Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term. (b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 2 contracts
Sources: Master Agreement (Westwood One Inc /De/), Lease (Westwood One Inc /De/)
Surrender. (a) Except as otherwise provided On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in Section 2(c) or 14(b)good condition, upon the expiration except for ordinary wear and tear, and except for casualty damage or other termination of conditions that Tenant is not required to remedy under this Lease. Notwithstanding anything to the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-cleancontrary contained in this Lease, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes terms of this Section 18(b) shall not be considered a hold over by Tenant21(a), if Tenant shall hold over and remain on the Premises or fail prior to remove any of its personal property beyond the expiration or earlier termination of this Lease, Tenant shall remove from the Premises all Tenant Improvements (subject to Section 29(c) below), Alterations (subject to Section 12(a) above), the Satellite System (subject to Section 7(e) above), the Building Mounted Sign (subject to Section 11(b) above), and its FFE, partitions, and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall also cap or terminate all telephone, computer and data connections at service entry panels in accordance with all applicable Laws. With respect to the Generator, or any Tenant Improvements or Alterations Tenant is otherwise required to remove hereunder, Landlord agrees that Tenant shall be required to remove the same only if Landlord provides notice to Tenant to remove such holding over items at least three (3) months prior to the Expiration Date, unless this Lease is terminated following an Event of Default in which case no notice shall not be deemed required. Tenant shall repair any damage resulting from any and all such removal and shall restore the Premises to good order and the condition existing prior to Tenant’s installation of any Tenant Improvements or Alterations the Satellite System, or the Building Mounted Sign required to be an extension of this Lease, and, in addition removed pursuant to any rights Landlord may have under the terms of this Lease. Any of the Tenant FFE or the Satellite System, or the Building Mounted Sign or Tenant’s personal property not removed or restored as required herein shall be deemed abandoned, and Landlord, at law Tenant’s expense, may remove, store, sell or otherwise dispose of such property in equitysuch manner as Landlord may see fit and retain such property as its property or sell such property and keep the proceeds. If T▇▇▇▇▇ does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting actual damages Landlord may incur. Tenant’s failure to comply with the terms and conditions of this Section 21(a) shall also be deemed an Event of Default by the Tenant under this Lease, entitling Landlord to exercise all legal and equitable remedies available to Landlord.
(b) Upon the expiration of the Term or earlier termination of Tenant’s right of possession, Tenant shall surrender the Premises to Landlord free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises (collectively, “Tenant HazMat Operations”) and released of all Hazardous Materials Clearances, broom clean, ordinary wear and tear and casualty loss and condemnation covered by Sections 15 and 16 excepted. At least 3 months prior to the surrender of the Premises, Tenant shall deliver to Landlord a narrative description of the actions proposed (or required under any Law) to be taken by Tenant in order to surrender the Premises (including any Alterations permitted by Landlord to remain in the Premises) at the expiration or earlier termination of the Term, free from any residual impact from the Tenant HazMat Operations and otherwise released or unrestricted use and occupancy (“Surrender Plans”). Such Surrender Plan shall be accompanied by a current listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Agent with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be subject to the review and approval of Landlord’s environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such additional non-proprietary information concerning Tenant HazMat Operations as Landlord shall request. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved Surrender Plan shall have been satisfactorily completed and Landlord shall have the right, subject to reimbursement at Tenant’s expense as set forth below, to cause Landlord’s environmental consultant to inspect the Premises and perform such additional procedures as may be entitled deemed reasonably necessary to recover confirm that the Premises are, as of the effective date of such surrender or early termination of this Lease, free from any and all damages (includingresidual impact from Tenant HazMat Operations. Tenant shall reimburse Landlord, without limitationas Additional Rent, any for the actual out-of-pocket costs associated expense incurred by Landlord for Landlord’s environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same, which cost shall not exceed $5,000. Landlord shall have the unrestricted right to deliver such Surrender Plan and any report by L▇▇▇▇▇▇▇’s environmental consultant with respect to the surrender of the Premises to third parties.
(c) If Tenant remains in possession of the Premises or any repairspart thereof after the expiration or termination of this Lease (“Holdover”), replacementswithout the written consent of Landlord, removal T▇▇▇▇▇’s occupancy of property 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 Rent shall be one hundred seventy-five percent (175%) of the Monthly Rent payable for the last full month immediately preceding the Holdover, plus all other charges payable hereunder, and upon all the terms hereof applicable to such a tenancy at sufferance. No Holdover or other similar 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. Nothing contained herein shall be deemed to authorize Tenant to remain in occupancy of the Premises after the Expiration Date or sooner termination of the Term. Any provision in this Lease to the contrary notwithstanding, any Holdover by Tenant shall constitute an Event of Default entitling Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord upon an Event of Default, and Tenant shall be liable for, and agrees to hold Landlord harmless from and against, all liabilities, obligations, damages, penalties, claims, costs, but excluding any specialcharges and expenses, indirectincluding attorneys’ fees and consequential damages, consequential or exemplary damages and any loss of business or profits, whether or not foreseeable) suffered by that Landlord suffers as a result of Tenant’s holding overthe Holdover, and Tenant shall also be obligated to pay to Landlord a per diem amount including any claims made by any succeeding tenant based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premisesdelay. Subject Notwithstanding anything to the parenthetical contrary set forth in the immediately preceding sentence regarding the scope of damagesthis Section 21(c), Tenant shall indemnify and hold have the one-time right to elect to extend the Term for a period of three (3) months upon providing to Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out notice of such holding over by election at least nine (9) months prior to the Expiration Date (the “Extended Term”). During the Extended Term the Minimum Annual Rent shall be equal to 150% of the Minimum Annual Rent applicable at the last month of the Term, and all of the other terms of provisions of this Lease shall apply, except that Tenant shall not have any right to make any Alterations or any Transfers, expand the Premises, or extend the Term.
(d) During the last ninety (90) days prior to the Expiration Date, if Tenant has vacated the Premises, Landlord may decorate, remodel, repair, alter or otherwise prepare the Premises for occupancy, without affecting Tenant’s obligation to pay Rent for the Premises, however, T▇▇▇▇▇’s indemnification obligations shall not apply to any acts, omissions or events within the Premises that arise on and after Landlord’s entry for such purposes.
Appears in 2 contracts
Sources: Lease Agreement (Caris Life Sciences, Inc.), Lease Agreement (Caris Life Sciences, Inc.)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b)15.01. Lessee shall, upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, remove all of Lessee’s goods and effects from the Demised Premises, and any alterations and additions which Lessor requires removal, and Lessee shall repair any damage caused by such holding over removal and restore the Demised Premises to the same condition it was in prior to such alterations or additions, reasonable wear and tear only excepted. Lessee shall not be deemed peaceably vacate and surrender to be an extension the Lessor the Demised Premises and deliver all keys and locks thereto, and all alterations and additions made to or upon the Demised Premises unless Lessor requires removal of the same, in the same condition as they were at the Term Commencement Date (except as otherwise provided in this Lease, and, in addition to any rights Landlord may have under the terms of this Lease), or at law or as they were put in equityduring the term hereof, Landlord shall be entitled to recover any reasonable wear and all damages (including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal of property tear and damage by insured fire or other similar costs, but excluding any special, indirect, consequential unavoidable casualty or exemplary damages and any loss of business taking or profits, whether condemnation by public authority or not foreseeable) suffered by Landlord as a result of TenantLessor’s holding overnegligence only excepted. In the event of the Lessee’s failure to remove any of Lessee’s property from the Demised Premises, after the expiration or earlier termination of the Lease Term, Lessor is hereby authorized, without liability to Lessee for loss or damage there at, and Tenant at the sole risk of Lessee, to remove and store any of the property at Lessee’s expense, or to retain same under Lessor’s control or to sell at public or private sale, after thirty (30) days notice to Lessee at its address last known to Lessor, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. If Lessee holds over at the Demised Premises, Lessee shall also be obligated to pay to Landlord a per diem amount based on an annual lessee at sufferance and shall be liable for payment of Base Rent at the rate equal to the greater of (a) one hundred fifty percent (150%) of the Base Rent most recently payable for the first thirty (30) days of any such holdover, and two hundred percent (200%) of the such Base Rent payable on thereafter, or (b) the date immediately preceding such holdover then fair market rent for each day thereafter that Tenant remains the Demised Premises as determined by Lessor, and in occupancy of the Premises. Subject any event plus all Additional Rent, and Lessee shall be and remain liable to the parenthetical in the immediately preceding sentence regarding the scope of damagesLessor for all damage, Tenant shall indemnify loss and hold Landlord harmless from any liabilitycost incurred by Lessor, loss, costs and expenses, including, but not limited to including reasonable attorneys’ fees, arising out as a result of such holding over by TenantLessee, but expressly excluding consequential damages other than actual damages sustained by Lessor in the nature of lost rent. The foregoing shall not in any way prejudice Lessor’s right to seek recovery of the Demised Premises.
Appears in 2 contracts
Sources: Lease Agreement (Radius Health, Inc.), Lease Agreement (Radius Health, Inc.)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon At the expiration or other termination of this lease, the Term, Tenant shallLESSEE shall remove all its goods and effects from the Premises (including, without notice from Landlordhereby limiting the generality of the foregoing, quit all signs and surrender lettering affixed or painted by the LESSEE either inside or outside the Premises). LESSEE shall deliver to Landlord the LESSOR the Premises and all keys and locks thereto and other fixtures connected therewith and all alterations and additions made to or upon the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereofexcluding trade fixtures) in substantially the same condition and repair as on they were at the Commencement Datecommencement of the term, or as they were put in during the term thereof, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear by fire or other casualty only excepted. In additionthe event of the LESSEE’S failure to remove property from the Premises, Tenant shall LESSOR is hereby authorized without liability to LESSEE, to remove all and store any of its personal the property located at LESSEE'S expense, or to retain same under LESSOR’S control or to sell at public or private sale, without notice, any or an of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. If the LESSEE holds over and continues in the Premises or elsewhere in the Building. Any damage caused to possession of the Premises or any other portions material part thereof after expiration of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes term of this Section 18(b) shall not be considered a hold over by TenantLease or after its termination, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not LESSEE will be deemed to be an extension occupying the Premises at sufferance from month-to-month tenancy, without limitation on any of the LESSOR’S rights or remedies thereunder, subject to all of the terms and conditions of this Lease, and, in addition Lease except that the fixed rent and additional rent shall be increased to 200% of the fixed rent. Prior to any rights Landlord may have under the terms of this Leasetermination, or at law or in equity, Landlord nothing shall be entitled to recover any and all damages (including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal deemed an acceptance by the LESSOR 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 a surrender except a writing signed by Landlord as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLESSOR.
Appears in 1 contract
Sources: Lease Agreement
Surrender. Subject to the provisions of the Landlord's Waiver and Consent, which LESSOR agrees to execute for the benefit of LESSEE's equipment lessor, substantially in the form attached hereto as Exhibit - I the LESSEE shall at the expiration or other termination of this Lease yield up and peaceably surrender all portions of the Leased Premises to LESSOR and shall remove all LESSEE'S goods and effects therefrom (a) Except including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the LESSEE, either inside or outside the Leased Premises). LESSEE shall deliver to the LESSOR the Leased Premises and all keys, locks thereto, and all fixtures, alterations and additions made to or upon the Leased Premises, except FOR moveable partitions and furnishings installed at the LESSEE'S expense, in the same condition as otherwise provided they were at the commencement of the 38 -38- term, or as they were put in Section 2(c) during the term hereof, reasonable wear and tear and damage by fire, other casualty or 14(b)eminent domain and matters for which the LESSOR is responsible hereunder only excepted. All moveable partitions and furnishings, upon and so long as LESSEE has expended $1.7 million dollars in Tenant Improvements, those items specified on Exhibit - attached to this Lease, installed in the Leased Premises at the LESSEE's expense prior to or during the term of the Lease may be removed by the LESSEE at the expiration or other termination of the Term, Tenant Lease. The LESSEE shall, without notice at its expense, promptly repair any and all damage to the Leased Premises resulting from Landlord, quit and surrender such removal. In the event of the LESSEE'S failure to Landlord remove any of the LESSEE'S property from the Leased Premises, vacantLESSOR is hereby authorized, broom-cleanupon fifteen (15) days written notice to the LESSEE without liability to LESSEE for loss or damage thereto, and (subject at the sole risk of LESSEE, to the provisions of Article 8 hereof) in substantially the same condition remove and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession store any of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its LESSEE's sole cost and expense. Tenant’s obligation It is expressly acknowledged and understood by the parties that the Tenant Improvements and built in equipment, such as fume hoods, installed at the commencement of this Lease to observe the first and second floor of the Leased Premises and the Supplemental Space Tenant Improvement Work, (as distinguished from moveable partitions, personal property, or perform this covenant the capital equipment listed on Exhibit), shall survive become the property of the LESSOR at the expiration or sooner termination of this Lease. Moreover, it is expressly agreed, in the Term.
(b) Except for any applicable transition periods pursuant to event of an uncured default, that the Transition Rightsitems on Exhibit -, which for purposes of this Section 18(b) shall may not be considered a hold over removed by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 costsLESSEE, but excluding any specialshall become the property of the, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLESSOR.
Appears in 1 contract
Sources: Lease Agreement (Leukosite Inc)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon The Tenant shall at the expiration or other termination of this Lease, remove all of Tenant’s goods and effects from the Termleased premises, Tenant shalland all of Tenant’s tel/data cabling and specialty finishes specifically identified by Landlord in writing upon review of ▇▇▇▇▇▇’s plans (including, without notice from hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the Tenant, either inside or outside the leased premises, except for the signage in the Building directory provided by Landlord, quit and surrender ). Tenant shall deliver to the Landlord the Premisesleased premises and all keys, vacant, broom-cleanlocks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the leased premises (subject to except as otherwise agreed at the provisions time of Article 8 construction or installation), in the condition required under Section 11 hereof) in substantially the same condition and repair as on the Commencement Date, damage by fire or other casualty, reasonable wear and tear and damage which Landlord is obligated to repair hereunder exceptedtear, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear taking by eminent domain only excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions event of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail failure to remove any of its personal Tenant’s property beyond from the expiration premises, Landlord is hereby authorized, without liability to Tenant for loss or earlier termination damage thereto, and at the sole risk of this LeaseTenant, such holding over shall not be deemed to be an extension remove and store any of this Lease, and, in addition to any rights Landlord may have under the terms of this Leaseproperty at Tenant’s expense, or to retain same under ▇▇▇▇▇▇▇▇’s control or to sell at law public or in equityprivate sale, Landlord without notice any or all of the property not so removed 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 that ▇▇▇▇▇▇ does not move from the leased premises at the end of the term (as may be extended), the Base Rent shall be entitled to recover any and all damages the then existing Base Rent multiplied by 150% for the first thirty (including30) days, 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 holding overthen 200 percent, and Tenant shall also be obligated to pay to Landlord considered a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantat sufferance.
Appears in 1 contract
Sources: Commercial Lease (Pine Technology Acquisition Corp.)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon On the expiration or other termination last day of the Term, Tenant shallor on any earlier termination of this Lease, without notice from LandlordTenant, quit and surrender to Landlord the Premisesexcept as hereinafter specifically provided in this subparagraph (e), vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused property, including movable furniture, trade fixtures and equipment not permanently attached to the Premises or any other portions of and surrender the Building Premises to Landlord in the same condition as a result of when received, broom clean, ordinary wear and tear, casualty and condemnation excepted. Subject to Tenant's right to remove improvements and alterations to the removal of Tenant’s personal property shall be repaired Premises as provided in paragraph 10 below, all improvements and alterations to the Premises, whether such were made by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) Except for any applicable transition periods Landlord pursuant to the Transition Rightsprovisions of paragraph 3 above or by the Tenant as allowed by paragraph 10 below, which for purposes whether temporary or permanent in character, shall be the Landlord's property on termination of this Section 18(bLease and shall be surrendered to Landlord in good condition and repair, ordinary wear and tear, casualty and condemnation excepted, upon expiration of the Term or other termination of this Lease, all without compensation to Tenant; provided, however, if, except as otherwise provided in subparagraph 3(k) shall not be considered a hold over by Tenantabove, if Landlord has retained the option under subparagraphs 10(a) or 3(e) to require Tenant shall hold over and remain on the Premises or fail to remove any such alterations or improvements, Tenant shall remove such upon written notice given by Landlord to Tenant not later than sixty (60) days prior to the expiration date of its the Term or within fifteen (15) days after any earlier termination of this Lease. Tenant shall repair in a workmanlike manner all damage to the Premises occasioned by the Tenant's removal of alterations, improvements and personal property beyond (including, without limitation, its trade fixtures, furnishings and equipment), which repair shall include, without limitation, the expiration patching and filling of holes and repair of structural damage to the Premises. Notwithstanding the provisions of this subparagraph (e), in the event Tenant is in default of this Lease as defined in paragraph 17 below, at the end of the Term or on any earlier termination of this Lease, such holding over shall not be deemed to be an extension all personal property of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated remain at the Premises so as to pay enable Landlord to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%enforce its statutory lien interests set forth in subparagraph 6(c) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenanthereof.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon LESSEE shall at the expiration or other earlier termination of this Lease remove all of LESSEE's good and effects from the Term, Tenant shallPremises (including, without notice from Landlordhereby limiting the generality of the foregoing, quit all lettering, affixed or painted by the LESSEE, either inside or outside the Property). LESSEE shall deliver to LESSOR the Premises (subject to reasonable wear and surrender tear and damage by other casualty) and all keys, locks thereto, and other fixtures and equipment connected therewith to Landlord the extent installed by LESSOR and all alterations, additions and improvements made to or upon the Premises, vacantincluding, broom-cleanbut not limited to, any offices, partitions, plumbing and (subject plumbing fixtures, air conditioning equipment and duct and plumbing fixtures, air conditioning equipment and duct work of any type, exhaust or heaters, burglar alarms, telephone wiring, air or gas distribution piping, compressors, to the provisions extent that the foregoing are attached to the walls or floors and all electrical work, including but not limited to, lighting fixtures of Article 8 hereof) any type, wiring conduits, distribution panels, bus ducts, raceways, outlets and disconnects. Lessee shall not be obligated to restore the Premises to its pre-occupancy status. LESSEE shall deliver the Premises in substantially a clean and neat order and in the same condition and repair conditions as on they were at the Commencement Datecommencement of the term, or as they were put in during the term hereof, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear by fire or other casualty only excepted. In additionLESSEE shall have the right to remove any trade fixtures, Tenant shall remove all of its equipment or personal property owned by LESSEE and located at or in the Premises or elsewhere in Premises. In the Building. Any damage caused to the Premises or any other portions event of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail LESSEE's failure to remove any of its personal the foregoing from the Premises, LESSOR is hereby authorized, without liability to LESSEE for loss or damage thereto, and at the sole risk of LESSEE, to remove and store any such property beyond at LESSEE's expense, or to retain the expiration same under LESSOR's control or earlier termination to sell at public or private sale without notice, any or all the property not so recovered and to apply the net proceeds from such sale to the payment of this Leaseany sum due hereunder, or to destroy such holding over property which shall not be conclusively deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantbeen abandoned.
Appears in 1 contract
Sources: Lease Agreement (Ydi Wireless Inc)
Surrender. (a) Except as otherwise provided Subject to its rights of removal described in Section 2(c) or 14(b)12 above, upon the Lessee shall at the expiration or other termination of this Lease remove all Lessee’s goods and effects from the Premises (including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the Lessee, either inside or outside the Premises, other than any monument signs) but shall not be required to remove cabling, telecommunication or security systems upon surrendering the Premises to Lessor. Lessee shall deliver to the Lessor the Premises and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the Premises, in the same condition as they were at the commencement of the Term, Tenant shallor in the case of permitted alterations, without notice from Landlord, quit additions and surrender to Landlord improvements as they were put in during the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 term hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage by fire or other casualty and condemnation and repairs which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear are Lessor’s responsibility only excepted. In additionthe event of the Lessee’s failure to remove any of Lessee’s property from the Premises, Tenant shall Lessor is hereby authorized, without liability to Lessee for loss or damage thereto, and at the sole risk of Lessee, to remove and store any of the property at Lessee’s expense, or to retain same under Lessor’s control or to sell at public or private sale, without notice, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. Lessee recognizes that the Lessor may be required to guarantee delivery of possession to the new occupant promptly upon the expiration or earlier termination of this Lease. Accordingly, Lessee specifically agrees to remove all of its personal property located at or in goods and effects and to deliver full possession of the Premises or elsewhere in to Lessor not later than the Building. Any damage caused to the Premises or any other portions date of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner earlier termination hereof in order to avoid substantial, and perhaps irreparable harm to Lessor, Lessee agrees that Lessor shall have all remedies available at law or in equity for Lessee’s failure so to do. In addition to all such remedies, Lessee further agrees that any holding over by it which has not been consented to in writing by Lessor shall be treated as a tenancy at sufferance at the greater of (i) one and one-half times the monthly rent, or (ii) market rent for one (1) year (on a monthly basis), plus other charges then applicable as of the Term.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes date of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, and such holding over tenancy at sufferance shall otherwise be on the terms and conditions set forth in this Lease so far as applicable. Any monies received after the termination date of the Lease will be applied for “use and occupancy only” and will not reestablish the tenancy and shall otherwise be deemed to be an extension of on the terms and conditions set forth in this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantfar as applicable.
Appears in 1 contract
Sources: Lease Agreement (Abiomed Inc)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b)15.01. Lessee shall, upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over remove all of Lessee’s goods and effects from the Demised Premises. Lessee shall not be deemed peaceably vacate and surrender to be an extension the Lessor the Demised Premises and deliver all keys, locks thereto, and other fixtures connected thereto, unless Lessor requests removal of this Leasethe same, andand all alterations and additions made to or upon the Demised Premises, in addition to any rights Landlord may have under the terms same condition as they were at the commencement of this Leasethe term, or at law or as they were put in equityduring the term hereof, Landlord shall be entitled to recover any reasonable wear and all damages (including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal of property tear and damage by insured fire or other similar costs, but excluding any special, indirect, consequential unavoidable casualty or exemplary damages and any loss of business taking or profits, whether condemnation by public authority or not foreseeable) suffered by Landlord as a result of Tenant▇▇▇▇▇▇’s holding overnegligence only excepted. In the event of the Lessee’s failure to remove any of Lessee’s property from the Demised Premises, Lessor is hereby authorized, without liability to Lessee for loss or damage, and Tenant at the sole risk of Lessee, to remove and store any of the property at Lessee’s expense, or to retain same under Lessor’s control, or to sell at public or private sale, after thirty (30) days notice to Lessee at its address last known to Lessor, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. If Lessee holds over at the Demised Premises, Lessee shall also be obligated to pay to Landlord a per diem amount based on an annual tenant at sufferance and shall be liable for payment for use and occupancy thereat at the rate equal to of two hundred percent (200%2) of times the Base Rent payable on the date immediately preceding such holdover most recently payable, plus all additional rent, and shall be and remain liable to Lessor for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesall damage, Tenant shall indemnify loss and hold Landlord harmless from any liabilitycost incurred by Lessor, loss, costs and expenses, including, but not limited to including reasonable attorneys’ fees, arising out as a result of such holding over by TenantLessee.
Appears in 1 contract
Sources: Commercial Lease Agreement
Surrender. (a) Except as otherwise provided in Section 2(c) 16.1 Lessee shall on the last day of the Term hereof, or 14(b)upon any earlier termination of this Lease, or upon any re-entry by Lessor upon the expiration Property pursuant to ARTICLE 17 hereof, surrender and deliver up the Property (except personal property and moveable equipment owned by Lessee and except as Lessor instructs pursuant to ARTICLE 9) and all fixtures, equipment and other personal property now or other termination hereafter at the Property into the possession and use of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) Lessor in substantially the same condition and repair as on the Commencement Datereceived, reasonable wear and tear tear, casualty and damage which Landlord is obligated to repair hereunder condemnation excepted, and free and clear of any liens created by Lessee or resulting from the acts or omissions of Lessee. Lessee shall surrender possession at no time during the Term of this Lease remove any fixtures, equipment or other personal property from the Property (except personal property and moveable equipment owned by Lessee and except as Lessor instructs pursuant to ARTICLE 9) except Lessee may remove from the Property any equipment or other personal property which is obsolete or unfit for use or which is no longer useful in the operation of the Leased Equipment Property. Nothing in this ARTICLE 16 shall in any way be deemed to Landlord in substantially the same order and repair affect any of Lessee’s obligations as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions use of the Building Property set forth in ARTICLE 2 of this Lease.
16.2 If the Property is not surrendered as a result of above set forth, Lessee shall indemnify, defend and hold Lessor harmless from and against loss or liability resulting from the removal of Tenant’s personal property shall be repaired delay by Tenant at its sole cost and expenseLessee in so surrendering the Property, including, without limitation, any claim made by any succeeding occupant founded on such delay. TenantLessee’s obligation to observe or perform this covenant shall survive the expiration or sooner other termination of this Lease. In addition to the foregoing, and in addition to the Additional Rent, Lessee shall pay to Lessor a sum equal to 150% of the Net Rent payable as of the expiration or termination of this Lease during each month or portion thereof for which Lessee shall remain in possession of the Property or any part thereof after the expiration or termination of the Term.
(b) Except for any applicable transition periods pursuant to the Transition RightsTerm or of Lessee’s rights of possession, which for purposes whether by lapse of time or otherwise. The provisions of this Section 18(b) Paragraph 16.02 shall not be considered deemed to limit or constitute a hold over by Tenantwaiver of any other rights or remedies of Lessor provided herein, if Tenant shall hold over and remain on the Premises at law or fail to remove any of its personal property beyond at equity.
16.3 Except for surrender upon the expiration or earlier termination of this Leasethe Term hereof, such holding over shall not be deemed no surrender to be an extension Lessor of this Lease, and, in addition to any rights Landlord may have under Lease or of the terms of this Lease, or at law or in equity, Landlord Property shall be entitled valid or effective unless agreed 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 accepted in writing by Landlord as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLessor.
Appears in 1 contract
Surrender. (a) Except On the Effective Date, Subtenant surrendered possession to Sublandlord of a portion of the Existing Subleased Premises (the “Surrender Space”) located on the 10th floor of the Building, such Surrender Space containing 2,745 square feet of Rentable Area and being depicted more particularly on Exhibit G attached hereto (the “Surrender Space”), free and clear of any rights, claims or encumbrances of others, and, except as otherwise provided herein provided, in Section 2(c) or 14(b), upon the expiration or other termination condition required pursuant to Article 13 of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the TermMaster Lease.
(b) Except Subtenant hereby represents and warrants to Sublandlord the following as of the Effective Date: (i) Subtenant owns and holds the entire Subtenant’s interest under the Sublease; (ii) other than the Sublease, there exists no sublease affecting the Surrender Space or any part thereof; (iii) Subtenant has not assigned or encumbered Subtenant’s interest under the Sublease or any part thereof; (iv) the Surrender Space is free of any lien, claim or encumbrance of any person claiming by, through or under Subtenant and no contracts for the furnishing of any applicable transition periods pursuant labor or materials with respect to improvements or alterations in or about the Transition RightsSurrender Space let by Subtenant are outstanding or unpaid; (v) no improvements or alterations in or about the Surrender Space have been made by or on behalf of Subtenant except in accordance with the terms and provisions of the Sublease; (vi) Subtenant has full right, power and authority to enter into this Agreement without the consent or approval of any person, and (vii) Subtenant has no knowledge of any fact or circumstance which for purposes of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition would give rise to any rights Landlord may have under the terms claim, demand, action or cause of this Lease, or at law action arising out of or in equity, Landlord shall be entitled to recover any and all damages (including, without limitation, any out-of-pocket costs associated connection with any repairs, replacements, removal of property Subtenant’s leasing 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) surrender of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesSurrender Space.
(c) Subtenant shall defend, Tenant shall indemnify and hold Landlord save Sublandlord harmless from any liability, lossand against all loss or damage sustained by Sublandlord (including all reasonable expenses, costs and expensesattorneys fees of Sublandlord in any action or defense undertaken by Sublandlord to protect itself from such loss or damage) resulting from any breach by Subtenant of the representations, includingwarranties and covenants made herein, but not limited and from any lien, charge, encumbrance or claim pertaining to reasonable attorneys’ fees, arising out Subtenant’s leasing of such holding over by Tenantthe Surrender Space on or prior to the Effective Date.
Appears in 1 contract
Sources: Sublease (Hyatt Hotels Corp)
Surrender. The LESSEE shall at the expiration or other --------- termination of this Lease yield up and peaceably surrender all portions of the Leased Premises to LESSOR and shall remove all LESSEE's goods and effects therefrom (a) Except including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the LESSEE, either inside or outside the Leased Premises). LESSEE shall deliver to the LESSOR the Leased Premises and all keys, locks thereto, and all fixtures, alterations and additions made to or upon the Leased Premises, except for moveable partitions and furnishings installed at the LESSEE's expense, in the same condition as otherwise provided they were at the commencement of the Term, or as they were put in Section 2(c) during the Term hereof, reasonable wear and tear and damage by fire, other casualty or 14(b)eminent domain and matters for which the LESSOR is responsible hereunder only excepted. All moveable partitions and furnishings, upon installed in the Leased Premises at the LESSEE's expense prior to or during the Term of the Lease may be removed by the LESSEE at the expiration or other termination of the Term, Tenant Lease. The LESSEE shall, without notice at its expense, promptly repair any and all damage to the Leased Premises resulting from Landlord, quit and surrender such removal. In the event of the LESSEE's failure to Landlord remove any of the LESSEE's property from the Leased Premises, vacantLESSOR is hereby authorized, broom-cleanupon fifteen (15) days written notice to the LESSEE without liability to LESSEE for loss or damage thereto, and (subject at the sole risk of LESSEE, to the provisions of Article 8 hereof) in substantially the same condition remove and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession store and/or sell any of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its LESSEE's sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Sources: Lease (Call Points Inc)
Surrender. (a) Except as otherwise provided in Section 2(c) SECTION 4.01. Lessee shall on the last day of the term hereof or 14(b)upon any earlier termination of this Lease, or upon any entry or re-entry by Lessor upon the expiration Demised Premises pursuant to Article 19 hereof, well and truly surrender and deliver up the Demised Premises into the possession and use of Lessor without fraud or other termination of the Termdelay and, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereofsubdivision (b) of Section 15.03 of this Lease, in substantially the same good order, condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Daterepair, reasonable wear and tear excepted, free and clear of all lettings and occupancies other than space leases and licenses then terminable at the option of the Lessor or space leases and licenses, the continuance of which Lessor shall have specifically and expressly permitted, and free and clear of all liens and encumbrances other than any created by Lessor, and other than those easements, conditions and restrictive covenants and agreements, subject to which this demise is made.
SECTION 4.02. In additionWhere furnished by or at the expense of Lessee, Tenant shall remove all any Sublessee, any space lessee or any licensee, furniture, trade fixtures and business equipment (not constituting part of its personal property located the Demised Premises) may be removed by Lessee, such Sublessee, such space lessee or such licensee at or in the Premises or elsewhere in the Building. Any damage caused prior to the Premises termination or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, provided, however, that the removal thereof will not structurally injure the Building or necessitate fundamental changes in or repairs to the Building. Lessee shall pay or cause to be paid to Lessor the cost of repairing any damage arising from such holding over removal.
SECTION 4.03. Any personal property of Lessee, any Sublessee, any space lessee or of any licensee which shall remain in the Building after the termination or expiration of this Lease and the removal of Lessee, such Sublessee, such space lessee or such licensee from the Building, may, at the option of Lessor be deemed to have been abandoned by Lessee, such Sublessee, such space lessee or such licensee, and either may be retained by Lessor as its property or be disposed of, without accountability, in such manner as Lessor may see fit.
SECTION 4.04. Lessor shall not be deemed responsible for any loss or damage occurring to be an extension any property owned by Lessee, any Sublessee, any space lessee or any licensee or any occupant.
SECTION 4.05. The provisions of this Article 4 shall survive any termination or expiration of this Lease, and, in addition including a termination pursuant to any rights Landlord may have under the terms provisions of subdivision (b) of Section 15.03 of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Surrender. (a) Except On the last day of the Term or upon the sooner termination thereof, Tenant shall peaceably surrender the Premises in good condition and repair consistent with Tenant's duty to make repairs as otherwise provided in Section 2(c) Article 6 hereof. On or 14(b)before the last day of the Term or the sooner termination thereof, Tenant shall at its expense remove all of its equipment and other personal property from the Premises, repairing any damage caused thereby, and any property not removed shall be deemed abandoned. At the election of Landlord, all alterations, additions and fixtures, other than Tenant's equipment, which have been made or installed by either Landlord or Tenant upon the expiration Premises shall remain as Landlord's property and shall be surrendered with the Premises as part thereof, or Landlord may require removal or the same at the end of the Term. It is specifically agreed that any and all telephonic, coaxial, or other termination computer, wordprocessing, facsimile, or electronic wiring installed by the Tenant within the Premises (hereafter "Wiring") shall be removed at Tenant's cost at expiration of the Term, unless Landlord has specifically requested in writing that said Wiring shall remain, whereupon said Wiring shall be surrendered with the Premises as Landlord's property. If the Premises are not surrendered at the end of the Term or sooner termination thereof. Tenant shall, without notice shall indemnify Landlord against loss or liability resulting from Landlord, quit and surrender to Landlord delay by Tenant in so surrendering the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building including without limitation claims made by a succeeding tenant as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expensesuch delay. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on promptly surrender all keys for the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) at the place then fixed for payment of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantrent.
Appears in 1 contract
Sources: Lease Amendment (Editek Inc)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon 15.1 On the expiration or other termination last day of the Termterm demised, or the sooner termination thereof, Tenant shall, without notice from Landlord, quit and shall peaceably surrender to Landlord the Premises, vacant, Premises broom-clean, in good order, condition and (repair, subject to the provisions of Article 8 section 1.4 hereof) in substantially . If the same condition and repair as on Premises are not surrendered at the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession end of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In additionterm or sooner termination thereof, Tenant shall remove indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Premises, including without limitation, claims made by and succeeding Tenant founded by such delay. Tenant shall promptly surrender all of its personal property located at or in keys for the Premises or elsewhere in the Building. Any damage caused premises to the Premises or any other portions Landlord at the place then fixed for payment of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expenserent. Tenant’s obligation to observe or perform this covenant 's covenants hereunder shall survive the expiration or sooner termination of the Termthis Lease.
(b) Except for any applicable transition periods pursuant to 15.2 If the Transition Rights, which for purposes Tenant shall occupy the Premises with the consent of the Landlord after the expiration of this Section 18(bLease and the rent is accepted from 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 Lease expired, and occupation thereafter shall operate to extend the term of this Lease for but one (1) shall not be considered month at a hold over time, unless other terms of such expiration are made in writing and signed by Tenantthe parties hereto. In such event, if either Landlord or Tenant shall hold over and remain on desires to terminate said occupancy at the Premises or fail to remove end of any of its personal property beyond month after the expiration or earlier termination of this Lease, the Party so desiring to terminate shall give the other party at least thirty (30) days written notice to that effect. Failure on the part of the Tenant to give such holding over notice shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated obligate it to pay to Landlord a per diem amount based on such rent for an annual rate equal to two hundred percent (200%) of additional calendar month following the Base Rent payable on month in which the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of has vacated the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.109
Appears in 1 contract
Surrender. (a) Except Grantee may, at any time during which Issuer would be required to repurchase the Option or any Option Shares pursuant to Section 7, surrender the Option (together with any Option Shares issued to and then owned by Grantee) to Issuer in exchange for a cash fee equal to the Surrender Price (as otherwise provided in defined below); provided, however, that Grantee may not exercise its rights pursuant to this Section 2(c15 if Issuer has repurchased the Option (or any portion thereof) or 14(b)any Option Shares pursuant to Section 7. The "Surrender Price" shall be equal to (i) $150 million, upon plus (ii) if applicable, the expiration or other termination aggregate purchase price previously paid pursuant hereto by Grantee with respect to any Option Shares, minus (iii) if applicable, the sum of (x) the Termexcess of (1) the net cash amounts, Tenant shallif any, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject received by Grantee pursuant to the provisions arms' length sale of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises Option Shares (or any other portions securities into which such Option Shares were converted or exchanged) to any party not affiliated with Grantee, over (2) the aggregate purchase price previously paid pursuant hereto by Grantee with respect to such Option Shares and (y) the net cash amounts, if any, received by Grantee pursuant to an arms' length sale of a portion of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation Option to observe or perform this covenant shall survive the expiration or sooner termination of the Termany party not affiliated with Grantee.
(b) Except for Grantee may exercise its right to surrender the Option and any applicable transition periods Option Shares pursuant to this Section 15 by surrendering to Issuer, at its principal office, this Agreement together with certificates for Option Shares, if any, accompanied by a written notice stating (i) that Grantee elects to surrender the Transition RightsOption and Option Shares, which for purposes if any, in accordance with the provisions of this Section 18(b15 and (ii) the Surrender Price. The Surrender Price shall not be considered payable in immediately available funds on or before the second business day following receipt of such notice by Issuer.
(c) To the extent that Issuer is prohibited under applicable law or regulation or as a hold over by Tenantconsequence of administrative policy arising thereunder from paying the Surrender Price to Grantee in full, if Tenant Issuer shall hold over immediately so notify Grantee and remain on the Premises thereafter deliver or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed cause to be an extension of this Leasedelivered, andfrom time to time, in addition to any rights Landlord may have under Grantee, the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) portion of the Base Rent payable on the date immediately preceding such holdover for each day thereafter Surrender Price that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesIssuer is no longer prohibited from paying, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.within five business
Appears in 1 contract
Surrender. (a) Except as otherwise provided in set forth Section 2(c17(B) or 14(b)above, upon the expiration of this Lease, by lapse of time or otherwise, any alterations, improvements or additions erected on and attached to the Premises by Tenant shall be and become the property of Landlord without any payment therefor and Tenant shall surrender the Premises (including without limitation all affixed lab benches, fume hoods, electric, plumbing, heating and sprinkling systems, fixtures and outlets, vaults, paneling, molding, shelving, radiator enclosures, cork, rubber, linoleum and composition floors, ventilating, silencing, air conditioning and cooling equipment therein), together with all improvements, installed cabling or additions thereon, whether erected by Tenant or Landlord, broom clean, free of personal property, equipment, and/or trade fixtures (including without limitation all Tenant’s Rooftop Equipment and all autoclaves and cage washers) and otherwise in the condition in which the same are required to be maintained hereunder, ordinary wear and tear, damage by fire or other termination casualty and repairs which are the responsibility of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all Any items of its personal property located at or left in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive following the expiration or sooner termination of the Term.
Lease, if such items are not removed within five (b5) Except for any applicable transition periods pursuant business days after written notice from Landlord to Tenant, may, at Landlord’s option, become the Transition Rightssole and exclusive property of Landlord and this Lease shall act as a ▇▇▇▇ of sale therefor, which for purposes of this Section 18(b) and Landlord may sell or discard such personal property. Landlord shall not be considered a hold over by Tenanthave to take any special precautions or measures with regards to any property, if Tenant shall hold over and remain on equipment and/or trade fixtures left within the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over and Landlord shall not be deemed a bailee thereof. Without limitation to be an extension the generality of this Leasethe foregoing, and, in addition to any rights Landlord may have under the terms of this Leasediscard computers, or at law or in equityrecords, 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 holding overfiles, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) data through commercial shredding vendors that certify the destruction and shredding thereof and protection of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy confidentiality of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantinformation contained therein.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(cset forth to the contrary herein, within sixty (60) or 14(bdays following the termination of this Agreement and while continuing to pay Rent (the “Equipment Removal Period”), upon in accordance with the expiration or other termination terms of the Termthis Agreement, Tenant shall, without notice from Landlord, quit and will surrender the Premises to Landlord in a condition similar to that which existed immediately prior to Tenant’s Installation together with any additions, alterations and improvements to the Premises, vacantin either case, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable normal wear and tear excepted. In additionSubject to Section 3.2, Tenant shall remove all of its personal property located at or in have the right to access the Premises or elsewhere in the Building. Any damage caused to the Premises remove any or any other portions of the Building as a result of the removal all of Tenant’s personal Equipment from the Premises at any time during the Term or the Equipment Removal Period. If Tenant’s Equipment is not removed at the conclusion of the Equipment Removal Period, Tenant will be deemed to be in Hold Over (as defined in Section 7.2 below) until Tenant’s Equipment is removed from the Premises, provided the Hold Over term shall not exceed one hundred twenty (120) days unless otherwise agreed to by both parties in writing. If Tenant fails to remove Tenant’s Equipment within one hundred twenty (120) days following the expiration of the Equipment Removal Period, then Landlord shall have the option – to be exercised by prior Notice to Tenant – to declare Tenant’s Equipment abandoned and Landlord may remove and dispose of the Tenant’s Equipment. If Landlord exercises this option, then following written Notice to Tenant (i) Landlord shall take possession and title of the property and dispose of it in a commercially reasonable manner; (ii) the reasonable costs associated with removal and disposition of the property shall be repaired by itemized and billed to Tenant at one hundred and twenty-five percent (125%) of its sole actual documented cost (“Removal Fee”); (iv) Tenant shall pay such Removal Fee within thirty (30) days of such billing; and expense. (v) Tenant’s obligation to observe or perform this covenant pay rent at the Holdover rate shall survive the expiration or sooner termination of the Termterminate.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Sources: Site Lease Agreement
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon The LESSEE shall at the expiration or other termination of this Lease remove all LESSEE’S goods and effects from the Term, Tenant shallLeased Premises (including, without notice from Landlordhereby limiting the generality of the foregoing, quit all signs and surrender lettering affixed or painted by the LESSEE, either inside or outside the Leased Premises). LESSEE shall deliver to Landlord the LESSOR the Leased Premises and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the Leased Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on they were at the Commencement Effective Date, or as they were put in during the term hereof, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear by fire or other casualty only excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions event of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail LESSEE’S failure to remove any of its personal the LESSEES’ property beyond from the Leased Premises, LESSOR is hereby authorized, without liability to LESSEE for loss or damage thereto, and at the sole risk of LESSEE, to remove and store any of the property at LESSEE’S expense, or to retain same under LESSOR’S control or to sell at public or private sale, without notice, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due thereunder, or to destroy such property. For each day after the expiration of the Term, or the earlier termination of this Lease, such holding over and prior to LESSEE’s performance of its obligations to yield up the Leased Premises under this Article, LESSEE shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem LESSOR as Rent an amount based on an annual rate equal to two one hundred ten percent (200110%) of the Base Rent computed on a daily bases, together with all Additional Rent payable on with respect to each such day. LESSEE shall further indemnify LESSOR against all loss by the date immediately preceding such holdover payment of reasonably costs and damages resulting from LESSEE’s delay in surrendering the Leased Premises as above provided for each day thereafter that Tenant remains in occupancy more than thirty (30) days after the expiration of the Premises. Subject to Term, or the parenthetical in the immediately preceding sentence regarding the scope earlier termination of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantthis Lease.
Appears in 1 contract
Sources: Commercial Lease (Zafgen, Inc.)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive Upon the expiration or sooner termination of this Lease with respect to all or part of the TermPremises, or upon re-entry by Landlord upon the Premises pursuant to Article 20 hereof, Tenant, at Tenant’s expense, shall quit and surrender the Premises to Landlord in good order, condition and repair, ordinary wear and tear, Casualty and Condemnation and other damage for which Tenant is not responsible hereunder excepted, and with all Tenant’s Property removed (except as otherwise provided in this Lease), and any damage arising out of such removal repaired, and Tenant shall deliver the Premises to Landlord free and clear of all lettings, occupancies, liens and encumbrances other than those not created by, through or under Tenant (such as any created by Landlord or the Ground Lessor). Tenant hereby waives any notice now or hereafter required by law with respect to vacating the Premises on any such expiration or termination date.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes of this Section 18(b) Tenant shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail required to remove from the Building any of its personal property beyond Alterations or leasehold improvements upon the expiration or earlier termination of this Lease, such holding over shall not be deemed except (i) as otherwise set forth in Section 28.01(a), (ii) for any Designated Specialty Alterations required to be an extension removed pursuant to the terms of Section 14.07 and this LeaseSection 28.01(b), and, in addition and (iii) for any Vertical Wiring required to any rights Landlord may have under be removed by Tenant pursuant to the terms of this Section 28.01(b). Notwithstanding the foregoing, Tenant may elect not to remove any Designated Specialty Alterations and/or Vertical Wiring by notice (“Tenant’s Restoration Notice”) given to Landlord no later than 12 months before the expiration of this Lease (or within 30 days after the earlier termination of this Lease), or at law or which Tenant’s Restoration Notice shall specify such Designated Specialty Alterations and/or Vertical Wiring that Tenant does not want to remove. If Tenant timely gives Tenant’s Restoration Notice, then, notwithstanding anything contained in equitythis Lease to the contrary, Landlord shall be entitled have the right to recover enter the Premises at any time after the date that is 60 days before the then Expiration Date and remove from the Premises any Designated Specialty Alterations and/or Vertical Wiring so specified in Tenant’s Restoration Notice (“Landlord’s Specialty Alterations Restoration Work”) and Tenant shall permit Landlord to have such access at 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 times thereafter to perform Landlord’s Specialty Alterations Restoration Work. If required and any loss of business or profits, whether or not foreseeable) suffered deemed reasonably necessary by Landlord as a result in connection with the performance of Landlord’s Specialty Alterations Restoration Work, Tenant shall promptly remove from the Premises any items of Tenant’s holding over, and Tenant shall also be obligated to pay to Property as Landlord a per diem amount based on an annual rate equal to two hundred percent may require (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.“
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the Upon expiration or other earlier termination of the TermTenant’s right of possession, Tenant shallTenant, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially Section 42 below and to the same condition and repair as on the Commencement Dateexercise of any remedies by Landlord, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, may remove Tenant’s Property and shall surrender possession of the Leased Equipment Premises to Landlord in substantially the same order and repair condition as on the Commencement Datereceived, reasonable broom clean, ordinary wear and tear tear, approved Alterations, and casualty loss and condemnation covered by Sections 18 and 19 excepted, and shall return to Landlord all keys to offices and restrooms furnished to, or otherwise procured by, Tenant. In addition, If any such key is lost Tenant shall remove all pay to Landlord, at Landlord’s election, either the cost of its personal property located at replacing such lost key or in the Premises cost of changing the lock or elsewhere in the Buildinglocks opened by such lost key. Any damage caused to the Premises Trade Fixtures, Alterations, and property not so removed by Tenant as permitted or any other portions required herein shall be deemed abandoned and may be stored, removed, and disposed of the Building as a result of the removal of by Landlord at Tenant’s personal property shall be repaired by expense, and Tenant at its sole cost and expensewaives all claims against Landlord for any damages resulting from Landlord’s retention and/or disposition of such property. Tenant’s obligation to observe or perform this covenant shall survive All obligations of either party that have arisen and/or become binding hereunder but have not been fully satisfied as of the expiration or sooner earlier termination of this Lease shall survive such expiration or earlier termination, including without limitation, indemnity obligations, payment obligations (including Rent), obligations concerning the Term.
(b) Except for any applicable transition periods pursuant condition and repair of the Premises, and the obligation to obtain all required Hazardous Materials Clearances. Without limiting the Transition Rightsgenerality of the foregoing, which for purposes of this Section 18(b) the following provisions shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond survive the expiration or earlier termination of this Lease: (a) the indemnity obligations contained in Sections 7, such holding over shall not be deemed to be an extension of this Lease12, and14(b), in addition to any rights Landlord may have under the terms of this Lease16(a), or at law or in equity16(b), Landlord shall be entitled to recover any and all damages (including30(a), without limitation30(d), 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 holding over35, and Tenant shall also be obligated 38(b); (b) the payment obligations contained in Sections 3, 5, 6, 8, 9, 11, 15, 21(a), 21b), 22(d), and 42; (c) the maintenance, repair, restoration, and/or demolition obligations contained in Sections 12, 13, 18, and 42; (d) the obligation to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent obtain Net Greenhouse Lease ▇.▇. ▇▇▇▇▇▇▇▇▇ Ave., RTP/Paradigm Genetics, Inc. – Page 29 Hazardous Materials Clearances contained in Sections 18 and 42; and (200%e) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains agreements contained in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesSections 29, Tenant shall indemnify 36, and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant44.
Appears in 1 contract
Surrender. (a) Except as otherwise provided Subject to its rights of removal described in Section 2(c) or 14(b)12 above, upon the Lessee shall at the expiration or other termination of this Lease remove all Lessee's goods and effects from the Premises (including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the Lessee, either inside or outside the Premises). Lessee shall deliver to the Lessor the Premises and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the Premises, in the same condition as they were at the commencement of the Term, Tenant shallor in the case of permitted alterations, without notice from Landlord, quit additions and surrender to Landlord improvements as they were put in during the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 term hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage by fire or other casualty and condemnation and repairs which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear are Lessor's responsibility only excepted. In additionthe event of the Lessee's failure to remove any of Lessee's property from the Premises, Tenant shall Lessor is hereby authorized, without liability to Lessee for loss or damage thereto, and at the sole risk of Lessee, to remove and store any of the property at Lessee's expense, or to retain same under Lessor's control or to sell at public or private sale, without notice, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. Lessee recognizes that the Lessor may be required to guarantee delivery of possession to the new occupant promptly upon the expiration or earlier termination of this Lease. Accordingly, Lessee specifically agrees to remove all of its personal property located at or in goods and effects and to deliver full possession of the Premises or elsewhere in to Lessor not later than the Building. Any damage caused to the Premises or any other portions date of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner earlier termination hereof in order to avoid substantial, and perhaps irreparable harm to Lessor, Lessee agrees that Lessor shall have all remedies available at law or in equity for Lessee's failure so to do. In addition to all such remedies, Lessee further agrees that any holding over by it which has not been consented to in writing by Lessor shall be treated as a tenancy at sufferance at the greater of (i) one and one-half times the monthly rent, or (ii) market rent for one (1) year (on a monthly basis), plus other charges then applicable as of the Term.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes date of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, and such holding over tenancy at sufferance shall otherwise be on the terms and conditions set forth in this Lease so far as applicable. Any monies received after the termination date of the Lease will be applied for "use and occupancy only" and will not reestablish the tenancy and shall otherwise be deemed to be an extension of on the terms and conditions set forth in this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantfar as applicable.
Appears in 1 contract
Sources: Lease (Abiomed Inc)
Surrender. At or before the end of the Term or the earlier termination of Tenant’s right to possession, Tenant will vacate and surrender possession of the Premises to Landlord in the condition this Lease requires Tenant will, before the end of the Term or Tenant’s right to possession: (ai) Except as remove and properly dispose of all removable equipment, inventory, furniture, furnishings, and any other personal property, garbage, or waste from the Premises and leave the Premises broom clean; (ii) remove all telecommunications equipment, including satellite dishes and wiring and cabling, that any Tenant Party has installed in or about the Premises, in accordance with Law; (iii) remove any part of any Alterations other than the Tenant Improvements that Landlord requires Tenant to remove in accordance with this Lease; and (iv) except to the extent Landlord gives Tenant express written notice that relieves Tenant of the obligation to do so, Tenant must put the Premises, including the HVAC and other building systems, in good working order, subject only to reasonable wear and tear and casualty or condemnation damage. For the purposes of the preceding sentence, “reasonable wear and tear” does not include any damage or deterioration that Tenant could have prevented by good maintenance and repair practice or that Tenant could otherwise provided in Section 2(c) have avoided by fully complying with its obligations under this Lease. At any time during or 14(b), upon after the expiration or other termination last 9 months of the Term, Tenant shallwill, without notice from at Landlord’s request, quit and surrender deliver to Landlord copies of all: (1) surveys, plans, drawings and specifications that relate to the Premises, vacantincluding the Tenant Improvements and any other Alterations; (2) records relating to the generation, broom-cleantransporting, storing, treating, or disposing of any Hazardous Materials from the Premises during the Term; (3) engineering reports, inspection reports, maintenance logs, inspection reports, and (subject other information that relates to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Datemaintenance, reasonable wear and tear and damage which Landlord is obligated to repair hereunder exceptedrepair, and shall surrender possession replacement of the Leased Equipment to Landlord HVAC system and other building systems in substantially the same order Premises; and repair as on (4) warranties and guarantees that cover the Commencement Date, reasonable wear Tenant Improvements and tear exceptedany other Alterations. In addition, Landlord has the right, in anticipation of the end of the Term or Tenant’s right to possession, to enter the Premises to inspect and test the HVAC and other building systems in the Premises. Tenant shall remove will repair any damage that results from removing any Alterations, trade fixtures, and personal property and restore the affected areas to a condition as good as their condition on the date Tenant took possession. Tenant will perform all such removals and repairs in a first-class, good, and workmanlike manner. If the Premises are not in the condition this Lease requires when Tenant surrenders possession, Tenant will, within 10 days after demand, pay Landlord the reasonable cost of all work required to put the Premises in the condition this Lease requires, regardless of whether Landlord actually performs any or all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or such work, plus any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights damages Landlord may have under the terms of this Lease, 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 suffers as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantdefault.
Appears in 1 contract
Sources: Lease Agreement (ServiceNow, Inc.)
Surrender. Upon a Termination, Tenant shall (a) Except as otherwise provided in Section 2(c) or 14(b), upon surrender the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender Premises to Landlord the Premises(i) in good condition and repair, vacant, broom-broom clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable ordinary wear and tear and damage which Casualty and Takings (as defined in by Sections 18.1 and 18.2 of this Lease) only excepted, subject to any Alterations permitted by Landlord is obligated to repair hereunder remain in the Premises and otherwise in accordance with Section 12.5. (ii) free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated at or in, or released or disposed of from, the Premises by any Person other than Landlord or Landlord’s officers, directors, employees, partners, affiliates, managers, agents, invitees and contractors (collectively, "Landlord Parties"), (in) broom clean, ordinary wear and tear and Casualty and Takings excepted, and shall surrender possession of the Leased Equipment (b) remove or cause to Landlord in substantially the same order be removed all Tenant Property and repair as on the Commencement Date, reasonable wear debris and tear excepted. In addition, Tenant shall remove all of its personal property located at or in rubbish from the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of at Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation Upon a Termination, Tenant shall immediately return to observe or perform this covenant shall survive Landlord all keys and/or access cards to the expiration or sooner termination Premises, the Project, Common Areas, Parking Areas and any other portion of the Term.
(b) Except for any applicable transition periods pursuant Project furnished to the Transition Rights, which for purposes of this Section 18(b) shall not be considered a hold over or otherwise procured by Tenant. If any such access card or key is lost, if Tenant shall hold over and remain on pay to Landlord, at Landlord's election, (A) the Premises cost of replacing such lost card or fail to remove any key, (B) the cost of its personal property beyond reprogramming the expiration or earlier termination security system in which such lost card was used, and/or (C) the cost of this Lease, changing the locks opened by such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 lost key. All of Tenant’s holding overProperty or other property not removed by ▇▇▇▇▇▇ as and when required hereunder shall be deemed abandoned if Tenant fails to remove the same within five Business Days after Notice from Landlord, and may be stored, removed, and disposed of by Landlord at ▇▇▇▇▇▇'s expense, and Tenant shall also be obligated to pay to waives all claims against Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless all damages resulting from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out ▇▇▇▇▇▇▇▇'s retention i and/or disposition of such holding over by Tenantproperty. All obligations of Tenant under this Lease not fully performed as of a Termination shall survive such Termination.
Appears in 1 contract
Sources: Lease
Surrender. (a) Except as otherwise provided in Section 2(c) A. Horizon Lines agrees not to encumber the Premises at any time during the term of this Agreement. Horizon Lines agrees that the Premises shall not be subject to any liens, charges or 14(b), upon encumbrances and agrees that at the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject term of this Agreement it will deliver to the provisions of Article 8 hereof) City or its designee, the Premises in substantially the same good condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable (ordinary wear and tear excepted. In addition) and without liens, Tenant shall remove all charges, or encumbrances.
B. Unless required for the performance by Horizon Lines of its personal property located obligations hereunder, Horizon Lines shall have the right at or in any time during the Term to remove from the Premises all its equipment, removable fixtures and other personal property, and all property of third persons for which Horizon Lines is responsible, and on or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond before the expiration or earlier termination of this LeaseAgreement it shall remove all of the same from the Premises, repairing all damage caused by any removal; provided, however, that, except with respect to the New Crane, if Horizon Lines shall fail to remove all such holding over property within forty-five (45) days after the expiration or earlier termination of this Agreement, the City may remove such property to a public warehouse for deposit or may retain the same in its own possession and in either event may sell the same at public auction; provided, further, that the City shall not have given Horizon Lines ten (10) days’’ notice of the City’s intent to sell such property at public auction, the proceeds of which shall be deemed applied: first to the expenses of removal, including repair required thereby, and of storage and sale; second, to any sums owed by Horizon Lines to the City, with any balance remaining to be an extension paid to Horizon Lines; if the expenses of such removal, repair, storage, and sale shall exceed the proceeds of sale, Horizon Lines shall pay such excess to the City upon demand. Without limiting any other term or provisions of this LeaseAgreement, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant Horizon Lines shall indemnify and hold Landlord harmless the City, its officers, agents, employees, and contractors from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, all claims of third persons arising out of such holding over by Tenantthe City’s removal and disposition of property pursuant to this Section, including claims for conversion, claims for loss of or damage to property, claims for injury to persons (including death), and claims for any other damages, consequential or otherwise, excluding only claims based on the City’s sole negligence.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b)15.01. Lessee shall, upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over remove all of Lessee’s goods and effects from the Demised Premises. Lessee shall not be deemed peaceably vacate and surrender to be an extension the Lessor the Demised Premises and deliver all keys, locks thereto, and other fixtures connected thereto, unless Lessor requests removal of this Leasethe same, andand all alterations and additions made to or upon the Demised Premises, in addition to any rights Landlord may have under the terms same condition as they were at the commencement of this Leasethe term, or at law or as they were put in equityduring the term hereof, Landlord shall be entitled to recover any reasonable wear and all damages (including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal of property tear and damage by insured fire or other similar costs, but excluding any special, indirect, consequential unavoidable casualty or exemplary damages and any loss of business taking or profits, whether condemnation by public authority or not foreseeable) suffered by Landlord as a result of TenantLessor’s holding overnegligence only excepted. In the event of the Lessee’s failure to remove any of Lessee’s property from the Demised Premises, Lessor is hereby authorized, without liability to Lessee for loss or damage there at, and Tenant at the sole risk of Lessee, to remove and store any of the property at Lessee’s expense, or to retain same under Lessor’s control or to sell at public or private sale, after thirty (30) days notice to Lessee at its address last known to Lessor, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. If Lessee holds over at the Demised Premises, Lessee shall also be obligated to pay to Landlord a per diem amount based on an annual tenant at sufferance and shall be liable for payment for use and occupancy thereat at the rate equal to of two hundred percent (200%2) of times the Base Rent payable on the date immediately preceding such holdover most recently payable, plus all additional rent, and shall be and remain liable to Lessor for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesall damage, Tenant shall indemnify loss and hold Landlord harmless from any liabilitycost incurred by Lessor, loss, costs and expenses, including, but not limited to including reasonable attorneys’ fees, arising out as a result of such holding over by TenantLessee.
Appears in 1 contract
Sources: Sublease (Radius Health, Inc.)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), Lessee shall deliver and surrender to Lessor possession of the Premises 573 immediately upon the expiration of the Term or other the earlier termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) this Lease in substantially the same as good 574 condition and repair as the same were on the Commencement Date, reasonable Date (ordinary wear and tear and damage which Landlord is obligated to repair hereunder only 575 excepted), and with all equipment, personal property and other items placed on the Premises by or 576 for Lessee or any of its contractors, agents, consultants, representatives or invitees removed. Any 577 such items not removed by Lessee upon the expiration of the Term or earlier termination of this 578 Lease shall surrender be deemed abandoned, and Lessor shall have the right to dispose of such items as 579 Lessor deems appropriate at the sole cost and expense of Lessee. In the event Lessee remains in 580 possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond after the expiration or earlier termination of this LeaseLease (i) Lessor 581 expressly reserves the right to reenter the Premises, such holding over shall not be deemed and the right to be an extension of this Lease, and, in addition to assert any rights Landlord may have under the terms of this Lease, or remedy at law or in equity582 equity to evict Lessee and collect damages in connection with any such holding over, Landlord and (ii) 583 Lessee shall be entitled to recover indemnify, defend and hold Lessor harmless from and against any and all claims, 584 demands, actions, losses, damages (including consequential damages), obligations, costs and 585 expenses, including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal of property attorneys’ fees incurred 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 Lessor by reason 586 of TenantLessee’s holding failure to surrender the Premises on the expiration or earlier termination of this Lease 587 in accordance with the provisions of this Lease. In the event Lessee holds over, either with or 588 without the consent of Lessor, Lessee hereby waives its rights to receive any prior written notice 589 to quit and Tenant shall also vacate the Premises as may be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premisesrequired by State or local law. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.C-13 May 2019 SBWMA/BFI Disposal Services Agreement
Appears in 1 contract
Surrender. Section 9.01 No later than one hundred and eighty (180) days following either:
(i) the last day of the term hereof or (ii) any earlier termination of this Lease, or (iii) upon any re-entry by Lessor upon the Demised Premises pursuant to Article 20 hereof, Lessee shall, at its sole cost:
(a) Remove all of the Lessee Facility from the Demised Premises and the Property, in compliance with all Applicable Laws,
(b) Except as otherwise provided for the improvements that have been demolished and removed in accordance with Article 6, surrender the Demised Premises, free and clear of the Lessee Facility and the Lessee's interconnections referred to in Section 2(c1.03(b) or 14(b), upon into the expiration or other termination possession and use of the TermLessor without delay, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as the Demised Premises were in on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Effective Date, reasonable wear and tear excepted. In addition, Tenant shall remove free and clear of all tenancies and occupancies and free and clear of its personal property located at all liens and encumbrances permitted or in the Premises or elsewhere in the Buildingcreated by Lessee. Any damage caused to the Premises or any other portions of Property, including the Building as a result of Demised Premises, the Common Roadways caused by the removal of Tenant’s personal property the Lessee Facility, or ▇▇▇▇▇▇'s interconnections, shall be repaired by Tenant and at its the sole cost and expense. Tenant’s obligation to observe expense of Lessee.
Section 9.02 During the period following expiration or perform termination of this covenant shall survive Lease until the earlier of removal of the Lessee Facility or the expiration or sooner termination of the Termone hundred and eighty (180) day period described in section 9.01 above, Lessee shall be afforded an irrevocable license to the Demised Premises and access thereto for the purpose of removing the Lessee Facility (the “End of Term License”). Lessee shall be subject to the terms and conditions of the Lease during the End of Term License.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes of this Section 18(b) 9.03 Lessee shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail obligated to remove any of its personal property beyond the expiration or earlier termination of this Lease, Lessee Facility and perform such holding over shall not be deemed other activities as are related to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) surrender of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical Lessee Facility as provided herein in the immediately preceding sentence regarding event that the scope of damages, Tenant shall indemnify Lessor exercises and hold Landlord harmless from any liability, loss, costs makes effective its right to purchase the Lessee Facility as provided in section 8.05 and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantExhibit E hereof.
Appears in 1 contract
Sources: Ground Lease
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the Upon expiration or other earlier termination of the TermTenant's right of possession, Tenant shallmay, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions exercise of Article 8 hereof) in substantially the same condition and repair as on the Commencement Dateany remedies by Landlord, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, remove Tenant's Property and shall surrender possession of the Leased Equipment Premises to Landlord in substantially the same order and repair condition as on the Commencement Datereceived, reasonable broom clean, ordinary wear and tear tear, approved Alterations, and casualty loss and condemnation covered by Sections 18 and 19 excepted, and shall return to Landlord all keys to offices and restrooms furnished to, or otherwise procured by, Tenant. In additionIf any such key is lost, Tenant shall remove all pay to Landlord, at Landlord's election, either the cost of its personal property located at replacing such lost key or in the Premises cost of changing the lock or elsewhere in the Buildinglocks opened by such lost key. Any damage caused to the Premises Trade Fixtures, Alterations, and property not so removed by Tenant as permitted or any other portions of the Building as a result of the removal of Tenant’s personal property required herein shall be repaired deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant's expense, and Tenant at its sole cost and expensewaives all claims against Landlord for any damages resulting from Landlord's retention and/or disposition of such property. Tenant’s obligation to observe or perform this covenant shall survive All obligations of either party that have arisen and/or become binding hereunder but have not been fully satisfied as of the expiration or sooner earlier termination of this Lease shall survive such expiration or earlier termination, including without limitation, indemnity obligations, payment obligations (including Rent), obligations concerning the Term.
(b) Except for any applicable transition periods pursuant condition and repair of the Premises, and the obligation to obtain all required Hazardous Materials Clearances. Without limiting the Transition Rightsgenerality of the foregoing, which for purposes of this Section 18(b) the following provisions shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond survive the expiration or earlier termination of this Lease: (a) the indemnity obligations contained in Sections 7, such holding over shall not be deemed to be an extension of this Lease12, and14(b), 16(a), 16(b), 30(a), 30(d), 35 ---------- -- ----- ----- ----- ----- ----- -- and 38(b); (b) the payment obligations contained in addition to any rights Landlord may have under Sections 3, 5, 6, 8, 9, 11, ----- ---------- - - - - -- 15, 21(a), 21(b) and 22(d); (c) the terms of this Leasemaintenance, or at law or repair, and/or restoration -- ----- ----- ----- obligations contained in equitySections 12, 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 holding over13, and Tenant shall also be obligated 18; (d) the obligation to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent obtain ----------- -- -- Hazardous Materials Clearances contained in Section 18; and (200%e) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains agreements ---------- contained in occupancy of the PremisesSections 29, 36, and 44. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.----------- -- --
Appears in 1 contract
Surrender. (a) Except Subtenant has surrendered possession to Sublandlord of a portion of the Existing Subleased Premises (the “Surrender Space”) located on the 46th floor of the Building, such Surrender Space containing 583 square feet of Rentable Area and being depicted more particularly on Exhibit G attached hereto (the “Surrender Space”), free and clear of any rights, claims or encumbrances of others, and, except as otherwise provided herein provided, in Section 2(c) or 14(b), upon the expiration or other termination condition required pursuant to Article 13 of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the TermMaster Lease.
(b) Except Subtenant hereby represents and warrants to Sublandlord the following as of the Effective Date: (i) Subtenant owns and holds the entire Subtenant’s interest under the Sublease; (ii) other than the Sublease, there exists no sublease affecting the Surrender Space or any part thereof; (iii) Subtenant has not assigned or encumbered Subtenant’s interest under the Sublease or any part thereof; (iv) the Surrender Space is free of any lien, claim or encumbrance of any person claiming by, through or under Subtenant and no contracts for the furnishing of any applicable transition periods pursuant labor or materials with respect to improvements or alterations in or about the Transition RightsSurrender Space let by Subtenant are outstanding or unpaid; (v) no improvements or alterations in or about the Surrender Space have been made by or on behalf of Subtenant except in accordance with the terms and provisions of the Sublease; (vi) Subtenant has full right, power and authority to enter into this Second Amendment without the consent or approval of any person, and (vii) Subtenant has no knowledge of any fact or circumstance which for purposes of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition would give rise to any rights Landlord may have under the terms claim, demand, action or cause of this Lease, or at law action arising out of or in equity, Landlord shall be entitled to recover any and all damages (including, without limitation, any out-of-pocket costs associated connection with any repairs, replacements, removal of property Subtenant’s leasing 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) surrender of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesSurrender Space.
(c) Subtenant shall defend, Tenant shall indemnify and hold Landlord save Sublandlord harmless from any liability, lossand against all loss or damage sustained by Sublandlord (including all reasonable expenses, costs and expensesattorneys fees of Sublandlord in any action or defense undertaken by Sublandlord to protect itself from such loss or damage) resulting from any breach by Subtenant of the representations, includingwarranties and covenants made herein, but not limited and from any lien, charge, encumbrance or claim pertaining to reasonable attorneys’ fees, arising out Subtenant’s leasing of such holding over by Tenantthe Surrender Space on or prior to the Effective Date.
Appears in 1 contract
Sources: Sublease (Hyatt Hotels Corp)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b)▇▇▇▇▇▇ agrees to deliver to Lessor possession of the Demised Premises together with all buildings, upon structures, improvements, additions, and other installations thereon, on the day of termination of this Agreement whether by expiration or other termination of the Termotherwise, Tenant shallpromptly and in reasonably good condition and repair, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder exceptedLessee need not repair, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Daterestore, reasonable wear and tear excepted. In additionor replace, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this LeaseAgreement, free and clear of liens and encumbrances made by or against the Lessee. Except as a direct result of a force majeure event, Lessee shall not abandon any of its property on the Demised Premises or any other portion of the Airport without the written consent of the Lessor. Any damage to the Airport or any portion thereof resulting from such removal shall be paid for by ▇▇▇▇▇▇. In the event of termination of this Agreement, Lessee shall have thirty (30) days after such termination during which to remove such property. However, the Lessor shall have the right to assert such lien or liens against said property as the Lessor may by Applicable Laws be permitted. So long as any such property remains in the Demised Premises, ▇▇▇▇▇▇’s obligation to pay Base Annual Rent shall continue with respect to such Demised Premises. If ▇▇▇▇▇▇’s property is not removed as herein provided, the Lessor may, at its option, after written notice to Lessee and at Lessee’s sole risk and expense, remove such property to a public warehouse for storage, or at law or retain the same in equitythe Lessor’s possession and, Landlord after the expiration of thirty (30) days sell the same, with notice and in accordance with Applicable Laws, the proceeds of which shall be entitled applied, first, to recover the expenses of such removal, storage, and sale, second to any and all damages (includingsum owed by ▇▇▇▇▇▇ to the Lessor, 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 holding over, and Tenant balance remaining shall also be obligated paid to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLessee.
Appears in 1 contract
Sources: Lease Agreement
Surrender. 15.1 Upon the expiration or earlier termination hereof, and except as otherwise provided herein (including in Sections 7.1.4, 7.1.5, 7.1.6, 8 and 11 and this Section 15), (a) Except as otherwise provided in Section 2(c) or 14(b), upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment Premises to Landlord in substantially the same order as good condition and repair as on when Tenant took possession and as thereafter improved by Landlord and/or Tenant, except for reasonable wear and tear; and (b) without limiting the Commencement Datepreceding clause (a), Tenant, at its expense, before surrendering the Premises, shall have caused the Tenant Systems to have been audited, serviced and repaired by a reputable and licensed service firm reasonably acceptable to Landlord so that the Tenant Systems shall have been put in as good condition and repair as when Tenant took possession and as thereafter improved by Landlord and/or Tenant (including replacement of any burned out or broken light bulbs or ballasts), except for reasonable wear and tear excepted(as determined taking into account the age of each Tenant System). In additionIf Tenant fails to timely perform any work required under this Section 15.1, then, without limiting its remedies, Landlord may do so, in which case Tenant shall remove all pay Landlord, upon demand, the cost of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Termsuch work.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond 15.2 Before the expiration or earlier termination hereof, Tenant, without expense to Landlord, shall (a) remove from the Premises all debris and rubbish and all furniture, equipment, trade fixtures, Lines, free-standing cabinet work, movable partitions and other articles of this Leasepersonal property that are owned or placed in the Premises by Tenant or any party claiming by, such holding over shall through or under Tenant (except for any Lines not be deemed required to be an extension of this Leaseremoved under Section 23), andand (b) repair all damage to the Premises and Building resulting from such removal. If Tenant fails to timely perform such removal and repair, in addition to any rights Landlord may have under do so at Tenant’s expense (including storage costs). If Tenant fails to remove such property from the terms of this LeasePremises, or at law or in equityfrom storage, Landlord within 30 days after notice from Landlord, any part of such property shall be entitled to recover any and all damages deemed, at Landlord’s option, either (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 foreseeablex) suffered by Landlord as a result of Tenant’s holding over, and Tenant shall also be obligated to pay conveyed to Landlord a per diem amount based on an annual rate equal to two hundred percent without compensation, or (200%y) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantabandoned.
Appears in 1 contract
Sources: Office Lease (Atmel Corp)
Surrender. (a) Except Grantee may, at any time following a Repurchase Event and prior to the occurrence of an Exercise Termination Event (or such later period as otherwise provided in Section 2(c10), relinquish the Option (together with any Option Shares issued to and then owned by Grantee) to Issuer in exchange for a cash fee equal to the Surrender Price (as defined below); PROVIDED, however, that Grantee may not exercise its rights pursuant to this Section 15 if Issuer has repurchased the Option (or any portion thereof) or 14(b)any Option Shares pursuant to Section 7. The "Surrender Price" shall be equal to $325 million (i) plus, upon the expiration or other termination of the Termif applicable, Tenant shall, without notice from Landlord, quit and surrender Grantee's purchase price with respect to Landlord the Premises, vacant, broom-clean, any Option Shares and (subject ii) minus, if applicable, the excess of (B) the net price, if any, received by Grantee (or any of its affiliates) pursuant to the provisions sale of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises Option Shares (or any other portions securities into which such Option Shares were converted or exchanged) to any unaffiliated party, over (B) Grantee's purchase price of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Termsuch Option Shares.
(b) Except for Grantee may exercise its right to relinquish the Option and any applicable transition periods Option Shares pursuant to this Section 15 by surrendering to Issuer, at its principal office, a copy of this Agreement together with certificates for Option Shares, if any, accompanied by a written notice stating (i) that Grantee elects to relinquish the Transition RightsOption and Option Shares, which for purposes if any, in accordance with the provisions of this Section 18(b15 and (ii) the Surrender Price. The Surrender Price shall be payable in immediately available funds on or before the second business day following receipt of such notice by Issuer.
(c) To the extent that Issuer is prohibited under applicable law or regulation from paying the Surrender Price to Grantee in full, Issuer shall immediately so notify Grantee and thereafter deliver or cause to be delivered, from time to time, to Grantee, the portion of the Surrender Price that it is no longer prohibited from paying, within five business days after the date on which Issuer is no longer so prohibited; provided, however, that if Issuer at any time after delivery of a notice of surrender pursuant to paragraph (b) of this Section 15 is prohibited under applicable law or regulation from paying to Grantee the Surrender Price in full, (i) Issuer shall (A) use its reasonable best efforts to obtain all required regulatory and legal approvals and to file any required notices as promptly as practicable in order to make such payments, (B) within five days of the submission or receipt of any documents relating to any such regulatory and legal approvals, provide Grantee with copies of the same, and (c) keep Grantee advised of both the status of any such request for regulatory and legal approvals, as well as any discussions with any relevant regulatory or other third party reasonably related to the same and (ii) Grantee may revoke such notice of surrender by delivery of a notice of revocation to Issuer and, upon delivery of such notice of revocation, the Exercise Termination Date shall be extended to a date six months from the date on which the Exercise Termination Date would have occurred if not be considered a hold over by Tenant, if Tenant shall hold over and remain on for the Premises or fail to remove provisions of this Section 15(c) (during which period Grantee may exercise any of its personal property beyond the expiration or earlier termination of this Leaserights hereunder, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, or at law or in equity, Landlord shall be entitled to recover including 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 holding over, and Tenant shall also be obligated rights pursuant to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantthis Section 15).
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) 16.01. Lessee shall on the last day of the Term hereof, or 14(b)upon any earlier termination of this Lease, or upon any re-entry by Lessor upon the expiration Property pursuant to ARTICLE 17 hereof, surrender and deliver up the Property (except personal property and moveable equipment owned by Lessee and except as Lessor instructs pursuant to ARTICLE 9) and all fixtures, equipment and other personal property now or other termination hereafter at the Property into the possession and use of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) Lessor in substantially the same condition and repair as on the Commencement Datereceived, reasonable wear and tear tear, casualty and damage which Landlord is obligated to repair hereunder condemnation excepted, and free and clear of any liens created by Lessee or resulting from the acts or omissions of Lessee. Lessee shall surrender possession at no time during the Term of this Lease remove any fixtures, equipment or other personal property from the Property (except personal property and moveable equipment owned by Lessee and except as Lessor instructs pursuant to ARTICLE 9) except Lessee may remove from the Property any equipment or other personal property which is obsolete or unfit for use or which is no longer useful in the operation of the Leased Equipment Property. Nothing in this ARTICLE 16 shall in any way be deemed to Landlord in substantially the same order and repair affect any of Lessee’s obligations as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions use of the Building Property set forth in ARTICLE 2 of this Lease.
16.02. If the Property is not surrendered as a result of above set forth, Lessee shall indemnify, defend and hold Lessor harmless from and against loss or liability resulting from the removal of Tenant’s personal property shall be repaired delay by Tenant at its sole cost and expenseLessee in so surrendering the Property, including, without limitation, any claim made by any succeeding occupant founded on such delay. TenantLessee’s obligation to observe or perform this covenant shall survive the expiration or sooner other termination of this Lease. In addition to the foregoing, and in addition to the Additional Rent, Lessee shall pay to Lessor a sum equal to 150% of the Net Rent payable as of the expiration or termination of this Lease during each month or portion thereof for which Lessee shall remain in possession of the Property or any part thereof after the expiration or termination of the Term.
(b) Except for any applicable transition periods pursuant to the Transition RightsTerm or of Lessee’s rights of possession, which for purposes whether by lapse of time or otherwise. The provisions of this Section 18(b) Paragraph 16.02 shall not be considered deemed to limit or constitute a hold over by Tenantwaiver of any other rights or remedies of Lessor provided herein, if Tenant shall hold over and remain on the Premises at law or fail to remove any of its personal property beyond at equity.
16.03. Except for surrender upon the expiration or earlier termination of this Leasethe Term hereof, such holding over shall not be deemed no surrender to be an extension Lessor of this Lease, and, in addition to any rights Landlord may have under Lease or of the terms of this Lease, or at law or in equity, Landlord Property shall be entitled valid or effective unless agreed 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 accepted in writing by Landlord as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLessor.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon On the expiration or other termination last day of the TermTerm or on the sooner termination thereof, Tenant shall, without notice from Landlord, quit and the LESSEE shall peaceably surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) Leased Premises in substantially the same good condition and repair as on the Commencement Daterepair, reasonable wear and tear expected, consistent with the LESSEE’S duty to make repairs as provided in Sections 2 and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession 6 hereof. On or before the last day of the Leased Equipment to Landlord in substantially Term or the same order and repair as on sooner termination thereof, the Commencement Date, reasonable wear and tear excepted. In addition, Tenant LESSEE shall at its expense remove all of its personal equipment from the Leased Premises, and any property located not removed shall be deemed abandoned. All alterations, addition and fixtures, other than the LESSEE’S equipment, which have been made or installed by either the LESSOR or the LESSEE on the Leased Premises shall remain as the LESSOR’S property and shall be surrendered with the Leased Premises as a part thereof. If the Leased Premises are not surrendered at the end of the Term or the sooner termination thereof, the LESSEE shall indemnify the LESSOR against any loss or liability resulting from delay of the LESSEE in so surrendering the Leased Premises, including without limitation claims made by any succeeding lessee founded on such delay. The LESSEE shall promptly surrender all keys for the Leased Premises to the LESSOR at the place then fixed for payment of Rent and shall inform the LESSOR of combinations of any locks or safes on the Leased Premises. In no event shall the LESSEE be deemed to have abandoned the Leased Premises or elsewhere in this Lease during the Building. Any damage caused to Term unless the Premises or any other portions LESSEE first obtains the express permission of the Building as a result LESSOR. The provisions of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant section shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) this Paragraph 23 and in Paragraph 11, the SUBLESSEE shall at the expiration or 14(bother termination of this SUBLEASE yield up and peaceably surrender all portions of the Leased Premises to SUBLESSOR and shall remove all SUBLESSEE'S goods and effects therefrom (including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the SUBLESSEE, either inside or outside the Leased Premises). SUBLESSEE shall deliver to the SUBLESSOR the Leased Premises and all keys, locks thereto, and all fixtures, alterations and additions made to or upon the Leased Premises, except for equipment-moveable partitions and furnishings leased or installed at the SUBLESSEE'S expense which have previously been identified in writing as such from SUBLESSEE to SUBLESSOR, in the same condition as they were after the construction of the Tenant Improvements, or as they were put in during the term hereof, reasonable wear and tear and damage by fire, other casualty or eminent domain and matters for which the SUBLESSOR is responsible hereunder only excepted. All equipment, moveable partitions and furnishings, which have previously been identified in writing as such from SUBLESSEE to SUBLESSOR, installed in the Leased Premises at the SUBLESSEE'S expense during the term of the SUBLEASE may be removed by the SUBLESSEE at the expiration or other termination of the Term, Tenant SUBLEASE. The SUBLESSEE shall, without notice at its expense, promptly repair any and all damage to the Leased Premises resulting from Landlordsuch removal and shall restore or pay the cost of restoring, quit and surrender the Leased Premises to Landlord the condition which existed after the completion of the Tenant's Improvements or any approved alteration or addition, as the case may be. In the event of the SUBLESSEE'S failure to remove any of the SUBLESSEE'S property from the Leased Premises, vacantSUBLESSOR is hereby authorized, broom-cleanupon fifteen (15) days written notice to the SUBLESSEE without liability to SUBLESSEE for loss or damage thereto, and at the sole risk of SUBLESSEE to (subject to the provisions of Article 8 hereofa) in substantially the same condition remove and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession store any of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its SUBLESSEE'S sole cost and expense, (b) deem any of SUBLESSEE'S property which remains on the Leased Premises to be abandoned and in such case (i) retain it as SUBLESSOR'S property or (ii) dispose of it without accountability at SUBLESSEE'S expense, in such manner as SUBLESSOR may see fit. Tenant’s obligation It is specifically understood by the parties that the Tenant Improvements performed at the commencement of this SUBLEASE, and referred to observe or perform this covenant in Paragraph 3.3 of the SUBLEASE shall survive become the property of the SUBLESSOR at the expiration or sooner termination of this SUBLEASE. It is also understood by the Term.
parties that the SUBLESSEE may lease equipment from third parties and in connection therewith, SUBLESSOR shall agree to execute so-called Landlord Waivers in a form reasonably acceptable to SUBLESSOR, which at minimum, shall include provisions (a) permitting the equipment lessor to enter the Leased Premises for purposes of removal of leased equipment so long as said equipment lessor agrees to restore the Leased Premises and repair any damage caused by the removal of such leased equipment, and (b) Except for permitting (but not requiring) the SUBLESSOR an opportunity to cure any applicable transition periods pursuant default of SUBLESSEE, and thereby succeed to the Transition Rights, which for purposes rights of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises equipment lessee under the equipment lease. Upon execution or fail to remove any of its personal property beyond the expiration sooner or earlier termination of this LeaseSUBLEASE, such holding over equipment shall, unless the parties agree otherwise, become the property of the SUBLESSOR. In the event that at such expiration or termination of the SUBLEASE, there is leased equipment for which lease payments are still outstanding, SUBLESSOR shall not be deemed to be an extension have the option of this Lease, and, in addition to any rights Landlord may have under making the terms of this Lease, 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 holding overpayments due thereunder, and Tenant shall also be obligated thereby succeed to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) the interest of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical SUBLESSEE in the immediately preceding sentence regarding equipment or may require the scope of damages, Tenant shall indemnify and hold equipment lessor to remove the leased equipment as set forth in the Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantConsent form.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) Either party may at any time and from time to time surrender its entire interest with respect to any portion or 14(b), upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result Lands by giving to the other party, at least sixty (60) days before the date for payment of rentals attributable to those portions of the removal Lands proposed to be surrendered or the accrual of Tenant’s personal property any obligation thereon other than the obligation to pay royalties, a written notice (hereinafter called the "surrender notice"), which shall be repaired by Tenant at its sole cost duly executed and expense. Tenant’s obligation to observe or perform this covenant which shall survive specify the expiration or sooner termination portions of the TermLands proposed to be surrendered (which portions are hereinafter called the "surrendered rights"). It is specifically understood that the surrendered rights shall be of a size and dimension which the other party hereto can in turn surrender should it wish to do so.
(b) Except for any applicable transition periods pursuant If the party to whom the surrender notice is given fails to advise the party giving the notice, in writing, within twenty (20) days after receipt of the surrender notice, that it elects to join in the surrender of the surrendered rights, the party giving the surrender notice shall convey to the Transition Rightsother party its entire interest in and to the surrendered rights, which for purposes and the ▇▇▇▇▇, equipment and material located thereon and attributable thereto, and thereupon the parties hereto shall do all things and complete and deliver all documents necessary to register the entire interest in the surrendered rights in the name of this Section 18(b) the party who did not elect to join in the surrender, and upon such conveyance "the Lands" shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Leaseamended so as to exclude therefrom the surrendered rights. If Panarctic is the surrendering party as to any Permit or lease or portion thereof, and, Panarctic will in addition to its obligations above insure at its expense that there are sufficient allowable expenditures, cash, rent or otherwise to maintain the properties in good standing for a period not less than one year from the date of conveyance. The party receiving such conveyance shall forthwith pay to Operator for credit to the account of the parties a sum equal to the fair salvage value of all recoverable material and equipment located upon and attributable to the surrendered rights less the estimated cost of salvaging, such value to be determined in accordance with the Accounting Procedure. Upon the execution and delivery of the conveyance by the surrendering party, the surrendering party shall be released and discharged from all obligations thereafter accruing with respect to the surrendered rights, but such conveyance shall not release the surrendering party from its proportionate share of any rights Landlord obligation or liability which ought to have been performed or may have under accrued prior to the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) conveyance of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantsurrendered rights.
Appears in 1 contract
Surrender. (a) Section 22.01 Except as is herein otherwise provided in Section 2(c) provided, Lessee shall on the last day of the Term or 14(b), upon the expiration or other any earlier termination of this Lease, well and truly surrender and deliver up the Term, Tenant shall, without notice from Landlord, quit Demised Premises and surrender to Landlord the Premises, vacant, broom-clean, and (subject Improvements to the provisions possession and use of Article 8 hereof) Lessor without fraud or delay and in substantially the same good order, condition and repair as on the Commencement Daterepair, except for reasonable wear and tear and damage by casualty or condemnation expenses, free and clear of all lettings and occupancies other than subleases then terminable at the option of the Lessor thereof or subleases to which Landlord is obligated to repair hereunder exceptedLessor shall have specifically consented, and free and clear of all liens and encumbrances other than those, if any, presently existing or created or suffered by Lessor.
Section 22.02 Unless otherwise agreed by the parties hereto in a writing executed by both parties prior to the Expiration Date of this Lease, there shall surrender 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 Leased Equipment Demised Premises to Landlord Lessor shall be an unlawful holdover. During any period in substantially which Lessee so holds over, at Lessor's option, the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions rental value of the Building as a result 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 removal of Tenant’s personal property calendar month in which Lessee so delivers the Demised Premises, shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation deemed to observe or perform this covenant shall survive the expiration or sooner termination be equal to (i) one hundred fifty (150%) percent of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond Net Rent payable immediately preceding the expiration or earlier termination of this Lease, and (ii) 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 holding rent during the period in which Lessee so holds over shall not be deemed to be an extension cure or waive Lessee's default, nor prevent Lessor from exercising, before or after such acceptance, any of the remedies provided by this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, Lease or at law or in equity. Payment of 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, Landlord 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 proceedings that Lessor may institute against Lessee. If the Demised Premises are not surrendered upon the expiration or earlier termination of this Lease with respect to all or any portion of the Demised Premises, Lessee hereby indemnifies Lessor against loss, cost, injury, damage, claim, expense, or liability (including reasonable attorneys' fees and disbursements) resulting from delay by Lessee in so surrendering the same, including any claims made by any succeeding tenant or prospective tenant or prospective tenant founded upon such delay. Lessee's obligations under this Article shall survive the expiration or earlier termination of the Term.
Section 22.03 All appurtenances, fixtures, improvements, additions and other property 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 be entitled and remain the property of Lessor, except that any such fixtures, improvements, additions and other property installed at the sole expense of Lessee with respect to recover which Lessee has not been granted any credit or allowance by Lessor, and all damages (includingwhich are removable without material damage to the Demised Premises may be removed by Lessee on condition that Lessee shall repair at its expense any damage to the Demised Premises or the Building resulting from such removal.
Section 22.04 Any personal property of Lessee or any sublessee which shall remain in the Improvements after the termination of this Lease and the removal of Lessee or such sublessee from the Improvements, may, at the option of Lessor, be deemed to have been abandoned by Lessee or such sublessee and either may be retained by Lessor as its property or be disposed of, without limitationaccountability, in such manner as Lessor may see fit, or if Lessor shall give written notice to Lessee to such effect, such property shall be removed by Lessee at Lessee’s sole cost and expense.
Section 22.05 The provisions of this Article shall survive any out-of-pocket costs associated with any repairs, replacements, removal termination 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantthis Lease.
Appears in 1 contract
Sources: Lease (P&f Industries Inc)
Surrender. Subject to the provisions of the Landlord's Waiver and Consent, which LESSOR agrees to execute for the benefit of LESSEE's equipment lessor, substantially in the form attached hereto as Exhibit __ , the LESSEE shall at the expiration or other termination of this Lease yield up and peaceably surrender all portions of the Leased Premises to LESSOR and shall remove all LESSEE'S goods and effects therefrom (a) Except including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the LESSEE, either inside or outside the Leased Premises). LESSEE shall deliver to the LESSOR the Leased Premises and all keys, locks thereto, and all fixtures, alterations and additions made to or upon the Leased Premises, except for moveable partitions and furnishings installed at the LESSEE'S expense, in the same condition as otherwise provided they were at the commencement of the term, or as they were put in Section 2(c) during the term hereof, reasonable wear and tear and damage by fire, other casualty or 14(b)eminent domain and matters for which the LESSOR is responsible hereunder only excepted. All moveable partitions and furnishings, upon and so long as LESSEE has expended $1.7 million dollars in Tenant Improvements, those items specified on Exhibit __ attached to this Lease, installed in the Leased Premises at the LESSEE's expense prior to -41- 55 or during the term of the Lease may be removed by the LESSEE at the expiration or other termination of the Term, Tenant Lease. The LESSEE shall, without notice at its expense, promptly repair any and all damage to the Leased Premises resulting from Landlord, quit and surrender such removal. In the event of the LESSEE'S failure to Landlord remove any of the LESSEE'S property from the Leased Premises, vacantLESSOR is hereby authorized, broom-cleanupon fifteen (15) days written notice to the LESSEE without liability to LESSEE for loss or damage thereto, and (subject at the sole risk of LESSEE, to the provisions of Article 8 hereof) in substantially the same condition remove and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession store any of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its LESSEE's sole cost and expense. Tenant’s obligation It is expressly acknowledged and understood by the parties that the Tenant Improvements and built in equipment, such as fume hoods, installed at the commencement of this Lease to observe the first and second floor of the Leased Premises and the Supplemental Space Tenant Improvement Work, (as distinguished from moveable partitions, personal property, or perform this covenant the capital equipment listed on Exhibit __), shall survive become the property of the LESSOR at the expiration or sooner termination of this Lease. Moreover, it is expressly agreed, in the Term.
(b) Except for any applicable transition periods pursuant to event of an uncured default, that the Transition Rightsitems on Exhibit __, which for purposes of this Section 18(b) shall may not be considered a hold over removed by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 costsLESSEE, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) become the property of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLESSOR.
Appears in 1 contract
Sources: Sublease (Interliant Inc)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon At the expiration of the Term or other earlier termination of this Lease, Tenant shall promptly yield up the Premises and all fixtures, improvements, alterations and additions thereto (except for Tenant’s trade fixtures and Tenant’s equipment) in a condition which is clean of garbage and debris and broom clean and in the same condition, order and repair in which they are required to be kept throughout the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable ordinary wear and tear and damage which Landlord is obligated to repair hereunder excepted, by fire and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear other insured casualty excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal All of Tenant’s personal property shall required to be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) Except for any applicable transition periods removed pursuant to the Transition Rights, which for purposes of this Section 18(b) shall Lease not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail removed prior to remove any of its personal property beyond the expiration or earlier termination of this LeaseLease 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 a holding over by Tenant under Section 28(b) hereunder until such failure is rectified by Landlord or Tenant.
b) If Tenant, or any person claiming through Tenant, continues to occupy the Premises after the expiration of the Term or earlier termination of this Lease or any renewal thereof the tenancy under this Lease shall become, at the option of Landlord, expressed in a written notice to Tenant and not be deemed to be an extension of otherwise, month-to-month, terminable by Tenant or Landlord on thirty (30) days prior notice, under the same terms and conditions set forth in this Lease, andexcept that, in addition to any rights regardless of whether Landlord may have under grants such consent, the terms of this Lease, or at law or in equity, Landlord Fixed Basic Rent during such continued occupancy shall be entitled to recover any one hundred 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred fifty percent (200150%) of the Base Rent payable on amount set forth in the date immediately preceding such holdover Preamble for each day thereafter that Tenant remains in occupancy the last month of the PremisesTerm. Subject Anything to the parenthetical in the immediately preceding sentence regarding the scope of damagescontrary notwithstanding, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantTenant without Landlord’s prior written consent shall constitute an event of default under this Lease and shall be deemed a tenancy at sufferance and shall be subject to all the remedies set forth in Subsection 29(b) of this Lease.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject Subject to the provisions of Article 8 SECTION 5.07 hereof) in substantially the same condition and repair as , on the Term Expiration Date (or earlier termination of this Lease), ▇▇▇▇▇▇ shall quit and surrender possession of the Leased Premises to Landlord in as good order and condition as they were in on the Term Commencement Date, reasonable wear and tear tear, taking by condemnation and damage which Landlord is obligated by casualty excepted. Reasonable wear and tear shall not include any damage or deterioration that would have been prevented by good maintenance practice or by Tenant performing all of its obligations under this Lease. Tenant shall, without cost to repair hereunder exceptedLandlord, remove all furniture, equipment, trade fixtures, debris and articles of personal property owned by Tenant in the Leased Premises, and shall surrender possession of repair any damage to the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the BuildingProject resulting from such removal. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal such property shall be repaired not removed by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive by the expiration or sooner termination of the Term.
Term Expiration Date (b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease) shall be considered abandoned, and Landlord may remove any or all of such holding over items and dispose of same in any lawful manner or store same in a public warehouse or elsewhere for the account and at the expense and risk of Tenant. If Tenant shall not be deemed fail to be an extension pay the cost of this Leasestoring any such property after storage for thirty (30) days or more, andLandlord may sell any or all of such property at public or private sale, in addition to any rights such manner and at such times and places as Landlord may have deem proper, without notice to or demand upon Tenant. Landlord shall apply the proceeds of any such sale as follows: first, to the costs of such sale; second, to the costs of storing any such property; third, to the payment of any other sums of money which may then or thereafter be due to Landlord from Tenant under any of the terms of this Lease; and fourth, or at law or in equitythe balance, Landlord shall be entitled if any, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the Upon expiration or other earlier termination of the TermTenant's right of possession, Tenant shallTenant, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially Section 42 below and to the same condition and repair as on the Commencement Dateexercise of any remedies by Landlord, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, may remove Tenant's Property and shall surrender possession of the Leased Equipment Premises to Landlord in substantially the same order and repair condition as on the Commencement Datereceived, reasonable broom clean, ordinary wear and tear tear, approved Alterations, and casualty loss and condemnation covered by Sections 18 and 19 excepted, and shall return to Landlord all keys to offices and restrooms furnished to, or otherwise procured by, Tenant. In additionIf any such key is lost, Tenant shall remove all pay to Landlord, at Landlord's election, either the cost of its personal property located at replacing such lost key or in the Premises cost of changing the lock or elsewhere in the Buildinglocks opened by such lost key. Any damage caused to the Premises Trade Fixtures, Alterations, and property not so removed by Tenant as permitted or any other portions of the Building as a result of the removal of Tenant’s personal property required herein shall be repaired deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant's expense, and Tenant at its sole cost and expensewaives all claims against Landlord for any damages resulting from Landlord's retention and/or disposition of such property. Tenant’s obligation to observe or perform this covenant shall survive All obligations of either party that have arisen and/or become binding hereunder but have not been fully satisfied as of the expiration or sooner earlier termination of this Lease shall survive such expiration or earlier termination, including without limitation, indemnity obligations, payment obligations (including Rent), obligations concerning the Term.
(b) Except for any applicable transition periods pursuant condition and repair of the Premises, and the obligation to obtain all required Hazardous Materials Clearances. Without limiting the Transition Rightsgenerality of the foregoing, which for purposes of this Section 18(b) the following provisions shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond survive the expiration or earlier termination of this Lease: (a) the indemnity obligations contained in Sections 7, such holding over shall not be deemed to be an extension of this Lease12, and14(b), in addition to any rights Landlord may have under the terms of this Lease16(a), or at law or in equity16(b), Landlord shall be entitled to recover any and all damages (including30(a), without limitation30(d), 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 holding over35, and Tenant shall also be obligated 38(b); (b) the payment obligations contained in Sections 3, 5, 6, 8, 9, 11, 15, 21(a), 21(b), 22(d), and 42; (c) the maintenance, repair, restoration, and/or demolition obligations contained in Sections 12, 13, 18, and 42; (d) the obligation to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent obtain Net Greenhouse Lease ▇.▇. ▇▇▇▇▇▇▇▇▇ Ave., RTP/Paradigm Genetics, Inc.-Page 29 Hazardous Materials Clearances contained in Sections 18 and 42; and (200%e) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains agreements contained in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesSections 29, Tenant shall indemnify 36, and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant44.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) 21.01. On the Expiration Date or 14(b), upon sooner termination of this Lease or upon any re-entry by Landlord upon the expiration or other termination of the TermPremises, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense, quit, surrender, vacate and deliver the Premises to Landlord "broom clean" and 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). Tenant may remove from the Real Property any or all of Tenant’s obligation 's Property, the UPS system and/or the Generator and the Antenna and shall remove all personal property and personal effects of all persons claiming through or under Tenant, and shall repair all damage to observe the Premises and the Real Property occasioned by such removal, or perform in the alternative elect to pay Landlord the cost if repair of such damage.
Section 21.02. Tenant expressly waives, for itself and for any person claiming through or 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 covenant Article.
Section 21.03. Any personal property which shall survive remain in the expiration Premises after the termination of this Lease shall be deemed to have been abandoned and either may be retained by Landlord as its property or sooner may be disposed of in such manner as Landlord may see fit; provided, however, that notwithstanding the foregoing, Tenant will, upon request of Landlord made not later than 20 days after the termination of the TermLease, promptly remove from the Building any personal property at Tenant's own cost and expense. If such personal property or any part thereof 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 personal property shall be reimbursed to Landlord by Tenant as Additional Rent on demand.
(b) 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 shall hold over and remain on 21.04. If the Premises or fail to remove any of its personal property beyond are not surrendered upon the expiration or earlier date which is three (3) months after the termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to Landlord's other remedies hereunder, Tenant hereby indemnifies Landlord and holds it harmless against any rights Landlord may have under loss and/or liability resulting from delay by Tenant in so surrendering the terms of this LeasePremises, 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 claims made by any repairssucceeding tenant or prospective tenant founded upon such delay, 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 holding over, and Tenant shall also be obligated prospective tenancy relating to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of such delay.
Section 21.05. In the Base Rent payable on the date immediately preceding such holdover for each day thereafter that event Tenant remains in occupancy possession of the Premises. Subject Premises after the termination of this Lease without the execution of a new lease, Tenant, at the option of Landlord, shall be deemed to be occupying the Premises as a tenant from month to month, at a monthly rental equal to the parenthetical in greater of 1-1/2 times the immediately preceding sentence regarding Fixed Rent plus Additional Rent payable during the scope last month of damagesthe Term and the then fair market value of the Premises as reasonably determined by Landlord, Tenant subject to all of the other terms of this Lease Insofar as the same are applicable to a month-to-month tenancy.
Section 21.06. Tenant's obligations under this Article shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out survive the termination of such holding over by Tenantthis Lease.
Appears in 1 contract
Sources: Lease (Instinet Group LLC)
Surrender. (a) Except as otherwise provided Subject to its rights of removal described in Section 2(c) or 14(b)12 above, upon the Lessee shall at the expiration or other termination of this Lease remove all Lessee’s goods and effects from the Premises (including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the Lessee, either inside or outside the Premises). Lessee shall deliver to the Lessor the Premises and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the Premises, in the same condition as they were at the commencement of the Term, Tenant shallor in the case of permitted alterations, without notice from Landlord, quit additions and surrender to Landlord improvements as they were put in during the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 term hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage by fire or other casualty and condemnation and repairs which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear are Lessor’s responsibility only excepted. In additionthe event of the Lessee’s failure to remove any of Lessee’s property from the Premises, Tenant shall Lessor is hereby authorized, without liability to Lessee for loss or damage thereto, and at the sole risk of Lessee, to remove and store any of the property at Lessee’s expense, or to retain same under Lessor’s control or to sell at public or private sale, without notice, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property. Lessee recognizes that the Lessor may be required to guarantee delivery of possession to the new occupant promptly upon the expiration or earlier termination of this Lease. Accordingly, Lessee specifically agrees to remove all of its personal property located at or in goods and effects and to deliver full possession of the Premises or elsewhere in to Lessor not later than the Building. Any damage caused to the Premises or any other portions date of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner earlier termination hereof in order to avoid substantial, and perhaps irreparable harm to Lessor, Lessee agrees that Lessor shall have all remedies available at law or in equity for Lessee’s failure so to do. In addition to all such remedies, Lessee further agrees that any holding over by it which has not been consented to in writing by Lessor shall be treated as a tenancy at sufferance at the greater of (i) one and one-half times the monthly rent, or (ii) market rent for one (1) year (on a monthly basis), plus other charges then applicable as of the Term.
(b) Except for any applicable transition periods pursuant to the Transition Rights, which for purposes date of this Section 18(b) shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, and such holding over tenancy at sufferance shall otherwise be on the terms and conditions set forth in this Lease so far as applicable. Any monies received after the termination date of the Lease will be applied for “use and occupancy only” and will not reestablish the tenancy and shall otherwise be deemed to be an extension of on the terms and conditions set forth in this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantfar as applicable.
Appears in 1 contract
Sources: Lease Agreement (Abiomed Inc)
Surrender. Upon one hundred and eighty days (a180) Except written notice to Lessor, Lessee may, in its sole discretion, surrender and terminate this Agreement without liability hereunder if a suitable purchaser of Processed Gas Products cannot be obtained or maintained, or if Landfill Gas cannot reasonably be recovered from the Landfill in Commercial Quantities, and thereby be relieved of all obligations as otherwise to Lessor; provided in such failure to find a suitable purchaser or recover Commercial Quantities is not due to the actions of GSF. Upon any surrender pursuant to this Section 2(c) or 14(b)4.3, Lessee shall retain such rights of way and easements over, upon and across the expiration Landfill as shall be necessary or other termination convenient for Lessee to comply with its obligations pursuant to Section 5.2(c) and Rumpke shall have the option to purchase the Gas Processing Facilities. GSF and Rumpke shall act reasonably and in good faith to negotiate a purchase price for the Gas Processing Facilities. In the event the parties are unable to reach an agreement with respect to the purchase price within fifteen (15) days of GSF’s notice of surrender, the parties shall mutually select a third- party appraiser (the “Appraiser”) and evenly split the fees for the Appraiser’s services. The Appraiser’s report indicating the appraised fair market value of the Term, Tenant shall, without notice from Landlord, quit and surrender Gas Processing Facilities shall be delivered to Landlord the Premises, vacant, broom-clean, and both parties within thirty (subject to the provisions 30) days of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession engagement of the Leased Equipment Appraiser. Upon receipt of the Appraiser’s report, Rumpke shall have fifteen (15) days to Landlord in substantially accept the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or appraised value in the Premises or elsewhere in Appraiser’s report and agree to purchase the BuildingGas Processing Facilities at the value stated therein. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property If Rumpke declines, GSF shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation free to observe retain or perform this covenant shall survive sell the expiration or sooner termination of the TermGas Processing Facilities to another party.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon 15.1 On the expiration or other termination last day of the Termterm demised, or the sooner termination thereof, Tenant shall, without notice from Landlord, quit and shall peaceably surrender to Landlord the Premises, vacant, Premises broom-clean, in good order, condition and (repair, subject to the provisions of Article 8 section 1.4 hereof) in substantially . If the same condition and repair as on Premises are not surrendered at the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession end of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In additionterm or sooner termination thereof, Tenant shall remove indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Premises, including without limitation, claims made by and succeeding Tenant founded by such delay. Tenant shall promptly surrender all of its personal property located at or in keys for the Premises or elsewhere in the Building. Any damage caused premises to the Premises or any other portions Landlord at the place then fixed for payment of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expenserent. Tenant’s obligation to observe or perform this covenant 's covenants hereunder shall survive the expiration or sooner termination of the Termthis Lease.
(b) Except for any applicable transition periods pursuant to 15.2 If the Transition Rights, which for purposes Tenant shall occupy the Premises with the consent of the Landlord after the expiration of this Section 18(bLease and the rent is accepted from 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 Lease expired, and occupation thereafter shall operate to extend the term of this Lease for but one (1) shall not be considered month at a hold over time, unless other terms of such expiration are made in writing and signed by Tenantthe parties hereto. In such event, if either Landlord or Tenant shall hold over and remain on desires to terminate said occupancy at the Premises or fail to remove end of any of its personal property beyond month after the expiration or earlier termination of this Lease, the Party so desiring to terminate shall give the other party at least thirty (30) days written notice to that effect. Failure on the part of the Tenant to give such holding over notice shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated obligate it to pay to Landlord a per diem amount based on such rent for an annual rate equal to two hundred percent (200%) of additional calendar month following the Base Rent payable on month in which the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of has vacated the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Surrender. (a) Except Section 4.1 On the last day of the term hereof, as otherwise provided it may be extended by LESSEE'S exercise of the renewal option contained in Section 2(c) 1 .3 hereof, or 14(b)upon any earlier termination of this Lease, or upon any legally justified reentry by LESSOR upon the expiration or other termination Demised Premises, LESSEE shall surrender the Demised Premises, together with all improvements located thereon and, except as provided for at Section 4.2, all fixtures and articles of personal property attached to the building at the Demised Premises and which are the property of LESSEE and let LESSOR into the possession and use of the Term, Tenant shall, Demised Premises without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-cleandelay, and (subject to the provisions of Article 8 Section 4.2 hereof) , in substantially the same good order, condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Daterepair, reasonable wear and tear excepted. In addition, Tenant shall remove and free and clear of all of its personal property located at liens and encumbrances other than those, if any, permitted by this Lease or in the Premises created or elsewhere in the Building. Any damage caused consented to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the TermLESSOR.
(b) Except for any applicable transition periods pursuant to Section 4.2 Where furnished by or at the Transition Rightsexpense of LESSEE, which for purposes of this Section 18(b) furniture, trade fixtures and business equipment, may be removed by the LESSEE; provided, however, that LESSEE shall not be considered a hold over by Tenantin default on any covenants of this Lease and LESSEE shall with due diligence, if Tenant shall hold over and remain on without expense to LESSOR, cause the Demised Premises or fail to remove be restored to the condition prior to such removal and cause any of its personal property beyond injury due to such removal to be repaired promptly upon the expiration or earlier termination of this Lease.
Section 4.3 Any personal property of LESSEE or any sublessee which shall remain in the Demised Premises after the termination of this Lease may, at the option of LESSOR, be deemed to have been abandoned by LESSEE or such holding over sublessee and either may be retained by LESSOR as its property or be disposed of without accountability in such manner as LESSOR may deem fit.
Section 4.4 LESSOR shall not be deemed to be an extension of this Lease, and, in addition responsible for any loss or damage occurring to any rights Landlord may have under the terms of this Lease, 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 owned by Landlord as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantLESSEE.
Appears in 1 contract
Sources: Lease (Peaches Entertainment Corp)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon Tenant shall on the expiration or other termination last day of the Term, Tenant shall, without notice from Landlordor upon any earlier termination of this Lease, quit and peacefully surrender to Landlord and deliver up the Premises, vacant, broom-clean, including the Tenant Improvements and (subject all other improvements to the provisions Premises, to the possession and use of Article 8 hereof) the Landlord without delay and in substantially the same good order, condition and repair as on the Commencement Date, (excepting only reasonable wear and tear and damage which from a Taking or from a fire or other casualty after the last repair, replacement, restoration or renewal required to be made by Tenant, all as provided under this Lease) and in accordance with the Brand Standards. The Premises shall at that time be free and clear of all leases and occupancies, except as may be permitted under this Lease. The Premises shall be surrendered free and clear of all liens and encumbrances other than those existing at the commencement of the Term, or created or suffered by the Landlord is obligated to repair or permitted hereunder excepted, and shall surrender possession be surrendered without any payment by the Landlord on account of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises Improvements or any other portions of the Building as a result of the removal of Tenant’s personal property shall improvements which may be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises Premises. Upon or fail to remove at any of its personal property beyond time after the expiration or earlier termination of this Lease, subject to the rights of any subtenant or other occupant under a non-disturbance and attornment agreement executed by the Landlord and such holding over subtenant or occupant pursuant to Section 11.02, the Landlord may, without further notice, enter upon and re-enter the Premises and possess and repossess itself thereof, by force, summary proceedings, ejectment or otherwise, and may dispossess Tenant and remove Tenant and all other persons and property from the Premises, and may have, hold and enjoy the Premises and the right to receive all income from the same. Upon termination of this Lease, whether at the end of the Term or upon any earlier termination, all Building Equipment, and the portion of the FF&E located on the Hotel portion of the Premises and other personal property then located on the Hotel portion of the Premises shall be surrendered to and become the property of the Landlord. Notwithstanding the foregoing, upon the expiration of the Term or upon an earlier termination of the Lease for any reason other than an Event of Default, FF&E in the Casino and other movable personal property and trade fixtures installed at the expense of Tenant or any sublessee, but excluding any Building Equipment or Hotel Property, may be removed by Tenant or such sublessee, and shall not be deemed to be an extension attached to the freehold nor the property of, nor surrendered to, Landlord, provided that the removal of this Leaseany such property does not structurally injure the Tenant Improvements, andnecessitate changes in the Tenant Improvements or render the Tenant Improvements or any part thereof unfit for use and occupancy. Tenant shall pay the cost of repairing any damage to the Premises or Tenant Improvements arising from the removal of such property, in addition to any rights Landlord may have under and such obligation shall survive the terms Term. All such property not so removed by the expiration or earlier termination of this Lease, or at law or in equity, Landlord the Term shall be entitled to recover any deemed abandoned by Tenant and all damages (includingsublessees, 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 may be retained by Landlord as a result its property or disposed of Tenant’s holding over, and in such manner as Landlord sees fit with the right to retain any proceeds therefrom as its own. Within one (1) year prior to the end of the Term. Tenant shall also be obligated to pay to provide Landlord with a per diem amount based on an annual rate equal to two hundred percent (200%) list of the Base Rent payable on the date immediately preceding such holdover for each day thereafter FF&E and other movable personal property and trade fixtures that Tenant remains in occupancy intends to remove upon expiration or earlier termination of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope this Lease for any reason other than an Event of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantDefault.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) 24.01 On the last day of the term of this Lease, or 14(b)upon any earlier termination of this Lease, or upon any reentry by Landlord upon the expiration or other termination of the TermDemised Premises, Tenant shall, without notice from Landlord, shall quit and surrender the Demised Premises to Landlord the Premises, vacant, broom-broom clean, in good order, condition and (repair except for ordinary wear and tear and damage by fire or other insured casualty; Tenant shall remove Tenant's property subject to the provisions of Article 8 14 hereof) in substantially the same condition ; and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and Tenant shall surrender to Landlord all keys to offices, 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 Leased Equipment 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 Landlord in substantially be 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 insofar as the same order and repair as on are applicable to a month to month tenancy.
24.03 In the Commencement Date, reasonable wear and tear excepted. In addition, event Tenant shall remove all of its personal property located at or remains in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions possession of the Building as a result of Demised Premises following the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, 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 holding over shall not be deemed to be an extension delay by Tenant in surrendering the Demised Premises upon the termination of this LeaseLease as provided in this Article 24, andincluding without limitation, any 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 be in default, and in addition to any rights Landlord may have under the terms of this Lease, or at law or rent provided in equitySection 24.02 hereof, Landlord shall be entitled to recover any all of its rights 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains remedies provided in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantthis Lease.
Appears in 1 contract
Surrender. (a) Except Grantee may, at any time during which Issuer would be required to repurchase the Option or any Option Shares pursuant to Section 7, surrender the Option (together with any Option Shares issued to and then owned by Grantee) to Issuer in exchange for a cash fee equal to the Surrender Price (as otherwise provided in defined below); provided, however, that Grantee may not exercise its rights pursuant to this Section 2(c15 if Issuer has repurchased the Option (or any portion thereof) or 14(b)any Option Shares pursuant to Section 7. The "Surrender Price" shall be equal to (i) $150 million, upon plus (ii) if applicable, the expiration or other termination aggregate purchase price previously paid pursuant hereto by Grantee with respect to any Option Shares, minus (iii) if applicable, the sum of (x) the Termexcess of (1) the net cash amounts, Tenant shallif any, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject received by Grantee pursuant to the provisions arms' length sale of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises Option Shares (or any other portions securities into which such Option Shares were converted or exchanged) to any party not affiliated with Grantee, over (2) the aggregate purchase price previously paid pursuant hereto by Grantee with respect to such Option Shares and (y) the net cash amounts, if any, received by Grantee pursuant to an arms' length sale of a portion of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation Option to observe or perform this covenant shall survive the expiration or sooner termination of the Termany party not affiliated with Grantee.
(b) Except for Grantee may exercise its right to surrender the Option and any applicable transition periods Option Shares pursuant to this Section 15 by surrendering to Issuer, at its principal office, this Agreement together with certificates for Option Shares, if any, accompanied by a written notice stating (i) that Grantee elects to surrender the Transition RightsOption and Option Shares, which for purposes if any, in accordance with the provisions of this Section 18(b15 and (ii) the Surrender Price. The Surrender Price shall be payable in immediately available funds on or before the second business day following receipt of such notice by Issuer.
(c) To the extent that Issuer is prohibited under applicable law or regulation or as a consequence of administrative policy arising thereunder from paying the Surrender Price to Grantee in full, Issuer shall immediately so notify Grantee and thereafter deliver or cause to be delivered, from time to time, to Grantee, the portion of the Surrender Price that Issuer is no longer prohibited from paying, within five business days after the date on which Issuer is no longer so prohibited, provided, however, that if Issuer at any time after delivery of a notice of surrender pursuant to paragraph (b) of this Section 15 is prohibited under applicable law or regulation or as a consequence of administrative policy arising thereunder from paying to Grantee the Surrender Price in full (i) Issuer shall (x) use its reasonable best efforts to obtain all required regulatory and legal approvals and to file any required notices as promptly as practicable in order to make such payments, (y) within five days of the submission or receipt of any documents relating to any such regulatory and legal approvals, provide Grantee with copies of the same, and (z) keep Grantee advised of both the status of any such request for regulatory and legal approvals, as well as any discussions with any relevant regulatory or other third party reasonably related to the same and (ii) Grantee may revoke such notice of surrender by delivery of a notice of revocation to Issuer and, upon delivery of such notice of revocation, the Exercise Termination Date shall be extended to a date six months from the date on which the Exercise Termination Date would have occurred if not be considered a hold over by Tenant, if Tenant shall hold over and remain on for the Premises or fail to remove provisions of subsection (c) of this Section 15 (during which period Grantee may exercise any of its personal property beyond the expiration or earlier termination of this Leaserights hereunder, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, or at law or in equity, Landlord shall be entitled to recover including any and all damages rights pursuant to this Section 15).
(includingd) Grantee shall have rights substantially identical to those set forth in subsections (a), 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 (b) and any loss of business or profits, whether or not foreseeable) suffered by Landlord as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%c) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject this Section 15 with respect to the parenthetical Substitute Option and the Substitute Option Issuer during any period in which the immediately preceding sentence regarding Substitute Option Issuer would be required to repurchase the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited Substitute Option pursuant to reasonable attorneys’ fees, arising out of such holding over by TenantSection 9.
Appears in 1 contract
Sources: Stock Option Agreement (Old Kent Financial Corp /Mi/)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the expiration or other termination of the Term, Tenant shall, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject Subject to the provisions of Article 8 hereof) in substantially the same condition paragraphs 14, 15 and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond 18 upon the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension the term of this Lease, andLessee shall surrender the Leased Properties to Lessor in the same condition in which the Leased Properties were originally leased from Lessor as of the date of this Lease (excluding the ▇▇▇▇ Liquefaction Equipment), in addition to except as repaired, rebuilt, restored or modified as permitted by any rights Landlord may have under the terms provision of this Lease, or and except for ordinary wear and tear. If the Lessee has not provided Lessor with the purchase option notice contemplated by paragraph 18 at law or in equityleast 180 days before the end of the term of this Lease, Landlord it will be deemed that Lessee has elected to surrender the Leased Properties to Lessor at the end of the term of this Lease. If Lessee has elected to surrender the Leased Properties at the end of the term of this Lease (expressly excluding any surrender of the Leased Properties resulting from an Event of Default by Lessee hereunder), Lessor and Lessee shall consult for the purpose of determining the amount, if any, of the Return Adjustment Amount (as herein defined) owed by Lessee to Lessor and to be paid on the last day of the term of this Lease. For purposes hereof, the "Return Adjustment Amount" shall be entitled to recover any and all damages the positive difference, if any, between: (including, without limitation, any out-of-pocket costs associated with any repairs, replacements, removal a) the fair market sales value 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 the Leased Properties taken as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent whole (200%expressly including the ▇▇▇▇ Liquefaction Equipment) at the end of the Base Rent payable term of this Lease assuming (i) (notwithstanding the fact that the ▇▇▇▇ Liquefaction Equipment has been dismantled and disposed of in accordance with subparagraph 8(d) hereof) that the ▇▇▇▇ Liquefaction Equipment is in place on the date immediately preceding such holdover for each day thereafter that Tenant remains ▇▇▇▇ Land Parcel and has been maintained in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify good operating condition and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.has all necessary permits and
Appears in 1 contract
Sources: Lease Agreement (Boston Gas Co)
Surrender. (a) Except as otherwise provided in Section 2(cset forth to the contrary herein, within sixty (60) or 14(b), upon days following the expiration or other termination of this Agreement pursuant to Section 8.3 and while continuing to pay rent (the Term“Equipment Removal Period”), in accordance with the terms of this Agreement, Tenant shall, without notice from Landlord, quit and will surrender the Premises to Landlord in a condition similar to that which existed immediately prior to Tenant’s Installation together with any additions alteration and improvements to the Premises, vacantin either case, broom-clean, and (subject to the provisions of Article 8 hereof) in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable normal wear and tear excepted. In additionSubject to Section 3.2, Tenant shall remove all of its personal property located at or in have the right to access the Premises or elsewhere in the Building. Any damage caused to the Premises remove any or any other portions of the Building as a result of the removal all of Tenant’s personal Equipment from the Premises at any time during the Term or the Equipment Removal Period. If Tenant’s Equipment is not removed at the conclusion of the Equipment Removal Period, Tenant will be deemed to be in Hold Over (as defined in Section 7.2 below) until Tenant’s Equipment is removed from the Premises, provided the Hold Over term shall not exceed one hundred twenty (120) days unless otherwise agreed to by both parties in writing. If Tenant fails to remove Tenant’s Equipment within one hundred twenty (120) days following the expiration of the Equipment Removal Period, or such later period agreed to by the Parties, then Landlord shall have the option – to be exercised by prior Notice to Tenant – to declare Tenant’s Equipment abandoned and Landlord may remove and dispose of the Tenant’s Equipment. If Landlord exercises this option, then following at least thirty (30) days written Notice to Tenant (i) Landlord shall take possession and title of the property and dispose of it in a commercially reasonable manner; (ii) the reasonable costs associated with removal and disposition of the property shall be repaired by itemized and billed to Tenant at one hundred and twenty-five percent (125%) of its sole actual documented cost (“Removal Fee”); (iiiv) Tenant shall pay such Removal Fee within thirty (30) days of such billing; and expense. (iv) Tenant’s obligation to observe or perform this covenant pay rent at the Holdover rate shall survive the expiration or sooner termination of the Termterminate.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Sources: Site Lease Agreement
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the Upon expiration or other earlier termination of the TermTenant's right of possession, Tenant shallmay, without notice from Landlord, quit and surrender to Landlord the Premises, vacant, broom-clean, and (subject to the provisions exercise of Article 8 hereof) in substantially the same condition and repair as on the Commencement Dateany remedies by Landlord, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, remove Tenant's Property and shall surrender possession of the Leased Equipment Premises to Landlord in substantially the same order and repair condition as on the Commencement Datereceived, reasonable broom clean, ordinary wear and tear tear, approved Alterations, and casualty loss and condemnation covered by Sections 18 and 19 excepted, and shall return to Landlord all keys to offices and restrooms furnished to, or otherwise procured by, Tenant. In additionIf any such key is lost, Tenant shall remove all pay to Landlord, at Landlord's election, either the cost of its personal property located at replacing such lost key or in the Premises cost of changing the lock or elsewhere in the Buildinglocks opened by such lost key. Any damage caused to the Premises Trade Fixtures, Alterations, and property not so removed by Tenant as permitted or any other portions of the Building as a result of the removal of Tenant’s personal property required herein shall be repaired deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant's expense, and Tenant at its sole cost and expensewaives all claims against Landlord for any damages resulting from Landlord's retention and/or disposition of such property. Tenant’s obligation to observe or perform this covenant shall survive All obligations of either party that have arisen and/or become binding hereunder but have not been fully satisfied as of the expiration or sooner earlier termination of this Lease shall survive such expiration or earlier termination, including without limitation, indemnity obligations, payment obligations (including Rent), obligations concerning the Term.
(b) Except for any applicable transition periods pursuant condition and repair of the Premises, and the obligation to obtain all required Hazardous Materials Clearances. Without limiting the Transition Rightsgenerality of the foregoing, which for purposes of this Section 18(b) the following provisions shall not be considered a hold over by Tenant, if Tenant shall hold over and remain on the Premises or fail to remove any of its personal property beyond survive the expiration or earlier termination of this Lease: (a) the indemnity obligations contained in Sections 7, such holding over shall not be deemed to be an extension of this Lease12, and14(b), in addition to any rights Landlord may have under the terms of this Lease16(a), or at law or in equity16(b), Landlord shall be entitled to recover any and all damages (including30(a), without limitation30(d), 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 holding over35, and Tenant shall also be obligated 38(b); (b) the payment obligations contained in Sections 3, 5, 6, 8, 9, 11, 15, 21(a), 21(b), and 22(d); (c) the maintenance, repair, and/or restoration obligations contained in Sections 12, 13, and 18; (d) the obligation to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent obtain Hazardous Materials Clearances contained in Section 18; and (200%e) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains agreements contained in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damagesSections 29, Tenant shall indemnify 36, and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant44.
Appears in 1 contract
Surrender. The LESSEE shall at the expiration or other termination of --------- this Lease yield up and peaceably surrender all portions of the Leased Premises to LESSOR and shall remove all LESSEE's goods and effects therefrom (a) Except including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the LESSEE, either inside or outside the Leased Premises). LESSEE shall deliver to the LESSOR the Leased Premises and all keys, locks thereto, and all fixtures, alterations and additions made to or upon the Leased Premises, except for moveable partitions and furnishings installed at the LESSEE's expense, in the same condition as otherwise provided they were at the commencement of the term, or as they were put in Section 2(c) during the Term hereof, reasonable wear and tear and damage by fire, other casualty or 14(b)eminenet domain and matters for which the LESSOR is responsible hereunder only excepted. All moveable partitions and furnishings, upon installed in the Leased Premises at the LESSEE's expense prior to or during the Term of the Lease may be removed by the LESSEE at the expiration or other termination of the Term, Tenant Lease. The LESSEE shall, without notice at its expense, promptly repair any and all damage to the Leased Premises resulting from Landlord, quit and surrender such removal. In the event of the LESSEE's failure to Landlord remove any of the LESSEE's property from the Leased Premises, vacantLESSOR is hereby authorized, broom-cleanupon fifteen (15) days' written notice to the LESSEE without liability to LESSEE for loss or damage thereto, and (subject at the sole risk of LESSEE, to the provisions of Article 8 hereof) in substantially the same condition remove and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession store any of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its LESSEE's sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under the terms of this Lease, 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenant.
Appears in 1 contract
Sources: Lease (Giga Information Group Inc)
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon The LESSEE shall at the expiration or other termination of this Lease remove all LESSEE's goods and effects from the Term, Tenant shallPremises (including, without notice from Landlordhereby limiting the generality of the foregoing, quit all signs and surrender to Landlord lettering affixed or painted by the LESSEE, either inside or outside the Premises). All additions, vacantalterations, broom-cleanfixtures, and (subject other improvements to the provisions Premises (except for trade fixtures of Article 8 hereof) LESSEE), whether made by LESSOR or LESSEE, shall become a part of and remain with the Premises throughout the lease term and thereafter, except that LESSEE shall upon expiration or termination of this Lease remove any alterations, additions or improvements made by LESSEE if such removal was required at the time of LESSEE's consent to their installation (if such consent was required hereunder). LESSEE shall surrender the Premises to LESSOR in substantially the same broom clean condition and repair as that the Premises were in on the Commencement Date, reasonable Date except for (i) ordinary wear and tear tear;(ii) damage by the elements, fire, or other casualty; (iii) condemnation; (iv) damage arising from any cause not required hereunder to be repaired, replaced, or paid for by LESSEE; and damage which Landlord is obligated (v) alterations as permitted by this Lease except as required to repair hereunder excepted, and shall surrender possession be removed as provided in the preceding sentence. In the event of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail LESSEE's failure to remove any of its personal LESSEE's property beyond from the Premises within ten (10) days after the expiration or earlier termination of this the Lease, such holding over shall not be deemed LESSOR is hereby authorized, without liability to be an extension LESSEE for loss or damage thereto, and at the sole risk of this LeaseLESSEE, and, in addition to remove and store any rights Landlord may have under of the terms of this Leaseproperty at LESSEE's expense, or to retain same under LESSOR's control or to sell at law public or in equity, Landlord shall be entitled to recover any and all damages (includingprivate sale, without limitationnotice, any out-of-pocket costs associated with any repairs, replacements, removal or all of the 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 holding overso removed, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) apply the net proceeds of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject sale to the parenthetical in the immediately preceding sentence regarding the scope payment of damagesany sum due hereunder, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited or to reasonable attorneys’ fees, arising out of destroy such holding over by Tenantproperty.
Appears in 1 contract
Surrender. The LESSEE shall at the expiration or other termination of this lease remove all of LESSEE’S goods and effects from the Leased Premises, (a) Except as otherwise provided in Section 2(c) including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or 14(bpainted by the LESSEE, either inside or outside the Leased Premises), but excluding anything constituting LESSOR’S Work as set forth on Exhibit B. LESSEE shall deliver to the LESSOR the Leased Premises and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the Leased Premises, in good condition, reasonable wear and tear, damage by fire or other casualty, eminent domain, default by LESSOR or by the negligent or willful acts or omissions of LESSOR, its officers, managers, employees, agents, contractors and invitees only excepted. In the event of the LESSEE’S failure to remove any of LESSEE’S property from the premises upon the expiration or other termination of the Termlease, Tenant shallLESSOR is hereby authorized, without liability to LESSEE for loss or damage thereto, and at the sole risk of LESSEE, to remove and store any of the property at LESSEE’S expense, or to retain same under LESSOR’S control or to sell at public or private sale, without notice from Landlord, quit any or all of the property not so removed and surrender to Landlord apply the Premises, vacant, broom-clean, and (subject net proceeds of such sale to the provisions payment of Article 8 hereof) any sum due hereunder, or to destroy such property. In the event that LESSEE continues to occupy, control or remain in substantially the same condition and repair as on the Commencement Date, reasonable wear and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession any part of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable wear and tear excepted. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of the Term of this Leaselease, including any extensions thereto, such holding over shall not be deemed to create any tenancy, but the LESSEE shall be an extension of this Leasea Tenant at Sufferance only and shall be liable for all loss, and, in addition to any rights Landlord may have under damage or expenses incurred by the LESSOR. All other terms of this Leaselease shall apply, except that use and occupancy payments shall be due in full monthly installments which shall be paid to LESSOR at the times and manner determined by the LESSOR, in advance and in an amount equal to the greater of one and a half times of either of the following: (i) base rent, additional rent and other sums due under the lease, including any extensions thereto, immediately prior to termination, or (ii) the reasonable fair market rent for the Leased Premises. It is expressly understood and agreed that such extended occupancy is a Tenancy at law Sufferance only, solely for the benefit and convenience of the LESSEE and is of greater rental value. If LESSEE continues to occupy, control or remain in equityall or any part of the Leased Premises beyond noon of the last day of any monthly rental period, Landlord said action shall constitute LESSEE’S occupancy for an entire additional month, and increased payment as provided by this section, shall be entitled to recover due and payable immediately in advance. LESSOR’S acceptance of 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 payments from LESSEE during such extended occupancy shall not foreseeable) suffered by Landlord alter LESSEE’S status as a result of Tenant’s holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantat Sufferance.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon the expiration or other termination of the Term, Tenant Sublessee shall, without notice from Landlordon the Sublease Expiration Date, quit surrender and surrender to Landlord deliver the Sublet Premises, vacantwith the improvements then located thereon and the appurtenances thereto, broom-cleaninto the possession and use of Sublessor, without fraud or delay and (subject to the provisions of Article 8 hereof) in substantially the same good order, condition and repair as on the Commencement Date, reasonable (ordinary wear and tear and damage which Landlord is obligated to repair hereunder by casualty not caused by Sublessee excepted), free and clear of all letting and occupancies, and shall surrender possession free and clear of all liens and encumbrances other than those existing on the date of this Sublease or resulting from the actions of Sublessor or Overlandlord without any payment or allowance by Sublessor on account of or for any improvements erected or maintained on the Sublet Premises at the time of the Leased Equipment to Landlord in substantially surrender, or for the same order and repair contents thereof or appurtenances thereto and, also, as on may otherwise be required by the Commencement Date, reasonable wear and tear exceptedOverlease. In addition, Tenant shall remove all of its personal property located at or in the Premises or elsewhere in the Building. Any damage caused to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property shall be repaired by Tenant at its sole cost event Sublessee does not timely and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 shall hold over and remain on the Premises or fail to remove any of its personal property beyond the expiration or earlier termination of this Lease, such holding over shall not be deemed to be an extension of this Lease, and, in addition to any rights Landlord may have under fully co▇▇▇▇ ▇▇▇▇ the terms of this Leaseparagraph, or and in addition to all other rights and remedies to which Sublessor is entitled as provided in this Sublease, at law or and/or in equity, Landlord shall be entitled to recover Sublessee will indemnify and hold Sublessor harmless from and against any and all damages liabilities, losses, damages, expenses, causes of action, claims, fines and judgments made by Overlandlord and/or arising (in whole or in part) under the Overlease (including, without limitation, any out-of-pocket costs associated with any repairsall sums due or c▇▇▇▇▇▇ ▇▇ be due under the Overlease). Also, replacementsSublessee shall remove, removal of property at Sublessee's cost, b▇ ▇▇▇▇ ▇▇te all such fixtures and improvements installed by Sublessee at the Sublet Premises if so required by the Overlease 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by TenantSublessor.
Appears in 1 contract
Surrender. (a) Except as otherwise provided in Section 2(c) or 14(b), upon Tenant agrees that on the expiration or other termination last day of the Term, or on the sooner termination of this Lease, Tenant shall, without notice from Landlord, quit and shall surrender the Premises to Landlord the Premises, vacant, broom-clean, and (subject to the provisions of Article 8 hereofa) in substantially the same good condition and repair as on the Commencement Date(damage by Acts of God, reasonable wear fire, condemnation and tear and damage which Landlord is obligated to repair hereunder excepted, and shall surrender possession of the Leased Equipment to Landlord in substantially the same order and repair as on the Commencement Date, reasonable normal wear and tear excepted), but with all interior walls painted or cleaned so they appear painted, any carpets cleaned, and with all floors cleaned and waxed, together with all alterations, additions and improvements which may have been made in or on the Premises; except that Tenant shall remove trade fixtures put in at the expense of Tenant, and any improvements as to which Landlord has, prior to the date of surrender, consented to or requested removal, and Tenant shall remove the Cell Improvements as provided in the following sentence; and (b) otherwise in accordance with Paragraph 32(f). In additionTenant shall, at Tenant's sole cost and expense, on or before the last day of the Term, or on the sooner termination of this Lease (i) remove the above-grade concrete enclosures of the Cell Area, provided, that to the extent the southerly wall of the Cell Area is contiguous with the exterior wall of the Building, such portion of such wall need not be removed, and dispose of all removed materials off of the Property, and (ii) empty and then fill in the below-ground pools located in the Cell Area and make the area which was the Cell Area a continuous slab consistent with the remainder of the Building. Concurrently with the delivery of this Lease, Char▇▇▇ ▇. ▇▇▇▇, ▇▇., ▇ principal shareholder of Tenant, will furnish Landlord with a Guaranty in substantially the form of the Guaranty attached hereto as Exhibit F whereby he will guarantee the payment and performance of the Cell Removal Obligations, on the terms and conditions, and subject to the limitations, set forth therein. Tenant shall repair all damage caused by Tenant's removal of improvements under this Paragraph 10 and otherwise restore the Premises in accordance with the foregoing at Tenant's sole cost and expense. On or before the expiration or sooner termination of this Lease, Tenant shall remove all of its Tenant's personal property located at or in from the Premises or elsewhere in the BuildingPremises. Any damage caused All property of Tenant not so removed, unless such non-removal is consented to the Premises or any other portions of the Building as a result of the removal of Tenant’s personal property by Landlord, shall be repaired by Tenant at its sole cost and expense. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term.
(b) 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 deemed abandoned by Tenant, if provided that in such event Tenant shall hold over and remain on liable to Landlord for all costs surrendered at the Premises end of the Term or fail to remove any of its personal property beyond the expiration or earlier sooner termination of this Lease, such holding over shall not be deemed to be an extension and in accordance with the provisions of this LeaseParagraph 10 and of Paragraph 32(f), and, Tenant hereby indemnifies Landlord against loss or liability resulting from delay by Tenant in addition to any rights Landlord may have under so surrendering the terms of this Lease, or at law or in equity, Landlord shall be entitled to recover any and all damages (Premises including, without limitation, any out-of-pocket costs associated with claims made by any repairs, replacements, removal succeeding tenant founded on such delay. Tenant's obligations under this Paragraph 10 shall survive a termination 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 holding over, and Tenant shall also be obligated to pay to Landlord a per diem amount based on an annual rate equal to two hundred percent (200%) of the Base Rent payable on the date immediately preceding such holdover for each day thereafter that Tenant remains in occupancy of the Premises. Subject to the parenthetical in the immediately preceding sentence regarding the scope of damages, Tenant shall indemnify and hold Landlord harmless from any liability, loss, costs and expenses, including, but not limited to reasonable attorneys’ fees, arising out of such holding over by Tenantthis Lease.
Appears in 1 contract