due to Lessee by said assignee or sublessee. Lessee shall pay upon demand within ten (10) days of receipt of Lessor's ’s election of (i) or (ii) above Lessor’s processing costs and attorneys' fees (not to exceed $3,000.00 in the aggregate) incurred in determining whether to give such consentconsent if such consent is required by this Lease. Notwithstanding any permitted assignment or subletting, Lessee shall at all times remain directly, primarily and fully responsible and liable for all payments owed by Lessee under this Lease and for compliance with all obligations under the terms, provisions and covenants of this Lease. If for any proposed assignment or sublease, Lessee actually receives rent or other consideration (including, but not limited to, sums paid for the sale or rental of Lessee's personal property or sums paid in connection with the supply of electricity or HVAC), Profits either initially or over the term of the assignment or sublease, in excess of the rent and all other charges required by this Lease, or, in the case of the sublease of a portion of the Premises, in excess Lessee shall be required to pay Lessor fifty percent (50%) of such rent fairly allocable Profits. Whenever Lessor is entitled to such portionshare in any Profits resulting from an assignment or sublease of the Premises, after appropriate adjustments the following shall constitute the definition of “Profits”: the gross revenue received from the assignee or sublessee during the sublease term or during the assignment with respect to assure that all other payments called for hereunder are taken into account, Lessee shall pay the space covered by the sublease or the assignment (“Transferred Space”) less: (a) the gross revenue paid to Lessor as additional rent all by Lessee during the period of the excess of each such payment of rent sublease term or during the assignment with respect to the Transferred Space; (b) any improvement allowance or other consideration received economic concession (planning allowance, moving expenses, etc.) paid by Lessee within five to the sublessee or assignee; (5c) days broker’s commissions paid by Lessee in connection with the sublease or assignment; (d) reasonable attorney’s fees paid by Lessee in connection with the sublease or assignment; (e) costs of its receiptadvertising the Transferred Space for sublease or assignment; and (f) any other reasonable costs actually paid in assigning or subletting the Transferred Space. Furthermore, for For any proposed sublease, the sublease agreement (a) shall require Lessee and Sublessee the sublessee to send Lessor copies of any and all notices concerning the Premises that either party shall send to one another, and (b) shall require Sublessee the sublessee to obtain a waiver of subrogation against Lessor from Sublessee's the sublessee’s insurers. Lessor’s consent, if granted, to any assignment or sublease shall be deemed limited solely to said original assignment or sublease, and Lessor reserves the right to consent or to withhold consent (pursuant to the provisions of this Article 12) with respect to any further or additional assignments, sublets or other transfers of the Lease.

Appears in 1 contract

Samples: Lease Agreement (Fisker Inc./De)

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