Common use of Relationship to Prime Lease Clause in Contracts

Relationship to Prime Lease. Sublessee hereby assumes and agrees to perform all obligations of Sublessor as tenant under the Prime Lease to the extent and only to the extent the same relate to the Space, and Sublessee agrees to abide by and comply with all of the provisions of the Prime Lease during the Term of this Sublease, as the same relate to the Space, except that: (i) the payment of rent by Sublessee will be replaced by the provisions of paragraph 3 of this Sublease; (ii) Sublessee shall not have any right to renew or extend the term of the Lease or expand the Leased Premises granted to Sublessor in the Prime Lease, all parties hereby agreeing that such rights shall be exclusive to Sublessor; (iii) the value of the general commercial liability insurance policy required to be maintained by Sublessee will be as provided in paragraph 11 of this Sublease, and (iv) Sublessee shall not have any right to any “Extension Allowance”, tenant improvement allowance, any payments due under any Profits Interest Agreement between Sublessor and Landlord, or any other type of incentive or inducement granted to Sublessor as tenant under the Prime Lease. Except as otherwise specifically set forth in this Sublease, Sublessor expressly retains and reserves all rights and benefits applicable to Sublessor as tenant under the Prime Lease and any Profits Interest Agreement.

Appears in 2 contracts

Samples: Sublease Agreement (Furiex Pharmaceuticals, Inc.), Sublease Agreement (Furiex Pharmaceuticals, Inc.)

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Relationship to Prime Lease. Sublessee hereby assumes This Sublease and agrees all of Subtenant's rights hereunder are expressly subject to perform all obligations of Sublessor as tenant under the Prime Lease and subordinate to the extent and only to the extent the same relate to the Space, and Sublessee agrees to abide by and comply with all of the provisions terms of the Prime Lease. Subtenant hereby acknowledges that it has received a copy of the Prime Lease during and has read all of the Term terms and conditions thereof. Sublandlord shall provide to Subtenant copies of this Subleaseall modifications or amendments to the Prime Lease which in any manner affect Subtenant's obligations hereunder. Subtenant hereby agrees to and does assume all obligations of Sublandlord, as the same relate to the Space, except that: (i) the payment of rent by Sublessee will be replaced by the provisions of paragraph 3 of this Sublease; (ii) Sublessee shall not have any right to renew or extend the term of the Lease or expand the Leased Premises granted to Sublessor in Lessee under the Prime Lease, with respect to the Subleased Premises. All of the terms and conditions of the Prime Lease are hereby incorporated into this Sublease by reference as if fully set forth herein, except for Article 18 and all parties hereby agreeing provisions relating to the "Vacant Land", as therein defined, and except that such rights "LESSOR" shall be exclusive read as "Sublandlord" and "LESSEE" shall be read as "Subtenant"; provided, however, that Subtenant hereby acknowledges that Subtenant shall look solely to Sublessor; (iii) Sublandlord for the value performance of the general commercial liability insurance policy required to be maintained by Sublessee will be as provided in paragraph 11 of this Sublease, and (iv) Sublessee shall not have any right to any “Extension Allowance”, tenant improvement allowance, any payments due under any Profits Interest Agreement between Sublessor and Landlord, or any other type of incentive or inducement granted to Sublessor as tenant under all the Prime Lease. Except as otherwise specifically set forth in this Sublease, Sublessor expressly retains and reserves all rights and benefits applicable to Sublessor as tenant Landlord's obligations under the Prime Lease and any Profits Interest Agreementthat Sublandlord shall not be obligated with respect to such obligations unless the same are fulfilled by the Prime Landlord under the Prime Lease.

Appears in 2 contracts

Samples: Sublease Agreement (Choicepoint Inc), Sublease Agreement (Choicepoint Inc)

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