Permitted Holdover Clause Samples

The Permitted Holdover clause defines the conditions under which a tenant may remain in the leased premises after the expiration of the lease term. Typically, this clause specifies the duration for which holdover is allowed, any increased rent or penalties that apply during the holdover period, and the rights of both landlord and tenant during this time. For example, it may allow the tenant to stay on a month-to-month basis at a higher rent until a new lease is signed or the premises are vacated. The core function of this clause is to provide a clear framework for temporary occupancy beyond the original lease term, thereby reducing uncertainty and potential disputes between landlord and tenant.
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Permitted Holdover. Notwithstanding anything to the contrary set forth in this Section 25, so long as Tenant is not in Default, Tenant shall have the right to holdover (the “Permitted Holdover”) in the Premises for up to 3 consecutive one-month periods, commencing as of the first calendar month immediately following the expiration of the Term (as the same may be extended) (the “Permitted Holdover Period”), subject to the remaining terms of this Section 25, if Tenant delivers to Landlord prior written notice of Tenant’s intent to so occupy the Premises on or before the date that is six (6) months prior to the expiration of the Term (which notice shall specify whether Tenant shall hold over for one, two or three full months). If Tenant engages in a Permitted Holdover, then during the Permitted Holdover Period, Tenant shall occupy the Premises in its as-is condition and configuration subject to all the terms and conditions of this Lease, provided that solely during the Permitted Holdover Period, Tenant shall pay an amount (calculated on a per month basis without reduction for partial months) equal to 150% of the Base Rent plus 100% of all Additional Rent due for the period immediately preceding the Permitted Holdover Period. Tenant shall not be liable for any consequential damages suffered by Landlord during the Permitted Holdover Period. If Tenant engages in a Permitted Holdover, then if Tenant fails to vacate and surrender the Premises on or prior to expiration or earlier termination of the Permitted Holdover Period, Tenant shall be deemed in holdover of the Premises and such holdover shall be subject to the provisions of the first paragraph of this Section 25. Nothing herein shall grant Tenant the right to hold over or otherwise occupy the Premises at any time following the expiration or earlier termination of the Permitted Holdover Period.
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Permitted Holdover. Notwithstanding anything to the contrary appearing in the Lease, Tenant may elect to hold over in the Leased Premises for a period up to but not exceeding two (2) months (the “Permitted Holdover Period”) by delivering written notice of such election to Landlord no later than four (4) months prior to the Termination Date, defined above. The Holdover Rate applicable during the Permitted Holdover Period shall be one hundred ten percent (110%) of the Monthly Rent applicable during the month immediately preceding the Termination Date; accordingly, the Holdover Rent applicable during the Permitted Holdover Period shall be comprised of Monthly Additional Rent, defined above, plus Monthly Rent calculated at such Holdover Rate. After the expiration of the Permitted Holdover Period, Holdover Rent shall be calculated in accordance with the terms of Paragraph 5(a) above.
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Permitted Holdover. The City may, at its option, allow Concessionaire to hold over under this Agreement on a month-to-month basis. A holdover by Concessionaire shall be deemed permitted until expiration of thirty
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Permitted Holdover. Landlord and Tenant hereby agree and acknowledge, notwithstanding any provision to the contrary contained in Article 16 of the Office Lease, that Tenant shall have the one-time right, upon written notice (the "Holdover Notice") to Landlord given not less than ninety (90) days prior to the expiration of the Lease Term, to extend the Lease Term for a period of up to one hundred eighty (180) days, which Holdover Notice shall specify the actual number of days (the "Permitted Holdover Term"), in which case Tenant shall continue to pay the Base Rent applicable during the last rental period of the Lease Term and Tenant's Share of any Direct Expenses arising or accruing during such specified Permitted Holdover Term (amount of any partial month prorated on a per diem basis). Except with respect to the Permitted Holdover Term, nothing contained in this Section 20 shall be construed as consent by Landlord to any holding over by Tenant. All of the other terms and conditions of the Lease, as amended, shall apply during the Permitted Holdover Term, including without limitation, Tenant’s obligation to pay Additional Rent, all applicable taxes and any other charges payable by Tenant pursuant to the terms of the Lease, as amended.
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Permitted Holdover. From and after the Effective Date, the existing language of Section 9.12 shall become subparagraph (a) of Section 9.12 and the following subparagraphs (b) and (c) shall be inserted at the end of Section 9.12:
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Related to Permitted Holdover

  • Permitted Transfer Notwithstanding anything in this Article 5 to the contrary, Tenant may assign its interest in this Lease or sublease all or any part of the Premises (each a “Permitted Transfer”) to a Permitted Transferee (defined below) with notice to Landlord (delivered prior to the Transfer, or in the event Tenant is prohibited from doing so by Applicable Laws or contractual obligations, then as soon as reasonably practical) but without Landlord’s prior written consent; provided, that (i) with respect to a Permitted Transfer involving an assignment of this Lease, the Permitted Transferee assumes this Lease by a written assumption agreement delivered to Landlord prior to the effective date of such Permitted Transfer (unless such prior delivery is prohibited by Applicable Laws, in which event Tenant shall deliver such assumption agreement as soon as allowed), (ii) the Permitted Transferee shall use the Premises only for the Permitted Use, (iii) the use of the Premises by the Permitted Transferee shall not violate any other agreements or leases affecting the Property, (iv) the occurrence of a Permitted Transfer shall not waive Landlord’s rights as to any subsequent Transfer, (v) the Permitted Transferee shall satisfy the Credit Requirement (defined below), and (vi) Tenant shall have given Landlord written notice at least thirty (30) day before such Transfer (unless such notice is prohibited by applicable Law, in which event Tenant shall give such notice within ten days following such Transfer). As used herein, (A) “Affiliate” means any person or entity who or which controls, is controlled by, or is under common control with Tenant, (ii) a corporation or other entity which shall be a wholly owned subsidiary of the Tenant, (iii) the parent corporation or other entity that wholly owns Tenant, or (iv) a subsidiary of such parent corporation or other entity that wholly owns Tenant, or a corporation or other entity having a majority of its ownership in common with the ownership of Tenant, or (v) a Successor corporation, limited liability company or other entity; (B) “Successor” means any (i) business entity in which or with which Tenant is merged or consolidated in accordance with applicable statutory provisions governing merger and consolidation of business entities, so long as Tenant’s obligations under this Lease are assumed by the Successor, or (ii) the successor or surviving corporation or other entity in the event of a merger or consolidation of the Tenant with another corporation, so long as Tenant’s obligations under this Lease are assumed by the Successor; (C) “Purchaser” means any person or entity who or which acquires all or substantially all of the assets or equity interests of Tenant; (D) “Permitted Transferee” means an Affiliate, Successor or Purchaser. The “Credit Requirement” shall be deemed satisfied if, as of the effective date of the Permitted Transfer, the resulting tenant under this Lease meets or exceeds all of following minimum criteria immediately following the Transfer: (i) cash on hand equal to at least Two Billion Dollars ($2,000,000,000) according to the Permitted Transferee’s most recent financial statement, determined in accordance with generally accepted accounting principles (“GAAP”), (ii) outstanding debt of not more than sixty (60%) of the Permitted Transferee’s available cash on hand (as determined pursuant to the foregoing subsection (i) according to the Permitted Transferee’s most recent financial statement, determined in accordance with GAAP, and (iii) a market capitalization equal to at least Five Billion Three Hundred Million Dollars ($5,300,000,000).

  • Permitted Acts Nothing in this Agreement shall be construed to limit the ability of the Placement Agent, its officers, directors, employees, agents, associated persons and any individual or entity “controlling,” controlled by,” or “under common control” with the Placement Agent (as those terms are defined in Rule 405 under the Securities Act) to conduct its business including without limitation the ability to pursue, investigate, analyze, invest in, or engage in investment banking, financial advisory or any other business relationship with any individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

  • Permitted License Transfers As Licensee’s business operations may be altered, expanded or diminished, licenses granted hereunder may be transferred or combined for use at an alternative or consolidated site not originally specified in the license, including transfers between Agencies (“permitted license transfers”). Licensee(s) do not have to obtain the approval of Contractor for permitted license transfers, but must give thirty (30) days prior written notice to Contractor of such move(s) and certify in writing that the Product is not in use at the prior site. There shall be no additional license or other transfer fees due Contractor, provided that: i) the maximum capacity of the consolidated machine is equal to the combined individual license capacity of all licenses running at the consolidated or transferred site (e.g., named users, seats, or MIPS); or ii) if the maximum capacity of the consolidated machine is greater than the individual license capacity being transferred, a logical or physical partition or other means of restricting access will be maintained within the computer system so as to restrict use and access to the Product to that unit of licensed capacity solely dedicated to beneficial use for Licensee. In the event that the maximum capacity of the consolidated machine is greater than the combined individual license capacity of all licenses running at the consolidated or transferred site, and a logical or physical partition or other means of restricting use is not available, the fees due Contractor shall not exceed the fees otherwise payable for a single license for the upgrade capacity.