Common use of End of Term Clause in Contracts

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 2 contracts

Samples: Gross Lease (Clicksoftware Technologies LTD), Gross Lease (Lightbridge Inc)

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End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and the Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount amounts determined under clause (a) of this sentence shall be prorated by multiplying each such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes shall be prorated in the manner described in clause (b); (d) the clause (c) amount amounts (i.e., the prorated Operating Costs Base Amount Allocable to the PremisesPremises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes, respectively) shall be deducted from the clause (b) amount amounts (i.e., the prorated Operating Costs Allocable to the Premises and the prorated Property Taxes Allocable to the Premises, respectively); (e) if the respective clause (d) amount exceeds amounts exceed the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term exceeds exceed the respective clause (d) amountamounts, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease). Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 2 contracts

Samples: Lease (Integrated Information Systems Inc), Lease (Healthgate Data Corp)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's ’s and Tenant's ’s obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 2 contracts

Samples: Lease (Endurance International Group Holdings, Inc.), Lease (Endurance International Group Holdings, Inc.)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord within twenty-four (24) hours after the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to the greater of (i) two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term, and (ii) the then fair market rental value for the Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. The provisions of this Article 20 shall survive the Expiration Date.

Appears in 2 contracts

Samples: Focal Communications Corp, Musicmaker Com Inc

End of Term. If A. Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease shall terminate on a day in good order and condition, broom clean, except for reasonable wear and tear and damage by fire or other than the last day of a Year, casualty (a) Landlord shall estimate the Operating Costs Allocable but recognizing Tenant’s obligations to maintain the Premises as provided in this Lease) and Property Taxes Allocable to Tenant shall surrender all keys for the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction. In addition, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay remove all computer, telephone and data cabling servicing its premises. If Tenant shall hold over after the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration Expiration Date or other termination of this Lease, such holding over shall not be deemed to be a renewal of this Lease but shall be deemed to create a month to month tenancy only and by such holding over Tenant shall continue to be bound by all of the terms and conditions of this Lease, except that during such month to month tenancy Tenant shall pay to Landlord (A) the greater of (i) two (2) times the monthly Base Rent Landlord is then charging new tenants for space in the Building, or (ii) two (2) times the Base Rent payable hereunder during the last month of the Term, and (B) any and all Operating Expenses and other forms of Additional Rent payable under this Lease. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last day of any calendar month by delivery to the other of notice of such termination prior to the first day of such calendar month. Tenant shall indemnify, defend and hold Landlord harmless from and against any claim, damage, loss, liability, judgment, suit, disbursement or expense (including consequential damages and reasonable attorneys’ fees and disbursements) (collectively, “Claims”) resulting from failure to surrender possession upon the Expiration Date or sooner termination of the Term, including any Claims made by any succeeding tenant, and such obligations shall survive the expiration or sooner termination of this Lease.

Appears in 1 contract

Samples: Commencement Agreement and Lease (Digital Lightwave Inc)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease.Lease with respect to any portion of the Premises, Tenant shall quit and surrender to Landlord such portion of the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the portion of the Premises with respect to which the Term is then expiring must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering such portion of the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender as aforesaid possession of the portion of the Premises the Term with respect to which is then expiring will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder with respect to such portion of the Premises, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the portion of the Premises the Term with respect to which is then expiring is not surrendered to Landlord on the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law (including, without limitation, Landlord's right to terminate this Lease with respect to the entire Premises), and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender such portion of the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of such portion of the Premises for each month and for each portion of any month during which Tenant holds over in such portion of the Premises after the Expiration Date, a sum equal to (i) one and one-half (1.5) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term with respect to such portion of the Premises (other than the Temporary Second Floor Premises) or (ii) Twenty-Five Thousand Four Hundred Sixty-Seven Dollars ($25,467) with respect to any holding over in the Temporary Second Floor Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the portion of the Premises the Term with respect to which is then expiring after the Expiration Date or to limit in any manner Landlord's right to regain possession of such portion of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration

Appears in 1 contract

Samples: Mony Group Inc

End of Term. If this Article 22 of the Lease shall terminate on a day other than is hereby amended to add the last day following: In the event that Tenant remains in possession of a Year, (a) Landlord shall estimate the Operating Costs Allocable to Demised Premises after the Premises and Property Taxes Allocable to Expiration Date or sooner termination of the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) term of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease TermLease, then in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Demised Premises as provided herein, Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant as liquidated damages for each month or portion of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by month during which Tenant for the last Year holds over in the Lease Term exceeds Demised Premises after the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration Expiration Date or other sooner termination of this Lease, a sum equal to one hundred twenty-five percent (125%) of the aggregate of that portion of the Fixed Annual Rent and Additional Rent which was payable under this Lease during the last month of the term hereof for the first thirty (30) days of such holdover, and, thereafter, one hundred fifty percent (150%) of the aggregate of that portion of the Fixed Annual Rent and Additional Rent which was payable under this Lease during the last month of the term hereof. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Demised Premises after the Expiration Date or sooner termination of this Lease or to limit in any manner Landlord's right to regain possession of the Demised Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the term of this Lease shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article. Tenant agrees to indemnify and save Landlord harmless from all costs, claims, losses or liability resulting from delay by Tenant in surrendering the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The provisions of this Article 44 shall survive the Expiration Date or sooner termination of the Lease. The preceding shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State of New York.

Appears in 1 contract

Samples: Premier Exhibitions, Inc.

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. If the last day of the Term falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date, other than by reason of any Unavoidable Delay relating solely to the Building, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and/or for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to the greater of (i) one hundred fifty percent (150%) of the Rental which was payable under this Lease during the last month of the Term, and (ii) the then fair market rental value for the Premises; provided, however, that with respect to the period from and after the forty-fifth (45th) day after the Expiration Date, said monthly amount payable by Tenant to Landlord on account of use and occupancy of the Premises shall be an amount equal to the greater of (i) two hundred percent (200%) of the Rental which was payable under this Lease during the last month of the Term, and (ii) the then fair market rental value for the Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. If (i) Tenant fails to deliver exclusive possession of the Premises to Landlord on or prior to the date that is forty-five (45) days after the Expiration Date pursuant to the terms of this Article 20 other than by reason of any Unavoidable Delay relating solely to the Building, or (ii) Tenant defaults in respect of Tenant's obligation to pay the aforesaid fee for use and occupancy of the Premises after the Expiration Date and such default continues for seven (7) Business Days after the date that Landlord gives Tenant notice thereof, then Tenant shall indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from the delay by Tenant in so surrendering the Premises, including, without limitation, (x) any claims made by any succeeding tenant founded on such delay, or (y) any damages sustained by Landlord by reason of Tenant's failure to deliver possession of the Premises to Landlord. The provisions of this Article 20 shall survive the Expiration Date.

Appears in 1 contract

Samples: Agreement of Lease (Liveperson Inc)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess (less any amounts then owed by Tenant to Landlord) within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its ). Landlord’s and Tenant’s obligations under this Lease. Landlord's and Tenant's obligations under this paragraph Section 3.4 shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Gross Lease (Akcea Therapeutics, Inc.)

End of Term. Notwithstanding anything to the contrary contained herein, if a Substantial Casualty occurs within the last thirty (30) months of the end of the existing Term, Tenant may, upon Notice to Landlord given within thirty (30) days of the determination of the amount of insurance proceeds to be received from the insurance carrier with respect to such Substantial Casualty and subject to the provisions of the applicable Third Party Lease, if any, elect to not restore such Property, regardless of whether the insurance proceeds with respect to such Substantial Casualty are sufficient to complete the restoration of the Property in accordance with Section 13.1 hereof. If Tenant so elects not to restore, then the insurance proceeds with respect to such Substantial Casualty shall, subject to the rights of Third Party Lessors, belong entirely to Landlord. If, at the time of such election, Tenant then holds any portion of such insurance proceeds, such proceeds shall, subject to the rights of Third Party Lessors, promptly be paid to Landlord. If Tenant makes such election not to restore, then this Restated Lease shall terminate as to such Property as of the date on a day other than which Landlord or the last day Third Party Lessor, as the case may be, receives the full amount of a Yearthe insurance proceeds to be received from all insurance carriers with respect to such Substantial Casualty, (a) Landlord and such Property shall estimate be deemed deleted from this Restated Lease on such date. Thereupon, Fixed Rent shall be adjusted in accordance with the Operating Costs Allocable Fixed Rent Adjustment Procedures, and the amounts held pursuant to this Restated Lease on account of advanced Real Estate Tax payments pursuant to Article 4 shall be adjusted 41 accordingly. In no event shall any election pursuant to this Section be deemed to grant Tenant any right to delete such Property from this Restated Lease or to any abatement or reduction in Rent or in any way affect Tenant’s obligation to comply with all applicable Law and Environmental Law with respect to such Property until the time at which such Property is deleted from this Restated Lease pursuant to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Leaseforegoing provisions.

Appears in 1 contract

Samples: Master Lease Agreement (Getty Realty Corp /Md/)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have to a "stay" under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord within twenty-four (24) hours after the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. The provisions of this Article 20 shall survive the Expiration Date.

Appears in 1 contract

Samples: Agreement of Lease (Minerals Technologies Inc)

End of Term. If 12.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease in good order and condition, except for reasonable wear and tear and damage by fire or other casualty, and Tenant shall terminate remove all of its property. Tenant agrees it shall indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to surrender the Premises will be substantial, will exceed the amount of monthly Rent theretofore payable hereunder, and will be impossible of accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Term of this Lease, a day other than sum equal one and one-half (1.5) times the average Rent and Additional Rent which was payable per month under this Lease during the last day six months of a Year, the Term thereof for the first ninety (a90) days of such holdover and thereafter time (2) times the average Rent and Additional Rent. Tenant shall also pay all Additional Rent as incurred in the normal course of operations under the Lease. Tenant shall not be responsible for any consequential damages to Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to unless Tenant holds over in the Premises for such Year predicated on the most recent reliable information available to Landlord; a period of in excess of thirty (b30) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its days. The aforesaid obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other sooner termination of the Term of this Lease. At any time during the Term of this Lease, during business hours upon reasonable advance notice to Tenant (which may be given in person or by telephone), Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein. During the last year of the Term, Landlord may exhibit the Premises · to prospective tenants.

Appears in 1 contract

Samples: Lease Modification Agreement (G Iii Apparel Group LTD /De/)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: United Bancshares Inc /Pa

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is an Event of Default has not then in default occurred which has not been cured as of any the termination date of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Office Lease (Gp Strategies Corp)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of the Term, Tenant ------------ shall quit and surrender to Landlord the Premises, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and Tenant may remove all of its property pursuant to Article 3 hereof. Tenant's obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday this Lease shall expire on the business day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 21. In addition, the parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be substantial, will exceed the amount of the monthly installments of the Rent theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord within twenty-four (24) hours after the Expiration Date or sooner termination of the Term, in addition to any other rights or remedy Landlord may have hereunder or at law, Tenant shall pay to Landlord for each month and for each portion of any month during which Tenant holds over in the Premises after the Expiration Date or sooner termination of this Lease, a sum equal to two (2) times the aggregate of that portion of the Rent which was payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or sooner termination of this Lease and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 21, which provisions shall survive the Expiration Date or sooner termination of this Lease.

Appears in 1 contract

Samples: Agreement of Lease (Global Broadcasting Systems Inc/Fa)

End of Term. If Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease shall terminate on a day other than the last day of a Yearin good order and condition, (a) Landlord shall estimate the Operating Costs Allocable to the Premises broom-clean, exe asonab1e wear and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by tear. If Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days holds over after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease, such holding over shall not b’ renewal of this Lease but shall create a tenancy-at-will, and Tenant shall continue to be bound by all of the terms and conditions of this Lease, except that during such tenancy-at-will Tenant shall pay to Landlord (i) Base Rent at the rate equal to one hundred fifty percent (150%) of that provided for as of the expiration or termination of the Lease, and (ii) any and all Operating Costs and other Additional Rent payable under this Lease. If Landlord loses a prospective tenant because Tenant fails to timely vacate the Premises Tenant will be liable for all damages, including consequential damages, which Landlord may suffer as a result of such holdover. All Alterations, including HVAC equipment, wall coverings, carpeting and other floor coverings, ceiling tiles, blinds and other window treatments, lighting fixtures and bulbs, built in or attached shelving, built in furniture, millwork, counter tops, cabinetry, all doors (both exterior and interior), bathroom fixtures, sinks, kitchen area improvements, and wall mirrors, made by Landlord or Tenant to the Premises shall become Landlord’s property on the expiration or sooner termination of the Lease Term. On the expiration or sooner termination of the Lease Term, Tenant, at its expense, shall remove from the Premises all moveable furniture, furnishings, equipment, and other articles of moveable personal property owned by Tenant and located in the Premises that can be removed without damage to the Premises. Tenant, at its expense, shall also remove all computer and telecommunications wiring from the Premises and Building and all non-standard Alterations to the Premises, including any vault, stairway, or computer room Alterations or any Alterations involving roof, ceiling, or floor penetrations. Tenant shall repair any damage caused by the removal. Any items of Tenant’s property that shall remain in the Premises after the expiration or sooner termination of the Lease Term, may, at the option of Landlord, be deemed to have been abandoned, and in that case, those items may be retained by Landlord as its property to be disposed of by Landlord, without accountability to Tenant or any other party, in the manner Landlord shall determine, at Tenant’s expense.

Appears in 1 contract

Samples: Lease (Alynx, Co.)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. If the Premises are not surrendered by the date that is sixty (60) days after the Expiration Date, Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys’ fees and disbursements) resulting from delay by Tenant to so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date, to addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord’s right to demonstrate and collect any damages suffered by Landlord and arising from Tenant’s failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and/or for each portion of any month during which Tenant holds over to the Premises after the Expiration Date, a sum equal to one (1) and one-half (½) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term for the first thirty (30) days of such holdover and two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term thereafter. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord’s right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. Notwithstanding the foregoing, Tenant shall not be deemed to be holding over on a floor that is not physically occupying, has removed all of Tenant’s Property, and with respect to which it has surrendered possession to Landlord if the leasing of such floor is not being interfered with or prevented by Tenant’s holding over on any other floor in the Premises or the First Offer Space or First Offer Storage Space, as the case may be, and if the commencement date of the term of such floor is not delayed or otherwise affected by such holding over on any other floor in the Premises or the First Offer Space or First Offer Storage Space, as the case may be. The provisions of this Article 20 shall survive the Expiration Date.

Appears in 1 contract

Samples: Agreement of Lease (Coty Inc /)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of any Requirements in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises a sum equal to one and one-half (1 1/2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under the Lease during the last month of the Term for the first month or any portion thereof during which Tenant holds over in the Premises after the Expiration Date, and a sum equal to two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term for each month (or portion of any month) thereafter during which Tenant holds over in the Premises after the Expiration Date. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. The provisions of this Article 20 shall survive the Expiration Date.

Appears in 1 contract

Samples: PSW Technologies Inc

End of Term. If Upon the expiration or earlier termination of this Lease Lease, Tenant shall terminate quit and surrender to Landlord the Premises, vacant, broom clean, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on a day other than the last day of a YearExpiration Date. Tenant shall indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from the delay by Tenant in so surrendering the Premises, including, without limitation, (ax) any claims made by any succeeding tenant founded on such delay, or (y) any damages sustained by Landlord shall estimate the Operating Costs Allocable by reason of Tenant's failure to deliver possession of the Premises to Landlord; provided, however, that Tenant shall not be so obligated to indemnify and Property Taxes Allocable save Landlord harmless unless Tenant fails to surrender possession of the Premises within one hundred twenty (120) days after the Expiration Date. If possession of the Premises is not surrendered to Landlord on the Expiration Date, then, in addition to any other rights or remedies Landlord may have hereunder or at law to obtain possession of the Premises, Tenant shall pay to Landlord on account of use and occupancy of the Premises for such Year predicated on each month and for each portion of any month during which Tenant holds over in the most recent reliable information available Premises after the Expiration Date, an amount equal to Landlord; the greater of (bI) one hundred twenty-five percent (125%) of the Rental which was payable under this Lease during the last month of the Term, and (II) the fair market rent for the Premises; provided, however, that with respect to the period from and after the forty-fifth (45th) day after the Expiration Date, said monthly amount determined under clause (a) payable by Tenant to Landlord on account of this sentence shall be prorated by multiplying such amount by a fraction, the numerator use and occupancy of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in an amount equal to the manner described in clause greater of (b); I) one hundred fifty percent (d150%) of the Rental which was payable under this Lease during the last month of the Term, and (II) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to fair market rent for the Premises) . Nothing herein contained shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable deemed to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant for in accordance with the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant provisions of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default this Article 20. The provisions of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph Article 20 shall survive the expiration or other termination of this LeaseExpiration Date.

Appears in 1 contract

Samples: Alexanders Inc

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End of Term. If 12.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease in good order and condition, except for reasonable wear and tear and damage by fire or other casualty, and Tenant shall terminate remove all of its property and any Specialty Alteration designated by Landlord pursuant to Article 8 hereof. Tenant agrees if Tenant holds over in the Premises beyond the date which is sixty (60) days following the expiration or sooner termination of this Lease, it shall indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on a day other than such delay and including any consequential damages and/or lost opportunities. The parties recognize and agree that the last day damage to Landlord resulting from any failure by Tenant timely to surrender the Premises will be substantial, will exceed the amount of a Yearmonthly Rent theretofore payable hereunder, (a) Landlord shall estimate the Operating Costs Allocable and will be impossible of accurate measurement. In addition to the Premises and Property Taxes Allocable to indemnification set forth above, Tenant therefore agrees that if possession of the Premises for such Year predicated on is not surrendered to Landlord within one (1) day after the most recent reliable information available to Landlord; (b) date of the amount determined under clause (a) expiration or sooner termination of the Term of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease TermLease, then Tenant shall will pay Landlord as liquidated damages (in addition to any other damages Tenant may be liable for hereunder pursuant to the excess second (2nd) sentence of this Section 12.01), for each month and for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Term of this Lease, a sum equal to Landlord within ten (10x) Business Days after Landlord's delivery to Tenant for the first 60 days of a statement for such excess; holdover, one and one-half (11/2) times the average Fixed Annual Rent and Additional Rent which was payable per month under this Lease during the last six months of the Term thereof, and (fy) if commencing on the Estimated Operating Costs Allocable to 61st day of such holdover and thereafter, two (2) times the Premises paid by Tenant for average Rent which was payable per month under this Lease during the last Year in six months of the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its thereof. The aforesaid obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other sooner termination of the Term of this Lease. At any time during the Term of this Lease and upon reasonable prior notice to Tenant, Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease and upon reasonable prior notice to Tenant, Landlord may exhibit the Premises to prospective tenants.

Appears in 1 contract

Samples: Agreement of Lease (Centerline Holding Co)

End of Term. Article 22 hereof is hereby amended to add the following: If this Lease shall terminate on a day other than Tenant remains in possession of all or any portion of the last day Demised Premises after the Expiration Date or sooner termination of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then in addition to any other rights or remedies Owner may have hereunder or at law, and without in any manner limiting Owner’s right to demonstrate and collect any damages (excluding consequential damages except as expressly set forth below) suffered by Owner and arising from Tenant’s failure to surrender the Demised Premises as provided herein, Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant Owner as damages for each month or portion of a statement for such excess; and (f) if month during which Tenant holds over in all or any portion of the Estimated Operating Costs Allocable to Demised Premises after the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration Expiration Date or other sooner termination of this Lease, a sum equal to one hundred fifty percent (150%) (which percentage shall be increased, from and after the first thirty (30) days of any holdover, to one hundred seventy-five percent (175%), and, from and after the first sixty (60) days of any holdover, to two hundred percent (200%)) of the aggregate of that portion of the Fixed Annual Rent and Additional Rent which was payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of all or any portion of the Demised Premises after the Expiration Date or sooner termination of this Lease or to limit in any manner Owner’s right to regain possession of the Demised Premises through summary proceedings, or otherwise, and no acceptance by Owner of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article. In addition, if such holdover exceeds thirty (30) days, Tenant agrees to indemnify and save Owner harmless from all costs, claims, losses or liability (including consequential damages) resulting from delay by Tenant in surrendering all or any portion of the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The provisions of this Article 40 shall survive the Expiration Date or sooner termination of the Lease. The preceding shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York.

Appears in 1 contract

Samples: Atari Inc

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) subject to a final reconciliation pursuant to subparagraph 3.4.2 hereof, Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this LeaseLease beyond any applicable notice and cure periods. Landlord's ’s and Tenant's ’s obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Gross Lease (TNS Inc)

End of Term. If the date of the expiration of the term of this Lease or any sooner termination of this Lease shall terminate fall on a day which is not a business day, then Tenant's obligations herein shall be performed on or prior to the immediately preceding business day. In connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Lease, Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of like import then in effect. If the demised premises are not surrendered upon the termination of this Lease, Tenant hereby indemnifies Landlord against liability resulting from delay by Tenant in so surrendering the demised premises, including any claims made by any succeeding tenant or prospective tenant founded upon such delay. In the event Tenant remains in -- possession of the demised premises after the termination of this Lease without the execution of a new Lease, Tenant, at the option of Landlord, shall be deemed to be occupying the demised premises as a tenant from month to month, at a monthly rental equal to one hundred fifty (150%) percent of the annual rental rate and additional rent (which additional rent, under the terms of this Lease, shall be deemed to be all sums of money, other than the annual rental rate, which become due and payable from Tenant to Landlord hereunder), payable during the last day month of a Yearthe term, (a) Landlord shall estimate subject to all of the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) other terms of this sentence shall be prorated by multiplying such amount by a fraction, Lease insofar as the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable same are applicable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Leasemonth-to-month tenancy. Landlord's and Tenant's obligations under this paragraph Article shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Credit Suisse First Boston Usa Inc

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and the Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount amounts determined under clause (a) of this sentence shall be prorated by multiplying each such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes shall be prorated in the manner described in clause (b); (d) the clause (c) amount amounts (i.e., the prorated Operating Costs Base Amount Allocable to the PremisesPremises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes, respectively) shall be deducted from the clause (b) amount amounts (i.e., the prorated Operating Costs Allocable to the Premises and the prorated Property Taxes Allocable to the Premises, respectively); (e) if the respective clause (d) amount exceeds amounts exceed the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term exceeds exceed the respective clause (d) amountamounts, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Lease (Integrated Information Systems Inc)

End of Term. If ABANDONED PROPERTY; HOLDOVER Upon the expiration or other termination of the Term of this Lease Sublease, Sublessee shall terminate on a day other than peaceably quit and surrender to Sublessor the last day Sublease Premises and all alterations and additions thereto which Sublessee is not entitled or required to remove under the provisions of a Yearthis Sublease, broom-clean, in good order, repair and condition (a) Landlord shall estimate the Operating Costs Allocable to the Premises extent of Sublessee's repair and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its maintenance obligations under this LeaseSublease) excepting only reasonable use and wear and tear and damage by fire or other casualty for which, under other provisions of this Sublease, Sublessee has no responsibility of repair or restoration. LandlordSublessee's and Tenant's obligations under obligation to observe or perform this paragraph covenant shall survive the expiration or other termination of the Term of this Lease.Sublease. If the last day of the Term of this Sublease or any renewal thereof falls on a day other than a Business Day, this Sublease shall expire on the Business Day immediately preceding. Any personal property in which Sublessee has an interest which shall remain in the Building or on the Sublease Premises after the expiration or termination of the Term of this Sublease shall be conclusively deemed to have been abandoned, and may be disposed of in such manner as Sublessor may see fit. Notwithstanding the foregoing, Sublessee will, upon request of Sublessor made not later than 30 days after the expiration or termination of the Term hereof, promptly remove from the Building any personal property or, if any part thereof shall be sold, then Sublessor may receive and retain the proceeds of such sale and apply the same, at its option, against the expenses of the sale, the cost of moving and storage, any arrears of Rent payable hereunder by Sublessee to Sublessor and any damages to which Sublessor may be entitled under Article 15 hereof or pursuant to law, with the balance if any, to be paid to Sublessee. In the event of holding over by Sublessee after expiration or other termination of this Sublease, occupancy of the Sublease Premises subsequent to such termination or expiration shall be that of a tenancy at sufferance and in no event for month-to-month or year-to-year,

Appears in 1 contract

Samples: Entire Agreement (Cn Biosciences Inc)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten thirty (1030) Business Days days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten thirty (1030) Business Day day period described in clause (e) if Tenant is not then in default less the amount of any of its obligations under this Leasesums owed by Tenant to Landlord in accordance herewith. Landlord's ’s and Tenant's ’s obligations under this paragraph shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Deed of Lease (Amber Road, Inc.)

End of Term. If Tenant shall surrender the Demised Premises to Landlord at the expiration or sooner termination of the term of this Lease in good order and condition, except for reasonable wear and tear and damage by fire or other casualty, and Tenant shall terminate on a day other than remove all of its property there from. Tenant agrees that any personal property remaining in the last day Demised Premises following the expiration of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) term of this sentence Lease (or such earlier date as of which the term hereof may have been terminated) shall for all purposes be deemed conveyed to and to be the property of Landlord who shall be prorated by multiplying free to dispose of such amount by a fractionproperty, the numerator at Tenant’s cost, in any manner Landlord deems desirable. Landlord may retain or assign any salvage or other residual value of which is the number such property. In consideration of days within the Lease Term in Landlord’s disposing of such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e.property, the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall reimburse Landlord or pay the excess to Landlord any cost that Landlord may incur in disposing of such property within ten (10) Business Days days after Landlord's delivery demand therefor. Tenant shall indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay of more than sixty (60) days by Tenant in so surrendering the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. Additionally, the parties recognize and agree that other damage to Landlord resulting from any failure by Tenant timely to surrender the Demised Premises will be substantial, will exceed the amount of monthly rent theretofore payable hereunder, and will be impossible of accurate measurement. Tenant therefore agrees that if possession of the Demised Premises is not surrendered to Landlord within one (1) day after the expiration or sooner termination of the term of this Lease, then Tenant will pay Landlord the following liquidated damages: (i) for each of the first three months or portion of any of such first three months during which Tenant holds over in the Demised Premises after the expiration or termination of the term of this Lease, a statement for such excesssum equal to one and one-half (1.5) times the average fixed annual rent and additional rent which were payable per month under this Lease during the last six (6) months of the term thereof; and (fii) if for any month or portion of a month after such first three months during which Tenant holds over in the Estimated Operating Costs Allocable Demised Premises after expiration or termination of the term of this Lease, a sum equal to two (2) times the Premises paid by Tenant for average fixed annual rent and additional rent which were payable per month under this Lease during the last Year in six (6) months of the Lease Term exceeds term thereof. The aforesaid obligations shall survive the clause (d) amount, then Landlord shall refund to Tenant expiration or sooner termination of the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default term of any of its obligations under this Lease. Landlord's Anything in this Lease to the contrary notwithstanding, the acceptance of any rent shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an agreement expressly “providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York and any successor law of like import. Tenant expressly waives, for itself and for any person claiming through or under the Tenant's , any rights which the Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which the Landlord may institute. Tenant’s obligations under this paragraph shall survive the expiration or other sooner termination of the term of this Lease. At any time during the term of this Lease, Landlord may exhibit the Demised Premises to prospective purchasers, investors or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease, Landlord may exhibit the Demised Premises to prospective tenants. In all such showings, Landlord shall use commercially reasonable efforts to minimize any interference with Tenant’s business operations in the Demised Premises (it being understood and agreed, however, that such showings may take place on Business Days during Business Hours).

Appears in 1 contract

Samples: Non Disturbance and Attornment Agreement (Shutterstock, Inc.)

End of Term. If Section 29.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease shall terminate on a day other than in the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to same condition the Premises and Property Taxes Allocable were in on the date hereof, except for (i) Tenant Improvements not required to be removed by Landlord, provided, however, Tenant shall not be required to remove any Tenant Improvements unless such Tenant Improvements are special or unique to Tenant’s use of the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b“Tenant Specialty Items”); (dii) the clause reasonable wear and tear, and (ciii) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) damage by casualty. Tenant shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to surrender all keys for the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant at the expiration or sooner termination of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. In addition, Tenant shall, if requested by Landlord's , remove specifically designated computer, telephone and Tenant's obligations under this paragraph data cabling servicing the Premises. If Tenant shall survive hold over after the expiration Expiration Date or other termination of this Lease, such holding over shall not be deemed to be a renewal of this Lease but shall be deemed to create a month to month tenancy only and by such holding over Tenant shall continue to be bound by all of the terms and conditions of this Lease, except that during such month to month tenancy Tenant shall pay to Landlord (A) one hundred fifty percent (150%) of the Base Rent payable during the last month of the Term for the first two (2) months of holdover and two hundred percent (200%) of the Base Rent payable during the last month of the Term for the third (3rd) and subsequent months of holdover; and (B) any and all Operating Expenses and other forms of Additional Rent payable under this Lease. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last day of any calendar month by delivery to the other of notice of such termination prior to the first day of such calendar month. Tenant shall indemnify, defend and hold Landlord harmless from and against any claim, damage, loss, liability, judgment, suit, disbursement or expense (including consequential damages and reasonable attorneys’ fees and disbursements) (collectively, “Claims”) resulting from failure to surrender possession upon the Expiration Date or sooner termination of the Term, including any Claims made by any succeeding tenant, and such obligations shall survive the expiration or sooner termination of this Lease.

Appears in 1 contract

Samples: Lease (Cara Therapeutics, Inc.)

End of Term. If this Lease shall terminate on a day other than the last day of a Lease Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises (the “Estimated Operating Costs Allocable to the Premises”) and the Property Taxes Allocable to the Premises (the “Estimated Property Taxes Allocable to the Premises”) for such Lease Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Lease Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (db) amount exceeds the Estimated Operating Costs Allocable to the Premises or Estimated Property Taxes Allocable to the Premises paid by Tenant for the last Lease Year for the in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (fd) if the Estimated Operating Costs Allocable to the Premises or Estimated Property Taxes Allocable to the Premises paid by Tenant for the last Lease Year in the Lease Term exceeds the clause (db) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (ec) if Tenant is not then in default of any material obligation under this Lease beyond the expiration of its obligations any applicable notice and cure period under this Lease. Landlord's ’s and Tenant's ’s obligations under this paragraph Section shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Lease (Kitara Media Corp.)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20 with respect to the originally stated Expiration Date. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one and one-half for the first sixty days of such holdover and thereafter, two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. The provisions of this Article 20 shall survive the Expiration Date.

Appears in 1 contract

Samples: Agreement of Lease (BLC Financial Services Inc)

End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365the actual number of days in such Year; (c) the Operating Costs Base Amount Amounts Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount amounts (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds amounts exceed the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten thirty (1030) Business Days days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten thirty (1030) Business Day day period described in clause (e) if any proceeds then being held by Landlord under Section 3.3 are otherwise sufficient to compensate Landlord for any default by Tenant is not then in default of any of its obligations under this LeaseLease (if any). Landlord's ’s and Tenant's ’s obligations under this paragraph Section 3.4.5 shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Office Lease (Kythera Biopharmaceuticals Inc)

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