Real Estate Subleases Clause Samples
A Real Estate Subleases clause governs the conditions under which a tenant may lease all or part of their rented property to another party, known as a subtenant. Typically, this clause outlines requirements such as obtaining the landlord’s written consent, ensuring the subtenant abides by the original lease terms, and specifying any limitations on the duration or use of the subleased space. Its core function is to provide a clear framework for subleasing arrangements, protecting the interests of both the landlord and the original tenant while preventing unauthorized or undesirable occupants.
Real Estate Subleases. Each of Dell and VMware shall use reasonable best efforts to negotiate diligently and in good faith to enter into sub-leases (or amend existing subleases, as applicable) prior to the Separation Date on terms to be agreed by the Parties for each of the facilities set forth on Schedule 6.11.
Real Estate Subleases. The applicable Seller or Seller affiliate shall execute and deliver to the Purchaser the Subleases substantially in the form attached hereto as Exhibit E (the “Subleases”).
Real Estate Subleases. The Purchaser shall execute and deliver to the Sellers the Subleases.
Real Estate Subleases. Seller is currently a sublessee of Jondex Corp. (an affiliate of Buyer) under two subleases relating to the New Berlin and Oconomowoc-Olympia Stores (the "Store Subleases") and a lessee of an affiliate of Seller, ▇▇▇▇▇▇▇ Realty (the "Seller Affiliate") under five leases (the "Seller Affiliate Leases") for the remaining Stores. At the Closing, ▇▇▇▇▇▇'▇ will cause Jondex Corp. to terminate the Store Subleases and release Seller and the Shareholders from any further liability under the Store Subleases (to the extent such liability and costs relate to periods following the Effective Time and/or as otherwise provided in the "Sublease Termination" described below), and Seller will relinquish its rights under the Store Subleases and release Jondex Corp. and ▇▇▇▇▇▇'▇ from any further liability thereunder, pursuant to and as provided in a Sublease Termination in the form attached as Exhibit 1(e) hereto (the "Sublease Termination"). Rent, percentage rent, tenant's shares of real estate taxes, common area aintenance expenses and other payments payable by Seller under the Store Subleases shall be prorated as of the Effective Time based on actual amounts incurred or assessed for the year 2003. With respect to time periods between December 31, 2003 and the Closing Date, such prorations will be determined on the basis of actual amounts incurred or assessed for the year 2003, and will not be adjusted after the Closing Date to reflect actual amounts incurred or assessed for periods after December 31, 2003.