Furniture Subtenant shall be permitted to use without charge the existing furniture (cased goods, workstations, break room furniture, and fixtures) that is currently located on the 11th Floor and the 17th Floor, and the conference tables currently located within Training Room B (“Subleased Premises Furniture”), a listing of which is attached hereto and incorporated herein as Exhibit F, for the Term of this Sublease. Sublandlord shall remove from the Subleased Premises and from Training Room B prior to the Commencement Date all debris and personal property (including the video equipment, monitors, projectors, etc.), and such video equipment, monitors, projectors, etc. shall not constitute Subleased Premises Furniture, and Subtenant shall have no rights to use such video equipment, monitors, projectors, etc. Sublandlord represents and warrants that it is the fee simple owner of the Subleased Premises Furniture and that it has full rights and authority to sell such Subleased Premises Furniture. On the Commencement Date of this Sublease, Subtenant shall be permitted to acquire the Subleased Premises Furniture from Sublandlord for a purchase price of One Dollar ($1.00); provided, however, that Subtenant grants to Sublandlord a security interest in the Subleased Premises Furniture to secure Subtenant’s payment of Rent and performance of its obligations under this Sublease, and in the event Subtenant shall default under this Sublease beyond any applicable notice and cure period, and this Sublease or Subtenant’s right to possession of the Subleased Premises shall be terminated prior to expiration of the stated Term of this Sublease, then at the time of such default and termination of this Sublease or termination of Subtenant’s right of possession under this Sublease, Sublandlord shall be permitted to reacquire the Subleased Premises Furniture from Subtenant in its then as-is condition for a repurchase price of One Dollar ($1.00). Subtenant agrees to keep the Subleased Premises Furniture in good condition during the term of the Sublease, subject to normal wear and tear and damage by casualty. Subtenant agrees that during the term of the Sublease, Subtenant will not dispose of, convey, pledge, assign, or grant a security interest in any of the Subleased Premises Furniture, unless Subtenant shall replace such furniture with substitute furniture of equivalent quality.
Furniture, Fixtures and Equipment Licensee acknowledges receipt in good condition of the Premises, without warranty, expressed or implied, on its condition or fitness. Licensee shall not alter the Premises’ fixtures, furnishings or equipment without consent of the Institute. Upon expiration or revocation of this License Contract, Licensee shall return the Premises, with Institute’s furniture, fixtures and equipment to Institute in the same condition as when received, less reasonable wear and tear. Licensee waives California Civil Code Section 1957, if applicable.
