Common use of Holding Over by Tenant Clause in Contracts

Holding Over by Tenant. Should Tenant not purchase Landlord's right, title and interest in the Leased Property as provided in the Purchase Agreement, but nonetheless continue to hold the Leased Property after the termination of this Lease without Landlord's written consent, whether such termination occurs by lapse of time or otherwise, such holding over shall constitute and be construed as a tenancy from day to day only, at a daily Base Rent equal to: (i) the unpaid Purchase Price on the day in question, times (ii) the Holdover Rate (as defined below) for such day, divided by (iii) 360; subject, however, to all of the terms, provisions, covenants and agreements on the part of Tenant hereunder. No payments of money by Tenant to Landlord after the termination of this Lease shall reinstate, continue or extend the Term of this Lease and no extension of this Lease after the termination thereof shall be valid unless and until the same shall be reduced to writing and signed by both Landlord and Tenant; provided, however, following any breach by Landlord of its obligations to tender a deed and other documents on the Designated Sale Date as provided in the Purchase Agreement, Tenant may at its option continue its possession and use of the Leased Property pursuant to this Lease, as if the Term had been extended, for a period not to exceed 180 days after the Designated Sale Date or such longer time as may be proscribed by Applicable Law. As used herein, the "Holdover Rate" means: (1) for any day prior to the date on which Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), a rate equal to the Fed Funds Rate on that day plus one hundred basis points; (2) for any day on which or within ninety days after Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), the per annum Prime Rate in effect for such day; and (3) for any day after the ninety days described in the preceding clause, a rate which is three percent (3%) above the per annum Prime Rate.

Holding Over by Tenant. Should Tenant not purchase Landlord's right, title and interest in the Leased Property as provided in the Purchase Agreement, but nonetheless continue to hold the Leased Property after the termination of this Lease without Landlord's written consent, whether such termination occurs by lapse of time or otherwise, such holding over shall constitute and be construed as a tenancy from day to day only, at a daily Base Rent equal to: (i) the unpaid Purchase Price on the day in question, times (ii) the Holdover Rate (as defined below) for such day, divided by (iii) 360; subject, however, to all of the terms, provisions, covenants and agreements on the part of Tenant hereunder. No payments of money by Tenant to Landlord after the termination of this Lease shall reinstate, continue or extend the Term of this Lease and no extension of this Lease after the termination thereof shall be valid unless and until the same shall be reduced to writing and signed by both Landlord and Tenant; provided, however, following any breach by Landlord of its obligations to tender a deed and other documents on the Designated Sale Date as provided in the Purchase Agreement, Tenant may at its option continue its possession and use of the Leased Property pursuant to this Lease, as if the Term had been extended, for a period not to exceed 180 days after the Designated Sale Date or such longer time as may be proscribed by Applicable Law. As used herein, the "Holdover Rate" means: (1) for any day prior to the date on which Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), a rate equal to the Fed Funds Rate on that day plus one hundred basis points; (2) for any day on which or within ninety days after Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), the per annum Prime Rate in effect for such day; and (3) for any day after the ninety days described in the preceding clause, a rate which is three percent (3%) above the per annum Prime Rate.

Holding Over by Tenant. Should Tenant, any assignee, sublessee or licensee of Tenant not purchase Landlord's rightor any party claiming by, title and interest through or under any of them hold over in all or any portion of the Leased Property as provided in the Purchase Agreement, but nonetheless continue to hold the Leased Property Premises after the termination expiration of this Lease without Landlord's written consentthe Term, whether then (unless otherwise agreed by Landlord and Tenant in writing) such termination occurs by lapse of time or otherwise, such holding over holdover shall constitute and be construed as a tenancy from day to day month-to-month only, at but otherwise upon the same terms and conditions as during the Term, provided that Tenant shall pay as a daily holdover charge for each month of the holdover tenancy (on a per month basis without reduction for partial months during the holdover) an amount equal to 150% of the Base Rent equal to: (iincreased to 200% after the first thirty (30) days) that Tenant was obligated to pay for the unpaid Purchase Price on month immediately preceding the day in question, times (ii) the Holdover Rate (as defined below) for such day, divided by (iii) 360; subject, however, to all end of the termsTerm, provisions, covenants and agreements on the part of Tenant hereunderplus all applicable additional rent. No payments of money holdover by Tenant to Landlord or payment by Tenant after the termination of this Lease shall reinstate, continue or be construed to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. If Landlord is unable to deliver possession of the Premises to a new tenant or to perform improvements for a new tenant as a result of Tenant’s holdover, Tenant shall be liable for all costs, damages, claims, liabilities, expenses, losses, and penalties resulting therefrom (and Tenant hereby agrees to indemnify, defend and hold harmless Landlord from and against such all costs, damages, claims, liabilities, expenses, losses, and penalties). This Section 24 shall survive the termination or earlier termination of this Lease and no extension of this Lease after the termination thereof shall be valid unless and until the same shall be reduced to writing and signed by both Landlord and Tenant; provided, however, following any breach by Landlord of its obligations to tender a deed and other documents on the Designated Sale Date as provided in the Purchase Agreement, Tenant may at its option continue its possession and use of the Leased Property pursuant to this Lease, as if the Term had been extended, for a period not to exceed 180 days after the Designated Sale Date or such longer time as may be proscribed by Applicable Law. As used herein, the "Holdover Rate" means: (1) for any day prior to the date on which Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), a rate equal to the Fed Funds Rate on that day plus one hundred basis points; (2) for any day on which or within ninety days after Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), the per annum Prime Rate in effect for such day; and (3) for any day after the ninety days described in the preceding clause, a rate which is three percent (3%) above the per annum Prime Rate.

Holding Over by Tenant. Should If Tenant not purchase Landlord's right, title and interest in the Leased Property as provided in the Purchase Agreement, but nonetheless continue continues to hold the Leased Property Premises after the Expiration Date or earlier termination of this Lease without Lease, Tenant will pay to Landlord's written consent, whether as Base Rental for the period of such holding over, a daily Base Rental amount equal to the number determined by multiplying the Base Rental for the final month of the Term by one hundred fifty percent (150%) and then dividing that result by thirty (30). Such amount will be due and payable in advance on the first day of each calendar month during any such holdover period. During such time as Tenant continues to hold the Premises after the expiration or termination occurs by lapse of time or otherwisehereof, such holding over shall constitute and will be construed as a tenancy from day to day onlyat sufferance, at a daily Base Rent equal to: (i) the unpaid Purchase Price on the day in question, times (ii) the Holdover Rate (as defined below) for such day, divided by (iii) 360; subject, however, subject to all of the terms, provisions, covenants and agreements on of this Lease except as modified by this Section 3.3 with respect to the part length of Tenant hereunderthe Term and the amount of the Base Rental. No payments of money by Tenant to Landlord after the expiration or termination of this Lease shall or after the giving of any notice of termination by Landlord to Tenant will reinstate, continue or extend the Term or reduce the liability of this Lease Tenant to Landlord for damages incurred because of such holding over by Tenant or affect any termination notice given by Landlord to Tenant, and no extension of this Lease after the termination thereof shall Term will be valid unless and until the same shall will be reduced to writing and signed by both Landlord and Tenant; provided, however, following any breach by Landlord of its obligations . In addition to tender a deed and other documents on the Designated Sale Date as provided in the Purchase Agreement, Tenant may at its option continue its possession and use payment of the Leased Property pursuant holdover rent provided above, if Landlord is unable to this Leasedeliver possession of the Premises to a new tenant, or to perform improvements for a new tenant, as if a result of Tenant’s holdover and Tenant fails to vacate the Term had been extended, for a period not to exceed 180 days after the Designated Sale Date or such longer time as may be proscribed by Applicable Law. As used herein, the "Holdover Rate" means: Premises within five (15) for any day prior to the date on which Landlord tenders a deed and other documents as required by the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement), a rate equal to the Fed Funds Rate on that day plus one hundred basis points; (2) for any day on which or within ninety business days after Landlord tenders a deed and notifies Tenant in writing of Landlord’s inability to deliver possession, or perform improvements, then notwithstanding any other documents as required by provision of this Lease to the Purchase Agreement (or is excused from its obligation to tender by Tenant's breach or anticipatory repudiation of the Purchase Agreement)contrary, the per annum Prime Rate in effect for such day; and (3) for any day after the ninety days described in the preceding clauseTENANT SHALL BE LIABLE TO LANDLORD FOR, a rate which is three percent (3%) above the per annum Prime RateAND SHALL PROTECT LANDLORD FROM AND INDEMNIFY AND DEFEND LANDLORD AGAINST, ALL LOSSES AND DAMAGES, INCLUDING ANY CLAIMS MADE BY ANY SUCCEEDING TENANT RESULTING FROM SUCH FAILURE TO VACATE, AND ANY CONSEQUENTIAL DAMAGES THAT LANDLORD SUFFERS FROM THE HOLDOVER.