Sample Business Contracts

Texas-Austin-Lakewood on the Park Sublease - Powershift Ventures LLC and Shbang! Inc.

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  • Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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                              SUBLEASE AGREEMENT

          This Sublease is made this _______ day of _______________, 1999 at
Travis County, Texas by and between POWERSHIFT VENTURES, LLC, (herein,
"SUBLESSOR"), and SHBANG! INC., (herein, "SUBLESSEE").


          A.  Pursuant to the Office Building Lease Agreement dated December 26,
1995, between Motorola, Inc. ("MOTOROLA"), as tenant, and AAW Lakewood, Ltd., as
landlord (as amended by the First Amendment to Lease Agreement dated April 8,
1996, the Second Amendment to Lease Agreement dated September 10, 1996, the
Third Amendment to Office Building Lease Agreement dated January 23, 1998, all
of which are attached hereto as Exhibit "A" and are collectively referred to as
the ("MAIN LEASE"), and the Assignment and Assumption of Lease dated
_______________, 1999, the ("ASSIGNMENT") by and between Motorola and Sublessor,
Sublessor has become the Tenant under the Lease for certain premises described
therein consisting of 30,000 square feet of space (the "PREMISES") in the office
building known as Building A of Lakewood on the Park in Austin, Texas (the

          B.  Hub Properties Trust ("LANDLORD") is the successor in interest to
Austin Lakewood on the Park, Ltd. and is the current owner of the Building and
the rights and interests of the landlord under the Lease; and

          C.  Sublessor desires to sublease the Premises to Sublessee and
Sublessee is willing to assume the obligations imposed upon Sublessor accruing
from and after the commencement date of the term of this Sublease under the
Lease, subject to and conditioned upon agreements hereinafter set forth.

          In consideration of the mutual promises contained herein, Sublessor
hereby subleases the Premises to Sublessee, subject to the terms of the Main
Lease, and subject further to the provisions of this Sublease, as follows:

1.   Main Lease.  From and after the commencement date of the term of this
     Sublease, Sublessee agrees to abide by and observe all the terms, covenants
     and conditions of the Main Lease.

2.   Term and Termination.  The term of this Sublease shall commence as of the
     effective date of the Assignment ("EFFECTIVE DATE") and shall terminate
     February 28, 2001, unless earlier terminated pursuant to the Main Lease.

3.   Incorporation of Main Lease.  Insofar as the provisions of the Main Lease
     do not conflict with the specific provisions of this Sublease, they and
     each of them are incorporated into this Sublease as if fully completely
     rewritten herein, and Sublessee agrees to be bound to the Sublessor by all
     the terms of the Main Lease and to assume towards Sublessor and perform all
     the obligations and responsibilities accruing from and after the


     commencement date of the term of this Sublease that Sublessor, by the Main
     Lease, assumes towards the Landlord, except for the payment of rent by
     Sublessee to Sublessor, which is governed by Paragraph 4 herein.  Terms not
     defined in this Sublease shall have the meanings given such terms in the
     Main Lease.  Sublessee agrees to look solely to Landlord for any and all
     remedies it may seek for any damages of any kind related to the Main Lease,
     except as expressly provided in this Sublease; provided, however, the
     foregoing shall not impair Sublessee's right to seek any remedies it may
     have against Sublessor due to Sublessor's breach of this Sublease.
     Sublessor shall have no liability to Sublessee for any wrongful action or
     default on the part of Landlord pursuant to the terms of the Main Lease,
     and Sublessee hereby agrees to look solely to Landlord in event of any such
     wrongful action or default; provided, however, that Sublessor shall not do
     anything nor permit anything to be done that would cause the Main Lease to
     be terminated or forfeited because of any right of termination or
     forfeiture reserved or vested in Landlord, Sublessor, or any other party
     under the Main Lease.  Sublessor will indemnify and hold Sublessee harmless
     from and against all liabilities and claims of any kind (i) arising out of
     or relating to the Tenant's obligations under the Main Lease accruing on or
     prior to the commencement date of the term of this Sublease, or (ii) by
     reason of any breach or default under the Main Lease that is caused by any
     act or omission on the part of Sublessor, its employees, agents or
     contractors by reason of which the Main Lease may be terminated or
     forfeited.  All of the parties hereto agree that, notwithstanding any
     default under the Main Lease by Landlord, Sublessor, or any other parties
     under the Main Lease, Sublessor will not disturb Sublessee's quiet
     possession of the Premises throughout the term of this Sublease so long as
     Sublessee is not in default of its rental payments to Landlord pursuant to
     this Sublease.  Specifically, and without limiting the generality of the
     foregoing, Sublessor shall not exercise its right to terminate the Main
     Lease pursuant to Section I.B. of the Main Lease.  Sublessor's indemnity
     and other obligations pursuant to this section shall survive the expiration
     or termination of the Main Lease and this Sublease.

4.   Rent.  Sublessee agrees to pay directly to Landlord, as and when due, all
     amounts accruing from and after the commencement date of the term of this
     Sublease as base rent, Tenant Costs, and any and all other costs that
     Sublessor would be obligated to pay as Tenant under the Main Lease,
     provided that, with respect to Tenant Costs that are billed by Landlord to
     Sublessor from time to time that require payment by Sublessor to Landlord
     under the terms of the Main Lease (e.g., estimates of variable Tenant Costs
     that change from month to month or annually), Sublessor shall, immediately
     upon receipt of such bill or notice, forward such bill or notice to

5.   Alterations and Improvements; Sublease.  Sublessee shall make no
     alterations or improvements to the Premises without Sublessor's and
     Landlord's prior written consent pursuant to the terms and provisions of
     the Main Lease (which consent by Sublessor shall not be unreasonably
     withheld or delayed); any permitted alterations or improvements shall be at
     Sublessee's sole cost and expense.  Sublessee may, without Landlord's
     consent, erect such shelves, bins, office equipment and trade fixtures as
     it desires, as may be permitted under the Main Lease.  Sublessee shall have
     no right to assign or sublet any interest in this Sublease without first
     obtaining the written consent of the Landlord and


     Sublessor, which consent may or may not be granted by the Landlord or
     Sublessor in their sole opinion, judgment or discretion.

6.   Insurance.  Sublessee agrees that under all applicable insurance provisions
     of the Main Lease, whenever Landlord is named as an additional insured and
     provided with proof of such insurance, Sublessor will also be named as an
     additional insured and provided with proof of insurance, pursuant to the
     terms of such insurance provisions.

7.   Indemnification.  Sublessee agrees to indemnify and hold harmless Sublessor
     from and against any and all claims, liabilities, losses, damages, costs,
     expenses (including attorneys' fees and costs) or demands of any kind
     whatsoever and however arising, resulting from this Sublease or the tenancy
     created hereby, including but not limited to mechanics liens caused
     directly or indirectly due to Sublessee's actions or failure to act, any
     acts by Sublessee which result in breach of the Main Lease, any other
     damage caused by Sublessee, or any loss, damage or costs incurred in
     connection with the Premises as a result of alterations or improvements to
     the Premises performed by Sublessee or Sublessee's agents or independent
     contractors after the commencement of the term of this Sublease
     (collectively, "LOSSES"), unless such Losses result from the negligence of

8.   Default.  The following events shall be deemed to be events of default by
     Sublessee under this Sublease:  any events of default by Sublessee, listed
     as events of default by Tenant set forth in the Main Lease, or any default
     in the provisions of this Sublease.  Upon the occurrence of any such events
     of default, and in addition to any other available remedies provided by law
     or in equity, Sublessor shall have all remedies granted to Landlord in the
     Main Lease.

9.   Consent of Landlord.  This Sublease is subject to and conditioned upon the
     approval and consent of the Landlord.  Sublessee and Sublessor have
     executed this Sublease upon the understanding that this Sublease shall not
     in any way bind Sublessor or Sublessee until receipt by Sublessor and
     Sublessee of the written consent of Landlord.  In the event Sublessee and
     Sublessor do not receive written consent of Landlord for this Sublease on
     or before April 1, 1999, this Sublease shall automatically terminate and
     Sublessee and Sublessor shall have no further rights or obligations under
     this Sublease except as expressly set forth herein.

10.  Brokers.  Sublessor and Sublessee warrant and represent to each other that
     no brokers are entitled to receive a commission in connection with this
     Sublease except in accordance with separate written commission agreements,
     if any.  Each party hereto ("FIRST PARTY") hereby indemnifies and holds the
     other party hereto harmless from and against any and all claims for
     realtors' or brokers' commissions in connection with this Sublease made by
     parties claiming by, through or under the First Party.


11.  Miscellaneous.

          11.1  Notices.  Any notice or other communication required or
permitted to be given under this Sublease shall be in writing and shall be
deemed to be delivered on the date it is hand delivered to the party to whom
such notice is given, at the address set forth below, or if such notice is
mailed, on the date on which it is deposited in the United States Mail, postage
prepaid, certified or registered mail, return receipt requested, addressed to
the party to whom such notice is directed, at the address set forth below:

     If to Sublessor:                     If to Sublessee:
     Suite 220                            Suite 220
     7600 B N. Capital of Texas Highway   7600 B N. Capital of Texas Highway
     Austin, TX  78731                    Austin, TX  78731

          11.2  Severability.  In the event any one or more of the provisions
contained in this Sublease shall for any reason be held invalid, illegal, or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision hereof and this agreement shall be
construed as if such invalid, illegal or unenforceable provisions had never been
contained herein.

          11.3  Waiver of Breach.  The waiver by Sublessor of any breach or
violation of any provision of this Sublease shall not operate as, or be
construed to be, a waiver of any subsequent breach of the same or any other
provision hereof.

          11.4  Entire Agreement.  This agreement constitutes the sole and only
agreement of the parties hereto and supersedes any prior understandings and
written or oral agreements between the parties respecting the subject matter of
this Sublease.

          11.5  Further Assurances, Nondisturbance.  Each party agrees to
execute and deliver such additional .documents and instruments and to perform
such additional acts as may be necessary or appropriate to effectuate, carry out
and perform all of the terms, provisions, and conditions of this Sublease and
the transactions contemplated hereby.  To the extent Sublessor is party to a
non-disturbance agreement with any mortgagee of the Building, Sublessee shall be
entitled to the benefit thereof.

          11.6  Representations and Covenants of Sublessor.  Sublessor, for
itself and its legal representatives, successors and assigns, covenants and
represents to Sublessee and agrees as follows:

          (a) Sublessor, as of the Effective Date, has full right, authority and
power to sublease the Premises, subject to Landlord's consent;

          (b) No other assignment or sublease of the Main Lease has been made by
Sublessor, and the rights and interests of Sublessor in and under the Main Lease
are as of the Effective Date free and clear of any liens and encumbrances made
by Sublessor;


          (c) As of the Effective Date, Sublessor is not in default under any of
the terms of the Main Lease.

          (d) Sublessor has no knowledge of any default in the performance and
observance of obligations contained in the Main Lease to be kept, observed and
performed by Landlord, or of any condition which with the giving of notice or
passage of time, or both, would constitute a default under the Main Lease;

          (e) If Sublessee requests Sublessor to do so, Sublessor shall at
Sublessee's expense use commercially reasonable efforts to enforce the
obligations of Landlord under the Main Lease and to maintain the Main Lease in
full force and effect throughout the term of this Sublease; and

          (f) Sublessor has not exercised prior to the date hereof, and will not
exercise from and after the date hereof, the early termination right of the
Tenant in section I.B. of the Main Lease.

          11.7  Headings.  All headings herein are inserted only for convenience
and ease of reference and are not to be considered in the construction or
interpretation of any provision of this Sublease.

          11.8  Multiple Counterparts.  This Sublease may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which
shall constitute one and the same agreement.  A facsimile signature may be used
for any purpose in lieu of an original signature.

          11.9  Attorney Fees.  In the event either party hereto commences an
action or proceeding against the other with respect to this Sublease, the
prevailing party in such dispute shall be entitled to recover from the other
party all reasonable fees, costs and expenses of enforcing any right of the
prevailing party, including without limitation, reasonable attorneys' fees and

          EXECUTED as of the day and year first above written.

Sublessor:                          Sublessee:


By:__________________________       By:__________________________
Title:_______________________       Title:_______________________


                                 CONSENT BY LANDLORD

          HUB PROPERTIES TRUST, Landlord under the Main Lease referred to in
this Sublease, hereby consents to the foregoing Sublease, and, notwithstanding
section 12 of the Main Lease or any other provision of the Main Lease, Landlord
consents to the continued use of the computer labs within the Premises by
Sublessee, and such use is not a violation of or an Event of Default under the
Main Lease or this Sublease.


Printed Name:_________________