Premises Pursuant to the Master Lease specified below, Manager shall provide GROUP with adequate administrative office space at the addresses described therein (the “Premises”) and Group shall retain all of its remaining facilities for the operation of the Practice with leasehold improvements, auxiliary services and utilities in order that GROUP may effectively perform its functions and duties. In consideration of the sums to be paid to Manager under the terms of this Agreement, Manager hereby leases to GROUP during the term of this Agreement the furniture, fixtures and equipment (the “FF&E”) listed on Exhibit “B” attached hereto and incorporated herein by this reference, under the following terms and conditions:
1.1. Manager is the lessee under certain leases for the Premises (hereinafter collectively referred to as the “Master Lease”) copies of which are attached hereto as Exhibit “A” and incorporated herein by this reference. GROUP hereby acknowledges that the Premises described in the Master Lease are suitable for the administrative office of the Practice. Based and contingent upon GROUP’s promise to timely pay all amounts due under this Agreement, Manager hereby agrees to sublease the leased Premises to GROUP upon the following terms and conditions:
1.1.1. This sublease between Manager and GROUP of the Premises shall be subject to all of the terms and conditions of the Master Lease. In the event of the termination of Manager’s interest as lessee under the Master Lease for any reason, then the sublease created hereby shall simultaneously terminate unless GROUP is willing to assume the obligations under the Master Lease and the Lessor consents thereto.
1.1.2. All of the terms and conditions contained in the Master Lease are incorporated herein as terms and conditions of the sublease (with each reference therein to “Lessor” and “Lessee,” to be deemed to refer to Manager and GROUP, respectively) and, along with the provisions of this Section and Exhibit “A,” shall be the complete terms and conditions of the sublease created hereby.
1.1.3. Notwithstanding the foregoing, as between Manager and GROUP, Manager shall remain responsible for meeting the financial obligations of “Lessee” under the Master Lease, and GROUP shall have no monetary obligation in that regard. In addition, as between Manager and GROUP, Manager shall retain all rights to exercise any options to purchase the Premises, or other similar rights of ownership or possession, which may be granted under the Master Lease, and GROUP shall have no rights in that regard.
1.1.4. In the event this Agreement is terminated according to its terms, this sublease shall also terminate automatically.
1.1.5. If the Master Lease contains an option to renew the term thereof, Manager shall notify GROUP, at least thirty (30) days prior to the expiration of the time for exercising such option, of Manager’s intention to renew or not to renew such term. If Manager determines not to renew such term, Manager shall, at GROUP’s option and upon the consent of the Landlord in accordance with the terms of the Master Lease, assign the Master Lease to GROUP, including Manager’s right to renew the term thereof.
