sublease

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sublease

n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. In any event, the original tenant (lessee) is still responsible for paying the rent to the owner (landlord/lessor) through the term of the original lease and sublease. (See: lease, rent)

sublease

verb allow the use of, demise, grant a deeise, grant a lease, hire, let out, make available for rent, rent, rent out, sublet, subrent, underlet

sublease

a lease of property made by a person who is himself a lessee or tenant of that property, or the act of granting or taking such a lease.

SUBLEASE. A lease by a tenant to another tenant of a part of the premises held by him; an underlease.

References in periodicals archive ?
19) Other courts, relying on the applicable nonbankruptcy law provision, have held that the property rights of a sublessee are matters of nonbankruptcy law.
The building portion had to be occupied exclusively by the lessee or sublessee.
Think of a triangular dinner table with landlord, sublessor (tenant) and sublessee (subtenant) seated on each side.
The terms of the sublease are in line with the assumptions used in the prior calculations and the Company does not expect to make any adjustment to the restructuring charge as a result of entering into the sublease, though future events, such as subleasing the remainder of the property to the sublessee or another party, could require an adjustment.
29) Nevertheless, when a tenant goes dark without a sublessee to take over the space, it is certainly arguable that the tenant is in default, triggering a breach and justifying termination or damages regardless of whether the lease contains an ICCO.
Those regulations apply to the actual operators of the Antennas which may be tenants under a lease or a sublessee, sub-licensee or permittee of a tenant.
General Services Administration (GSA) is the current tenant and sublessee of the county's facility.
For those working with subleases, there are a host of considerations not just for the sublessee, but for the primary tenant, owner and broker as well.
The company also has retained a real estate broker who is assisting in locating a potential assignee or sublessee for the lease on the facility on Wateridge Circle Drive.
Similarly, the parties must determine and document whether the sublessor or sublessee will have the right to exercise certain options under the lease, e.
One additional fact that is a critical component for the sublessor or prospective sublessee to recognize is that the local owners or large portfolio managers are making a concerted effort to drive their net effective rental rates, and the length of their lease terms, as high and long as they can: Their ultimate desire is to position their properties for a possible acquisition or refinancing.
The sublessee, American, could have elected to replace the aircraft under the sublease, but has opted not to do so.