LEASE AGREEMENT 425: SUBLEASE OF OFFICE SPACE WITH FURNITURE LEASE FOR EXISTING FURNITURE IN PREMISES $99.95

Product Overview These document(s) are designed for a sublease between an existing tenant who subleases the premises to a new subtenant. The sublease commences when the landlord consents to the transfer. As part of the transaction, the subtenant is renting certain furniture listed in an exhibit owned by the tenant during the term of the sublease. Number of Single Spaced Pages: 12

 

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AGREEMENT OF SUBLEASE made as of ______________, between SUBLEASING TENANT, INC., a _____________ corporation, having an office at ___________________ ("Landlord"), and SUBTENANT, INC.., a _______________ corporation, having an office at _______________ ("Tenant").

W I T N E S S E T H:

WHEREAS, Landlord is the lessee under a certain lease, dated _____________ (the "Original Lease"), as amended by that certain First Amendment to Lease dated ______________ (the "First Amendment"; the Original Lease and the First Amendment are collectively, the "Lease"), with ___________________, as landlord (the "Prime Lessor"), and Landlord, as tenant, which Lease demises the premises (the "Prime Leased Premises") covering the ______________ floors in the building known as __________________ (the "Building"); and

WHEREAS, Tenant desires to sublet a portion of the ___ floor (the "Premises") in the Building, as more particularly described on Exhibit A attached hereto and made a part hereof, and Landlord is willing to sublet the same on the conditions hereinafter set forth;

NOW, THEREFORE, the parties hereto hereby covenant and agree as follows:

1. Demise; Term. Landlord hereby subleases to Tenant and Tenant hereby hires from Landlord the Premises for a term to commence (subject to the provisions of Sections 17 and 18 hereof) on the date of the Prime Lessor's written consent to this Sublease (such date is called the "Commencement Date") and to expire on _______________ (the "Expiration Date"), both dates inclusive.

2. Fixed Rent.

(a) Tenant covenants and agrees to pay to Landlord a fixed basic rent ("Fixed Rent") as follows:

INSERT SCHEDULE OF RENTALS DUE

(b) Tenant shall pay the Fixed Rent and Furniture Rent (as hereinafter defined) in equal monthly installments in advance commencing on the Commencement Date, and continuing on the third business day prior to the first day of each month thereafter during the term of this Sublease, except that Tenant shall pay the first monthly installment of Fixed Rent and Furniture Rent due hereunder upon the execution hereof. Tenant shall make all payments of Fixed Rent, Furniture Rent and all other sums of money as shall become due and payable by Tenant to Landlord hereunder ("Additional Rent") to the office of Landlord, or at such other place as Landlord may designate in writing, without demand (except as expressly provided herein) and without any abatement, set-off or deduction whatsoever.

(c) If the Commencement Date occurs on a day other than the first day of a calendar month, the Fixed Rent and Furniture Rent for such partial calendar month shall be prorated.

3. Additional Rent. (a) Tenant shall pay to Landlord, as Additional Rent hereunder, the full amount of any other charge, fee, cost, sum or expense which Landlord pays or incurs on or after the Commencement Date (x) for the provision of, or in connection with, any services or supplies provided to or for the Premises (or any part thereof) at the request of Tenant and (y) as may be required pursuant to the terms and provisions of the Lease with respect to the Premises.

(b) Tenant shall pay to Landlord, as a portion of Fixed Rent, in equal monthly installments in advance commencing on the Commencement Date, and continuing on the third business day prior to the first day of each month thereafter during the term of this Sublease, as the fixed annual electricity rent inclusion factor, $_______ per rentable square foot of the Premises which for the purposes of this Section 3(b)) shall be deemed to be ___________ rentable square feet (the "Electricity Factor") (the Fixed Rent set forth in Section 2(c) hereof includes an allowance of $___________ per annum on account of the Electricity Factor). If any taxes are payable in connection with the distributing of electrical energy on a rent inclusion basis or if any taxes or surcharges, including sales taxes, are imposed as a result of the resale of such energy to Tenant, Tenant covenants and agrees that, where permitted by law, Tenant shall pay to Landlord, as Additional Rent, such taxes or surcharges.

(c) Tenant shall pay any commercial rent or occupancy tax with regard to the Premises either to the taxing authority, or, if appropriate, to Landlord, as Additional Rent, at least five (5) business days before the due date of each and every such tax payment to the taxing authority.

(d) All payments of Additional Rent shall be paid by Tenant to Landlord within five (5) business days after Landlord's request therefor; provided, however, that if the Lease requires the making of payments on account of any item of Additional Rent, Tenant shall make such payments at least five (5) business days prior to its respective due date under the Lease without the need for request therefor by Landlord.

4. Use. The Premises shall be used only for general office use in connection with Tenant's business, and for no other purpose.

5. Incorporation; Lease.

(a) Except as may be inconsistent with the terms hereof, all of the terms, covenants and conditions of the Lease are hereby made a part hereof with the same force and effect as if fully set forth at length herein and the term "Landlord" in the Lease shall mean Landlord herein and the term "Tenant" in the Lease shall mean Tenant herein and the term "Lease" in the Lease shall mean this Sublease. Without limiting the foregoing, the parties agree that the following provisions of the Lease are inconsistent with the terms of this Sublease and therefore are not incorporated into this Sublease: Articles _____________________ and __ of the Original Lease and Section ___ of the Original Lease as incorporated herein is hereby amended and restated in its entirety to read "Landlord shall make available electricity to the Premises from the public utility company". In any case where the consent or approval of Prime Lessor under the Lease is required, Landlord's consent shall also be required hereunder.

(b) Except as otherwise provided herein, the time limits contained in the Lease for the giving of notices, making payments or demands or performing of any act, condition or covenant on Landlord's part, as tenant thereunder, are changed for the purposes of incorporation herein by reference by shortening same in each instance by five (5) days, so that Tenant shall have a lesser time to observe or perform hereunder than Landlord has under the Lease. In no event, however, shall Tenant have less than two (2) business days to so observe or perform. If Landlord or Tenant receives any notice or demand from the Prime Landlord or Tenant receives any notice or demand from the Prime Lessor under the Lease, said party shall promptly give a copy thereof to the other.

(c) Tenant hereby agrees to comply with all of the terms, covenants and conditions of the Lease on the part of the tenant therein named to be performed thereunder, other than, subject to the provisions of Sections 2 and 3 hereof, the payment of base rent and additional rent under the Lease.

(d) Performance by the Prime Lessor shall be deemed and accepted by Tenant as performance by Landlord herein and Landlord shall not be responsible for any breach of the Lease by Prime Lessor or any nonperformance or noncompliance with any provision thereof by Prime Lessor, including the failure of Prime Lessor to provide any services, utilities and/or repairs. Landlord makes no representation that Prime Lessor will provide any or all of the services, utilities and/or repairs referred to and incorporated by reference into this Sublease.

(e) Neither Landlord nor Tenant shall do nor permit anything to be done which would violate or breach the terms and provisions of the Lease or cause the Lease to be terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in the Prime Lessor under the Lease.

6. Remedies. (a) Landlord shall have the same rights and remedies with respect to a breach of this Sublease by Tenant as the Prime Lessor has with respect to a breach of the Lease, as if the same were more fully set forth at length herein, and Landlord shall have, with respect to Tenant, this Sublease and the Premises, all of the rights, powers, privileges and immunities as are had by the Prime Lessor under the Lease.

(b) If Prime Lessor, in writing, shall claim or otherwise allege that a use of, action or inaction involving, or other circumstances concerning, the Premises is in violation of any provision of or may become a default under the Lease, in addition to Landlord's other rights hereunder and at law, Tenant, promptly after notice from Landlord, shall cease such use or action, take such action or cause such circumstance to be changed so that the basis or alleged basis for such claim or allegation shall no longer exist.

7. Termination of Lease. Provided that Tenant is not in default under this Sublease, Landlord covenants and agrees not to voluntarily cancel or surrender the Lease or voluntarily modify the Lease so as to deprive Tenant of its material rights under this Sublease, without the prior written consent of Tenant; provided, however, Landlord may voluntarily cancel or surrender the Lease if Prime Lessor agrees to recognize this Sublease as a direct lease between Prime Lessor and Tenant. Notwithstanding anything to the contrary contained herein, if the Lease is terminated for any reason whatsoever, whether by operation of law or otherwise, except through the default of Landlord, as tenant thereunder (excluding a default caused by Tenant), Landlord shall not be responsible for such termination or the termination of this Sublease as a result thereof.

(continued)

End of Excerpt

 

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