NEW YORK LEASE. If prior to the Effective Time Wellsford is unable to obtain the consent of the landlord under the lease of the office space in New York, New York currently leased by Wellsford (the "New York Lease") to either (a) the assignment of the New York Lease to Newco and the release of the Surviving Trust from all liability under the New York Lease, or (ii) the sublease to Newco of the space leased under the New York Lease, then the Surviving Trust will reasonably co-operate with Newco to provide Newco with the benefits of the New York Lease, including becoming a 50% joint venture partner with Newco in an entity formed to sublease such space.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Wellsford Residential Property Trust), Tax Sharing Agreement (Equity Residential Properties Trust), Agreement and Plan of Merger (Equity Residential Properties Trust)
