Common use of Prime Lease Clause in Contracts

Prime Lease. Notwithstanding anything to the contrary contained herein, in the event the Prime Lease is terminated for any reason whatsoever, this Sublease shall terminate on the date that the Prime Lease is terminated. Upon any such termination of the Prime Lease for any reasons other than Subtenant’s breach or default hereunder, or Sublandlord’s default under the Prime Lease occasioned by Subtenant’s failure to perform its obligations hereunder, all Rent due and owing hereunder shall be pro-rated, where applicable, as of the date of such termination, and paid to Sublandlord, and thereafter in the event of a termination of the Prime Lease which is not due to Subtenant’s breach or default under this Sublease and/or Sublandlord’s default under the Prime Lease which is due to Subtenant’s breach or default under this Sublease, then, Sublandlord shall have no further obligation or liability to Subtenant arising from, through, or under this Sublease except as more particularly set forth herein, and upon Subtenant’s return of possession of the Premises to Sublandlord and Subtenant’s compliance with its obligations hereunder accruing on and/or before the date of such termination, Subtenant shall have no obligation or liability to Sublandlord accruing after the date of such termination relating to this Sublease, except as more particularly set forth herein.

Appears in 2 contracts

Sources: Sublease (Mesoblast LTD), Sublease (Mesoblast LTD)

Prime Lease. Notwithstanding anything to the contrary contained herein, in the event the Prime Lease is terminated for any reason whatsoever, this Sublease shall terminate on the date that the Prime Lease is terminated. Upon any such termination The terms and conditions of the Prime Lease for any reasons other than Subtenant’s breach or default are hereby incorporated by reference and made a part hereof, meaning that, as applicable, references to "Tenant" therein shall be deemed to be "Sublessee" hereunder, or Sublandlord’s references to "Landlord" therein shall be deemed to be "Sublessor" hereunder, and such other terms shall be deemed modified as may be appropriate in the given context, provided: a. Prime Lessor shall continue to have all rights set forth in the Prime Lease (notwithstanding the fact that Sublessor shall also have the same rights under this Sublease); b. Sublessor shall not be deemed to have assumed any of the obligations of Prime Lessor as a result of the incorporation of the Prime Lease unless specifically set forth herein; c. Sublessor, except as otherwise provided herein, shall not be liable for the performance of any of the obligations of Prime Lessor under the Prime Lease; d. Sublessee shall have no claim against Sublessor by reason of any default in fulfilling such obligations upon the part of Prime Lessor unless such default results from Sublessor's being in default under the Prime Lease occasioned by Subtenant’s failure and not due to perform its obligations a default of Sublessee hereunder, all Rent due and owing hereunder shall be pro-rated, where applicable, as of the date of such termination, and paid ; e. Sublessor agrees not to Sublandlord, and thereafter in the event of a termination of modify or amend the Prime Lease without the consent of the Sublessee, which is consent shall not due be unreasonably withheld or delayed; and f. with respect to Subtenant’s breach work, services, repairs and restoration or default the performance of other obligations required of Prime Lessor under this Sublease and/or Sublandlord’s default the Prime Lease, if any, Sublessor's sole obligation with respect thereto, shall be to request the same, after requested by Sublessee, and to send all notices required under the Prime Lease which is due to Subtenant’s breach or default under this SubleasePrime Lessor, then, Sublandlord shall have no further obligation or liability to Subtenant arising from, through, or under this Sublease except as more particularly set forth herein, and upon Subtenant’s return of possession of the Premises to Sublandlord and Subtenant’s compliance with its obligations hereunder accruing on and/or before the date of such termination, Subtenant shall have no obligation or liability to Sublandlord accruing after the date of such termination relating to this Sublease, except as more particularly set forth hereincase may be.

Appears in 2 contracts

Sources: Sublease Agreement (GTC Biotherapeutics Inc), Sublease Agreement (Antigenics Inc /De/)

Prime Lease. 1.1 Sublandlord and Subtenant agree that this Sublease is entered into to create a sublease under the Prime Lease. The Prime Lease is attached hereto as Exhibit A and by this reference incorporated herein. Subtenant acknowledges having received and reviewed the Prime Lease. Notwithstanding anything to the contrary contained hereinin this Sublease, in the event any termination of the Prime Lease is terminated for any reason whatsoever, will cause this Sublease shall terminate on to be terminated as of the same time and date that the Prime Lease is terminated. Upon , subject to Section 15.4 of this Sublease, which provides for the survival of certain claims in the event the Sublease is terminated, and any unearned Rent paid in advance shall be refunded to Subtenant; provided, however that if such termination is the result of the Prime Lease for any reasons other than a breach of Subtenant’s breach or default hereunder, or Sublandlord’s default under the Prime Lease occasioned by Subtenant’s failure to perform its 's obligations hereunder, all Rent due and owing hereunder shall be pro-rated, where applicable, as of the date of such termination, and paid to Sublandlord, and thereafter in the event of a termination of the Prime Lease which is not due to Subtenant’s breach or default under this Sublease and/or Sublandlord’s default under the Prime Lease which is due to Subtenant’s breach or default under this Sublease, then, then Sublandlord shall have no further obligation or liability the right to retain such amount until such time that the damages from such breach have been ascertained, at which time such amount may be applied by Sublandlord to the payment of such damages without limiting the amount Sublandlord will be entitled to recover as a result of such breach. 1.2 Sublandlord and Subtenant arising from, through, or under agree that this Sublease except is not effective until such time as more particularly set forth herein, and upon Subtenant’s return of possession of the Premises to Sublandlord and Subtenant’s compliance with its obligations hereunder accruing on and/or before the date of such termination, Subtenant shall have no obligation or liability to Sublandlord accruing after the date of such termination relating Primary Landlord has consented in writing to this Sublease, except as more particularly set forth hereinsuch consent to be evidenced by means of Primary Landlord's execution and delivery of a counterpart of this Sublease in the space provided below. Until such written consent has been obtained, either party shall have the right to terminate this Sublease upon the delivery of written notice thereof to the other party and Primary Landlord.

Appears in 1 contract

Sources: Sublease Agreement (Privatebancorp Inc)

Prime Lease. Notwithstanding anything This Agreement shall be subject and subordinate to all of the terms and conditions contained in the Prime Lease as said terms and conditions affect the Premises, and all of the terms and conditions of the Prime Lease, except as otherwise set forth herein, are hereby incorporated into this Agreement and shall be binding upon Grantee (and Grantor, to the contrary contained extent applicable) with respect to the Sublease Premises to the same extent as if Grantee were named as tenant and Grantor as landlord under the Prime Lease. If a term or provision of this Agreement is inconsistent or in conflict with a term or provision of the Prime Lease, the term or provision of this Agreement shall control but only as between Grantor and Grantee (including, by way of example, that Grantee shall have no obligation to pay Sublease Rent or operating expenses except as explicitly provided herein). For purposes of this Agreement, references in the Prime Lease to the premises, demised premises, or similar references in the Prime Lease shall mean the Sublease Premises. Each party agrees that it shall not do or omit to do anything which would result in a default under the Prime Lease, and each party agrees to indemnify and hold the other harmless from and against all claims, demands or liabilities resulting from such party's breach, violation or nonperformance of any of its obligations under the Prime Lease, as incorporated herein. Subject to the exceptions set forth herein, in Grantee shall be entitled to all of the event rights and privileges of Grantor as tenant under the terms of the Prime Lease with respect to the Premises. In addition, this Agreement shall be subject and subordinate to all mortgages, deeds of trust and other rights or encumbrances to which the Prime Lease is terminated for any reason whatsoever, this Sublease shall terminate on the date that the Prime Lease is terminated. Upon any such termination of the Prime Lease for any reasons other than Subtenant’s breach now or default hereunder, hereafter may be subject or Sublandlord’s default under the Prime Lease occasioned by Subtenant’s failure to perform its obligations hereunder, all Rent due and owing hereunder shall be pro-rated, where applicable, as of the date of such termination, and paid to Sublandlord, and thereafter in the event of a termination of the Prime Lease which is not due to Subtenant’s breach or default under this Sublease and/or Sublandlord’s default under the Prime Lease which is due to Subtenant’s breach or default under this Sublease, then, Sublandlord shall have no further obligation or liability to Subtenant arising from, through, or under this Sublease except as more particularly set forth herein, and upon Subtenant’s return of possession of the Premises to Sublandlord and Subtenant’s compliance with its obligations hereunder accruing on and/or before the date of such termination, Subtenant shall have no obligation or liability to Sublandlord accruing after the date of such termination relating to this Sublease, except as more particularly set forth herein.subordinate

Appears in 1 contract

Sources: Sublease Agreement

Prime Lease. 1.1 Sublandlord and Subtenant agree that this Sublease is entered into to create a sublease under the Prime Lease. The Prime Lease is attached hereto as Exhibit A and by this reference incorporated herein. Subtenant acknowledges having received and reviewed the Prime Lease. Notwithstanding anything to the contrary contained hereinin this Sublease, in the event any termination of the Prime Lease is terminated for any reason whatsoever, will cause this Sublease shall terminate on to be terminated as of the same time and date that the Prime Lease is terminated. Upon , subject to Section 15.4 of this Sublease, which provides for the survival of certain claims in the event the Sublease is terminated, and any unearned Rent paid in advance shall be refunded to Subtenant; provided, however, that if such termination is the result of the Prime Lease for any reasons other than a breach of Subtenant’s breach or default hereunder, or Sublandlord’s default under the Prime Lease occasioned by Subtenant’s failure to perform its 's obligations hereunder, all Rent due and owing hereunder shall be pro-rated, where applicable, as of the date of such termination, and paid to Sublandlord, and thereafter in the event of a termination of the Prime Lease which is not due to Subtenant’s breach or default under this Sublease and/or Sublandlord’s default under the Prime Lease which is due to Subtenant’s breach or default under this Sublease, then, then Sublandlord shall have no further obligation or liability the right to retain such amount until such time that the damages from such breach have been ascertained, at which time such amount may be applied by Sublandlord to the payment of such damages without limiting the amount Sublandlord will be entitled to recover as a result of such breach. 1.2 Sublandlord and Subtenant arising from, through, or under agree that this Sublease except is not effective until such time as more particularly set forth herein, and upon Subtenant’s return of possession of the Premises to Sublandlord and Subtenant’s compliance with its obligations hereunder accruing on and/or before the date of such termination, Subtenant shall have no obligation or liability to Sublandlord accruing after the date of such termination relating Primary Landlord has consented in writing to this Sublease, except as more particularly set forth hereinsuch consent to be evidenced by means of Primary Landlord's execution and delivery of a counterpart of this Sublease in the space provided below. Until such written consent has been obtained, either party shall have the right to terminate this Sublease upon the delivery of written notice thereof to the other party and Primary Landlord.

Appears in 1 contract

Sources: Sublease Agreement (Privatebancorp Inc)