Holdover Damages definition

Holdover Damages is defined in subsection 23.4 of this Agreement.

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Holdover Damages is defined in subsection 23.4 of this Agreement. 25 The “Index” means the “all items” index figure for the New York Northeastern New Jersey average of the Consumer Price Index for all urban wage earners and clerical workers which uses a base period of 1982-84=100, published by the United States Department of Labor, so long as it continues to be published. If the Index is not published for a period of three consecutive months, or if its base period is changed, the term “Index” shall mean that index, as nearly equivalent in purpose, function and coverage as practicable to the original Index, which the Landlord shall have designated by notice to the Tenant.

Holdover Damages means the additional Basic Rental paid by Tenant to the landlords under the Existing Leases, to the extent such Basic Rental exceeds the Basic Rental in effect immediately prior to the holdover. Landlord shall reimburse Tenant for such Holdover Damages within ten business days after Landlord’s receipt of Tenant’s written request therefor along with reasonable documentation evidencing such Holdover Damages.

Examples of Holdover Damages in a sentence

Failure to leave premises by lease ending date shall result in loss of the Security Deposit and will result in Holdover Damages as prescribed by law which is double the rent amount.
Such payment of Tenant’s Holdover Damages up to Landlord’s Holdover Payment shall be Tenant’s sole and exclusive remedy for Landlord’s failure so to complete such work within such time.
Tenant shall use reasonable and diligent efforts to mitigate the Holdover Damages for which Landlord is liable to Tenant hereunder, including working in good faith with Landlord to explore reasonable opportunities to mitigate such Holdover Damages.
Landlord shall not be required to mitigate Holdover Damages except as may be required by then applicable Legal Requirements.
Any such reimbursement by Landlord of the Holdover Damages shall be paid by Landlord to Tenant on or before the date (the "Holdover Payment Date") which is thirty (30) days after the date Tenant delivers to Landlord written evidence of the amount of the Holdover Damages actually paid by ▇▇▇▇▇▇ during and attributable to the Holdover Damage Period so long as Tenant is not in default under this Lease beyond applicable notice and cure periods.
The amount (the "Maximum Landlord Delay Cost") for which Landlord shall be liable in connection with or arising out of any delays in delivery of the Premises to Tenant, including Landlord's payments for the aggregate of the Holdover Damages and Landlord Mitigation Costs, shall be a fixed amount of Three Hundred Fifty Thousand Dollars ($350,000.00).
Payment of the Holdover Damages shall be calculated for the period commencing on May 1, 2000 and ending on the date the Returned Space is actually surrendered to Sublessor in the condition required by the Sublease.
The maximum amount (the “Maximum Landlord Delay Cost”) for which Landlord shall be liable in connection with or arising out of any delays in delivery of the Premises to Tenant, including Landlord’s payments for the aggregate of the Holdover Damages and Landlord Mitigation Costs and Tenant’s Expedition Costs (but shall not include Tenant Mitigation Costs), shall in no event exceed Five Million ($5,000,000) Dollars.
The Holdover Damages include, but are not limited to, holdover rent and any damages payable by Sublessee to Midas or any other party.
The maximum amount (the "Maximum Landlord Delay Cost") for which Landlord shall be liable in connection with or arising out of any delays in delivery of the Premises to Tenant, including Landlord's payments for the aggregate of the Holdover Damages and Landlord Mitigation Costs and Tenant's Expedition Costs (but shall not include Tenant Mitigation Costs), shall in no event exceed Five Million ($5,000,000) Dollars.

More Definitions of Holdover Damages

Holdover Damages means (without duplication of any amounts payable by Tenant pursuant to Article 22 hereof) any and all actual holdover costs, penalties, rentals and damages incurred by a prospective tenant of all or any portion of the portion of the Premises with respect to which Tenant shall have held over beyond the foregoing one hundred twenty (120) day period under such tenant’s then existing lease for space at another building, to the extent that Landlord is obligated to pay such holdover costs, penalties, rentals and/or damages under a binding agreement entered into between Landlord and such prospective tenant (it being agreed that Landlord shall use reasonable efforts to mitigate the amount of any such costs, penalties, rentals and/or damages payable by Landlord, and (x) to the extent that such mitigation is required to be undertaken by Landlord pursuant to applicable Laws, Tenant shall be responsible for the incremental costs incurred by Landlord as a result of such mitigation, and (y) to the extent that such mitigation is not required to be undertaken by Landlord pursuant to applicable Laws, Landlord shall not be obligated to incur any incremental costs in connection with such mitigation unless Tenant agrees in writing to pay such incremental costs). At Tenant’s request made at any time during the last six (6) months of the Term, Landlord shall notify Tenant of any leasing of the Premises (or any portion thereof) for a term commencing following the expiration of the Term (or of Tenant’s right of possession hereunder) which may give rise to any indemnification obligations of Tenant pursuant to this Paragraph 13(A). Notwithstanding the foregoing, Landlord and Tenant acknowledge that the holdover rental amounts set forth in subsections (i) and (ii) of this Paragraph 13(A), and the indemnification obligations set forth in this Paragraph 13(A), have been specifically negotiated by Landlord and Tenant to be, and the same shall be, Landlord’s sole monetary remedy on account of Tenant’s holding over in or retaining possession of the Premises or any part thereof, and in no event shall Landlord be entitled to recover any other monetary damages or award, whether direct, indirect, special or consequential.