New Sublease After Termination Clause Samples

New Sublease After Termination. If this Sublease is terminated prior to the expiration of the Term due to a default by Tenant, the Mortgagee (and for the purposes of this paragraph (d) “Mortgagee” shall be deemed to include the Administrative Agent) (or its designee or nominee; provided that such designee or nominee either is controlled by the Mortgagee or meets the requirements of Subsection (c)(v)(1) (b) and (c) hereof), may elect to demand a new sublease of the Leased Property by written notice to the Landlord within 30 days after such termination. Such new Sublease (the “New Sublease”) shall include all covenants, terms, provisions and limitations of this Sublease, effective as of the date of such termination. The Landlord’s obligation to enter into a New Sublease pursuant to the preceding sentence is subject to NASA consent, as required by Section 12.2 of the Ground Lease, and to the following requirements, conditions, and provisions: The New Sublease shall be executed by the parties within 30 days after receipt by the Landlord of notice of the election by the Mortgagee (or such other acquiring person) to enter into a New Sublease. (i) A New Sublease created thereby shall be subject to the same conditions contained in this Sublease and shall continue to maintain the same priority as the Sublease with regard to the Leasehold Mortgage or any other mortgage, lien, charge, or encumbrance affecting the Leased Property. Concurrently with the execution and delivery of the New Sublease, the Landlord shall assign to the new party named therein all its right, title and interest in and to moneys, if any, then held by or payable to the Landlord which Tenant would have been entitled to receive but for the termination of the Sublease. (ii) If Tenant refuses to surrender possession of the Leased Property, the Landlord shall, at the request of Mortgagee or such other acquiring person, institute and pursue diligently to conclusion the appropriate legal remedy or remedies to oust or remove Tenant and all other occupants who are not authorized to remain in possession hereunder; provided that any such action taken by the Landlord at the request of Mortgagee or such other acquiring person shall be at the sole expense of the Mortgagee or such other acquiring person, and the Landlord may require upfront payment, an escrow of costs, or reimbursement of all sums paid by the Landlord in connection with such proceedings, which payment shall be made within ten calendar days after receipt by the Mortgagee or ot...