Common use of Permitted Subletting Clause in Contracts

Permitted Subletting. (a) Notwithstanding anything to the contrary in this Article IX, the following shall not require the consent of Landlord: (i) licenses, concessions or store-within-a-store arrangements with or to third-party retailers, concessionaires or licensees that operate wholly within or as part of the applicable Store with respect to any Demised Premises and not separately or apart from Tenant’s operations at such Store, provided that such licenses, concessions or store-within-a-store arrangements do not violate or conflict with any applicable Property Requirements and are in all cases in compliance with the Permitted Use (collectively, “Permitted Licenses”); and/or (ii) subleases of space in the Demised Premises to (A) any Affiliate of Tenant so long as such subleases are not designed to circumvent the provisions of this Article IX or Landlord’s consent or approval rights hereunder (collectively, “Affiliate Subleases”), or (B) any other Person (collectively, “Third Party Subleases”), provided that the premises demised under any such Third Party Subleases do not in the aggregate comprise more than fifteen percent (15%) of the Gross Leasable Square Footage of the Properties subject to this Lease as of the Commencement Date (i.e., such fifteen percent (15%) limit is not calculated on a Property-by-Property basis) (collectively, “No-Consent Subleases”; such 15% limit under this Section 9.2(a)(ii), as the same may be adjusted pursuant to the provisions of Section 1.9, the “No-Consent Sublease Basket”; and Affiliate Subleases and No-Consent Subleases, collectively, “Permitted Subleases”). Landlord hereby consents to the TBA Leases and acknowledges and agrees that the TBA Leases shall not constitute No-Consent Subleases and shall not be counted toward the No-Consent Sublease Basket.

Appears in 2 contracts

Samples: Retail Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co Inc)

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Permitted Subletting. Tenant shall not have any right to lease, sublease, license or otherwise permit the use or occupancy of any space on or within any Property, except for: (a) Notwithstanding anything to the contrary in this Article IXLands’ End Agreements; (b) the Sears Hometown License Agreement; and (c) leases, the following shall not require the consent of Landlord: (i) licenses, concessions or store-within-ain-store arrangements department agreements with or to third-party retailers, concessionaires concessionaires, tenants or licensees that (i) operate wholly within or as part of the applicable Tenant’s Store with respect to any Demised Premises and (except for storage or parking of vehicles in connection with vehicle rentals), do not separately operate separate or apart from Tenant’s the operations at such Storeof the applicable Kmart Stores and/or Sears Stores, provided that such licenses, concessions or store-within-a-store arrangements do not violate or conflict with any applicable Property Requirements Encumbrance or any use restrictions and/or exclusives which affect the Demised Premises as of the time of the Commencement Date and which are in all cases in compliance generally consistent with historical practices at the Stores or otherwise consistent with the Permitted Use permitted uses of Section 7.2 (the leases, licenses, concessions and other agreements in clauses (a), (b) and (c), individually, a “Sublease,” and collectively, the Permitted LicensesSubleases”); and/or provided that in the case of the Subleases described in part (c) of this sentence, (i) (x) Tenant shall use commercially reasonable efforts to give Notice to Landlord of each new Sublease executed after the Commencement Date within thirty (30) days of the execution thereof and prior to the commencement of occupancy by the sublessee; provided, however, Tenant shall not be in breach or default of the foregoing obligation to provide Notices of Subleases if it provides a list of Subleases entered into since the last Notice to Landlord within fifteen (15) days of Landlord’s written request therefor given not more frequently than once in any calendar quarter during the Term, and (y) Tenant shall give Notice to Landlord of each new Sublease to the extent not previously provided, as part of the quarterly reports provided in Section 21.24(a) to the extent of the actual knowledge of such Subleases by the person preparing and signing such quarterly report, and (ii) subleases such Sublease shall be expressly subject to the rights of space in the Demised Premises to (A) any Affiliate of Tenant so long as such subleases are not designed to circumvent the provisions of this Article IX or Landlord’s consent or approval rights hereunder (collectively, “Affiliate Subleases”), or (B) any other Person (collectively, “Third Party Subleases”), provided that the premises demised under any such Third Party Subleases do not in the aggregate comprise more than fifteen percent (15%) of the Gross Leasable Square Footage of the Properties subject to this Lease Leases existing as of the Commencement Date (i.e., which were entered into prior to the execution of such fifteen percent (15%) limit Sublease and to other Encumbrances affecting the Property as of the date such Sublease is not calculated on a Property-by-Property basis) (collectivelyentered into. For the purposes of this Section 9.2 only, “No-Consent Subleases”; such 15% limit under this Section 9.2(a)(ii), as the same may be adjusted pursuant Encumbrance” shall include any Landlord Mortgage solely with respect to the provisions of Section 1.9, the “No-Consent Sublease Basket”; and Affiliate Subleases and No-Consent Subleases, collectively, “Permitted Subleases”). Landlord hereby consents to the TBA Leases and acknowledges and agrees that the TBA Leases shall not constitute No-Consent Subleases and shall not be counted toward the No-Consent Sublease Basketlien thereof.

Appears in 2 contracts

Samples: Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties)

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Permitted Subletting. Tenant shall not have any right to lease, sublease, license or otherwise permit the use or occupancy of any space on or within any Property (including for avoidance of doubt, the Tenant 100% Occupancy Properties), except for: (a) Notwithstanding anything to the contrary in this Article IXLands’ End Agreements; and (b) leases, the following shall not require the consent of Landlord: (i) licenses, concessions or store-within-a-store arrangements in‑store department agreements with or to third-party third‑party retailers, concessionaires concessionaires, tenants or licensees that (i) operate wholly within or as part of the applicable Tenant’s Store with respect to any Demised Premises and (except for storage or parking of vehicles in connection with vehicle rentals), do not separately operate separate or apart from Tenant’s the operations at such Storeof the applicable Kmart Stores and/or Sears Stores, provided that such licenses, concessions or store-within-a-store arrangements do not violate or conflict with any applicable Property Requirements Encumbrance or any use restrictions and/or exclusives which affect the Demised Premises as of the time of the Commencement Date and which are in all cases in compliance generally consistent with historical practices at the Stores or otherwise consistent with the Permitted Use permitted uses of Section 7.2 (the leases, licenses, concessions and other agreements in clauses (a) and (b), individually, a “Sublease,” and collectively, the Permitted LicensesSubleases”); and/or provided that in the case of the Subleases described in part (c) of this sentence, (i) (x) Tenant shall use commercially reasonable efforts to give Notice to Landlord of each new Sublease executed after the Commencement Date within thirty (30) days of the execution thereof and prior to the commencement of occupancy by the sublessee; provided, however, Tenant shall not be in breach or default of the foregoing obligation to provide Notices of Subleases if it provides a list of Subleases entered into since the last Notice to Landlord within fifteen (15) days of Landlord’s written request therefor given not more frequently than once in any calendar quarter during the Term, and (y) Tenant shall give Notice to Landlord of each new Sublease to the extent not previously provided, as part of the quarterly reports provided in Section 21.24 to the extent of the actual knowledge of such Subleases by the person preparing and signing such quarterly report, and (ii) subleases such Sublease shall be expressly subject to the rights of space in the Demised Premises to (A) any Affiliate of Tenant so long as such subleases are not designed to circumvent the provisions of this Article IX or Landlord’s consent or approval rights hereunder (collectively, “Affiliate Subleases”), or (B) any other Person (collectively, “Third Party Subleases”), provided that the premises demised under any such Third Party Subleases do not in the aggregate comprise more than fifteen percent (15%) of the Gross Leasable Square Footage of the Properties subject to this Lease Leases existing as of the Commencement Date (i.e., which were entered into prior to the execution of such fifteen percent (15%) limit Sublease and to other Encumbrances affecting the Property as of the date such Sublease is not calculated on a Property-by-Property basis) (collectivelyentered into. For the purposes of this Section 9.2 only, “No-Consent Subleases”; such 15% limit under this Section 9.2(a)(ii), as the same may be adjusted pursuant Encumbrance” shall include any Landlord Mortgage solely with respect to the provisions of Section 1.9, the “No-Consent Sublease Basket”; and Affiliate Subleases and No-Consent Subleases, collectively, “Permitted Subleases”). Landlord hereby consents to the TBA Leases and acknowledges and agrees that the TBA Leases shall not constitute No-Consent Subleases and shall not be counted toward the No-Consent Sublease Basketlien thereof.

Appears in 1 contract

Samples: Master Lease (Seritage Growth Properties)

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