Premises Restitution Clause Samples
The Premises Restitution clause requires a tenant to return the leased property to the landlord in a specified condition at the end of the lease term. Typically, this means the tenant must remove personal property, repair any damage beyond normal wear and tear, and restore the premises to its original or agreed-upon state. This clause ensures that the landlord receives the property in a usable condition for future tenants, minimizing disputes and potential costs related to property restoration.
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Premises Restitution. When this Contract is terminated for any cause, the TENANT shall hand over the Premises to OPAIN, personally o to whom OPAIN authorizes to receive it, according to the Certification of Commencement of Adaptations Works, without prejudice of the provisions of Clause 4.034 regarding improvements, which shall be property of AEROCIVIL, committing itself to present the fully paid utility invoices. Concerning the utilities pending for revision, the TENANT guarantees its payment through proportional provision equivalent to the average of the preceding year, according to the respective invoices.
Premises Restitution. The Parties may concur on the termination of the Contract before the agreed term in the event OPAIN requires the whole or a portion the Premises, in order to carry out works to fulfill the Concession Contract. This kind of Termination shall be applicable provided that, along with the procedure described below, the aforementioned works have such a character that prevent the complete and permanent normal use of the leased area, and that the works make the TENANT to permanently stop using the leased area. In addition to this, the Parties acknowledge beforehand that this clause shall not be applicable in the event of works that don’t demand returning the property, without prejudice of the provisions of paragraph 3.07, Clause 3 of this Agreement. In order to implement this form of termination, the procedure below shall be followed:
(i) OPAIN shall inform the TENANT about the necessity of taking back the Premises and shall propose a substitute area in the Airport, which shall be appropriate for the TENANT’S operation.
(ii) The TENANT shall inform OPAIN if the proposed area complies with reasonable purpose and operational conditions to move its operation. Said conditions shall be the same or better than those offered in the Premises.
(iii) If the TENANT does not accept the offered area to move its operation, OPAIN shall offer the TENANT another area that complies with the minimum requirements requested by the TENANT, if such area existed.
(iv) Only if OPAIN and the TENANT concur on a satisfactory area for the TENANT, the Parties shall sign a new lease contract that maintains equivalent conditions to the agreed in this Contract regarding duration and price. Regarding price, the Parties shall agree that it will only be required from the day the TENANT begins exploitation in the new area, so no compensation will be caused or paid during the time it takes the TENANT to adapt the new area.