Relationship With Landlord. Tenant hereby assigns and transfers to Landlord (strictly as security for Tenant's obligations under the Lease, and which shall not be construed as amending Section 14.3 of the Lease) the Tenant's interest in the Sublease and all rentals and income arising therefrom, subject to the terms of this Section 3. Landlord, by consenting to the Sublease agrees that until a default shall occur in the performance of Tenant's obligations under the Lease, Tenant may receive, collect and enjoy the rents accruing under the Sublease, subject to Landlord's right to receive the Transfer Premium pursuant to Section 14.3 of the Lease. In the event Tenant shall default in the performance of its obligations to Landlord under Section 19.1 of the Lease (and Landlord terminates the Lease), Landlord may, in connection with Section 19.4 of the Lease, at its option by notice to Tenant, either (i) terminate the Sublease, (ii) elect to receive and collect, directly from Subtenant, all rent and any other sums owing and to be owed under the Sublease, as further set forth in Section 3.1, below, or (iii) elect to succeed to Tenant's interest in the Sublease and cause Subtenant to attorn to Landlord, as further set forth in Section 3.2, below.
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Samples: Office Lease (Websense Inc)
Relationship With Landlord. Tenant hereby assigns and transfers to Landlord (strictly as security for Tenant's obligations under the Lease, and which shall not be construed as amending Section 14.3 of the Lease) the Tenant's ’s interest in the Sublease and all rentals and income arising therefrom, subject to the terms of this Section 34. Landlord, by consenting to the Sublease agrees that until the earlier of (a) the occurrence of a default shall occur in the performance of Tenant's ’s obligations under the LeaseLease which remains uncured beyond any applicable notice and cure period, or (b) the occurrence of a Recurring Rent Default (defined below), Tenant may receive, collect and enjoy the rents accruing under the Sublease, subject to Landlord's right to receive the Transfer Premium pursuant to Section 14.3 of the Lease. In the event Tenant shall default in the performance of its obligations to Landlord under Section 19.1 of the Lease (and whether or not Landlord terminates the Lease), which default remains uncured beyond any applicable notice and cure period, Landlord may, in connection with Section 19.4 of the Lease, may at its option by notice to Tenant, either (i) terminate the Sublease, (ii) elect to receive and collect, directly from Subtenant, all rent and any other sums owing and to be owed under the Sublease, as further set forth in Section 3.14.1, below, or (iii) elect to succeed to Tenant's ’s interest in the Sublease and cause Subtenant to attorn to Landlord, as further set forth in Section 3.24.2, below. Additionally, in the event a Recurring Rent Default occurs, Landlord may at its option by notice to Tenant, elect to receive and collect, directly from Subtenant, all rent and any other sums owing and to be owed under the Sublease, as further set forth in Section 4.1, below. As used herein, a “Recurring Rent Default” shall mean and refer to Tenant’s failure to pay minimum rental, operating expenses or any other sum payable under the Lease on or before the due date thereof on three (3) or more occasions during any twelve (12) consecutive month period.
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Relationship With Landlord. Tenant Sublandlord hereby assigns and transfers to Landlord (strictly as security for Tenant's obligations under the Lease, and which shall not be construed as amending Section 14.3 of the Lease) the Tenant's Sublandlord’s interest in the Sublease and all rentals and income arising therefrom, subject to the terms of this Section 3. Landlord, by consenting to the Sublease agrees that until a default an Event of Default shall occur in the performance of Tenant's Sublandlord’s obligations under the Lease, Tenant Sublandlord may receive, collect and enjoy the rents accruing under the Sublease, subject to Landlord's right to receive the Transfer Premium pursuant to Section 14.3 . If there is an Event of the Lease. In the event Tenant shall default Default by Sublandlord in the performance of its obligations to Landlord under Section 19.1 of the Lease (and Landlord terminates the Lease), then Landlord may, in connection with Section 19.4 of the Lease, at its option by notice to TenantSublandlord, either (ia) terminate the Lease and the Sublease, (iib) during the continuance of such Event of Default, elect to receive and collect, directly from Subtenant, all rent and any other sums owing and to be owed under the Sublease, as further set forth in Section 3.1, 3.1 below, or (iiic) terminate the Lease and elect to succeed to Tenant's Sublandlord’s interest in the Sublease and cause Subtenant to attorn to Landlord, as further set forth in Section 3.2, 3.2 below.. /s/ RG /s/ CW /s/MK Initial Initial Initial
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Relationship With Landlord. Tenant hereby assigns and transfers to Landlord (strictly as security for Tenant's obligations under the Lease, and which shall not be construed as amending Section 14.3 of the Lease) the Tenant's interest in the Sublease and all rentals and income arising therefrom, subject to the terms of this Section SECTION 3. Landlord, by consenting to the Sublease agrees that until a default shall occur in the performance of Tenant's obligations under the Lease, Tenant may receive, collect and enjoy the rents accruing under the Sublease, subject to Landlord's right to receive the Transfer Premium pursuant to Section 14.3 of the Lease. In the event Tenant shall default in the performance of its obligations to Landlord under Section SECTION 19.1 of the Lease (and whether or not Landlord terminates the Lease), however, Landlord may, in connection with Section 19.4 SECTION 19.3 of the Lease, at its option by notice to Tenant, either (i) terminate the Sublease, (ii) elect to receive and collect, directly from Subtenant, all rent and any other sums owing and to be owed under the Sublease, as further set forth in Section SECTION 3.1, below, or (iii) elect to succeed to ---------------------- * PORTIONS OF THIS PAGE HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. Tenant's interest in the Sublease and cause Subtenant to attorn to Landlord, as further set forth in Section SECTION 3.2, below.
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Samples: Sublease (Specialty Laboratories)
Relationship With Landlord. Tenant hereby assigns and transfers to -------------------------- Landlord (strictly as security for Tenant's obligations under the Lease, and which shall not be construed as amending Section 14.3 of the Lease) the Tenant's interest in the Sublease and all rentals and income arising therefrom, subject to the terms of this Section 3. Landlord, by --------- consenting to the Sublease agrees that until a default shall occur in the performance of Tenant's obligations under the Lease, Tenant may receive, collect and enjoy the rents accruing under the Sublease, subject to Landlord's right to receive the Transfer Premium pursuant to Section 14.3 of the Lease. In the event Tenant shall default in the performance of its obligations to Landlord under Section 19.1 11.1 of ------------ the Lease (and whether or not Landlord terminates the Lease), subject to the terms of that certain Agreement of Non-Disturbance and Attornment (the "Recognition Agreement"), dated as of the date hereof, between Landlord and Subtenant, Landlord may, in connection with Section 19.4 of the Lease, at its option by notice to Tenant, either (i) terminate the the. Sublease, (ii) elect to receive and collect, directly from Subtenant, all rent and any other sums owing and to be owed under the Sublease, as further set forth in Section 3.14, below, or (iii) elect to succeed to Tenant's interest in the --------- Sublease and cause Subtenant to attorn to Landlord, as further set forth in the Recognition Agreement. Nothing in the preceding election shall diminish or alter Subtenant's non-disturbance protections set forth in Section 3.2, belowI of the Recognition Agreement.
Appears in 1 contract
Samples: Consent to Sublease Agreement (Keith Companies Inc)