Common use of Tenant’s Right to Sublease Clause in Contracts

Tenant’s Right to Sublease. Landlord’s Right of First Refusal. Tenant shall have the right to sublet all or any portion or portions of Tenant’s Facility as hereinafter provided. In the event that Tenant proposes to sublet the Tenant’s Facility to an unaffiliated third party Subtenant (a “Proposed Subtenant”) Tenant shall give Landlord notice thereof, together with a term sheet identifying the Proposed Subtenant, its use of the Tenant’s Facility, the term, the rental rate and other economic terms (a “Lease Proposal”). Landlord shall have twenty (20) days after receipt to approve or disapprove such Lease Proposal. If Landlord fails to disapprove the Lease Proposal within such period, the Lease Proposal shall be deemed approved. If Landlord disapproves such Lease Proposal within such time period in writing, Landlord shall be obligated to sublease such portion of the Tenant’s Facility on the same terms and conditions as to which Tenant and such Proposed Subtenant shall have agreed in the Lease Proposal; provided, however, that the term of such subtenancy shall commence from the date the Space Lease (as hereinafter defined) for such Proposed Subtenant was to have commenced and shall terminate on the commencement date of an Space Lease with a Proposed Subtenant acceptable to Tenant and Landlord. Tenant shall require any such Proposed Subtenant to comply with the applicable provisions of this Lease, including the covenants set forth in Article IV.

Tenant’s Right to Sublease. Landlord’s Right of First Refusal. Tenant shall have the right to sublet may, at any time, sublease all or any the commercial portion or portions of the Leasehold Interest (each, a “Sublease”) without Owner’s consent, and in that event, the subtenant of the Commercial Sublease (each, a “Commercial Subtenant”) will perform all of Tenant’s Facility as hereinafter providedobligations under this Lease with respect to the Leasehold Interest subleased under the Commercial Sublease (said Leasehold Interest subleased by the Sublease is hereafter called the “Subleased Property”). In By way of example, if Xxxxxx enters into a Sublease for portion of the event Project that has Affordable Housing Units (or that will be developed into Affordable Housing Units), then the Subtenant of the Sublease will be the “Tenant” under this Lease with respect to the Sublease, and any reference herein to Tenant proposes with respect to sublet the Subleased Property will also mean the Subtenant. For clarity, the following leases are not Subleases under this Lease: (a) the lease of an Affordable Housing Unit, Community Housing Unit or Employee Housing Unit to a qualifying residential tenant thereof; and (b) the lease of Commercial Space to a Commercial Tenant. Any other Sublease will be governed by Article 11 with respect to Owner’s Facility consent. AThe Sublease must specify that the Sublease is limited to an unaffiliated third party Subtenant the Leasehold Interest, and must have a stated expiration date which is prior to expiration of the Term, but no shorter than forty (40) years. Tenant will cause a “Proposed Subtenant”) Tenant shall give Landlord notice thereoftrue, complete and correct copy of the original of each Sublease, together with a term sheet identifying written notice containing the Proposed name and address of the holder Subtenant, its use to be delivered to Owner within ten (10) days of Tenant’s execution and delivery of the Tenant’s Facility, Sublease or Leasehold Mortgage. Subject to the term, the rental rate and other economic terms (a “Lease Proposal”). Landlord shall have twenty (20) days after receipt to approve or disapprove such Lease Proposal. If Landlord fails to disapprove the Lease Proposal within such period, the Lease Proposal shall be deemed approved. If Landlord disapproves such Lease Proposal within such time period in writing, Landlord shall be obligated to sublease such portion of the Tenant’s Facility on the same terms and conditions as to which Tenant and such Proposed Subtenant shall have agreed in the Lease Proposal; provided, however, that the term of such subtenancy shall commence from the date the Space Lease (as hereinafter defined) for such Proposed Subtenant was to have commenced and shall terminate on the commencement date of an Space Lease with a Proposed Subtenant acceptable to Tenant and Landlord. Tenant shall require any such Proposed Subtenant to comply with the applicable provisions of this Lease, including and the covenants set forth rights of any Recognized Interest Holder (defined in Article IVSection 6.4) under any Leasehold Mortgage (defined in Section 6.2), a Subtenant may enforce its rights under its Sublease and take possession of the Leasehold Interest subleased under the Sublease (said Leasehold Interest subleased by the Sublease is hereafter called the “Subleased Property”), in any lawful way.

Tenant’s Right to Sublease. (a) Tenant may freely execute subleases with regard to the Improvements, provided only that (i) the lease term of each such sublease (including all renewal and extension rights of any kind or type) shall not extend past the stated expiration date of the Term, unless Landlord consents in writing thereto, which consent shall not be unreasonably withheld or delayed and (ii) the intended use by the sublessee does not violate any provision of any Applicable Laws or any deed restrictions affecting the Land. (b) Each sublease for space in the Improvements shall specifically provide that the sublessee’s rights thereunder are subject to Landlord’s Right rights under this Lease and shall provide that upon a termination of First Refusalthis Lease or of Tenant’s right to possession of the Premises such sublease shall continue in effect as a lease directly between Landlord and the sublessee thereunder, provided that (i) the sublessee attorns to Landlord, (ii) Landlord shall not be responsible for the return or repayment of any security or other deposits made by such sublessee with Tenant unless Tenant has turned the same over to Landlord, and (iii) Landlord shall not be liable or responsible for the cure or remedy of any breach, violation or default on the part of Tenant under subleases occurring prior to termination of this Lease or of Tenant’s right to possession of the Premises. Tenant shall have give a copy of each sublease to Landlord upon request therefor by Landlord from time to time. (c) Notwithstanding anything to the contrary set forth in this Lease, if for any reason this Lease or Tenant’s right to sublet possession of the Premises is terminated by Landlord in accordance with the terms of this Lease, such termination shall not result in the termination of any subleases affecting the Premises that have been entered into in accordance with the foregoing provisions, Landlord shall recognize all such subleases and they shall continue for the duration of their respective terms (including renewals and extensions) as direct leases between Landlord and the sublessees thereunder. From time to time, upon request therefor, Landlord shall enter into recognition and attornment agreements with sublessees of portions of the Premises further evidencing Landlord’s agreement to recognize subleases as provided in this Section 12.2. (d) For the sake of clarity, Tenant shall have no duty to share any profits or provide any other remuneration or consideration to Landlord as a result of any sublease of all or any portion or portions of Tenant’s Facility as hereinafter provided. In the event that Tenant proposes to sublet the Tenant’s Facility to an unaffiliated third party Subtenant (a “Proposed Subtenant”) Tenant shall give Landlord notice thereof, together with a term sheet identifying the Proposed Subtenant, its use of the Tenant’s FacilityPremises. (e) As used in this Lease the term “sublease” shall include any leases, licenses, occupancy agreements, franchise or other similar rights, agreements or arrangements of whatever nature relating to the term, the rental rate and other economic terms (a “Lease Proposal”). Landlord shall have twenty (20) days after receipt to approve use or disapprove such Lease Proposal. If Landlord fails to disapprove the Lease Proposal within such period, the Lease Proposal shall be deemed approved. If Landlord disapproves such Lease Proposal within such time period in writing, Landlord shall be obligated to sublease such portion occupancy of any part of the Tenant’s Facility on the same terms and conditions as to which Tenant and such Proposed Subtenant shall have agreed in the Lease Proposal; provided, however, that the term of such subtenancy shall commence from the date the Space Lease (as hereinafter defined) for such Proposed Subtenant was to have commenced and shall terminate on the commencement date of an Space Lease with a Proposed Subtenant acceptable to Tenant and Landlord. Tenant shall require any such Proposed Subtenant to comply with the applicable provisions of this Lease, including the covenants set forth in Article IVPremises.

Tenant’s Right to Sublease. 11.2.1 Provided that no Tenant Default remains uncured, Tenant may freely execute subleases with regard to the Building and the Improvements, provided only that (i) the lease term of each such sublease (including all renewal and extension rights of any kind or type) shall not extend past the stated expiration date of the Term, unless Landlord consents in writing thereto, which consent shall not be unreasonably withheld, conditioned or delayed and (ii) the intended use by the sublessee does not violate any deed restrictions and other Applicable Laws and regulations affecting the Property of which Tenant has received written notice from Landlord. 11.2.2 Each sublease for space in the Building or the Improvements shall specifically provide that the sublessee’s rights thereunder are subject to Landlord’s Right rights under this Lease and shall provide that upon a termination of First Refusalthis Lease or of Tenant’s right to possession of the Premises such sublease shall terminate, unless Landlord elects to allow said sublease to continue in effect as a lease directly between Landlord and the sublessee thereunder, and further provided that (i) the sublessee attorns to Landlord, (ii) Landlord shall not be responsible for the return or repayment of any security or other deposits made by such sublessee with Tenant unless Tenant has turned the same over to Landlord, and (iii) Landlord shall not be liable or responsible for the cure or remedy of any breach, violation or default on the part of Tenant under subleases occurring prior to termination of this Lease or of Tenant’s right to possession of the Premises. Tenant shall have the right give a copy of each sublease to sublet all or any portion or portions of Tenant’s Facility as hereinafter provided. In the event that Tenant proposes to sublet the Tenant’s Facility to an unaffiliated third party Subtenant Landlord within thirty (a “Proposed Subtenant”30) Tenant shall give Landlord notice thereof, together with a term sheet identifying the Proposed Subtenant, its use days of the Tenant’s Facilityexecution of such a sublease. 11.2.3 As used in this Lease the term “sublease” shall include any leases, licenses, occupancy agreements, franchise or other similar rights, agreements or arrangements of whatever nature relating to the term, the rental rate and other economic terms (a “Lease Proposal”). Landlord shall have twenty (20) days after receipt to approve use or disapprove such Lease Proposal. If Landlord fails to disapprove the Lease Proposal within such period, the Lease Proposal shall be deemed approved. If Landlord disapproves such Lease Proposal within such time period in writing, Landlord shall be obligated to sublease such portion occupancy of any part of the Tenant’s Facility on the same terms and conditions as to which Tenant and such Proposed Subtenant shall have agreed in the Lease Proposal; provided, however, that the term of such subtenancy shall commence from the date the Space Lease (as hereinafter defined) for such Proposed Subtenant was to have commenced and shall terminate on the commencement date of an Space Lease with a Proposed Subtenant acceptable to Tenant and Landlord. Tenant shall require any such Proposed Subtenant to comply with the applicable provisions of this Lease, including the covenants set forth in Article IVPremises.