Common use of Termination of Prime Lease Clause in Contracts

Termination of Prime Lease. It is understood and agreed by and between the parties hereto that the existence of this Sublease is dependent and conditioned upon the continued existence of the Prime Lease, and in the event of the cancellation or termination of the Prime Lease, this Sublease automatically shall be terminated; provided, however, that this provision shall not be deemed to release Sublessor from liability if the Prime Lease is cancelled or terminated by reason of a default by Sublessor as tenant under the Prime Lease, which default did not result, in whole or in part, from a default by Tenant hereunder. Sublessor shall have no liability to Tenant if the Prime Lease is cancelled or terminated by reason of a default by Tenant hereunder, or by reason of any condemnation or destruction of the Subleased Premises.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Bison Instruments Inc), Sublease Agreement (Bison Instruments Inc), Sublease Agreement (Bison Instruments Inc)

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Termination of Prime Lease. It is understood and agreed by and between the parties hereto that the existence of this Sublease is dependent and conditioned upon the continued existence of the Prime Lease, and in the event of the cancellation or termination of the Prime Lease, this Sublease automatically shall be terminated; provided, however, that this provision shall not be deemed to release Sublessor Sublandlord from liability if the Prime Lease is cancelled canceled or terminated by reason of a default by Sublessor Sublandlord as tenant under the Prime Lease, which default did not result, in whole or in part, from a default by Tenant hereunder. Sublessor Tenant shall have no liability to Tenant recourse against Sublandlord if the Prime Lease is cancelled canceled or terminated by reason of a default by Tenant hereunder, or by any reason of any condemnation or destruction of other than a default by Sublandlord under the Subleased PremisesPrime Lease.

Appears in 1 contract

Samples: Sublease Agreement (Advisors REIT I, Inc.)

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