Common use of Prime Lease Clause in Contracts

Prime Lease. (a) Sublessee acknowledges that it has read and examined ----------- the Prime Lease, and the modification and amendment thereof, and is fully familiar with all the terms, covenants and conditions on the Sublessor's part to be performed thereunder, and that, subject to the express provisions of this Sublease, all of the terms, covenants and conditions of the Prime Lease are incorporated hereinthis Sublease, all of the terms, covenants and conditions of the Prime Lease are incorporated herein as if set forth at length, and those applying to the Tenant therein shall apply to Sublessee. (b) Sublessee does hereby assume and agree to be bound by and perform all of the terms, covenants and conditions on Sublessor's part to be performed thereunder as the same affect the Subleased Premises. In the event Sublessee shall default in the full performance of any of the terms, covenants and conditions on its part to be performed under this Sublease, then Sublessor shall have the same rights and remedies with respect to such default as are given to Landlord under the Prime Lease with respect to defaults by Sublessor, as tenant, under the Prime Lease. Notwithstanding the foregoing, this Sublease is separate from and subordinate to the Prime Lease.

Appears in 1 contract

Samples: Sublease Agreement (Prodigy Communications Inc)

AutoNDA by SimpleDocs

Prime Lease. (a) Sublessee acknowledges that it has read and examined ----------- the Prime Lease, and the modification and amendment thereof, and is fully familiar with all the terms, covenants and conditions on the Sublessor's part to be performed thereunder, and that, subject to the express provisions of this Sublease, all of the terms, covenants The terms and conditions of the Prime Lease are hereby incorporated hereinthis Subleaseby reference and made a part hereof, meaning that, as applicable, references to "Tenant" therein shall be deemed to be "Sublessee" hereunder, 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 (i) Prime Landlord shall continue to have all of the terms, covenants and conditions of rights set forth in the Prime Lease are incorporated herein as if set forth at length, and those applying to (notwithstanding the Tenant therein shall apply to Sublessee. (b) Sublessee does hereby assume and agree to be bound by and perform all of the terms, covenants and conditions on Sublessor's part to be performed thereunder as the same affect the Subleased Premises. In the event Sublessee shall default in the full performance of any of the terms, covenants and conditions on its part to be performed under this Sublease, then fact that Sublessor shall also have the same rights under this Sublease), and remedies with respect (ii) Sublessor shall not be deemed to such default have assumed any of the obligations of Prime Landlord as are given a result of the incorporation of the Prime Lease, Sublessor shall promptly pay to Prime Landlord all amounts owed by it under the Prime Lease, and shall otherwise perform its obligations under the Prime Lease with respect not transferred to defaults by SublessorSublessee pursuant to this Sublease. If pursuant to Article XV of the Prime Lease, Prime Landlord notifies Sublessor that it is in default as tenant, Tenant under the Prime Lease, Sublessor agrees to deliver to Sublessee promptly a copy of such notice of default. Notwithstanding the foregoing, this Sublease If Sublessor is separate from and subordinate to in default under the Prime Lease, and all cure periods have expired, Sublessee shall have the right, but not the obligation, to cure Sublessor's default.

Appears in 1 contract

Samples: Lease (American Science & Engineering Inc)

Prime Lease. (a) Notwithstanding that this Sublease is a sublease, Prime Landlord, Sublessor and Sublessee acknowledges acknowledge that it has read the terms and examined ----------- provisions of this Sublease shall not be subordinate to the Prime Lease but that this Sublease contains all of the terms and conditions which have been agreed to by the parties without reference to the Prime Lease, and the modification and amendment thereof, and is fully familiar with all the terms, covenants and conditions on the Sublessor's part to be performed thereunder, and that, subject to the express provisions of this Sublease, all of the terms, covenants and conditions of the Prime Lease are incorporated hereinthis Sublease, all of the terms, covenants and conditions of the Prime Lease are incorporated herein as if set forth at length, and those applying to the Tenant therein shall apply to Sublessee. (b) Sublessee does hereby assume and agree Notwithstanding anything contained to be bound by and perform all of the terms, covenants and conditions on Sublessor's part to be performed thereunder as the same affect the Subleased Premises. In the event Sublessee shall default contrary in the full performance of any of the terms, covenants and conditions on its part to be performed under Prime Lease or in this Sublease, then Sublessor shall have the same rights and remedies with respect to such default as are given to Landlord under parties agree that in the event of cancellation of the Prime Lease with respect to defaults by for any reason whatsoever, including the default of Sublessor, as tenanttenant thereunder, under or the Prime Lease. Notwithstanding the foregoingsurrender thereof, whether voluntary, involuntary or by operation of law, this Sublease is separate from shall not thereby be cancelled or terminated, but Sublessee shall make full and subordinate complete attornment to the Prime LeaseLandlord and the Prime Landlord shall recognize all of Sublessee’s rights hereunder for the balance of the Sublease Term with the same force and effect as thought this Sublease were originally made from the Prime Landlord to Sublessee hereunder. (c) The Prime Landlord has executed his consent to this Sublease in order to evidence his acceptance and agreement to the foregoing provisions of this Paragraph 13.

Appears in 1 contract

Samples: Purchase and Sale Agreement

AutoNDA by SimpleDocs

Prime Lease. 2.2.1 Sublandlord hereby represents and warrants that: (ai) Sublessee acknowledges that it Sublandlord is the tenant under the Prime Lease and has read the full right to enter into this Sublease (subject, however, to Prime Landlord’s consent); (ii) the Prime Lease is in full force and examined ----------- effect; (iii) Sublandlord has not received from Prime Landlord any notice of any default on the part of Sublandlord as tenant under the Prime Lease which has not been cured, nor has Sublandlord given Prime Landlord notice of any default on the part of Prime Landlord as landlord under the Prime Lease which has not been cured; and (iv) Sublandlord has submitted to Subtenant a true and complete copy of the Prime Lease. Subtenant also warrants that it is satisfied with the present condition of the Premises (which Subtenant takes “as is” without any representation or warranty by Sublandlord regarding the condition of the Premises, or the fitness of the Premises for any particular use and without any obligation of any kind on Sublandlord to make any repairs or improvements thereto in connection with Subtenant’s occupancy) and with Subtenant’s ability to use the modification and amendment thereof, and is fully familiar with all the terms, covenants and conditions Premises on the Sublessor's part terms herein set forth. 2.2.2 This Sublease is made subject and subordinate to be performed thereunder, and that, subject to the express provisions of this Sublease, all of the terms, covenants terms and conditions of the Prime Lease are incorporated hereinthis Sublease, all of the terms, covenants and conditions of the Prime Lease are incorporated herein as if set forth at length, and those applying to the Tenant therein extent that they relate to the Premises subleased hereunder, except for the Excluded Provisions (which shall only apply to Sublesseethe extent specifically referred to herein). (b) Sublessee does hereby assume and agree to be bound by and perform all of the terms, covenants and conditions on Sublessor's part to be performed thereunder as the same affect the Subleased Premises. In the event Sublessee shall default in the full performance of any of the terms, covenants and conditions on its part to be performed under this Sublease, then Sublessor shall have the same rights and remedies with respect to such default as are given to Landlord under the Prime Lease with respect to defaults by Sublessor, as tenant, under the Prime Lease. Notwithstanding the foregoing, this Sublease is separate from and subordinate to the Prime Lease.

Appears in 1 contract

Samples: Sublease (Coley Pharmaceutical Group, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!