Common use of Demise and Term Clause in Contracts

Demise and Term. Sublandlord hereby leases to Subtenant, and Subtenant hereby hires from Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”) of this Sublease shall commence upon the latest of (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”), unless sooner terminated as herein provided. If either party hereto shall so request, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main

Appears in 1 contract

Samples: Sublease (Datadog, Inc.)

AutoNDA by SimpleDocs

Demise and Term. Sublandlord (A) Sublessor hereby leases to Subtenant, Sublessee and Subtenant --------------- Sublessee hereby takes and hires from SublandlordSublessor the Subleased Premises for the term and upon the terms and conditions set forth herein, subject to the terms and conditions provisions of Section 41 of the Main Lease, and contingent upon the written consent of the Landlord to this Sublease pursuant to Section 41 of the Lease (as defined hereinafter) (including the Landlord's consent to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part use of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term set forth in paragraph 7 hereof (as defined hereinafter"CONSENT TO SUBLEASE"). “Building” shall mean the building known as . (B) The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”"TERM") of this Sublease shall commence upon the latest of on August 15, 1998 (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”"COMMENCEMENT DATE"), except as otherwise provided herein, and the Term hereof shall expire at 11:59 p.m. end on the last day of the forty-eighth May 30, 2001 (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”"EXPIRATION DATE"), unless sooner terminated as herein providedpursuant to the provisions of this Sublease or the Lease. If either party hereto shall so request, Sublessor warrants and represents that the parties hereto shall execute term of the Lease extends beyond the Expiration Date. Promptly after execution and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 delivery of this Sublease), but Sublessor shall request the failure of either party Consent to execute and deliver such an instrument Sublease. In the event that on or before August 10, 1998, Sublessor shall not affect have obtained the occurrence of the Rent Commencement Date. Subtenant expressly waives any right Consent to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives both Sublessor and Sublessee shall have the right to recover any damagescancel this Sublease upon two (2) days written notice to the other, direct or indirectand thereupon this Sublease shall cease and terminate as if the date of such cancellation was the Expiration Date as herein defined. Notwithstanding the foregoing, which may result from Landlord’s failure Sublessee shall not have the right to deliver possession of the Subleased Premises by September 1until (i) Landlord has signed the Consent to Sublease, 2018, for whatever reason, including, without limitation, holdover (ii) Sublessor has received the Security in the full amount required under Section 25 of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidableand (iii) Sublessor has received the sum of, nor shall Sublandlord be liable $3,250.00 representing the first one and one half installments of monthly Fixed Rent payable pursuant to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to paragraph 3(A) of this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Sublease Agreement (Xoom Inc)

Demise and Term. Sublandlord (A) Sublessor hereby leases to Subtenant, Sublessee and Subtenant Sublessee hereby takes and hires from SublandlordSublessor the Subleased Premises for the term and upon the terms and conditions set forth herein, subject to the terms and conditions provisions of Article 15 of the Main Lease, and contingent upon the written consent of the Landlord to (i) this Sublease pursuant to Section 15.18 of the Lease (as defined hereinafter) (including the Landlord's consent to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part use of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised set forth in paragraph 7 hereof ("Consent to Sublandlord under the Main Lease, for the Term Sublease") and (ii) Sublessee's Initial Plans and Specifications (as defined hereinafterhereinafter defined; Landlord's consent to same being hereinafter referred to as the "Consent to Sublessee's Initial Plans and Specifications"). “Building” shall mean the building known as . (B) The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term ("Term") of this Sublease shall commence upon the latest of on April 15, 1997 (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease "Commencement Date"), except as otherwise provided herein, and the Term hereof shall expire at 11:59 p.m. end on the last day of the forty-eighth December 20, 2000 (48th) full calendar month following the Rent Commencement Date (the “"Expiration Date"), unless sooner terminated as herein providedpursuant to the provisions of this Sublease or the Lease. If either party hereto shall so request, Sublessor warrants and represents that the parties hereto shall execute term of the Lease extends beyond the Expiration Date. Promptly after execution and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 delivery of this Sublease, Sublessor shall request the Consent to Sublease and the Consent to Sublessee's Initial Plans and Specifications (provided Sublessee has submitted Sublessee's Initial Plans and Specifications to Sublessor in full compliance with Section 9 hereof and Article 5 of the Lease upon the execution hereof). In the event that on or before April 15, but the failure of either party to execute and deliver such an instrument 1997 Sublessor shall not affect have obtained the occurrence Consent to Sublease and the Consent to Sublessee's Initial Plans and Specifications, Sublessor shall extend the Commencement Date of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of until such time as the New York Real Property Law two Consents have been obtained. In the event that on or under any present or future statute of similar import then in force andbefore May 15, except as expressly set forth elsewhere in this Sublease1997 Sublessor shall not have obtained the Consent to Sublease and the Consent to Sublessee's Initial Plans and Specifications, further expressly waives both Sublessor and Sublessee shall have the right to recover any damagescancel this Sublease upon five (5) days written notice to the other, direct or indirectand thereupon this Sublease shall cease and terminate as if the date of such cancellation was the Expiration Date as herein defined. Notwithstanding the foregoing, which may result from Landlord’s failure Sublessee shall not have the right to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover until Landlord has signed the Consent to Sublease and the Consent to Sublessee's Initial Plans and Specifications and Sublessor has received the Security in the full amount required under Section 25 of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Lease (Turbochef Inc)

Demise and Term. (a) Subject to and in accordance with all of the terms, covenants and conditions of this Sub-Sublease, Sub-Sublandlord hereby leases subleases the Magma Premises to Sub-Subtenant, and Sub-Subtenant hereby hires and accepts the Magma Premises from Sub-Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” for a term (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Magma Term”) of this Sublease shall to commence upon the latest of (a) September on February 1, 2018, 2007 (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Magma Commencement Date”), and the Term hereof shall to expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date October 31, 2011 (the “Magma Expiration Date”), both dates inclusive, unless the Magma Term shall sooner terminated as herein provided. If either party hereto shall so requestend pursuant to any of the terms, the parties hereto shall execute covenants and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 conditions of this Sublease), but Sub-Sublease or the failure of either party to execute and deliver such an instrument shall not affect Prime Lease. (b) In the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223event that Sub-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of floors 1, 2 and 3 of the Subleased Magma Premises upon such dateto Sub-Subtenant on the date Prime Landlord delivers its Consent (as defined in Section 8(b) below) or floor 4 of the Magma Premises on or before the Magma Commencement Date due to factors beyond Sub-Sublandlord’s or Sublandlord’s reasonable control (including, without limitation, Prime Landlord’s failure or refusal to deliver its Consent in a timely manner), Sub-Sublandlord shall not be subject to any liability therefor and the validity of this Sub-Sublease shall not be void or voidableimpaired, nor shall Sublandlord be liable but all Rent and other obligations of Sub-Subtenant attributable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” the Magma Premises shall be limited abated until such time as possession thereof is delivered to mean Sub-Subtenant. (c) Sub-Sublandlord will allow Sub-Subtenant access to the Magma Premises, except for the fourth floor of the Magma Premises, beginning when this Sub-Sublease is executed and include only the tenant all necessary approvals under the Unit Ground Prime Lease (as defined in Exhibit “G” are obtained, for the purpose of planning, designing and installing Sub-Subtenant’s fixtures, furniture, equipment data and phone lines, but not for the operation of business, subject to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer all of the Unitprovisions of this Sub-Sublease, except Sub-Subtenant will not be obligated to pay Base Rent or Main Landlord’s interest any additional rent during such period. Sub-Sublandlord will allow Sub-Subtenant access to the fourth floor of the Magma Premises on or before the Magma Commencement Date. The Magma Commencement Date shall be delayed by one day for each day that Sub-Sublandlord fails to permit Sub-Subtenant access to the Magma Premises as a lessee under the Unit Ground Lease, set forth in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Mainthis Section 1(c).

Appears in 1 contract

Samples: Sub Sublease (Magma Design Automation Inc)

Demise and Term. Sublandlord a. Sublessor hereby leases subleases to Subtenant, and Subtenant hereby hires from SublandlordSublessor, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 4,321 rentable square feet and being of commercial office space constituting a portion of the entire fortythirty-fourth (44th34th) floor in the building located at 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx (the “Building”), as substantially shown on the cross-hatch of the floor plan attached hereto as on Exhibit “A” annexed hereto and made a part hereof (the “Subleased Premises”), in . The Subleased Premises is the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of entire premises (the premises “Premises”) that were has been leased to Sublandlord by FC Eighth Ave.Sublessor under a lease dated October 1, 2001 between 00 Xxxxx Xxxxxx LLC, a New York limited liability company as landlord (the Main Landlord”) under and Sublessor, as tenant (the Main “Prime Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). A redacted copy of the Prime Lease is annexed to this Sublease as Exhibit BuildingBshall mean the building known as and made a part hereof. b. The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (the “Term”) of this Sublease shall commence upon the latest of ten (a10) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) days following the date that Subtenant receives the Main Landlord’s Landlord may give its Consent (as defined hereinafter defined) to this Sublease in Section 36 of the manner required by this Sublease) Sublease and the Prime Lease (such date, the “Sublease Commencement Date”), ) and the Term hereof shall expire at 11:59 p.m. P.M. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date October 30, 2011 (the “Expiration Date”), ) unless sooner canceled or otherwise terminated as herein providedprovided in this Sublease. If either party hereto Notwithstanding the foregoing, Sublessor shall so request, not be subject to any liability for its failure to deliver the parties hereto shall execute Subleased Premises to Subtenant by any particular date and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 validity of this Sublease), but the failure of either party to execute and deliver such an instrument Sublease shall not affect be impaired thereby nor the occurrence Expiration Date extended thereby. c. Sublessor represents and warrants to Subtenant that (i) the copy of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-Prime Lease attached hereto as Exhibit “B” is a true and accurate copy of the New York Real Property Law Prime Lease and the Prime Lease has not been amended or under any present or future statute of similar import then in force and, modified except as expressly set forth elsewhere in this SubleaseExhibit B attached hereto, further expressly waives (ii) Sublessor is not now, and as of the right to recover Commencement Date will not be, in default or breach of any damagesof the provisions of the Prime Lease, direct (iii) Sublessor has no knowledge of any claim by Landlord that Sublessor is in default or indirectbreach of any of the provisions of the Prime Lease, which may result from Landlord’s failure to deliver possession (iv) Sublessor has no knowledge of any default or breach by Landlord of any of the provisions of the Prime Lease, and (v) no other agreements exist by and between Landlord and Sublessor affecting the Subleased Premises by September 1, 2018, except for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined those set forth in Exhibit “GBto this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Mainattached hereto.

Appears in 1 contract

Samples: Sublease (Shutterstock, Inc.)

Demise and Term. Sublandlord hereby A. For and during the term established below, Sublessor leases to Subtenant, and Subtenant hereby hires from Sublandlord, subject to Sublessee the terms and conditions Demised Premises. The leasing of the Main Lease Demised Premises by Sublessee shall include the right of Sublessee during the term of this Sublease (as defined hereinaftera) (to access the extent disclosed to Subtenant) Building common areas in common with the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), other tenants in the Building having an address and (b) to use all fixtures, improvements and betterments owned or leased by Landlord which, at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of any time during the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 term of this Sublease, are attached to or installed in the Demised Premises, all subject to such restrictions, rules, regulations, security arrangements and charges (if any) as are provided for in the Lease or this Sublease. B. The term (“Term”) of this Sublease shall commence upon on the latest of Effective Date (athe "Commencement Date ") September 1and expire on the applicable Delivery Date with respect to the Initial Space, 2018, (b) the date of Sublandlord’s delivery Second Space and each Partial Block delivered to Sublessor pursuant to the terms of the Subleased Premises Assignment, as more particularly described on Exhibit B of the Assignment (as to Subtenant each, the "Expiration Date"), unless sooner cancelled or otherwise terminated as provided in this Sublease, provided, however, that in any event this Sublease shall terminate no later than December 31, 2002 (the condition required by Section 13(a) "Final Termination Date"). C. If for any reason the Lease is terminated prior to the Expiration Date of this Sublease, or other than by reason of Sublessor's default thereunder (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”), unless sooner terminated as herein provided. If either party hereto shall so request, the parties hereto shall execute and deliver not due to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of Sublessee's default under this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall be deemed to have been terminated on the date that is one(1) day prior to the date of termination of the Lease and Sublessor shall not be void or voidable, nor shall Sublandlord be liable to Subtenant Sublessee by reason thereof for any damage resulting from Sublandlord’s inability damages or otherwise, except that Sublessor shall return to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so Sublessee that in the event portion of any saleRent (hereinafter defined) paid in advance by Sublessee, assignment or transfer if any, which is applicable to the period following the date of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Maintermination.

Appears in 1 contract

Samples: Sublease (Credit Suisse First Boston Usa Inc)

Demise and Term. Sublandlord hereby A. For and during the term established below, Sublessor leases to SubtenantSubtenant the Demised Premises, and Subtenant hereby hires from Sublandlord, subject to the terms and conditions consisting of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 362,155 rentable square feet and being ("RSF of the entire forty-fourth Demised Premises") of space at the Building. The leasing of the Demised Premises by Subtenant shall include the right of Subtenant (44tha) floor as substantially shown on to access the floor plan attached hereto as Exhibit “A” (Building common areas in common with the “Subleased Premises”), other tenants in the Building having an address and (b) to use all fixtures, improvements and betterments owned or leased by Overlandlord which, at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of 2 any time during the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 term of this Sublease, are attached to or installed in the Demised Premises, all subject to such restrictions, rules, regulations, security arrangements and charges (if any) as are provided for in the Overxxxxx. B. The term (subject to extension as provided herein, the "Term") of this Sublease shall commence upon on May 19, 2001 (the latest of (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease "Commencement Date”)") and expire on November 17, and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date 2021 (the "Expiration Date"), unless sooner canceled or otherwise terminated as herein provided. If either party hereto shall so request, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere provided in this Sublease, further expressly waives the . C. Sublessor shall have a one time right to recover any damagescancel this Sublease effective as of May 31, direct or indirect2011 by giving written notice (the "Sublessor Cancellation Notice") to Subtenant by no later than May 1, 2008, time being of the essence as to the giving of such notice, which may result from Landlord’s failure notice shall state that Sublessor unconditionally elects to cancel this Sublease effective as of May 31, 2011. In the event Sublessor fails to timely deliver possession of a Sublessor Cancellation Notice in compliance herewith, and unless Subtenant has delivered the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such dateSubtenant Cancellation Notice (as hereinafter defined), this Sublease shall not be void or voidablecontinue until the Expiration Date, nor unless otherwise terminated as provided in this Sublease. In the event Sublessor timely delivers a Sublessor Cancellation Notice in compliance herewith, the Expiration Date as defined herein shall Sublandlord be liable for all purposes mean May 31, 2011. D. Subtenant shall have a one time right to cancel this Sublease effective as of May 31, 2011 by giving written notice (the "Subtenant Cancellation Notice") to Sublessor by no later than April 1, 2008, time being of the essence as to the giving of such notice, which notice shall state that Subtenant unconditionally elects to cancel this Sublease effective as of May 31, 2011. In the event Subtenant fails to timely deliver a Subtenant Cancellation Notice in compliance herewith, and unless Sublessor has delivered the Sublessor Cancellation Notice, this Sublease shall continue until the Expiration Date, unless otherwise terminated as provided in this Sublease. In the event Subtenant timely delivers a Subtenant Cancellation Notice in compliance herewith, the Expiration Date as defined herein shall for any damage resulting from Sublandlord’s inability all purposes mean May 31, 2011. E. In the event that Sublessor cancels this Sublease pursuant to deliver such possession. “Main Landlord” Article 2.C hereof, Sublessor shall be limited pay to mean and include only Subtenant, by no later than June 30, 2011, an amount (the tenant under "Sales Price") equal to twenty-five percent (25%) of the Unit Ground Lease unamortized value (as defined in Exhibit “G” to this Sublease)of May 31, to whom 2011) of the Main Lease may be assigned, or a mortgagee in possession, so that leasehold improvements (the "Remaining Lease-hold Improvements") which remain in the event of any sale, assignment or transfer Demised Premises following Subtenant's vacation of the UnitDemised Premises on May 31, or Main Landlord’s interest as a lessee under 2011; provided, however, that solely for the Unit Ground Leasepurpose of calculating the Sales Price, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainRemaining Leasehold Improvements

Appears in 1 contract

Samples: Sublease (Instinet Group Inc)

Demise and Term. Sublandlord Sublessor hereby leases to Subtenant, and Subtenant hereby hires from Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, Sublessor: those certain premises constituting (herein called the "Subleased Premises") consisting of approximately 32,623 102,283 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown located on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part first through fifth floors of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as 000 Xxxxxxx Xxx Xxxxxxxxx Xxxxx, Xxx Xxxxxxxxx, Xxxxxxxxxx, building 2 (herein called the "Building") The New York Times Building, in Subleased Premises constitute the Borough entirety of Manhattan, City, County and State the Premises leased to Sublessor pursuant to the terms of New Yorkthe Main Lease. Subject to Section 36 of this Sublease, the The term (“Term”) of this Sublease shall commence upon be the latest period commencing on the date after the consent of Overlandlord (as hereinafter defined) to a fully-executed Sublease (such consent, the “Overlandlord’s Consent”) that is the earliest of (ai) September 1, 2018substantial completion of Subtenant’s Work (as defined below) in the Subleased Premises, (bii) Subtenant’s occupancy of the Subleased Premises, (iii) ten (10) months after the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main LandlordOverlandlord’s Consent and (as defined in Section 36 of this Subleaseiv) August 1, 2010 (such date, herein called the “Sublease "Commencement Date"), and the Term hereof shall expire ending at 11:59 p.m. on the last day of the forty-eighth P.M., one hundred and fourteen (48th114) full calendar month following the Rent Commencement Date months thereafter but no later than January 30, 2020 (the “Expiration Date”), unless sooner terminated as herein provided (the "Term"); provided. If either party hereto shall so request, however, notwithstanding anything herein to the contrary, the parties hereto Term shall execute and deliver to each other an instrument confirming expire no later than the Rent Commencement Date day before the expiration of the 10th year of the Term (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence Lease) of the Rent Commencement Date. Lease which the parties hereto acknowledge will occur on January 30, 2020; provided, further that if Subtenant expressly waives any right to rescind this Sublease under Section 223-has entered into a direct lease with Overlandlord for the lease of the New York Real Property Law or under any present or future statute of similar import Subleased Premises commencing February 1, 2020, then Subtenant may remain in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, under this Sublease for whatever reason, including, without limitation, holdover one additional day and pay Fixed Rent and Supplemental Rent for such additional day; the parties agreeing that such right to extend shall in no event constitute an assignment of one or both tenants currently occupying the Subleased PremisesLease. If for any reason Sublandlord is unable to deliver possession The payment of Fixed Rent (as hereinafter defined) and Supplemental Rent (as hereinafter defined) shall commence on the Commencement Date. Subtenant shall have no interest in the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to expiration of this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Sublease (Nektar Therapeutics)

Demise and Term. Sublandlord Sublessor hereby leases to Subtenant, and Subtenant hereby hires from SublandlordSublessor, subject to the terms and conditions that certain portion of the Main Lease second floor of the Demised Premises (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (herein called the “Subleased Premises”), ) as more particularly identified on Exhibit A annexed hereto and forming a part hereof) in the Building having an address building located at 000 200 Xxxxxx Xxxxxx, Xxx XxxxPurchase, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main LandlordBuilding) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”) of this Sublease shall commence upon the latest be for a period of two (a2) September 1Lease Years (as such term is hereinafter defined), 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) such term commencing on the date that the Sublessor (or its counsel) advises Subtenant receives (or its counsel) in writing that the Landlord under the Main Landlord’s Consent Lease has consented to this Sublease (as defined in Section 36 of this Sublease) (such date, herein called the “Sublease Commencement Date”), and ending and expiring (the Term hereof shall expire “Expiration Date”) at 11:59 p.m. P.M. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”)second Lease Year, unless sooner terminated as herein provided. If either party hereto Subtenant unconditionally acknowledges and agrees that it shall so requesthave no option or right to extend or renew the term of the Sublease beyond the Expiration Date of the Sublease, and on such date, or such sooner date if the parties hereto Sublease shall execute be sooner terminated in accordance with its terms or at law, Subtenant shall at its sole cost and expense vacate the Subleased Premises and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease)unencumbered, but the failure of either party to execute vacant and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223broom-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver clean possession of the Subleased Premises by September 1to Sublessor, 2018ordinary wear and tear excepted, for whatever reasonand shall at its sole cost and expense on or prior to such date remove therefrom any and all of its personal property, including, without limitation, holdover of one or both tenants currently occupying trade fixtures and furnishings (other than the Subleased PremisesFurniture (as defined in Article 35 hereof)) located therein. If for any reason Sublandlord is unable to deliver possession Possession of the Subleased Premises upon such date, shall be delivered in broom clean condition by Sublessor to Subtenant on the Commencement Date. The first “Lease Year” of this Sublease shall not be void or voidablecommence on the Commencement Date of this Sublease and shall end with the expiration of the next succeeding twelve (12) months, nor shall Sublandlord be liable plus the number of days, if any, required to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. have the period end at the expiration of the calendar month, and the second Main LandlordLease Year” shall be limited run concurrently with the next succeeding period of twelve (12) calendar months. Subtenant shall, at Sublessor’s option, within fifteen (15) days of written request made by Sublessor to mean Subtenant, execute the certificate (the “Commencement Date Certificate”) annexed hereto as Exhibit B certifying the Commencement Date and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to Expiration Date of this Sublease), and such dates shall be deemed conclusive for purposes of this Article and this Sublease. The failure by Subtenant to whom so execute the Main Lease may be assigned, or Commencement Date Certificate in good faith by the date so specified above shall constitute a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee default by Subtenant under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Mainthis Sublease.

Appears in 1 contract

Samples: Sublease (MVC Capital, Inc.)

Demise and Term. Sublandlord (A) Sublessor hereby leases to Subtenant, Sublessee and Subtenant Sublessee hereby takes and hires from SublandlordSublessor the Subleased Premises for the term and upon the terms and conditions set forth herein, subject to the terms and conditions provisions of Section 41 of the Main Lease, and contingent upon the written consent of the Landlord to this Sublease pursuant to Section 41 of the Lease (as defined hereinafter) (including the Landlord's consent to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part use of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term set forth in paragraph 7 hereof (as defined hereinafter"CONSENT TO SUBLEASE"). “Building” shall mean the building known as . (B) The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”"TERM") of this Sublease shall commence upon the latest of on August 15, 1998 (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”"COMMENCEMENT DATE"), except as otherwise provided herein, and the Term hereof shall expire at 11:59 p.m. end on the last day of the forty-eighth May 30, 2001 (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”"EXPIRATION DATE"), unless sooner terminated as herein providedpursuant to the provisions of this Sublease or the Lease. If either party hereto shall so request, Sublessor warrants and represents that the parties hereto shall execute term of the Lease extends beyond the Expiration Date. Promptly after execution and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 delivery of this Sublease), but Sublessor shall request the failure of either party Consent to execute and deliver such an instrument Sublease. In the event that on or before August 10, 1998, Sublessor shall not affect have obtained the occurrence of the Rent Commencement Date. Subtenant expressly waives any right Consent to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives both Sublessor and Sublessee shall have the right to recover any damagescancel this Sublease upon two (2) days written notice to the other, direct or indirectand thereupon this Sublease shall cease and terminate as if the date of such cancellation was the Expiration Date as herein defined. Notwithstanding the foregoing, which may result from Landlord’s failure Sublessee shall not have the right to deliver possession of the Subleased Premises by September 1until (i) Landlord has signed the Consent to Sublease, 2018, for whatever reason, including, without limitation, holdover (ii) Sublessor has received the Security in the full amount required under Section 25 of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidableand (iii) Sublessor has received the sum of, nor shall Sublandlord be liable $3,250.00 representing the first one and one half installments of monthly Fixed Rent payable pursuant to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to paragraph 3(A) of this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Sublease Agreement (NBC Internet Inc)

Demise and Term. Sublandlord 1.01 Landlord hereby leases to SubtenantTenant, and Subtenant Tenant hereby hires from SublandlordLandlord, upon and subject to the terms terms, covenants, provisions and conditions of this Lease, the Main Lease following (as defined hereinafter) the “Leased Property”): (to the extent disclosed to Subtenanta) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being portion of the entire forty-fourth (44th) first floor as substantially of the Facility shown hatched on the floor plan attached annexed hereto as Exhibit “A” B and made a part hereof (the “Subleased Premises”), ; and (b) the FF&E (as hereinafter defined). Tenant acknowledges that the floor plan annexed hereto as Exhibit B is solely for the purpose of identifying the Premises and nothing set forth in this Lease shall be construed to be a representation or covenant as to the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part dimensions and/or square foot area of the premises Premises. Tenant acknowledges that were leased the floor plan annexed hereto as Exhibit A is solely for the purpose of identifying the Facility and nothing set forth in this Lease shall be construed to Sublandlord by FC Eighth Ave., LLC, be a New York limited liability company (“Main Landlord”) under the Main Lease, (representation or covenant as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under dimensions and/or square foot area of the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as Facility. 1.02 The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 term of this Sublease, Lease (the term (“Term”) of this Sublease shall commence upon the latest of (a) September 1, 2018, (b) on the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or hereof (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. end on the last day earliest to occur of the forty-eighth (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”)): (i) the date of any expiration or termination of the Purchase Agreement, unless sooner terminated as herein provided. If either party hereto shall so request(ii) December 29, 2005 (provided that if, and only if, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Scheduled Closing Date (as defined in the Purchase Agreement) is duly extended pursuant to Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence 9.1 of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of Purchase Agreement, then the New York Real Property Law or under any present or future statute of similar import then in force anddate “December 29, except as expressly 2005” set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” clause shall be limited deemed to mean and include only be the tenant under earlier of (x) the Unit Ground Lease adjourned Closing Date (as defined in Exhibit the Purchase Agreement) pursuant to the Purchase Agreement and (y) March 28, 2006, or (iii) the date such Term shall sooner cease and terminate as herein provided. For all purposes of this Lease, the term GBusiness Dayshall mean any Monday through Friday that is not a New Jersey State or Federal holiday for which financial institutions or post offices are generally closed in the State of New Jersey. The foregoing notwithstanding, only if the Closing (as defined in the Purchase Agreement) shall actually occur on the Scheduled Closing Date (as defined in the Purchase Agreement, and as same may be adjourned pursuant to this Subleasethe Purchase Agreement), and if Buyer shall request a reasonable period prior to whom the Main Lease may Scheduled Closing Date, then immediately prior to the Closing (but subject to the Closing actually occurring) the Term shall be assignedextended to the date two (2) days after Closing, but such extension shall be without liability or a mortgagee in possession, so that in obligation on the event part of any sale, assignment or transfer Landlord (and this exculpation of Landlord shall survive the Closing and the extension of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Mainterm).

Appears in 1 contract

Samples: Operating Lease (Wilshire Enterprises Inc)

Demise and Term. (a) Subject to and in accordance with all of the terms, covenants and conditions of this Sublease, Sublandlord hereby leases subleases the Subleased Premises to Subtenant, and Subtenant hereby hires and accepts the Subleased Premises from Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” for a term (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Sublease Term”) of this Sublease shall to commence upon on the latest later of (ai) September 1January 5, 20182011, or (bii) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Prime Landlord’s Consent written consent (as defined in Section 36 of “Consent”) to this Sublease) Sublease (such date, the “Sublease Commencement Date”), and to expire on September 30, 2011 (the “Sublease Expiration Date”), both dates inclusive, unless the Sublease Term hereof shall sooner end pursuant to any of the terms, covenants and conditions of this Sublease or the Prime Lease. Sublandlord and Subtenant acknowledge and agree that notwithstanding the fact this Sublease demises the Subleased Premises for the remainder of the term of the Prime Lease, this Sublease shall be deemed to be a sublease and not an assignment of the Prime Lease, and in the event that under any applicable rule of law this Sublease would be deemed to be an assignment of the Prime Lease by reason thereof, the term of this Sublease shall automatically be deemed to expire at 11:59 p.m. on the day immediately preceding the last day of the forty-eighth (48th) full calendar month following term of the Rent Commencement Date (Prime Lease so as to preserve the “Expiration Date”), unless sooner terminated as herein provided. If either party hereto shall so request, intention of the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind that this Sublease under Section 223-be construed as a of sublease and not an assignment. (b) In the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason event that Sublandlord is unable to deliver possession of the Subleased Premises upon such dateto Subtenant on the Sublease Commencement Date due to factors beyond Sublandlord’s reasonable control (including, without limitation, Prime Landlord’s failure or refusal to deliver its Consent in a timely manner), Sublandlord shall not be subject to any liability therefor and the validity of this Sublease shall not be void or voidableimpaired, nor but all Rent and other obligations of Subtenant attributable to the Subleased Premises shall be abated until such time as possession thereof is delivered to Subtenant. If Sublandlord be liable has not delivered possession of the Subleased Premises in the condition required by this Sublease to Subtenant by December 15, 2010 for any damage resulting from Sublandlordreason other than Prime Landlord’s inability failure or refusal to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease Consent or force majeure events, Rent (as defined in Exhibit “G” Paragraph 3(a) below) shall xxxxx for each day after December 15, 2010 that Sublandlord has not delivered the Subleased Premises to Subtenant until the Subleased Premises is delivered in the required condition. If for any reason whatsoever Sublandlord has not delivered the Subleased Premises to Subtenant in the required condition by January 3, 2011, Subtenant shall have the right, but not the obligation, to terminate this Sublease by written notice to Landlord given at any time prior to delivery of the Subleased Premises, in which event neither party shall have any further rights or obligations hereunder and Sublandlord promptly shall refund to Subtenant all sums paid by Subtenant to Sublandlord in connection with Subtenant’s execution of this Sublease. (c) Subject to Sublandlord’s having received the Consent or Prime Landlord’s written consent to Subtenant’s early entry pursuant to the provisions of this Paragraph 1(c), Sublandlord will allow Subtenant access to whom the Main Lease may Subleased Premises from the Effective Date until the Commencement Date for the purpose of installing Subtenant’s furniture, fixtures, voice and data communications systems, and any other equipment necessary for the conduct of Subtenant’s business, but not for the operation of business, subject to all of the provisions of this Sublease except Subtenant will not be assignedobligated to pay Rent during such period. The date upon which Sublandlord actually delivers the Subleased Premises to Subtenant for the early entry period described herein shall be the “Delivery Date”. (d) Notwithstanding anything to the contrary contained in this Sublease, or a mortgagee in possessionif Subtenant and Prime Landlord execute and deliver the Direct Lease, so that Subtenant shall have the right to remain in the event Subleased Premises upon the expiration of any salethis Sublease, assignment or transfer of and Subtenant shall not be obligated to surrender the Unit, or Main Landlord’s interest as a lessee under Subleased Premises to Sublandlord in the Unit Ground condition otherwise required by this Sublease and the Prime Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Sublease (Linkedin Corp)

Demise and Term. (a) Subject to and in accordance with all of the terms, covenants and conditions of this Sub-Sublease, Sub-Sublandlord hereby leases subleases the Magma Premises to Sub-Subtenant, and Sub-Subtenant hereby hires and accepts the Magma Premises from Sub-Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” for a term (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Magma Term”) of this Sublease shall to commence upon the latest of (a) September on February 1, 2018, 2007 (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Magma Commencement Date”), and the Term hereof shall to expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date October 31, 2011 (the “Magma Expiration Date”), both dates inclusive, unless the Magma Term shall sooner terminated as herein provided. If either party hereto shall so requestend pursuant to any of the terms, the parties hereto shall execute covenants and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 conditions of this Sublease), but Sub-Sublease or the failure of either party to execute and deliver such an instrument shall not affect Prime Lease. (b) In the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223event that Sub-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of floors 1, 2 and 3 of the Subleased Magma Premises upon such dateto Sub-Subtenant on the date Prime Landlord delivers its Consent (as defined in Section 8(b) below) or floor 4 of the Magma Premises on or before the Magma Commencement Date due to factors beyond Sub-Sublandlord’s or Sublandlord’s reasonable control (including, without limitation, Prime Landlord’s failure or refusal to deliver its Consent in a timely manner), Sub-Sublandlord shall not be subject to any liability therefor and the validity of this Sub-Sublease shall not be void or voidableimpaired, nor shall Sublandlord be liable but all Rent and other obligations of Sub-Subtenant attributable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” the Magma Premises shall be limited abated until such time as possession thereof is delivered to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainSub-Subtenant.

Appears in 1 contract

Samples: Sub Sublease Agreement

Demise and Term. A. Sublandlord hereby leases sublets the Subleased Premises to Subtenant, and Subtenant hereby hires sublets the Subleased Premises from Sublandlord, subject to upon the terms terms, covenants, conditions, provisions and conditions agreements hereinafter set forth. B. The term of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” Sublease (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”) of this Sublease shall commence upon the latest of five (a5) September 1, 2018, (b) days after the date of Sublandlord’s delivery of on which Sublandlord notifies Subtenant in writing that it has received the Prime Landlord Consent (as hereinafter defined) and delivers the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date July 31, 2025 (the “Expiration Date”), unless sooner terminated ) or on such earlier date as herein providedthis Sublease may expire or terminate pursuant to the terms hereof or by law. If either party hereto shall so request, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect Promptly after the occurrence of the Rent Commencement Date. Subtenant expressly waives , the parties shall agree in writing on the date of the Commencement Date. C. If Sublandlord shall be unable to give possession of the Subleased Premises for any right reason whatsoever, Sublandlord shall not be subject to rescind any liability, nor shall the validity of this Sublease under Section 223-a nor the obligations of Subtenant hereunder be thereby affected, provided however that the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure Commencement Date shall be delayed until Sublandlord is able to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Sublease (Urovant Sciences Ltd.)

AutoNDA by SimpleDocs

Demise and Term. (a) Subject to and in accordance with all of the terms, covenants and conditions of this Sublease, Sublandlord hereby leases subleases the Subleased Premises to Subtenant, and Subtenant hereby hires and accepts the Subleased Premises from Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” for a term (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Sublease Term”) of this Sublease shall to commence upon the latest of (a) September on January 1, 2018, 2012 (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and to expire on December 31, 2012 (the “Sublease Expiration Date”) unless early terminated in accordance herewith, both dates inclusive, unless the Sublease Term hereof shall sooner end pursuant to any of the terms, covenants and conditions of this Sublease or the Prime Lease. Sublandlord and Subtenant acknowledge and agree that notwithstanding the fact this Sublease demises the Subleased Premises for up to the remainder of the term of the Prime Lease, this Sublease shall be deemed to be a sublease and not an assignment of the Prime Lease, and in the event that under any applicable rule of law this Sublease would be deemed to be an assignment of the Prime Lease by reason thereof, the term of this Sublease shall automatically be deemed to expire at 11:59 p.m. on the day immediately preceding the last day of the forty-eighth (48th) full calendar month following term of the Rent Commencement Date (Prime Lease so as to preserve the “Expiration Date”), unless sooner terminated as herein provided. If either party hereto shall so request, intention of the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind that this Sublease under Section 223-be construed as a of sublease and not an assignment. (b) In the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason event that Sublandlord is unable to deliver possession of the Subleased Premises upon such dateto Subtenant on the Sublease Commencement Date due to factors beyond Sublandlord’s reasonable control, Sublandlord shall not be subject to any liability there for and the validity of this Sublease shall not be, impaired, but all Rent and other obligations of Subtenant attributable to the Subleased Premises shall be void or voidable, nor shall abated until such time as possession thereof is delivered to Subtenant. (c) The date upon which Sublandlord be liable actually delivers the Subleased Premises to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” the early entry period described herein shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainDelivery Date”.

Appears in 1 contract

Samples: Sublease (Fox Factory Holding Corp)

Demise and Term. Sublandlord (a) Subject to the terms of this Sublease, --------------- Sublessor hereby leases to Subtenant, and Subtenant hereby hires from Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this SubleaseSublessor, those certain premises constituting approximately 32,623 rentable square feet and being (herein called the "Subleased Premises") consisting of the entire fortytwenty-fourth eighth (44th28th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave.Building, LLCas more particularly identified on Exhibit A annexed hereto and made a part hereof, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to containing those items of office furniture presently located in the Subleased Premises which are demised to Sublandlord under identified on Exhibit C annexed hereto and made a part hereof (the Main Lease, for the Term (as defined hereinafter"Furniture"). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”) of this Sublease shall commence upon be the latest of period commencing on February 15, 1996 (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease "Commencement Date”)") and expiring at midnight on September 13, and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date 1999 (the "Expiration Date"), unless sooner terminated as herein provided. If In the event that Subtenant shall occupy any portion of the Subleased Premises prior to the Commencement Date, Subtenant agrees to be bound by all of the terms and conditions of this Sublease with respect to such use and occupancy. Sublessor and Subtenant shall, upon the request of either party hereto shall so requestsuch party, the parties hereto shall promptly execute and deliver to each other an instrument confirming a statement setting forth the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. . (b) Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law ("Section 223-a") or under any other present or future statute law of similar import then in force andeffect with respect to all or any portion of the Subleased Premises, except as expressly set forth elsewhere in this Sublease, and further expressly waives the any right to recover any damages, direct or indirect, damages which may result from Landlord’s Sublessor's failure or inability to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one all or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession portion of the Subleased Premises upon such date, on the Commencement Date. Subtenant agrees that the provisions of this Sublease shall not be void or voidable, nor shall Sublandlord be liable Section are intended to Subtenant for any damage resulting from Sublandlord’s inability constitute "an express provision to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under contrary" within the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event meaning of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainSection 223-a.

Appears in 1 contract

Samples: Sublease (American Home Mortgage Holdings Inc)

Demise and Term. Subject to issuance of the Arch Street Consent pursuant to Section 2(b) below and the Consent as set forth in Section 3 below, Sublandlord hereby leases to Subtenant, and Subtenant hereby hires leases from Sublandlord, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 25,445 rentable square feet and being of space on the entire fortytwenty-fourth sixth (44th26th) floor floor, as substantially more particularly shown on the floor plan Exhibit A attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as and numbered as 00 Xxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx (the “Building”). The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 term of this Sublease, Sublease (the term (Sublease Term”) of this Sublease shall commence upon the date that is the latest to occur of (a) September 1, 2018the date on which Sublandlord has received the Consent of the Prime Landlord (as defined in Section 3 below) to this Sublease, (b) the date of Sublandlord’s delivery of on which Sublandlord delivers the Subleased Premises to Subtenant in the condition required by pursuant to Section 13(a) of this Sublease13 below, or (c) the date that Subtenant receives issuance of the Main Landlord’s Consent Arch Street Consent, and (as defined in Section 36 of this Subleased) April 1, 2021 (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date December 31, 2025 (the “Expiration Date”). Notwithstanding the foregoing, unless sooner terminated as herein provided. If either party hereto shall so requestprovided that Prime Landlord has issued the Consent on or before such date and Subtenant has paid the Security Deposit and first month’s Sublease Rent due hereunder and provided to Sublandlord and Prime Landlord a certificate of insurance demonstrating that Subtenant has procured and is maintaining the insurance coverages required hereunder, Subtenant may, without obligation to pay Sublease Rent, enter the parties hereto shall execute Subleased Premises from and deliver to each other an instrument confirming after March 19, 2021 solely for the Rent Commencement Date (as defined purpose of installing its furniture, fixtures, tel/data, and equipment therein, provided that in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. event Subtenant expressly waives commences its business operations in any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession portion of the Subleased Premises by September 1prior to the Commencement Date as set forth above, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Commencement Date shall be the date on which Subtenant commences its business operations in the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Main.

Appears in 1 contract

Samples: Sublease (Karuna Therapeutics, Inc.)

Demise and Term. Sublandlord hereby leases to Subtenant, and Subtenant hereby hires leases from Sublandlord, upon and subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting comprising approximately 32,623 53,464 rentable square feet and being the entire forty-fourth (44th) floor square, as substantially shown (by diagonal lines or shading) on the floor plan plans attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx building (the “Building”) known as 20 Xxxxxxxxxx Xxxx, Xxx XxxxXxxxxxxxxxxx, Xxxxxxxx, being part all of the premises that were leased to Sublandlord by FC Eighth Ave.ARE-20/22/1300 Firstfield Quince Orchard, LLC, a New York Delaware limited liability company (“Main Landlord”) under the Main LeaseLease (as hereinafter defined), together with the Common Areas (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under in the Main Lease), for the Term (as defined hereinafter)modified from time to time by Main Landlord. “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Sublease Term”) of this Sublease shall commence upon the latest of (a) September on January 1, 2018, 2012 (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date March 31, 2013 (the “Expiration Date”), unless sooner terminated as herein provided. If either party hereto shall so request, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease)Date, but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Notwithstanding that the Commencement Date may not have yet occurred, from and after the date hereof until the Commencement Date, upon reasonable prior notice to Sublandlord, Sublandlord shall permit Subtenant expressly waives or any right person or entity lawfully acting by or through Subtenant to rescind access the Subleased Premises solely for (a) Subtenant’s architect, engineer and other consultants to measure and inspect the Subleased Premises and (b) Subtenant to inspect and review those certain assets, as more fully described in Exhibit “B” attached hereto (“Purchased Assets”) that Subtenant is purchasing from Sublandlord pursuant to the Equipment Sale Agreement, dated as of the date hereof, between Sublandlord and Subtenant (“Sale Agreement”). Such access and use shall be subject to all the provisions of this Sublease under Section 223-a of as if the New York Real Property Law Commencement Date had otherwise commenced or under occurred; provided, however, Subtenant shall not be obligated to pay Rent with respect to any present period prior to the actual Commencement Date. If Subtenant or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives the right to recover any damages, direct such person or indirect, which may result from Landlord’s failure to deliver possession entity should enjoy such early access of the Subleased Premises by September 1Premises, 2018the Sublease shall be deemed to have so commenced solely for the purpose of causing Subtenant’s covenants, for whatever reasonobligations, includingindemnities, without limitationand other agreements under this Sublease during the Sublease Term to be effective and binding upon Subtenant during such early access (such as, holdover but not limited to, Subtenant being obligated to obtain all insurance required of one it under this Sublease). Said early access and use shall not advance the Commencement Date or both tenants currently occupying advance or extend the Subleased PremisesExpiration Date. If for any reason Sublandlord is unable to does not deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from within 15 days of the Commencement Date due solely to the actions of Sublandlord’s inability to deliver such possession. “Main Landlord” , then the first period of rent abatement described in Section 2 below shall be limited extended by one day for every day that the Subleased Premises have not been delivered after the Commencement Date, and Subtenant shall have no obligation to mean and include only pay any Additional Rent until the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainSubleased Premises have been delivered by Sublandlord.

Appears in 1 contract

Samples: Sublease (Novavax Inc)

Demise and Term. Sublandlord (A) Sublessor hereby leases to Subtenant, Sublessee and Subtenant Sublessee hereby takes and hires from SublandlordSublessor the Subleased Premises containing a total of 16,385 rentable square feet, for the term and upon the terms and conditions set forth herein, subject to the terms and conditions provisions of Article 20 of the Main Lease (as defined hereinafter) (Lease, including the written consent of the Landlord to this Sublease and to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part use of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised pursuant to Sublandlord under the Main terms thereof hereof ("Consent to Sublease"), and subject to Sublessor's compliance with Article 20(B) of the Lease, for the Term . (as defined hereinafter). “Building” shall mean the building known as B) The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term ("Term") of this Sublease shall commence on October 15, 1999 or sooner upon the latest of (a) September 1, 2018, (b) the date of Sublandlord’s delivery mutual agreement of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or parties (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease "Commencement Date"), except as otherwise provided herein, and the Term hereof shall expire at 11:59 p.m. end on the last day of the forty-eighth December 30, 2004 (48th) full calendar month following the Rent Commencement Date (the “"Expiration Date"), unless sooner terminated as herein provided. If either party hereto shall so request, pursuant to the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 provisions of this Sublease)Sublease or the Lease. Sublessor warrants and represents that the term of the Lease extends beyond the Expiration Date. Notwithstanding the foregoing, but the failure of either party to execute and deliver such an instrument Sublessee shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, further expressly waives have the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1until (i) Landlord has signed the Consent to Sublease, 2018, for whatever reason, including, without limitation, holdover (ii) Sublessor has received the Security in the full amount required under Section 24 of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable and (iii) Sublessor has received the first installment of monthly Fixed Rent payable pursuant to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to Article 3(A) of this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of Mainsublease.

Appears in 1 contract

Samples: Sublease Agreement (Queryobject Systems Corp)

Demise and Term. Sublandlord hereby A. For and during the term established below, Sublessor leases to SubtenantSubtenant the Demised Premises, and Subtenant hereby hires from Sublandlord, subject to the terms and conditions consisting of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 362,155 rentable square feet and being ("RSF of the entire forty-fourth Demised Premises") of space at the Building. The leasing of the Demised Premises by Subtenant shall include the right of Subtenant (44tha) floor as substantially shown on to access the floor plan attached hereto as Exhibit “A” (Building common areas in common with the “Subleased Premises”), other tenants in the Building having an address and (b) to use all fixtures, improvements and 2 betterments owned or leased by Overlandlord which, at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of any time during the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 term of this Sublease, are attached to or installed in the Demised Premises, all subject to such restrictions, rules, regulations, security arrangements and charges (if any) as are provided for in the Ovexxxxxx. B. The term (subject to extension as provided herein, the "Term") of this Sublease shall commence upon on May 19, 2001 (the latest of (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent "Commencement Date ") and expire on November 17, 2021 (the "Expiration Date"), unless sooner canceled or otherwise terminated as herein provided. If either party hereto shall so request, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence of the Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere provided in this Sublease, further expressly waives the . C. Sublessor shall have a one time right to recover any damagescancel this Sublease effective as of May 31, direct or indirect2011 by giving written notice (the "Sublessor Cancellation Notice") to Subtenant by no later than May 1, 2008, time being of the essence as to the giving of such notice, which may result from Landlord’s failure notice shall state that Sublessor unconditionally elects to cancel this Sublease effective as of May 31, 2011. In the event Sublessor fails to timely deliver possession of a Sublessor Cancellation Notice in compliance herewith, and unless Subtenant has delivered the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such dateSubtenant Cancellation Notice (as hereinafter defined), this Sublease shall not be void or voidablecontinue until the Expiration Date, nor unless otherwise terminated as provided in this Sublease. In the event Sublessor timely delivers a Sublessor Cancellation Notice in compliance herewith, the Expiration Date as defined herein shall Sublandlord be liable for all purposes mean May 31, 2011. D. Subtenant shall have a one time right to cancel this Sublease effective as of May 31, 2011 by giving written notice (the "Subtenant Cancellation Notice") to Sublessor by no later than April 1, 2008, time being of the essence as to the giving of such notice, which notice shall state that Subtenant unconditionally elects to cancel this Sublease effective as of May 31, 2011. In the event Subtenant fails to timely deliver a Subtenant Cancellation Notice in compliance herewith, and unless Sublessor has delivered the Sublessor Cancellation Notice, this Sublease shall continue until the Expiration Date, unless otherwise terminated as provided in this Sublease. In the event Subtenant timely delivers a Subtenant Cancellation Notice in compliance herewith, the Expiration Date as defined herein shall for any damage resulting from Sublandlord’s inability all purposes mean May 31, 2011. E. In the event that Sublessor cancels this Sublease pursuant to deliver such possession. “Main Landlord” Article 2.C hereof, Sublessor shall be limited pay to mean and include only Subtenant, by no later than June 30, 2011, an amount (the tenant under "Sales Price") equal to twenty-five percent (25%) of the Unit Ground Lease unamortized value (as defined in Exhibit “G” to this Sublease)of May 31, to whom 2011) of the Main Lease may be assigned, or a mortgagee in possession, so that leasehold improvements (the "Remaining Leasehold Improvements") which remain in the event of any sale, assignment or transfer Demised Premises following Subtenant's vacation of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainDemised Premises

Appears in 1 contract

Samples: Sublease (Instinet Group Inc)

Demise and Term. Sublandlord a. Sublessor hereby leases subleases to Subtenant, and Subtenant hereby hires from SublandlordSublessor, subject to the terms and conditions of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 12,118 rentable square feet and being of commercial office space constituting the entire fortythirty-fourth (44th34th) floor in the building located at 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx (the “Building”), as substantially shown on the cross-hatch of the floor plan attached hereto as on Exhibit “A” annexed hereto and made a part hereof (the “Subleased Premises”). The Subleased Premises is comprised of (i) the entire premises leased to Sublessor under a lease dated June 15, in 2005 as amended by the Building having an address at 000 Amendment of Lease dated September 7, 2005 and as further amended by the Second Amendment of Lease dated as of March 12, 2007 between 00 Xxxxx Xxxxxx XxxxxxLLC, Xxx Xxxxas landlord (the “Landlord”) and Sublessor, Xxx Xxxx, being part of as tenant (the “Prime Lease”) and (ii) the premises that were leased subleased to Sublandlord the Sublessor by FC Eighth Ave.Avalon Partners, LLC, a New York limited liability company Inc. (“Main LandlordAvalon”) under the Main Leaseterms of a Sublease between Avalon and Sublessor dated February 12, 2007 (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter“Avalon Sublease”). A redacted copy of the Prime Lease is annexed to this Sublease as Exhibit BuildingB-1shall mean and made a part hereof. A redacted copy of the building known Avalon Sublease is annexed to this Sublease as Exhibit “B-2” and made a part hereof. (The New York Times BuildingPrime Lease and the Avalon Sublease are sometimes hereafter referred to, in collectively, as the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the “Overleases”). b. The term (the “Term”) of this Sublease shall commence upon the latest of (a) September 1, 2018, (b) one day following the date of Sublandlord’s delivery that the last of the Subleased Premises Landlord and Avalon give their respective Consent (hereinafter defined) to Subtenant this Sublease in the condition manner required by Section 13(a) of this Sublease, or the Prime Lease and the Avalon Sublease (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), ) and the Term hereof shall expire at 11:59 p.m. P.M. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date June 29, 2015 (the “Expiration Date”), ) unless sooner canceled or otherwise terminated as herein providedprovided in this Sublease. If either party hereto shall so requestNotwithstanding the foregoing, the parties hereto shall execute and deliver to each other an instrument confirming the Rent Commencement Date (except as defined otherwise provided in Section 2 subparagraph c. of this Sublease), but the failure of either party to execute and deliver such an instrument Paragraph “1”: a) Sublessor shall not affect be subject to any liability for its failure to deliver the occurrence Subleased Premises to Subtenant by any particular date; and b) the validity of this Sublease shall not be impaired thereby nor the Rent Commencement DateExpiration Date extended thereby. Except as provided in paragraph c of this paragraph 1, Subtenant expressly waives any right to rescind this Sublease under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and, except as expressly set forth elsewhere in this Sublease, and further expressly waives the right to recover any damages, direct or indirect, which damages that may result from LandlordSublessor’s failure to deliver possession of the Subleased Premises by September on any particular date. Except as expressly provided to the contrary, Subtenant agrees that the provisions of this subparagraph (b) are intended to constitute “an express provision to the contrary” within the meaning of said Section 223-a. c. On or before December 1, 20182010, for whatever reason, including, without limitation, holdover Sublessor will provide Subtenant with written notice of one or both tenants currently occupying the date upon which Sublessor will grant possession of the Subleased PremisesPremises to Subtenant (the “Possession Date”). In the event that Sublessor fails to provide the aforesaid notice on or before December 1, 2010, the Possession Date shall be deemed to be May 1, 2011 and Subtenant shall have all rights and remedies set forth in this subparagraph 1 c. If the Possession Date is later than April 30, 2011, Subtenant may, upon ten (10) days’ written notice given within ten (10) days of Subtenant’s receipt of Sublessor’s notice of the Possession Date, cancel this Sublease. Upon such cancellation, all amounts paid by Subtenant to Sublessor will immediately be refunded to Subtenant and the parties shall have no further obligations to one another. In the event that Subtenant elects not to cancel this Sublease, or if the Possession Date is prior to April 302011 Sublessor will credit Subtenant in an amount equal to one thirtieth of the first month’s rent for any reason Sublandlord each day that possession of the Subleased Premises is unable to delayed beyond the Possession Date for a period of fifteen days. For each day after the initial fifteen day period that Sublessor does not deliver possession of the Subleased Premises upon to Subtenant, Sublessor shall credit Subtenant in an amount equal to one fifteenth of the first month’s rent for each day that possession of the Subleased Premises is delayed beyond the Possession Date. The amount of such datecredit shall be paid to Subtenant (or credited against Rent due) within ten days of the date that possession of the Subleased Premises is granted to Subtenant, or within ten (10) days of the date Subtenant cancels this lease as herein provided. In addition to the foregoing, Subtenant shall have the right to terminate this Sublease shall on five days written notice to Sublessor if Subtenant is not be void or voidable, nor shall Sublandlord be liable given possession of the Subleased Premises within thirty days of the Possession Date.” d. Sublessor represents and warrants to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. that: (i)the copy of each of the Prime Lease and the Avalon Sublease attached hereto as Exhibits Main LandlordB-1shall be limited to mean and include only “B-2”, respectively, is a true and accurate copy of the tenant under Prime Lease and Avalon Sublease, as the Unit Ground Lease case may be, and has not been amended or modified except as expressly set forth in Exhibits B-1 and B-2 attached hereto; (ii) Sublessor is not now, and as defined of the Commencement Date will not be, in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, default or a mortgagee in possession, so that in the event breach of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under provisions of the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Prime Lease or mortgagee the Avalon Sublease; (iii) Sublessor has no knowledge of any claim by Landlord or Avalon that Sublessor is in possession default or breach of any of the provisions of the Prime Lease or the Avalon Sublease; (iv) Sublessor has no knowledge of any default or breach by Landlord or Avalon of any of the provisions of the Prime Lease or the Avalon Sublease; and (v) no other agreements exist by and between Landlord or Avalon, Sublessor or any third party affecting the Subleased Premises except for those set forth in Exhibits “B-1” and “B-2” attached hereto. Following the execution and delivery hereof, upon becoming aware of any breaches of the Prime Lease and/or Avalon Sublease by any of the parties thereto, Sublessor shall thereupon be released and discharged from all covenants, conditions and agreements notify Subtenant of Mainsame.

Appears in 1 contract

Samples: Sublease (Shutterstock, Inc.)

Demise and Term. Sublandlord For and in consideration of the covenants and conditions on the part of each party herein reserved and contained, Landlord does hereby leases demise and lease to SubtenantTenant, and Subtenant Tenant does hereby hires take and hire from SublandlordLandlord, upon and subject to the terms terms, covenants and conditions herein set forth, the Demised Premises (but without hereby waiving or surrendering the rights of Landlord as a municipality to enforce its laws, regulations and ordinances in the same manner as the same are enforced with respect to other property within the City of Hartford, which are hereinafter referred to as its "Municipal Powers") TO HAVE AND HOLD (as a leasehold interest and not as a grant of a fee ownership) for a term commencing on the date hereof and ending at midnight on the day preceding the fortieth (40th) anniversary of the Main Lease (as defined hereinafter) (to the extent disclosed to Subtenant) the Superior Instruments (as defined hereinafter) and this Sublease, those certain premises constituting approximately 32,623 rentable square feet and being the entire forty-fourth (44th) floor as substantially shown on the floor plan attached hereto as Exhibit “A” (the “Subleased Premises”), in the Building having an address at 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, being part of the premises that were leased to Sublandlord by FC Eighth Ave., LLC, a New York limited liability company (“Main Landlord”) under the Main Lease, (as defined hereinafter) together with the appurtenances to the Subleased Premises which are demised to Sublandlord under the Main Lease, for the Term (as defined hereinafter). “Building” shall mean the building known as The New York Times Building, in the Borough of Manhattan, City, County and State of New York. Subject to Section 36 of this Sublease, the term (“Term”) of this Sublease shall commence upon the latest of (a) September 1, 2018, (b) the date of Sublandlord’s delivery of the Subleased Premises to Subtenant in the condition required by Section 13(a) of this Sublease, or (c) the date that Subtenant receives the Main Landlord’s Consent (as defined in Section 36 of this Sublease) (such date, the “Sublease Commencement Date”), and the Term hereof shall expire at 11:59 p.m. on the last day of the forty-eighth (48th) full calendar month following the Rent Commencement Date (the “Expiration Date”"Original Term"), unless sooner terminated . Tenant shall have two (2) successive options to extend the term of this Lease for a period of ten years (each of such periods being hereinafter called and "Extension Period") commencing upon the day after the expiration date of the then existing Term; so long as herein providedand only if Tenant is not in default of any of its obligations under this Lease upon such expiration date. If Tenant elects to exercise either party hereto of said options, it shall do so requestby giving notice of such election to Landlord during the Original Term, or first Extension Period, as applicable, no later than the parties hereto shall execute and deliver date which is three hundred sixty-five (365) days prior to each other an instrument confirming the Rent Commencement Date (as defined in Section 2 of this Sublease), but the failure of either party to execute and deliver such an instrument shall not affect the occurrence commencement of the Extension Period for which such election is exercised. If Tenant exercises said extension option the term hereof shall be automatically extended for the Extension Period covered thereby without the necessity for execution of any further lease, instrument or agreement. Such Extension Period shall be upon the same terms and conditions including Rent Commencement Date. Subtenant expressly waives any right to rescind this Sublease under Section 223-a and PILOT as are in effect hereunder immediately preceding the commencement of the New York Real Property Law or under any present or future statute of similar import then in force and, such Extension Period except as expressly set forth elsewhere otherwise provided in this Sublease, further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Subleased Premises by September 1, 2018, for whatever reason, including, without limitation, holdover of one or both tenants currently occupying the Subleased Premises. If for any reason Sublandlord is unable to deliver possession of the Subleased Premises upon such date, this Sublease shall not be void or voidable, nor shall Sublandlord be liable to Subtenant for any damage resulting from Sublandlord’s inability to deliver such possession. “Main Landlord” shall be limited to mean and include only the tenant under the Unit Ground Lease (as defined in Exhibit “G” to this Sublease), to whom the Main Lease may be assigned, or a mortgagee in possession, so that in the event of any sale, assignment or transfer of the Unit, or Main Landlord’s interest as a lessee under the Unit Ground Lease, in each case, such owner, tenant under the Unit Ground Lease or mortgagee in possession shall thereupon be released and discharged from all covenants, conditions and agreements of MainAgreement.

Appears in 1 contract

Samples: Lease Agreement (SFX Entertainment Inc)

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