SHALL HAVE THE AUTOMATIC RIGHT TO EXTEND THE TERM OF THIS SUBLEASE, WITHOUT THE
NEED FOR ANY NOTICE OR THE EXECUTION OF AN INSTRUMENT OF RENEWAL, ON A
MONTH-TO-MONTH BASIS (EACH SUCH MONTHLY TERM BEING AN "EXTENDED TERM").
THE
INITIAL EXTENSION TERM SHALL COMMENCE ON THE DAY IMMEDIATELY FOLLOWING THE LAST
DAY OF THE INITIAL TERM AND, EXCEPT AS OTHERWISE SET FORTH BELOW, SHALL END AT
11:59 P.M. ON THE LAST DAY OF THE APPLICABLE CALENDAR MONTH.
DURING ANY
EXTENDED TERM, EITHER SUBLANDLORD OR SUBTENANT MAY TERMINATE THIS SUBLEASE UPON
AT LEAST THIRTY (30) DAYS' WRITTEN NOTICE TO THE OTHER OF ITS INTENT TO
TERMINATE.
EACH EXTENDED TERM SHALL BE ON ALL THE TERMS AND CONDITIONS OF
THIS SUBLEASE.
NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THE PARTIES
HEREBY ACKNOWLEDGE AND AGREE THAT THE FINAL EXTENDED TERM OF THIS SUBLEASE, TO
THE EXTENT APPLICABLE, SHALL EXPIRE ONE (1) DAY PRIOR TO THE "EXPIRATION DATE"
UNDER THE PRIME LEASE.
3.
USES.
THE PREMISES SHALL BE USED AND OCCUPIED BY SUBTENANT
ONLY FOR THE PURPOSES ALLOWED UNDER THE PRIME LEASE AND FOR NO OTHER USE OR
PURPOSE.
4.
RENT AND SECURITY DEPOSIT.
A.
SUBTENANT SHALL PAY SUBLANDLORD WITHOUT DEMAND OR OFFSET A
MONTHLY RENTAL PAYABLE IN ADVANCE ON THE FIRST DAY OF EACH MONTH THROUGHOUT THE
TERM OF THIS SUBLEASE IN THE AMOUNT OF NINE THOUSAND ONE HUNDRED SIXTY SIX
DOLLARS AND 67/100 ($9,166.67; $27.50 PER RENTABLE SQUARE FOOT X 4,000 RENTABLE
SQUARE FEET, DIVIDED BY TWELVE (12) MONTHS) (THE "RENT").
ANY PARTIAL MONTH OF
OCCUPANCY SHALL BE PRORATED ACCORDINGLY.
ALL RENT TO BE PAID BY SUBTENANT TO
SUBLANDLORD UNDER THE TERMS OF THIS SUBLEASE SHALL BE PAID AT SUCH PLACE AS
SUBLANDLORD MAY FROM TIME TO TIME DESIGNATE, AND IN LIEU OF SUCH DESIGNATION,
THEN AT THE PLACE DESIGNATED IN SECTION 10 OF THIS SUBLEASE FOR THE GIVING OF
NOTICES.
SUBTENANT SHALL HAVE NO OBLIGATION TO PAY FOR ALL OR ANY PORTION OF
EITHER UTILITY PAYMENTS OR OTHER PASS-THROUGHS, INCLUDING, WITHOUT LIMITATION,
ANY OPERATING EXPENSES, TAXES OR INSURANCE PREMIUMS, DUE TO THE PRIME LESSOR
UNDER THE PRIME LEASE.
B.
SUBLANDLORD AND SUBTENANT HEREBY ACKNOWLEDGE AND AGREE THAT ANY
SECURITY DEPOSIT HELD BY THE PRIME LESSOR UNDER THE PRIME LEASE WILL BE RETURNED
BY THE PRIME LESSOR TO SUBTENANT IN ACCORDANCE WITH THE TERMS OF THE CONSENT TO
ASSIGNMENT.
SUBLANDLORD SHALL BE SOLELY RESPONSIBLE FOR PROVIDING PRIME LESSOR
WITH A SUBSTITUTE SECURITY DEPOSIT OR ANY OTHER COLLATERAL OR SECURITY THAT MAY
BE REQUIRED UNDER THE PRIME LEASE.
SUBTENANT SHALL NOT BE REQUIRED TO PROVIDE
SUBLANDLORD WITH A SECURITY DEPOSIT UNDER THIS SUBLEASE.
2
5.
PREPARATION FOR OCCUPANCY.
AT THE COMMENCEMENT OF THE TERM,
SUBTENANT SHALL ACCEPT THE SUBLEASE PREMISES IN ITS THEN "AS IS" "WHERE IS"
CONDITION.
THE PARTIES HEREBY ACKNOWLEDGE AND AGREE THAT SUBTENANT WILL
MAINTAIN IN THE PREMISES CERTAIN ITEMS OF PERSONAL PROPERTY IN PLACE AS OF THE
SUBLEASE COMMENCEMENT DATE.
6.
INCORPORATION OF PRIME LEASE.
A.
EXCEPT AS OTHERWISE PROVIDED HEREIN, THIS SUBLEASE IS SUBJECT TO
ALL THE TERMS