Modification of Sublease Clause Samples
The Modification of Sublease clause establishes the conditions under which changes to the sublease agreement can be made. Typically, this clause requires that any amendments, additions, or deletions to the sublease must be documented in writing and signed by both the sublessor and sublessee. For example, if the parties wish to alter the rent amount or extend the sublease term, they must formally agree to these changes through a written modification. This clause ensures that all parties are aware of and consent to any alterations, thereby preventing misunderstandings and disputes over the terms of the sublease.
Modification of Sublease. Any agreement which shall amend or modify the Sublease, or operate to surrender, merge, terminate or cancel the Sublease absent a default thereunder, without the prior written consent of the Ground Landlord, shall be void and of no force or effect as to the Ground Landlord, excepting amendments or modifications to the Sublease that are made consistent with the terms of the Sublease in connection with Tenant’s exercise of the Extension Option (as defined in the Sublease).
Modification of Sublease. The parties will not modify this Sublease or allow this Sublease to be modified in any way nor cancel the Sublease without the written consent of the Mortgagee.
Modification of Sublease. Upon a Recognition Event, the Sublease shall ------------------------ be deemed modified such that all references to "Subtenant" shall be deemed to be "Tenant" (i.e., Interwoven) and all references to "Ariba" or "Sublandlord" shall be deemed to be "Landlord" (i.e., ▇▇▇▇▇▇▇) and in addition (notwithstanding any express or implied provision of the Sublease to the contrary):
Modification of Sublease. The Sublease is hereby modified as follows:
A. Section 26 is deleted in its entirety.
B. Section 1(a) shall be modified by (i) deleting the reference to 21,630 rentable square feet and substituting 11,484 rentable square feet [which includes the building core factor] (the "New Demised Premises" and (ii) deleting Exhibit A and substituting Exhibit A-1 in its place.
C. Section 3 shall be modified by (i) deleting the references to Eighteen Dollars and Fifty Cents ($18.50) and rentable square feet (21,630) and substituting Twenty-two Dollars and Sixty Cents ($22.60) and rentable square feet of 11,484 in their place and (ii) deleting the references to "rent for the Demised Premises, $15.63" and "Virginia Sales Tax,
Modification of Sublease. The Company acknowledges and agrees that SCAI has the right to modify or otherwise amend the Sublease without the consent of the Company; PROVIDED, HOWEVER, that in the event such modification results in an increase in the rent or other amounts payable thereunder or a decrease or diminution of the services or space provided therein, the Company's rights and obligations with respect to the Premises nonetheless shall remain as they were prior to such modification unless the Company consents, in writing, to any such modifications. SCAI will provide the Company with prior notice of, and a copy of, any such amendment.
Modification of Sublease. Supplementing and modifying Sections 2C and 2D of the Sublease, the giving of a Sublessor Cancellation Notice or a Subtenant Cancellation Notice pursuant thereto, although it shall effect the cancellation of the Sublease as to the remainder of the Demised Premises, shall not effect the cancellation of the Sublease as to any part of the Demised Premises that is on May 31, 2011, subjects to a sublease or other occupancy agreement (other than the Sublease) that (a) has a term that expires after such date and (b) has been consented to by Sublessor pursuant to Section 12 of the Sublease. The Sublease shall continue in full force and effect with respect to that part of the Demised Premises that is subject to any such sublease or occupancy agreement (the "Continuing Premises") notwithstanding the giving of a Sublessor Cancellation Notice or a Subtenant Cancellation Notice, except that all references in the Sublease to the Demised Premises shall, for all purposes (including , but not limited to, the calculation of Base Rent and Additional Rental under the Sublease for the Continuing Premises for all periods from and after June 1, 2011), be deemed references to the Continuing Premises only.
Modification of Sublease. Neither Subtenant nor its successors or assigns shall enter into any agreement which shall amend or modify the Sublease or to surrender, merge, terminate or cancel the Sublease absent a default thereunder, without the prior written consent of Ground Landlord. Any agreement made in contravention of this paragraph shall be void and of no force or effect as to Ground Landlord.
Modification of Sublease. In the event any future mortgagee of Sublandlord or Prime Landlord requires that certain modifications be made to this Sublease, Subtenant agrees to execute any and all documents reasonably necessary to effect such modifications; provided, however, that nothing contained in this Section shall be construed as a requirement that Subtenant agree to a modification which in any way (i) increases Subtenant’s financial and other obligations hereunder including, but not limited to, Rent; (ii) affects the size or location of the Subleased Premises; or (iii) prevents Subtenant from deriving any of the material benefits of this Sublease.
Modification of Sublease. ▇▇▇▇▇▇, Assignor and Assignee hereby acknowledge and agree that the Sublease shall be modified as follows:
(a) ▇▇▇▇▇▇ hereby waives its right pursuant to the Sublease to require to vacate the Subleased Premises on nine (9) months written notice; and
(b) the Sublease shall be terminable on the last day of my calendar month following the month in which Assignee gives notice to Assignor of election to terminate the Sublease; provided, however, that in the event Assignee decides to relocate its business outside of the Building, the Sublease, shall be terminable upon three (3) months' prior notice to Assignor.
Modification of Sublease. (a) If the Master Lease terminates, the Sublease to which Master Landlord and Subtenant shall be bound pursuant to the terms hereof, shall be amended as follows: Paragraph 2 of the Sublease shall be amended to provide that the Fixed Rent shall be equal to the amounts set forth below: From the Commencement Date through the thirty-sixth (36th) full calendar month following the Commencement Date $951,242.25 $79,270.19 From the first date of the thirty-seventh (37th) full calendar month following the Commencement Date (the “Rent Adjustment Date”) through the Expiration Date Fair Market Annual Fixed Rent (as defined and determined below), but not to exceed $1,191,918.00 One-twelfth (1/12) of the Fair Market Annual Fixed Rent, but not to exceed $99,326.50
(b) The Fair Market Annual Fixed Rent, as used herein, shall mean the then-current annual rental rate per rentable square foot of the Sublet Premises (as of the period of nine (9) months to six (6) months prior to the Rent Adjustment Date (the “Market Determination Period”)) at which the Master Landlord and/or other owners (“Comparable Landlords”) of comparable office buildings located in the South of Market Area in San Francisco, California are then offering to lease other vacant space comparable to the Premises (“Comparable Transactions”). Master Landlord shall provide its determination of the Fair Market Annual Fixed Rent to Subtenant on or before the date that is six (6) months prior to the Rent Adjustment Date. Subtenant shall have thirty (30) days (“Subtenant’s Review Period”) after receipt of Master Landlord’s notice of the Fair Market Annual Fixed Rent within which to accept such Fair Market Annual Fixed Rent or to reasonably object thereto in writing. In the event Subtenant objects to the Fair Market Annual Fixed Rent submitted by Master Landlord, Master Landlord and Subtenant shall attempt to agree upon such Fair Market Annual Fixed Rent. If Master Landlord and Subtenant fail to reach agreement on such Fair Market Annual Fixed Rent within fifteen (15) days following Subtenant’s Review Period (the “Outside Agreement Date”), then each party shall place in a separate sealed envelope its final proposal as to Fair Market Annual Fixed Rent and such determination shall be submitted to arbitration in accordance with Subparagraph (c) below.
(c) Master Landlord and Subtenant shall meet with each other within five (5) business days after the Outside Agreement Date and exchange the sealed envelopes and then open ...