Common use of Removal of Sublessee Property Clause in Contracts

Removal of Sublessee Property. Provided that no Event of Default then exists, in connection with the surrender of the Premises, Sublessee may upon at least five (5) business days’ prior notice to Sublessor remove from the Premises all Sublessee Property, leaving the Premises in good and presentable condition and appearance, including repair of any damage caused by such removal; provided that Sublessor shall have the right and option to purchase the non-proprietary Sublessee Personal Property (but excluding all Sublessee Intangible Property) for its then net book value during such five (5)-business day notice period, in which case Sublessee shall so convey the Sublessee Personal Property to Sublessor by executing a bxxx of sale in a form reasonably required by Sublessor. If there is any Event of Default then existing, Sublessee may not remove any Sublessee Personal Property from the Premises and instead will, on demand from Sublessor, convey it to Sublessor for application to any amounts owed by Sublessee under this Sublease at net book value, by executing a bxxx of sale in a form reasonably required by Sublessor. Title to any Sublessee Personal Property which is not removed by Sublessee as permitted above upon the expiration of the Term shall, at Sublessor’s election, vest in Sublessor; provided, however, that Sublessor may remove and store or dispose any or all of such Sublessee Personal Property which is not so removed by Sublessee without obligation or accounting to Sublessee.

Removal of Sublessee Property. Provided that no Event of Default then exists, in connection with the surrender of the Premises, Sublessee may upon at least five (5) business days’ prior notice to Sublessor remove from the Premises all Sublessee Property, leaving the Premises in good and presentable condition and appearance, including repair of any damage caused by such removal; provided that Sublessor shall have the right and option to purchase the non-proprietary Sublessee Personal Property (but excluding all Sublessee Intangible intangible Property) for its then net book value during such five (5)-business day notice period, in which case Sublessee shall so convey the Sublessee Personal Property to Sublessor by executing a bxxx of sale in a form reasonably required by Sublessor. If there is any Event of Default then existing, Sublessee may not remove any Sublessee Personal Property from the Premises and instead will, on demand from Sublessor, convey it to Sublessor for application to any amounts owed by Sublessee under this Sublease at net book value, by executing a bxxx of sale in a form reasonably required by Sublessor. Title to any Sublessee Personal Property which is not removed by Sublessee as permitted above upon the expiration of the Term shall, at Sublessor’s election, vest in Sublessor; provided, however, that Sublessor may remove and store or dispose any or all of such Sublessee Personal Property which is not so removed by Sublessee without obligation or accounting to Sublessee.

Removal of Sublessee Property. Provided that no Event of Default then exists, in connection with the surrender of the Premises, Sublessee may upon at least five (5) business days’ prior notice to Sublessor remove from the Premises all Sublessee Property, leaving the Premises in good and presentable condition and appearance, including repair of any damage caused by such removal; provided that Sublessor shall have the right and option to purchase the non-proprietary Sublessee Personal Property (but excluding all Sublessee Intangible Property) for its then net book value during such five (5)-business day notice period, in which case Sublessee shall so convey the Sublessee Personal Property to Sublessor by executing a bxxx xxxx of sale in a form reasonably required by Sublessor. If there is any Event of Default then existing, Sublessee may not remove any Sublessee Personal Property from the Premises and instead will, on demand from Sublessor, convey it to Sublessor for application to any amounts owed by Sublessee under this Sublease at net book value, by executing a bxxx xxxx of sale in a form reasonably required by Sublessor. Title to any Sublessee Personal Property which is not removed by Sublessee as permitted above upon the expiration of the Term shall, at Sublessor’s election, vest in Sublessor; provided, however, that Sublessor may remove and store or dispose any or all of such Sublessee Personal Property which is not so removed by Sublessee without obligation or accounting to Sublessee.