Term and Holding Over Clause Samples
The 'Term and holding over' clause defines the duration of the agreement and addresses what happens if the tenant remains in the property after the initial term expires. Typically, it specifies the start and end dates of the lease and outlines the conditions under which the tenant may continue occupying the premises, such as converting to a month-to-month tenancy or incurring increased rent. This clause ensures both parties understand their rights and obligations regarding the lease's timeline and provides a clear framework for handling situations where the tenant does not vacate as scheduled.
Term and Holding Over. 2.1 TERM The Landlord lets the Premises to the Tenant for the Term. COMMERCIAL TENANCY AGREEMENT CONDITIONS
Term and Holding Over. To have and to hold the Premises, unless such term shall be sooner terminated as hereinafter provided, for and during the term of (5) years (the "Term"), commencing on , 2021 (the "Commencement Date") and ending on , unless terminated earlier pursuant to the terms hereof. If the Tenant shall continue to occupy the Premises after the expiration of this Lease without the consent of the Landlord and without any further written agreement, the Tenant shall be deemed to be a monthly tenant at a monthly rental of one hundred and fifty per cent (150%) of the rent payable for the last month of the Term and otherwise on the terms and conditions herein set forth, except as to the length of tenancy.
Term and Holding Over. 2.1 The Leased Premises are leased for a term of five years to commence at 12:01 a.m. on the third day after a Certificate of Completion is issued by Palm Beach Gardens for the Leased Premises, but not later than May 1, 1999 and shall expire at 11:59 p.m. on the day immediately preceding the fifth anniversary of the Commencement Date (hereafter called the "Term"), unless the Term shall sooner expire as hereafter provided.
2.2 If Landlord fails to deliver possession of the Leased Premises at the aforesaid commencement of the Term because (i) Landlord's Work (as defined in section 2.4 below) shall not have been substantially completed or (ii) of any other cause or reason beyond the reasonable control of Landlord, then:
(a) The Term shall not commence on the date set forth in section 2.1 above but instead shall commence at 12:01 a.m. on such date as is fixed by Landlord in a notice to Tenant as the earliest date as of which Landlord is not thus prevented from delivering possession of the Leased Premises substantially complete and ready for occupancy by Tenant (provided, however, that Landlord may similarly at any time prior to such date, by notice to Tenant, change the date thus fixed for the commencement of the Term in a prior notice),
(b) The Term shall expire at 11:59 p.m. on the day which immediately precedes the fifth anniversary of the delayed commencement date described in clause (a) above, unless the Term shall sooner expire as hereafter provided,
(c) Neither the validity of this Lease nor the obligations of Tenant under this Lease shall be affected by such failure to deliver possession, except that the Term shall begin and end as provided in clauses (a) and (b) above, and
(d) Tenant shall have no claim against Landlord because of Landlord's failure due to such circumstances to deliver possession of the Leased Premises on the date originally or subsequently fixed therefor.
2.3 The dates upon which the Term shall commence and expire for the purposes of this Lease as provided in section 2.1 (as modified by section 2.2) above are herein called the "Commencement Date" and the "Expiration Date", respectively, which dates shall be unaffected by the time as of which Tenant's physical occupancy of the Leased Premises actually begins and ends.
2.4 Prior to the Commencement Date, Landlord shall perform the work and make the installations in the Leased Premises substantially as set forth in Exhibit C attached hereto (such work and installations being herein call...
Term and Holding Over