Non-Monetary Obligations. (a) Except as set forth in subsection (b), if any non-monetary obligation of the tenant under a Prime Lease, other than those for which specific provision is made in this Agreement, is not attributable either to the Subleased Premises exclusively or the remainder of the Leased Premises exclusively (e.g., the maintenance of insurance or the repair of any HVAC unit serving the entire Leased Premises or the roof), such obligation shall be performed by Tenant and the cost of performing same shall be shared pro rata by Subtenant, Tenant and any other occupant of the Leased Premises based on their respective Space Size Ratios, unless the parties have agreed to a different cost-sharing arrangement under a separate written agreement. For all non-monetary obligations of the tenant under a Prime Lease which are attributable either to the Subleased Premises exclusively or the remainder of the Leased Premises exclusively, then such obligations shall be the sole responsibility of the Subtenant or Tenant, respectively. (b) If any individual capital expenditure or repair required to be performed by Tenant pursuant to the provisions of the Prime Lease is estimated to be in excess of $10,000, Tenant shall notify Subtenant of such estimate prior to entering into any binding agreement with respect thereto, and Subtenant shall have the right (i) to challenge such estimate or find a lower estimate within 30 days of receiving such notice from Tenant and (ii) if the remaining term of the applicable sublease is less than eighteen (18) months, to decline to share the costs of such capital expenditure or repair (unless such expenditure or repair is reasonably necessary or is mandated by the Prime Lease, in which case Subtenant may pay only its pro rata share of the costs of any reasonable, lower cost alternative which would be permissible under the Prime Lease if the Tenant were not renewing the Prime Lease upon its expiration).
Appears in 2 contracts
Samples: Store Leases Agreement, Store Leases Agreement (Express Parent LLC)
Non-Monetary Obligations. (a) Except as set forth in subsection (b), if any non-monetary obligation of the tenant under a Prime Lease, other than those for which specific provision is made in this Agreement, is not attributable either to the Subleased Premises exclusively or the remainder of the Leased Premises exclusively (e.g., the maintenance of insurance or the repair of any HVAC unit serving the entire Leased Premises or the roof), such obligation shall be performed by Prime Tenant and the cost of performing same shall be shared pro rata by SubtenantToo, Inc. and Prime Tenant and any other occupant of the Leased Premises based on their respective Space Size Ratios, unless the parties have agreed to a different cost-sharing arrangement under a separate written agreement. For all non-monetary obligations of the tenant under a Prime Lease which are attributable either to the Subleased Premises exclusively or the remainder of the Leased Premises exclusively, then such obligations shall be the sole responsibility of the Subtenant or Tenant, respectively.
(b) If any individual capital expenditure or repair required to be performed by Tenant pursuant to the provisions of the Prime Lease is estimated to be in excess of $10,00050,000, Prime Tenant shall notify Subtenant Too, Inc. of such estimate prior to entering into any binding agreement with respect thereto, and Subtenant Too, Inc. shall have the right (i) to challenge such estimate or find a lower estimate within 30 10 business days of receiving such notice from Prime Tenant and (ii) if the remaining term of the applicable sublease is less than eighteen (18) months, to decline to share the costs of such capital expenditure or repair if the remaining term of the applicable sublease is less than one year (unless such expenditure or repair is reasonably necessary or is mandated by the Prime Lease, in which case Subtenant Too, Inc. may pay only its pro rata ratable share of the costs of any reasonable, lower cost alternative which would be permissible under the Prime Lease if the Prime Tenant were not renewing the Prime Lease upon its expiration).
Appears in 2 contracts
Samples: Store Leases Agreement (Too Inc), Store Leases Agreement (Too Inc)