Sublet Agreement Template Nyc

SUBLET AGREEMENT (NEW YORK CITY)

This Sublet Agreement (the "Agreement") is made and entered into as of [Effective Date] (the "Effective Date") by and between:

Sublandlord: [Sublandlord Name], with a mailing address of [Sublandlord Address] ("Sublandlord"); and

Subtenant: [Subtenant Name], with a mailing address of [Subtenant Address] ("Subtenant").

1. RECITALS

WHEREAS, Sublandlord is the lessee under that certain prime lease dated [Prime Lease Date] (the "Prime Lease") by and between [Landlord Name] ("Master Landlord") and Sublandlord for the premises located at [Full Address of Premises], New York, NY [Zip Code] (the "Premises");

WHEREAS, Sublandlord desires to sublet the Premises to Subtenant, and Subtenant desires to lease the Premises from Sublandlord, subject to the terms, covenants, and conditions of this Agreement and the Prime Lease;

WHEREAS, the parties acknowledge that this sublease is subject to the written consent of the Master Landlord, where such consent is required by the Prime Lease.

2. OPERATIONAL DEFINITIONS

1. "Premises" shall mean the entire space described in the Prime Lease, or the portion thereof as identified in Exhibit A.
2. "Sublease Rent" shall mean the monthly sum of $[Dollar Amount], payable in accordance with Section 3.
3. "Security Deposit" shall mean the sum of $[Dollar Amount] held to secure performance of Subtenant’s obligations.
4. "Prime Lease" shall mean the underlying lease agreement between Master Landlord and Sublandlord, including all amendments thereto.
5. "Term" shall mean the period beginning [Start Date] and ending [End Date], unless terminated earlier pursuant to this Agreement.

3. SUBSTANTIVE TERMS & OBLIGATIONS

1. Grant of Sublease: Sublandlord hereby sublets the Premises to Subtenant for the Term, subject to the terms and conditions of the Prime Lease, which is incorporated herein by reference.
2. Rent Payments: Subtenant shall pay the Sublease Rent to Sublandlord on the [Day] day of each calendar month. Payments shall be made via [Method of Payment].
3. Security Deposit: Upon execution, Subtenant shall deposit the Security Deposit with Sublandlord. This deposit shall be held in accordance with New York General Obligations Law § 7-103.
4. Compliance with Prime Lease: Subtenant represents that they have read the Prime Lease and agrees to perform all obligations of the Sublandlord thereunder, except for the payment of rent to the Master Landlord. Subtenant shall not commit any act that would constitute a default under the Prime Lease.
5. Utilities and Services: Subtenant shall be responsible for [List Utilities, e.g., electricity, internet] during the Term.
6. Condition of Premises: Subtenant accepts the Premises in "as-is" condition. Subtenant shall maintain the Premises in good order and repair.

4. DEFAULT, TERMINATION, AND REMEDIES

1. Events of Default: A default shall occur if Subtenant: (a) fails to pay Sublease Rent within [Number] days of the due date; (b) breaches any material covenant in this Agreement or the Prime Lease; or (c) becomes insolvent or files for bankruptcy.
2. Notice and Cure: In the event of a default, Sublandlord shall provide written notice to Subtenant. Subtenant shall have thirty (30) business days from the receipt of such notice to cure the breach.
3. Remedies: If the default remains uncured, Sublandlord may: (a) terminate this Agreement upon further written notice; (b) recover all unpaid rent and damages; and (c) pursue any other remedies available under New York State law, including summary proceedings for eviction in the Civil Court of the City of New York.

5. BOILERPLATE LEGAL PROVISIONS

1. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflict of law principles.
2. Dispute Resolution: Any dispute arising out of this Agreement shall be subject to the exclusive jurisdiction of the courts located within [County Name], New York.
3. Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior discussions or representations. No amendment shall be valid unless in writing and signed by both parties.
4. Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.
5. Force Majeure: Neither party shall be liable for any failure to perform its obligations where such failure results from any cause beyond the party’s reasonable control, including acts of God, war, or governmental restrictions.

6. FORMAL EXECUTION BLOCK

IN WITNESS WHEREOF, the parties have executed this Sublet Agreement as of the Effective Date.

Sublandlord: [Company Name, if applicable] By: ___________________________ Name: [Signatory Name] Title: [Title] Date: __________________________

Subtenant: [Company Name, if applicable] By: ___________________________ Name: [Signatory Name] Title: [Title] Date: __________________________