Common use of Hold Over Clause in Contracts

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 2 contracts

Samples: Commencement Date Agreement (Xenetic Biosciences, Inc.), Commencement Date Agreement (Xenetic Biosciences, Inc.)

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Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) 1.75 times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 2 contracts

Samples: Lease (Keros Therapeutics, Inc.), Lease (Keros Therapeutics, Inc.)

Hold Over. If Any holding over by Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession of this Lease shall be deemed treated as a tenant tenancy at sufferancesufferance and shall be on the terms and conditions as set forth in this Lease, and as far as applicable except that Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate use and occupancy charge an amount equal to the greater of (ax) one and one-quarter times 150% of the Basic Rental calculated (on a daily basis) at the rental rate payable under the terms of this Lease immediately prior to the expiration of the Term or (y) the fair market rent then being quoted by Landlord rental value of the Premises, in each case for the Premises or reasonably comparable space period measured from the day on which Tenant's hold-over commences and terminating on the day on which Tenant vacates the Premises. In addition, Tenant shall save Landlord, its agents and employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees from and against any and all damages which Landlord may suffer on account of Tenant's hold-over in the Building, or (b) one and one-half (1 1/2) times Premises after the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance prior termination of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions term of this Lease. Notwithstanding Nothing in the foregoing, if Landlord desires foregoing nor any other term or provision of this Lease shall be deemed to regain possession of the Premises promptly after the termination or expiration hereof and prior permit Tenant to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Lease Term. All property which remains in the Premises after the expiration or termination of this Lease shall be conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to sold, then Landlord for all damages resulting from may receive 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 failure arrears of rent or other charges payable hereunder by Tenant to vacate the Premises or Landlord and any portion thereof when required hereunderdamages to which Landlord may be entitled under this Lease and at law and in equity.

Appears in 2 contracts

Samples: Lease Agreement (Spire Corp), Lease Agreement (Spire Corp)

Hold Over. If Tenant (or anyone claiming by, through or under Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person or entity remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay a monthly rent use and occupancy charge (pro pro-rated for such portion of any partial month as Tenant (or anyone claiming by, through or under Tenant) shall remain in possession) at a rate equal to the greater of (ai) one and one-quarter times hundred fifty (150%) percent of the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the monthly amount payable as Base Rent for the twelve (12) -month period immediately preceding prior to such expiration or termination, and in either case with plus (ii) one hundred (100%) percent of all Additional Rent also payable as provided in this Lease. After Landlord’s No acceptance by Landlord of the full amount of such rent for the first month of such holding overany payment by Tenant pursuant to this Section shall constitute Tenant (or anyone claiming by, the person remaining in possession shall be deemed through or under Tenant) as a tenant at will will, but Tenant or such other person or entity shall remain a tenant at such rent and otherwise sufferance subject to all of the provisions of this Lease. Notwithstanding the foregoing, if If Landlord desires to regain possession of the Premises promptly after the termination at any time Tenant (or expiration hereof and prior to acceptance of rent for any period thereafteranyone claiming by, through or under Tenant) is holding over, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is locatedlawful means. In any case, and notwithstanding the provisions of Section 16.10(b) to the contrary, Tenant shall be liable to Landlord for all claims, liabilities, damages (including indirect and consequential damages), losses or costs (including reasonable attorneys’ fees and costs) resulting from any failure by Tenant (or anyone claiming by, through or under Tenant) to vacate the Premises or any portion thereof when required hereunder, and shall hold Landlord, its agents and employees, harmless and defend and indemnify Landlord, its agents and employees, from and against any and all claims, liabilities, damages (including indirect and consequential damages), losses or costs (including reasonable attorneys’ fees and costs) which Landlord may pay, incur or suffer on account of any such hold-over in the Premises after the expiration or earlier termination of the Term.

Appears in 2 contracts

Samples: Lease (Vigil Neuroscience, Inc.), Lease (Vigil Neuroscience, Inc.)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period does not immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate surrender the Premises or any portion thereof when required upon the expiration or earlier termination of the Lease Term, then Tenant shall automatically forfeit all rights to the Security Deposit, including the Additional Security Deposit, then being held by Landlord pursuant to this Lease the Monthly Base Rent payable by Tenant hereunder shall be increased to equal two hundred percent (200%) of the Monthly Base Rent that would have been payable pursuant to the provisions of this Lease if the Lease Term had continued during such holdover period. Such rent shall be computed by Landlord and paid by Tenant on the first day of each calendar month thereafter until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages permitted hereunder. Any such holdover shall be deemed to be a tenancy-at-sufferance and not a tenancy-at-will or tenancy from month-to-month. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Gladstone Commercial Corp)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) for the first thirty (30) days at a rate equal to 150%, and thereafter 200%, of the greater of (a) one and one-quarter times the fair market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) twelve-month period immediately preceding such expiration or termination, and in either case with all Additional Rent (which shall not be multiplied by the aforementioned percentage) also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process if a waiver of such right by Tenant is permitted by law or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all actual damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder, which shall include without limitation any costs incurred by Landlord as a result of Landlord’s failure to deliver the Premises in a timely fashion to another tenant due to such failure by Tenant (provided, however, that in no event shall Tenant be liable for lost rents to the extent Landlord actually receives rental income with respect to the Premises).

Appears in 1 contract

Samples: Parking License Agreement (Alexion Pharmaceuticals Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro pro-rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord to, for the Premises or reasonably comparable space in the Buildingfirst thirty (30) days, or (b) one and one-half (1 1/2) times 150% of the amount payable as monthly Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and a rate equal to 200% of the same thereafter, and in either each case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 1 contract

Samples: Commencement Date Agreement (Cyteir Therapeutics, Inc.)

Hold Over. If Tenant (or anyone claiming by, through or under Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person or entity remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay a monthly rent use and occupancy charge (pro pro-rated for such portion of any partial month as Tenant (or anyone claiming by, through or under Tenant) shall remain in possession) at a rate equal to one hundred fifty (150%) percent of the greater of (a) one and one-quarter times the market rent then being quoted by Landlord Rent payable for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) last month period immediately preceding prior to such expiration or earlier termination. No acceptance by Landlord of any payment by Tenant pursuant to this Section shall constitute Tenant (or anyone claiming by, and in either case with all Additional Rent also payable through or under Tenant) as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will will, but Tenant or such other person or entity shall remain a tenant at such rent and otherwise sufferance subject to all of the provisions of this Lease. Notwithstanding the foregoing, if If Landlord desires to regain possession of the Premises promptly after the termination at any time Tenant (or expiration hereof and prior to acceptance of rent for any period thereafteranyone claiming by, through or under Tenant) is holding over, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is locatedlawful means. In any case, and notwithstanding the provisions of Section 16.10(b) to the contrary, Tenant shall be liable to Landlord for all damages claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) resulting from any failure by Tenant (or anyone claiming by, through or under Tenant) to vacate the Premises or any portion thereof when required hereunder, and shall hold Landlord, its agents and employees, harmless and defend and indemnify Landlord, its agents and employees, from and against any and all claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) which Landlord may pay, incur or suffer on account of any such hold-over in the Premises after the expiration or earlier termination of the Term.

Appears in 1 contract

Samples: SQZ Biotechnologies Co

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) (a) for the first month of such holdover, at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination and (b) thereafter, at a rate equal to two (2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case together with all Additional additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderwithin the first month after the expiration or earlier termination of the Term.

Appears in 1 contract

Samples: Commencement Date Agreement (Synageva Biopharma Corp)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro pro-rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-a half (1 1/21.5x) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or terminationtermination for the first thirty (30) days and then two (2) times such amount thereafter, and in either case (a) or (b), with all Additional Rent also payable as provided in this Lease. After LandlordXxxxxxxx’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 1 contract

Samples: Commencement Date Agreement (Curis Inc)

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Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then then, without limiting Landlord’s other rights and remedies remedies, the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of Information redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been separately filed with the Commission. any partial month as Tenant shall remain in possession) at a rate equal to the greater higher of 125% for the first 30 days, and 150% thereafter, of (ax) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for rate applicable during the twelve (12) month last monthly period immediately preceding such expiration or terminationtermination or (y) the fair market rent for Base Rent (which shall be determined on a so-called “triple net” basis), and in either each case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance The foregoing provisions shall not serve as permission for Tenant or anyone claiming by, through, or under Tenant to hold-over, nor serve to extend the Term (although Tenant shall remain bound to comply with all provisions of this Lease until Tenant vacates the Premises) and Landlord shall have the right at any time after the expiration or earlier termination of this Lease to enter and possess the Premises and remove all property and persons therefrom or to require Tenant to surrender possession of the full amount of such rent for Premises as provided in this Lease upon the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all expiration or earlier termination of the provisions Term. If Tenant fails to surrender the Premises upon the expiration or termination of this Lease, Tenant agrees to indemnify, defend and hold harmless Landlord from all costs, loss, expense or liability, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and attorneys’ fees. No acceptance by Landlord of any Rent during or for any period following the expiration or termination of this Lease shall operate or be construed as an extension or renewal of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of Should Tenant remain in the Premises promptly after the termination on a month-to-month basis with Landlord’s prior and express written approval, such month-to-month tenancy may be cancelled by either party with thirty (30) days’ prior written notice or expiration hereof and prior to acceptance of rent for any such lesser time period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or as may be permitted by any legal process in force in the state where the Property is locatedLaw. In any case, Tenant shall be liable to Landlord for all damages actually resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder. The provisions of this Section 3.02 shall survive the termination or earlier expiration of this Lease.

Appears in 1 contract

Samples: Confidential Treatment Requested (Vertex Pharmaceuticals Inc / Ma)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater higher of 200% of (ax) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month last monthly period immediately preceding such expiration or terminationtermination or (y) fair market rent, and in either each case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages actually resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder; provided, however, that Tenant’s liability for damages (excluding the holdover Base Rent set forth above) during the first ninety (90) days after the expiration or earlier termination of the Lease shall be limited to Landlord’s actual lost rents and out-of-pocket costs (including, without limitation, brokerage commissions, reasonable attorneys’ fees, design costs, advertising costs and any penalties as liquidated damages that Landlord may incur) due to such holdover’s effect on a bona-fide third party’s agreement to lease or otherwise occupy the Premises.

Appears in 1 contract

Samples: Ironwood Pharmaceuticals Inc

Hold Over. If Any holding over by Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession of this Lease shall be deemed treated as a tenant tenancy at sufferancesufferance and shall be on the terms and conditions as set forth in this Lease, and as far as applicable except that Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate use and occupancy charge an amount equal to the greater of (ax) one and one-quarter times 150% of the market rent then being quoted by Landlord for Base Annual Fixed Rent calculated (on a daily basis) at the Premises or reasonably comparable space in highest rate payable under the Building, terms of this Lease or (by) one and one-half the fair market rental value of the Premises, plus in case of (1 1/2x) times the amount payable as Base Rent for the twelve or (12y) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided which Tenant is required to pay hereunder, in this Lease. After Landlord’s acceptance each case for the period measured from the day on which Tenant's hold-over commences and terminating on the day on which Tenant vacates the Premises; provided, however, that in the event Landlord and Tenant are engaged in good faith negotiation to extend the Term of the full amount Lease, then during the period of such rent negotiation following the expiration or early termination of the Lease but in no event for more than sixty (60) days after the expiration or early termination of the Lease ("the Extension Negotiation Period"), the Base Annual Fixed Rent which was in effect immediately prior to the expiration or early termination of the Lease computed on a daily basis shall continue to apply. From and after the end of the Extension Negotiation Period, if any, Tenant shall pay to Landlord as a use and occupancy charge an amount equal to the greater of (x) 150% of the Base Annual Fixed Rent calculated (on a daily basis) at the highest rate payable under the terms of this Lease or (y) the fair market rental value of the Premises, plus in the case of (x) or (y) all Additional Rent which Tenant is required to pay hereunder, in each case for the first month period measured from the day on which Xxxxxx's hold-over commences and terminating on the day on which Tenant vacates the Premises. In addition, Tenant shall save Landlord, its agents and employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees from and against any and all damages which Landlord may suffer on account of such holding over, Xxxxxx's hold-over in the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all Premises after the expiration or prior termination of the provisions term of this Lease. Notwithstanding Nothing in the foregoing, if Landlord desires foregoing nor any other term or provision of this Lease shall be deemed to regain possession of the Premises promptly after the termination or expiration hereof and prior permit Tenant to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Lease Term or require Landlord to enter into negotiations to extend the Term of the Lease. All property which remains on the Premises after the expiration or termination of this Lease shall be conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable sold, then Landlord may receive 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 or other charges payable hereunder by Xxxxxx to Landlord for all and any damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderwhich Landlord may be entitled under this Lease and at law and in equity.

Appears in 1 contract

Samples: Photoelectron Corp

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s 's other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times 125% of the fair market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times 150% of the amount payable as Base Rent for the twelve (12) -month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s 's acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, and if permitted pursuant to applicable law, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In Notwithstanding the establishment of any caseholdover tenancy following the expiration or earlier termination of the Term, if Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant fails promptly to vacate the Premises at the expiration or earlier termination of the Term, Tenant shall save Landlord harmless and indemnified against any claim, loss, cost or expense (including reasonable attorneys' fees) arising out of Tenant's failure promptly to vacate the Premises (or any portion thereof when required hereunderthereof) and upon demand pay to Landlord any actual damages or loss incurred by Landlord as a result of any delayed or terminated lease of all or part of the Premises by another party.

Appears in 1 contract

Samples: Metabolix, Inc.

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term pursuant to the terms and provisions hereof without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) for the first (1st) month of such hold over and at the full monthly rate (with no pro ration) for any portion of any month thereafter, at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or terminationtermination for the first sixty (60) days of such hold over and two (2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination thereafter, and in either case together with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderwithin thirty (30) days after the expiration or earlier termination of the Term.

Appears in 1 contract

Samples: Letter (Concert Pharmaceuticals, Inc.)

Hold Over. If Tenant (or anyone claiming by, through or under Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term or the earlier termination this Lease without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay a monthly rent use and occupancy charge (pro pro-rated for such portion of any partial month as Tenant (or anyone claiming by, through or under Tenant) shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market Fair Market Rent for the Premises (which, notwithstanding anything to the contrary contained in this Lease, shall be deemed the rent then being quoted by Landlord for the Premises (or reasonably any portion thereof) or comparable space in the Building, if the Premises (or any portion thereof) or any such space is then being marketed by Landlord), or (b) one hundred and one-half fifty percent (1 1/2150%) times of the monthly amount payable as Base Rent for the twelve (12) -month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s No acceptance by Landlord of the full amount of such rent for the first month of such holding overany payment by Tenant pursuant to this Section shall constitute Tenant (or anyone claiming by, the person remaining in possession shall be deemed through or under Tenant) as a tenant at will will, but Tenant or such other person or entity shall remain a tenant at such rent and otherwise sufferance subject to all of the provisions of this Lease. Notwithstanding the foregoing, if If Landlord desires to regain possession of the Premises promptly after the termination at any time Tenant (or expiration hereof and prior to acceptance of rent for any period thereafteranyone claiming by, through or under Tenant) is holding over, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in lawful means. Notwithstanding the state where provisions of Section 16.10(b) to the Property is located. In any casecontrary, Tenant shall be liable to Landlord for all damages claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) resulting from any failure by Tenant (or anyone claiming by, through or under Tenant) to vacate the Premises or any portion thereof when required hereunder, and shall hold Landlord, its agents and employees, harmless and defend and indemnify Landlord, its agents and employees, from and against any and all claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) which Landlord may pay, incur or suffer (i) in the event of an early termination of this Lease, on account of any such hold-over in the Premises after such early termination of this Lease, or (ii) if Landlord has notified Tenant at least ninety (90) days prior to the expiration of the Term of this Lease that Landlord has entered into a lease of all or any portion of the Premises which will commence following the expiration of the Term of this Lease and Tenant (or anyone claiming by, through or under Tenant) fails to vacate the Premises or any portion thereof upon the expiration of the Term of this Lease.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Kala Pharmaceuticals, Inc.)

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