Common use of LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT Clause in Contracts

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assigned, or while a Default by Tenant then exists, any part of the Premises is sublet, Landlord may at its option collect directly from such assignee or subtenant all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant to make such payment of rent directly to Landlord upon receipt of notice from Landlord, and Xxxxxx agrees that any such payments made by an assignee or subtenant to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenant. No direct collection by Landlord from any such assignee or subtenant shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In the event the amounts to be paid by the assignee or sublessee in connection with an assignment or subletting exceed the amounts payable by Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted Transfer. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, without limitation, in connection with default by or bankruptcy of Tenant, Landlord may, at its option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 2 contracts

Samples: Office Lease (Alkami Technology, Inc.), Office Lease (Alkami Technology, Inc.)

AutoNDA by SimpleDocs

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assignedTo the extent the rentals or income derived from any sublease or assignment exceed the rentals due hereunder, one-half ('/2) of such excess rentals, after deducting Tenant's costs of entering into the sublease or while a Default by Tenant then existsassignment, any part (the "Excess Sublease Rentals") shall be the property of and paid over to Landlord in consideration for Landlord's consent to the Premises is sublet, applicable assignment or sublease. Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly direct to Landlord upon receipt of notice from Landlord, Landlord and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent)Lease. IN THE EVENT THAT, after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted Transfer. In the event that, following an assignment FOLLOWING AN ASSIGNMENT or subletting, this Lease or Tenant's right to possession of the rights and obligations of Tenant hereunder are terminated for any reasonPremises is TERMINATED BY LANDLORD FOR ANY REASON, including, without limitation, INCLUDING WITHOUT limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 11.2, shall include all persons or entities claiming by or through Tenant), Landlord may, at its optionSOLE OPTION, consider this Lease to be thereafter CONSIDER THIS LEASE TO BE THEREAFTER a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease, in which event all rentals payable under such lease to which Landlord would otherwise be entitled after the termination of this Lease or Tenant's right to possession of the Premises shall be deemed the property of Landlord.

Appears in 1 contract

Samples: Office Lease Agreement (Ixc Communications Inc)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. Without limiting Landlord's consent rights and as a condition to obtaining Landlord's consent, (i) each assignee must assume all obligations under this Lease, and (ii) each sublessee must confirm that its sublease is subject and subordinate to this Lease. In addition, each assignee and sublessee shall agree to cause the Premises to comply at all times with all requirements of the Disability Acts (as amended), including, but not limited to, obligations arising out of or associated with such assignee's or subtenant's use of or activities or business operations conducted within the Premises. No assignee or sublessee of the Premises or any portion thereof may assign or sublet the Premises or any portion thereof. To the extent the rentals or income derived from any sublease or assignment exceed the sum of the rentals payable under this Lease in respect of the portion of the Premises covered by such sublease or assignment (such excess, the "EXCESS SUBLEASE RENTS"), Landlord shall be entitled to fifty percent (50%) of such Excess Sublease Rents and Tenant shall pay Landlord its share of Excess Sublease Rents promptly after receipt thereof. If this Lease is assigned, or while a Default by Tenant then exists, any part of hereof is assigned or the Premises is or any part thereof are sublet, Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and sublease, in which event Landlord shall first apply such rent against any sums due to Landlord by Tenant hereunderhereunder and Tenant shall be entitled to the remainder, if any, but only to the extent of Tenant's share of Excess Sublease Rents. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly direct to Landlord upon receipt of notice from Landlord, Landlord and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default an Event of Default by or bankruptcy of Tenant (which, for the purposes of this Section 11.3, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (American Physician Partners Inc)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assignedExcept in connection with an assignment or sublease pursuant to a Permitted Transfer as described in Rider 6 attached hereto, to the extent the rentals or while a Default income derived from any sublease or assignment exceed the rentals due hereunder (after deduction of all reasonable out-of-pocket third party expenses paid by Tenant then existsin connection with such sublease or assignment), any part fifty percent (50%) of such excess rentals (the Premises is sublet, “Excess Sublease Rentals”) shall be the property of and paid over to Landlord in consideration for Landlord’s consent to the applicable assignment or sublease. Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly direct to Landlord upon receipt of notice from Landlord, Landlord and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or Tenant’s right to possession of the rights and obligations of Tenant hereunder are Premises is terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 11.2, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease, in which event all rentals payable under such lease after the termination of this Lease or Tenant’s right to possession of the Premises shall be deemed the property of Landlord.

Appears in 1 contract

Samples: Office Lease Agreement (Bazaarvoice Inc)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assignedTo the extent the rentals or income derived from any sublease or assignment exceed the rentals due hereunder, all such excess rentals (after first deducting all reasonable costs associated with such sublease or while a Default by Tenant then exists, any part assignment) shall be the property of and paid over to Landlord in consideration for Landlord's consent to the Premises is sublet, applicable assignment or sublease. Landlord may at its option collect directly from such assignee or subtenant all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereundersublease. Tenant hereby here by authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant to make such payment payments of rent directly to Landlord upon receipt of notice from Landlord, and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenant. No direct collection by Landlord from any such assignee or subtenant shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of any rent from any assignee, subtenant or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 11.3, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 1 contract

Samples: Lease Agreement (Interliant Inc)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If Without limiting Landlord’s consent rights and as a condition to obtaining Landlord’s consent, (i) each assignee must assume all obligations under this Lease arising from and after the effective date of its assumption of the Lease, and (ii) each sublessee must confirm that its sublease is assignedsubject and subordinate to this Lease. To the extent the rentals or income derived from any sublease or assignment (excluding any sublease or assignment to an Affiliate) exceed the rentals due hereunder, 50% of such excess rentals and income (after reimbursement of Tenant’s actual and reasonable out-of-pocket costs and expenses incurred in connection with such sublease or while a Default assignment, and after deduction for the unamortized cost of any alterations or improvements made by Tenant then existsto the Premises and the fair market value of any Tenant furniture, fixtures, equipment and other personal property included in any such sublease or assignment transaction) shall be the property of and paid over to Landlord as and when collected in consideration for Renaissance Tower/ Priority Fulfillment Services, Inc. Landlord’s consent to the applicable assignment or sublease. If the Premises or any part of the Premises is thereof are sublet, Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunderhereunder following any Tenant default which is continuing beyond applicable notice and cure periods. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly to Landlord upon receipt of notice from Landlord, Landlord and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant a sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease Lease. Amounts so collected by Landlord from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting any assignee or assignment subtenant of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled credited in full against the Rents due under this Lease, with any excess (subject to fifty percent (50%the foregoing profit split) being paid to Tenant promptly upon Landlord’s receipt of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted Transferamounts. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 11.3, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease; provided, however, that in no event shall any subtenant be obligated by the operation of such provision to pay any rental in excess of the rental reserved under its sublease with Tenant during the term of the sublease.

Appears in 1 contract

Samples: Office Lease Agreement (Pfsweb Inc)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assignedTo the extent the rentals or income derived from any sublease or assignment exceed the rentals due hereunder, then, after Tenant has collected such rentals or while a Default other income such that Tenant has fully recovered any expenses incurred by Tenant then exists, any part of when assigning or subleasing the Premises is sublet(including, without limitation, brokerage fees, attorneys' fees and any tenant improvement or other improvement expenses), such excess rentals (the "Excess Sublease Rentals") shall be the property of and paid over to Landlord in consideration for Landlord's consent to the applicable assignment or sublease. Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereundersublease. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly direct to Landlord upon receipt of notice from Landlord, Landlord and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or Tenant's right to possession of the rights and obligations of Tenant hereunder are Premises is terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 11.3, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease, in which event all rentals payable under such lease after the termination of this Lease or Tenant's right to possession of the Premises shall be deemed the property of Landlord.

Appears in 1 contract

Samples: Lease Agreement (Vadda Energy Corp)

AutoNDA by SimpleDocs

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assigned, or while a Default by Tenant then exists, any part of hereof is assigned or the Premises is or any part thereof are sublet, Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder, with Landlord retaining any excess rent for Landlord's sole benefit. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly to Landlord upon receipt of notice from Landlord, and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 12.2, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 1 contract

Samples: Commercial Lease Agreement (Natural Health Trends Corp)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assigned, or while a Default by Tenant then exists, any part of hereof is assigned or the Premises is or any part thereof are sublet, Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder, with Landlord retaining any excess rent {in excess of Rent Due under this Lease plus out of pocket costs actually incurred by Tenant in making the transfer for Landlord's sole benefit. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly to Landlord upon receipt of notice from Landlord, and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 12.2, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 1 contract

Samples: Commercial Lease Agreement (Tm Century Inc)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease is assigned, or while a Default by Tenant then exists, any part of hereof is assigned or the Premises is or any part thereof are sublet, Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder, Tenant shall receive twenty-five percent (25%) and Landlord shall receive seventy-five percent (75%) of all profits associated with Subleasing, less Tenant's fair market leasing commissions. In no event shall Tenant hereby authorizes be required to pay any excess rent to Landlord unless and directs any such until actually received by Tenant Name: Alkami Technology Building Name: Granite Park Three assignee from Assignee or subtenant to make such payment Sublessee. Receipt by Landlord of rent directly to Landlord upon receipt of notice from Landlordany assignee, and Xxxxxx agrees that any such payments made by an assignee sublessee or subtenant to Landlord shall, to the extent occupant of the payments so made, Premises or any part thereof shall not be deemed a full waiver of the above covenant in this Lease against assignment and complete release and discharge of rent owed to Tenant by such assignee or subtenant. No direct collection by Landlord from any such assignee or subtenant shall be construed to constitute a novation subletting or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In the event the amounts to be paid by the assignee or sublessee in connection with an assignment or subletting exceed the amounts payable by Tenant -------------------------------------------------------------------------------- COMMERCIAL LEASE AGREEMENT under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default by or bankruptcy of Tenant (which, for the purposes of this Section 12.2, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 1 contract

Samples: Commercial Lease Agreement (Medstone International Inc/)

LANDLORD'S RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. Without limiting Landlord’s consent rights and as a condition to obtaining Landlord’s consent, (a) each assignee must assume all applicable obligations under this Lease, and (b) each sublessee must confirm that its sublease is subject and subordinate to this Lease. In addition, each assignee and sublessee shall agree to cause the Premises to comply at all times with all requirements of the Disability Acts (as amended), including, but not limited to, obligations arising out of or associated with such assignee’s or subtenant’s use of or activities or business operations conducted within the Premises. No assignee or sublessee of the Premises or any portion thereof may assign or sublet the Premises or any portion thereof, except in accordance with the provisions of this Lease or as otherwise permitted by Landlord. To the extent the rentals or income derived from any sublease or assignment exceed the sum of the rentals payable under this Lease in respect of the portion of the Premises covered by such sublease or assignment after all reasonable remarketing costs are first recouped by Tenant (such excess, the “Excess Sublease Rents”), Landlord shall be entitled to one-half of such Excess Sublease Rents and, accordingly, such one-half shall be paid over to Landlord in consideration for Landlord’s consent to the applicable assignment or sublease. If this Lease is assigned, or while a Default by Tenant then exists, any part of hereof is assigned or the Premises is or any part thereof are sublet, Landlord may at its option collect directly from such assignee or subtenant sublessee all rents becoming due to Tenant under such assignment or sublease and sublease, in which event Landlord shall first apply such rent against any sums due to Landlord by Tenant hereunder. Tenant hereby authorizes and directs any such Tenant Name: Alkami Technology Building Name: Granite Park Three assignee or subtenant sublessee to make such payment payments of rent directly direct to Landlord upon receipt of notice from Landlord, Landlord and Xxxxxx Tenant agrees that any such payments made by an assignee or subtenant sublessee to Landlord shall, to the extent of the payments so made, be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenantsublessee. No direct collection by Landlord from any such assignee or subtenant sublessee shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant from the further performance of its obligations hereunder. In Receipt by Landlord of rent from any assignee, sublessee or occupant of the event Premises or any part thereof shall not be deemed a waiver of the amounts to be paid by the assignee above covenant in this Lease against assignment and subletting or sublessee in connection with an assignment or subletting exceed the amounts payable by a release of Tenant under this Lease from time to time (including Basic Rent and Additional Rent), after Tenant has first deducted the following costs and expenses for the subletting or assignment of such space: (1) brokerage commissions and attorneys’ fees and expenses, (2) advertising for subtenants or assignees; (3) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (4) Rent paid by Tenant under this Lease for such portion of the Premises from and after the date on which Xxxxxx delivers to Landlord written notice of Xxxxxx’s intent to market the portion of the Premises in question until the rent commencement date of the assignment or sublease in question, Tenant shall be entitled to fifty percent (50%) of such excess and Landlord shall be entitled to receive the remaining fifty percent (50%) of such excess. The foregoing provisions of this Section 11.3 do not apply to a Permitted TransferLease. In the event that, following an assignment or subletting, this Lease or the rights and obligations of Tenant hereunder are terminated for any reason, including, including without limitation, limitation in connection with default an Event of Default by or bankruptcy of Tenant (which, for the purposes of this Section 11.3, shall include all persons or entities claiming by or through Tenant), Landlord may, at its sole option, consider this Lease to be thereafter a direct lease to the assignee or subtenant of Tenant upon the terms and conditions contained in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Prescient Applied Intelligence, Inc.)

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