Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer. (b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (Neuronetics, Inc.)
Surrender. Section 16.1. Tenant shall, on the last day of the Term, or upon the sooner termination of the Term, quit and surrender to Landlord the Property vacant, free of all equipment, furniture and other movable personal property of Tenant, and in good order and condition, reasonable wear and tear and damage due to casualty (asubject to the provisions of Article 7) On or condemnation (subject to the provisions of Article 8) excepted, and Tenant shall remove or demolish all of the fixtures, structures and other improvements which Landlord shall have elected to cause Tenant to remove pursuant to and in accordance with Section 5.8 hereof. Tenant's obligation to observe and perform this covenant shall survive the expiration or earlier termination of the Term.
Section 16.2. Upon the expiration of the Term, all Fixed Rent and Additional Rent and other items payable by Tenant under this Lease shall be apportioned to the date on which this Lease expires or terminates, of termination.
Section 16.3. Tenant shall return acknowledges that possession of the Premises Property must be surrendered to Landlord in at the same condition as delivered expiration or sooner termination of the Term of this Lease. Tenant agrees to Tenantindemnify Landlord against and save Landlord harmless from all costs, except for ordinary wear and tearclaims, except for Alterations not required to be removed loss or liability resulting from the failure or delay by Tenant in so surrendering the Property, including, without limitation, any claims made by any succeeding tenant founded on such failure or delay. The parties recognize and agree that the terms damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Property as aforesaid will be extremely substantial, will exceed the amount of the Fixed Rent and Additional Rent theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Property is not surrendered to Landlord upon the expiration or sooner termination of the Term of this Lease, then Tenant shall pay to Landlord, as liquidated damages for each month and except for casualty damage or other conditions that each portion of any month during which Tenant is not required to remedy under this Lease. Prior to holds over in the Property after the expiration or sooner termination of the Term of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair in addition to any damage resulting from such removal and shall restore the Property sums payable pursuant to the same condition as delivered foregoing indemnity, one hundred fifty percent (150%) of the Fixed Rent and Additional Rent which was payable under this Lease with respect to Tenant, normal wear and tear exceptedthe last month of the Term hereof. Any of Tenant’s personal property not removed as required Nothing herein contained shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell to permit Tenant to retain possession of the Property after the expiration or otherwise dispose sooner termination of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertythe Term of this Lease. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains holds over in possession of the Premises after the expiration or termination of this the Term of the Lease, Tenant’s occupancy of the Premises such holding over shall not be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate deemed to extend the Term or prevent Landlord renew this Lease, but the tenancy thereafter shall continue as a tenancy from immediate recovery month to month upon the terms and conditions of possession this Lease at the Fixed Rent and Additional Rent as herein increased. Tenant hereby knowingly and voluntarily waives the benefit of any law or statute or equitable right in effect in the Premises by summary proceedings state where the Property is located which would contravene or otherwise. Any provision limit the provisions set forth in this Lease to Section 16.3. This provision shall survive the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part expiration or earlier termination of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 2 contracts
Sources: Lease Agreement (Infocrossing Inc), Lease Agreement (Infocrossing Inc)
Surrender. (a) On the date on which last day of the term of this Lease expires Lease, including any option term, or terminatesupon the sooner termination thereof, Tenant shall return possession of peaceably and quietly surrender the Leased Premises to Landlord and all improvements thereon in the same condition as delivered at the commencement of this Lease, in good order, condition and repair, fire and other unavoidable casualty, and reasonable wear and tear excepted. All alterations, additions, improvements and fixtures which may be made or installed by either Landlord or Tenant upon the Leased Premises, shall remain the property of Landlord and shall remain upon and be surrendered with the Leased Premises as a part thereof, without disturbance, molestation or injury at the termination of the term of this Lease, whether by the elapse of time or otherwise, all without compensation or credit to Tenant, except for ordinary wear and tear, except for Alterations . Any personal property not required to be removed by Tenant shall be deemed abandoned and shall become the property of Landlord; provided, that the Landlord shall have the option to effect said removals and Tenant shall pay Landlord, on demand, the cost of removal thereof, with interest at the prime interest rate established by U.S. Bank National Association or its successors or assigns. The delivery to Landlord at the place then fixed for the payment of rent of the keys to the Leased Premises shall constitute surrender of the premises by Tenant and acceptance of the keys by Landlord shall constitute acceptance by Landlord of such surrender. Such acceptance by Landlord shall not constitute a waiver of any rights to recover damages under terms of this Lease, . This method of surrender shall not be exclusive and except for casualty damage or shall be in addition to all other conditions that Tenant is not required to remedy under methods of surrender. Anything in this Lease. Prior section to the expiration or contrary notwithstanding, at any termination of this Lease, Landlord shall have a lien upon all of the property of Tenant shall remove then located in or upon the Leased Premises to secure the payment of any amounts due from Tenant to Landlord by reason of this Lease or to secure the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise)payment of damages, and all other personal Landlord may retain possession of such property installed until payment in full of said amounts. Said lien shall not be defeated by placing such property in storage. If Tenant has not redeemed said property within ninety (90) days after the termination of said Lease, Landlord may sell such property at public or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered private sale without further notice to Tenant, normal wear and tear excepted. Any shall apply in a reasonable manner determined by Landlord the proceeds of Tenant’s personal property not removed as required shall be deemed abandoned, and sale to reduce the amounts then owed from Tenant to Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 2 contracts
Sources: Lease Agreement (Mentor Corp /Mn/), Lease Agreement (Mentor Corp /Mn/)
Surrender. (a) On Upon the date on which this Lease expires or terminates, Tenant shall return possession expiration of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage Lease Term or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or earlier termination of this Lease, Tenant shall quit and surrender to Landlord the Leased Premises, broom clean and in good order, condition and repair and otherwise in the condition and in a state of repair consistent with the requirements specified in Section 9(b) above, ordinary wear and tear and acts of Casualty Damage which Landlord is obligated to repair or replace excepted; provided, that Tenant shall remove from its personal property and any property affixed to the Property all furnitureLeased Premises or improvements, trade fixtures, equipment, wiring and cabling (unless additions or alterations to the Leased Premises which Landlord directs Tenant otherwise), to remove and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered Building caused by such removal. If Tenant shall fail to Tenantremove any property or improvements, normal wear and tear excepted. Any additions or alterations that it is obligated to remove, Landlord may cause all or any item of Tenant’s personal such property not or improvements, additions or alteration to be removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose . Tenant hereby agrees to pay all costs and expenses of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession any removal and of the repair of any damage to the Leased Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after caused by such removal. On the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject Tenant shall, in addition to the provisions of this Lease (unless clearly inapplicable)foregoing, except that deliver to Landlord all keys and combinations to locks, safes and vaults. Any and all property remaining on the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant Leased Premises after the expiration of the Lease Term or earlier termination of this Lease shall, at the option of Landlord, become the property of Landlord and Landlord may dispose of and/or remove any such property without any liability whatsoever to Tenant. Tenant’s obligation to observe and perform these covenants shall operate to extend survive the expiration of the Lease Term or prevent Landlord from immediate recovery earlier termination of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 2 contracts
Sources: Lease (Aqua Power Systems Inc.), Lease (Dirtt Environmental Solutions LTD)
Surrender. (a) On Upon the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall peaceably surrender the Property to Landlord in the same condition in which they were received from Landlord at the commencement of this Lease, except as altered as permitted or required by this Lease and except for ordinary wear and tear. Tenant shall remove from the Property prior to such termination all furnitureits property that is capable of removal without causing damage to the Property, trade fixturesand, equipmentat Tenant's expense, wiring and cabling (unless Landlord directs Tenant otherwise)shall at such times of removal, and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from caused by such removal. Property not so removed shall become the property of Landlord. Landlord may thereafter cause such property to be removed and disposition and the cost of repairing any damage caused by such removal shall be borne by Tenant. Notwithstanding anything to the contrary contained herein, upon termination of this Lease pursuant to a default by Tenant, the heating, ventilation and air conditioning systems shall remain on the Property and shall restore become the property of Landlord. Any holding over by Tenant of the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or earlier termination of the term of this Lease or any extensions thereof, with the consent of Landlord, shall operate and be construed as a tenancy from month to month only, at one hundred fifty percent (150%) of the Basic Rent reserved herein and upon the same terms and conditions as contained in this Lease. Notwithstanding the foregoing, any holding over without Landlord's consent shall entitle Landlord, in addition to collecting Basic Rent at a rate of one hundred fifty percent (150%) thereof, to exercise all rights and remedies provided by law or in equity. If Tenant fails to surrender the Property upon the termination or expiration of this Lease, Tenant’s occupancy of the Premises in addition to any other liabilities to Landlord accruing therefrom, Tenant shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable)protect, except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover perioddefend, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, indemnity and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent hold harmless Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstandingall loss, costs, attorneys' fees, damages and liabilities resulting from such failure, including, without limitation, any holdover claims made by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord any succeeding tenant founded upon such failure to exercise, without obligation to provide Tenant surrender and any notice or cure period, all of the remedies available lost profits to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termresulting therefrom.
Appears in 2 contracts
Sources: Lease Agreement (Source Interlink Companies Inc), Lease Agreement (Source Interlink Companies Inc)
Surrender. (a) On Sublessee shall at the date on which expiration or other termination of this Lease expires or terminatesSublease remove all Sublessee’s goods and effects from the Subleased Premises including, Tenant shall return possession without limitation, any furniture, fixtures, cabling and other equipment added to the Subleased Premises by Sublessee, and otherwise restore the Subleased Premises to its condition as of the Premises to Landlord in the same Sublease Commencement Date, or such better condition as delivered to Tenantthe Subleased Premises may have thereafter been placed by Sublessee, except for ordinary wear and teartear and damage by fire or other casualty thereof only excepted. In the event of the Sublessee’s failure to remove any of Sublessee’s property from the Subleased Premises, except Prime Landlord may proceed as permitted under the Sublease and/or Sublessor is hereby authorized, without liability to Sublessee for Alterations not required to be removed by Tenant by the terms of this Leaseloss or damage thereto, and except for casualty damage at the sole risk of Sublessee, to remove and store any of the property at Sublessee’s expense, or other conditions that Tenant is to retain same under Sublessor’s control or to sell at public or private sale, without notice, any or all of the property not required so removed, or to remedy assign such rights to Prime Landlord, and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. In the event of such failure to vacate the Subleased Premises on the date and as provided herein, the Sublease Rent shall, immediately and without notice, accrue and be payable at a rate equal to two hundred (200%) percent of the Sublease Rent and additional last payable during the term hereof. Sublessee shall be liable for, and shall indemnify, defend and hold Sublessor harmless from and against all damages and holdover rental obligations payable by Sublessor to Prime Landlord under the Prime Lease by reason of such holdover. Sublessee’s obligations under this Lease. Prior to Section shall survive the expiration or earlier termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferSublease.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 2 contracts
Sources: Sublease (Flex Pharma, Inc.), Sublease (Flex Pharma, Inc.)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage damage, acts of Landlord or its Agents or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125% of double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 2 contracts
Sources: Lease Agreement (PhaseBio Pharmaceuticals Inc), Lease Agreement (PhaseBio Pharmaceuticals Inc)
Surrender. Subtenant shall, on or prior to the expiration or earlier termination of this Sublease (ai) On remove all of Subtenant’s movable fixtures and movable partitions, telephone and other equipment, computer systems, trade fixtures, furniture, furnishings, and other items of personal property which are removable without material damage to the date on which this Lease expires or terminatesBuilding and any Tenant Improvements, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to TenantAlterations, except for ordinary wear and tear, except for Alterations not other items required to be removed in accordance with and subject to the Prime Lease (as incorporated herein by Tenant reference), including, without limitation under Sections 8 and 15 thereof or in the Work Letter (which is incorporated herein only as to such removal obligation) and (ii) surrender to Sublandlord the Subleased Premises, vacant, broom-clean and in good order and condition consistent with such Section 15 as incorporated herein by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior reference prior to the expiration or earlier termination of this LeaseSublease. Subtenant agrees it is fully and solely responsible for all obligations and liabilities arising under the Prime Lease with respect to any removal or restoration obligations of the “Tenant” under the Prime Lease and for the repair or restoration of the Sublease Premises or any part thereof, including, without limitation, performance of Section 15 thereof and the removal of any Tenant Improvements or Alterations required thereunder whenever installed, whether before or after the Commencement Date and whether by Prime Landlord, Sublandlord, Subtenant, or any successor or assign to or of any of the foregoing (the “Removal Obligations and Liabilities”). Subtenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise)reimburse Sublandlord for, and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenantindemnify, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoneddefend, and Landlordhold Sublandlord harmless from and against, at Tenant’s expenseany and all losses, may removedamages, storeliabilities, sell claims, costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) arising out of or otherwise dispose in connection with the Removal Obligations and Liabilities. The provisions of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant Section 21 shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after survive the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermSublease.
Appears in 2 contracts
Sources: Sublease (Wealthfront Corp), Sublease (WEALTHFRONT Corp)
Surrender. (a) On Tenant shall, at the date on which expiration of the Term, promptly quit and surrender the Premises in good order and condition and in conformity with the applicable provisions of this Lease expires Lease, excepting only reasonable wear and tear and damage by fire or terminates, other insured casualty. Tenant shall return have no right to hold over beyond the expiration of the Term and in the event Tenant shall fail to deliver possession of the Premises as herein provided, such occupancy shall not be construed to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage effect or constitute other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of than a tenancy at sufferance. Tenant’s During any period of occupancy during any holdover period beyond the expiration of the Term the amount of rent owed to Landlord by Tenant shall otherwise be subject to automatically become two hundred percent (200%) the sum of the Rent as those sums are at that time calculated under the provisions of this Lease the Lease. If Tenant fails to surrender the space within thirty (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i30) 125% days of the monthly installment termination date, Landlord may elect to automatically extend the Term for an additional month or additional year, at Landlord's option, with a Rent of Minimum Annual Rent payable for two hundred percent (200%) the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% sum of the monthly installment of Minimum Annual Rent payable for as those sums are at that time calculated under the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% provisions of the monthly installment Lease. The acceptance of Minimum Annual Rent payable for rent by Landlord or the last full month immediately preceding the holdover thereafter. No holdover failure or payment by delay of Landlord in notifying or evicting Tenant after following the expiration or sooner termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision shall not create any tenancy rights in this Lease to the contrary notwithstanding, Tenant and any holdover such payments by Tenant shall constitute a default on the part of Tenant under this Lease entitling may be applied by Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, against its costs and Tenant shall be liable for all damagesexpenses, including consequential damages, that attorney's fees incurred by Landlord suffers as a result of the such holdover. At Tenant’s advance written request, Landlord agrees to give treat Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result holdover (as opposed to a trespasser) so long as Landlord and Tenant are negotiating in good faith to extend the term of an executed lease for all or part of the Premises after the Termthis Lease.
Appears in 2 contracts
Sources: Lease Agreement (Immune Response Corp), Lease Agreement (Immune Response Corp)
Surrender. (a) Section 20.01 On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any reentry by Landlord upon the Premises, Tenant shall return possession of shall, at its sole cost and expense, quit, surrender, vacate and deliver the Premises to Landlord "broom clean" and in the same good order, condition as delivered to Tenant, and repair except for ordinary wear wear, tear and teardamage by fire or other insured casualty, together with all Improvements and Fixtures (except as otherwise provided for Alterations not required to be removed by Tenant by the terms of in this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease). Prior to the expiration or termination of this Lease, Tenant shall remove from the Real Property all furniture, trade fixtures, equipment, wiring and cabling of Tenant's Property (unless Landlord directs Tenant otherwise), excluding any of Tenants Property which is affixed or attached to the Premises) and all other personal property installed by Tenant and personal effects of all persons claiming through or its assignees or subtenants. Tenant shall repair any damage resulting from such removal under Tenant, and shall restore pay the Property cost of repairing all damage to the same condition as delivered to Tenant, normal wear Premises and tear exceptedthe Real Property occasioned by such removal. Any of Tenant’s 's Property or other personal property not removed as required which shall remain in the Premises after the termination of this Lease shall be deemed abandoned, to have been abandoned and Landlord, at Tenant’s expense, either may remove, store, sell be retained by Landlord as its property or otherwise dispose may be disposed of such property in such manner as Landlord may see fit and/or fit. If such Tenant's Property or other personal property or any part thereof shall be sold, Landlord may receive and retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in removing or sale proceeds as its property. If Tenant does not return possession disposing of the Premises such Tenant's Property or other personal property shall be reimbursed to Landlord in the condition required under this Lease, by Tenant shall pay Landlord all resulting damages Landlord may sufferas Additional Rent on demand.
(b) Section 20.02 If Tenant remains in possession the Expiration Date or the date of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or sooner termination of this Lease shall operate fall on a day which is not a business day, then Tenant's obligations under Section 20.01 shall be performed on or prior to extend the Term immediately preceding business day.
Section 20.03 Tenant expressly waives, for itself and for any person claiming through or prevent under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of same import then in force, in connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Article.
Section 20.04 The parties recognize that the damage to Landlord resulting from immediate recovery any failure of Tenant to timely surrender possession of the Premises by summary proceedings will be substantial and will be impossible to accurately measure. Tenant agrees that if possession of the Premises is not delivered to Landlord on the Expiration Date (or otherwise. Any provision any sooner termination date), Tenant, at the option of the Landlord, shall pay to Landlord, as liquidated damages and not as a penalty and in this Lease lieu of consequential damages, a monthly rental equal to the contrary notwithstanding, any holdover by Tenant shall constitute a default on greater of (a) three (3) times the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all Fixed Rent and Additional Rent payable during the last month of the remedies available to Landlord in Term or (b) the event of a Tenant defaultthen current Fair Market Value Rent for the Premises, and Tenant shall be liable for continue to occupy the Premises subject to all damages, including consequential damages, that Landlord suffers as a result of the holdover. At other terms and conditions of this Lease insofar as the same are applicable to a month-to-month tenancy.
Section 20.05 Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice 's obligations under this Article shall survive the termination of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termthis Lease.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Ev3 Inc.)
Surrender. (a) On Tenant shall, at the date on which this Lease expires end of the Term or terminates, Tenant shall return sooner termination of Tenant’s right to possession of the Premises, promptly vacate and surrender the Premises to Landlord in good order and condition and in conformity with the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms applicable provisions of this Lease, including without limitation Article 11. Tenant shall have no right to hold over beyond the expiration of the Term, and except for casualty damage if Tenant does not vacate as required such failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other conditions than a tenancy at sufferance. During any period of occupancy beyond the expiration of the Term the amount of rent owed to Landlord by Tenant shall equal one hundred fifty percent (150%) of the sum of the Rent as those sums are at that Tenant is not required to remedy time calculated under the provisions of this Lease. Prior to The acceptance of Rent by Landlord or the failure or delay of Landlord in notifying or evicting Tenant following the expiration or sooner termination of the Term shall not create any tenancy rights in Tenant and any such payments by Tenant may be applied by Landlord against its costs and expenses, including attorneys’ fees, incurred by Landlord as a result of such holdover. The provisions of this section shall not constitute a waiver by Landlord of any right of re-entry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. In addition to the foregoing, if Tenant fails to surrender the Premises upon the expiration or sooner termination of this Lease, Tenant shall remove indemnify, defend and hold harmless Landlord from the Property all furniturecosts, trade fixturesloss, equipmentexpense or liability incurred as a result of such holdover, wiring including without limitation, claims made by any succeeding tenant and cabling (unless Landlord directs Tenant otherwise), real estate brokers’ claims and attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal Lease obligations for the period up to and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after including the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to and the provisions of this Lease (unless clearly inapplicable)Article 19, except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after survive the expiration or earlier termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 1 contract
Surrender. (a) On Upon the date on which expiration or earlier termination of this Lease expires or terminatesLease, Tenant shall return possession of peaceably leave and surrender the Leased Premises to Landlord in the same condition as delivered to Tenantin which the Leased Premises was at the Commencement Date, except for ordinary wear and tearas repaired, except for Alterations not rebuilt, restored, altered, replaced or added to as permitted or required to be removed by Tenant by the terms any provision of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or ordinary wear and tear and any Condemnation as set forth in Section 18(c) and any Casualty resulting in a termination of this Lease, Lease pursuant to Section 18(d). Tenant shall remove from the Leased Premises all Tenant’s Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed which is owned by Tenant or its assignees or subtenants. Tenant shall third parties other than Landlord, and repair any damage resulting from caused by such removal and shall restore the Property Leased Premises to good condition suitable for use of each Location as a Permitted Facility by another Person (including, without limitation, restoration of floor slabs, ceiling, walls, columns and other structural elements of the same condition as delivered to Improvements or building systems affected by installation or removal of any Tenant, normal wear and tear excepted’s Property). Any Those items of Tenant’s Property and other personal property not so removed as required prior to the expiration of this Lease or thirty (30) days after an earlier termination shall be deemed abandoned, considered abandoned and shall become the sole and exclusive property of Landlord, at Tenant’s expense, . Landlord may remove, store, sell or otherwise dispose thereafter cause such property to be removed from the Leased Premises. The cost of removing and disposing of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession and repairing any damage to any of the Leased Premises caused by such removal shall be paid by Tenant to Landlord upon demand. Landlord shall not in any manner or to any extent be obligated to reimburse Tenant for any property which becomes the condition required under property of Landlord pursuant to this Lease, Tenant Section 31. This Section 31 shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after survive the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in good condition and in the same condition as delivered to Tenantrequired by Section 12 of this Lease, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwiseotherwise or unless the parties have otherwise agreed), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed within thirty (30) days of the expiration of the Term or the earlier termination of this Lease as required shall be deemed abandoned, and in such event, Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Base Rent shall be (i) 125% of the monthly installment of Minimum Annual Monthly Base Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event under Section 22 of a Tenant defaultthis Lease, and if the holdover period extends beyond thirty (30) days, Tenant shall be also be liable for all damages, including any consequential damages, damages that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On Sublessee shall, upon the date on which termination of this Lease expires or terminates, Tenant shall return possession Sublease and in accordance with all of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Sublease and the Lease, vacate and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of surrender the Premises to Landlord Sublessor in the condition required pursuant to the Lease. Sublessee acknowledges that Sublessee shall be solely responsible for any and all restoration obligations with respect to the Premises imposed upon Sublessor as tenant under the Lease. Sublessee’s obligation to observe or perform this Leasecovenant shall survive the Expiration Date or such other date of earlier termination of this Sublease. Any personal property owned by Sublessee, Tenant if any, which shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of remain on the Premises after the expiration or early termination of this LeaseSublease and the removal of Sublessee from the Premises may, Tenantat the option of Sublessor, be deemed to have been abandoned by Sublessee, In such event, Sublessor shall have the right to either retain such personal property as its sole property or to remove and dispose of such personal property without accountability at the expense of Sublessee, as Sublessor sees fit. If Sublessee fails to remove any property or restore the Premises as required hereunder or to repair any damage caused by any such removal and/or restoration . required hereunder, then Sublessor may so remove, restore, or repair the same and Sublessee shall reimburse Sublessor for all reasonable and necessary costs Sublessor incurs therefrom. If the Premises are not surrendered upon the Expiration Date or such other date of earlier termination of this Sublease in accordance with the terms hereof, Sublessee shall and does hereby indemnify and hold Sublessor harmless from any claims or demands which may arise out of Sublessee’s continued occupancy of the Premises shall be that Premises, including all direct damages of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject Sublessor (including all sums Sublessor is required to pay under the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% terms of the monthly installment of Minimum Annual Rent payable for Lease) and any liability accruing to Lessor under the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, Lease and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of all attorney’s fees and costs associated with recovering possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermPremises.
Appears in 1 contract
Surrender. (a) 11.1 On the date on which this Lease expires Expiration Date, or terminates, Tenant shall return upon the earlier termination of the Sublease or of Subtenant’s right to possession of the Premises Premises, Subtenant will at once surrender and deliver up the Premises, together with all improvements thereon, to Landlord Sublandlord in the same good condition as delivered to Tenantand repair, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal reasonable wear and tear excepted. Any ; conditions existing because of TenantSubtenant’s personal property not removed failure to perform maintenance, repairs or replacements as required of Subtenant under this Sublease shall not be deemed abandoned“reasonable wear and tear;” conditions existing because of Master Landlord’s or Sublandlord’s failure to perform maintenance, and Landlordrepairs, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner replacements as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant Sublease or the Master Lease shall pay Landlord not be the responsibility of Subtenant under this Section 11.1. Subtenant shall surrender to Sublandlord all resulting damages Landlord may sufferkeys to the Premises and make known to Sublandlord the combination of all combination locks which Subtenant is permitted to leave on the Premises.
(b) If Tenant 11.2 In the event that Subtenant remains in possession of the Premises after (pursuant to Subtenant’s notice as provided in Section 3.1 herein) commencing the expiration or termination of this Leasedate following the Expiration Date, Tenant’s occupancy of Subtenant will not be required to remove any Alterations made in the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject prior to the provisions of this Lease (unless clearly inapplicable)Expiration Date so long as Subtenant provides to Sublandlord, except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ days prior to the Expiration Date, written consent of both Overlandlord and Master Landlord that neither Sublandlord or Subtenant shall not be required to remove any such Alterations and a release by Master Landlord in favor of Sublandlord for any restoration and surrender obligations of Sublandlord pursuant to the terms of the Master Lease. Sublandlord agrees to cooperate with Subtenant to assist Subtenant in obtaining such release of Sublandlord and any consents required of Master Landlord and Overlandlord in respect of surrender of the space by Sublandlord at the end of the Master Lease term with all Alterations and all Master Lease improvements in place. In the event Subtenant does not provide Sublandlord notice of lease with Overlandlord pursuant to Section 3.1, if Subtenant performs any prospective damages that may arise from Alterations in the Premises, Subtenant shall be obligated to remove such holdover, Alterations and restore the Premises to the condition existing as of the date of delivery of the Premises to Subtenant (including as the commencement of any Early Entry Period). All or a result of an executed lease for all or part of the Alterations, if any, permitted to remain by Sublandlord’s written consent at the end of the Term in or upon the Premises made by Subtenant shall become a part of and shall remain upon the Premises upon such termination or expiration of this Sublease without compensation, allowance or credit to Subtenant. Said right shall be exercisable by Sublandlord’s giving written notice thereof to Subtenant not less than twenty (20) days prior to such Expiration Date or more than twenty (20) days after any earlier termination. Subtenant shall repair any damage occasioned by such removal or restoration. If Sublandlord or Master Landlord requires removal of any Alteration made by Subtenant, or a portion thereof, and Subtenant does not make such removal in accordance with this Section, Sublandlord may remove the Termsame (and repair any damage occasioned thereby), and dispose thereof, or at its election, warehouse the same. Subtenant shall pay the costs of such removal, repair and warehousing on demand.
11.3 As between Sublandlord and Subtenant, Subtenant shall not be required to remove any alterations performed by Sublandlord or any other party prior to the date of delivery of the Premises (including the commencement of any Early Entry Period) or to restore the Premises to their condition prior to Sublandlord’s making of such alterations.
11.4 On the Expiration Date, or upon the earlier termination of the Sublease or of Subtenant’s right to possession of the Premises, Subtenant shall remove Subtenant’s articles of personal property and fixtures incident to Subtenant’s business (“Subtenant’s Property”); provided, however that Subtenant shall repair any injury or damage to the Premises which may result from such removal, and shall restore the Premises to the same condition as prior to the installation thereof. If Subtenant does not remove Subtenant’s Property from the Premises on or before the Expiration Date or the earlier termination of this Sublease, Sublandlord may, at its option, remove the same (and repair any damage occasioned thereby and restore the Premises as aforesaid) and dispose thereof or warehouse the same, and Subtenant shall pay the cost of such removal, repair, restoration or warehousing to Sublandlord on demand, or Sublandlord may treat said Subtenant’s Property as having been conveyed to Sublandlord with this Sublease acting as a ▇▇▇▇ of sale therefor, without further payment or credit by Sublandlord to Subtenant.
Appears in 1 contract
Surrender. (a) On SUBTENANT hereby agrees to surrender the date on which this Lease expires or terminates, Tenant shall return possession of the Leased Premises to Landlord in the same good condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenantrepair, normal wear and tear excepted. Any of Tenant’s personal property not removed as Notwithstanding anything herein to the contrary (except if required by law), SUBTENANT shall be deemed abandoned, required to have performed a Phase 1 environmental audit upon the termination or expiration of this Sublease at its sole expense. SUBTENANT shall have no right to hold over beyond the expiration of the Term and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return the event SUBTENANT shall fail to deliver possession of the Leased Premises as herein provided, such occupancy shall not be construed to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration effect or termination of this Lease, Tenant’s occupancy of the Premises shall be that of constitute other than a tenancy at sufferance. Tenant’s During any period of occupancy during any holdover period beyond the expiration of the Term the amount of rent owed to SUBLANDLORD by SUBTENANT shall otherwise be subject to automatically become one hundred fifty percent (150%) the Annual Rent as those sums are at that time calculated under the provisions of this Lease the Sublease. If SUBTENANT fails to surrender the space within thirty (unless clearly inapplicable)30) days of the termination date, except that SUBLANDLORD may elect to automatically extend the monthly installment of Minimum Term for an additional month or additional year, at SUBLANDLORD’s option, with an Annual Rent shall be of one hundred and fifty percent (i150%) 125% the sum of the monthly installment of Minimum Annual Rent payable for as those sums are at that time calculated under the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% provisions of the monthly installment Sublease. The acceptance of Minimum Annual Rent payable for rent by SUBLANDLORD or the last full month immediately preceding the holdover for the subsequent month failure or delay of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover SUBLANDLORD in notifying or payment by Tenant after evicting SUBTENANT following the expiration or sooner termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises shall not create any tenancy rights in SUBTENANT and any such payments by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover SUBTENANT may be applied by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, SUBLANDLORD against its costs and Tenant shall be liable for all damagesexpenses, including consequential damages, that Landlord suffers attorney’s fees incurred by SUBLANDLORD as a result of the such holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice The provisions of any prospective damages that may arise from such holdover, including as a result this Paragraph shall survive the expiration or sooner termination of an executed lease for all or part of the Premises after the Termthis Sublease.
Appears in 1 contract
Sources: Sublease (Dynamic Materials Corp)
Surrender. (a) 24.01 On the date on which last day of the term of this Lease expires Lease, or terminatesupon any earlier termination of this Lease, or upon any reentry by Landlord upon the Demised Premises, Tenant shall return possession of quit and surrender the Demised Premises to Landlord broom clean, in the same good order, condition as delivered to Tenant, and repair except for ordinary wear and tear, except for Alterations not required to be removed tear and damage by Tenant by the terms of this Lease, and except for casualty damage fire or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, insured casualty; Tenant shall remove from Tenant's property subject to the Property provisions of Article 14 hereof; and Tenant shall surrender to Landlord all furniturekeys to offices, trade fixtures, equipment, wiring lavatories and cabling (unless Landlord directs Tenant otherwise), mail boxes and all other personal property installed Building identification and parking cards possessed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer's employees.
(b) If 24.02 In the event Tenant remains in possession of the Demised Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate without the execution by Landlord and Tenant of a new lease, Tenant shall, at Landlord's option, be deemed to extend be occupying the Term or prevent Landlord Demised Premises as a tenant from immediate recovery month to month, at a monthly rental equal to one and one-half (1.5) times the fixed rent and additional rent payable during the last month of the term, subject to all of the other terms of this Lease insofar as the same are applicable to a month to month tenancy.
24.03 In the event Tenant remains in possession of the Demised Premises following the termination of this Lease and Landlord does not elect to treat Tenant as a month-to-month tenant as provided in the Section 24.02 above, Tenant hereby indemnifies and agrees to hold Landlord harmless from and against any loss, cost, liability, claim, damage, fine, penalty, and expense, including attorneys' fees and disbursements, resulting from such delay by summary proceedings or otherwise. Any provision Tenant in surrendering the Demised Premises upon the termination of this Lease as provided in this Lease to the contrary notwithstandingArticle 24, including without limitation, any holdover claims made by any succeeding tenant or prospective tenant based upon such delay. In the event Tenant remains in possession of the Demised Premises for any period of time following the Expiration Date, Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord be in the event of a Tenant default, and Tenant in addition to the rent provided in Section 24.02 hereof, Landlord shall be liable for entitled to all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termits rights and remedies provided in this Lease.
Appears in 1 contract
Sources: Lease (Clarus Corp)
Surrender. (a) On No later than upon the date on which this Lease expires expiration or terminatesearlier termination of the Term or Tenant's right to possession of the Premises, Tenant shall return possession of vacate and surrender the Premises to Landlord in good order and condition and in conformity with the same condition applicable provisions of this Lease, including without limitation Article 11. Tenant shall have no right to hold over beyond the expiration of the Term, and if Tenant does not vacate as delivered required such failure shall be deemed an Event of Default and Tenant's occupancy shall not be construed to effect or constitute anything other than a tenancy at sufferance. During any period of occupancy beyond the expiration or earlier termination of the Term the amount of Rent owed by Tenant. a Landlord shall be one hundred fifty percent (150%) of the Rent that would otherwise be due under this Lease, except without prorating for ordinary wear any partial month of holdover. The acceptance of Rent by Landlord or the failure or delay of Landlord in notifying or evicting Tenant following the expiration or earlier termination of the Term shall not create any tenancy rights in Tenant and tearany such payments by Tenant may be applied by Landlord against its costs and expenses, except including reasonable attorneys' fees, incurred by Landlord as a result of such holdover. The provisions of this section shall not constitute a waiver by Landlord of any right of re-entry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord's right to terminate this Lease for Alterations not required a breach of any of the terms, covenants, or obligations herein on Tenant's part to be removed performed. In addition, if Tenant fails to vacate and surrender the Premises as herein required, Tenant shall indemnify, defend and hold harmless Landlord from all costs, losses, expenses or liabilities incurred as a result of such failure, including without limitation, claims made by any succeeding tenant and real estate brokers' claims and reasonable attorneys' fees. At the end of the Term or sooner termination of Tenant's right to possession of the Premises, Tenant by shall, at Landlord's option, remove all furniture, movable trade fixtures and equipment (including telephone security and communication equipment system wiring and cabling) in a good and workmanlike manner so as not to damage the terms Premises or Building and in such manner so as not to disturb other tenants in the Building. Tenant's obligation to pay Rent and to perform all other Lease obligations for the period up to and including the expiration or earlier termination of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under the provisions of this LeaseArticle 19. Prior to sha11survive the expiration or earlier termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On Subject to the provisions of this Agreement, the Lease and the term and estate granted thereunder with respect to the Surrender Premises shall terminate and expire as of the day prior to the Effective Date (the “Surrender Date”), as fully and completely as if the Surrender Date was the date originally fixed in the Lease as the Termination Date with respect to the Surrender Premises, and Tenant shall surrender the Surrender Premises on which this the Surrender Date to Landlord as fully and completely as if the Surrender Date was the date originally fixed in the Lease expires or terminatesas the Termination Date with respect to the Surrender Premises, and Landlord shall accept the Surrender Premises on the Surrender Date, to have and to hold the same for the unexpired residue of the term of the Lease. After the Surrender Date, Tenant shall return possession have no further rights, obligations or liabilities of any kind or nature under the Lease with respect to the Surrender Premises, except as expressly provided in this Agreement. Tenant acknowledges its obligation to pay Minimum Rent, Adjusted Minimum Rent and any other charges payable by Tenant under the Lease (whether or not said sum shall have been fixed as of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior Surrender Date) applicable to the expiration or termination Surrender Premises through the Surrender Date. Upon final computation of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property Adjusted Minimum Rent due applicable to the same condition as delivered to TenantSurrender Premises, normal wear and tear excepted. Any of Tenant’s personal property not removed as required Landlord shall be deemed abandoned, and Landlordpromptly refund or credit, at TenantLandlord’s expenseoption, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertyany excess payment (if any) and Lessee shall promptly make up any underpayment (if any). If Tenant does not return possession of This provision shall survive the Premises Lease termination applicable to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferSurrender Premises.
(b) If Notwithstanding anything to the contrary contained in the Lease, on or before the Surrender Date, Tenant remains shall surrender the Surrender Premises free from all Tenant’s furniture and equipment, in possession of broom clean but otherwise as-is condition. In the event that Tenant fails to surrender the Surrender Premises after to Landlord on the expiration or termination Surrender Date in accordance with the terms of this LeaseAgreement, then Tenant’s occupancy of the Surrender Premises shall be that deemed a holdover tenancy for the period commencing on the Surrender Date to and including the date on which Tenant surrenders the Surrender Premises to Landlord in accordance with the terms of a tenancy at sufferance. Tenant’s this Agreement and such occupancy during any holdover period shall otherwise be subject to the provisions terms of Article 55 of the Lease.
(c) The effective date shall be the day Landlord, at Landlord’s sole cost and expense, completes construction of a demising wall between the Surrender Premises and the Retained Premises (the “Effective Date”), which Landlord estimates to be on or about November 1, 2008. In addition to the demising wall, Landlord, at its sole cost and expense, shall remove wallpaper where necessary, paint and carpet the Retained Premises in colors to be chosen by Tenant from Landlord’s standard paint and carpet selection charts (the “Landlord’s Work”). The Landlord’s Work shall be performed at mutually agreed upon times and Landlord shall use reasonable efforts to minimize disruption to Tenant’s use of the Retained Premises. Tenant shall cooperate with Landlord during the performance of any work hereunder by removing all wall hangings and relocating all furniture, equipment and personnel as necessary, at Tenant’s sole cost. Tenant acknowledges that it is in occupancy of the Retained Premises and hereby accepts the Retained Premises in their “AS-IS” physical condition and state of repair as of the Effective Date, subject, however, to the terms of this Lease subparagraph (unless clearly inapplicablec). Landlord shall make reasonable efforts to erect and finish the demising wall no later than November 1, 2008 and to complete Landlord’s Work no later than January 1, 2009 (as reasonably approved by Tenant and subject only to minor punch-list items). Landlord shall have no obligation to do any work, perform any services or grant any construction allowances in connection with this Agreement or the extension of the term of the Lease, except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision as set forth in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty subparagraph (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termc).
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood broom-clean condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this LeaseLandlord’s repair, maintenance and except for replacement obligations and casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by or on behalf of Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full calendar month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On 20.1 Upon the date on which last day of the term of this Lease expires Lease, or terminatesthe sooner termination thereof, Tenant shall return possession of quit and surrender the Demised Premises to Landlord in the same good order, condition as delivered to Tenantand repair, except for ordinary wear and tear; and the Demised Premises and the remainder of the Real Estate shall be free of any and all hazardous substances, except wastes or conditions and shall be in compliance with all applicable Laws of any Environmental Authority with respect to any hazardous substances or wastes for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that which Tenant is not required responsible hereunder or pursuant to remedy under this Lease. any Law.
20.2 Prior to or upon the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or sooner termination of this Lease, Tenant’s occupancy of , at its own cost and expense shall remove from the Demised Premises shall all trade fixtures, partitions, equipment, personal property, or other improvements required to be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject removed from the Demised Premises pursuant to Article 13 without injury to the provisions of this Lease (unless clearly inapplicable), except Demised Premises. All such property that is not removed from the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after Demised Premises prior to the expiration or sooner termination of this Lease shall operate be, at the election of Landlord and with absolutely no liability whatsoever to extend Tenant or any Sublessee, either (a) retained or disposed of by Landlord as its own property without any obligation whatsoever to Tenant or any Sublessee or (b) removed from the Term or prevent Landlord from immediate recovery Demised Premises and disposed of possession of by any means whatsoever by Landlord, at Tenant’s sole cost and expense.
20.3 Tenant’s obligation to observe the Premises by summary proceedings or otherwise. Any provision covenants contained in this Lease Article shall survive the expiration or sooner termination of this Lease.
20.4 Notwithstanding anything to the contrary notwithstandingcontained herein, if the last day of the term of this Lease or any holdover by Tenant renewal or extension thereof falls on Sunday, this Lease shall constitute expire at noon the preceding Saturday; if the last day of the term of this Lease or any renewal or extension thereof falls on a default Legal Holiday, this Lease shall expire at noon on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termpreceding business day.
Appears in 1 contract
Surrender. (a) On Section 22.01 Except as is herein otherwise provided, Lessee shall on the date on which this Lease expires or terminates, Tenant shall return possession last day of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage Term or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or upon any earlier termination of this Lease, Tenant shall remove from well and truly surrender and deliver up the Property all furniture, trade fixtures, equipment, wiring Demised Premises and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property Improvements to the possession and use of Lessor without fraud or delay in substantially the same order, condition as delivered to Tenantand repair they were in on the date of this Lease, normal except for (i) reasonable wear and tear exceptedand (ii) damage caused by Casualty or condemnation. Any of Tenant’s personal property not removed as required shall be deemed abandonedNotwithstanding anything contained in the Lease to the contrary, and Landlord, at Tenant’s expense, may remove, store, sell upon the expiration or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession earlier termination of the Lease, Lessee shall not be required to (i) remove or pay for the removal of any alterations, installations, additions or improvements previously made with the consent of the Lessor or (ii) make or pay for any repairs to the Demised Premises that can be performed by repainting, minor spackling, re-carpeting or other work that is typically performed by Lessors in preparation for re-letting similar premises.
Section 22.02 Unless otherwise agreed by the parties hereto in a writing executed by both parties prior to Landlord in the condition required under Expiration Date of this Lease, Tenant there shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises be no holding over by Lessee after the expiration or earlier termination of this Lease and the failure by Lessee to deliver possession of the Demised Premises to Lessor shall be an unlawful holdover. During any period in which Lessee so holds over, at Lessor's option, the rental value of the Demised Premises, payable from the date immediately following the date on which Lessee was to deliver the Demised Premises through and including the last day of the calendar month in which Lessee so delivers the Demised Premises, shall be deemed to be equal to (a) one hundred twenty-five percent (125%) of the Base Rent payable immediately preceding the expiration or earlier termination of this Lease, Tenant’s occupancy plus (b) all other items of Additional Rent that would have been otherwise payable hereunder had this Lease not expired or been terminated. Acceptance by Lessor of any such rent during the period in which Lessee so holds over shall not cure or waive Lessee's default, nor prevent Lessor from exercising, before or after such acceptance, any of the Premises shall be that remedies provided by this Lease or at law or in equity. Payment of a tenancy at sufferance. Tenant’s occupancy any such rent and other sums during any period in which Lessee holds over shall not excuse Lessee's obligation to vacate and surrender the Demised Premises on the date, and in the manner and condition, required under this Lease. Lessee waives any rights it may have under applicable law in connection with any holdover period proceedings that Lessor may institute against Lessee. Lessee's obligations under this Article shall otherwise survive the expiration or earlier termination of the Term.
Section 22.03 All trade fixtures, machinery and equipment, and other personal property of Lessee, whether attached to or built into the Demised Premises, whether by Lessor or Lessee or others, and whether at Lessor's expense, or Lessee's expense, or the joint expense of Lessor and Lessee, shall, at the option of Lessee either (i) be subject to deemed abandoned and remain the property of Lessor, or (ii) be removed by Lessee at Lessee’s sole cost and expense.
Section 22.04 The provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent Article shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or survive any termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 1 contract
Surrender. (a) On the date on which last day of the term of this Lease expires or terminates, Tenant shall return possession of upon the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or earlier termination of this Lease, Tenant shall remove from peaceably surrender the Property all furnitureLeased Premises to Landlord in good order, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise)repair, and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property condition at least equal to the same condition as when delivered to Tenant, excepting only reasonable wear and tear resulting from normal use, the damage by fire or other casualty covered by the insurance carried by Landlord. All movable fixtures, office equipment, and other personal property of Tenant shall remain the property of Tenant, and upon the expiration date or earlier termination of this Lease may be removed from the Leased Premises by Tenant, subject, however, that Tenant shall repair and restore in a good and workmanlike manner (reasonable wear and tear excepted) any damage to the Leased Premises or Building caused by such removal. Any of Tenant’s such movable fixtures, office equipment and other personal property not so removed as required shall be deemed abandoned, and Landlord, by Tenant at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises prior to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration date or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or earlier termination of this Lease shall operate to extend unless otherwise agreed become the Term or prevent Landlord from immediate recovery property of possession of the Premises by summary proceedings or otherwiseLandlord. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers All other property as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Leased Premises after attached or affixed to the Termfloor, wall or ceiling of the Leased Premises (including wall-to-wall carpeting, paneling or other wall covering) are the property of Landlord and shall remain upon and be surrendered with the Leased Premises as a part thereof at the termination of this Lease by lapse of time or otherwise, Tenant hereby waiving all rights to any payment or compensation therefor. Notwithstanding anything herein to the contrary, Tenant's surrender of the Leased Premises shall in no way affect Tenant's obligation to pay rent to the date of expiration of this Lease, whether or not the amount of such obligation has been ascertained either as of the date Tenant surrenders the Leased Premises or as of the date of expiration of this Lease.
Appears in 1 contract
Surrender. (a) On Upon the date on which this Lease expires expiration or terminatesother termination of the term, Tenant shall return possession quit and surrender to Landlord the Demised Premises, broom clean, in as good order, condition and repair as it now is or may hereafter be placed, ordinary wear and tear and damage by casualty which Tenant is not specifically obligated to restore hereunder excepted. Tenant shall remove all property of Tenant. Any property left on the Demised Premises at the expiration or other termination of this Lease, or after the happening of any of the Premises to events of default set forth in Article 18, may, at the option of Landlord, either be deemed abandoned or be placed in storage at a public warehouse in the name of and for the account of and at the expense and risk of Tenant or otherwise disposed of by Landlord in the same condition as delivered manner provided by law. Tenant expressly releases Landlord of and from any and all claims and liability for damage to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed or destruction or loss of property left by Tenant by upon the terms Demised Premises at the expiration or other termination of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless hereby indemnifies Landlord directs Tenant otherwise), against any and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal claims and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertyliability with respect thereto. If Tenant does holds over after, the term with the express consent of Landlord, such tenancy shall be from month to month only and shall not return possession of the Premises to Landlord in the condition required under this Leasebe a renewal hereof, and Tenant shall pay Landlord the rent and all resulting damages Landlord may suffer.
(b) the other charges at the same rate as herein provided and also comply with all of the terms, covenants, conditions, provisions and agreements of this Lease for the time during which Tenant holds over. If Tenant remains in possession holds over after the term without the consent of Landlord and shall fail to vacate the Demised Premises after the expiration or sooner termination of this LeaseLease for any cause or after Tenant's right to occupy same ceases, Tenant’s thereafter, and notwithstanding anything to the contrary contained elsewhere in this Lease Tenant shall be liable to Landlord for the use and occupancy of the Demised Premises shall in an amount agreed to be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable Base Monthly Rent, and all the other charges as provided in this Lease for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% the term. Tenant's obligation to observe or perform all of the monthly installment terms, covenants, conditions, provisions and agreements of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after this Article 21 shall survive the expiration or other termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 1 contract
Sources: Lease (Kabira Technologies Inc)
Surrender. (a) On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any re-entry by Landlord, Tenant shall return possession of shall, at its expense, quit, surrender, vacate and deliver the Premises to Landlord "broom clean" and in the same good order, condition and repair, ordinary wear, tear and damage by fire or other casualty excepted, together with all Improvements and Fixtures therein (except as delivered to Tenant, except otherwise provided for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of in this Lease). Tenant shall, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Leaseat its expense, Tenant shall remove from the Real Property all furniture, trade fixtures, equipment, wiring of Tenant's Property and cabling (unless Landlord directs Tenant otherwise)any personal property of persons claiming through or under Tenant, and shall repair or pay the cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant's Property or other personal property installed by Tenant or its assignees or subtenants. Tenant which shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property remain in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate be deemed to extend have been abandoned and either may be retained by Landlord as its property or may be disposed of as Landlord may see fit. If such property not so removed shall be sold, Landlord may receive and retain the Term or prevent Landlord from immediate recovery proceeds of possession such sale and apply the same, at its option, against the expenses of the Premises by summary proceedings or otherwisesale, moving and storage, arrears of rent and any damages to which Landlord may be entitled. Any provision excess proceeds shall be the property of Landlord. Any expense incurred by Landlord in removing or disposing of such property shall be reimbursed to Landlord by Tenant as Additional Rent on demand. If, during the last month of the Term, Tenant shall have removed all or substantially all of Tenant's Property from the Premises and subject to Tenant's consent, Landlord may immediately enter and alter, renovate and redecorate the Premises, without abatement of rent or liability to Tenant, provided Landlord releases Tenant from any further liability under the Lease. If the Expiration Date or the date of sooner termination of this Lease shall fall on a day which is not a business day, then Tenant's obligations under Section 24.1 shall be performed on or prior to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termimmediately preceding business day.
Appears in 1 contract
Sources: Lease Agreement (Dress Barn Inc)
Surrender. (a) On or before October 1, 2011 (the date on which this Lease expires or terminates“Surrendered Premises Expiration Date”), Tenant shall return possession surrender the portion of the Premises to Landlord located on the 12th floor of the Building as shown diagonally-hatched on Exhibit A attached hereto (the “Surrendered Premises”) as if the Surrendered Premises Expiration Date was originally set forth in the same condition Lease as delivered to Tenant, except the “Expiration Date” for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenantsSurrendered Premises. Tenant shall repair any damage resulting from such removal continue to observe and shall restore perform all of its covenants and obligations under the Property Lease (including, without limitation, the obligation to pay Fixed Rent and Additional Rent (including, without limitation, Tenant’s Labor Rate Payment)) with respect to the same condition as delivered Surrendered Premises until the occurrence of the Surrendered Premises Expiration Date. Tenant shall surrender the Surrendered Premises strictly in accordance with the provisions of the Lease, including, without limitation, Section 20.1 of the Lease. Time shall be of the essence with respect to Tenant’s obligation to surrender the Surrendered Premises on or before the Surrendered Premises Expiration Date. In the event Tenant remains in possession of all or a portion of the Surrendered Premises after the Surrendered Premises Expiration Date, normal wear and tear excepted. Any of Tenant’s personal property not removed as required Landlord shall be deemed abandonedentitled to all rights and remedies available pursuant to the Lease (including, and Landlordwithout limitation, Section 20.2 of the Lease), at Tenant’s expense, may remove, store, sell law or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferequity.
(b) If From and after the date that Tenant remains in actually surrenders possession of the Surrendered Premises after in accordance with the expiration or termination provisions of the Lease (as amended by this LeaseAgreement) (the “Actual Surrender Date”), (i) the term “Premises” wherever used in the Lease shall be deemed to exclude the Surrendered Premises, and (ii) Tenant’s occupancy of monetary obligations under the Lease with respect to the Surrendered Premises shall be released; provided, that of a tenancy at sufferance. Tenant’s occupancy during liability to pay Fixed Rent and Additional Rent, and any holdover period shall otherwise be subject and all other payments, sums or charges due or to become due with respect to the provisions Surrendered Premises pursuant to the terms of this the Lease (unless clearly inapplicableas amended by this Agreement), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover periodincluding, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstandingwithout limitation, any holdover rent payable by Tenant with respect to the Surrendered Premises, apportioned through and including the Actual Surrender Date, shall constitute a default survive the Actual Surrender Date and shall be due and payable by Tenant within ten (10) Business Days following written demand by Landlord.
(c) Landlord is currently holding Letter of Credit No. 61652972 issued by Citibank, N.A. on September 25, 2006, in an aggregate amount available for drawing equal to $1,725,000.00 (the part “Existing Letter of Tenant under this Lease entitling Landlord to exerciseCredit”). Following the Actual Surrender Date, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable entitled to a reduction in the aggregate amount available for all damagesdrawing under the Existing Letter of Credit from $1,725,000.00 to $800,000.00 (and no other changes to the Existing Letter of Credit), including consequential damages, that and Landlord suffers shall reasonably cooperate with Tenant in connection with obtaining such reduction as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including soon as a result of an executed lease for all or part of the Premises after the Termpracticable.
Appears in 1 contract
Sources: Lease (Abovenet Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling installed by or on behalf of Tenant (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant ▇▇▇▇▇▇ does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant▇▇▇▇▇▇’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that for the monthly installment first month of Minimum Annual any holdover, the Monthly Rent shall be (i) 125150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for holdover, and thereafter, the first 1 month of such holdover period, (ii) 150% of Monthly Rent shall be double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, 126390.00400/118481426v.4 04/15/2019 05:55 A4P4 any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term...
Appears in 1 contract
Sources: Lease Agreement (Penumbra Inc)
Surrender. (aA) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), equipment and all other personal property installed by Tenant or its assignees or subtenants, and unless Landlord directs otherwise, all wiring and cabling installed in the Premises by Tenant. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s 's personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s 's expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property, but such proceeds shall offset the costs in removing and selling such property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages the costs incurred by Landlord may sufferto restore the condition of the Premises.
(bB) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s 's occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s 's occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwiseotherwise except as otherwise agreed by the parties in writing. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant except as otherwise agreed by Landlord and Tenant in writing shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) Section 21.01 On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any reentry by Landlord upon the Premises, Tenant shall return possession of shall, at its sole cost and expense, quit, surrender, vacate and deliver the Premises to Landlord “broom clean” and in the same good order, condition as delivered to Tenant, and repair except for ordinary wear wear, tear and teardamage by fire or other insured casualty, together with all Improvements and Fixtures (except as otherwise provided for Alterations not required in this Lease). Tenant shall remove from the Real Property all of Tenant’s Property and all other personal property and personal effects of all persons claiming through or under Tenant, and shall pay the cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant’s property or other personal property which shall remain in the Premises after the termination of this Lease shall be removed deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of in such a manner as Landlord may see fit. If such Tenant’s Property or other personal property or any part thereof shall be sold, Landlord may receive and retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in removing or disposing of such Tenant’s Property or other personal property shall be reimbursed to Landlord by Tenant by as Additional Rent on demand.
Section 21.02 If the terms Expiration Date or the date of sooner termination of this Lease, and except for casualty damage or other conditions that Tenant Lease shall fall on a day which is not required to remedy a business day, then Tenant's obligations under this Lease. Prior Section 21.01 shall be performed on or prior to the expiration or immediately preceding business day.
Section 21.03 If the Premises are not surrendered upon the termination of this Lease, Tenant shall remove hereby indemnifies Landlord against liability primarily and directly resulting from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed delay by Tenant in so surrendering the Premises, including any claims made by any succeeding tenant or its assignees or subtenants. Tenant shall repair any damage resulting from prospective tenant founded upon such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferdelay.
(b) If Section 21.04 In the event Tenant remains in possession of the Premises after the expiration or termination of this Lease without the execution of a new lease, Tenant, at the option of the Landlord, shall be deemed to be occupying the Premises as a tenant from month to month, at a monthly rental equal to two times the Fixed Rent and Additional Rent payable during the last month of the Term, subject to all of the other terms of this Lease insofar as the same are applicable to a month-to-month tenancy.
Section 21.05 Tenant's obligation under this Article shall survive the termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Vringo Inc)
Surrender. Effective as of June 15, 1998 (the "Surrender Date"), Interactive and Sublandlord each hereby surrenders, and Landlord and Sublandlord hereby accepts the surrender of, the Surrender Space under the Original Lease, the Interactive Prime Lease and the Interactive Sublease, as applicable. Landlord also accepts the surrender of the Surrendered Parking Spaces in accordance with the provisions of Section 10 hereof. Except for any obligations expressly set forth herein, Interactive, Sublandlord and Landlord hereby release each other as of the Surrender Date from and against any liability arising under the Original Lease, the Interactive Sublease and the Interactive Prime Lease relating to the Surrender Space which accrues after the Surrender Date, but not for any liabilities that exist as of the Surrender Date and not for any liability with respect to space subject to the Original Lease, the Interactive Sublease or the Interactive Prime Lease other than the Surrender Space. In connection with such surrender:
(a) On Landlord and Sublandlord agree that, effective upon the date on which this Lease expires or terminates, Tenant shall return possession Commencement Date of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Federal Lease, and except for casualty damage or other conditions that Tenant is not required to remedy the Base Rent otherwise owing each month under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required Original Lease shall be deemed abandoned, reduced by $13,618.13 and Landlord, at that Tenant’s expense, may remove, store, sell or otherwise dispose 's Pro Rata Share of Operating Expenses and Taxes shall be appropriately reduced to reflect such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffersurrender.
(b) If Tenant remains in possession Sublandlord and Interactive agree that, effective upon the Commencement Date of the Premises after the expiration or termination of this Federal Lease, Tenant’s occupancy the Base Rent otherwise owing each month under the Interactive Sublease shall be reduced by $15,131.25 and all other obligations of Interactive under the Interactive Sublease shall be appropriately reduced to reflect such surrender.
(c) Landlord and Interactive agree that, effective November 1, 1998, but in no event earlier than the Commencement Date under the Federal Lease, the Base Rent otherwise owing each month under the Interactive Prime Lease, after increase pursuant to Rider Three of the Premises Interactive Prime Lease, shall be that reduced by $17,653.13; the Tenant's Pro Rata Share of a tenancy at sufferanceTaxes and Operating Expenses, after increase pursuant to Rider Three of the Interactive Prime Lease, shall be appropriately reduced to reflect such surrender; and any other obligations of Landlord pursuant to Rider Three of the Interactive Prime Lease shall be appropriately reduced to reflect such surrender. Tenant’s occupancy during any holdover period In addition, each of the Original Lease, the Interactive Sublease and the Interactive Prime Lease shall otherwise be subject to deemed terminated with respect to, but only with respect to, the provisions of this Lease (unless clearly inapplicable)Surrender Space and, except as specifically provided herein, the Sublandlord and Interactive shall fully comply with all obligations of such entity that apply to such Surrender Space upon the monthly installment of Minimum Annual Rent shall be (i) 125% termination or expiration of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.existing
Appears in 1 contract
Sources: Sublease Agreement (Interactive Flight Technologies Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, and subject to Section 12 above, Tenant shall remove from the Property all furniture, trade fixtures, fixtures and equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be one hundred fifty percent (i150%) 125% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month two (2) months of such holdover period, (ii) 150% of and double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damagesdamages (to the extent that a holdover lasts more than two (2) months), that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession last day of the Premises to Landlord in Term, or upon the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or earlier termination of this Lease, Tenant shall remove from peaceably and quietly surrender the Property all furnitureLeased Premises to Landlord in good order, trade fixtures, equipment, wiring repair and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property condition at least equal to the condition of same condition as when delivered to Tenant, excepting only reasonable wear and tear resulting from normal use and damage by fire or other casualty covered by the insurance carried by Landlord. Tenant may remove its trade furniture, office supplies and movable office furniture and equipment attached to the Building provided: (1) such removal is made prior to the termination of the Term; (2) Tenant is not in default of any obligation or covenant under this Lease at the time of such removal; and (3) Tenant promptly repairs all damage caused by such removal to Landlords reasonable satisfaction except for normal wear and tear exceptedtear. Any of Tenant’s personal All other building standard property not removed as required shall be deemed abandonedat the Leased Premises (including wall-to-wall carpeting, paneling or other wall covering) and Landlordany other article attached or affixed to the floor, at Tenant’s expense, may remove, store, sell wall or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession ceiling of the Leased Premises to shall become the property of Landlord and shall remain in and be surrendered with the condition required under Leased Premises as a part thereof at the termination of this LeaseLease by lapse of time or otherwise, Tenant shall pay hereby waiving all rights to any payment or compensation therefor. If, however, Landlord all resulting damages Landlord may suffer.
(b) If so requests in writing, Tenant remains in possession of the Premises after the expiration or will, prior to termination of this Lease, remove any and all alterations, additions, fixtures, equipment and property placed or installed by it in the Leased Premises and will repair any damage caused by such removal. Notwithstanding anything herein to the contrary, Tenant’s occupancy 's surrender of the Leased Premises shall be that of a tenancy at sufferance. in no way affect Tenant’s occupancy during any holdover period shall otherwise be subject to 's obligations under the Additional Rental provisions of this Lease (unless clearly inapplicable)to the Expiration Date, except that whether or not the monthly installment amount of Minimum Annual Rent shall be (i) 125% such obligation has been ascertained either as of the monthly installment of Minimum Annual Rent payable for date Tenant surrenders the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% Leased Premises or as of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermExpiration Date.
Appears in 1 contract
Sources: Lease Agreement (Cyberonics Inc)
Surrender. (a) On Upon the date on which this Lease expires expiration of the Term or terminatesearlier termination of Tenant’s right of possession, Tenant shall return possession of surrender the Premises to Landlord in the same condition as delivered existing on the Commencement Date, subject to Tenantany Alterations or Installations permitted or required by Landlord to remain in the Premises, except for free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any person other than a Landlord Party (collectively, “Tenant HazMat Operations”), broom clean, ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, tear and except for casualty damage or other conditions that Tenant is not required by this Lease to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenantsrepair excepted. Tenant shall repair immediately return to Landlord all keys and/or access cards to parking, the Project, restrooms or all or any damage resulting from such removal and shall restore portion of the Property Premises furnished to the same condition as delivered to or otherwise procured by Tenant, normal wear and tear exceptedother than access cards for the security system which is the property of Tenant. Any of Tenant’s personal Property, Alterations and property not so removed by Tenant as permitted or required herein shall be deemed abandonedabandoned and may be stored, removed, and Landlord, disposed of by Landlord at Tenant’s expense, may remove, store, sell or otherwise dispose and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and/or disposition of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If All obligations of Tenant does hereunder not return possession fully performed as of the Premises termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the expiration or earlier termination of the Term, including, without limitation, indemnity obligations, payment obligations with respect to Landlord in Rent and obligations concerning the condition required under this Leaseand repair of the Premises. Provided that Tenant has complied with its obligations hereunder, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of not be charged any fee for elevator service, supervision, guard service, or cleaning upon Tenant’s moving into the Premises after the expiration Commencement Date, or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or earlier termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term, unless such services are requested by Tenant.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires Except as otherwise provided in Section 2(c) or terminates14(b), Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to upon the expiration or other termination of this the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Subleased Premises, vacant, broom-clean, and in the condition required under the Master Lease. In addition, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other of its personal property installed by Tenant located at or its assignees in the Subleased Premises or subtenantselsewhere in the Leased Premises or the Building. Tenant shall repair any Any damage resulting from such removal and shall restore the Property caused to the same condition Subleased Premises, the Premises or any other portions of the Building as delivered to Tenant, normal wear and tear excepted. Any a result of the removal of Tenant’s personal property not removed as required shall be deemed abandoned, repaired by Tenant at its sole cost and Landlord, at expense. Tenant’s expense, may remove, store, sell obligation to observe or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property perform this covenant shall survive the expiration or sale proceeds as its property. If Tenant does not return possession sooner termination of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferTerm.
(b) If Except for any applicable transition periods pursuant to the Transition Rights, which for purposes of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant remains in possession shall hold over and remain on the Subleased Premises or fail to remove any of the Premises after its personal property beyond the expiration or earlier termination of this LeaseSublease, such holding over shall not be deemed to be an extension of this Sublease, and, in addition to any rights Landlord may have under the terms of this Sublease, or at law or in equity, Landlord shall be entitled to recover any and all damages including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal of property or other similar costs, but excluding any special, indirect, consequential or exemplary damages and any loss of business or profits, whether or not foreseeable) suffered by Landlord as a result of Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant defaultholding over, and Tenant shall also be liable obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Rent payable on the date immediately preceding such holdover for all each day thereafter that Tenant remains in occupancy of the Subleased Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, including consequential damagesTenant shall indemnify and hold Landlord harmless from any liability, that loss, costs and expenses, including, but not limited to reasonable attorneys’ fees and holdover rent and/or other charges payable to Master Lessor for Landlord suffers as a result holding over in the Leased Premises, arising out of the holdover. At such holding over by Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On No act by Landlord shall be an acceptance of a surrender of the date on which this Premises, and no agreement to accept a surrender of the Premises shall be valid unless it is in writing and signed by Landlord. Upon termination of the Lease expires Term or terminatesearlier termination of Tenant’s right of possession, Tenant T▇▇▇▇▇ shall return possession of surrender the Premises to Landlord in the same condition as delivered to Tenantreceived, except for broom clean, ordinary wear and teartear and casualty loss and condemnation covered by Sections 16 and 17 and maintenance, except repairs and replacements that are not T▇▇▇▇▇’s obligation hereunder excepted. Tenant shall meet with Landlord for Alterations not a joint inspection of the Premises at the time of vacating. Tenant shall remove all of Tenant’s Personal Property within sixty (60) days of any termination of the Lease or Tenant’s right to possession, and any such period of required to be removed by Tenant by to complete such removal shall be considered a period of holding over and the terms of this Lease, and except for casualty damage Section 23 shall apply. Landlord can elect to retain or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlorddispose, at Tenant’s expensecost, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If any of Tenant’s Personal Property that Tenant does not return possession of remove from the Premises to Landlord in accordance with the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
foregoing provision after giving at least sixty (b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (3060) days’ prior written notice to Tenant. All obligations of Tenant hereunder not fully performed as of the termination of the Lease Term shall survive such termination, including indemnity obligations, payment obligations with respect to Operating Expenses and Taxes and all obligations concerning the condition and repair of the Premises, including Remediation of any prospective damages that may arise from Hazardous Substances as required under this Lease. If Tenant fails to perform any obligation prior to the expiration or earlier termination of this Lease, then Landlord may, but shall not be obligated to, perform such holdoverobligation and Tenant shall pay Landlord all direct out of pocket costs associated therewith, including as a result plus an administrative fee of 10% of such costs, promptly upon Landlord’s delivery to Tenant of an executed lease for all or part of the Premises after the Terminvoice therefor.
Appears in 1 contract
Sources: Lease Agreement (Canoo Inc.)
Surrender. (a) SECTION 18.01. On the date on which this Lease expires or terminates, Tenant shall return possession last day of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage Term or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or upon any earlier termination of this Lease, or upon any re-entry by Landlord upon the Premises, Tenant shall, at its own expense, quit and surrender the Premises to Landlord broom clean, in good order, condition and repair except for ordinary wear, tear and damage by fire or other insured casualty, together with all improvements which have been made upon the Premises (except as otherwise provided for in this Lease, including, but not limited to Article 9 above). Tenant shall remove from the Premises and the Building all of Tenant's Property and all furniture, trade fixtures, equipment, wiring personal property and cabling (unless Landlord directs Tenant otherwise)personal effects of all persons claiming through or under Tenant, and shall pay the cost of repairing all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered Premises and the Building occasioned by such removal. Notwithstanding anything to Tenantthe contrary contained herein, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandonedin connection with Landlord's Construction, and Landlord, at Tenant’s expense, may remove, store, sell by notice to Tenant no later than twenty (20) days prior to the Expiration Date or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or prior termination of this Lease, may require Tenant to leave any part or all of such Landlord's Construction in the Premises.
SECTION 18.02. To the extent allowed by law, Tenant expressly waives, for itself and for any person claiming through or under Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during , any rights which Tenant or any such person may have under any applicable law in connection with any holdover period shall otherwise be subject summary proceedings which Landlord may institute to enforce the provisions of this Lease (unless clearly inapplicable)Article.
SECTION 18.03. If the Premises are not surrendered at the expiration of the Term, except that such holding over without the monthly installment written consent of Minimum Annual Rent the Landlord shall be construed to be a tenancy from month to month at one-twelfth (i1/12th) 125% of an amount equal to twice the monthly installment of Minimum Annual Fixed Rent payable required to be paid by Tenant for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% lease year of the monthly installment Lease Term, together with an amount estimated by Landlord as equal to one-twelfth (1/12th) of Minimum Annual the Additional Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover periodpursuant to this Lease, and (iii) 200% of shall otherwise be on the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereaftersame terms and conditions as herein specified so far as applicable. No holdover Tenant shall indemnify Landlord against loss or payment liability resulting from delay by Tenant in so surrendering the Premises, including, but not limited to, attorneys fees and any claims made by any succeeding tenant founded on such delay. Nothing contained in this Section 18.03 shall (a) imply or be deemed to grant Tenant any right to remain in the Premises after the expiration or termination of this Lease shall operate to extend without the Term or prevent Landlord from immediate recovery execution of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstandinga new lease, (b) imply any holdover by Tenant shall constitute a default obligation on the part of Landlord to grant a new lease or (c) be construed to limit in any way any remedy that Landlord may have against Tenant as a holdover tenant, including but not limited to, resort to the summary process laws or enforcement of the foregoing indemnity obligation of Tenant.
SECTION 18.04. Tenant's obligations under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice Article shall survive the Expiration Date or cure period, all sooner termination of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termthis Lease.
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Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage damage, condemnation or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property Premises all furniture, trade fixtures, equipment, wiring and cabling and all of Tenant’s Property (unless Landlord directs Tenant otherwise), and any and all other personal property installed by Tenant or its Tenant’s assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property Premises to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any wiring or cabling or any of Tenant’s Property or any other personal property installed by Tenant’s assignees or subtenants not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the each monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written requestNotwithstanding the foregoing, Landlord agrees to give Tenant shall not be liable for consequential damages arising from any holdover unless such holdover continues for more than thirty (30) days’ prior days after written notice from Landlord indicating that Landlord is a party to a transaction involving all or a portion of any prospective the Premises and that Tenant may be liable for such consequential damages that if Tenant fails to vacate the Premises within such thirty (30) day period. For the avoidance of doubt, (i) if Tenant receives such written notice at least thirty (30) days prior to the Expiration Date, then Tenant may arise from such holdover, including be liable for consequential damages as a result of an executed lease any holdover after the Expiration Date, and (ii) if Tenant receives such written notice fifteen (15) days prior to the Expiration Date, then Tenant may be liable for all or part consequential damages as a result of the Premises holdover only if it holds over for more than fifteen (15) days after the TermExpiration Date.
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Sources: Lease Agreement (QuantumScape Corp)
Surrender. (a) On Tenant shall, at the date on which expiration or earlier termination of the Term, promptly quit and surrender the Premises in good order and condition and in conformity with the applicable provisions of this Lease expires Lease, excepting only reasonable wear and tear and damage by fire or terminates, other insured casualty. Tenant shall return have no right to hold over beyond the expiration or earlier termination of the Term and if Tenant shall fail to deliver possession of the Premises as herein provided, such occupancy shall constitute a tenancy at sufferance. During any period of occupancy beyond the expiration of the Term the amount of Rent owed to Landlord by Tenant shall automatically become one hundred fifty percent (150%) of the sum of the Rent as those sums are at that time calculated under the provisions of this Lease. If Tenant fails to surrender the space within thirty (30) days of the expiration or earlier termination date of this Lease, Landlord may elect to automatically extend the Term for an additional month or additional year, at Landlord’s option, with a Rent of one hundred fifty percent (150%) of the sum of the Rent as those sums are at that time calculated under the provisions of this Lease. The acceptance of Rent by Landlord or the failure or delay of Landlord in notifying Tenant or taking possession of the Premises following the expiration or sooner termination of the Term shall not create any tenancy rights in Tenant and any such payments by Tenant may be applied by Landlord against its costs and expenses, including attorneys’ fees, incurred by Landlord as a result of such holdover. Tenant shall also be liable to Landlord for all damage which Landlord suffers because of any holding over by Tenant, and Tenant shall indemnify Landlord against all claims made by any other tenant or prospective tenant against Landlord resulting from delay by Landlord in delivering possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms such other tenant or prospective tenant. The provisions of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to Article 25 shall survive the expiration or earlier termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
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Sources: Lease Agreement (SolarWinds, Inc.)
Surrender. (a) On Tenant shall, at the date on which this Lease expires end of the Term or terminates, Tenant shall return sooner termination of Tenant’s right to possession of the Premises, promptly vacate and surrender the Premises to Landlord in good order and condition and in conformity with the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms applicable provisions of this Lease, including without limitation Section 9. Tenant shall have no right to hold over beyond the expiration of the Term and except if Tenant does not vacate as required, Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy at sufferance. During any period of occupancy beyond the expiration of the Term the amount of rent owed to Landlord by Tenant shall automatically extend, at Landlord’s option, for casualty damage or other conditions an additional month to month at one hundred-fifty percent (150%) of the sum of the Rent as those sums are at that Tenant is not required to remedy time calculated under this the provisions of the Lease for the first month of such period and thereafter at two hundred percent (200%) of the sum of Rent as those sums are at that time calculated under the provision of the Lease. Prior to The acceptance of Rent by Landlord or the failure or delay of Landlord in notifying or evicting Tenant following the expiration or sooner termination of the Term shall not create any tenancy rights in Tenant and any such payments by Tenant may be applied by Landlord against its costs and expenses, including attorneys’ fees, incurred by Landlord as a result of such holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of re-entry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. In addition to the foregoing, if Tenant fails to surrender the Premises upon the expiration or sooner termination of this Lease, Tenant shall indemnify, defend and hold harmless Landlord from all costs, loss, expense or liability incurred as a result of such holdover, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and attorneys’ fees. At the end of the Term or sooner termination of Tenant’s right to possession of the Premises, Tenant shall, at Landlord’s option, remove from the Property all furniture, movable trade fixturesfixtures and equipment (including telephone, equipment, security and communication equipment system wiring and cabling (unless Landlord directs Tenant otherwise), cabling) in a good and all other personal property installed by Tenant workmanlike manner so as not to damage the Premises or its assignees or subtenants. Tenant shall repair any damage resulting from such removal Building and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner so as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord disturb other tenants in the condition required under this Lease, Tenant shall Building. Tenant’s obligation to pay Landlord Rent and to perform all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of other Lease obligations for the Premises after period up to and including the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to and the provisions of this Lease (unless clearly inapplicable)Section, except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after survive the expiration or earlier termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
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Sources: Lease (Inovio Pharmaceuticals, Inc.)
Surrender. (a) 19.01 - On the date on which this Lease expires last day of the term demised, or terminatesthe sooner termination thereof, Tenant shall return possession peaceably surrender the Premises broom clean, in good order, condition and repair wear and tear excepted. On or before the last day of the Premises term or the sooner termination thereof, Tenant shall, at its expense, remove its trade fixtures and signs from the Premises, and any property not removed shall be deemed abandoned and may be removed and disposed of by Landlord and the expense of such removal shall be paid to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant without any setoff for the salvage value of goods so removed. If the Premises be not surrendered at the end of the term or the sooner termination thereof, Tenant shall indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the terms Premises, including, without limitation, claims made by any succeeding Tenant founded on such delay. Tenant shall promptly surrender all keys for the Premises and Building bathrooms to Landlord at the place then fixed for payment of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Leaserent. Prior to Tenant's covenants hereunder shall survive the expiration or termination of this Lease, .
19.02 - If the Tenant shall remove from occupy the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore Premises with the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession consent of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration of this Lease and rent is accepted from said Tenant, such occupancy and payment shall be construed as an extension of this Lease for a term expiring on the last day of the month next following the month in which the said Lease expired, and occupation thereafter shall operate to extend the term of this Lease for but (1) month at a time unless other terms of such extension are made in writing and signed by the parties hereto. In such event, if either Landlord or tenant desires to terminate said occupancy at the end of any month after the termination of this Lease, Tenant’s occupancy of the Premises party so desiring to terminate the same shall be give the other party at least thirty (30) days written notice to that of a tenancy at sufferanceeffect. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default Failure on the part of the Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give such notice shall obligate it to pay rent for an additional calendar month following the month in which the Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of has vacated the Premises after the TermPremises.
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Surrender. (a) 24.01 On the date on which last day of the term of this Lease expires Lease, or terminatesupon any earlier termination of this Lease, or upon any reentry by Landlord upon the Demised Premises, Tenant shall return possession of quit and surrender the Demised Premises to Landlord broom clean, in the same good order, condition as delivered to Tenant, and repair except for ordinary wear and teartear and damage by fire or other insured casualty; Tenant shall remove Tenant's property subject to the provisions of Article 14 hereof; and Tenant shall surrender to Landlord all keys to offices, except for Alterations not required lavatories and mail boxes and all Building identification and parking cards possessed by Tenant's employees.
24.02 In the event Tenant remains in possession of the Demised Premises after the termination of this Lease without the execution by Landlord and Tenant of a new lease, Tenant shall, at Landlord's option, be deemed to be removed by Tenant by occupying the Demised Premises as a tenant from month to month, at a monthly rental equal to 150% of the fixed rent and additional rent payable during the last month of the term for the initial two (2) months of such holdover and thereafter 200% thereof, subject to all of the other terms of this Lease, and except for casualty damage or other conditions that Lease insofar as the same are applicable to a month to month tenancy.
24.03 In the event Tenant is not required to remedy under this Lease. Prior to remains in possession of the expiration or Demised Premises following the termination of this Lease, Tenant shall remove hereby indemnifies and agrees to hold Landlord harmless from the Property all furnitureand against any loss, trade fixturescost, equipmentliability, wiring and cabling (unless Landlord directs Tenant otherwise)claim, damage, fine, penalty, and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage expense, including attorneys' fees and disbursements, resulting from such removal and shall restore delay by Tenant in surrendering the Property to Demised Premises upon the same condition termination of this Lease as delivered to Tenantprovided in this Article 24, normal wear and tear exceptedincluding without limitation, any claims made by any succeeding tenant or prospective tenant based upon such delay. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of In the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If event Tenant remains in possession of the Demised Premises after for any period of time following the expiration or termination of this LeaseExpiration Date, Tenant’s occupancy of the Premises Tenant shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant in addition to the rent provided in Section 24.02 hereof, Landlord shall be liable for entitled to all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termits rights and remedies provided in this Lease.
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Surrender. (a) On Upon expiration of the date on which this Lease expires Term or terminatesearlier termination of Tenant's right of possession, Tenant shall return possession of surrender the Premises to Landlord in the same condition as delivered received, subject to Tenantany Alterations permitted by Landlord to remain in the Premises, except for free of Hazardous Materials brought upon, kept or used in or about the Premise by any person other than Landlord, its agents, employees, contractors or invitees and released of all Hazardous Materials Clearances, broom clean, ordinary wear and tear, except for Alterations not required to be removed tear and casualty loss and condemnation covered by Tenant by the terms of this Lease, Sections 18 and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants19 excepted. Tenant shall repair immediately return to Landlord all keys and/or access cards to parking, restrooms or all or any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession portion of the Premises to Landlord in the condition required under this Leasefurnished to, or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord's election, either the cost of replacing such lost access card or key or the cost of reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant's Property, Alterations and property not so Net Single-Tenant Laboratory 10505 Roselle Street/Protarch, Inc. - Page 18 removed by Tenant as permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant's expense, and Tenant waives all claims against Landlord for any damages resulting damages Landlord may suffer.
(b) If from Landlord's retention and/or disposition of such property. All obligations of Tenant remains in possession hereunder not fully performed as of the Premises after termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the expiration or earlier termination of this Leasethe Term, Tenant’s occupancy including without limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning the condition and repair of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermPremises.
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Surrender. (a) On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any re-entry by Landlord, Tenant shall return possession of shall, at its expense, quit, surrender, vacate and deliver the Premises to Landlord "broom clean" and in good order, condition and repair, ordinary wear, tear and damage by fire or other insured casualty excepted, together with all Tenant Improvements and Alterations (except as otherwise provided for in this Lease). Tenant shall, at its expense, except to the extent Landlord shall notify Tenant in writing not later than thirty (30) days prior to the Expiration Date, remove from the Building all of Tenant's Property and restore the Premises to their condition prior to the making of such improvements. Any Tenant's Property or other personal property which shall remain in the same condition as delivered to Tenant, except Premises (A) after the Expiration Date or (b) for ordinary wear and tear, except for Alterations not required to be removed by Tenant by thirty (30) days after the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required Lease shall be deemed abandoned, to have been abandoned and Landlord, at Tenant’s expense, either may remove, store, sell be retained by Landlord as its property or otherwise dispose may be disposed of such property in such manner as Landlord may see fit and/or fit. If such property not so removed shall be sold, Landlord may receive and retain the proceeds of such property or sale proceeds as and apply the same, at its property. If Tenant does not return possession option, against the expenses of the Premises sale, moving and storage, arrears of rent and any damages to which Landlord may be entitled. Any excess proceeds shall be the property of Landlord. Any expense incurred by Landlord in removing or disposing of any item that Tenant is required to remove and/or dispose of pursuant to this Section 21.01, shall be reimbursed to Landlord in the condition required by Tenant as Additional Charges on demand. The obligations of Tenant under this Section 21.01(a) shall survive the expiration or sooner termination of the Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 2201 of the Premises after the expiration or termination New York Civil Practice Law and Rules and any similar successor law of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during same import then in force in connection with any holdover period shall otherwise be subject proceedings which Landlord may institute to enforce the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermArticle.
Appears in 1 contract
Surrender. (a) On Tenant shall, at the date on which expiration of the Term, promptly quit and surrender the Premises in good order and condition and in conformity with the applicable provisions of this Lease expires Lease, excepting only reasonable wear and tear and damage by fire or terminates, other insured casualty. Tenant shall return have no right to hold over beyond the expiration of the Term and in the event Tenant shall fail to deliver possession of the Premises as herein provided, such occupancy shall not be construed to effect or constitute other than a tenancy at sufferance. During any period of occupancy beyond the expiration of the Term the amount of rent owed to Landlord by Tenant shall automatically become one hundred fifty percent (150%) of the sum of the Rent during the last month of the Term or the Renewal Term, as the case may be, for the first month of such holdover period, one hundred seventy five percent (175%) of the sum of the Rent during the last month of the Term or the Renewal Term, as the case may be, for the second month and thereafter two hundred percent (200%) of the sum of the Rent during the last month of the Term or the Renewal Term, as the case may be. The acceptance of rent by Landlord or the failure or delay of Landlord in notifying or evicting Tenant following the expiration or sooner termination of the Term shall not create any tenancy rights in Tenant and any such payments by Tenant shall be deemed liquidated damages to Landlord and not a penalty (it being understood that the same shall not prohibit Landlord from recovering damages from Tenant as provided below in this Article 27). It is further agreed that in the same condition as delivered event Tenant continues to Tenant, except holdover for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to three (3) months after the expiration or termination of this Lease, Tenant shall remove from also be liable to Landlord for any damages suffered by Landlord as result of Tenant's failure to surrender the Property all furniturePremises. Landlord agrees to treat Tenant as a tenant at sufferance. Notwithstanding anything in this Article contained to the contrary, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed the acceptance of any Fixed Rent paid by Tenant pursuant to this Paragraph 27, shall not preclude Landlord from commencing and prosecuting a holdover or its assignees eviction action or subtenantsproceeding or any action or proceeding in the nature thereof. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required The preceding sentence shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose to be an "agreement expressly providing otherwise" within the meaning of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession Section 232-c of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession Real Property Law of the Premises after the expiration or termination State of this Lease, Tenant’s occupancy New York and any successor law of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termlike import.
Appears in 1 contract
Surrender. (a) 12.1 On the date on which Expiration Date, or upon the earlier termination of this Lease expires Sublease or terminates, Tenant shall return of Subtenant’s right to possession of the Premises Sublease Premises, Subtenant will at once surrender and deliver up the Sublease Premises, together with all improvements thereon, to Landlord Sublandlord in the same as good condition and repair as when delivered to TenantSubtenant, except for ordinary reasonable wear and tear, except for Alterations not Master Landlord’s repair obligations and casualty excepted. Conditions existing because of Subtenant’s failure to perform maintenance, repairs or replacements as required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy Subtenant under this LeaseSublease shall not be deemed “reasonable wear and tear.” Subtenant shall surrender to Sublandlord all keys to the Sublease Premises and make known to Sublandlord the combination of all combination locks which Subtenant is permitted to leave on the Sublease Premises. Prior to If Subtenant exercises its Renewal Option, as defined below, then at the expiration or earlier termination of this Leasethe Renewal Term and upon request of Sublandlord, Tenant Subtenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant Sublandlord for Subtenant under this Sublease and shall repair any injury or damage resulting to the Sublease Premises which may result from such removal removal, and shall restore the Property Sublease Premises to the same condition as delivered prior to Tenant, normal wear the installation thereof.
12.2 All Alterations in or upon the Sublease Premises made by Subtenant and tear excepted. Any of Tenant’s personal property not removed or required to be removed hereunder shall become a part of and shall remain upon the Sublease Premises upon such termination without compensation, allowance or credit to Subtenant. At Sublandlord’s written request Subtenant shall restore the Sublease Premises to their condition prior to the making of such Alterations and repair any damage occasioned by such removal or restoration. Within ten (10) days after receipt of Subtenant’s request, Sublandlord shall advise Subtenant in writing as to which portions of the Alteration are required to be removed hereunder. If Sublandlord advises Subtenant in writing that Subtenant is not required to remove a particular Alteration, Subtenant shall have no obligation to remove such Alteration. If Subtenant is permitted or required to remove any Alteration or a portion thereof, and Subtenant does not complete such removal in accordance with this Section, Sublandlord may remove the same (and repair any damage occasioned thereby), and dispose thereof, or at its election, warehouse the same. Subtenant shall pay the costs of such removal, repair and warehousing on demand, plus an administrative fee equal to five percent (5%) of such costs, on demand.
12.3 Except as otherwise provided for in Section 12.1, as between Sublandlord and Subtenant, Subtenant shall not be required to remove any Alterations performed by Sublandlord prior to the Commencement Date (“Sublandlord Alterations”) or to restore the Sublease Premises to their condition prior to the making of such Sublandlord Alterations. If Sublandlord is required under the Master Lease to remove any Sublandlord Alterations performed prior to the Commencement Date, Subtenant shall permit Sublandlord to enter the Sublease Premises for a reasonable period of time prior to the expiration date of the Master Lease for the purpose of removing Sublandlord Alterations and restoring the Sublease Premises as required by the Master Lease; provided that any such entry shall be deemed abandonedsubject to Section 2.3.
12.4 On or before the Expiration Date, and Landlord, at Tenantor upon the earlier termination of the Sublease or of Subtenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return right to possession of the Sublease Premises, Subtenant shall remove Subtenant’s articles of personal property incident to Subtenant’s business which are not affixed to the Sublease Premises (“Trade Fixtures”); provided, however that Subtenant shall repair any injury or damage to the Sublease Premises which may result from such removal, and shall restore the Sublease Premises to Landlord in the same condition required under this Leaseas prior to the installation thereof. If Subtenant does not remove Subtenant’s Trade Fixtures from the Sublease Premises on or before the Expiration Date or the earlier termination of Subtenant’s right to possession, Tenant Sublandlord may, at its option, remove the same (and repair any damage occasioned thereby and restore the Sublease Premises as aforesaid) and dispose thereof or warehouse the same, and Subtenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month cost of such holdover periodremoval, repair, restoration or warehousing, plus an administrative fee equal to five percent (ii5%) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover periodcosts, and (iii) 200% to Sublandlord on demand, or Sublandlord may treat said Trade Fixtures as having been conveyed to Sublandlord with this Sublease acting as a B▇▇▇ of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exerciseSale therefor, without obligation further payment or credit by Sublandlord to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermSubtenant.
Appears in 1 contract
Sources: Sublease (Onyx Pharmaceuticals Inc)
Surrender. (a) On 20.01. Upon the date on which this Lease expires or terminates, Tenant shall return possession expiration of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage Term or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or any earlier termination of this the Lease, Tenant shall remove from Tenant’s Property and surrender the Property Demised Premises to Landlord free and clear of all furnitureliens and encumbrances, trade fixtureslettings and occupancies, equipmentin good condition, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal ordinary wear and tear and damage from the elements or other casualty or from causes beyond Tenant’s reasonable control excepted. Notwithstanding the foregoing, Tenant shall not be required to deliver up the Demised Premises free of the following liens, encumbrances, lettings and occupancies:
(a) Superior Mortgages, if any;
(b) Any of Tenant’s personal property not removed as required shall be deemed abandoned, and liens or encumbrances permitted by this Lease or consented to by Landlord, at Tenant’s expenseincluding, may removebut not limited to, storePermitted Encumbrances (as defined in the Installment Sale Agreement);
(c) Any sublease or other occupancy agreement, sell the continuation of which beyond the expiration or otherwise dispose sooner termination of such property this Lease has been consented to in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. writing by Landlord; If Tenant does not return retains possession of the Demised Premises or any part thereof after the expiration of the Term without Landlord’s prior consent, Tenant (without prejudice to any of Landlord’s other rights and remedies) shall pay Landlord an amount equal to double the immediately preceding Fixed Rent for the time Tenant thus remains in the condition required under this Leasepossession, and Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) Additional Rent for such period and damages, consequential and direct, sustained by reason of Tenant’s retention of possession. If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject holds over due to the provisions exercise of this Lease (unless clearly inapplicable)its option to purchase the Demised Premises as set forth in Article 27, except that the monthly installment of Minimum Annual Fixed Rent shall not be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, doubled and Tenant shall not be liable for all damages, including consequential damages, that Landlord suffers damages as long as a result settlement date acceptable to Landlord has been scheduled, but rather Tenant shall pay to Landlord rent at the sane monthly rental in effect during the last month of the holdover. At Tenant’s advance written request, Landlord agrees lease tern up to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, and including as a result of an executed lease for all or part of the Premises after the Termsettlement date.
Appears in 1 contract
Sources: Consent to Assignment (Bway Corp)
Surrender. (a) On No act by Landlord shall be an acceptance of a surrender of the date on which this Premises, and no agreement to accept a surrender of the Premises shall be valid unless it is in writing and signed by Landlord. Upon termination of the Lease expires Term or terminatesearlier termination of Tenant's right of possession, subject to the removal requirements set forth in Paragraph 12(d), Tenant shall return possession of surrender the Premises to Landlord in the same condition as delivered to Tenantgood usable condition, except for broom clean, ordinary wear and tear, except for Alterations not required to be removed tear and casualty loss and condemnation covered by Tenant by the terms Paragraphs 15 and 16 excepted. A minimum of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior [***] ([***]) days prior to the expiration or earlier termination of this Lease, Landlord and Tenant shall remove from coordinate a joint inspection of the Property all furniturePremises. Any Trade Fixtures, trade fixturesTenant-Made Alterations and property not removed by Tenant prior to Lease expiration or termination shall be deemed abandoned and may be stored, equipmentremoved, wiring and cabling disposed of by Landlord (unless Landlord directs Tenant otherwiseat Tenant's expense if the Lease required removal), and Tenant waives all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair claims against Landlord for any damage damages resulting from such removal Landlord's retention and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose disposition of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession fails to perform any obligation prior to the expiration or earlier termination of the Premises to Landlord in the condition required under this Lease, Landlord may, but shall not be obligated to, perform such obligation and Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If costs associated therewith, plus an administrative fee of [***]% of such costs, promptly upon Landlord's delivery to Tenant remains in possession of the Premises after an invoice therefor together with reasonably supporting documentation. The provisions of this paragraph shall survive the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or earlier termination of this Lease shall operate to extend the Term for [***] months after Lease expiration or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termtermination.
Appears in 1 contract
Surrender. (a) On Tenant shall, at the date on which this Lease expires expiration of the Term or terminates, Tenant shall return sooner termination of Tenant’s right to possession of the Premises, promptly vacate and surrender the Premises to Landlord in substantially the same order and condition as delivered to Tenant, except for ordinary and in conformity with the applicable provisions of this Lease including without limitation Sections 8 and 11, normal wear and teartear and damage from casualty or condemnation excepted. Tenant shall have no right to hold over beyond the expiration of the Term and if Tenant does not vacate as required, except for Alterations Tenant’s occupancy shall not required be construed to be removed effect or constitute anything other than a tenancy at sufferance. During any period of occupancy beyond the expiration of the Term the amount of rent owed to Landlord by Tenant shall automatically extend, at Landlord’s option, for the first additional month at one hundred fifty percent (150%) of the sum of the Rent as those sums are at that time calculated under the provisions of this Lease and thereafter for each successive month at the rate of two hundred percent (200%) of the sum of the Rent. The acceptance of Rent by Landlord or the terms failure or delay of Landlord in notifying or evicting Tenant following the expiration or sooner termination of the Term shall not create any tenancy rights in Tenant and any such payments by Tenant may be applied by Landlord against its costs and expenses, including reasonable attorneys’ fees, incurred by Landlord as a result of such holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of re-entry as set forth in this Lease, and except nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for casualty damage or other conditions that any Event of Default. In addition to the foregoing, if Tenant is not required fails to remedy under this Lease. Prior to surrender the Premises upon the expiration or sooner termination of this Lease, Tenant shall indemnify, defend and hold harmless Landlord from all costs, loss, expense or liability incurred as a result of such holdover, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and attorneys’ fees. At the end of the Term or sooner termination of Tenant’s right to possession of the Premises, Tenant shall, at Landlord’s option, remove from the Property all furniture, movable trade fixturesfixtures and equipment (including telephone, equipment, security and communication equipment system wiring and cabling cabling) in a good and workmanlike manner so as not to damage the Premises or Building (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair if any damage resulting from such removal and shall restore the Property is caused to the same condition as delivered to TenantPremises or Building, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and LandlordTenant shall, at Tenant’s expense, may remove, store, sell or otherwise dispose of repair such property damage) and in such manner so as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord disturb other tenants in the condition required under this Lease, Tenant shall Building. Tenant’s obligation to pay Landlord Rent and to perform all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of other Lease obligations for the Premises after period up to and including the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to and the provisions of this Lease (unless clearly inapplicable)Section, except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after survive the expiration or earlier termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 1 contract
Sources: Lease (Marinus Pharmaceuticals Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage damage, Taking or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise, except as otherwise provided herein), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s 's personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s 's expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s 's occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s 's occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that for the monthly installment first month of Minimum Annual any holdover, the Monthly Rent shall be (i) 125150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for holdover, and thereafter, the first 1 month of such holdover period, (ii) 150% of Monthly Rent shall be double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (electroCore, Inc.)
Surrender. (a) On the date on which last day of the term of this Lease expires Lease, including any option term, or terminatesupon the sooner termination thereof, Tenant shall return possession of peaceably and quietly surrender the Leased Premises to Landlord and all improvements thereon in the same condition as delivered at the commencement of this Lease, in good order, condition and repair, fire and other unavoidable casualty, and reasonable wear and tear excepted. Except as provided in Section 3.5, all alterations, additions, improvements and fixtures which may be made or installed by either Landlord or Tenant upon the Leased Premises shall remain the property of Landlord and shall remain upon and be surrendered with the Leased Premises as a part thereof, without disturbance, molestation or injury at the termination of the term of this Lease, whether by the elapse of time or otherwise, all without compensation or credit to Tenant. Any personal property not removed shall be deemed abandoned and shall become the property of Landlord; provided, that the Landlord shall have the option to effect said removals and Tenant shall pay Landlord, on demand, the cost thereof, with interest at the rate of ten (10%) percent per annum from the date of such removal by Landlord, or the prime interest rate established by the Firstar Bank Wisconsin or its successors or assigns, whichever is higher. If, prior to surrender of the premises or within twenty (20) days thereafter, Landlord so directs by written notice to Tenant, except Tenant shall repair any damage occasioned by such removals 17 or Tenant will pay to Landlord, on demand, the cost thereof with interest from the date of completion of such repairs by Landlord, at the rate specified in the immediately preceding paragraph of this Lease. The delivery to Landlord at the place then fixed for ordinary wear and tear, except for Alterations not required the payment of rent of the keys to be removed the Leased Premises shall constitute surrender of the premises by Tenant and acceptance of the keys by the Landlord shall constitute acceptance by Landlord of such surrender. Such acceptance by Landlord shall not constitute a waiver of any rights to recover damages under terms of this Lease, . This method of surrender shall not be exclusive and except for casualty damage or shall be in addition to all other conditions that Tenant is not required to remedy under methods of surrender. Anything in this Lease. Prior section to the expiration or contrary notwithstanding, at any termination of this Lease, Landlord shall have a lien upon all of the property of Tenant shall remove then located in or upon the leased Premises to secure the payment of any amounts due from Tenant to Landlord by reason of this Lease or to secure the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise)payment of damages, and all other personal Landlord may retain possession of such property installed until payment in full of said amounts. Said lien shall not be defeated by placing such property in storage. If Tenant has not redeemed said property within ninety (90) days after the termination of said Lease, Landlord may sell such property at public or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered private sale without further notice to Tenant, normal wear and tear excepted. Any shall apply in a reasonable manner determined by Landlord the proceeds of Tenant’s personal property not removed as required shall be deemed abandoned, and sale to reduce the amounts then owed from Tenant to Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) Section 16.1. Tenant shall, on the last day of the Term, or upon the sooner termination of the Term, quit and surrender to Landlord the Premises vacant, free of all equipment, furniture and other movable personal property of Tenant, and in good order and condition, reasonable wear and tear excepted, and Tenant shall remove or demolish all of the fixtures, structures and other improvements which Landlord shall have elected to cause Tenant to remove pursuant to and in accordance with Section 5.7 hereof. Tenant's obligation to ----------- observe and perform this covenant shall survive the expiration or earlier termination of the Term. On the date on which this Lease expires or terminatesExpiration Date, Tenant shall return reassign to Landlord all of Tenant's right, title and interest in the Underlying Agreements. On the Expiration Date, Tenant shall immediately surrender its gaming license to the Gaming Authorities. Landlord acknowledges that, prior to operating any gaming at the Premises, Landlord must obtain all necessary gaming licenses and approvals from the Gaming Authorities.
Section 16.2. Upon the expiration of the Term, all Fixed Rent and Additional Rent and other items payable by Tenant under this Lease shall be apportioned to the date of termination.
Section 16.3. Tenant acknowledges that possession of the Premises must be surrendered to Landlord in at the same condition as delivered expiration or sooner termination of the term of this Lease. The parties recognize and agree that the damage to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed Landlord resulting from any failure by Tenant by to timely surrender possession of the terms Premises as aforesaid will be extremely substantial, will exceed the amount of the Fixed Rent and Additional Rent theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord upon the expiration or sooner termination of the term of this Lease, then Tenant shall pay to Landlord, as liquidated damages for each month and except for casualty damage or other conditions that each portion of any month during which Tenant is not required to remedy under this Lease. Prior to holds over in the Premises after the expiration or sooner termination of the term of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property a sum equal to the same condition as delivered higher of (a) the then fair market rental value of the Premises, taking into account the effect of all material factors reasonably relevant to Tenantsuch determination, normal wear or (b) one and tear exceptedone-half (1 1/2) times the aggregate of the Fixed Rent and Additional Rent which was payable under this Lease with respect to the last month of the term hereof. Any of Tenant’s personal property not removed as required Nothing herein contained shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may to permit Tenant to retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or sooner termination of the term of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by If Tenant holds over in possession after the expiration or termination of this Lease the term of the Lease, such holding over shall operate not be deemed to extend the Term term or prevent Landlord renew this Lease, but the tenancy thereafter shall continue as a tenancy from immediate recovery month to month upon the terms and conditions of possession this Lease at the Fixed Rent and Additional Rent as herein increased. Tenant hereby waives the benefit of any law or statute in effect in the state where the Premises by summary proceedings is located which would contravene or otherwise. Any provision limit the provisions set forth in this Lease to Section 16.3. This provision shall survive the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part ------------ expiration or earlier termination of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
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Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property Premises all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property Premises to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises or any part thereof after the expiration or termination of this LeaseLease (“Holdover”), without the written consent of Landlord, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover Holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125% of double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover periodHoldover, (ii) 150% of the monthly installment of Minimum Annual Rent plus all other charges payable for the last full month immediately preceding the holdover for the subsequent month of such holdover periodhereunder, and (iii) 200% of upon all the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterterms hereof applicable to such a tenancy at sufferance. No holdover Holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover Holdover by Tenant shall constitute a default on the part an Event of Tenant under this Lease Default entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event upon an Event of a Tenant defaultDefault, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Holdover.
(c) During the last ninety (90) days of the Term, if Tenant has vacated the Premises, Landlord may decorate, remodel, repair, alter or otherwise prepare the Demised Premises for occupancy, without affecting Tenant’s advance written request, Landlord agrees obligation to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease pay Rent for all or part of the Premises after the TermPremises.
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Surrender. (a) On Not later than 5:00 p.m. on the date on which this Lease expires or terminatesTermination Date, Tenant shall return possession of vacate and surrender the Premises to Landlord in accordance with the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms provisions of this Agreement and in accordance with the Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Leaseincluding Article 12 thereof, unless such obligations are altered hereunder. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property Premises (other than the Subleased Premises) all furnitureof its personal property to which it is entitled pursuant to the provisions of the Lease on or before the Termination Date; provided, trade fixtureshowever, equipment, wiring and cabling (unless Landlord directs that Tenant otherwise)shall not remove, and hereby grants to Landlord, title to that certain furniture and equipment itemized and attached hereto as Exhibit A which Tenant has agreed to provide to Landlord hereunder and which Tenant expressly represents and warrants is free and clear of all other personal property installed liens and encumbrances. Notwithstanding anything in the Lease to the contrary, or anything in any consent to any alterations granted by the Landlord with respect to the Premises, Tenant shall not be obligated to remove any alterations, modifications or its assignees or subtenantsimprovements within the Premises . Tenant, however, will remove the equipment racks in the lab at Landlord’s request. Tenant is hereby released from any surrender obligations with respect to the Subleased Premises. Tenant shall repair any damage resulting from such removal arrange a meeting between Tenant and Landlord at the Premises on or before the Termination Date, at which time (i) Tenant shall restore surrender the Property Premises in the condition described above to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandonedLandlord, and Landlord(ii) Tenant shall deliver a ▇▇▇▇ of Sale to Landlord in the form attached hereto as Exhibit B conveying its rights, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property title and interest in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertythe furniture and equipment on Exhibit A hereto. If Tenant does intends to surrender the Premises prior to the Termination Date, Tenant shall provide Landlord not return possession less than seven (7) days’ advance written notice of such earlier date. If Tenant fails to surrender the Premises to Landlord in the condition required under this Leasedescribed in the Lease as modified herein, Tenant immediately shall pay make a $100,000 cash payment to Landlord all resulting damages on the Termination Date to replenish the cash security deposit, from which Landlord may suffer.
(b) If Tenant remains make all appropriate deductions in possession accordance with the terms of the Premises after Lease and applicable law and return any applied amount to Tenant within 45 days following the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermTermination Date.
Appears in 1 contract
Sources: Lease Amendment and Termination Agreement (Copper Mountain Networks Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) . If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125% of double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
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Surrender. (a) On a. At the date on which this Lease expires or terminates, Tenant shall return possession expiration of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage Term or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or earlier termination of this Lease, Tenant shall remove from promptly yield up the Property Premises and all furnitureimprovements, trade fixturesalterations, equipment, wiring and cabling (unless Landlord directs Tenant otherwise)additions thereto, and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal fixtures and shall restore equipment servicing the Property to Premises in a condition which is clean of garbage and debris and broom clean and in the same condition as delivered condition, order, and repair in which they are required to Tenantbe kept throughout the Term, normal reasonable wear and tear excepted. Any In furtherance of the foregoing, if required by Landlord, all wiring or cabling installed by or for Tenant’s personal property not removed as required , whether inside or outside the Premises, shall be deemed abandonedremoved by Tenant (or, and at Landlord’s election, by Landlord), at Tenant’s sole cost and expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) b. If Tenant remains in possession of Tenant, or any person claiming through Tenant, continues to occupy the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover Term or payment by Tenant after the expiration or earlier termination of this Lease or any renewal thereof without prior written consent of Landlord, the tenancy under this Lease shall operate become, at the option of Landlord, expressed in a written notice to extend Tenant and not otherwise, a tenancy from month-to-month, terminable by Landlord or Tenant on thirty (30) days prior notice to the other, under the same terms and conditions set forth in this Lease except Fixed Basic Rent shall be as set forth in the following sentence. For any period during which Tenant or any person claiming through Tenant continues to occupy the Premises after the expiration of the Term or prevent Landlord from immediate recovery earlier termination of possession this Lease or any renewal thereof, the Fixed Basic Rent during such continued occupancy shall be one hundred fifty percent (150%) of the Premises greater of: (x) the Fixed Basic Rent for the last year of the Term or (y) the then fair market rental rate as determined by summary proceedings Landlord; and Tenant shall indemnify Landlord for any loss or otherwisedamage incurred by reason of Tenant’s failure to surrender the Premises. Any provision in this Lease Anything to the contrary notwithstanding, any holdover holding over by Tenant without Landlord’s prior written consent shall constitute a default on the part an Event of Tenant Default under this Lease entitling Landlord and shall be subject to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord set forth in the event Section 29(b) of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termthis Lease.
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Surrender. (a) On At the date on which expiration or earlier termination of this Lease expires or terminatesTenant’s right of possession, Tenant shall return possession of remove Tenant’s Removable Property from the Premises, and quit and surrender the Premises to Landlord Landlord, broom clean, and in the same order, condition and repair as delivered to Tenantwhen received, except for ordinary wear and tear, except for Alterations not required casualty and damage caused by Landlord excepted. Notwithstanding the foregoing, Landlord may , in Landlord’s sole discretion and at no cost to be removed by Landlord, require Tenant by the terms of this Lease, and except for casualty damage to leave any Special Installations or other conditions that Tenant is not required Alterations in the Premises. If Tenant fails to remedy under this Lease. Prior remove any of Tenant’s Removable Property (other than Special Installations or other Tenant Alterations which Landlord has designated to remain in the expiration or Premises) within two (2) days after the termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant Lease or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandonedright to possession, and Landlord, at Tenant’s sole cost and expense, may removeshall be entitled (but not obligated) to remove and store Tenant’s Removable Property. Landlord shall not be responsible for the value, store, sell preservation or otherwise dispose safekeeping of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertyTenant’s Removable Property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Land lord, upon demand, the expenses and storage charges incurred for Tenant’s Removable Property. In addition, if Tenant fails to remove Tenant’s Removable Property from the Premises or storage, as the case may be, Landlord may suffer.
deem all or any part of Tenant’s Removable Property to be abandoned, and title to Tenant’s Removable Property (bexcept with respect to any Hazardous Materials) If shall be deemed to be immediately vested in Landlord. Except for Special Installations or other Tenant remains Alterations designated by Landlord to remain in possession the Premises, Tenant’s Removable Property shall be removed by Tenant before the Expiration Date. Tenant shall repair damage caused by the installation or removal of Tenant’s Removable Property. Notwithstanding the Premises after foregoing, if at the time Tenant requests the consent of Landlord to install Special Installations or other Tenant Alterations, Tenant requests Landlord to notify it whether such Special Installations or Tenant Alterations must be removed upon the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.earlier -32-
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Surrender. 5.1. As of the Occupancy Expiration Date (a) On or the date on which this Lease expires or terminatessooner termination of the Lease), Tenant shall return possession vacate the Occupancy Area in the condition required by Section 18 of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Initial Lease. Prior to Without limitation of the expiration or termination of this Leaseforegoing, Tenant shall remove from the Tenant Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant on or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property prior to the same condition as delivered to Tenant, normal wear and tear exceptedOccupancy Expiration Date. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If In the event that Tenant does not return possession vacate the Occupancy Area on or prior to the Occupancy Expiration Date (or the sooner termination of the Premises to Lease), Landlord in the condition required under this Lease, Tenant shall pay Landlord have all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after rights and remedies contemplated by the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject Initial Lease with respect to the provisions of this Lease (unless clearly inapplicable)original Leased Premises as to the Occupancy Area, except that including, but not limited to, the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover periodright to collect hold over rent, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant such failure shall constitute a default on Default Event.
5.2. From and after the part Occupancy Expiration Date (or the sooner termination of the Lease), the Surrendered Termination Areas shall again constitute Relinquished Areas as contemplated by the Third Amendment.
5.3. As of the Occupancy Expiration Date, the Lease (as amended hereby) shall terminate as to the Vacated Space and neither Tenant nor Landlord shall have any further liability or obligation with respect to the Lease (as amended hereby) as to the Vacated Space except for those liabilities and obligations of Tenant under this Lease entitling and Landlord relative to exercise, without obligation to provide Tenant any notice or cure period, all the Occupancy Term that expressly survive a termination of the remedies available Lease as to the Vacated Space (which shall constitute Surviving Liabilities of Tenant and Surviving Liabilities of Landlord, respectively) and Surviving Liabilities of Tenant and Surviving Liabilities of Landlord in for the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result applicable portion of the holdover. At Tenant’s advance written request, Landlord agrees Vacated Space for the period prior to give Tenant thirty (30) days’ prior written notice the deletion of any prospective damages that may arise such space from such holdover, including as a result of an executed lease for all or part of the Premises after Lease pursuant to the TermThird Amendment.
Appears in 1 contract
Sources: Lease (Brightpoint Inc)
Surrender. (a) On the date on in which this Lease expires or terminates, Tenant Tenant, at its sole cost, shall return possession of the Premises to Landlord in accordance with Tenant’s obligations under this Lease, and otherwise in broom clean good condition, ordinary wear and tear and damage by fire or casualty, condemnation and unperformed Landlord obligations excepted. Conditions existing because of Tenant’s failure to perform any of its Maintenance obligations hereunder or as a result of the same condition presence of Hazardous Materials on, in, under or about the Premises, the Property, the Project or other property as delivered a result of the acts or omissions (with respect to Tenantomissions, except for only to the extent in violation of this Lease or Applicable Laws) of Tenant and/or any Tenant Party shall not be deemed “ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage ”. On or other conditions that Tenant is not required to remedy under this Lease. Prior to before the expiration or earlier termination of this Lease, Tenant except as otherwise expressly set forth under this Lease, Tenant, at its sole cost, shall remove Tenant’s Property from the Property and repair all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property and the Project to the same condition required in this Lease, subject to Section 13.1 above, unless otherwise expressly agreed to in writing by the parties hereto. If Tenant fails to remove any Tenant’s Property as delivered to Tenantrequired hereunder, normal wear and tear excepted. Any then Landlord may deem all or any part of Tenant’s personal property not removed as required Property to be abandoned and, at Landlord’s option, title to Tenant’s Property shall be deemed abandoned, and vest in Landlord and/or Landlord, at Tenant’s expensesole cost, may remove, store, sell or otherwise remove and/or dispose of such property any Tenant’s Property in such any manner as Landlord may see fit and/or deems appropriate. Tenant shall have no obligation to remove the Landlord may retain such property Work or sale proceeds as its propertyany portion thereof or any Alteration except for any specialty Alteration pursuant to Section 13.1. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, then Landlord shall promptly notify Tenant thereof and Tenant shall pay Landlord, upon demand and presentation of reasonable supporting documentation all reasonable costs incurred by Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of necessary to put the Premises after in the expiration or termination of condition required under this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Single Tenant Triple Net Lease (Prelude Therapeutics Inc)
Surrender. (a) On Upon the date on which expiration of this Lease expires Sublease, or terminates, Tenant shall return upon the termination of the Sublease or of the Subtenant’s right to possession of the Premises Sublease Premises, Subtenant will at once surrender and deliver up the Sublease Premises, together with all improvements thereon, to Landlord Sublandlord in the same condition as they were delivered to TenantSubtenant by Sublandlord on the Commencement Date, except for ordinary reasonable wear and tear and casualty (to the extent that Section 18 is applicable) excepted; conditions existing because of Subtenant’s failure to perform maintenance, repairs or replacements as required of Subtenant under this Sublease shall not be deemed “reasonable wear and tear.” Said improvements shall include all plumbing, lighting, electrical, heating, cooling and ventilating fixtures and equipment and other articles of personal property used in the operation of the Sublease Premises (as distinguished from operations incident to the business of Subtenant). Subtenant shall surrender to Sublandlord all keys to the Sublease Premises and make known to Sublandlord the combination of all combination locks which Subtenant is permitted to leave on the Sublease Premises. All Alterations in or upon the Premises made by Subtenant shall become a part of and shall remain upon the Sublease Premises upon such termination without compensation, allowance or credit to Subtenant provided, however, that Sublandlord shall have the right to require Subtenant to remove any Alterations made by Subtenant, or portion thereof, at Subtenant’s sole expense except Subtenant shall not have an obligation to remove Alterations in the limited circumstance where (x) Master Sublandlord and Master Landlord do not require removal of such Alterations and (y) this Sublease remains in effect for Sublandlord’s entire term of sublease through October 31, 2006. Said right shall be exercisable by Sublandlord’s giving written notice thereof to Subtenant concurrently with Sublandlord’s approval of the Alterations in question. Subtenant shall also, at Subtenant’s sole expense, remove any Alterations made by Subtenant (but not required those made by prior tenants in existence prior to Subtenant’s occupation of the Sublease Premises), or portion thereof, which the Master Landlord or Master Sublandlord require to be removed removed. In connection with any removal of Alterations by Tenant Subtenant, Subtenant shall restore the Sublease Premises to their condition prior to the making of such Alteration, repairing any damage occasioned by the terms such removal or restoration. If Master Landlord or Master Sublandlord requires removal of this Leaseany Alteration made by Subtenant, or a portion thereof, and except for casualty Subtenant does not make such removal in accordance with this Section, Sublandlord may remove the same (and repair any damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwiseoccasioned thereby), and all other personal property installed by Tenant dispose thereof, or at its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to election, deliver the same condition as delivered to Tenantany other place of business of Subtenant, normal wear and tear exceptedor warehouse the same. Any of Tenant’s personal property not removed as required Subtenant shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose pay on demand the costs of such property in such manner as Landlord may see fit removal, repair, delivery and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferwarehousing.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Sub Sublease Agreement (Ariba Inc)
Surrender. (a) On Section 16.1. Tenant shall, on the last day of the Term, or upon the sooner termination of the Term, quit and surrender to Landlord the Property vacant, free of all equipment, furniture and other movable personal property of Tenant, and in good order and condition, reasonable wear and tear excepted and subject to the provisions of Section 7 and Section 8, and Tenant shall remove or demolish all of the fixtures, structures and other improvements which Landlord shall have elected to cause Tenant to remove pursuant to and in accordance with Section 5.8 hereof. Tenant’s obligation to observe and perform this covenant shall survive the expiration or earlier termination of the Term.
Section 16.2. Upon the expiration of the Term, all Fixed Rent and Additional Rent and other items payable by Tenant under this Lease shall be apportioned to the date on which this Lease expires or terminates, of termination.
Section 16.3. Tenant shall return acknowledges that possession of the Premises Property must be surrendered to Landlord in at the same condition as delivered expiration or sooner termination of the term of this Lease. Tenant agrees to Tenantindemnify Landlord against and save Landlord harmless from all costs, except for ordinary wear and tearclaims, except for Alterations not required to be removed loss or liability resulting from the failure or delay by Tenant in so surrendering the Property, including, without limitation, any claims made by any succeeding tenant founded on such failure or delay. The parties recognize and agree that the terms damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Property as aforesaid will be extremely substantial, will exceed the amount of the Fixed Rent and Additional Rent theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Property is not surrendered to Landlord upon the expiration or sooner termination of the term of this Lease, then Tenant shall pay to Landlord, as liquidated damages for each month and except for casualty damage or other conditions that each portion of any month during which Tenant is not required to remedy under this Lease. Prior to holds over in the Property after the expiration or sooner termination of the Term of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair in addition to any damage resulting from such removal and shall restore the Property sums payable pursuant to the same condition as delivered foregoing indemnity, one and one-half (1½) times the aggregate of the Fixed Rent and Additional Rent which was payable under this Lease with respect to Tenant, normal wear and tear exceptedthe last month of the Term hereof. Any of Tenant’s personal property not removed as required Nothing herein contained shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell to permit Tenant to retain possession of the Property after the expiration or otherwise dispose sooner termination of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertythe Term of this Lease. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains holds over in possession of the Premises after the expiration or termination of this the Term of the Lease, Tenant’s occupancy of the Premises such holding over shall not be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate deemed to extend the Term or prevent Landlord renew this Lease, but the tenancy thereafter shall continue as a tenancy from immediate recovery month to month upon the terms and conditions of possession this Lease at the Fixed Rent and Additional Rent as herein increased. Tenant hereby knowingly and voluntarily waives the benefit of any law or statute or equitable right in effect in the Premises by summary proceedings state where the Property is located which would contravene or otherwise. Any provision limit the provisions set forth in this Lease to Section 16.3. This provision shall survive the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part expiration or earlier termination of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 1 contract
Surrender. No later than the Expiration Date or earlier termination of Tenant's right to possession of the Premises (a) On the date on which this Lease expires or terminates“Surrender Date”), Tenant shall return possession of must vacate and surrender the Premises to Landlord in good order and condition, vacant, broom clean, and in conformity with the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms applicable provisions of this Lease. Tenant has no right to hold over beyond the Surrender Date, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If if Tenant does not return possession vacate as required such failure is deemed an Event of the Premises Default and Tenant's occupancy will not be construed to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration effect or termination of this Lease, Tenant’s occupancy of the Premises shall be that of constitute anything other than a tenancy at sufferance. Tenant’s During any period of occupancy during any holdover period shall beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord will be the Holdover Percentage of the Rent that would otherwise be subject to due under this Lease, without prorating for any partial month of holdover. The “Holdover Percentage” equals: (i) 150% for the first month of holdover; and (ii) 200% for any period of holdover beyond 1 month The provisions of this Lease (unless clearly inapplicable)Section ▇▇▇▇ not constitute a waiver by Landlord of any right of reentry as set forth in this Lease, except that the monthly installment nor will receipt of Minimum Annual any Rent shall be (i) 125% or any other act in apparent affirmance of the monthly installment tenancy operate as a waiver of Minimum Annual Rent payable for Landlord's right to terminate this Lease. If Tenant fails to vacate and surrender the last full month immediately preceding the holdover for the first 1 month of such holdover periodPremises as and when required, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover periodTenant must indemnify, defend, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent hold harmless Landlord from immediate recovery of possession of the Premises by summary proceedings all costs, losses, expenses, or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers liabilities incurred as a result of such failure No later than the holdover. At Surrender Date, at Tenant’s advance written request's expense Tenant must remove from the Premises Tenant's Property, Landlord agrees all alterations to give Tenant thirty (30) days’ prior written notice the Premises made by or on behalf of Tenant, and all telephone, security, and communication equipment system wiring and cabling, and restore in a good and workmanlike manner any prospective damages that may arise from damage to the Premises and/or the Building caused by such holdover, including as a result of an executed lease for all removal or part replace the damaged component of the Premises after and/or the TermBuilding if such component cannot be restored as reasonably determined by Landlord. Tenant's obligation to pay Rent and to perform all other Lease obligations for the period through the Surrender Date and the terms of this Section survive the Expiration Date.
Appears in 1 contract
Sources: Lease (Inpixon)
Surrender. (a) On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any re-entry by Landlord, Tenant shall return possession of shall, at its expense, quit, surrender, vacate and deliver the Premises to Landlord "broom clean" and in the same good order, condition and repair, ordinary wear, tear and damage by fire or other insured casualty excepted, together with all Existing Improvements and Alterations (except as delivered to Tenant, except otherwise provided for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of in this Lease). Tenant shall, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Leaseat its expense, Tenant shall remove from the Property Building (a) all furnitureof Tenant's Property, trade fixtures(b) any internal staircases, equipmentvaults, wiring safes, raised computer floors, computer installations, kitchens, libraries, file rooms, conveyors, dumbwaiters, specially finishes and cabling private bathrooms and any other unusual improvements and restore the Premises to their condition prior to the making of such improvements and (unless Landlord directs c) any personal property of Tenant otherwise)or persons claiming through or under Tenant, and shall repair or pay the cost of repairing all damage to the Premises and the Building occasioned by such removal. Any Tenant's Property or other personal property installed by Tenant or its assignees or subtenants. Tenant which shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property remain in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration Expiration Date or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate be deemed to extend have been abandoned and either may be retained by Landlord as its property or may be disposed of as Landlord may see fit. If such property not so removed shall be sold, Landlord may receive and retain the Term or prevent Landlord from immediate recovery proceeds of possession such sale and apply the same, at its option, against the expeises of the Premises by summary proceedings or otherwisesale, moving and storage, arrears of rent and any damages to which Landlord may be entitled. Any provision excess proceeds shall be the property of Landlord. Any expense incurred by Landlord in this Lease removing or disposing of such property shall be reimbursed to the contrary notwithstanding, any holdover Landlord by Tenant shall constitute a default as Additional Rent on the part demand. The obligations of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice SECTION 21.01 shall survive the expiration or cure period, all sooner termination of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermLease.
Appears in 1 contract
Sources: Lease Agreement (Magnetek Inc)
Surrender. (a) On SUBTENANT ▇▇▇▇▇▇ agrees to surrender the date on which this Lease expires or terminates, Tenant shall return possession of the Leased Premises to Landlord in the same good condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenantrepair, normal wear and tear excepted. Any of Tenant’s personal property not removed as Notwithstanding anything herein to the contrary (except if required by law), SUBTENANT shall be deemed abandoned, required to have performed a Phase 1 environmental audit upon the termination or expiration of this Sublease at its sole expense. SUBTENANT shall have no right to hold over beyond the expiration of the Term and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return the event SUBTENANT shall fail to deliver possession of the Leased Premises as herein provided, such occupancy shall not be construed to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration effect or termination of this Lease, Tenant’s occupancy of the Premises shall be that of constitute other than a tenancy at sufferance. Tenant’s During any period of occupancy during any holdover period beyond the expiration of the Term the amount of rent owed to SUBLANDLORD by SUBTENANT shall otherwise be subject to automatically become one hundred fifty percent (150%) the Annual Rent as those sums are at that time calculated under the provisions of this Lease the Sublease. If SUBTENANT fails to surrender the space within thirty (unless clearly inapplicable)30) days of the termination date, except that SUBLANDLORD may elect to automatically extend the monthly installment of Minimum Term for an additional month or additional year, at SUBLANDLORD’s option, with an Annual Rent shall be of one hundred and fifty percent (i150%) 125% the sum of the monthly installment of Minimum Annual Rent payable for as those sums are at that time calculated under the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% provisions of the monthly installment Sublease. The acceptance of Minimum Annual Rent payable for rent by SUBLANDLORD or the last full month immediately preceding the holdover for the subsequent month failure or delay of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover SUBLANDLORD in notifying or payment by Tenant after evicting SUBTENANT following the expiration or sooner termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises shall not create any tenancy rights in SUBTENANT and any such payments by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover SUBTENANT may be applied by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, SUBLANDLORD against its costs and Tenant shall be liable for all damagesexpenses, including consequential damages, that Landlord suffers attorney’s fees incurred by SUBLANDLORD as a result of the such holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice The provisions of any prospective damages that may arise from such holdover, including as a result this Paragraph shall survive the expiration or sooner termination of an executed lease for all or part of the Premises after the Termthis Sublease.
Appears in 1 contract
Sources: Sublease (DMC Global Inc.)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling equipment (unless Landlord directs and Tenant agree otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages the actual costs incurred by Landlord may sufferto remove and restore.
(b) If Subject to subsection (c) below, if Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125% of double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request.
(c) Provided no Event of Default on the part of Tenant has occurred and is continuing, Tenant shall have the right to extend the Lease Term for a 3-month holdover period by giving Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from Tenant’s election to so extend the Term not less than 6 months prior to the Expiration Date. If Tenant timely provides such holdovernotice, including as a result of the Term will be extended for 3 months at an executed lease for all or part Annual Minimum Rent equal to 150% of the Premises after Annual Minimum Rent in effect during the last lease year of the Term.
Appears in 1 contract
Sources: Lease Agreement (Uroplasty Inc)
Surrender. (a) On At the date on which this Lease expires or terminates, Tenant shall return possession expiration of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage Term or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or earlier termination of this Lease, Tenant shall remove from promptly yield up the Property Premises and all furniture, trade fixtures, improvements, alterations and additions thereto (except for Tenant’s trade fixtures and Tenant’s equipment, wiring ) in a condition which is clean of garbage and cabling (unless Landlord directs Tenant otherwise), debris and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal broom clean and shall restore the Property to in the same condition as delivered condition, order and repair in which they are required to Tenantbe kept throughout the Term, normal ordinary wear and tear and damage by fire and other insured casualty excepted. Any All of Tenant’s personal property required to be removed pursuant to this Lease not removed as required prior to the expiration or earlier termination of this Lease shall thereupon be conclusively presumed to have been abandoned by Tenant and Landlord may, at its option, take over possession of such property and either (a) declare the same to be the property of Landlord by written notice to Tenant at the address provided herein or (b) at the sole cost and expense of Tenant, remove and store and/or dispose of the same or any part thereof in any manner that Landlord shall choose without incurring liability to Tenant or any other person, and Tenant’s failure to remove such property shall be deemed abandoned, and Landlord, at a holding over by Tenant under Section 28(b) hereunder until such failure is rectified by Landlord or Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of Tenant, or any person claiming through Tenant, continues to occupy the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover Term or payment by Tenant after the expiration or earlier termination of this Lease or any renewal thereof the tenancy under this Lease shall operate become, at the option of Landlord, expressed in a written notice to extend Tenant and not otherwise, month-to-month, terminable by Tenant or Landlord on thirty (30) days prior notice, under the Term or prevent same terms and conditions set forth in this Lease, except that, regardless of whether Landlord from immediate recovery of possession grants such consent, the Fixed Basic Rent during such continued occupancy shall be one hundred and fifty percent (150%) of the Premises by summary proceedings or otherwiseamount set forth in the Preamble for the last month of the Term. Any provision in this Lease Anything to the contrary notwithstanding, any holdover holding over by Tenant without Landlord’s prior written consent shall constitute a an event of default on the part of Tenant under this Lease entitling Landlord and shall be deemed a tenancy at sufferance and shall be subject to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord set forth in the event Subsection 29(b) of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termthis Lease.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwiseotherwise upon at least sixty (60) days’ prior written notice), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be be, for the first three (i3) months, one hundred and twenty‑five percent (125% %) of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover periodand, thereafter, one hundred and fifty percent (ii150%) 150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.13 QB\129138.00037\24864053.9
Appears in 1 contract
Sources: Lease Agreement (Wageworks, Inc.)
Surrender. (a) On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any re-entry by Landlord, Tenant shall return possession of shall, at its expense, quit, surrender, vacate and deliver the Premises to Landlord “broom clean” and in good order, condition and repair, ordinary wear, tear and damage by fire or other casualty and damage for which Landlord is solely responsible excepted, together with all Alterations (except as otherwise provided for in this Lease). Tenant shall, at its expense, remove from the same condition Building (i) all of Tenant’s Property, (ii) Extraordinary Fixtures (as delivered to Tenant, except for ordinary wear and tear, except for Alterations not defined below) required to be removed by Landlord (in accordance with Section 20.01(b) below), and (iii) any personal property of Tenant or persons claiming through or under Tenant, and shall repair or pay the cost of repairing all damage to the Premises and the Building occasioned by such removal. Any Tenant’s Property or other personal property which shall remain in the terms Premises (A) after the Expiration Date or (B) for thirty (30) days after the termination of this Lease shall be deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of as Landlord may see fit. If such property not so removed shall be sold, Landlord may receive and retain the proceeds of such sale and apply the same, at its option, against the expenses of the sale, moving and storage, arrears of rent and any damages to which Landlord may be entitled. Any excess proceeds shall be the property of Landlord. Any expense incurred by Landlord in removing or disposing of such property shall be reimbursed to Landlord by Tenant as Additional Rent on demand. The obligations of Tenant under this shall survive the expiration or sooner termination of the Lease.
(b) Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 22.01 of the New York Civil Practice Law and Rules and any similar successor law of same import then in force in connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Article.
(c) Simultaneously with Landlord’s approval of the Initial Improvements or any subsequent Alteration, provided Tenant shall expressly request Landlord to do so in a writing accompanying Tenant’s plans and specifications submitted to Landlord for approval pursuant to Article 7 Landlord shall notify Tenant (i) whether, in Landlord’s opinion, any of the alterations, additions or improvements to be installed with the Initial Improvements or subsequent Alteration in question (as the case may be) constitute an Extraordinary Fixture (and identifying same) and (ii) which items, of those identified as Extraordinary Fixtures, Tenant must remove at the expiration or earlier termination of this Lease. If Landlord notified Tenant at the time Landlord approves the Initial Improvements or any subsequent Alteration in question (as the case may be) that in Landlord’s opinion the alterations, and except for casualty damage additions or other conditions improvements (or any of them) installed in connection therewith constitutes an Extraordinary Fixture, but that Landlord will not require Tenant is not required to remedy under this Lease. Prior to remove same at the expiration or sooner termination of this Lease, then Landlord shall have waived its right to cause Tenant to remove such alterations, additions or improvements and Tenant shall not be obligated to remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its propertysame. If Landlord fails to notify Tenant does not return possession of at the Premises time Landlord approves the Initial Improvements or any subsequent Alteration (as the case may be) that in Landlord’s opinion an alteration, addition or improvement to be installed in connection therewith constitutes an Extraordinary Fixture or that Landlord in the condition required under this Lease, will require Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after to remove same at the expiration or earlier termination of this Lease, Tenant’s occupancy of the Premises then Landlord shall be that of a tenancy at sufferancedeemed to have waived its right to cause Tenant to remove such alterations, additions or improvements and Tenant shall not be obligated to remove same. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be “Extraordinary Fixture” means (i) 125% any slab opening in the Premises which does not exist as of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover perioddate hereof and which is made by Tenant, and (ii) 150% a fixture which, at the time of installation, (aa) is not the type of improvement customarily found in a standard office installations and (bb) is materially more expensive to remove than the type of improvement that is customarily found in standard office installations; such as, but not by way of limitation, any internal staircases, vaults, safes, raised floors, reinforced floors, slabs, computer installations (including all cabling and wiring), cooking kitchens, libraries, file rooms, conveyors, dumbwaiters, specialty finishes and private bathrooms and any other unusual improvements to the extent that any of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision foregoing were installed in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.date hereof and restore the Premises to their condition prior to the making of such improvements provided that air handlers, chillers and other air conditioning equipment installed by or for Tenant shall in no event constitute “Extraordinary Fixtures”, and provided further that Tenant shall reimburse Landlord for the cost of restoring the elevator, and re-programming the same to reinstate the modifications being performed by Landlord as described in Exhibit L.
Appears in 1 contract
Sources: Lease (MF Global Ltd.)
Surrender. (a) 23.01. On the date on which last day of the term of this Lease expires Lease, or terminatesupon any earlier termination of this Lease, or upon any re-entry by Landlord upon the Demised Premises pursuant to Article 25 herein, Tenant shall return possession of quit and surrender the Demised Premises to Landlord in the same condition as delivered to Tenantgood order, condition, and repair, except for ordinary wear and tear, except for Alterations not tear and damage by fire or casualty and such other damage or destruction as Landlord is required to be removed by Tenant by the terms of repair or restore under this Lease, and Tenant shall remove all of Tenant's Property therefrom except for casualty damage or other conditions that Tenant is not required to remedy under as otherwise expressly provided in this Lease. Prior to At the expiration time of surrender, or earlier termination of this Lease, the Demised Premises shall be in the same state as existed as of the completion of Landlord's Work and the completion of Tenant's Finish Work. Any Tenant Changes, alterations or improvements, all of which must be done in accordance with Article 12 shall be removed, except as may otherwise have been provided by Landlord at the time it exercised its consent in connection with such Tenant Changes pursuant to Article 12. With respect to Landlord's Work set forth in Exhibit C, after review and completion of the final construction drawings, Landlord reserves the right to notify Tenant of any restoration Tenant shall remove from be responsible for upon the Property all furnituretermination of this Lease. If Tenant fails to perform any restoration required of it under this Lease on or before the last day of the term of this Lease or upon any earlier termination, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlorda hold-over Tenant under Article 40 of this Lease until such time as Tenant has completed such restoration. Ninety (90) days prior to the Expiration Date of this Lease, at the request of Tenant’s expense, Landlord shall walk through the Demised Premises with Tenant and create a punchlist of all restoration which shall be required to be completed by Tenant by the Expiration Date. Thereafter, Tenant may remove, store, sell request a written estimate from Landlord for the cost of all restoration required pursuant to this Lease. Failure by Landlord and Tenant to walk through the Demised Premises or otherwise dispose of such property in such manner as failure by Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession to provide an estimate of the cost of the restoration required as set forth above shall not relieve Tenant of any restoration obligations otherwise required pursuant to this Lease. In lieu of restoring the Demised Premises as required pursuant to Landlord in the condition required under this Lease, Tenant may, at its option, pay Landlord, prior to the Expiration Date of the Lease, the cost of such restoration as set forth in Landlord's estimate. Landlord and Tenant acknowledge that Landlord, prior to the Expiration Date, will notify Tenant of its restoration obligations and, as a result, notwithstanding the ninety (90) day time period set forth above, it shall be Tenant's obligation to ensure that Tenant has enough time after the Landlord and Tenant walk through the Demised Premises, if Tenant will be performing such restoration prior to the Expiration Date of the Lease. If Tenant fails remove its Property and/or fails to perform any restoration required of it under this Lease and/or fails to pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession for the cost of any restoration required on or before the last day of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions term of this Lease (unless clearly inapplicable)or upon any earlier termination, except that the monthly installment of Minimum Annual Rent Tenant shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by deemed a hold-over Tenant after the expiration or termination under Article 40 of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by until such time as Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from has completed such holdover, including as a result of an executed lease for all or part of the Premises after the Termrestoration.
Appears in 1 contract
Sources: Lease Agreement (I Many Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) equal to 125% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover periodtwo months, (ii) then 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Jagged Peak, Inc.)
Surrender. (a) On Upon the date on which expiration or sooner termination of this Lease expires or terminatesLease, Tenant shall return surrender the Premises (including the Affixed Equipment) to the District in the condition that existed on the Commencement Date, ordinary wear and tear excepted; provided, however, Tenant shall be entitled to remove any of Tenant’s property located therein and Tenant shall repair any damage resulting from such removal. Upon surrender of possession of the Premises to Landlord in and use of the same condition as delivered to TenantProperty, except for ordinary wear at the request of the District, Tenant shall remove any tenant improvements, Trade Fixtures, or Alterations and tear, except for Alterations not required to be removed by Tenant by restore the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior Premises to the condition existing upon the Commencement Date. If Tenant fails to surrender the Premises or fails to restore the Premises upon expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenantsbe in breach of this Lease. Tenant shall repair any damage resulting from such removal and shall restore the Property Notwithstanding anything to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property contrary contained in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, if Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains continues in possession of the Premises after following the date that is 15 days following the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Base Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover periodwill increase, (ii) automatically and without notice, to an amount equal to 150% of the monthly installment Base Rent paid by Tenant immediately prior to such holdover commencing. The Parties agree that the foregoing amount of Minimum Annual Base Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment during any hold over by Tenant after the expiration is a reasonable amount. Tenant shall indemnify, defend, protect and hold harmless all District Indemnified Parties from and against any and all Claims whether direct or termination of this Lease shall operate indirect, known or unknown, or foreseen or unforeseen, which may arise from or be related to extend the Term or prevent Landlord from immediate recovery of Tenant’s continued possession of the Premises by summary proceedings or otherwisePremises. Any provision Notwithstanding anything in this Lease to the contrary notwithstandingcontrary, any holdover by Tenant the foregoing increased rent shall constitute a default on be the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord District’s sole and exclusive remedy in the event Tenant continues to occupy the Premises at the end of a Tenant defaultthe Term; provided, and Tenant shall be liable for all damages, including consequential damageshowever, that Landlord suffers as a result of the holdover. At District shall retain the right to terminate this Lease or otherwise terminate Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part possession of the Premises after at the Termend of the Term or upon earlier termination of this Lease by any legal means including, without limitation, by bringing an action for unlawful detainer.
Appears in 1 contract
Sources: Lease Agreement
Surrender. (a) On Upon the date on which this Lease expires expiration or terminatesother termination of the Term, Tenant shall return will immediately vacate and surrender possession of the Premises to Landlord in the same condition as delivered to Tenantgood order, repair and condition, except for ordinary wear and tear. Upon the expiration or other termination of the Term, except for Alterations not required Tenant agrees to be removed by remove (a) all changes, additions and improvements to the Premises the removal of which Landlord requested or approved according to Section 7.1 at the time Landlord consented to their installation, (b) any security system installed on extended pursuant to Section 5.4(b); (c) all of Tenant’s Specialized Equipment (as defined in Section 7.1), and (d) all of Tenant’s trade fixtures, office furniture, office equipment and other personal property. Tenant will pay Landlord on demand the cost of repairing any damage to the Premises, Building and/or Project caused by the terms installation or removal of any such items. Notwithstanding the foregoing, (i) Tenant may not unilaterally terminate this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior Lease prior to the expiration of the Term and (ii) Tenant will be responsible for removing all Telecom Equipment at the expiration or earlier termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear exceptedTerm in accordance with Section 26.9 below. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property remaining in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or earlier termination of this Leasethe Term will be conclusively deemed to have been abandoned by Tenant and may be appropriated, stored, sold, destroyed or otherwise disposed of by Landlord without notice or obligation to account to or compensate Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance, and Tenant will pay Landlord on demand all costs incurred by Landlord relating to such abandoned property. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of obligations under this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after Section 15.1 will survive the expiration or early termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery and no surrender of possession of the Premises by summary proceedings Tenant will limit Tenant’s liability under this Lease. No act or otherwise. Any provision in thing done by Landlord or Landlord’s agents during the Term of this Lease will be deemed an acceptance of a surrender of the Premises, unless in writing signed by Landlord. The delivery of the keys to the contrary notwithstanding, any holdover by Tenant shall constitute an employee or agent of Landlord will not operate as a default on the part termination of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all a surrender of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermPremises.
Appears in 1 contract
Sources: Lease Agreement (Singulex Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage, condemnation damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property Premises all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs and Tenant agree otherwise), ) and all other personal property installed by Tenant or its assignees or subtenants, (unless Landlord directs Tenant otherwise). Tenant shall repair any damage resulting from such removal and shall restore the Property Premises to the same condition as delivered good order and condition, subject to Tenant, normal ordinary wear and tear exceptedtear, casualty damage and condemnation damage. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay reimburse Landlord all resulting damages actual and reasonable expenses incurred by Landlord may sufferto cause the Premises to be in the condition required hereunder. Notwithstanding anything in this Lease to the contrary, in no event shall Tenant be required to remove any Tenant Improvements or Tenant Requested Optional Improvements (including, without limitation, any roof deck).
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that for the monthly installment first month of Minimum Annual any holdover, the Monthly Rent shall be (i) 125% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for holdover, and thereafter, the first 1 month of such holdover period, (ii) Monthly Rent shall be 150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written requestNotwithstanding the foregoing, Landlord agrees to give Tenant thirty shall not be liable for consequential damages arising from its holdover except if Tenant holds over in the Premises for more than sixty (3060) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (INSMED Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling other than wiring and cabling installed as part of the Tenant's Improvement Work (unless Landlord directs advises Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenantgood order and condition, normal excepting only ordinary wear and tear exceptedtear, casualty damage or other conditions that Tenant is not required to remedy under this Lease. Any of Tenant’s 's personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s 's expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s 's occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s 's occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that (i) if Tenant give Landlord written notice of its intention to hold over at least ninety (90) days prior to the monthly installment Expiration Date, then for the first ninety (90) days of Minimum Annual the holdover the Monthly Rent shall be one hundred fifty percent (i150%) 125% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for holdover, and thereafter the first 1 month of such holdover period, (ii) 150% of Monthly Rent shall be double the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for holdover, or (ii) if Tenant does not give Landlord written notice of its intention to hold over at least ninety (90) days prior to the subsequent month of such holdover periodExpiration Date, and (iii) 200% of then the monthly installment of Minimum Annual Monthly Rent payable shall be double the Monthly Rent for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Tasty Baking Co)
Surrender. (a) On Upon termination of the date on which this Lease expires Term or terminatesTenant's right to possession of the Premises, Tenant shall return possession of the Premises to Landlord in good order and condition, ordinary wear and tear and damage by fire or other casualty excepted; provided, however, that if Tenant is insured (or required pursuant to this Lease to be insured) for any such damage, Tenant shall, at the election of Landlord, either (i) apply the insurance proceeds (or the amount Tenant would have received as insurance proceeds had Tenant maintained the insurance required pursuant to this Lease) to repair such damage or (ii) surrender such insurance proceeds (or the amount Tenant would have received as insurance proceeds had Tenant maintained the insurance required by this Lease) to Landlord upon surrender of the Premises. If Landlord requires Tenant to remove any alterations pursuant to Section 9, then such removal shall be done in a good and workmanlike manner, and upon such removal Tenant shall restore the Premises to its condition prior to the installation of such alterations. If Tenant does not remove such alterations after request to do so by Landlord, Landlord may remove the same condition as delivered and restore the Premises, and Tenant shall pay the cost of such removal and restoration to Landlord upon demand. Tenant shall also remove its furniture, equipment, trade fixtures and all other items of personal property from the Premises prior to termination of the Term or Tenant's right to possession of the Premises. If Tenant does not remove such items, Tenant shall be conclusively presumed to have conveyed the same to Landlord without further payment or credit by Landlord to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from at Landlord's sole option such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required items shall be deemed abandoned, in which event Landlord may cause such items to be removed and Landlord, disposed of at Tenant’s 's expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises which shall be that one hundred fifteen percent (115%) of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject Landlord's actual cost of removal, without notice to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, Tenant and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide compensate Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers except as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termotherwise required by law.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear good order and tear exceptedcondition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be (i) 125150% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Novavax Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession last day of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms term of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to upon the expiration or earlier termination of this Lease, Tenant Lessee shall remove peaceably surrender the Premises to Lessor in good order, repair, and condition at least equal to the condition when delivered to Lessee, excepting only reasonable wear and tear resulting from normal use, and damage by fire or other casualty covered by the Property all furniture, trade insurance carried by Lessor. All movable fixtures, office equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed of Lessee shall remain the property of Lessee, and upon the expiration date or earlier termination of this Lease may be removed from the Premises by Tenant or its assignees or subtenants. Tenant Lessee, subject, however, to Lessor's lien for rent; provided, however, that Lessee shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal in a good and workmanlike manner (reasonable wear and tear excepted), any damage to the Premises or the Building caused by such removal. Any of Tenant’s such movable fixtures, office equipment and other personal property not no so removed as required shall be deemed abandoned, and Landlord, by Lessee at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises prior to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration date or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or earlier termination of this Lease shall operate become the property of Lessor. All other property as a part of the premises attached or affixed to extend the Term floor, wall, or prevent Landlord from immediate recovery of possession ceiling of the Premises (including wall-to-wall carpeting, paneling, or other wall covering) are the property of Lessor and shall remain upon and be surrendered with the Premises as a part thereof at the termination of this Lease by summary proceedings lapse of time or otherwise, Lessee hereby waiving all rights to any payment or compensation therefor. Any provision in this Lease Notwithstanding anything herein to the contrary notwithstandingcontrary, any holdover by Tenant Lessee's surrender of the Premise shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without in no way affect Lessee's obligation to provide Tenant any notice pay rent to the date of expiration of this Lease, whether or cure period, all not the amount of such obligation has been ascertained either as of the remedies available to Landlord in date Lessee surrenders the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers Premises or as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice date of any prospective damages that may arise from such holdover, including as a result expiration of an executed lease for all or part of the Premises after the Termthis Lease.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to At the expiration or termination of this Lease, Tenant shall remove surrender immediate possession of the Leased Premises in good condition and repair subject to reasonable wear and tear, changes and alterations (approved, if and to the extent necessary, in accordance with this Lease), damage by fire, casualty and the elements (with respect to which proceeds from Tenant’s insurance required by this Lease have been paid to Landlord or Landlord’s lender as loss payee, if and to the Property all furnitureextent necessary, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwisein accordance with this Lease), and all other personal property installed repairs which are ▇▇▇▇▇▇▇▇’s obligation. Any holding over by Tenant shall not operate, except by written agreement, to extend or its assignees renew this Lease or subtenants. to imply or create a new lease, but in case of any such holdover, Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of to occupy the Premises as a tenant from month to Landlord month, subject to all conditions, provisions and obligations set forth in this Lease insofar as the condition required under this Leasesame are applicable to a month-to-month tenancy, except that Tenant shall pay to Landlord all resulting damages Landlord may suffer.
on a month-to-month basis, an amount of Fixed Rent that equals one hundred twenty-five percent (b125%) If Tenant remains in possession of the Premises after the expiration or termination Fixed Rent payable immediately prior to such holdover, for each month of this Leaseholdover, Tenant’s occupancy of the Premises shall be together with all Additional Rent that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall would otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover perioddue hereunder, and (iii) 200% in addition Landlord shall have all remedies as may be available in law or equity. All Trade Fixtures, movable furniture and personal effects of Tenant not removed from the monthly installment of Minimum Annual Rent payable for Leased Premises upon the last full month immediately preceding vacation or abandonment thereof or upon the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease for any cause whatsoever shall operate conclusively be deemed to extend the Term have been abandoned and may be appropriated, sold, stored, destroyed or prevent otherwise disposed of by Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease without notice to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, and without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant defaultaccount therefor, and Tenant shall be liable reimburse Landlord for all damages, including consequential damages, that Landlord suffers as a result reasonable expenses incurred in connection with the disposition of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termproperty.
Appears in 1 contract
Sources: Shopping Center Lease (Natural Grocers by Vitamin Cottage, Inc.)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the Upon expiration or termination of this Lease, Tenant shall remove from the Property all Tenant’s personal property, furniture, trade fixtures, equipment, wiring fixtures and cabling equipment (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting “Tenant’s Property”) from such removal the Demised Premises and shall restore surrender the Property Demised Premises to the same Landlord, broom clean and in good order, condition as delivered to Tenantand repair, normal ordinary wear and tear excepted. Any If Tenant fails to remove any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose Property from the Demised Premises within five (5) days of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, then Landlord shall be entitled (but not obligated) to remove and store Tenant’s occupancy Property at Tenant’s sole cost and expense. Landlord shall not be responsible for the value, preservation or safekeeping of Tenant’s Property. In addition, if Tenant fails to remove Tenant’s Property from the Premises or storage within thirty (30) days after written notice, Landlord may deem all or any part of Tenant’s Property to be abandoned, and title to Tenant’s Property shall be deemed to be immediately vested in Landlord. No act or thing done by Landlord or Landlord’s agents or employees during the term hereof shall be deemed a surrender of the Demised Premises, save and except an agreement to accept such surrender in writing and signed by Landlord. If Tenant fails to surrender the Premises at the expiration or earlier termination of this Lease, occupancy after the termination or expiration shall be that of a tenancy at sufferancefrom month-to-month. Tenant’s ’ s occupancy of the Premises during any holdover period the holder shall otherwise be subject to all the terms and provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant defaultLease, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as pay an amount (on a result per month basis) equal to one hundred fifty percent (150%) of the holdoverrental amount due during the month of expiration or termination. At Tenant’s advance written request, Tenant and Landlord agrees agree that failure of the other party to give Tenant thirty (30) days’ prior written notice insist upon strict observance of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Termterms or conditions hereof at any time shall not be deemed a waiver of its right to insist on strict observance thereafter.
Appears in 1 contract
Surrender. (a) 12.1 On the date on which this Lease expires Expiration Date, or terminates, Tenant shall return upon the earlier termination of the Sublease or of Subtenant’s right to possession of the Premises Sublease Premises, unless Subtenant is obtaining a direct lease with Sublandlord pursuant to Landlord the Master Consent, Subtenant will at once surrender and deliver up the Sublease Premises, together with all improvements thereon (subject to Subtenant’s removal and restoration obligations regarding Alterations set forth in the same Section 11 above), to Sublandlord in as good condition and repair as when delivered to TenantSubtenant, except for ordinary reasonable wear and tear and casualty excepted. Conditions existing because of Subtenant’s failure to perform maintenance, repairs or replacements as required of Subtenant under this Sublease shall not be deemed “reasonable wear and tear, except for .” Subtenant shall surrender to Sublandlord all keys to the Sublease Premises and make known to Sublandlord the combination of all combination locks which Subtenant is permitted to leave on the Sublease Premises.
12.2 All Alterations in or upon the Sublease Premises made by Subtenant and not removed or required to be removed hereunder shall become a part of and shall remain upon the Sublease Premises upon such termination without compensation, allowance or credit to Subtenant. At Sublandlord’s written request Subtenant shall restore the Sublease Premises to their condition prior to the making of such Alterations and repair any damage occasioned by Tenant such removal or restoration. If Subtenant is permitted or required to remove any Alteration or a portion thereof, and Subtenant does not complete such removal in accordance with this Section, Sublandlord may remove the same (and repair any damage occasioned thereby), and dispose thereof, or at its election, warehouse the same. Subtenant shall pay the costs of such removal, repair and warehousing on demand, plus an administrative fee equal to ten percent (10%) of such costs, on demand.
12.3 As between Sublandlord and Subtenant, Subtenant shall not be required to remove any Alterations performed by Sublandlord prior to the terms Commencement Date (“Sublandlord Alterations”) or to restore the Sublease Premises to their condition as of the date of this LeaseSublease. If Sublandlord is required under the Master Lease to remove any Sublandlord Alterations performed prior to the Commencement Date, and except Subtenant shall permit Sublandlord to enter the Sublease Premises for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior a reasonable period of time prior to the expiration date of the Master Lease for the purpose of removing Sublandlord Alterations and restoring the Sublease Premises as required by the Master Lease.
12.4 On the Expiration Date, or upon the earlier termination of this Leasethe Sublease or of Subtenant’s right to possession of the Sublease Premises, Tenant unless Subtenant is obtaining a direct lease with Sublandlord pursuant to the Master Consent, Subtenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other Subtenant’s articles of personal property installed by Tenant or its assignees or subtenants. Tenant incident to Subtenant’s business which are not affixed to the Sublease Premises (“Trade Fixtures”); provided, however that Subtenant shall repair any injury or damage resulting to the Sublease Premises which may result from such removal removal, and shall restore the Property Sublease Premises to the same condition as delivered prior to Tenantthe installation thereof. If Subtenant does not remove Subtenant’s Trade Fixtures from the Sublease Premises on or before the Expiration Date or the earlier termination of Subtenant’s right to possession, normal wear Sublandlord may, at its option, remove the same (and tear excepted. Any of Tenant’s personal property not removed repair any damage occasioned thereby and restore the Sublease Premises as required shall be deemed abandonedaforesaid) and dispose thereof or warehouse the same, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose Subtenant shall pay the cost of such property in such manner as Landlord may see fit and/or Landlord may retain such property removal, repair, restoration or sale proceeds as its property. If Tenant does not return possession of the Premises warehousing, plus an administrative fee equal to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
ten percent (b10%) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover periodcosts, (ii) 150% to Sublandlord on demand, or Sublandlord may treat said Trade Fixtures as having been conveyed to Sublandlord with this Sublease acting as a B▇▇▇ of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exerciseSale therefor, without obligation further payment or credit by Sublandlord to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the TermSubtenant.
Appears in 1 contract
Sources: Sublease (Aradigm Corp)
Surrender. (a) Section 21.01 On the date on which Expiration Date or upon the sooner termination of this Lease expires or terminatesupon any reentry by Landlord upon the Premises, Tenant shall return possession of shall, at its sole cost and expense, quit, surrender, vacate and deliver the Premises to Landlord “broom clean” and in the same good order, condition as delivered to Tenant, and repair except for ordinary wear wear, tear and teardamage by fire or other insured casualty, together with all Improvements and Fixtures (except as otherwise provided for Alterations not required in this Lease). Tenant shall remove from the Real Property all of Tenant’s Property and all other personal property and personal effects of all persons claiming through or under Tenant, and shall pay the cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant’s property or other personal property which shall remain in the Premises after the termination of this Lease shall be removed deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of in such a manner as Landlord may see fit. If such Tenant’s Property or other personal property or any part thereof shall be sold, Landlord may receive and retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in removing or disposing of such Tenant’s Property or other personal property shall be reimbursed to Landlord by Tenant by as Additional Rent on demand.
Section 21.02 If the terms Expiration Date or the date of sooner termination of this Lease, and except for casualty damage or other conditions that Tenant Lease shall fall on a day which is not required to remedy a business day, then Tenant’s obligations under this Lease. Prior Section 21.01 shall be performed on or prior to the expiration or immediately preceding business day.
Section 21.03 If the Premises are not surrendered upon the termination of this Lease, Tenant shall remove hereby indemnifies Landlord against liability resulting from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed delay by Tenant in so surrendering the Premises, including any claims made by any succeeding tenant or its assignees or subtenants. Tenant shall repair any damage resulting from prospective tenant founded upon such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may sufferdelay.
(b) If Section 21.04 In the event Tenant remains in possession of the Premises after the expiration or termination of this Lease without the execution of a new lease, Tenant, at the option of the Landlord, shall be deemed to be occupying the Premises as a tenant from month to month, at a monthly rental equal to three times the Fixed Rent and Additional Rent payable during the last month of the Term, subject to all of the other terms of this Lease insofar as the same are applicable to a month-to-month tenancy.
Section 21.05 Tenant’s obligation under this Article shall survive the termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall (i) return possession of the Premises to Landlord in a condition substantially similar to the same condition as delivered to when received by Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, and (ii) Tenant shall remove have removed from the Property Premises all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage occurring during the Term caused by any marking, painting, drilling into or defacement of the Building or any part of the Premises, or resulting from the removal of such removal personal property installed by Tenant or its assignees or subtenants, and Tenant shall restore the Property to the same condition as delivered to Tenantgood order and condition, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant T▇▇▇▇▇ does not return possession of the Premises to Landlord in the condition required under this Lease, excluding Tenant Improvements, Tenant shall pay Landlord all resulting damages the commercially reasonable costs incurred by Landlord may sufferin restoring the Premises to such condition.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, TenantT▇▇▇▇▇’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment Monthly Rent for of Minimum Annual Rent any holdover period shall be equal to the sum of (i) 125150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, and (ii) 150% Tenant’s Share of the monthly installment of Minimum Annual Rent payable Operating Expenses for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereaftermonth. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwisePremises. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the legal and equitable remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Savara Inc)
Surrender. (a) On Upon the date on which termination of this Lease expires or terminatesfor whatever reason, Tenant shall return possession of surrender the Leased Premises to Landlord in good condition and repair (including, without limitation, all additions and alterations constructed on the same condition as delivered Leased Premises), reasonable wear and tear and casualty not attributable to Tenant’s act or omission excepted. If the Leased Premises are damaged at the time of surrender due to an act or omission of Tenant, except Tenant’s responsibility for ordinary wear that damage shall be limited to that portion of the repair or restoration not paid by casualty insurance maintained by Landlord. In removing its fixtures and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove personal property from the Property all furnitureLeased Premises, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage to the Leased Premises resulting from such removal and shall restore the Property that removal. If Tenant fails to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose remove any of such property in such manner as or to adequately repair damage caused by the removal, Landlord may see fit and/or Landlord may retain such at Landlord’s option remove the property or sale proceeds as its property. If repair the damage, in which event the cost of removal or repair shall be due and payable by Tenant does not return possession of the Premises to Landlord in upon demand. Should Tenant continue to occupy the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Leased Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises Term, including any renewal thereof, such tenancy shall (without limitation of any of Landlord’s rights or remedies therefor) be that of one at sufferance at a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject minimum monthly rental equal to the provisions of this Lease one hundred fifty percent (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i150%) 125% of the monthly installment of Minimum Annual Rent rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterTerm. No holdover by Tenant or payment by Tenant after the expiration or earlier termination of this Lease shall operate be construed to extend the Term or prevent Landlord from immediate recovery of possession of the Leased Premises by summary proceedings or otherwise. Any provision in this Lease In the event that Landlord is unable to deliver possession of the contrary notwithstanding, Leased Premises to a new tenant or to perform improvements for a new tenant as a result of any holdover by Tenant shall constitute a default on the part after receipt of Tenant under this Lease entitling Landlord Landlord’s notice to exercisevacate, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable to Landlord for all damages, including including, without limitation, consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Agreement of Sale (Lenox Group Inc)
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to Upon the expiration or earlier termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of surrender the Premises to Landlord in as good a condition as on the condition date available for occupancy by Tenant, reasonable wear and tear from the last repair required under this Leasehereunder, casualty damage and damages caused by Landlord’s failure to make repairs required of Landlord hereunder excepted. Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains have no obligation to remove any alterations, additions or modifications in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferance. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after upon the expiration or termination of this Lease shall operate to extend the Term except as requested by Landlord in connection with its approval as set forth in Section 9 hereof or prevent Landlord from immediate recovery of possession of as required by Section 15 hereof. Any personal property and leasehold improvements remaining in the Premises by summary proceedings after the expiration or otherwise. Any provision in other termination of this Lease to may be disposed of by Landlord as it sees fit and without liability. By the contrary notwithstandingexpiration or earlier termination of this Lease, any holdover by Tenant shall, and shall constitute a default on have the part of Tenant under this Lease entitling Landlord to exerciseabsolute right to, without obligation to provide Tenant any notice or cure period, remove all of Tenant’s Property and signage from the remedies available to Landlord in the event of a Tenant defaultPremises, and Tenant shall repair any damage to the Premises caused by the removal of Tenant’s Property and signage. If Tenant fails to so remove Tenant’s Property and signage, Landlord may (but shall not be liable obligated to) remove Tenant’s Property and signage and store the same and repair all damage caused by the removal thereof, all at Tenant’s expense. In that event, Tenant shall reimburse Landlord for all damages, including consequential damages, that Landlord suffers as a result costs and expenses incurred in the removal and storage of personal property and signage and the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part repair of the Premises within ten (10) days after Landlord notifies Tenant of the Termamount of the costs and expenses. This Section 25 shall survive the expiration or earlier termination of this Lease.
Appears in 1 contract
Surrender. (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in the same condition as delivered to Tenantgood condition, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms of this Lease, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall not be required to remove its wiring and cabling unless Tenant cuts or damages such wiring and cabling, in which case Tenant shall be required to remove such wiring and cabling prior to the expiration or termination of this Lease. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenantgood order and condition, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Tenant’s occupancy of the Premises shall be that of a tenancy at sufferancewill. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Monthly Rent shall be one hundred fifty percent (i150%) 125% of the monthly installment of Minimum Annual Monthly Rent payable for the last full month immediately preceding the holdover for the first 1 month of such holdover period, (ii) 150% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the subsequent month of such holdover period, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafterholdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers as a result of the holdover. At Tenant’s advance written request, Landlord agrees to give Tenant thirty (30) days’ prior written notice of any prospective damages that may arise from such holdover, including as a result of an executed lease for all or part of the Premises after the Term.
Appears in 1 contract
Sources: Lease Agreement (Sourcefire Inc)
Surrender. No later than the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (a) On the date on which this Lease expires or terminates“Surrender Date”), Tenant shall return possession of must vacate and surrender the Premises to Landlord in good order and condition, vacant, broom clean, and in conformity with the same condition as delivered to Tenant, except for ordinary wear and tear, except for Alterations not required to be removed by Tenant by the terms applicable provisions of this Lease. Tenant has no right to hold over beyond the Surrender Date, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the Property to the same condition as delivered to Tenant, normal wear and tear excepted. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If if Tenant does not return possession vacate as required such failure is deemed an Event of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting damages Landlord may suffer.
(b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease, Default and Tenant’s occupancy of the Premises shall will not be that of construed to effect or constitute anything other than a tenancy at sufferance. Tenant’s During any period of occupancy during any holdover period beyond the Surrender Date, the amount of monthly Rent owed by Tenant to Landlord shall otherwise be subject to for an additional month at one hundred-fifty percent (150%) of the sum of the Rent as those sums are at that time calculated under the provisions of this the Lease (unless clearly inapplicable), except that the monthly installment of Minimum Annual Rent shall be (i) 125% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover for the first 1 five (5) months of such period and upon the sixth month of such holdover period, occupancy beyond the Surrender Date at two hundred percent (ii200%) 150% of the monthly installment sum of Minimum Annual Rent payable as those sums are at that time calculated under the provision of the Lease, without prorating for the last full month immediately preceding the holdover for the subsequent any partial month of such holdover periodholdover. The provisions of this Section will not constitute a waiver by Landlord of any right of reentry as set forth in this Lease, nor will receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease. If Tenant fails to vacate and surrender the Premises as and when required, Tenant must indemnify, defend, and (iii) 200% of the monthly installment of Minimum Annual Rent payable for the last full month immediately preceding the holdover thereafter. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent hold harmless Landlord from immediate recovery of possession of the Premises by summary proceedings all costs, losses, expenses, or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that Landlord suffers liabilities incurred as a result of such failure. Prior to the holdover. At Expiration Date or sooner termination of Tenant’s advance written requestright to possession of the Premises, Landlord agrees at Tenant’s expense Tenant must remove from the Premises Tenant’s Property (it being understood that Tenant shall not be required to give Tenant thirty (30) days’ prior written notice of remove any prospective damages that may arise from wiring or cabling installed by Tenant, to the extent the same is in good working order), and restore in a good and workmanlike manner any damage to the Premises and/or the Building caused by such holdover, including as a result of an executed lease for all removal or part replace the damaged component of the Premises after and/or the TermBuilding if such component cannot be restored as reasonably determined by Landlord. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period through the Surrender Date and the terms of this Section survive the Expiration Date.
Appears in 1 contract
Sources: Lease (Adaptimmune Therapeutics PLC)