29.12 3. Exercise Of Rights

• Jurisdiction: New York

3. Exercise of Rights

A subtenant’s rights derive entirely from the sublandlord’s rights under the direct lease. Accordingly, the subtenant should request that the sublandlord agree not to exercise rights under the direct lease that could hurt the subtenant or the sublease. Unless the subtenant has obtained a recognition agreement from the landlord, the subtenant must limit the right of the sublandlord to terminate the direct lease voluntarily. The subtenant should not permit the sublandlord to terminate...