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 ?
The surrender provision is invoked when a bankrupt sublessor fails to assume or reject a lease within sixty days after filing for bankruptcy.
Last minute information requests slow the process and anger tenants in their unfamiliar role as sublessor.
Fabrizi, executive vice presidents, of Cushman & Wakefield, represented the sublessor in the transaction.
John Moxley of Jones Lang LaSalle represented the sublessor, The Rockport Company, LLC.
Herb Goldberg and Israel Jungreis of City Connections Realty represented the sublessor.
Sublessor Reed Elsevier was represented by Kevin Daly, senior director, and W.
Hrobsky and avone were able to negotiate a long term sublease for WTAS to occupy a floor and a half, with the sublessor, Kramer Levin Naftalis & Frankel LLP.
Robert Alexander and Christopher Mansfield of CB Richard Ellis represented the sublessor, Alliance Bernstein, in the UBS-owned building.
It is currently fully occupied by sublessor Medco Health Services, Inc.
Berkis closed a 1,839 s/f sub-lease on behalf of sublessor Gardner Publications with Fresh Direct, an online grocer.
The sublessor was represented by Scott Gamber and Peter Turchin of CBRE.
Linda Montez-Loloy, Baguio clerk of court, sent the sheriffs to serve vacate notices to all sublessors of Camp John Hay Development Corp.