Amendment to Sublease Sample Clauses
An Amendment to Sublease clause establishes the process and requirements for making changes to the terms of an existing sublease agreement. Typically, this clause specifies that any modifications must be made in writing and signed by all parties involved, ensuring that verbal agreements or informal changes are not legally binding. By formalizing how amendments are handled, this clause helps prevent misunderstandings and disputes by ensuring that all parties are aware of and agree to any changes to the sublease terms.
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Amendment to Sublease. Section 13 of the Sublease is amended (x) to amend the third sentence thereof to read as follows: “Without limiting the foregoing, Sublesee shall maintain with respect to the Subleased Property a reserve (the “Sublease FF&E Reserve”) for capital and FF&E expenditures in an amount equal to (a) 2.5% of (i) gross revenues derived from operations of the Subleased Property (including, without limitation, from operations of the hotel and casino components of the Subleased Property) for the period in question minus (ii) the amount attributable to “comps” for the Subleased Property during such period (the gross revenues net of such comps being referred to for purposes of this Section 13 as the “net revenues”), less (b) any amounts actually expended during such period by Sublessee or Sublessor on account of FF&E (other than from the Sublease FF&E Reserve or FF&E Reserve under the Master Lease, it being understood that amounts expended on account of FF&E from the Sublease FF&E Reserve or the FF&E Reserve under the Master Lease shall not be included in any deductions from the Sublease FF&E Reserve deposit requirements) (the “Required Sublease FF&E Deposit”); provided that if the amount deducted for a period under clause (b) of this sentence exceeds the amount that would otherwise be payable into the Sublease FF&E Reserve under clause (a) of this sentence for such period, Sublessee may reduce the Required Sublease FF&E Deposit for the next period by the amount of such excess.”; and (y) by adding the following language after the third sentence, “On or before each Sublease Rent Payment Date, Sublessee shall fund or cause to be funded the Sublease FF&E Reserve based on Sublessee’s good faith estimate of the Required Sublease FF&E Deposit for the previous month (i.e., Sublessee’s good faith estimate of 2.5% of the net revenues of the Subleased Property for the previous month minus the amounts actually expended by Sublessee or Sublessor on account of FF&E during such month); and concurrently with such funding Sublessee shall provide to Sublessor a written notice of the amount of such funding. Within forty-five days of the end of each Fiscal Quarter, Sublessee shall furnish Sublessor with information setting forth the actual net revenues and actual Required Sublease FF&E Deposit of the Subleased Property for such Fiscal Quarter, including reasonable detail regarding the gross revenues of the Subleased Property and the comps and actual FF&E expenditures deducted to arrive at...
Amendment to Sublease. All terms defined in the Recitals of this Amendment are hereby incorporated into the Sublease by this reference. Effective as of the date hereof, the Sublease is hereby amended as follows:
Amendment to Sublease. The Sublease is hereby amended as follows: ---------------------
Amendment to Sublease. Provided that Subtenant is not in monetary or material non-monetary default under the Sublease, as amended, beyond any applicable notice and cure periods set forth in the Sublease, as amended, as of the date of Subtenant’s delivery of the “Termination Notice,” as that term is defined below, the Subtenant, shall have the one-time right to terminate Sublease effective as of March 1, 2024 (the “Termination Date”), provided that (i) Sublandlord receives written notice (the “Termination Notice”) from Subtenant not less than twelve ( 12) months prior to the Termination Date stating Subtenant’s election to terminate Sublease, and (ii) concurrent with Sublandlord’s receipt of the Termination Notice, Sublandlord receives from Subtenant an amount equal to the “Termination Fee,” as that term is defined below. Subtenant acknowledges that Sublandlord’s receipt of the entire Termination Fee is consideration for and a condition precedent to, Subtenant’s right to terminate the Sublease.
(a) Provided that Subtenant terminates the Sublease pursuant to the terms of this Section, the Sublease shall automatically terminate and be of no further force or effect and Sublandlord and Subtenant shall be relieved of their respective obligations with respect to such Sublease as of the Termination Date, except those obligations which relate to the period prior to the Termination Date, including, without limitation, the payment by Subtenant or Sublandlord of all amounts owed to the other party with respect to the Sublease up to and including the Termination Date, and those certain obligations set forth in the Sublease, as amended, which expressly survive the expiration or earlier termination of the Sublease, as amended. Subtenant shall return the Premises to Sublandlord upon a termination thereof in accordance with the terms of the Sublease, as amended, as if the term of the Sublease had expired.
(b) For purposes of this Section, the “Termination Fee” shall be equal to the sum of (1) the Rent and Sublandlord’s estimate of Subtenant’s 23% share of Lessee’s Share of Operating Expenses (as defined in the Master Lease) applicable to March and April 2024, and (2) the “Unamortized Costs,” as that term is defined, below.
(c) For purposes of this Section, the “Unamortized Costs” shall be equal to the unamortized portion of the sum of the following costs paid or incurred by Sublandlord on or before the Termination Date, and prorated on a square foot basis for the Premises of the Sublease against...
Amendment to Sublease. (a) Section 1 of the Sublease is hereby deleted in its entirety and replaced with the following:
Amendment to Sublease. (a) Amendment to Exhibit B to each of Subleases. Exhibit B to Sublease - Allocated Values is hereby deleted in its entirety and replaced, in the case of each Sublease, with a new Exhibit B to Sublease - Allocated Values attached to this Master Amendment.
Amendment to Sublease. Section 4 of the Sublease is hereby amended as by --------------------- deleting the date "June 30, 2006" that appears therein and replacing it with the date "September 30, 2006."
Amendment to Sublease. Tenant and Subtenant agree that they shall --------------------- not change, modify, or amend (in any natural respect) or cancel or terminate the Sublease except in accordance with its terms or enter into any additional agreements relating to or affecting the use or occupancy of the Subleased Premises or any other portion of the Premises or the use, sale or rental of Tenant's fixtures, leasehold improvements, equipment, furniture or other personal property, without first obtaining Landlord's prior written consent thereto, which consent shall not be unreasonably delayed or withheld.
Amendment to Sublease. This Consent to Amendment to Sublease (this “Consent to Third Amendment”) is made as of May 5, 2009, by ARE-770/784/790 MEMORIAL DRIVE, LLC, a Delaware limited liability company, having an address of ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ (“Landlord”), INFINITY DISCOVERY, INC., a Delaware corporation, having an address of ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ (“Tenant”), and HYDRA BIOSCIENCES, INC., a Delaware corporation, having an address at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ (“Sublessee”) with reference to the following Recitals.
Amendment to Sublease. Seller agrees to use reasonable and diligent efforts in good faith to obtain an amendment to the Sublease substantially in the form attached hereto as Exhibit “F” and by reference made a part hereof (i.e., the Fifth Sublease Amendment), duly executed by Seller, Subtenant and Guarantor. The failure of Seller to obtain the Fifth Sublease Amendment after Seller shall use reasonable and diligent efforts in good faith to obtain same shall not constitute a default by Seller under this Agreement.