RVBD » Topics » LEASE CONDITION

This excerpt taken from the RVBD 10-Q filed Apr 27, 2007.

LEASE CONDITION

Landlord has advised Tenant that this Lease is subject and subordinate to (i) that certain Agreement of Lease, dated as of June 25, 2002 the “Hannover Lease”) between Landlord and Hannover Fairs USA, Inc. (“Hannover”) and (ii) that certain Sublease Agreement, dated as of October 24, 2004 (the “Hannover Sublease”) between Hannover and Landlord as successor-in-interest to Netscaler, Inc. Landlord has further advised Tenant that this Lease is subject to obtaining Hannover’s consent hereto (the “Condition”). It being understood that until the expiration or earlier termination of the Hannover Lease, this Lease will be a subsublease and upon any such expiration or termination of the Hannover Lease, Landlord agrees to recognize this Lease, subject to the terms hereof, as a direct Lease between Landlord and Tenant. This Lease shall be of no force and effect unless and until the Condition is satisfied; it being understood and agreed, however, that if for any reason whatsoever, the Condition is not satisfied or waived by Landlord on or before the date that is forty-five (45) days after the date hereof, this Lease shall be void ab initio, and be of force and effect, and Landlord and Tenant shall have no obligations or liabilities to the other party under this Lease.

 

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