Sublease Consents and Recognition Agreements: Now Comes the Really Hard Part
Ira Meislik
34 PROBATE& PROPERTY NOVEMBER/DECEMBER 2004 To Recognize or Not to Recognize— That Is the Question One important exit strategy for a large space tenant seeking to shed itself of leased space is to have the option of assigning its lease or of subletting all or part of its premises. Generally, a tenant who no longer needs its space will prefer assignment if the tenant can be simultaneoousl relieved of its lease obligations or if the prospective assignee is adjudged to be rock solid. Otherwise...