Common use of Landlord’s Election of Tenant’s Attornment Clause in Contracts

Landlord’s Election of Tenant’s Attornment. In the event Landlord elects, at its option, to cause Subtenant to attorn to Landlord pursuant to Section 4, item (iii) above, Landlord shall undertake the obligations of Tenant under the Sublease from the time of the exercise of the option, but Landlord shall not (i) be liable for any prepayment of more than one month’s rent or any security deposit paid by Subtenant (unless actually received by Landlord), (ii) be liable for any previous act or omission of Tenant under the Lease or for any other defaults of Tenant under the Sublease other than defaults that continue after the attornment (provided that Landlord shall be responsible only for the portion of the default continuing after the attornment), (iii) be subject to any defenses or offsets previously accrued which Subtenant may have against Tenant, or (iv) be bound by any changes or modifications made to the Sublease without the written consent of Landlord.

Appears in 1 contract

Samples: Consent to Sublease Agreement (Bolt Biotherapeutics, Inc.)

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Landlord’s Election of Tenant’s Attornment. In the event Landlord elects, at its option, to cause Subtenant to attorn to Landlord pursuant to Section 43(iii), item (iii) above, Landlord shall undertake the obligations of Tenant under the Sublease from the time of the exercise of the option, but Landlord shall not (i) be liable for any prepayment of more than one (1) month’s rent or any security deposit paid by Subtenant (unless actually received by Landlord)to Tenant, (ii) be liable for any previous act or omission of Tenant under the Lease Sublease or for any other defaults of Tenant under the Sublease other than defaults that continue after the attornment (provided that Landlord shall be responsible only for the portion of the default continuing after the attornment)Sublease, (iii) be subject to any defenses or offsets previously accrued which Subtenant may have against Tenant, or (iv) be bound by any changes or modifications made to the Sublease without the written consent of Landlord. In no event shall any such attornment increase the obligations or liability of Subtenant beyond that which is contained in the Sublease and Subtenant will not be responsible for any defaults by Tenant under the Lease.

Appears in 1 contract

Samples: Sublease Agreement (Anadys Pharmaceuticals Inc)

Landlord’s Election of Tenant’s Attornment. In the event Landlord elects, at its option, to cause Subtenant to attorn to Landlord pursuant to Section 4, item (iii) ), above, Landlord shall undertake the obligations of Tenant under the Sublease from the time of the exercise of the option, but Landlord shall not (i) be liable for any prepayment of more than one month’s rent or any security deposit paid by Subtenant (unless actually received by Landlord), (ii) be liable for any previous act or omission of Tenant under the Lease or for any other defaults of Tenant under the Sublease other than defaults that continue after the attornment (provided that Landlord shall be responsible only for the portion of the default continuing after the attornment), (iii) be subject to any defenses or offsets previously accrued which Subtenant may have against Tenant, or (iv) be bound by any changes or modifications made to the Sublease without the written consent of Landlord.

Appears in 1 contract

Samples: Lease (Audentes Therapeutics, Inc.)

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Landlord’s Election of Tenant’s Attornment. In the event Landlord elects, at its option, to cause Subtenant to attorn to Landlord pursuant to Section 4, item (iii) 4 above, Landlord shall undertake the obligations of Tenant under the Sublease from the time of the exercise termination by Landlord of the optionLease, but Landlord shall not (i) be liable for any prepayment of more than one month’s 's rent or any security deposit paid by Subtenant (unless such prepayment or security deposit has been actually received by Landlord), (ii) be liable for any previous act or omission of Tenant under the Lease or for any other defaults of Tenant under the Sublease other than defaults Sublease, except for any default of a continuing nature that continue continues after the attornment (provided that date Landlord shall be responsible only for undertakes the portion obligations of Tenant under the default continuing after the attornment)Sublease, (iii) be subject to any defenses or offsets previously accrued which Subtenant may have against Tenant, or (iv) be bound by any changes or modifications made to the Sublease without the written consent of Landlord, which consent shall not be unreasonably withheld, conditioned, or delayed.

Appears in 1 contract

Samples: Consent to Sublease Agreement (Prothena Corp PLC)

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