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A standard sublease agreement is a common legal agreement that allows a renter of a property to sub rent to a new tenant who will be taking the renter's place. A standard or simple sublease agreement can be used for renting out houses, condominiums, apartments, rooms in a house, and more.
Standard sublease agreements are great to have in place when a tenant is dealing with lost expenses from unexpected moves. It can also help renters make income from short-term rentals while going on business or vacation and many other situations. It is important to always review the original lease agreement to make sure subletting is allowed for the property.
Below is a list of common sections included in Standard Sublease Agreements. These sections are linked to the below sample agreement for you to explore.
This Sublease Agreement (“Sublease”) is made effective as of the first day of March, 2012, (the “Effective Date”) by and between KALOBIOS PHARMACEUTICALS, INC., a Delaware corporation (“Sublandlord”), and COMPUGEN, INC.„ a Delaware corporation (“Subtenant”). Sublandlord agrees to sublease to Subtenant, and Subtenant agrees to sublease from Sublandlord, those certain premises situated in the City and County of San Francisco, State of California, consisting of approximately 4,410 square feet of space on the first floor in that certain building located at 260 East Grand Avenue, as more particularly set forth on Exhibit “A” hereto (the “Subleased Premises”).
MASTER LEASE AND OTHER AGREEMENTS
1.1 Subordinate to Master Lease . Except as specifically set forth herein, this Sublease is subject and subordinate to all of the terms and conditions of that certain Lease dated as of January 19, 2011 (the “Master Lease”) between Britannia Pointe Grand Limited Partnership, a Delaware corporation (“Master Landlord”) and Sublandlord as “Tenant”. Subtenant hereby assumes and agrees to perform the obligations of Tenant under the Master Lease to the extent incorporated herein. Unless otherwise defined, all capitalized terms used herein shall have the same meanings as given them in the Master Lease. A copy of the Master Lease is attached hereto as Exhibit “B” and incorporated herein by this reference. Subtenant shall not commit or permit to be committed any act or omission which would violate any term or condition of the Master Lease. Subtenant shall neither do nor permit anything to be done which would cause the Master Lease to be terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in Master Landlord under the Master Lease, [and Subtenant shall indemnify and hold Sublandlord harmless from and against all claims, liabilities, judgments, costs, demands, penalties, expenses, and damages of any kind whatsoever, including, without limitation, attorneys’ fees, consultants’ fees and costs and court costs, (“Claims”) by reason of any failure on the part of Subtenant to perform any of the obligations of Lessee under the Master Lease which Subtenant has become obligated hereunder to perform, and such indemnity and hold harmless shall survive the expiration or sooner termination of this Sublease, except to the extent any such Claims directly or indirectly arise out of or are attributable to the the gross negligence or willful misconduct of Sublandlord or Master Landlord. In the event of the termination of the Master Lease for any reason, then this Sublease shall terminate automatically upon such termination without any liability owed to Subtenant by Master .Landlord, or by Sublandlord unless the termination is due to Sublandlord’s breach of the Master Lease and not due to Subtenant’s breach of the Sublease. Subtenant represents and warrants to Sublandlord that it has read and is familiar with the Master Lease.
1.2 Applicable Provisions . All of the terms and conditions contained in the Master Lease as they may apply to the Subleased Premises are incorporated herein and shall be terms and conditions of this Sublease, except those directly contradicted by the terms and conditions contained in this document, and specifically except for the following Paragraphs of the Master Lease which are not incorporated or are incorporated as modified herein: the Basic Lease
Information and Definitions that have different terms or definitions from those set forth in this Sublease and Sections 1.1.1, 1.1.4, 1.2, 1.3, 2, 3, 4, 6.1, 7.1 as to Building Systems and routine maintenance to the load bearing and exterior walls (which shall continue to be maintained by Sublandlord), 7.2, 15.4, 16, 21, 23, 28, 29.18, 29.21, 29.24, 29.27, Exhibits A and C. Each reference therein to “Landlord”, “Tenant” and “Lease” to be deemed to refer to Sublandlord, Subtenant, and Sublease, respectively, as appropriate. However, the following provisions that are incorporated herein, the reference to Landlord shall mean Master Landlord only or both Master Landlord and Sublandlord if stated as “(both)”: 5.3.1.1 (both), 5.3.1.2 (both), 5.3.1.3 (both), 5.3.1.5 (both), 5.3.2.1, 5.3.2.2, 7.4, 8 (both) and as modified by Section 7.2 herein, 10.2, 11, 13, 18, 19.5 (both), 26 (both), 27 (both), 29.13 (first sentence), 29.29, Exhibits D and E. All of the incorporated terms of the Master Lease as referenced and qualified above along with all of the following terms and conditions set forth in this document shall constitute the complete terms and conditions of this Sublease.
1.3 Obligations of Sublandlord . Notwithstanding anything herein contained, the only services or rights to which Subtenant is entitled hereunder are those to which Sublandlord is entitled under the Master Lease or which Sublandlord agrees to provide pursuant to the express terms of this Sublease. The parties acknowledge that Subtenant has no privity of contract with Master Landlord and therefore Sublandlord shall use its reasonable good faith efforts to obtain the performance by Master Landlord of its obligations under the Master Lease (including, without limitation all repair and maintenance obligations pursuant to Section 7.4 thereof). Subtenant shall reimburse Sublandlord for all reasonable costs incurred by Sublandlord in such efforts. Sublandlord shall have no liability to Subtenant or any other person for damage of any nature whatsoever as a result of the failure of Master Landlord to perform said obligations except where such failure is the result of Sublandlord’s breach of the Master Lease. With respect to any obligation of Subtenant to be performed under this Sublease, when the Master Lease grants Sublandlord a specific number of days to perform its obligations thereunder, Subtenant shall have two (2) fewer days to perform. With respect to approval required to be obtained by “Landlord” under the Master Lease, such consent must be obtained from Master Landlord and Sublandlord and the approval of Sublandlord will be deemed withheld if Master Landlord’s consent is not obtained. Sublandlord will duly notice Master Landlord of requests for consent by Subtenant, but retains the right to make its own independent determination of consent pursuant to the terms of this Sublease.
2.1 Term . The term of this Sublease shall commence on the date on which the Sublandlord obtains the consent of Master Landlord set forth in Article 10 below and delivers exclusive possession of the Subleased Premises to Subtenant. This shall be referred to as the “Commencement Date.” The term of this Sublease shall end on June 30, 2014, unless sooner terminated pursuant to any provision of the Master Lease applicable to the Subleased Premises (the “Expiration Date”). Sublandlord shall have no obligation to Subtenant to exercise any of its options to extend under the Master Lease. In the event the Commencement Date has not occurred on or before March 1, 2012, Subtenant shall have the right to terminate this Sublease without penalty by delivery of written notice to Sublandlord, and Sublandlord will promptly return all monies paid to Sublandlord by Subtenant on account of this Sublease.
2.2 Option to Extend . Subtenant shall have no option to extend this Sublease.