sublease


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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 ?
In other words, if you only sublease a portion of your sublandlord' s premises, and your sublandlord, as the tenant under the master lease, defaults under that master lease -- your sublease is at risk and can be terminated.
You may be surprised to hear that your landlord is interested in taking back all or a portion of your space so that they can undertake renovations or bring in a new tenant they have prospected, in which case you may not need to pursue a sublease.
Going forward, Learner predicts that in addition to incorporating more flexible options into leases, tenants may 'buy' flexibility by taking more space than needed and structuring short-term sublease agreements amid strong demand from emerging start-ups.
Yet despite these positive signs for those seeking sub-tenants, subleases are actually getting snapped up so quickly because of weaker price points compared to the direct-lease market.
In this form, the consent to the sublease should in no way release tenants from any of the covenants, agreements, liabilities and duties under a lease.
FM directs the BK1 affiliate to pay BK1 annual amounts equal to 90% of FM's annual rent obligation under the sublease (i.
The percentage of available Manhattan office space being offered for sublease is also at a five-year low.
Given economic parity with a sublease, the freedom of lease termination beckons alluringly.
Actual results may differ materially from what is expressed herein and no assurance can be given that the company can fulfill the requirements of the sublease or generate future earnings.
Some may be marketable next year, some situations may change next year," he said, but "not [all] the sublease space is going to go first [just] because it is priced cheaper.
The dot-com bust has sent sublease markets soaring.
The charge represents the difference between the lease and the sublease for the entire remaining term, as well as write-offs for furniture and leasehold improvements.