Removal from Premises. Seller may enter into subleases of the Premises under each of the Master Leases in accordance with Sublease Parameters (defined below) (each referred to as a “Sublease”). When a Sublease has satisfied the Earn Out Conditions applicable to it, then the Sublease will be an Earn Out Lease, will be assigned from Seller to Purchaser so that same will be a direct lease between Purchaser and the applicable subtenant and will no longer be a part of the Premises demised under the applicable Master Lease for all purposes as of the date the Earn Out Conditions are satisfied.
Appears in 3 contracts
Sources: Agreement of Sale and Purchase, Sale and Purchase Agreement (Stratus Properties Inc), Agreement of Sale and Purchase (Stratus Properties Inc)