Proposed Sublet Premises Sample Clauses

Proposed Sublet Premises. Landlord hereby acknowledges that, during the first year of the Lease Term, Tenant intends to sublease up to fifty percent of the Leased Premises. Provided Tenant is not in default of this Lease, Landlord agrees that it will not exercise its right, as provided for in Paragraph 19, to terminate the Lease as a result of a request by Tenant to sublease fifty percent or less of the Premises for a sublease term not to extend beyond July 14, 1999. In such event, Landlord agrees to issue Landlord's standard consent to said sublease, subject to (a) Tenant submitting to Landlord a copy of said sublease (prior to said sublease commencing), (b) Landlord, Tenant and Subtenant thereafter executing Landlord's standard Consent to Sublease agreement and (c) Landlord receives payment from Tenant of Landlord's costs for processing said Sublease Consent prior to said sublease commencing. In addition to and notwithstanding anything to the contrary in Paragraph 19, Tenant shall be entitled to retain one hundred percent of any rents due Tenant from a subtenant on the Proposed Sublet Premises in excess of the Rent payable by Tenant to Landlord hereunder ("Excess Rent") during the period prior to July 15, 1999.
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Proposed Sublet Premises. Landlord hereby acknowledges that, during the first year of the Lease Term, Tenant intends to sublease approximately 12,938 square feet of the Leased Premises, which space is located on the first floor of the Building ("Proposed Sublet Premises"). Provided Tenant is not in default of this Lease, Landlord agrees that it will not exercise its right, as provided for in Paragraph 19, to terminate the Lease as a result of a request by Tenant to sublease the Proposed Sublet Premises for a sublease term not to extend beyond June 30, 1999. In such event, Landlord agrees to issue Landlord's standard consent to said sublease, subject to (a) Tenant submitting to Landlord a copy of said sublease (prior to said sublease commencing), (b) Landlord, Tenant and Subtenant thereafter executing Landlord's standard Consent to Sublease agreement and (c) Landlord receives payment from Tenant of Landlord's costs for processing said Sublease Consent prior to said sublease commencing. As an accommodation to Tenant, Landlord has reduced the Base Rent Rate on the Proposed Sublet Premises for the first year of the Lease Term to $1.75 per square foot per month, and as such, Tenant specifically acknowledges that the Base Rent Tenant shall pay for the first year of the Lease Term is a blended rate. Any rents due Tenant from a subtenant on the Proposed Sublet Premises in excess of $1.75 per square foot per month shall be considered excess rent ("Excess Rent"), and pursuant to the terms of Paragraph 19, Tenant shall pay one hundred percent of such Excess Rent to Landlord. However, prior to sharing such Excess Rent, Tenant shall be first entitled to recover from such Excess Rent the amount of all reasonable leasing commissions on said Proposed Sublet Premises paid to third parties not affiliated with Tenant. The parties hereto agree that Landlord will accommodate Tenant by assisting Tenant in finding a subtenant to lease the Proposed Sublet Premises for a sublease term not to exceed June 30, 1999 ("Sublease Term"). Tenant shall be responsible for entering into a sublease agreement with said subtenant and Landlord shall issue its standard Consent to Sublease form which shall be executed by Landlord, Tenant and the subtenant. Said sublease entered into between Tenant and subtenant shall provide for the subtenant to issue payments due under the sublease directly to Landlord during the Sublease Term and Landlord shall make reasonable efforts to collect the amounts due from the subtenant. Said a...
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Related to Proposed Sublet Premises

  • Subleased Premises Sublandlord does hereby sublease to Subtenant, and Subtenant subleases and rents from Sublandlord, the Premises (the “Subleased Premises”).

  • Sublease Premises On and subject to the terms and conditions below, Sublandlord hereby leases to Subtenant, and Subtenant hereby leases from Sublandlord, the Sublease Premises.

  • Adjacent Premises If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.

  • Sublease Sublandlord hereby subleases to Subtenant and Subtenant hereby subleases from Sublandlord for the term, at the rental, and upon all of the conditions set forth herein, the Subleased Premises.

  • Leased Premises Lessor hereby leases to Lessee, and Lessee leases and takes from Lessor, the Leased Premises subject to the conditions of this Lease.

  • Vacating Premises (i) If the Assuming Institution elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Institution’s occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Institution’s notice not to exercise such option. The Assuming Institution shall be responsible for promptly relinquishing and releasing to the Receiver such premises and the Fixtures, Furniture and Equipment located thereon which existed at the time of the Bank Closing Date, in the same condition as at the Bank Closing Date and at the premises where they were inventoried at the Bank Closing Date, normal wear and tear excepted. Any of the aforementioned which is missing will be charged to the Assuming Institution at the item’s Fair Market Value as determined in accordance with this Agreement. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Institution shall, at the Receiver’s option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Fixtures, Furniture and Equipment owned by the Failed Bank and located on such premises as of the Bank Closing Date.

  • Rentable Area of the Premises The term "Rentable Area of the Premises" shall mean 7,000 square feet, which Landlord and Tenant have stipulated as the Rentable Area of the Premises. Tenant acknowledges that the Rentable Area of the Premises includes the usable area of the premises, without deduction for columns or projections, multiplied by a load factor to reflect a share of certain areas, which may include lobbies, corridors, mechanical, utility, janitorial, boiler and service rooms and closets, restrooms and other public, common and service areas of the Building.

  • Demised Premises 1.1 Landlord hereby leases to Tenant and Tenant hereby leases from Landlord for the term and upon the terms, conditions, covenants and agreements hereinafter provided, the Premises. The Premises consist of space which: (i) is located on the floor or floors of the Building as is specified in Item B(1) of the Basic Lease Provisions, (ii) is located in one or more areas or parts of each such floor, and (iii) is bounded by the proposed or existing demising walls therefor, the approximate locations of such demising walls and space being marked in color or crosshatched and shown on the diagram(s) of the floor plan for each such floor, such diagram(s) being attached to this Lease as Exhibit A and made a part hereof. The Premises is to be known and called by the Suite Number or Numbers specified in Item B(1) of the Basic Lease Provisions. The appropriate number of rentable square feet contained in the Premises, as determined by Landlord, for identification purposes only, is specified in Item B(1) of the Basic Lease Provisions (the "Rentable Area"). The lease of the Premises includes the right, together with other tenants of the Building and members of the public, to use the common public areas of the Building, but includes no other rights not specifically set forth herein. Landlord shall finish the Premises as set forth in Exhibit B attached hereto and made a part hereof. It is understood and agreed that Landlord will not make and is under no obligation to make, any alterations, decorations, additions or improvements in or to the Premises, structural or otherwise, except as set forth in Exhibit B. Landlord agrees to deliver possession of the Premises to Tenant and Tenant agrees to accept the same from Landlord, upon written notice from Landlord to Tenant, that Landlord's work in the Premises described in Exhibit B has been substantially completed.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of Article 3 of the Lease.

  • Premises A. The Company has received valuable services from Optionee in the past and desires to compensate Optionee for these services by issuing Optionee an option (the "Option") to purchase a total of One Hundred Million (100,000,000), shares of the Company's common stock with an option price of 85% of market price per share on the date of exercise under the existing benefit plan at time of grant, which shares have been issued pursuant to a Form S-8 under the Securities Act of 1933 as amended ("Form S-8").

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