A "Right to Sublet" clause allows a tenant to lease their rented property to a third party, either entirely or partially, with certain conditions or restrictions set by the landlord. This clause typically requires the tenant to obtain the landlord's consent before subletting, ensuring the subtenant meets specific criteria.
The Tenant shall not sublet the Demised Premises nor any portion thereof, nor shall this Lease be assigned by the Tenant without the prior written consent of the Landlord endorsed hereon, which consent shall not be unreasonably withheld. Tenant, however, upon advance notice to Landlord, shall have the right to assign this Lease in the event of a corporate reorganization or merger to any new corporate entity of which OncoSec would be a part. Notwithstanding anything to the contrary contained herein, this Tenant shall have the right to sublet the Demised Premises under the following terms and conditions: if Tenant is intending to sublet the Demised Premises to a third party, Tenant must first present to the Landlord the terms and conditions of the proposed sublease with the new Tenant. This proposal must be delivered in writing to the Landlord sixty (60) days prior to the date on which the sublease is to take effect. Upon receipt, Landlord shall have the irrevocable right to recapture the Demised Premises presently leased to Tenant, which right must be exercised within ten (10) days of the receipt of the written notice from Tenant herein. If Landlord agrees to recapture the Demised Premises, then in that event the Tenant shall have no right to sublet the Demised Premises to a third party. However, if the Landlord opts not to recapture the space leased to Tenant, then the Tenant shall have the right to sublet the Demised Premises under the further condition that Tenant shall pay to Landlord the difference between the rent Tenant currently pays to the Landlord under the terms and conditions of this Lease and the rent to be paid by the subtenant to Tenant. Additionally, should Landlord fail to respond within the said ten (10) day period to Tenant, then Tenant shall have the right to sublet the Demised Premises under the terms and conditions set forth in this paragraph. Despite any sublease or assignment of the Lease, Tenant shall remain liable under the Lease.
During the term of the Lease, 220 Alhambra will have the right to sublet the whole or any part of the Property.
RIGHT OF ASSIGNMENT: The Tenant/Buyer shall have the unqualified right to sublet the property, and/or to assign, sell, transfer, pledge or otherwise convey any or all rights or interests which the Tenant/Buyer may have in the property or in this Lease/Option Agreement. Any such assignment will release original Tenant/Buyer from liability and substitute assignee in his/her or its place.
During the lease term, Party B has no right to sublet part or all of its leased property to a third party.
Party A is the owner of the leased house/site or the person who has the right to sublet it (Appendix 5), and guarantees that the leased house/site has no other rights such as mortgages, nor is there any judicial seizure or freezing.
The right to sublet is conditional on Lessee forwarding for Lessor’s approval a confirmed copy of the written agreement between Lessee and sublessee no later than four weeks’ prior to the effective date of the sublease. Further, the right to sublet is conditional on Lessor receiving documentation no later than four weeks’ prior to the effective date of the sublease as to the identification of sublessee, including financial capability and professional qualifications, industry and that sublessee’s daily manager will be available for a meeting with Lessor.
Subject to the terms of this Sublease and the Prime Lease: (i) Subtenant shall have the right to sublet all or a portion of the Premises without Sublandlord’s approval to any successor of Subtenant resulting from a merger or consolidation of Subtenant or to any other entity under the common control or an affiliate of Subtenant or any successor to Subtenant due to the sale of its business; (ii) Subtenant shall have the right to sublet the Premises or assign the Sublease to a reputable tenant, with Sublandlord’s prior written consent, which shall not be unreasonably withheld, conditioned, or delayed in accordance with Section 5.6 of the Prime Lease. Additionally, Subtenant may share occupancy of the Premises with Subtenant’s contractors, customers, partners or business team for which purposes hereof shall not be considered an assignment or subletting.
From time to time, SILEVO, TEO, and/or their respective Affiliates (as applicable, the “Sublessor”) may contract with or permit one or more entities to perform Manufacturing Operations and related business functions at the Manufacturing Facility, including the right to sublet space within the Manufacturing Facility to such entities under terms consistent with the lease by and between the FSMC and Silevo, LLC dated April 30, 2018 with respect to the Manufacturing Facility (each such entity is referred to herein as a “Collocated Entity”) and subject to the approval of the FOUNDATION.
Assignment and Subletting. Subtenant acknowledges and agrees that because of the unique nature of this subletting, Subtenant shall have no right to sublet the Subleased Premises or any part thereof or to assign this Sublease without the prior written consent of Sublandlord, which consent may be withheld or conditioned in Sublandlord’s sole discretion, and that any attempted subletting or assignment not consented to by Sublandlord shall be null and void, shall be a material default hereunder and shall, at the sole option of Sublandlord and in addition to any other rights and remedies available to Sublandlord, cause this Sublease to immediately terminate but such termination shall not relieve Subtenant of its obligations under this Sublease, including, without limitation, its obligation to pay Rent.
Landlord’s Right to Sublet or Assume. Except for a Permitted Transfer, Landlord shall have the option to exclude from the Premises covered by this Lease (“recapture”), the space proposed to be sublet or subject to the assignment, effective as of the proposed commencement date of such sublease or assignment. If Landlord elects to recapture, Tenant shall surrender possession of the space proposed to be subleased or subject to the assignment to Landlord on the effective date of recapture of such space from the Premises. Effective as of the date of recapture of any portion of the Premises pursuant to this section, the Base Rent and Tenant’s Share of Operating Expenses shall be adjusted accordingly.
Landlord has the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant’s breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations).
The “Right to Sublet” is a clause or provision within a lease agreement that allows a tenant to rent out their leased premises to another party, known as a subtenant, while still maintaining responsibility under the original lease. This right permits the tenant to transfer some of their lease obligations and use of the property without breaking the terms of the lease agreement with the landlord.
The Right to Sublet can be particularly useful in the following scenarios:
When drafting a Right to Sublet clause, consider the following key elements:
Example: “The Tenant shall have the right to sublet the premises with the prior written consent of the Landlord. The Tenant remains responsible for all obligations under this lease, and the subtenant must comply with all lease terms and conditions.”
The Right to Sublet is typically found in the following types of contracts:
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