Hold Over Fee Sample Clauses

Hold Over Fee. In the event this Agreement is terminated pursuant to Paragraphs (2) or (14) hereof, and so long as the Equipment remains on the Premises (even if it has been disconnected), LESSEE shall pay to LESSOR a hold-over fee equal to one hundred percent (100%) of the then effective total Rent, prorated from the effective date of termination to the date the Equipment is removed in its entirety from the Premises. LESSOR shall have the right (but not the obligation) to disconnect and remove the Equipment from the Premises. If LESSOR disconnects and removes the Equipment, LESSEE shall pay to LESSOR upon demand three hundred percent (300%) of the disconnection, removal and storage expenses incurred by or on behalf of LESSOR. If LESSEE does not reclaim such Equipment within forty-five (45) days, LESSOR has the right to sell the Equipment and deduct therefrom any amounts due under this Agreement. Should LESSEE fail to vacate the Premises pursuant to the terms of this Agreement, LESSOR may at its sole discretion, charge LESSEE a fee equivalent to four (4) times the Agreement Rent that LESSEE is paying at the time of termination plus compounded interest at two percent (2%) per month. Such sums will be pro-rated on a daily basis until such time that LESSEE vacates the Premises.