Overholding. Upon the expiration of this Lease by the passage of time and the Tenant remaining in possession of the Leased Premises: (a) there shall be no implied renewal or extension of this Lease; (b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month; (c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and (d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that: (a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) or (c), as the case may be; (b) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and (c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall indemnify and save harmless the Landlord from all Claims incurred by the Landlord as a result of the Tenant remaining in possession of all or part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Term.
Appears in 2 contracts
Sources: Industrial Lease (Above Food Ingredients Inc.), Industrial Lease (Above Food Ingredients Inc.)
Overholding. Upon (a) If the Tenant remains on the Property or any part thereof after the expiration or other termination of the Term: without the consent of the Landlord, no yearly or other periodic tenancy will be created but the Tenant will be bound by the terms and provisions of this Lease by the passage of time and the Tenant remaining in possession of the Leased Premises:
(a) there shall be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing except any options thereby granted to the Tenant remaining in possession, and except that Base Rent will be twice the Tenant shall be deemed notwithstanding any statutory provision or legal assumption amounts payable during the last Lease Year of the Term and subject to such additional obligations and conditions as the Landlord may impose by notice to the contraryTenant; or with the consent of the Landlord and agreement as to the Rent payable, then the tenancy will be month to be occupying month at the Leased Premises as a monthly tenantRent agreed and otherwise on the terms and conditions of this Lease excluding any options thereby granted, which monthly tenancy may be terminated by either party on thirty (30) days written at 30 days’ notice to the other; or with the consent of the Landlord but no agreement as to the Rent payable, which thirty (30) day period need not end then the tenancy will be month-to-month at a Base Rent equal to 150% of the Base Rent payable during the last Lease Year of the Term and otherwise on the last day terms and conditions of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding this Lease excluding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlordoptions thereby granted, which tenancy may be terminated by either party on at any time by the Landlord without the necessity of any least 30 days’ notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) or (c), as the case may be;other.
(b) The Landlord may recover possession of the Minimum Rent payable by Property during any period with respect to which the Tenant shall be paid monthly at a rate equal has prepaid the amounts payable under Subsection (a) and this Section in no way limits the Landlord’s rights to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months recover possession of the Term; andProperty nor does it affect any other rights of the Landlord.
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. The Tenant shall be stopped will promptly indemnify and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and hold the Landlord may plead this section in any court proceedings. The Tenant shall indemnify harmless from and save harmless the Landlord from against all Claims incurred by against the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following Property after the expiry or termination of the Term (including any compensation to any new tenant or tenants which the Landlord may elect to pay whether to offset the costs of overtime work or otherwise).
(d) The Tenant acknowledges and agrees that during any period of occupancy by the Tenant after the expiration of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and , the Tenant shall surrender continue to be bound by the Leased Premises covenants and agreements in this Lease reserved and contained on the part of the Tenant to be paid, observed and performed, subject to the Landlord on the expiry provisions of the TermSubsection (a) above.
Appears in 2 contracts
Sources: Lease (Milacron Holdings Corp.), Lease Agreement (Milacron Holdings Corp.)
Overholding. Upon If the Tenant remains in possession of the Premises after the expiration of this Lease by and without the passage execution and delivery of time a new Lease, the Landlord may re-enter and the Tenant remaining in take possession of the Leased Premises:
(a) there shall be no implied renewal Premises and remove the Tenant therefrom and the Landlord may use such force as it may deem necessary for that purpose without being liable in respect thereof or extension for any loss or damage occasioned thereby; PROVIDED THAT while the Tenant remains in possession after the expiration of this Lease;
(b) if , and the Landlord consents in writing to the Tenant remaining in possessionaccepts rent, the Tenant Tenancy, in the absence of written agreement, will be from month to month only at a rent per month equal to 1.25 times the Minimum Rent payable in respect of the month immediately preceding expiration of this Lease in each case payable in advance on the 1st day of each month and shall be deemed notwithstanding subject to all terms of this Lease, except that the tenancy will be from month to month and a tenancy from year to year will not be created by implication of law. Notwithstanding the foregoing, in the event that Tenant and Landlord are conducting negotiations in good faith for a renewal of this Lease, Tenant may remain in the Premises at the same Minimum Rent as during the last Lease Year of the Term; provided, however, upon reaching agreement with Landlord on new lease terms for the renewal, Tenant will pay, retroactively, the agreed-upon new Minimum Rent for the entire holdover period. In the event that (i) Landlord deems that Tenant is not in Landlord's reasonable judgement, bargaining in good faith; (ii) Landlord and Tenant cannot reach a mutually acceptable agreement; or (iii) Landlord, in its sole judgment, chooses to terminate negotiations, then, in any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on such event and upon thirty (30) days prior written notice to Tenant, Tenant's monthly rent shall equal 1.25 times the othermonthly amount payable as Minimum Rent during the last Lease Year of the Term, which beginning upon the expiration of the thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) or (c), as the case may be;
(b) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall indemnify and save harmless the Landlord from all Claims incurred by the Landlord as a result of the Tenant remaining in possession of all or part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Termperiod.
Appears in 2 contracts
Sources: Lease (Eddie Bauer Holdings, Inc.), Lease (Eddie Bauer Holdings, Inc.)
Overholding. Upon If Tenant remains in possession of the expiration Premises following termination of this Lease by the passage of time and the Tenant remaining in possession expiration of the Leased Premises:
(a) there shall be no implied renewal Term or extension operation of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possessionterms hereof, the with or without objection by Landlord, and without any written agreement otherwise providing, Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on upon the same terms and conditions as are contained in this Lease (including without limitationexcept as to the Term, the obligation to pay Additional Rent), save and except that:
as to Basic Rent which shall be equal to the greater of: (a) twice the Basic Rent payable in the last year of the Term and or any renewal term, or (b) the nature of then prevailing rate charged by Landlord. This provision shall not authorize Tenant to so overhold where Landlord has objected.
5.1 Basic Rent Tenant shall pay Basic Rent in the tenancy shall be as amount set out in section 17.1 (b) 1.8, without demand in advance in equal consecutive monthly instalments on the first day of each month commencing on the Commencement Date or (c), such other date as the case may be;
(b) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained specified in this Lease. The .
5.2 Additional Rent From and after the Commencement Date, or such other date specified in this Lease, at the times and in the manner provided herein, Tenant shall be stopped pay to Landlord or as Landlord shall direct, Additional Rent. Additional Rent shall include, without limitation, all charges for Utilities payable under Part 6 and forever barred from claiming any right Operating Costs and Realty Taxes payable under Part 7. Additionally, ▇▇▇▇▇▇ agrees to occupy comply with ▇▇▇▇▇▇▇▇'s reasonable practices and procedures which are introduced to reduce or control Operating Costs and Utility consumption and improve environmental footprint at the Leased Premises on terms other than Building in accordance with the Environmental Sustainability Program. In connection therewith, ▇▇▇▇▇▇ agrees to pay, as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall indemnify and save harmless the Landlord from Additional Rent, all Claims costs incurred by the Landlord as a result of any non-compliance by Tenant. Landlord shall be entitled to retain an expert to determine any non-compliance and the costs thereof.
5.3 Estimated Amounts On or before the Commencement Date and the commencement of any Fiscal Period during the Term, Landlord shall estimate acting reasonably the Realty Taxes (unless Landlord directs Tenant to pay the Realty Taxes directly to the relevant Authority in accordance with section 7.2 hereof) and Operating Costs. Tenant shall pay, upon notification of such estimates, to Landlord in equal monthly instalments in advance on the first day of each month a sum on account of Realty Taxes (as required by Landlord) and Operating Costs based on ▇▇▇▇▇▇▇▇'s estimates. Landlord may from time to time re-estimate the amount of estimated Realty Taxes and Operating Costs for the then current Fiscal Period and re-estimate the amounts payable by the Tenant remaining in possession of all or part for the remainder of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term Fiscal Period and the Tenant shall surrender change its monthly instalments to conform with the Leased Premises to the Landlord on the expiry of the Termrevised estimates.
Appears in 1 contract
Sources: Industrial Building Lease (Dirtt Environmental Solutions LTD)
Overholding. Upon the expiration of this Lease by the passage of time and 46.1 If the Tenant remaining remains in possession of the Leased Premises:
(a) Premises after the Term with the prior written consent of the Landlord but without executing a new lease, there shall be is no implied tacit renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding Lease despite any statutory provision or legal assumption presumption to the contrary, to be occupying contrary and the Tenant will occupy the Leased Premises as a Tenant from month to month at a monthly tenant, which monthly tenancy may be terminated by either party Rent payable in advance on thirty (30) days written notice the first day of each month equal to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
total of: (a) the Term and the nature 150% of the tenancy shall be as set out in section 17.1 (b) or (c), as monthly amount of Rent for the case may be;
last month of the Term; and (b) the Minimum amount of Additional Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during in the last twelve (12) months full month prior to the expiration of the Term; and
(c) , and the Tenant shall not be entitled will comply with the same terms, covenants and conditions as are in this Lease as far as they apply to take a monthly tenancy including the benefit payment of any rights of renewal, rights of first refusal, options to purchase, rights granting Rent and Additional Rent unless the Landlord has previously advised the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. The Tenant shall be stopped and forever barred from claiming any right to occupy vacate the Leased Premises on terms other than as set out in this section and which case no notice will be required. Provided further that the Landlord may plead this section at any time and in its sole discretion terminate said overholding on five (5) days prior notice to the Tenant. Notwithstanding the foregoing, nothing contained herein shall be construed to give Tenant the right to hold over at any court proceedingstime, and Landlord may exercise any and all remedies at law or in equity to recover possession of the Leased Premises, as well as any damages incurred by Landlord due to Tenant's failure to vacate the Leased Premises and deliver possession to Landlord as provided herein. The Nothing herein shall limit the liability of Tenant shall indemnify in damages or otherwise. In that regard, the Tenant acknowledges and save harmless agrees that the Landlord from all Claims incurred by will incur substantial damages in the Landlord as a result of the Tenant remaining in event that it is unable to provide vacant possession of all or part of the Leased Premises following the expiry of the Term. Nothing to future tenants in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Terma timely manner.
Appears in 1 contract
Overholding. Upon the expiration of this Lease by the passage of time and 3.12.01 If the Tenant remaining remains in possession of all or any part of the Leased Premises:
(a) Demised Premises after the expiry of the Term, whether with or without the consent of the Landlord, there shall be no implied tacit renewal or extension of this Lease. In this event, despite any present or future statutory provision or legal presumption to the contrary unless the Tenant is prohibited by a statute from agreeing not to be subject to such statutory provision or legal presumption, the Tenant shall be deemed to be occupying the Demised Premises as a monthly tenant at will, in either case on the same terms as set forth in this Lease (including the payment of Rent) so far as such terms would be applicable to a monthly tenancy, except that the monthly Airport Rent shall, for each month (in this Subsection 3.12.01 called “ that month ”) of the period after the Landlord has delivered to the Tenant a notice to vacate, be an amount equal to:
(a) if that month is within the first twelve months after the expiry of the Term, two hundred percent (200%) of the Airport Rent for the last month of the Term;
(b) if that month is a month from and including the Landlord consents in writing thirteenth calendar month after the expiry of the Term to and including the Tenant remaining in possessiontwenty-fourth calendar month after the expiry of the Term, three hundred percent (300%) of the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on Airport Rent for the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) or (c), as the case may be;
(b) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months month of the Term; and
(c) if that month is a month from and including the Tenant shall not be entitled to take twenty-fifth calendar month after the benefit expiry of any rights the Term, four hundred percent (400%) of renewal, rights the Airport Rent for the last month of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. Term.
3.12.02 The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against any and all Claims Costs incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Demised Premises following after the ‘expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the The Tenant shall surrender not make any counterclaim in any summary or other proceeding based on overholding by the Leased Premises to the Landlord on the expiry of the Term.Tenant.
Appears in 1 contract
Sources: Ground Lease
Overholding. Upon If the Tenant remains in the Leased Premises or any part thereof after the expiration of this Lease by the passage of time and the Tenant remaining in possession or other termination of the Leased PremisesTerm:
(a) there without the consent of the Landlord, no yearly or other periodic tenancy shall be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, created and the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any prior notice to the Tenant, but the Tenant shall be bound by the terms and provisions of this Lease except any options thereby granted to the Tenant and except the Basic Rent which shall be 1.50 times the rate provided for herein for the final year of the Term and subject to such additional obligations and conditions as the Landlord may impose by notice to the Tenant; andor
(db) with the Tenant shall occupy consent of the Leased Premises on Landlord and agreement as to the same terms and conditions as are contained in this Lease (including without limitationRent payable, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) month-to-month at the Rent agreed and otherwise on the terms and conditions of this Lease, but without any option to renew or (c), as for a new lease. The Landlord may recover possession of the case may be;
(b) the Minimum Rent payable by Leased Premises during any period with respect to which the Tenant shall be paid monthly at a rate equal to twice has prepaid the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Leasepayable under Subsection 14.03(a). The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against all Claims incurred by against the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following after the expiry of the Term and without the Tenant shall surrender the Leased Premises to consent of the Landlord on (including, without limitation, any compensation to any new tenant or tenants which the expiry Landlord may elect to pay whether to offset the cost of the Termovertime work or otherwise).
Appears in 1 contract
Sources: Lease Agreement (Shopify Inc.)
Overholding. (a) Upon the expiration of this Lease by the passage of time or the sooner termination of the Term and the Tenant remaining in possession of the Leased Premises:
(ai) there shall will be no implied renewal or extension of this Lease;
(bii) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall will be deemed deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) 30 days written notice to the other, which thirty (30) 30 day period need not end on the last day of a calendar month;
(ciii) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall will be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and;
(div) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
(aA) the Term and the nature of the tenancy shall be are as set out in section 17.1 (b3.4(a)(ii) or (c3.4(a)(iii), as the case may be;
(bB) the Minimum Rent payable by the Tenant shall is to be paid monthly at a rate equal to twice 150°0 of the amount of monthly Minimum Rent which it was responsible for paying to the Landlord during the last twelve (12) 12 months of the Term. Unless the Landlord has otherwise agreed in writing, such Minimum Rent will be payable by the Tenant regardless of whether or not the Landlord fails to request such Minimum Rent and/or accepts the monthly Minimum Rent which the Tenant was paying during the last 12 months of the Term; and
(cC) the Tenant shall will not be entitled to take have the benefit of any rights of renewalrenewal or extension rights, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the BuildingDevelopment, or any other personal rights personal to the Tenant and which may be contained in this Lease. .
(b) The Tenant shall be stopped is estopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The If section 3.4(a)(iii) is applicable, the Tenant shall indemnify and save harmless the Landlord from all Claims incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall may be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Term.
Appears in 1 contract
Sources: Lease Agreement (IMV Inc.)
Overholding. Upon the expiration of this Lease by the passage of time and the Tenant remaining in possession of the Leased Premises:
(a) there shall be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
(ai) the Term and the nature of the tenancy shall be as set out in section Section 17.1 (b) or (c), as the case may behe;
(bii) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(ciii) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall indemnify and save harmless the Landlord from all Claims incurred by the Landlord as a result of the Tenant remaining in possession of all or part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Term.
Appears in 1 contract
Sources: Industrial Lease (Dirtt Environmental Solutions LTD)
Overholding. Upon Despite any statutory provision or legal presumption to the expiration of this Lease by the passage of time and contrary, if the Tenant remaining remains in possession of all or any part of the Leased PremisesPremises after the expiry of the Term or any renewal or written extension of it:
(a) with the consent of the Landlord and without any further written agreement, then it shall be deemed to be a monthly Tenant at will, or
(b) without the consent of the Landlord, then it shall be deemed to be a Tenant at will and the Landlord shall be entitled to recover possession of the Premises immediately at any time without notice to the Tenant and in such peaceable or forceful manner as the Landlord deems fit. In either case, there shall be no implied tacit renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, Lease and the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, conclusively to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained set forth in this Lease (including without limitation, the obligation to pay payment of Additional Rent), save and except that:
) so far as such terms would be applicable to a monthly tenancy or a tenancy at will (a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) or (c), as the case may be;
), except that the monthly net Rent shall be the greater of: (bi) twice the Minimum aggregate of the monthly amount of the Net Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) consecutive months of the Term; and
Term or any renewal or written extension of it or (cii) 150% of the Tenant shall not be entitled to take monthly Net Rent prevailing at the benefit date of any rights such overholding for renting of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities improved premises in the Building, Building which are either identical or any other rights personal similar to the Tenant and which may be contained Premises, all as determined by the Landlord in this Leaseits sole discretion. The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against any and all Claims claims, losses, actions, suits, proceedings, causes of action, demands, damages (direct, indirect, consequential or otherwise), judgements, executions, liabilities, responsibilities, costs, charges, payments and expenses, including, without limitation, any professional and legal fees (on a solicitor and his own client basis) incurred by the Landlord as a result of the Tenant remaining in possession of in all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the after expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry or any renewal or written extension of the Termit.
Appears in 1 contract
Sources: Lease Extension Agreement (Avesta Technologies Inc)
Overholding. (a) Upon the expiration of this Lease by the passage of time and the Tenant remaining in possession of the Leased Premises:
(ai) there shall be is no implied renewal or extension of this Lease;
(bii) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall will be deemed deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) 30 days written notice to the other, which thirty (30) 30 day period need not end on the last day of a calendar month;
(ciii) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall will be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and;
(div) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including including, without limitation, the obligation to pay Percentage Rent and Additional Rent), save and except that:
(aA) the Term and the nature of the tenancy shall be are as set out in section 17.1 (b3.5(a)(ii) or (c3.5(a)(iii), as the case may be;
(bB) the Minimum Rent payable by the Tenant shall is to be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying to the Landlord during the last twelve (12) 12 months of the Term. Unless the Landlord has otherwise agreed in writing, such Minimum Rent will be payable by the Tenant regardless of whether or not the Landlord fails to request such Minimum Rent and/or accepts the monthly Minimum Rent which the Tenant was paying during the last 12 months of the Term; and
(cC) the Tenant shall will not be entitled to take have the benefit of any rights of renewalrenewal or extension rights, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the BuildingDevelopment, or any other personal rights personal to the Tenant and which may be contained in this Lease. .
(b) The Tenant shall be stopped is estopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The If section 3.5(a)(iii) is applicable, the Tenant shall indemnify and save harmless the Landlord from all Claims incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall may be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Term.
Appears in 1 contract
Sources: Lease Agreement (Ehave, Inc.)
Overholding. Upon If the Tenant remains in the Leased Premises or any part thereof after the expiration of this Lease by the passage of time and the Tenant remaining in possession or other termination of the Leased PremisesTerm:
(a) there without the consent of the Landlord, no yearly or other periodic tenancy shall be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, created and the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any prior notice to the Tenant, but the Tenant shall be bound by the terms and provisions of this Lease except any options thereby granted to the Tenant and except the Basic Rent which that be twice the greater of (i) the rate provided for herein for the final year of the Term; and (ii) the market rate for similar premises as determined by the Landlord at the time of such overholding, plus, in either case, the sum of $200.00 daily, and subject to such additional obligations and conditions as the Landlord may impose by notice to the Tenant; andor
(db) with the Tenant shall occupy consent of the Leased Premises on Landlord and agreement as to the same terms and conditions as are contained in this Lease (including without limitationRent payable, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) month-to-month at the Rent agreed and otherwise on the terms and conditions of this Lease, but without any option to renew or (c), as for a new lease. The Landlord may recover possession of the case may be;
(b) the Minimum Rent payable by Leased Premises during any period with respect to which the Tenant shall be paid monthly at a rate equal to twice has prepaid the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Leasepayable under Subsection 14.03(a). The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against all Claims incurred by against the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following after the expiry of the Term and without the Tenant shall surrender the Leased Premises to consent of the Landlord on (including, without limitation, any compensation to any new tenant or tenants which the expiry Landlord may elect to pay whether to offset the cost of the Termovertime work or otherwise).
Appears in 1 contract
Sources: Lease Agreement (Telvent Git S A)
Overholding. Upon If the Tenant remains in the Leased Premises or any part thereof after the expiration of this Lease by the passage of time and the Tenant remaining in possession or other termination of the Leased PremisesTerm:
(a) there without the consent of the Landlord, no yearly or other periodic tenancy shall be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, created and the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any prior notice to the Tenant, but the Tenant shall be bound by the terms and provisions of this Lease except any options thereby granted to the Tenant and except the Basic Rent which shall be twice the greater of: (i) the rate provided for herein for the final year of the Term; and (ii) the market rate for similar premises as determined by the Landlord at the time of such overholding, plus, in either case, the sum of $200.00 daily, and subject to such additional obligations and conditions as the Landlord may impose by notice to the Tenant; andor
(db) with the Tenant shall occupy consent of the Leased Premises on Landlord and agreement as to the same terms and conditions as are contained in this Lease (including without limitationRent payable, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) month-to-month at the Rent agreed and otherwise on the terms and conditions of this Lease but without any option to renew or (c), as for a new lease. The Landlord may recover possession of the case may be;
(b) the Minimum Rent payable by Leased Premises during any period with respect to which the Tenant shall be paid monthly at a rate equal to twice has prepaid the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Leasepayable under Subsection 14.03(a). The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against all Claims incurred by against the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following after the expiry of the Term and without the Tenant shall surrender the Leased Premises to consent of the Landlord on (including, without limitation, any compensation to any new tenant or tenants which the expiry Landlord may elect to pay whether to offset the cost of the Termovertime work or otherwise).
Appears in 1 contract
Overholding. Upon 19.01 The Tenant shall, not less than six months before the expiration of the Term of this Lease, give to the Landlord notice in writing of its intention to vacate the Premises at the end of the Term. If no such notice is given, the Landlord shall assume that the Tenant intends to vacate the Premises at the expiration of the term of this Lease. If the Tenant has not given notice of its intentions to vacate six months before the expiration of the Term, and shall continue to occupy all or part of the Premises after the expiration of this Lease by without the passage consent of time the Landlord, and without any further written agreement, then the Tenant shall be deemed to be overholding without any right to do so and the Landlord may take immediate action to recover possession of the Premises and it will be lawful for the Landlord to enter into and upon the Premises or any part thereof, in the name of the whole and to have again, repossess and enjoy the Premises as of its former state, anything in the Landlord and Tenant Act SRO 1990 or any other statute or in this Lease contain to the contrary notwithstanding. If the Tenant remains in possession of all or any part of the Premises after the expiry of the Term with the consent of the Landlord and without any further written agreement, or without the consent of the Landlord, there shall be no deemed renewal or extension of this Lease and, despite any statutory provision or legal presumption to the contrary, the Tenant shall be deemed conclusively to be occupying the Premises as a monthly Tenant at will if the Landlord consents to the Tenant remaining in possession of the Leased Premises:
(a) there shall be no implied renewal or extension of this Lease;
(b) as a Tenant at will if the Landlord consents in writing did not consent to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contraryin either case, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained set forth in this Lease including the payment of all additional rents and percentage rents if applicable, so far as such terms would be applicable to a monthly tenancy except that the monthly basic minimum rent shall be equal to one sixth (including without limitation, the obligation to pay Additional Rent), save and except that:
(a1/6th) the Term and the nature of the tenancy shall be as set out in section 17.1 annual rent payable during the last year of this Lease; one sixth (b1/6th) or (c), as the case may be;
(b) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice of the amount of monthly Minimum Rent which it was responsible Additional Rents and charges payable for paying during the last twelve year of this Lease and one sixth (12116th) months of the Term; and
(c) annual Percentage Rent if any payable for the Tenant shall not be entitled lease year immediately proceeding the last year of this Lease and all, except as to take link the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Leasetenancy. The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against any and all Claims claims incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following after the expiry of the Term. Nothing The Tenant shall not interpose or raise any counterclaim in this section any summary or other proceedings based on overholding by the Tenant, and the Landlord shall be interpreted as permitting or giving entitled to damages from the Tenant an option to stay in possession if the Landlord suffers as a result of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the TermTenant's overholding, without setoff.
Appears in 1 contract
Sources: Lease Agreement (It Staffing LTD)
Overholding. (a) Upon the expiration of this Lease by the passage of time and the Tenant remaining in possession of the Leased Premises:
(ai) there shall be is no implied renewal or extension of this Lease;
(bii) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall will be deemed deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) 30 days written notice to the other, which thirty (30) 30 day period need not end on the last day of a calendar month;
(ciii) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall will be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and;
(div) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including including, without limitation, the obligation to pay Minimum Rent and Additional Rent), save and except that:
(aA) the Term and the nature of the tenancy shall be are as set out in section 17.1 (b3.5(a)(ii) or (c3.5(a)(iii), as the case may be;
(bB) the Minimum Rent payable by the Tenant shall is to be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying to the Landlord during the last twelve (12) [*****] months of the Term. Unless the Landlord has otherwise agreed in writing, such Minimum Rent will be payable by the Tenant regardless of whether or not the Landlord fails to request such Minimum Rent and/or accepts the monthly Minimum Rent which the Tenant was paying during the last [*****] months of the Term; and
(cC) the Tenant shall will not be entitled to take have the benefit of any rights of renewalrenewal or extension rights, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the BuildingDevelopment, or any other personal rights personal to the Tenant and which may be contained in this Lease. .
(b) The Tenant shall be stopped is estopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The If section 3.5(a)(iii) is applicable, the Tenant shall indemnify and save harmless the Landlord from all Claims incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall may be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the Tenant shall surrender the Leased Premises to the Landlord on the expiry of the Term.
Appears in 1 contract
Overholding. Upon If the Tenant remains in the Leased Premises or any part thereof after the expiration of this Lease by the passage of time and the Tenant remaining in possession or other termination of the Leased PremisesTerm:
(a) there without the consent of the Landlord, no yearly or other periodic tenancy shall be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, created and the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any prior notice to the Tenant, but the Tenant shall be bound by the terms and provisions of this Lease except any options thereby granted to the Tenant and except the Basic Rent which shall be twice the greater of: (i) the rate provided for herein for the final year of the Term; and (ii) the market rate for similar premises as determined by the Landlord at the time of such overholding, and subject to such additional obligations and conditions as the Landlord may impose by notice to the Tenant; andor
(db) with the Tenant shall occupy consent of the Leased Premises on Landlord and agreement as to the same terms and conditions as are contained in this Lease (including without limitationRent payable, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) month-to-month at the Rent agreed and otherwise on the terms and conditions of this Lease, but without any option to renew or (c), as for a new lease. The Landlord may recover possession of the case may be;
(b) the Minimum Rent payable by Leased Premises during any period with respect to which the Tenant shall be paid monthly at a rate equal to twice has prepaid the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months of the Term; and
(c) the Tenant shall not be entitled to take the benefit of any rights of renewal, rights of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Leasepayable under Subsection 14.03(a). The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against all Claims incurred by against the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Premises following the expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following after the expiry of the Term and without the Tenant shall surrender the Leased Premises to consent of the Landlord on (including, without limitation, any compensation to any new tenant or tenants which the expiry Landlord may elect to pay whether to offset the cost of the Termovertime work or otherwise).
Appears in 1 contract
Overholding. Upon the expiration of this Lease by the passage of time and
3.12.01 If the Tenant remaining remains in possession of all or any part of the Leased Premises:
(a) Demised Premises after the expiry of the Term, whether with or without the consent of the Landlord, there shall be no implied tacit renewal or extension of this Lease. In this event, despite any present or future statutory provision or legal presumption to the contrary unless the Tenant is prohibited by a statute from agreeing not to be subject to such statutory provision or legal presumption, the Tenant shall be deemed to be occupying the Demised Premises as a monthly tenant at will, in either case on the same terms as set forth in this Lease (including the payment of Rent) so far as such terms would be applicable to a monthly tenancy, except that the monthly Airport Rent shall, for each month (in this Subsection 3.12.01 called “that month”) of the period after the Landlord has delivered to the Tenant a notice to vacate, be an amount equal to:
(a) if that month is within the first twelve months after the expiry of the Term, two hundred percent (200%) of the Airport Rent for the last month of the Term;
(b) if that month is a month from and including the Landlord consents in writing thirteenth calendar month after the expiry of the Term to and including the Tenant remaining in possessiontwenty-fourth calendar month after the expiry of the Term, three hundred percent (300%) of the Tenant shall be deemed notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a monthly tenant, which monthly tenancy may be terminated by either party on thirty (30) days written notice to the other, which thirty (30) day period need not end on Airport Rent for the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant shall be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Leased Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant shall occupy the Leased Premises on the same terms and conditions as are contained in this Lease (including without limitation, the obligation to pay Additional Rent), save and except that:
(a) the Term and the nature of the tenancy shall be as set out in section 17.1 (b) or (c), as the case may be;
(b) the Minimum Rent payable by the Tenant shall be paid monthly at a rate equal to twice the amount of monthly Minimum Rent which it was responsible for paying during the last twelve (12) months month of the Term; and
(c) if that month is a month from and including the Tenant shall not be entitled to take twenty-fifth calendar month after the benefit expiry of any rights the Term, four hundred percent (400%) of renewal, rights the Airport Rent for the last month of first refusal, options to purchase, rights granting the Tenant exclusive rights to carry on certain business activities in the Building, or any other rights personal to the Tenant and which may be contained in this Lease. Term.
3.12.02 The Tenant shall be stopped and forever barred from claiming any right to occupy the Leased Premises on terms other than as set out in this section and the Landlord may plead this section in any court proceedings. The Tenant shall promptly indemnify and save hold harmless the Landlord from and against any and all Claims Costs incurred by the Landlord as a result of the Tenant remaining in possession of all or any part of the Leased Demised Premises following after the ‘expiry of the Term. Nothing in this section shall be interpreted as permitting or giving the Tenant an option to stay in possession of the Leased Premises following the expiry of the Term and the The Tenant shall surrender not make any counterclaim in any summary or other proceeding based on overholding by the Leased Premises to the Landlord on the expiry of the TermTenant.
Appears in 1 contract
Sources: Ground Lease