Common use of Permitted Subleases Clause in Contracts

Permitted Subleases. (a) Tenant may, with Landlord's prior written consent, which may not be unreasonably withheld, sublease or license portions of the Leased Property to concessionaires or licensees to operate any portions (but not the entirety) of the Leased Property customarily associated with or incidental to the operation of the Facility; provided, however, that Landlord's consent to any proposed sublease or license shall not be considered unreasonably withheld if Landlord believes that (i) the rental or other amounts to be paid by the proposed sublessee or licensee thereunder would be based, in whole or in part, on the income or profits derived by such proposed sublessee or licensee from the Facility or the Leased Property, (ii) the Landlord owns an interest, directly or indirectly (by applying the constructive ownership rules of Section 856(d)(5) of the Code) in the proposed sublessee or licensee or (iii) the proposed sublease or license would cause (x) a portion of the amounts received by Landlord pursuant to this Lease or any sublease or license to fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar successor provision thereto, or (y) any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Code. (b) Notwithstanding the foregoing, Tenant shall, without Landlord's prior approval, be permitted to sublease portions of the Leased Property to residents of the Facility; provided, however, that Tenant shall not require or accept prepayment for more than three (3) months' use of individual units or rooms in any Facility. Amounts charged to residents for individual units or rooms shall not be materially less than fair market value.

Permitted Subleases. (a) Tenant may, with Landlord's prior written consent, which may not be unreasonably withheld, sublease or license portions of the Leased Property to concessionaires or licensees to operate any portions (but not the entirety) of the Leased Property customarily associated with or incidental to the operation of the Facility; provided, however, that and Landlord's consent to any proposed sublease or license shall not be considered unreasonably withheld if Landlord believes that (i) the rental or other amounts to be paid by the proposed sublessee or licensee thereunder would be based, in whole or in part, on the income or profits derived by such proposed sublessee or licensee from the Facility or the Leased Property, (ii) the Landlord owns an interest, directly or indirectly (by applying the constructive ownership rules of Section 856(d)(5) of the Code) in the proposed sublessee or licensee or (iii) the proposed sublease or license would cause (x) a portion of the amounts received by Landlord pursuant to this Lease or any sublease or license to fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code, or any similar successor provision thereto, or (y) any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Code. In addition to the foregoing, in the event that Landlord consents to any such sublease or license of any portions of the Leased Property, Landlord shall have the right to reasonably approve the form of any sublease or license, which Landlord agrees to do on a diligent and prompt basis. (b) Notwithstanding the foregoing, Tenant shall, without Landlord's prior approval, be permitted to sublease portions of the Leased Property to residents of the Facility; provided, however, that Tenant shall not require or accept prepayment for more than three (3) months' use of individual units or rooms in any Facility. Amounts charged to residents for individual units or rooms shall not be materially less than fair market value.