Prime Lease Incorporated Clause Samples
The 'Prime Lease Incorporated' clause establishes that the terms and conditions of the primary lease agreement between the landlord and the tenant are integrated into the current contract, typically a sublease or related agreement. In practice, this means that the rights, obligations, and restrictions from the original lease are carried over and apply to the parties involved in the new agreement, unless specifically modified or excluded. This clause ensures consistency and continuity between the original lease and subsequent agreements, preventing conflicts and clarifying the applicable rules for all parties.
Prime Lease Incorporated. This Sublease is subject and subordinate to the terms of the Prime Lease, and all of the provisions of the Prime Lease are explicitly incorporated herein by reference and made a part hereof. Provided however, no consent, waiver, amendment, or other change by Landlord of Sublandlord's obligations and liabilities as tenant under the Prime Lease shall modify Subtenant's obligations and liabilities to Sublandlord hereunder unless Subtenant and Sublandlord shall have agreed in writing that such consent, waiver, amendment or change shall be effective hereunder. Unless the context requires otherwise, (i) references in the Prime Lease to Landlord shall refer to Sublandlord, and (ii) references in the Prime Lease to Lessee shall refer to Subtenant. Subtenant expressly assumes toward Sublandlord and agrees to perform all of the obligations, responsibilities and covenants as tenant under the Prime Lease. Notwithstanding the incorporation herein of the Prime Lease, Sublandlord shall not have any responsibility or liability to Subtenant on account of any act or omission of Landlord, any default by Landlord under or breach by Landlord of any term, covenant or condition of the Prime Lease, or any failure by Landlord to perform any of its obligations under the Prime Lease. Provided however, Sublandlord covenants and agrees that in the event of a breach by Landlord under the Prime Lease, either it shall take all necessary actions and pursue all rights and remedies set forth in the Prime Lease (all to be at the sole cost and expense of Subtenant), or it shall permit Subtenant in the name of Sublandlord as tenant under the Prime Lease to pursue all rights and remedies set forth in the Prime Lease. Additionally, except as expressly set forth herein, any right and remedy available to Sublandlord as tenant under the Prime Lease shall be available to Subtenant under this Sublease as to the extent permitted under the Prime Lease.
Prime Lease Incorporated. Subtenant acknowledges that it has received, read and understands the Prime Lease attached hereto as Exhibit B and made a part hereof and is familiar with the terms and conditions as incorporated herein by the provisions of this Section 1. This Sublease shall at all times be subject and subordinate to the terms, conditions, and covenants of the Prime Lease.
(a) The terms, conditions and covenants of the Prime Lease are incorporated by reference herein, except to the extent they are (i) inapplicable, inconsistent with, in conflict with, or otherwise modified by the terms of this Sublease, or (ii) expressly excluded from incorporation into this Sublease as follows: Sections 1.03, 1.04, 1.08, 1.10, 1.11, 1.12, 1.13, 1.14., 1.15, 1.17, 1.18, 1.19, 3.03, 4.03, 4.05, any reference to “Tenant Work” in Section 5.02,
Prime Lease Incorporated. Except as herein otherwise provided (expressly or by other provision made), all of the applicable terms covenants, provisions, conditions, rights and limitations of the Prime Lease and all of the Exhibits thereto (a copy of which is attached hereto) are hereby incorporated by reference and are hereby made and shall be deemed to be terms, covenants, provisions, conditions, rights and limitations applicable to the Sublease as fully and to the same extent as though each and every one of said terms, covenants, provisions, rights and limitations were set forth at length herein EXECUTED in two counterparts this 3rd day of March, 1997. SUBLESSEE: SUBLESSOR: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & CO., PROVEST SERVICES CORP. II, A CALIFORNIA CORPORATION A SERVICE CORPORATION By:/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ------------------------ ------------------------ Its:SR. VP & Gen. Counsel Its:President ----------------------- ------------------- JMC INSURANCE AGENCY OF NEW YORK, INC., A NEW YORK CORPORATION By:/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ------------------------ Its:SR. VP & Gen. Counsel ----------------------- JMC FINANCIAL CORPORATION, A CALIFORNIA CORPORATION By:/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ------------------------ Its:SR. VP & Gen. Counsel ----------------------- ATTACHMENT A DEFINITIONS AND DESCRIPTIONS OF RENT This Attachment A to Sublease Agreement is entered into as of March 3, 1997 by and among ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & CO., JMC FINANCIAL CORPORATION and JMC INSURANCE AGENCY OF NEW YORK, INC. (hereinafter collectively referred to as "Sublessee") and PROVEST SERVICES CORP. II, a wholly owned subsidiary of PROVIDENT BANK, a federal savings association ("Sublessor"). Sublessee and Sublessor have entered into the Sublease Agreement dated as of even date herewith (the "Sublease Agreement") which Sublease Agreement provides for setting forth the rent payable to Sublessor for the premises it provides. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to those terms in the Sublease Agreement and the "Agreement", as defined in the Sublease Agreement. In consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Sublessor and Sublessee hereby agree as follows: