sublease

(redirected from Sublessee)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

sublease

The relationship created when a tenant rents some or all of its premises to another for some or all of the remaining term of the original tenant's lease. Technically, if the tenant transfers all of its interest, that is an assignment. If the tenant retains some of the space, or some of the time under the lease, that is a sublease. At all times, the tenant remains liable under its lease with the building owner.

References in periodicals archive ?
If rejection under this provision terminates the lease, a sublessee has no recourse under the applicable nonbankruptcy law provision, since the lease no longer exists.
The building or portion of the improvement is occupied by the lessee or sublessee.
Some of the elements which would certainly and directly affect the market price agreed upon by a tenant and a sublessee in such an extraordinary and unusual transaction would be the reasonable cost of moving out the property stored and preparing the space for occupancy by the subtenant.
The improvement had to be made under or pursuant to a lease either by the lessee, sublessee or lessor of that interior building portion.
Benjamin Friedland of CB Richard Ellis represented the sublessee, Andor Capital Management.
Only at that time would a deduction be allowed for the basis in the right, either through amortization or sale of the interest to the sublessee.
Likewise, the sublessee does not have direct rights against the landlord but rather must look to its sublessor for resolution of any issues.
Barbara represented the sublessee, Global eProcure; the sublessor was Capgemini.
In a commercial setting, the ADA coverage is quite extensive and would include the sublessee, management companies, and any other entity that owns, leases, leases to, or operates a place of public accommodation, even if the operation is only for a short time.
Under the terms of the agreement, the sublessee has the option, and right of first refusal, to expand into the remaining 46,000 sq.
Botsaris and his team worked on behalf of both the tenant, Federated Department Stores, and the sublessee.
While the sublessee would deal directly with the tenant (who would not relinquish any of the lease obligations), you can help the tenant by having your agents refer prospects to them.