Sublease Agreement Termination
B. Sublandlord subletting to Subtenant, part of the premises from approximately 22,509 RSF at the 2nd December 21, 2006, the sublease, which covers the subleases specially described in the sublease (the “sublet premises”) for a period of approximately sixty-six months (66) months from January 8, 2007 (“initial date”) with the right of early termination at the end of the thirty-sixth month (36) from the start date, after six (6) months of prior written notice to Sublandlord and payment of a fee equal to the sum of an additional three-month basic rent of three (3) months153. 3. Termination Fees. In consideration for the termination of the sublease and the full performance of all outstanding obligations of Sublandlord and subcontractor under the sublease, Sublandlord pays the amount of $550,405.40 (the “Termination Fee”). The termination fee has been calculated in accordance with points I and II of Appendix A and must be paid. A sublease agreement is a contract entered into by an existing tenant and a potential subtenant. It allows the subtenant to occupy all or part of the rented house or apartment. The tenant must pay the rent to the tenant and not to the landlord. The rent received by the subtenant can be withheld by the tenant. The owner of the premises collects the tenant`s normal rent. Even if the subtenant does not meet certain obligations, the tenant remains responsible and must pay the agreed rent to the lessor on time. 9.3 Waiver/Modification/Modification.
No alleged modification of this Agreement, nor the waiver, performance or termination of any obligation under it, or any other subject matter that purports to influence its terms or interpretations, may be applied or permitted, except to the extent expressly set forth in a letter signed by the party against whom performance or admission is sought. Without limiting the general quality of the foregoing, no oral undertaking or statement, or act, inaction, delay, non-performance or conduct shall be deemed evidence of any modification, waiver or other effect on this Agreement. Each waiver granted shall be limited to the specific circumstance expressly described therein and shall not apply to the following or other circumstances, similar or different, or whether justified or justifying an obligation or obligation to grant a new waiver. . . .