29.5 III. Does The Sublease “Work”?

• Jurisdiction: New York

III. Does the Sublease “Work”?

As with any direct lease, the preparation and negotiation of a sublease must cover a range of areas. Counsel in a sublease transaction will want to make sure that the sublease document does the following:

1. Accurately sets forth the terms of the proposed transaction between the tenant (sublandlord) and the subtenant;

2. Complies with the requirements of the direct lease, which must be addressed in the sublease (it is typical, for example, that specific provisions of the

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