Provisions of Subleases. Each Sublease will: (a) be expressly subject and subordinate to this Lease and any mortgage (including (the Mortgage) encumbering the Property; (b) not extend beyond the Lease Term minus one day; and (c) terminate upon any termination of this Lease, unless Lessor elects in writing (which election must be consented to by the Lender), to cause the sublessee to attorn to and recognize Lessor as the lessor under such Sublease, whereupon such Sublease shall continue as a direct lease between the sublessee and Lessor upon all the terms and conditions of such Sublease (it being agreed that all Subleases with Affiliates of Lessee shall automatically terminate upon termination of this Lease).
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Samples: Lease Agreement (Cost Plus Inc/Ca/), Lease Agreement (Cost Plus Inc/Ca/)
Provisions of Subleases. Each Sublease will:
(a) be expressly subject and subordinate to this Lease and any mortgage (including (the Mortgage) encumbering the Property;
(b) not extend beyond the Lease Term minus one day; and
(c) terminate upon any termination of this Lease, unless Lessor elects in writing (which election must be consented to by the Lender), to cause the sublessee to attorn to and recognize Lessor as the lessor Lessor under such Sublease, whereupon such Sublease shall continue as a direct lease between the sublessee and Lessor upon all the terms and conditions of such Sublease (it being agreed that all Subleases with Affiliates of Lessee shall automatically terminate upon termination of this Lease).
Appears in 1 contract
Provisions of Subleases. Each Sublease will:
(a) be expressly subject and subordinate to this Lease and any mortgage (including (the Mortgage) encumbering the Property;
(b) not extend beyond the Lease Term minus one (1) day; and
(c) terminate upon any termination of this Lease, unless Lessor elects in writing (which election must be consented to by the Lender), to cause the sublessee to attorn to and recognize Lessor as the lessor under such Sublease, whereupon such Sublease shall continue as a direct lease between the sublessee and Lessor upon all the terms and conditions of such Sublease (it being agreed that all Subleases with Affiliates of Lessee shall automatically terminate upon termination of this Lease).
Appears in 1 contract
Samples: Lease Agreement (Cost Plus Inc/Ca/)
Provisions of Subleases. Each Sublease will:
(a) be expressly subject and subordinate to this Lease and any mortgage (including (the Mortgage) encumbering the Property;
(b) not extend beyond the Lease Term minus one day; and
(c) terminate upon any termination of this Lease, unless Lessor elects in writing (which election must be consented to by the Lender), to cause the sublessee to attorn to and recognize Lessor as the lessor under such Sublease, whereupon such Sublease shall continue as a direct lease between the sublessee and Lessor upon all the terms and conditions of such Sublease (it being agreed that all Subleases with Affiliates of Lessee shall automatically terminate upon termination of this Lease).
Appears in 1 contract
Samples: Purchase and Sale Agreement (Inland Western Retail Real Estate Trust Inc)