Common use of Vacation and Surrender Clause in Contracts

Vacation and Surrender. Tenant hereby agrees to vacate the Original Premises and surrender and deliver exclusive possession of the Original Premises to Landlord on or before the Substitute Premises Commencement Date in accordance with the provisions of the Lease and thereafter, Tenant shall have no further obligations with respect to the Original Premises except with respect to the period of Tenant’s tenancy prior to the Substitute Premises Commencement Date. In the event that Tenant fails to vacate the Original Premises and surrender and deliver exclusive possession of the Original Premises to Landlord on or before the Substitute Premises Commencement Date in accordance with the provisions of the Lease, then (subject to the terms of Section 3.2, below) Tenant shall be deemed to be in holdover of the Original Premises and shall be subject to the terms of Article 16 of the Lease.