Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that: (a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents; (b) the use of the applicable Store (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease; (c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises or assign this Master Lease or its Sublease or otherwise Transfer any interest in any of the foregoing; (d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to the effect (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into prior to the Commencement Date) that (A) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a part, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to Tenant.
Appears in 4 contracts
Samples: Master Lease (Seritage Growth Properties), Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties)
Required Assignment and Subletting Provisions. Any permitted assignment and/or sublease (excluding a Specified Sublease entered into after until such Specified Sublease is amended or modified, in which case such amendment or modification shall incorporate the Commencement Date requirements of Section 22.4) must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Xxxxxxxx and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Xxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 4 contracts
Samples: Master Lease (Caesars Entertainment, Inc.), Master Lease (Eldorado Resorts, Inc.), Master Lease (Eldorado Resorts, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its sublease hold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Xxxxxxxx and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Xxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 3 contracts
Samples: Master Lease (Gaming & Leisure Properties, Inc.), Master Lease (PENN Entertainment, Inc.), Master Lease (PENN Entertainment, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Xxxxxxxx and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Xxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 3 contracts
Samples: Master Lease (PNK Entertainment, Inc.), Master Lease (Gaming & Leisure Properties, Inc.), Master Lease (PNK Entertainment, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the this Master Lease is not terminated with respect has been cancelled, surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 3 contracts
Samples: Merger Agreement (PNK Entertainment, Inc.), Merger Agreement (Pinnacle Entertainment Inc.), Merger Agreement (Gaming & Leisure Properties, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;,
(b) the use of the applicable Store (or portion thereof) Leased Property shall be restricted to the uses and purposes expressly permitted by this Lease and shall not conflict with any Legal Requirement, Insurance Requirement or any other provision of this Master Lease;,
(c) except as otherwise provided herein, no subtenant Subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease or otherwise Transfer any interest sublease except as expressly provided in any of the foregoing;this Lease,
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to event of cancellation or termination of this Lease for any reason whatsoever or of the effect surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such Sublease, including extensions and renewals granted thereunder, then, at Landlord's option, the Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the Subtenant shall execute and deliver within five (5) that days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease, and
(Ae) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant Subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Tenant is in Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partunder this Lease, the subtenant Subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord or as such party may direct, without any action of or any liability to Tenant; all rentals received from the Subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease.
Appears in 3 contracts
Samples: Master Lease Agreement (Vornado Operating Co), Master Lease Agreement (Vornado Operating Co), Master Lease Agreement (Vornado Operating Co)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master LeaseLease and any restrictions on Tenant’s activities at the relevant Facility shall also similarly apply to any sublessee’s activities at the relevant Facility;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Facility or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits Equity Interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which the subtenant shall execute and deliver within thirty (30) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice Notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Xxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partsurrendered or terminated, then, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to Landlord (or as Landlord shall so direct); all rentals received from the party giving such noticesubtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease. Without limitation of the foregoing, (x) any sublease or other agreement or arrangement (including any Operating Sublease) allowing for occupancy or management with respect to a Facility entered into by and between any Tenant Party(ies) and any Affiliate(s) thereof on, prior to, or as after the Commencement Date shall be subject and subordinate to all of the terms and conditions of this Master Lease, and each such party may directagreement or arrangement hereafter made shall expressly so provide, without and (y) no Operating Subtenant shall be permitted to assign its Operating Sublease other than to a Subsidiary of Tenant’s Parent and any action such Operating Subtenant shall at all times remain a Subsidiary of or any liability to Tenant’s Parent (it being understood that nothing in this clause (y) shall vitiate Tenant’s rights under Section 22 hereof).
Appears in 3 contracts
Samples: Master Lease (MGM Resorts International), Master Lease (VICI Properties L.P.), Master Lease (MGM Resorts International)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease, including a Successor Specified Sublease, must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the this Master Lease is not terminated with respect has been cancelled, surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 2 contracts
Samples: Master Lease (Boyd Gaming Corp), Master Lease (Gaming & Leisure Properties, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after sublease (including, but not limited to, any rights granted by Tenant or any of its Subsidiaries pursuant to a dark fiber agreement, a dim fiber agreement or a collocation agreement) must meet the Commencement Date must provide in the assignment or Sublease document thatfollowing conditions:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease;
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the this Master Lease is not terminated with respect has been cancelled, surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action ); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease; and
(vi) the term of or any liability to Tenantthe sublease shall expire no later than the day preceding the expiration date of the then current Term.
Appears in 2 contracts
Samples: Master Lease (Windstream Services, LLC), Master Lease (Communications Sales & Leasing, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(a) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(b) the use of the applicable Store Leased Property (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Lease (it being understood that (i) any subtenant under Section 22.3 may pledge and mortgage its subleasehold estate (or otherwise Transfer allow the pledge of its equity interests) to a Permitted Leasehold Mortgagee and (ii) any interest in any Permitted Leasehold Mortgagee of a subtenant may foreclose on the foregoingPermitted Leasehold Mortgage granted by subtenant without restriction);
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI and without affecting the provisions of any recognition, non-disturbance and attornment agreement entered into between Landlord and the applicable subtenant, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; and
(Ae) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Lease has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease.
Appears in 2 contracts
Samples: Ground Lease (Bally's Chicago, Inc.), Ground Lease (Bally's Chicago, Inc.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Lease and Landlord’s Loan Documents;,
(b) the use of the applicable Store (or portion thereof) Leased Property shall not conflict with any Legal Requirement Requirement, Property Document or any other provision of this Master Lease;Insurance Requirement,
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises or assign this Master Lease or its Sublease or otherwise Transfer any interest in any except insofar as the same would be permitted under this Lease if it were by Tenant of the foregoing;this Lease,
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to event of cancellation or termination of this Lease for any reason whatsoever or of the effect surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Date) that (A) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration date of such Sublease, including extensions and renewals granted thereunder, then, at Landlord’s option (unless otherwise provided in a recognition agreement between Landlord and such Subtenant), the Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the Subtenant shall execute and deliver within five (5) days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; provided that such agreement to attorn by Subtenant may be conditioned on Landlord’s execution and delivery of the premises under the Sublease a nondisturbance agreement in favor of Subtenant in form and substance reasonably satisfactory to Landlord or as directed by and otherwise in accordance with prevailing commercial standards for the issuance of such agreements, and
(e) Tenant shall pay to Landlord, within ten (10) business days after request therefor, all reasonable out-of-pocket costs and (B) if the subtenant receives a written notice from expenses, including reasonable attorneys’ fees, incurred by Landlord in connection with any request made by Tenant to Landlord to assign this Lease or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a part, the subtenant shall thereafter attorn to sublet the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to TenantLeased Property.
Appears in 2 contracts
Samples: Master Lease Agreement (Toys R Us Property Co II, LLC), Master Lease Agreement (Toys R Us Property Co II, LLC)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after sublease (including, but not limited to, any rights granted by Tenant or any of its Subsidiaries pursuant to a dark fiber agreement, a dim fiber agreement or a collocation agreement) must meet the Commencement Date must provide in the assignment or Sublease document thatfollowing conditions:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord's option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease;
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the this Master Lease is not terminated with respect has been cancelled, surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action ); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease; and
(vi) the term of or any liability to Tenantthe sublease shall expire no later than the day preceding the expiration date of the then current Term.
Appears in 1 contract
Samples: Master Lease
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(b) the use of the applicable Store Bank Branch (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Property or assign this Master Lease or its Sublease or otherwise Transfer any interest in any of the foregoing;
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to the effect (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into prior to the Commencement Date) that (A) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by LandlordLandxxxx, and xxd (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a part, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to Tenant.
Appears in 1 contract
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after sublease permitted under this Article XIII must meet the Commencement Date must provide in the assignment or Sublease document thatfollowing conditions:
(a) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(b) the use of the applicable Store Leased Assets (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Assets or assign this Master Lease or its Sublease or otherwise Transfer any interest in any of sublease except insofar as the foregoingsame would be permitted if it were a sublease by Tenant under this Master Lease;
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into event of cancellation, surrender or termination of this Master Lease for any reason whatsoever prior to the Commencement Date) that (A) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration date of such Subleasesublease, the Sublease shall automatically terminate without further notice or action of any kind including extensions and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlordrenewals granted thereunder, and (B) if the subtenant receives a written notice from Landlord or then, at Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partoption, the subtenant shall thereafter attorn make full and complete attornment to Landlord for the applicable party balance of the term of the sublease, which attornment shall be evidenced by a commercially reasonable attornment agreement acceptable to Landlord and be obligated to which the subtenant shall execute and shall pay all rentals and all other sums and charges accruing under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to Tenant.deliver within fifteen
Appears in 1 contract
Samples: Master Lease
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master LeaseLease and any restrictions on Tenant’s activities at the relevant Facility shall also similarly apply to any sublessee’s activities at the relevant Facility;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Facility or assign its sublease except to a party that is not an Affiliate of Tenant and insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease or its Sublease or otherwise Transfer any interest in any of the foregoingLease;
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, at Landlord’s option and subject to subtenant’s right of non-disturbance pursuant to Section 22.3(c) that above, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which the subtenant shall execute and deliver within twenty (A20) days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; and
(v) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice Notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Lease has occurredbeen cancelled, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partsurrendered or terminated, then, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease. For the avoidance of doubt, without any action nothing in this Article XXII shall limit the rights of or any liability subtenants to Tenantnon-disturbance as specifically provided in Section 22.3(c) of this Lease.
Appears in 1 contract
Samples: Master Lease (MGM Growth Properties Operating Partnership LP)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease, including a Successor Specified Sublease, must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Lxxxxxxx and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Lxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 1 contract
Samples: Master Lease (Boyd Gaming Corp)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(ai) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Lease and Landlord’s Loan Documents;,
(bii) the use of the applicable Store (or portion thereof) Leased Property shall not conflict with any Legal Requirement, Property Document, Insurance Requirement or any other provision of this Master Lease;,
(ciii) except as otherwise provided herein, no subtenant Subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Lease,
(iv) in the event of cancellation or otherwise Transfer termination of this Lease for any interest in any reason whatsoever or of the foregoing;
surrender of this Lease (dwhether voluntary, involuntary or by operation of law) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to the effect (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into prior to the Commencement Dateexpiration date of such Sublease, including extensions and renewals granted thereunder, then, at Landlord’s option, the Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the Subtenant shall execute and deliver within five (5) that days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease, and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant Subtenant receives a written notice from Landlord stating that this Lease has been cancelled, surrendered or terminated, the Subtenant shall thereafter be obligated to pay all rentals accruing under said sublease directly to Landlord (or Landlord’s assignees, Lender if any, stating that an Event of Default has occurred, Landlord shall so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a part, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay direct); all rentals and all other sums and charges accruing received from the Subtenant by Landlord shall be credited against the amounts owing by Tenant under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to Tenantthis Lease.
Appears in 1 contract
Samples: Master Lease Agreement (Cheeseburger-Ohio, Limited Partnership)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(ai) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant Subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a Sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such Sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the Subtenant shall execute and deliver within five (5) that days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant Subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurredthis Master Lexxx xas been cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant Subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the Subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 1 contract
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master LeaseLease and any restrictions on Tenant’s activities at the relevant Facility shall also similarly apply to any sublessee’s activities at the relevant Facility;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Facility or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits Equity Interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which the subtenant shall execute and deliver within thirty (30) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice Notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Xxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partsurrendered or terminated, then, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to Landlord (or as Landlord shall so direct); all rentals received from the party giving such noticesubtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease. Without limitation of the foregoing, (x) any sublease or other agreement or arrangement (including any Operating Sublease) allowing for occupancy or management with respect to a Facility entered into by and between any Tenant Party(ies) and any Affiliate(s) thereof on, prior to, or as after the Commencement Date shall be subject and subordinate to all of the terms and conditions of this Master Lease, and each such party may directagreement or arrangement hereafter made shall expressly so provide, without and (y) no Operating Subtenant shall be permitted to assign its Operating Sublease other than to a Subsidiary of Tenant’s Parent and any action such Operating Subtenant shall at all times remain a Subsidiary of or any liability to Tenant.’s Parent (it being understood that nothing in this clause (y) shall vitiate Tenant’s rights under Section 22 hereof)
Appears in 1 contract
Samples: Master Lease (VICI Properties L.P.)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its sublease hold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Master Lease for any reason whatsoever or of the surrender of this Master Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at ACTIVE/119970514.22 Xxxxxxxx’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Master Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Master Xxxxx has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Master Lease.
Appears in 1 contract
Required Assignment and Subletting Provisions. Any permitted In addition to complying with all Gaming Regulations, any assignment and/or Sublease entered into after the Commencement Date sublease must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease sublease except insofar as the same would be permitted if it were a sublease by Tenant under this Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or otherwise Transfer any interest in any allow the pledge of the foregoingits equity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Lxxxxxxx and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Lease has occurredbeen cancelled, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partsurrendered or terminated, then, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease.
Appears in 1 contract
Samples: Lease (Penn National Gaming Inc)
Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into on or after the Commencement Date must provide in the assignment or Sublease document that:
(a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Lease and the lien of Landlord’s Loan Documents;,
(b) the use of the applicable Store (or portion thereof) Leased Property shall not conflict with Landlord’s Loan Documents, any Legal Requirement, Property Document, Insurance Requirement or any other provision of this Master Lease;,
(c) except as otherwise provided herein, no subtenant Subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign this Master Lease or its Sublease or otherwise Transfer any interest in any of sublease except insofar as the foregoing;same would be permitted if it were a sublease by Tenant under this Lease,
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to event of cancellation or termination of this Lease for any reason whatsoever or of the effect surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such Sublease, including extensions and renewals granted thereunder, then, at Landlord’s option, the Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the Subtenant shall execute and deliver within thirty (30) that days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease, and
(Ae) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant Subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partexists under this Lease, the subtenant Subtenant shall thereafter attorn to during the applicable party and continuance of an Event of Default be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease directly to Landlord (or Landlord’s Lender if Landlord shall so direct); all rentals received from the Subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease.
(f) If the Sublease shall relate to the Ground Leased Property, the Sublease shall be subject and subordinate to all of the terms and conditions of the Ground Lease; and Subtenant shall agree, in the Sublease, not to do, or fail to do, anything that would cause any violation of the Ground Lease. Without limiting the foregoing, (i) to the extent Landlord or Tenant is required to obtain Ground Lessor’s written consent to alterations of or the subleasing of all or any portion of the Ground Leased Property or the assignment of the Sublease, Subtenant shall likewise obtain Ground Lessor’s written consent to alterations of or the subleasing of all or any portion of the Ground Leased Property or the assignment of the Sublease, and (ii) Subtenant shall carry and maintain general liability, automobile liability, property and casualty, worker’s compensation and employer’s liability insurance in amounts and with policy provisions, coverages and certificates as required of Landlord as tenant under the Ground Lease.
(g) If the Sublease shall relate to any portion of the Ground Leased Property, in the event of cancellation or termination of the Ground Lease and this Lease for any reason whatsoever whether voluntary or involuntary (by operation of law or otherwise) prior to the expiration date of the Sublease, including extensions and renewals granted thereunder, then, at Ground Lessor’s option, the Subtenant shall make full and complete attornment to Ground Lessor with respect to the obligations of Landlord to Ground Lessor in connection with that portion of the subleased property theretofore covered by the Ground Lease for the balance of the term of the Sublease (notwithstanding that the term of the Sublease shall have terminated with the cancellation or termination of this Lease). Subtenant’s attornment shall be evidenced by a written agreement which shall provide that the Subtenant is in direct privity of contract with Ground Lessor (i.e. that all obligations owed to Tenant under the Sublease with respect to the Ground Leased Property shall be obligations owed to Ground Lessor for the balance of the term of the Sublease, notwithstanding that the term of the Sublease shall have terminated with the cancellation or termination of this Lease) and which shall otherwise be in form and substance reasonably satisfactory to Ground Lessor. Subtenant’s written attornment shall be executed and delivered within thirty (30) days after request by Ground Lessor. Unless and until such time as an attornment agreement is executed by Subtenant pursuant to the provision required by this subsection, nothing contained in the Sublease shall create, or be construed as creating, any privity of contract or privity of estate between Ground Lessor and Subtenant. Similarly, if the Sublease shall relate to any portion of the Ground Leased Property, in the event Subtenant receives a written notice from any lessor under any master lease of any portion of the Ground Leased Property to Ground Lessor stating that an event of default has occurred or exists under such master lease, the Subtenant shall thereafter, during the continuance of such event of default, so long as the terms of the Sublease are recognized and honored, attorn to such master lessor and pay and perform all of Ground Lessor’s obligations pursuant to such master lease directly to or for such lessor under such master lease including, without limitation, the payment of rentals accruing under the Sublease directly to such lessor to the extent related to that portion of the Ground Leased Property subject to such master lease and the Ground Lessor’s obligations under such master lease directly to such lessor.
(h) If the Sublease shall relate to any portion of the Ground Leased Property, nothing contained in the Sublease shall amend, or be construed to amend, any provision of the Ground Lease.
(i) If the Sublease shall relate to any portion of the Ground Leased Property, Subtenant shall indemnify, defend and hold harmless the Ground Lessor, any master lessor to Ground Lessor and any other party entitled to be indemnified pursuant to the terms of the Ground Lease from and against any and all claims arising from Subtenant’s use of the Ground Leased Property, and from and against the conduct of Subtenant’s business thereon or from any other activity, work or thing done, permitted or suffered by Subtenant in, about or in respect of the Ground Leased Property, and from and against any and all claims arising from any breach or default in the performance of any obligation on Subtenant’s part to be performed under the terms of the Sublease relating to the Ground Leased Property, or arising from any act or omission of Subtenant or Subtenant’s agents, contractors, invitees, subtenants, customers or employees with respect to the Ground Leased Property, and from and against all costs, attorneys’ fees, expenses and liabilities incurred in the defense of any such claim or any action or proceeding brought thereon; and in case any action or proceeding be brought against the Ground Lessor or any master lessor to Ground Lessor or any such party by reason of any such claim, Subtenant, upon notice from Ground Lessor, any master lessor to Ground Lessor or any such party, shall defend the same at Subtenant’s expense by counsel satisfactory to the party giving or parties indemnified pursuant to the provision contemplated by this paragraph or the Ground Lease.
(j) If the Sublease shall relate to any portion of the Ground Leased Property, Subtenant shall waive any and all rights of recovery (including subrogation rights of its insurers) from Ground Lessor, its agents, principals, employees and representatives for any loss or damage, including consequential loss or damage, covered by any insurance policy maintained by Subtenant, whether or not such notice, or as such party may direct, without any action policy is required under the terms of or any liability to Tenantthe Ground Lease.
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Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into sublease made after the Commencement Effective Date must provide in the assignment or Sublease document that:
(a) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(b) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master LeaseLease and any restrictions on Tenant’s activities at the Facility shall also similarly apply to any sublessee’s activities at the Facility;
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Facility or assign its sublease except to a party that is not an Affiliate of Tenant and insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease or its Sublease or otherwise Transfer any interest in any of the foregoingLease;
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, at Landlord’s option and subject to subtenant’s right (if any) that of non-disturbance pursuant to Section 22.3(c), the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which the subtenant shall execute and deliver within twenty (A20) days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; and
(e) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice Notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Lease has occurredbeen cancelled, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a partsurrendered or terminated, then, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease. For the avoidance of doubt, without any action nothing in this Article XXII shall limit the rights (if any) of or any liability subtenants to Tenantnon-disturbance as specifically provided in Section 22.3(c).
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Required Assignment and Subletting Provisions. Any permitted assignment and/or Sublease entered into after the Commencement Date must provide in the assignment or Sublease document that:
(a) in the case of a Sublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;,
(b) the use of the applicable Store (or portion thereof) Leased Property shall not conflict with any Legal Requirement Requirement, Property Document or any other provision of this Master Lease;Insurance Requirement,
(c) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises or assign this Master Lease or its Sublease or otherwise Transfer any interest in any except insofar as the same would be permitted under this Lease if it were an assignment by Tenant of the foregoing;this Lease,
(d) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to event of cancellation or termination of this Lease for any reason whatsoever or of the effect surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Date) that (A) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration date of such Sublease, including extensions and renewals granted thereunder, then, at Landlord’s option (unless otherwise provided in a recognition agreement between Landlord and such Subtenant), the Subtenant shall make full and complete attornment to Landlord for the balance of the term of the Sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the Subtenant shall execute and deliver within five (5) days after request by Landlord and the Subtenant shall waive the provisions of any law now or hereafter in effect which may give the Subtenant any right of election to terminate the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; provided that such agreement to attorn by Subtenant may be conditioned on Landlord’s execution and delivery of the premises under the Sublease a nondisturbance agreement in favor of Subtenant in form and substance reasonably satisfactory to Landlord or as directed by Landlord, and (B) if otherwise in accordance with prevailing commercial standards for the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event issuance of Default has occurred, so long as the Master Lease is not terminated with respect to the Property of which the Sublease premises is a part, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease directly to the party giving such notice, or as such party may direct, without any action of or any liability to Tenantagreements.
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Samples: Master Lease Agreement (Toys R Us Property Co I, LLC)
Required Assignment and Subletting Provisions. Any permitted assignment and/or sublease (excluding a Specified Sublease entered into after until such Specified Sublease is amended or modified, in which case such amendment or modification shall incorporate the Commencement Date requirements of Section 22.4) must provide in the assignment or Sublease document that:
(ai) in the case of a Subleasesublease, it shall be subject and subordinate to all of the terms and conditions of this Master Lease, including any Landlord Mortgage Documents;
(bii) the use of the applicable Store Facility (or portion thereof) shall not conflict with any Legal Requirement or any other provision of this Master Lease, including the restrictions in Section 40.1, and any restrictions on Tenant’s activities at the Facility shall also similarly apply to any sublessee’s activities at the Facility;
(ciii) except as otherwise provided herein, no subtenant or assignee shall be permitted to further sublet all or any part of the applicable Demised Premises Leased Property or assign its sublease except to a party that is not an Affiliate of Tenant and insofar as the same would be permitted if it were a sublease by Tenant under this Master Lease (it being understood that any subtenant under Section 22.3(a) may pledge and mortgage its subleasehold estate (or allow the pledge of its Sublease or otherwise Transfer any interest in any of the foregoingequity interests) to a Permitted Leasehold Mortgagee);
(div) Tenant shall insert in each permitted Sublease entered into after the Commencement Date provisions to case of a sublease, in the effect event of cancellation or termination of this Lease for any reason whatsoever or of the surrender of this Lease (and shall advise all parties thereto in writing with respect to all permitted Subleases entered into whether voluntary, involuntary or by operation of law) prior to the Commencement Dateexpiration date of such sublease, including extensions and renewals granted thereunder, then, subject to Article XXXVI, at Landlord’s option, the subtenant shall make full and complete attornment to Landlord for the balance of the term of the sublease, which attornment shall be evidenced by an agreement in form and substance satisfactory to Landlord and which the subtenant shall execute and deliver within five (5) that days after request by Landlord and the subtenant shall waive the provisions of any law now or hereafter in effect which may give the subtenant any right of election to terminate the sublease or to surrender possession in the event any proceeding is brought by Landlord to terminate this Lease; and
(Av) in the event the Master Lease shall expire or otherwise terminate for any reason with respect to the Property of which the Sublease is a part before the expiration of such Sublease, the Sublease shall automatically terminate without further notice or action of any kind and the subtenant under the Sublease shall immediately surrender possession of the premises under the Sublease to Landlord or as directed by Landlord, and (B) if the subtenant receives a written notice from Landlord or Landlord’s assignees, if any, stating that an Event of Default this Lease has occurredbeen cancelled, so long as the Master Lease is not terminated with respect surrendered or terminated, then, subject to the Property of which the Sublease premises is a partArticle XXXVI, the subtenant shall thereafter attorn to the applicable party and be obligated to and shall pay all rentals and all other sums and charges accruing under said Sublease sublease directly to the party giving such notice, Landlord (or as such party may Landlord shall so direct, without any action of or any liability to Tenant); all rentals received from the subtenant by Landlord shall be credited against the amounts owing by Tenant under this Lease.
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