Common use of Relocation or Sublease Clause in Contracts

Relocation or Sublease. Upon prior written notice, Lessee may relocate the Equipment to any location within the continental United States provided (i) the Equipment will not be used by an entity exempt from federal income tax, (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by Lessee. Lessee may sublease the Equipment upon the reasonable consent of the Lessor and the Secured Party and provided Lessee meets the requirements under (i) and (ii) above. No relocation or sublease will relieve Lessee from any of its obligations under this Master Lease and the applicable Schedule.

Appears in 2 contracts

Samples: Master Lease Agreement (Neotherapeutics Inc), Master Lease Agreement (Myriad Genetics Inc)

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Relocation or Sublease. Upon prior written notice, Lessee may relocate the Equipment to any location within the continental United States provided (i) the Equipment will not be used by an any entity exempt from federal income tax, (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by Lessee. Lessee may sublease the Equipment upon the reasonable consent of the Lessor and the Secured Party party and provided Lessee meets the requirements under (i) and (ii) above. No relocation or sublease will relieve Lessee from any of its obligations under this Master Lease and the applicable ScheduleSchedules.

Appears in 1 contract

Samples: Master Lease Agreement (Guilford Pharmaceuticals Inc)

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Relocation or Sublease. Upon prior written notice, Lessee may relocate the Equipment to any location within the continental United States provided (i) the Equipment will not be used by an entity exempt from federal income tax, (ii) all additional costs (including any administrative fees, additional taxes and insurance coverage) are reconciled and promptly paid by Lessee. Lessee may sublease the Equipment upon the reasonable consent of the Lessor and the Secured Party and provided Lessee meets the requirements under (i) and (ii) aboveParty. No relocation or sublease will relieve Lessee from any of its obligations under this Master Lease and the applicable relevant Schedule.

Appears in 1 contract

Samples: Master Lease Agreement (Alpha Beta Technology Inc)

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