Common use of No Exercise of Landlord-Tenant Remedies Against Subtenant Clause in Contracts

No Exercise of Landlord-Tenant Remedies Against Subtenant. So long as the Sublease has not been terminated on account of Subtenant’s default that has continued beyond applicable cure periods (an “Event of Default”), Overlandlord shall not name or join Subtenant as a defendant in any exercise of Overlandlord’s rights and remedies arising upon a default under the O▇▇▇▇▇▇▇▇ unless applicable law requires Overlandlord to join Subtenant as a condition to proceeding against Sublandlord or prosecuting such rights and remedies. In the latter case, Overlandlord may join Subtenant only for such purpose and not to terminate the Sublease or otherwise adversely affect Subtenant’s rights.

Appears in 1 contract

Sources: Lease (Regeneron Pharmaceuticals Inc)

No Exercise of Landlord-Tenant Remedies Against Subtenant. So long as the Sublease has not been terminated on account of Subtenant’s default that has continued beyond applicable cure periods (an “Event of Default”), Overlandlord shall not name or join Subtenant as a defendant in any exercise of Overlandlord’s rights and remedies arising upon a default under the O▇▇▇▇▇▇▇▇ unless applicable law requires Overlandlord to join Subtenant as a condition NY\5747656.2 to proceeding against Sublandlord or prosecuting such rights and remedies. In the latter case, Overlandlord may join Subtenant only for such purpose and not to terminate the Sublease or otherwise adversely affect Subtenant’s rights.

Appears in 1 contract

Sources: Lease Agreement (Regeneron Pharmaceuticals Inc)