Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 2 contracts
Samples: Office Lease Agreement (IMARA Inc.), Office Lease Agreement (IMARA Inc.)
Holding Over. 22.1 It is hereby agreed that in the event of Tenant acknowledges that it is extremely important that Landlord have substantial advance notice holding over after the termination of this Lease, by lapse of time or otherwise, thereafter the date on which Tenant will vacate tenancy shall be from month to month in the Premisesabsence of a written agreement to the contrary, and that if Tenant fails shall pay to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value Landlord a monthly occupancy charge equal to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) for the first sixty (60) days of holdover, one hundred twenty-five percent (125%) of the fair market rent monthly Basic Rental payable hereunder for the entire Premiseslast lease year, or and (ii) for any holdover beyond said sixty (60) days, one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and monthly Basic Rental payable hereunder for the last lease year (2plus all other charges payable by Tenant under this Lease) for each month such occupancy charges to be payable from the expiration or termination of holdover thereafter, this Lease until the greater of (x) two hundred percent (200%) end of the fair market rent calendar month in which the Premises are delivered to Landlord in the condition required herein. If Landlord shall enter into a new lease or amend an existing lease for premises in the entire Premises, Building for all or (y) two hundred percent (200%) a portion of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on Premises at the first day end of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision Term of this Lease, Landlord’s acceptance Landlord shall so notify Tenant and if Tenant fails to vacate and deliver all or such portion of the Premises to Landlord within sixty (60) days after receipt of such rent shall not notice (but in any manner adversely affect Landlord’s other rights and remediesno event prior to the expiration or earlier termination of this Lease), including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against be responsible for any and all damages which actually and reasonably incurred by Landlord may suffer on account as a result of Tenant’s hold-over in failure to so vacate and deliver the Premises after or such portion thereof (including the expiration loss of such lease or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionamendment).
Appears in 2 contracts
Samples: Memorandum of Lease (Rocket Companies, Inc.), Memorandum of Lease (Rocket Companies, Inc.)
Holding Over. 22.1 Any holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice in the possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at thereof, after the expiration or earlier termination of the Lease Term of this Lease, with or upon without the consent of Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value shall require Tenant to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued pay (a) during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first six (1st) and second (2nd6) months of such holdoverholdover period, the greater of (i) an amount equal to one hundred twenty-five percent (125%) of the fair market rent Base Rent and Additional Rent herein specified for the entire Premiseslast month of the Term (prorated on a monthly basis), or and (iib) for any portion of such holdover period after such initial 6-month period, an amount equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and (2) Additional Rent herein specified for each the last month of holdover thereafter, the greater of Term (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant prorated on a monthly basis basis). If Tenant holds over with Landlord’s consent, such occupancy shall be deemed a month-to-month tenancy and such tenancy shall otherwise be on the terms and conditions herein specified in this Lease as far as applicable. Notwithstanding the foregoing provisions or the acceptance by Landlord of any payment by Tenant, any holding over without Landlord’s consent beyond thirty (30) days after the expiration of the Term of this Lease shall constitute an Event of Default by Tenant under this Lease and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of entitle Landlord to pursue all remedies provided in this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damagesor otherwise, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any be liable to Landlord for all direct damages and all damages which Consequential Damages (as defined below) incurred and/or suffered by Landlord may suffer on account of resulting from Tenant’s hold-holding over in the Premises after the expiration or prior termination of the Lease Termwithout Landlord’s consent; provided, however, that consequential damages following Landlord’s execution of a third-party lease which affects the Premises, Landlord shall deliver written notice (the “New Lease Notice”) of such third-party lease to Tenant and the terms of the foregoing regarding liability for and recovery of any Consequential Damages shall not be available only if effective until the holdover persists for more than date which is thirty (30) days. Any days following the later of (i) the date Landlord delivers such New Lease Notice to Tenant, and (ii) the date such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessioncommences.
Appears in 2 contracts
Samples: Lease Agreement (Fusion-Io, Inc.), Lease Agreement (Fusion-Io, Inc.)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at ------------ after the expiration or earlier termination of this Lease with the Lease Term or upon express written consent of Landlord (which consent may be withheld in Landlord’s re's sole discretion), Tenant's occupancy shall be a month-entry following an Event to-month tenancy at a rent equal to the greater of Default, then it will be conclusively presumed that (i) for the value to Tenant first thirty (30) days of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during any such holdover period. Therefore, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant (agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or anyone claiming through any other rights or under Tenant) does options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord's acceptance of rent after such holding over with Landlord's written consent shall not immediately surrender result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises or any portion thereof upon after the expiration or earlier termination of the this Lease Term or upon without Landlord’s re-entry following an Event of Default's consent as required above, then the rent payable by Tenant hereunder Tenant's continued possession shall be increased on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent rental (as reasonably determined by Landlord) for the entire Premises, Premises or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent Monthly Rent and Additional Rent payable under this Lease for the entire Premises, or (y) two hundred percent (200%) of last full month prior to the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day date of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessiontermination.
Appears in 2 contracts
Samples: Office Lease (Digital Island Inc), Office Lease (Digital Island Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the Premises after expiration or earlier termination of this Lease with Landlord’s express consent, Tenant’s occupancy shall be a month to month tenancy at a rent agreed upon by Landlord and Tenant but, in no event less than the Monthly Basic Rent payable under this Lease during the last full month before the date of expiration or earlier termination. The month to month tenancy shall be on which the terms and conditions of this Lease except as provided in the preceding sentence and the Lease clauses concerning extension rights. If Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or hereof without the express written consent of Landlord, Tenant shall become a tenant at sufferance only, at a rental rate equal to one hundred fifty percent (150%) of the Monthly Basic Rent which would be applicable to the Premises upon Landlord’s re-entry following an Event the date of Default, then it will be conclusively presumed that expiration of the value to Tenant of remaining in possessionTerm (prorated on a daily basis), and otherwise subject to the loss that will be suffered terms, covenants and conditions herein specified, so far as applicable including, without limitation, the obligation to pay Direct Operating Expenses and Common Operating Expenses as provided in Paragraphs 5 and 6.2. Acceptance by Landlord as a result thereof, far exceed the Base Rent and additional of rent that would have been payable had the Lease Term continued during after such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination shall not constitute a consent to a holdover hereunder or result in a renewal. The foregoing provisions of the Lease Term or upon this Paragraph 11 are in addition to and do not affect Landlord’s right of re-entry following an Event or any rights of DefaultLandlord hereunder or as otherwise provided by law. If Tenant fails to surrender the Premises, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) indemnify and second (2nd) months hold Landlord harmless from all loss or liability arising out of such holdoverfailure, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premisesincluding without limitation, any claim made by any succeeding tenant founded on or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentresulting from such failure to surrender. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other No provision of this Paragraph 11 shall be construed as implied consent by Landlord to any holding over by Tenant. Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon expiration or other termination of this Lease, Landlord’s acceptance . The provisions of such rent this Paragraph 11 shall not in be considered to limit or constitute a waiver of any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which or remedies of Landlord may suffer on account of Tenant’s hold-over provided in the Premises after the expiration this Lease or prior termination of the Lease Termat law; provided, however, that Landlord shall not be entitled to consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of except as expressly provided in this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionParagraph 11.
Appears in 2 contracts
Samples: Lease (Okta, Inc.), Agreement of Lease (Okta, Inc.)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term hereof, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Base Rent shall be payable at a monthly rate equal to (i) for the loss that will be suffered by Landlord as a result thereoffirst two (2) months of the holdover, far exceed one hundred fifty percent (150%) of the Base Rent and additional rent that would have been payable had applicable during the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination last rental period of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) under this Lease and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) for the remainder of the then fully escalated Base Rent and additional rentholdover period, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for Base Rent applicable during the entire Premises, or (y) two hundred percent (200%) last rental period of the then fully escalated Base Rent and additional rentLease Term under this Lease. Such rent month-to-month tenancy shall be computed by subject to every other term, covenant and agreement contained herein. Landlord and paid by hereby expressly reserves the right to require Tenant on a monthly basis and shall be payable on the first day to surrender possession of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any to Landlord as provided in this Lease upon the expiration or other provision termination of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord's consent, such holding over may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. If Landlord provides Tenant with at least thirty (30) days prior written notice that Landlord has a signed proposal or lease from a succeeding tenant to lease the Premises, and if Tenant fails to surrender the Premises upon the later of (i) the date of expiration of such thirty (30) day period, or (ii) the date of expiration or termination of the Lease or of Tenant’s right this Lease, Tenant agrees to possessionprotect, indemnify, defend and hold Landlord harmless from all costs (including reasonable attorneys' fees), losses, expenses and liabilities resulting from such failure, including without limitation, claims made by any succeeding tenant and/or real estate brokers in connection with such failure to surrender, and any lost profits to Landlord resulting therefrom.
Appears in 2 contracts
Samples: Nondisturbance and Attornment Agreement (Websense Inc), Nondisturbance and Attornment Agreement (Websense Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the Upon expiration or earlier termination of this Lease, Tenant shall promptly vacate the Lease Term or upon Landlord’s re-entry following an Event of DefaultPremises, then it will be conclusively presumed that leaving the value to Tenant of remaining Premises in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover periodcondition required hereunder. ThereforeUnless otherwise expressly agreed in writing, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises remains in possession of all or any portion thereof upon of the Premises after expiration or earlier termination of the Lease Term or upon (as this Lease may be extended pursuant to Section 2.2 above) with Landlord’s reconsent, such possession by Tenant shall be deemed to be a month-entry to-month tenancy of the space then occupied by Tenant (the “Occupied Space”) terminable by either party, effective on the first day of the month following thirty (30) days’ advance written notice. All provisions of this Lease, except those pertaining to Term and Base Rent, shall apply to the month-to-month tenancy of the Occupied Space. If Tenant holds over with the Landlord’s consent, during any holdover term, Tenant shall pay Base Rent for the Occupied Space in an Event of Defaultamount equal to the then applicable fair market rental value for the Occupied Space, but in no event shall Tenant pay at a rate less than the Base Rent payable immediately prior to such holdover term. If Tenant holds over without Landlord’s consent, then during any holdover term, Tenant will pay a proportionate amount of the rent payable by Tenant hereunder shall be increased Base Rent for the Occupied Space at the rate applicable to equal the Occupied Space in an amount (1a) for each of the first sixty (1st60) and second (2nd) months days of such holdover, the greater of (i) equal to one hundred twenty-twenty five percent (125%) of the fair market rent Base Rent for the entire PremisesOccupied Space for the last full calendar month during the regular or extended Lease Term and (b) after the first sixty (60) days of holdover, equal to one hundred fifty percent (150%) of Base Rent for the Occupied Space for the last full calendar month during the regular or extended Lease Term, plus (iic) one hundred twenty-five percent (125100%) of Tenant’s Pro Rata Share of Additional Rent allocable to the then fully escalated Base Rent and additional rentOccupied Space, and plus (2d) any other amounts due under the Lease, but except as specifically otherwise provided in this Article 21, Tenant shall not be liable for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, any consequential damages arising from or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentrelating to Landlord’s lost business opportunities or otherwise. Such rent shall be computed Acceptance by Landlord and paid by Tenant on of Rents and/or other amounts due during any period of Tenant’s holdover shall not result in a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision renewal of this Lease, Landlord’s acceptance . The provisions of such rent shall this Article 21 are in addition to and do not in any manner adversely affect Landlord’s right of re-entry or any other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which of Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration hereunder or prior termination of the Lease Termas otherwise provided by law; provided, however, that consequential damages Tenant’s liability for rental payments in connection with Tenant’s holdover of the Premises without consent is limited as stated in this Article 21. Landlord shall be available only if give Tenant written notice within ten (10) days after Landlord has a new tenant (“New Tenant”) for the holdover persists for more than thirty Premises or any portion thereof (30) days“New Tenant Space”). Any If Tenant holds over in the New Tenant Space without the consent of Landlord, and such holdover shall be deemed causes Landlord to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension default under, or renewal is otherwise the direct cause of damages suffered by Landlord under the terms of the Lease Termlease between Landlord and New Tenant with respect to the New Tenant Space, then Tenant shall indemnify Landlord for Landlord’s actual out-of-pocket losses, costs, damages, and nothing contained herein shall be construed to constitute Landlordexpenses incurred by Landlord in connection with the New Tenant’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination lease of the Lease or of Tenant’s right to possessionNew Tenant Space.
Appears in 2 contracts
Samples: Lease (Fisher Communications Inc), Purchase and Sale Agreement (Fisher Communications Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration or earlier termination of this Lease with the Lease Term or express written consent of Landlord, Tenant’s occupancy shall be a month-to-month tenancy at a rent agreed upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereofand Tenant in writing; provided, far exceed however, if Landlord has consented to the Base Rent holdover in writing, but Landlord and additional Tenant did not agree in writing on the rent that would have been payable had during the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon monthly rent during the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder holdover period shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rent for Monthly Rent and Additional Rent payable under this Lease during the entire Premises, last full month prior to the date of the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord’s acceptance of rent after such holding over with Landlord’s written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s written consent, Tenant’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to (i) for the first thirty (30) days of such holdover, one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Monthly Rent and additional rent, one hundred percent (100%) of the Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination and (2ii) for each month the holdover period from and after the end of holdover thereaftersuch thirty (30) day period, the greater of (x) such percentage applied to Monthly Rent shall increase to two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession).
Appears in 2 contracts
Samples: Office Lease (Twitter, Inc.), Office Lease (Twitter, Inc.)
Holding Over. 22.1 Provided Tenant acknowledges that it is extremely important that gives Landlord have substantial not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the date on which Tenant will vacate Premises after the Premisesexpiration of the Term without any modification of this Lease, and that if Tenant except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to surrender the Premises or any portion thereof at the expiration or earlier termination elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the Lease Term or upon Landlord’s re-entry following an Event terms and conditions of Defaultthis Lease, then it will be conclusively presumed except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the shall pay Base Rent and additional rent that would have been payable had in the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination amount of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent ten (125110%) of the fair market rent Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the entire expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) Tenant shall pay rent in an amount equal to two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right effect immediately prior to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists plus all other Rent provided for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Termin this Lease, and nothing contained herein otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to constitute Landlord’s consent to the possession of the Premises by Tenant after the expiration of the Term or any holdover or to give Tenant any right with respect thereto. The provisions termination of this Section 22.1 expressly Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of the this Lease by lapse of time or of Tenant’s right to possessionotherwise.
Appears in 2 contracts
Samples: Office Lease (SecureWorks Corp), Office Lease (SecureWorks Holding Corp)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice Except in the case of the date on which Tenant will vacate the Premisesa Permitted Holdover (defined below), and that if Tenant fails to surrender all or any part of the Premises at the termination of this Lease, occupancy of the Premises after termination shall be that of a tenancy at sufferance. Tenant’s occupancy of the Premises during such holding over shall be subject to all the terms and provisions of this Lease, and Tenant shall pay an amount (on a per month basis without reduction for partial months during the holdover) equal to 125% of the Base Rent due for the period immediately preceding the holdover, plus any other Rent payable by Tenant under the Lease, as amended hereby. No holdover by Tenant or payment by Tenant after the termination of this Lease shall 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 and Tenant fails to vacate the Premises within fifteen (15) days after notice from Landlord, Tenant shall be liable for all actual damages that Landlord suffers from the holdover. Notwithstanding anything to the contrary set forth in this Section 21, so long as Tenant is not in default beyond any portion thereof applicable notice and cure period under this Lease, Tenant shall have the right to holdover (the “Permitted Holdover”) in the entire Premises only, for twelve (12) consecutive months, commencing as of the expiration of the then current Term (the “Permitted Holdover Period”), subject to the remaining terms of this Section, if Tenant delivers to Landlord prior written notice of Tenant’s intent to so occupy the Premises on or before the date that is twelve (12) full calendar months prior to the expiration of the then current Term. If Tenant engages in a Permitted Holdover, then during the Permitted Holdover Period, Tenant shall occupy the Premises in its as-is condition and configuration subject to all the terms and conditions of this Lease, provided that solely during the Permitted Holdover Period, Tenant shall pay an amount equal to 110% of the Rent in effect under this Lease during the month immediately preceding the Permitted Holdover Period for the entire twelve (12) month Permitted Holdover Period. If Tenant engages in a Permitted Holdover, then if Tenant fails to vacate and surrender the Premises on or prior to expiration or earlier termination of the Permitted Holdover Period, Tenant shall be deemed in holdover of the Premises and such holdover shall be subject to the provisions of this Section. Nothing herein shall grant Tenant the right to hold over or otherwise occupy the Premises at any time following the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionPermitted Holdover Period.”
Appears in 2 contracts
Samples: Lease, Lease (Autodesk Inc)
Holding Over. 22.1 40.1 Tenant acknowledges that it is extremely important that Landlord will have substantial advance notice no right to remain in possession of all or part of the date on which Demised Praises after the expiration of the term. If Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises remains in possession of all or any portion thereof at part of the Demised Premises after the expiration or earlier termination of the Lease Term or upon Lease, without the express consent of Landlord’s re-entry following an Event of Default, then it : (a) such tenancy will be conclusively presumed that the value deemed to Tenant be a periodic tenancy from month-to-month only; (b) such tenancy will not constitute a renewal or extension of remaining in possession, this Lease for any further term; and the loss that will (c) such tenancy may be suffered terminated by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent thirty (125%30) of the fair market rent for the entire Premisesdays prior written notice, or (ii) one hundred twenty-five percent (the earliest date permitted by how. In such event, monthly rent will be increased to an amount equal to 125%) % during months 1 and 2; 150% during months 3 through 5; 175% during month 6 and 200% thereafter, of the then fully escalated Base Rent and additional rentmonthly rent payable during the last month of the term, and (2) for each month of holdover thereafter, any other sums due under this Lease will be payable in the greater of (x) two hundred percent (200%) of amount and at the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional renttimes specified in this Lease. Such rent shall month-to-month tenancy will be computed by Landlord subject to every other term, condition, and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of covenant contained in this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination shall not be construed to relieve Tenant from liability to Landlord for damages resulting from any such holding over, or preclude Landlord from implementing summary dispossess proceedings. Tenant further acknowledges that its failure to perform any restoration required of it under this Lease shall be deemed the same as its remaining in possession of the Demised Premises after the explosion of the term, subjecting it to holdover rent in accordance with this Article 40. Notwithstanding the foregoing, Landlord agrees that Tenant may holdover for thirty (30) days after the Expiration Date of this Lease without being liable to Landlord for damages resulting from holdover or subject to summary dispossess proceeding provided Tenant pays Landlord the holdover rent of Tenant’s right to possession.125% as set forth above. 44 49
Appears in 2 contracts
Samples: Lease Agreement (Paradyne Corp), Lease Agreement (Globespan Semiconductor Inc)
Holding Over. 22.1 Any holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice after the expiration of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination term of the this Lease Term or upon Landlord’s re-entry following an Event of Default, then it will shall be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord treated as a result thereof, far exceed the Base Rent tenancy at sufferance and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased on the terms and conditions as set forth in this Lease, as far as applicable except that Tenant shall pay as a use and occupancy charge an amount equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) 150% of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Annual Fixed Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant Additional Rent calculated (on a monthly basis and shall be daily basis) at the highest rate payable on under the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision terms of this Lease, Landlordand (y) the fair market rental value of the Premises, for the period measured from the day on which Tenant’s acceptance hold-over commences through and until the earlier of (a) the thirtieth (30th) day thereafter and (b) the day on which Tenant vacates the Premises; and (ii) if such rent shall not hold-over continues beyond such thirty (30)-day period, 200% of the greater of (x) the Annual Fixed Rent and Additional Rent, calculated in any the same manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damagesas provided in clause (i) above, and (y) the fair market rental value of the Premises, for the period measured from the thirty first (31st) day after such hold-over commences through and until the day on which Tenant vacates the Premises. In addition, Tenant shall save Landlord, its agents and employees, employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees, employees from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the term of this Lease. Nothing in the foregoing nor any other term or provision of this Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension permit Tenant to retain possession of the Premises or renewal hold over in the Premises after the expiration or earlier termination of the Lease Term, and nothing contained herein . All property which remains in the Building or the Premises after the expiration or termination of this Lease shall be construed conclusively deemed to constitute Landlord’s consent to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any holdover or to give Tenant any right with respect thereto. The provisions part thereof shall be sold, then Landlord may receive the proceeds of this Section 22.1 expressly survive termination such sale and apply the same, at its option against the expenses of the sale, the cost of moving and storage, any arrears of rent or other charges payable hereunder by Tenant to Landlord and any damages to which Landlord may be entitled under this Lease or of Tenant’s right to possessionand at law and in equity.
Appears in 2 contracts
Samples: Agreement (Carbon Black, Inc.), Agreement (Carbon Black, Inc.)
Holding Over. 22.1 No holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice past the Expiration Date shall operate to extend the Term. If Tenant remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the after expiration or earlier termination of this Lease: (i) Tenant shall become a tenant at sufferance upon all the Lease Term or upon Landlord’s re-entry following an Event applicable terms and conditions of Defaultthis Lease, then it will be conclusively presumed except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (ia) one hundred twenty-five percent (125%) of the fair market rent Base Rent in effect during the last month of the Term for the entire Premisesfirst month of holdover, or (iib) one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rentin effect for the last month of the Term for the second (2nd) through sixth (6th) months of holdover, and (2) for each month of holdover thereafter, the greater of (xc) two hundred percent (200%) of the fair market Base Rent in effect during the last month of the Term thereafter; Tenant shall indemnify, defend, protect and hold harmless Landlord, the other Indemnitees, and any tenant to whom Landlord has leased all or part of the Premises from Claims (including loss of rent for the entire Premisesloss to Landlord or additional rent payable by such tenant and reasonable attorneys’ fees) suffered or incurred by Landlord, such other Indemnitees, or such tenant resulting from Tenant’s failure timely to vacate the Premises; and (yiii) two hundred percent (200%) such holding over by Tenant shall constitute an Event of Default. Landlord’s acceptance of Rent if and after Tenant holds over shall not convert Tenant’s tenancy at sufferance to any other form of tenancy or result in a renewal or extension of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision Term of this Lease, Landlordunless otherwise specified by written notice from Landlord to Tenant. Within ten (10) business days after Tenant’s acceptance request, Landlord shall provide Tenant a written notice setting forth any leases or other occupancy agreements for the Premises or any portion thereof entered into by Landlord as of the date of such rent shall not in any manner adversely affect Landlord’s other rights request and remedies, including Landlord’s right to evict Tenant which will commence after the expiration of the term of this Lease and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages for which Landlord may suffer on account of Tenant’s hold-over in Claims if Tenant fails to timely vacate the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionPremises.
Appears in 2 contracts
Samples: Office Lease (iRhythm Technologies, Inc.), Office Lease (iRhythm Technologies, Inc.)
Holding Over. 22.1 Should Tenant acknowledges that it is extremely important that Landlord have substantial advance notice or any of its successors in interest continue to hold the Premises after termination of this Lease, whether such termination occurs by lapse of time or otherwise, with Landlord's acquiescence, and without any distinct agreement between the parties, then for the first six (6) month period of such holding over by Tenant, such holding over shall constitute and be construed as a tenancy at will at a monthly rental equal to 125% of the date on which Tenant will vacate the Premises, monthly rental (including Base Monthly Rental and that if Tenant fails to surrender the Premises or any portion thereof adjusted and additional rent) provided herein at the expiration or earlier termination time of such termination. At all times following the Lease Term or upon Landlord’s re-entry following an Event first six (6) month period of Defaultsuch holding over by Tenant, such holding over shall then it will constitute and be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord construed as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased month to month tenancy at will at a monthly rental equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) to one hundred twenty-five fifty percent (125150%) of the fair market rent for the entire Premises, or monthly rental (ii) one hundred twenty-five percent (125%) of the then fully escalated including Base Rent Monthly Rental and any adjusted and additional rent, ). At all times during the period of such holding over by Tenant (but only during such period of such holding over by Tenant and (2) for each month of holdover thereafter, not prior to the greater of (x) two hundred percent (200%) expiration of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision normal term of this Lease), Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the be entitled to terminate this Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than upon thirty (30) daysdays prior written notice to Landlord. Any Similarly, at all times following the first six (6) month period of such holdover holding over by Tenant, Landlord shall be deemed entitled to terminate this Lease upon sixty (60) days prior written notice to Tenant and at all times following the expiration of such sixty (60) day notice period from Landlord to Tenant, Tenant shall be regarded as a tenancy tenant at sufferance and not as a tenant at will; subject, however, to all the terms, provisions, covenants and agreements on the part of Tenant hereunder. At all times during the period of such tenancy at willsufferance, no payments of money by Tenant to Landlord after the termination of this Lease shall reinstate, continue, renew or extend the Term and no extension of this Lease after the termination hereof shall be valid unless and until the same shall be reduced to writing and signed by both Landlord and Tenant. In no event With respect to such tenancy at sufferance, Tenant shall be liable to Landlord for all damage which Landlord shall suffer by reason of Tenant's holding over and Tenant shall indemnify, defend and hold Landlord harmless against all claims made by any holdover be deemed a permitted extension other tenant or renewal prospective tenant against Landlord resulting from delay by Landlord in delivering possession of the Lease Term, and nothing contained herein shall be construed Premises to constitute Landlord’s consent to any holdover such other tenant or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionprospective tenant.
Appears in 2 contracts
Samples: Mount Vernon Place (Iss Group Inc), Lease Agreement (Internet Security Systems Inc/Ga)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice If Sub-Subtenant (directly or through any transferee or other successor- in-interest of Sub-Subtenant) remains in possession of all or any part of the date Sub-Sublease Premises after the Sub-Sublease Expiration Date or earlier termination of this Sub-Sublease, such holding over, in the absence of an express written agreement to the contrary, shall be on the basis of a tenancy at the sufferance of Sub-Sublandlord. In such event, Sub-Subtenant shall continue to comply with all of the terms, conditions and covenants of this Sub-Sublease as though the Sub-Sublease Term had continued, except that such tenancy at sufferance shall be terminable by Sub-Sublandlord at any time and Rent shall be paid for each month (or portion thereof) during which Tenant will vacate Sub-Subtenant holds over in the Premises, and that if Tenant fails to surrender the Sub-Sublease Premises or any portion thereof at after the expiration or earlier termination of this Sub-Sublease, in an amount equal to 150% of the Lease Term or upon Landlord’s remonthly Base Sub-entry following an Event of DefaultSublease Rent due under this Sub-Sublease, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent plus all other amounts that would otherwise have been payable as Additional Rent had the Lease Sub-Sublease Term continued during through the period of such holdover periodholding over. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately If Sub-Subtenant fails to surrender the Sub-Sublease Premises on the Sub-Sublease Expiration Date or earlier termination of this Sub-Sublease, in addition to any portion thereof other liabilities to Sub-Sublandlord accruing therefrom, Sub-Subtenant shall indemnify and hold Sub-Sublandlord harmless from all loss or liability resulting from such failure, including without limitation (i) any claims of Master Landlord against Sub-Sublandlord for failure to surrender the Sub-Sublease Premises at the time and in the manner required under the Master Lease or for violating any term of the Master Lease, (ii) any claims of Chinook against Sub-Sublandlord for failure to surrender the Sub-Sublease Premises at the time and in the manner required under the Perfect Day Sublease or for violating any term of the Perfect Day Sublease, and (iii) any claims made by any succeeding tenant or other third party based upon such failure. This indemnification obligation shall survive the expiration or earlier termination of the Lease Term or upon Landlord’s rethis Sub-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoSublease. The provisions of this Section 22.1 expressly survive termination of the Lease 4.11 are in addition to and do not limit Sub-Sublandlord’s rights or of TenantSub-Subtenant’s right to possessionobligations under this Sub-Sublease.
Appears in 2 contracts
Samples: Sub Sublease (Carmot Therapeutics Inc.), Sub Sublease (Carmot Therapeutics Inc.)
Holding Over. 22.1 It is hereby agreed that in the event of Tenant acknowledges that it is extremely important that Landlord have substantial advance notice holding over after the termination of this Lease, by lapse of time or otherwise, thereafter the date on which Tenant will vacate tenancy shall be from month to month in the Premisesabsence of a written agreement to the contrary, and that if Tenant fails shall pay to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value Landlord a monthly occupancy charge equal to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) for the first sixty (60) days of holdover, one hundred twenty-five percent (125%) of the fair market rent monthly Basic Rental payable hereunder for the entire Premiseslast lease year, or and (ii) for any holdover beyond said sixty (60) days, one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and monthly Basic Rental payable hereunder for the last lease year (2plus all other charges payable by Tenant under this Lease) for each month such occupancy charges to be payable from the expiration or termination of holdover thereafter, this Lease until the greater of (x) two hundred percent (200%) end of the fair market rent calendar month in which the Premises are delivered to Landlord in the condition required herein. If Landlord shall enter into a new lease or amend an existing lease for premises in the entire Premises, Building for all or (y) two hundred percent (200%) a portion of the then fully escalated Base Rent Premises at the end of the Term, Landlord shall so notify Tenant and additional rent. Such rent shall be computed by if Tenant fails to vacate and deliver all or such portion of the Premises to Landlord and paid by Tenant on a monthly basis and shall be payable on the first day within sixty (60) days after receipt of such holdover period and notice (but in no event prior to the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision expiration or earlier termination of this Lease), Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against be responsible for any and all damages which incurred by Landlord may suffer on account as a result of TenantXxxxxx’s hold-over in failure to so vacate and deliver the Premises after or such portion thereof (including the expiration loss of such lease or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionamendment).
Appears in 2 contracts
Samples: Lease (Rocket Companies, Inc.), Lease (Rocket Companies, Inc.)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that shall pay Landlord have substantial advance notice for each day Tenant retains possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof part of them after termination of this Lease by lapse of time or otherwise at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant rate (or anyone claiming through or under Tenant“Holdover Rate”) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder which shall be increased to equal One Hundred Fifty Percent (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125150%) of the fair market rent amount of the Annual Rent for the entire Premiseslast period prior to the date of such termination plus all Rent Adjustments under Article 4, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rentprorated on a daily basis, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed also pay all damages sustained by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day reason of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Termretention; provided, however, that consequential damages shall be available only if Tenant provides at least six (6) months prior written notice to Landlord of its intention to retain possession of the holdover persists for more than Premises after the termination of this Lease, then during the first thirty (30) days. Any days of any such holdover period, Tenant shall pay Landlord for each day Tenant retains possession of the Premises or part of them after termination of this Lease the amount of the Annual Rent for the last period prior to the date of such termination plus all Rent Adjustments under Article 4, prorated on a daily basis, and Tenant shall not be liable for any damages sustained by Landlord by reason of such retention during such thirty (30) day period. If Landlord gives notice to Tenant of Landlord’s election to such effect, such holding over shall constitute renewal of this Lease for a period from month to month at the Holdover Rate, but if the Landlord does not so elect, no such renewal shall result notwithstanding acceptance by Landlord of any sums due hereunder after such termination; and instead, a tenancy at sufferance at the Holdover Rate shall be deemed to be a tenancy at sufferance and not a tenancy at willhave been created. In any event, no event provision of this Article 14 shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute waive Landlord’s consent to right of reentry or any holdover or to give Tenant any other right with respect thereto. The provisions of under this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionat law.
Appears in 2 contracts
Samples: Commencement Date Agreement (Reata Pharmaceuticals Inc), Commencement Date Agreement (Reata Pharmaceuticals Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice holds possession of the date on which Premises after expiration of the term of this Lease with Landlord’s written consent, Tenant will vacate become a tenant from month-to-month upon the Premisesterms specified herein, and except that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it Rent will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rent for Rent in effect immediately prior to such expiration. Such month-to-month tenancy may be terminated by either Landlord or Tenant by giving sixty (60) days written notice of termination to the entire Premisesother. If Tenant holds over without Landlord’s written consent, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Tenant shall be a tenant at sufferance. In such event, Tenant shall pay Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) equal to two hundred percent (200%) of the fair market rent for Rent payable during the entire Premises, last month of the Term. If Tenant (a) fails to surrender the Premises within thirty (30) days after either Tenant or Landlord have terminated the month to month tenancy; or (yb) two hundred percent if Tenant fails to surrender the Premises within thirty (200%30) days after receipt of a notice to quit if Tenant is a tenant at sufferance; or (c) if Tenant fails to surrender the Premises within thirty (30) days after the expiration of this Lease whether it be an expiration or an earlier expiration due to default (time being of the then fully escalated Base Rent and additional rent. Such rent essence), Tenant shall be computed liable to Landlord for all losses, costs, liabilities and damages which Landlord may incur by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Leasereason thereof, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remediesincluding, including Landlord’s right to evict Tenant and to recover all damageswithout limitation, reasonable attorneys’ fees, and Tenant shall save Landlord, its agents and employees, harmless and will exonerateindemnify, defend and indemnify Landlord, its agents hold Landlord harmless against all claims made by any succeeding occupant against Landlord or otherwise arising out of or resulting from the failure of Tenant to timely surrender and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in vacate the Premises after in accordance with the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.Lease. 000 XXX XXXXXXXXXX XXXXXX
Appears in 2 contracts
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or upon earlier termination thereof, without the express written consent of Landlord’s re-entry following an Event of Default, then it will such tenancy shall be conclusively presumed that the value to Tenant of remaining in possessiona tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in such case daily damages in any action to recover possession of the loss that will Premises shall be suffered by Landlord as calculated at a result thereof, far exceed daily rate equal to (i) one hundred fifty percent (150%) of the Base Rent and additional rent that would have been payable had applicable during the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination last rental period of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) under this Lease for each of the first (1st) and second two (2nd2) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or and (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two thereafter plus one hundred percent (200100%) of the then fully escalated Base Rent and additional rentall Additional Rent. Such rent Nothing contained in this Article 16 shall be computed construed as consent by Landlord to any holding over by Tenant, and paid Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord’s express written consent, and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant on a monthly basis acknowledges and agrees that the cashing of such check or acceptance of such wire shall be payable on considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until Premises. Therefore, if Tenant fails to surrender the Premises have been vacated. Notwithstanding any other provision upon the termination or expiration of this Lease, Landlord’s acceptance of such rent shall not in addition to any manner adversely affect Landlord’s other rights and remediesliabilities to Landlord accruing therefrom, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlordprotect, its agents defend, indemnify and employees, hold Landlord harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against all claims made by any succeeding tenant founded upon such failure to vacate and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Lease Term; providedPremises, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension whether before or renewal after expiration of the Lease Term, and nothing contained herein shall be construed considered an action to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions enforce the terms of this Section 22.1 expressly survive termination Lease for purposes of the Lease or awarding of Tenantany attorney’s right to possessionfees in connection therewith.
Appears in 2 contracts
Samples: Project Agreement (Dropbox, Inc.), Project Agreement (Dropbox, Inc.)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or upon with the express written consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the and in such case Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater payable at a monthly rate of (i) one hundred twenty-five fifty percent (125150%) of the fair market rent Base Rent applicable during the last rental period of the Lease Term under this Lease for the entire Premises, or first (1st) month of any such holdover; (ii) one hundred twentyseventy-five percent (125175%) of the then fully escalated Base Rent and additional rent, applicable during the last rental period of the Lease Term under this Lease for the second (2nd) month of any such holdover; and (2) for each month of holdover thereafter, the greater of (xiii) two hundred percent (200%) of the fair market rent Base Rent applicable during the last rental period of the Lease Term under this Lease thereafter. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to (i) one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the entire Premises, or first (y1st) month of any such holdover; (ii) one hundred seventy-five percent (175%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the second (2nd) month of any such holdover; and (iii) two hundred percent (200%) of the then fully escalated Base Rent and additional rentapplicable during the last rental period of the Lease Term under this Lease (calculated on a per diem basis) thereafter. Such rent Nothing contained in this Article 16 shall be computed construed as consent by Landlord to any holding over by Tenant, and paid Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord’s express written consent, and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant on a monthly basis acknowledges and agrees that the cashing of such check or acceptance of such wire shall be payable on considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the first day of such holdover period Premises. Therefore, if Tenant fails to vacate and the first day of each calendar month thereafter during such holdover period until deliver the Premises have been vacated. Notwithstanding any other provision upon the termination or expiration of this Lease, Landlord’s acceptance of such rent shall not in addition to any manner adversely affect Landlord’s other rights and remediesliabilities to Landlord accruing therefrom, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlordprotect, its agents defend, indemnify and employees, hold Landlord harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against all claims made by any succeeding tenant founded upon such failure to vacate and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Lease Term; providedPremises, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension whether before or renewal after expiration of the Lease Term, and nothing contained herein shall be construed considered an action to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions enforce the terms of this Section 22.1 expressly survive termination Lease for purposes of the Lease or awarding of Tenantany attorney’s right to possessionfees in connection therewith.
Appears in 2 contracts
Samples: Office Lease (Dermavant Sciences LTD), Office Lease (Dermavant Sciences LTD)
Holding Over. 22.1 Except for any permitted occupancy by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which under Article 29, if Tenant will vacate the Premisesor any party claiming by, and that if through or under Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of this Lease, the Lease Term or upon Landlord’s re-entry following continued occupancy of the Premises shall be that of a tenancy at sufferance. Tenant shall pay an Event amount (on a per month basis without reduction for partial months during the holdover) equal to (A) with respect to the first thirty (30) days of Defaultany holding over, then it will be conclusively presumed that 150% of the value to Tenant sum of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had Tenant’s Pro Rata Share of Excess Operating Expenses due for the Lease Term continued during such holdover period. Thereforeperiod immediately preceding the holdover, if Tenant (or anyone claiming through or under TenantB) does not immediately surrender with respect to the Premises or second thirty (30) days of any portion thereof upon the expiration or earlier termination holding over, 175% of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each sum of the first (1st) Base Rent and second (2nd) months Tenant’s Pro Rata Share of such Excess Operating Expenses due for the period immediately preceding the holdover, (C) with respect to any holding over after the second thirty (30) days, 200% of the greater of of: (i) one hundred twenty-five percent (125%) the sum of the fair market rent Base Rent and Tenant’s Pro Rata Share of Excess Operating Expenses due for the entire Premises, period immediately preceding the holdover; or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent gross rental for the entire Premises. Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease. No holdover by Tenant or payment by Tenant after the expiration or early termination of this Lease shall be construed to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. In addition to the payment of the amounts provided above, if Landlord is unable to deliver possession of the Premises to a new tenant, or (y) two hundred percent (200%) to perform improvements for a new tenant, as a result of the then fully escalated Base Rent Tenant’s holdover and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until fails to vacate the Premises have been vacated. Notwithstanding within 15 days after Landlord notifies Tenant of Landlord’s inability to deliver possession, or perform improvements, such failure shall constitute a Time Sensitive Default hereunder; and notwithstanding any other provision of this LeaseLease to the contrary, Landlord’s acceptance of such rent Tenant shall not in any manner adversely affect Landlord’s other rights be liable to Landlord for, and remediesshall protect Landlord from and indemnify and defend Landlord against, all losses and damages, including Landlord’s right any claims made by any succeeding tenant resulting from such failure to evict Tenant and to recover all damagesvacate, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if that Landlord suffers from the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionholdover.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion part thereof at after the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance whether by lapse of such rent shall not in any manner adversely affect Landlord’s other rights and remediestime or otherwise, including Landlordor after a termination of Tenant’s right to evict Tenant and to recover all damagespossess the Premises, and Tenant shall save then Landlord may, at Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against ’s sole election at any and all damages which Landlord may suffer on account time after the termination of this Lease or Tenant’s hold-over in the Premises after the expiration or prior termination right of the Lease Term; providedpossession, however, that consequential damages shall be available only if the holdover persists for more serve not less than thirty (30) days. Any days prior written notice on Tenant that such holdover holding over constitutes either: (a) the creation of a month-to-month tenancy upon each of the terms herein provided as may be applicable to such month-to-month tenancy, except that Tenant shall be deemed pay to be Landlord Base Rent for each month or portion thereof in the amount set forth below, plus all Tax Rent and Assessments coming due during such period, or (b) the creation of a tenancy at sufferance and not a upon each of the terms herein provided as may be applicable to such tenancy at willsufferance, except that Tenant shall pay to Landlord a per diem rent equal to the per diem Base Rent set forth below, plus the per diem amount of all Tax Rent and Assessments. In If no event shall any holdover be deemed a permitted extension written notice is served by Landlord within thirty (30) days after the expiration or renewal termination of the Lease TermTerm hereof, and nothing contained herein then a month-to-month tenancy with rent stated as in (a) above shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretohave been created. The provisions of this Section 22.1 expressly survive termination 21 shall not operate as a waiver by Landlord of any right of re-entry herein provided. If Tenant remains in possession more than one hundred eighty (180) days after the expiration of the Term, at Landlord’s option expressed in a written notice to Tenant delivered no later than ten (10) days after such 180-day period and not otherwise, such holding over shall constitute a renewal of this Lease or for a period of one (1) year commencing on the first (1st) day after the expiration of the Term at the Base Rent and set forth below, plus all Tax Rent and Assessments coming due during such period. In addition to and not in limitation of all other remedies set out in this Section 21, Tenant shall be liable for all damages (consequential as well as direct) sustained by Landlord on account of Tenant’s right holding over. If Tenant reasonably anticipates that it will need to possession.hold-over, then it shall promptly notify Landlord thereof if, as and when Tenant makes such determination. Tenant agrees to use its best reasonable, good faith efforts to make such determination at least ninety (90) days prior to the expiration of the Term, if it is reasonably practical for Tenant to do so; or as soon thereafter as is reasonably practical. Subject to the foregoing, Base Rent payable during any holding over shall be as follows:
Appears in 1 contract
Samples: Agreement (Cryolife Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Should Tenant (or anyone claiming through any subtenant, assignee or under Tenant) does not immediately surrender other party occupying the Premises by, through, under, or any portion thereof upon with the expiration or earlier permission of Tenant), without Landlord’s written consent, hold over after termination of the Lease Term or upon this Lease, Tenant shall, at Landlord’s reoption, become either a tenant at sufferance, after the initial forty-entry following an Event five (45) days of Defaultsuch holding over, then the rent payable by Tenant hereunder shall be increased to equal (1) for or a month-to-month tenant upon each and all of the first (1st) terms herein provided as may be applicable to such a tenancy and second (2nd) months any such holding over shall not constitute an extension of this Lease. During such holdoverholding over, the greater of (i) Tenant shall pay in advance Basic Rental at a rate equal to one hundred twenty-five percent (125%) of the fair market rent rate in effect for the entire last month of the Term of this Lease for the first forty-five (45) days of such holdover (which initial forty-five (45) days shall be on a per-diem basis, and shall not create a month to month tenancy) and one hundred fifty percent (150%) of the rate in effect for the last month of the Term of this Lease thereafter. Any such payments shall be, in addition to, and not in lieu of, all other payments required to be made by Tenant hereunder including but not limited to Tenant’s Proportionate Share of any increase in Direct Costs. Nothing contained in this Article 5 shall be construed as consent by Landlord to any holding over of the Premises by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or earlier termination of the Term. If Landlord provides Tenant with at least twenty (20) days prior written notice that Landlord has a signed proposal or lease from a succeeding tenant to lease the Premises, and if Tenant fails to surrender the Premises upon the later of (i) the date of expiration of such twenty (20) day period, or (ii) one hundred twenty-five percent (125%) the date of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, expiration or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision termination of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right Tenant agrees to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerateindemnify, defend and indemnify Landlord, its agents and employees, hold Landlord harmless from and against all costs, loss, expense or liability, including without limitation, claims made by any succeeding tenant and all damages which Landlord may suffer on account of Tenantreal estate brokers claims and attorney’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance fees and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessioncosts.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important Provided that Landlord have substantial advance notice has not executed a lease with a new tenant for all or any portion of the date on which Tenant will vacate the Premises, and that if Tenant fails shall have the right, by providing at least ninety (90) days prior written notice to surrender the Premises or any portion thereof at Landlord, to hold over for up to three (3) consecutive one (1) month periods following the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event Lease. All of Default, then it will be conclusively presumed that the value to rights and obligations of Landlord and Tenant of remaining in possession, and herein shall remain the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued same during any such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender except that the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder Basic Monthly Rental shall be increased equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent Basic Monthly Rental that was in effect upon expiration of the Lease, and Landlord shall not be required to maintain or renew the environmental insurance policy described in Section 11.7 during any holdover period. If Landlord has executed a lease with a new tenant for all or a portion of the entire Premises, or (ii) one hundred twenty-five percent (125%) and Tenant does not immediately surrender possession of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, Premises at the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision termination of this Lease, Landlord’s acceptance Tenant shall become a tenant at sufferance only, subject to all of the provisions of this Lease except that the rate of the Basic Monthly Rental shall be 150% the Basic Monthly Rental applicable just prior to termination of this Lease, such rent rental to be payable in advance; but unless Landlord elects to accept such rental from Tenant, Landlord shall not in continue to be entitled to re-take possession of the Premises without any manner adversely affect Landlord’s other rights and remediesprior notice to Tenant. If Tenant shall fail to surrender possession of the Premises immediately upon the expiration of the Term, including Landlord’s right to evict Tenant hereby agrees that all of the obligations of Tenant and to recover all damagesrights of Landlord applicable during the Term shall be equally applicable during such period of subsequent occupancy, and whether or not a month-to-month tenancy shall have been created as provided in this paragraph. Tenant further agrees that it shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against be liable for any and all damages which suffered by Landlord may suffer on account by reason of Tenant’s hold-over in failure to immediately surrender the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionPremises.
Appears in 1 contract
Holding Over. 22.1 No holding over by Tenant acknowledges that it is extremely important that past the Expiration Date shall operate to extend the Term. Notwithstanding the foregoing, if Tenant gives Landlord not less than twelve (12) months prior written notice, Tenant will have substantial advance notice the one time right to hold over possession of the date entire Premises for one calendar month on which all of the terms and conditions of this Lease, except that Base Rent for said one month period of holdover shall be increased to one hundred fifty percent (150%) of the Base Rent in effect during the last month of the Term and the terms of the following three sentences shall not apply. Subject to the foregoing, if Tenant will remains in possession of the Premises after expiration or termination of this Lease: (i) Tenant shall become a tenant at sufferance upon all the applicable terms and conditions of this Lease, except that Base Rent shall be increased to the greater of (a) one hundred fifty percent (150%) of the Base Rent in effect for the last month of the Term, and (b) one hundred fifty percent (150%) of the fair market rental value of the Premises (as evidenced by the rental rates then being offered by Landlord for comparable space in the Building) during such period. In addition to the foregoing, Tenant shall indemnify, defend, protect and hold harmless Landlord, the other Indemnitees, and any tenant to whom Landlord has leased all or part of the Premises from Claims (including loss of rent loss to Landlord or additional rent payable by such tenant and reasonable attorneys’ fees) suffered or incurred by Landlord, such other Indemnitees, or such tenant resulting from Tenant’s failure timely to vacate the Premises; and (iii) such holding over by Tenant shall constitute an Event of Default. Landlord’s acceptance of Rent if and after Tenant holds over shall not convert Tenant’s tenancy at sufferance to any other form of tenancy or result in a renewal or extension of the Term of this Lease, and that if unless otherwise specified by written notice from Landlord to Tenant. Within ten (10) business days after Tenant’s request, Landlord shall provide Tenant fails to surrender a written notice setting forth any leases or other occupancy agreements for the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered entered into by Landlord as a result thereof, far exceed of the Base Rent date of such request and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon which will commence after the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision term of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights Lease and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages for which Landlord may suffer on account of Tenant’s hold-over in Claims if Tenant fails to timely vacate the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionPremises.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice (directly or through any Transferee or other successor-in-interest of Tenant) remains in possession of the date Premises after the expiration or termination of this Lease, Tenant’s continued possession shall be on which the basis of a tenancy at the sufferance of Landlord. No act or omission by Landlord, other than its specific written consent, shall constitute permission for Tenant will vacate to continue in possession of the Premises, and that if such consent is given or declared to have been given by a court judgment, Landlord may terminate Tenant’s holdover tenancy at any time upon seven (7) days written notice. In such event, Tenant fails shall continue to surrender comply with or perform all the Premises or any portion thereof at the expiration or earlier termination terms and obligations of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTenant under this Lease, then it will be conclusively presumed except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the monthly Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder holding over shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market Base Rent payable in the last full month prior to the termination hereof. Acceptance by Landlord of rent for after such termination shall not constitute a renewal or extension of this Lease; and nothing contained in this provision shall be deemed to waive Landlord’s right of re-entry or any other right hereunder or at law. Tenant shall indemnify, defend and hold Landlord harmless from and against all claims (“Holdover Claims”) arising or resulting directly or indirectly from Tenant’s failure to timely surrender the entire Premises, including (i) any rent payable by or any loss, cost, or damages claimed by any prospective tenant of the Premises, and (ii) Landlord’s damages as a result of such prospective tenant rescinding or refusing to enter into the prospective lease of the Premises by reason of such failure to timely surrender the Premises; provided, however, if at least one hundred twenty-five percent twenty (125%120) days prior to the expiration of the then fully escalated Base Rent and additional rentTerm, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Tenant gives Landlord and paid by written notice that Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and anticipates it will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-hold over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages then Tenant shall be available only if have the holdover persists right to hold over in the Premises for more than up to thirty (30) days. Any such days at the holdover shall be deemed rate contained above in this paragraph without indemnifying Landlord against the Holdover Claims, unless Landlord gives Tenant written notice at least sixty (60) days prior to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal the expiration of the Lease TermTerm that Landlord has leased the Premises to a third party (and Landlord has in fact entered into a written agreement with a third party leasing the Premises to such third party), in which event Tenant shall indemnify, defend and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of hold Landlord harmless from and against the Holdover Claims, as first provided in this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.sentence
Appears in 1 contract
Holding Over. 22.1 Except for any permitted occupancy by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which under Article 29, if Tenant will vacate the Premisesor any party claiming by, and that if through or under Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of this Lease, the Lease Term or upon Landlord’s re-entry following an Event continued occupancy of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal that of a tenancy at sufferance. Tenant shall pay an amount (1on a per month basis without reduction for partial months during the holdover) equal, for each of the first initial two (1st) and second (2nd2) months of such holdover, the greater of (i) to one hundred twenty-five fifty percent (125150%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rentof, and (2) for each month of holdover thereafter, the greater of (x) thereafter to two hundred percent (200%) of, the greater of: (A) the sum of the Base Rent and Tenant’s Pro Rata Share of Excess Operating Expenses due for the period immediately preceding the holdover; or (B) the fair market rent gross rental for the entire Premises. Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease. No holdover by Tenant or payment by Tenant after the expiration or early termination of this Lease shall be construed to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. In addition to the payment of the amounts provided above, if Landlord is unable to deliver possession of the Premises to a new tenant, or (y) two hundred percent (200%) to perform improvements for a new tenant, as a result of the then fully escalated Base Rent Tenant’s holdover and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until fails to vacate the Premises have been vacated. Notwithstanding within fifteen (15) days after Landlord notifies Tenant of Landlord’s inability to deliver possession, or perform improvements, such failure shall constitute a Time Sensitive Default hereunder; and notwithstanding any other provision of this LeaseLease to the contrary, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remediesTENANT SHALL BE LIABLE TO LANDLORD FOR, including Landlord’s right to evict Tenant and to recover all damagesAND SHALL PROTECT LANDLORD FROM AND INDEMNIFY AND DEFEND LANDLORD AGAINST, and Tenant shall save LandlordALL LOSSES AND DAMAGES, its agents and employeesINCLUDING ANY CLAIMS MADE BY ANY SUCCEEDING TENANT RESULTING FROM SUCH FAILURE TO VACATE, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionAND ANY CONSEQUENTIAL DAMAGES THAT LANDLORD SUFFERS FROM THE HOLDOVER.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice will not be permitted to hold over possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration or earlier termination of the Lease Term or upon without the express written consent of Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to which consent Landlord may withhold in its sole and absolute discretion. If Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon holds over after the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then the rent payable Landlord may, at its option, treat Tenant as a tenant at sufferance only, and such continued occupancy by Tenant hereunder shall be increased subject to equal (1) for each all of the first (1st) terms, covenants and second (2nd) months conditions of this Lease, so far as applicable, except that the Monthly Base Rent for any such holdover, holdover period shall be equal to the greater of (ii)(A) one hundred twenty-five percent (125%) of the fair market rent for the entire Premisesfirst fifteen (15) days of holdover, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Monthly Base Rent and additional rentin effect under this Lease immediately prior to such holdover, and (2B) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire PremisesMonthly Base Rent in effect under this Lease immediately prior to such holdover, or (yii) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant currently scheduled rental rate for comparable space in the Building, in either event prorated on a monthly basis and shall be payable on the first day basis. Acceptance by Landlord of rent after such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision expiration or earlier termination will not result in a renewal of this Lease, Landlord’s acceptance . The foregoing provisions of such rent shall this Paragraph 11 are in addition to and do not in any manner adversely affect Landlord’s other 's right of re-entry or any rights and remedies, including Landlord’s right of Landlord under this Lease or as otherwise provided by law. If Tenant fails to evict Tenant and surrender the Premises upon the expiration of this Lease in accordance with the terms of this Paragraph 11 despite demand to recover all damages, and Tenant shall save do so by Landlord, its agents and employeesTenant agrees to promptly indemnify, harmless and will exonerateprotect, defend and indemnify Landlordhold Landlord harmless from all claims, its agents damages, judgments, suits, causes of action, losses, liabilities, penalties, fines, expenses and employeescosts (including attorneys' fees and costs), from including, without limitation, costs and against any and all damages which expenses incurred by Landlord may suffer on account of Tenant’s hold-over in returning the Premises after to the expiration condition in which Tenant was to surrender it and claims made by any succeeding tenant founded on or prior termination of resulting from Tenant's failure to surrender the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoPremises. The provisions of this Section 22.1 expressly Subparagraph 11(b) will survive the expiration or earlier termination of the Lease or of Tenant’s right to possessionthis Lease.
Appears in 1 contract
Samples: Office Building Lease (Supergen Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion part thereof at after the expiration or earlier termination of the Lease Term or upon Landlord’s reTerm, such occupancy shall constitute and be construed as a month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month tenancy only, and Tenant shall pay, as holdover rent, on a per month basis (without reduction for partial months during the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued holdover) (i) during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first three (1st) and second (2nd3) months of any such holdoverholding over, the greater sum of (ia) Base Rent at a rate equal to one hundred twenty-five percent (125%) of the fair market rent for monthly installment of Base Rent applicable hereunder during the entire Premiseslast month of the Lease Term, or plus (b) all monthly Additional Rent applicable hereunder during the last month of the Lease Term; and (ii) during each month after the first three (3) month period of any such holding over, the sum of (A) Base Rent at a rate equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated monthly installment of Base Rent and additional rent, and (2) for each applicable hereunder during the last month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term, plus (B) all monthly Additional Rent applicable hereunder during the last month of the Lease Term. The foregoing provisions of this Section 3.5 shall not be construed to give Tenant any right to remain in possession of the Premises or any part thereof after the expiration of the Lease Term, to prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise, or to waive any of Landlord's rights under this Lease to collect any damages to which it may be entitled, whether direct or consequential; provided, however, that Tenant shall only be liable for consequential damages shall be available only incurred by Landlord in connection with Tenant’s holdover if the holdover persists for more than (1) Landlord provides Tenant with at least thirty (30) days. Any such holdover shall be deemed days prior written notice that Landlord has received a bona fide written offer to be a tenancy at sufferance and not a tenancy at will. In no event shall lease all or any holdover be deemed a permitted extension or renewal portion of the Lease TermPremises from an existing tenant of the Building or a prospective tenant, which proposal Landlord is prepared to accept; and nothing contained herein shall be construed (2) Tenant has failed to constitute vacate the Premises within thirty (30) days after receipt of Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionwritten notice.
Appears in 1 contract
Samples: Office Lease (Copart Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term hereof, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and shall not constitute a renewal hereof or an extension for any further term, and in such case the loss that will be suffered by Landlord as a result thereof, far exceed the monthly Base Rent and additional rent that would have been shall be adjusted upward from the monthly Base Rent payable had under the Lease during the last month of the Term continued during such holdover period. Thereforeof the Lease, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender taking into account the Premises or any portion thereof upon rent abatement with respect to the expiration or earlier termination Abated Space set forth in Section 3.2 of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1"Final Month's Base Rent") for each commencing as of the first (1st) and second (2nd) months month of such holdover, the greater of month to month tenancy as follows: (i) to one hundred twenty-five percent (125%) of the fair market rent Final Month's Base Rent for the entire Premises, or second (2nd) month of such month-to-month tenancy,- (ii) to one hundred twenty-five forty percent (125140%) of the then fully escalated Final Month's Base Rent and additional rent, for the third (3rd) month of such month-to-month tenancy; and (2iii) for each month of holdover thereafter, the greater of (x) two to one hundred fifty percent (200150%) of the fair market rent Final Month's Base Rent for the entire Premisesfourth (4th) month of such month-to-month tenancy and for any month of such month-to-month tenancy thereafter. Such month-to-month tenancy shall be subject to every other term, or (y) two hundred percent (200%) covenant and agreement contained herein. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Premises to Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over as provided in the Premises after Lease upon the expiration or prior other termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoLease. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord's consent, such holding over may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to surrender the Premises upon the termination or expiration of the Lease or Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such failure, including, without limiting the generality of Tenant’s right the foregoing, any claims made by any succeeding tenant founded upon such failure to possessionsurrender, and any losses suffered by Landlord, including lost profits, resulting from such failure to surrender.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion part thereof at after the expiration end of the Term or earlier termination of Tenant’s right to possession of the Lease Term or upon LandlordPremises (it being agreed that Tenant’s re-entry following an Event failure to timely remove all Tenant’s Property and all the Required Removables from the Premises shall also be considered a retention of Defaultthe Premises by Tenant), then it will such retention of possession shall be conclusively presumed that the value to Tenant of remaining in possessionconsidered a tenancy “at will” or “sufferance” (and not a month-to-month tenancy), and Tenant shall pay Rent for such holding over in an amount equal to the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant sum of: (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (ia) one hundred twenty-five percent (125%) of the fair market rent monthly Rent in effect immediately preceding such holding over computed on a monthly basis for each of the entire Premises, first two (2) months or partial months that Tenant remains in possession; plus (iib) one hundred twenty-five fifty percent (125150%) of the then fully escalated Base monthly Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be in effect immediately preceding such holding over computed by Landlord and paid by Tenant on a monthly basis and shall be payable on for each month or partial month that Tenant remains in possession after such first two (2) months or partial months. In addition to the first day payment of such holdover period and the first day amounts provided above, if Landlord is unable to timely deliver possession of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account a third party as a result of Tenant’s hold-over in holdover then, provided Landlord has provided written notice to Tenant that Landlord may be subject to damages or penalties imposed by such third party because Landlord is unable to timely deliver possession of the Premises to such third party on or before a date that is not more than 60 days after the expiration or prior termination date of such notice, Tenant shall be liable to Landlord for all damages including, but not limited to, consequential damages that Landlord suffers from the Lease Termholdover; provided, however, that Tenant shall only be liable to Landlord for consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal Tenant retains possession of the Lease Premises or any part thereof after the end of the Term or termination of Tenant’s right to possession of the Premises (it being agreed that Tenant’s failure to timely remove all Tenant’s Property and all the Required Removables from the Premises shall also be considered a retention of the Premises by Tenant) for ninety (90) or more days after the expiration or termination (as applicable) of the Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination do not waive Landlord’s right of the Lease re-entry or right to regain possession by actions at Law or in equity or any other rights hereunder, and any receipt of payment by Landlord shall not be deemed a consent by Landlord to Tenant’s remaining in possession or be construed as creating or renewing any lease or right to possessionof tenancy between Landlord and Tenant.
Appears in 1 contract
Samples: Lease Agreement (NEUROONE MEDICAL TECHNOLOGIES Corp)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration or earlier other termination of the Lease Term or upon Term, then, at Landlord’s re-entry following an Event of Default's option, then it will Tenant shall be conclusively presumed that deemed to be occupying the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord Premises as a result thereofmonth-to-month tenant only, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued at a monthly rental equal to (i) during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first sixty (1st60) and second (2nd) months days of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for monthly Base Rent applicable during the entire Premiseslast rental period of the Term, or and (ii) following the first sixty (60) days of any holdover, one hundred twenty-five fifty percent (125150%) of the then fully escalated monthly Base Rent and additional rentapplicable during the last rental period of the Term. Tenant shall also pay all Additional Rent payable under this Lease, and (2) prorated for each month of holdover thereafter, the greater of (x) two hundred percent (200%) during which Tenant remains in possession. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the fair market rent for last day of any calendar month by delivery to the entire Premises, or (y) two hundred percent (200%) other of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on notice of such termination prior to the first day of such holdover period calendar month. Nothing contained in this Section 8.3 shall be construed as consent by Landlord, which consent may be withheld in Landlord's sole discretion, to any holding over by Tenant, and Landlord expressly reserves the first day right to require Tenant to surrender possession of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any to Landlord as provided in this Lease upon the expiration or other provision termination of this Lease, Landlord’s acceptance . The provisions of such rent this Section 8.3 shall not in be deemed to limit or constitute a waiver of any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and or remedies of Landlord provided herein or at law. Tenant shall save Landlordprotect, its agents defend, indemnify and employees, hold Landlord harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all claims, losses and liabilities for damages which Landlord may suffer on account of Tenant’s hold-over in the Premises resulting from failure to surrender possession no later than ninety (90) days after the expiration Expiration Date or prior sooner termination of the Lease Term, including, without limitation, any claims made by any succeeding tenant and any lost profits to Landlord resulting therefor (collectively "Consequential Damages"); provided, however, that consequential damages during the first ninety (90) days following the Expiration Date, such Consequential Damages shall be available include only the excess, if any, of the amount of rental income which would have been payable to Landlord from the next tenant of the Premises (or portion thereof) in the event Tenant had timely vacated the Premises (or portion thereof) over the holdover persists for more than thirty (30) daysrent payable by Tenant during such period. Any such holdover Tenant's indemnification obligations pursuant to this Section 8.3 shall survive the expiration or sooner termination of this Lease. Notwithstanding any contrary provisions of this Lease or set forth in applicable law to the contrary, Landlord and Tenant hereby acknowledge and agree that in the event Tenant remains in possession of all or a portion of the Premises following the expiration or earlier termination of this Lease, Landlord may, at Landlord's sole option, commence and pursue to completion an unlawful detainer action or other action to terminate the Lease with respect to any full floor of the Premises, and Landlord shall not be deemed required to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal terminate the remainder of the Lease Term, and nothing contained herein shall be construed unless Landlord chooses to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessiondo so in its sole discretion.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, because Landlord will (a) require an extensive period to locate a replacement tenant, and (b) plan its entire leasing and renovation program for the Building in reliance on its lease expiration dates. Tenant also acknowledges that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent Additional Rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i1) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire PremisesBase Rent, or (y) two hundred percent (200%) of the then fully escalated Base Additional Rent and additional rentother sums that would have been payable pursuant to the provisions of this Lease if the Lease Term had continued during such holdover period. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s 's acceptance of such rent shall not in any manner adversely affect Landlord’s 's other rights and remedies, including Landlord’s 's right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at tenancy-at-sufferance and not a tenancy-at-will or tenancy at willfrom month-to-month; provided, however, that Landlord may, in addition to its other remedies, elect, in its sole discretion, to treat such holdover as the creation of a month-to-month tenancy with Tenant. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s 's consent to any holdover or to give Tenant any right with respect thereto. The provisions Except as otherwise specifically provided in this Article, all terms of this Section 22.1 expressly survive termination of Lease shall remain in full force and effect during the Lease or of Tenant’s right to possessionholdover period.
Appears in 1 contract
Samples: Lease (Electronic Arts Inc)
Holding Over. 22.1 It is hereby agreed that in the event of Tenant acknowledges that it is extremely important that holding over after the termination of this Lease, by lapse of time or otherwise, thereafter the tenancy shall be from month to month in the absence of a written agreement to the contrary, and Tenant shall pay to Landlord have substantial advance notice a monthly occupancy charge equal to (i) for the first sixty ( 60) days of holdover, one hundred twenty -five percent (12 5%) of the date on which Tenant will vacate monthly Basic Rental payable hereunder for the Premiseslast lease year, and that (ii) for any holdover beyond said sixty (60) days, one hundred seventy-five percent (17 5%) of the monthly Basic Rental payable hereunder for the last lease year (plus all other charges payable by Tenant under this Lease) such occupancy charges to be payable from the expiration or termination of this Lease until the end of the calendar month in which the Demised Premises are delivered to Landlord in the condition required herein. If Landlord shall enter into a new lease or amend an existing lease for premises in the Building for all or a portion of the Demised Premises at the end of the Term, Landlord shall so notify Tenant and if Tenant fails to surrender vacate and deliver all or such portion of the Demised Premises or any portion thereof at to Landlord within sixty ( 60) days after receipt of such notice (but in no event prior to the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Defaultthis Lease), then it will Tenant shall be conclusively presumed that the value to Tenant of remaining in possession, responsible for any and the loss that will be suffered all damages incurred by Landlord as a result thereof, far exceed of Tenant's failure to so vacate and deliver the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Demised Premises or any such portion thereof upon (including the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months loss of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, lease or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionamendment).
Appears in 1 contract
Samples: Lease (Covisint Corp)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of all or any part of the date on which Tenant will vacate Premises after the Premisesexpiration of the term hereof, with or without the express consent of Landlord, such tenancy shall be from month-to-month only, and that if Tenant fails to surrender the Premises not a renewal hereof or an extension for any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionfurther term, and the loss that will be suffered by Landlord as a result thereofin such case, far exceed the Base Rent rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant other monetary sums due hereunder shall be increased payable at a rate equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-twenty five percent (125%) of the fair market rent in effect just prior to such holdover thereafter for the entire Premises, or (ii) first 30 days and one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rentrent in effect just prior to such holdover for every month thereafter, and (2) if such holding over is without the express consent of Landlord, Tenant shall be liable to Landlord for each all reasonable costs and damages caused to Landlord by such holding over. Such month-to-month of holdover thereaftertenancy shall be subject to every other term, covenant and agreement contained herein. In the greater of (x) two hundred percent (200%) event Landlord fails to deliver the Premises on the Commencement Date because the previous occupant of the fair market rent Premises is holding over, or for any other cause beyond Landlord's control, Landlord shall not be liable to Tenant for any damages as a result of Landlord's delay in delivering the entire Premises, or (y) two hundred percent (200%) of nor shall any delay affect the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision validity of this Lease, and the Commencement Date of this Lease shall be postponed until the Premises can be delivered by Landlord’s acceptance . Notwithstanding the foregoing, if Landlord fails to deliver the Premises within one hundred twenty (120) days after the Commencement Date, this Lease shall be voidable without further obligation or liability of such rent shall not in any manner adversely affect Landlord’s other rights and remedieseither party, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account at the option of Tenant’s hold-over in the Premises , upon written notice to Landlord within five (5) days after the expiration or prior termination of said one hundred twenty (120) day period. In the event of any postponement of the Commencement Date as provided in this Paragraph 27, the Lease Term; providedTerm shall remain the same, however, that consequential damages but the Expiration Date shall be available only if extended for the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal same number of days the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionCommencement date was postponed.
Appears in 1 contract
Samples: Virage Inc
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice fails to vacate the Premises at the end of the date on Term, then such failure shall be deemed to be an Event of Default, Tenant shall be a tenant at sufferance and, in addition to all other damages and remedies to which Landlord may be entitled for such holding over, (a) Tenant will vacate shall pay, in addition to the Premisesother Rent, Basic Rent equal to one hundred fifty percent (150%) of the Rent payable during the last month of the Term, and that if (b) Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease. The provisions of this Section 22 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at Law. If Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the termination or expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such rent shall not in any manner adversely affect Landlord’s other rights and remediesfailure, including Landlord’s right any claims made by any succeeding tenant founded upon such failure to evict Tenant and to recover all damagessurrender, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only to Landlord resulting therefrom first if the holdover persists for more than such breach of this Section 22 extends beyond thirty (30) days. Any such holdover Notwithstanding the above, on the condition that (i) Tenant is not in default under this Lease, (ii) Tenant has given Landlord at least 90 days’ prior written notice of its intent to remain in the Premises beyond the expiration or termination of this Lease, and (iii) Landlord does not have a signed letter of intent or lease with another tenant for the Premises, at the time Tenant gives its notice of intent, then no new tenancy shall be deemed created and Tenant shall be a tenant at sufferance for a period of up to sixty (60) days (the “Permitted Holdover Period”) (a) at a rate (the “Permitted Holdover Rate”) equal to (1) the Rent payable by Tenant during the last month of the Term for the first thirty (30) days of such Permitted Holdover Period, and (2) at the rate of one hundred fifty percent (150%) of the Rent payable during the last month of the Term during the next thirty (30) days of the Permitted Holdover Period, and (b) Tenant shall otherwise continue to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed subject to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or all of Tenant’s obligations under this Lease. Tenant shall not be liable for consequential, direct or indirect damages suffered by Landlord on account of such holding over during the Permitted Holdover Period. If Tenant continues to holdover in the Premises following the end of the Permitted Holdover Period, such holding over shall be without right and subject to possessionall of the provisions set forth above.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term hereof, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the and in such case Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal payable as follows: (1i) for each of during the first three (1st) and second (2nd3) months of such holdover, the greater of (i) Tenant shall pay Base Rent to Landlord at a monthly rate equal to one hundred twenty-five percent (125%) of the fair market rent for Base Rent applicable during the entire Premises, or last rental period of the Lease Term under this Lease; and (ii) thereafter during such holdover, Tenant shall pay Base Rent to Landlord at a monthly rate equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, applicable during the greater of (x) two hundred percent (200%) last rental period of the fair market rent for Lease Term under this Lease. Such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein. Landlord hereby expressly reserves the entire Premises, or (y) two hundred percent (200%) right to require Tenant to surrender possession of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Premises to Landlord and paid by Tenant on a monthly basis and shall be payable on as provided in this Lease upon the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any expiration or other provision termination of this Lease, Landlord’s acceptance . The provisions of such rent this Article 16 shall not in be deemed to limit or constitute a waiver of any manner adversely affect Landlord’s other rights and remediesor remedies of Landlord provided herein or at law. In addition to the payment of holdover rent as referenced above, including Landlord’s right to evict Tenant and to recover all damagesif Landlord reasonably determines that it will incur additional costs, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account expenses or liabilities by reason of Tenant’s hold-over in holdover which are not fairly compensated by the Premises after payment of holdover rent (and Landlord can provide Tenant with reasonable documentation, such as a signed lease for the expiration Premises, showing that such costs, expenses and/or liabilities are impending or prior termination of otherwise reasonably likely to occur and not purely speculative), Landlord shall have the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more right to deliver to Tenant no less than thirty (30) days. Any ’ prior written notice of such additional holdover shall be deemed liability (collectively, “Rental Loss Damages”) and if Tenant fails to be a tenancy at sufferance vacate the Premises within such 30-day period, Tenant agrees to indemnify, defend and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Termhold Landlord harmless from and against all claims, liabilities, losses, costs and nothing contained herein shall be construed expenses (including reasonable attorneys’ fees) relating to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or Rental Loss Damages by reason of Tenant’s right failure to possessionvacate and surrender the Premises in accordance with the terms and conditions of this Lease.
Appears in 1 contract
Samples: Office Lease (United Online Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term Term, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the and in such case Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to payable at a monthly rate equal to: (1i) for each of during the first initial three (1st) and second (2nd3) months of such holdover, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rent for monthly Base Rent applicable during the entire Premises, or last rental period of the Lease Term under this Lease; and (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month any period of holdover thereafter, the greater of (x) two hundred percent (200%) of the greater of (a) the Base Rent applicable during the last rental period of the Lease Term under this Lease or (b) the fair market rent rental rate for the entire Premises, or (y) two hundred percent (200%) Premises as of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day commencement of such holdover period period. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the first day right to require Tenant to surrender possession of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any to Landlord as provided in this Lease upon the expiration or other provision termination of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord’s consent, such holding over may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all Claims resulting from such failure, including, without limiting the generality of the Lease or of Tenant’s right foregoing, any claims made by any succeeding tenant founded upon such failure to possessionsurrender, and any losses suffered by Landlord, including lost profits, resulting from such failure to surrender.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice holds over in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior sooner termination of the Lease Term; providedLease, howeversuch holding over shall, that consequential damages shall at Landlord’s option and without limiting any of Landlord’s remedies, be available only if the holdover persists for more construed as a tenancy at will, terminable on no less than thirty (30) daysdays Notice. Any Landlord shall provide Tenant with Notice prior to the expiration or sooner termination of the Lease of Landlord’s election that such holdover holding over be construed as a tenancy at sufferance; if Landlord fails to provide such Notice, such holding over shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no Tenant’s use of the Premises during any such holdover period shall be at a Base Rent equal to the greater of (i) the fair market rental value of the Premises during such period; or (ii) one hundred fifty percent (150%) of the Base Rent due in the last full month of the Term (without considering any abatement of such amount to which Tenant may have been entitled in such month as a result of any event for which the terms of this Lease expressly provide abatement or otherwise), and otherwise be on the terms and conditions herein specified; provided, however, that all renewal, expansion or other optional rights of Tenant contained in this Lease, if any, shall any holdover be deemed a permitted void during any such holdover tenancy. No ongoing negotiation regarding the extension or renewal of this Lease (or any occupancy rights of Tenant in the Lease Term, and nothing contained herein Project) shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or a waiver by Landlord of Tenant’s holdover status or a consent by Landlord to any such holdover, or any waiver of Landlord’s right to possessionreceive or Tenant’s obligation to pay such increased Base Rent during any such holdover period. Tenant shall indemnify, protect, defend and hold Landlord harmless from and against any and all Claims resulting from any holding over by Tenant, including any consequential damages arising out of any Claims against Landlord by any succeeding or prospective tenant and losses suffered by Landlord due to lost opportunities to lease any portion of the Premises to any succeeding or prospective tenant.
Appears in 1 contract
Samples: Lease Agreement (JMP Group LLC)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice may remain in possession of the date Premises after the Expiration Date of this Lease for a period of up to three months on which Tenant will vacate the Premises, same terms and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of conditions under the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed as exist on the Expiration Date (except that the value to Tenant of remaining in possession, Base Rental and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during Additional Rental for such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder month shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for Base Rental and Additional Rental in effect immediately prior to the entire PremisesExpiration Date), or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by so long as Tenant provides Landlord and paid by Tenant on a monthly basis and shall be payable on the first day written notice of such holdover period and at least six (6) months prior to the first day of each calendar month thereafter during such holdover period until the Premises have been vacatedExpiration Date. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Such notification from Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account have the effect of Tenant’s hold-over in extending the Premises after the expiration or prior termination term of the Lease Termfor the period set forth in the notification, subject to the aforesaid three (3) month limitation; providedif no length of the extension period is set forth in such notice, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any then such holdover extension shall be deemed to be for a tenancy at sufferance and not a tenancy at willperiod of three (3) months. In Aside from the foregoing, there shall be no event shall any holdover be deemed a permitted extension or renewal of this Lease by operation of law, and if Tenant remains in possession of the Premises after the termination of this Lease (as it may be extended pursuant to the first sentence of this Section 2.4) without written authorization executed by Landlord and Tenant, but with the acquiescence or consent of Landlord, Tenant shall be deemed to be occupying the Premises under a month-to-month periodic tenancy at a monthly rental equal to one hundred fifty (150%) percent of the Base Rental in effect during the last month of the Lease Term, plus all Additional Rental provided for in this Lease, and nothing contained herein shall be construed otherwise subject to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The all the covenants and provisions of this Section 22.1 expressly survive Lease insofar as the same are applicable to a month-to-month periodic tenancy. Landlord and Tenant agree that any such periodic tenancy may be terminated by thirty (30) days prior written notice by either party to the other party. If Tenant remains in possession after termination of this Lease (as it may be extended pursuant to the Lease first sentence of this Section 2.4) without Landlord's acquiescence or of Tenant’s right consent, Tenant thereupon shall be deemed a tenant-at-sufferance subject to possessionsummary eviction as provided by law.
Appears in 1 contract
Holding Over. 22.1 If, with Landlord’s express written consent, Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date on which Tenant will vacate of the Premisesexpiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such written consent, and that if (iv) all other payments shall continue under the terms of this Lease. If Tenant fails to surrender remains in possession of the Premises or any portion thereof at after the expiration or earlier termination of the Term without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed except that the value monthly rental shall be equal to Tenant (I) 150% of remaining Rent in possessioneffect during the last 30 days of the Term for the first 30 day period of the holdover, (II) 175% of Rent in effect during the last 30 days of the Term for the second 30 day period of the holdover, and (III) 200% of Rent in effect during the loss that will last 30 days of the Term for the third 30 day period of the holdover, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over (including, from and after 90 days after the end of the Term, consequential damages if Landlord has advised Tenant in writing in advance that a particular tenant has signed a new lease with Landlord for the Premises and any particular consequential damages that Landlord may incur or suffer under such new lease as a result thereofof Tenant’s holding over, far exceed including, without limitation, consequential damages that Landlord may incur or suffer by reason of Landlord’s inability to lease the Premises or deliver occupancy to such particular tenant). Tenant shall pay Base Rent and additional rent Tenant’s Share of Operating Expenses on a per diem basis at such monthly rental rate for each day that would have been payable had Tenant so retains possession. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Lease Term continued during such holdover periodPremises. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of the this Lease Term shall not result in a renewal or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision reinstatement of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Samples: Lease Agreement (Novavax Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of any portion of the date on which Tenant will vacate Premises after the termination or expiration of the respective Lease Term relating to such portion of the Premises, then Tenant shall, at Landlord’s election become a tenant at sufferance (and that if Tenant fails to surrender not a tenant at will) for such portion of the Premises or in which Tenant is holding over, such possession shall be subject to immediate termination by Landlord at any portion thereof at the expiration or earlier termination time, and all of the other terms and provisions of this Lease Term (excluding any expansion or upon Landlord’s re-entry following an Event of Default, then it will renewal option or other similar right or option) shall be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued applicable during such holdover period. Therefore, if except that Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof shall pay Landlord from time to time, upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Defaultdemand, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first thirty (1st30) and second (2nd) months days of such holdover, the greater of (i) holdover an amount equal to one hundred twenty-five percent (125%) of the fair market Base Rent payable by Tenant immediately prior to such holding over, and thereafter an amount equal to one hundred fifty percent (150% ) of the Base Rent payable by Tenant immediately prior to such holding over, computed on a per diem basis for each month or part thereof during such holding over for such portion of the Premises in which Tenant is holding over; provided, however, the holdover rent shall be calculated in full floor increments only so that if Tenant is only holding over in a portion of a particular floor, then the holdover rent shall be calculated based on the square footage of the entire floor. All other payments (including payment of Additional Rent) shall continue under the terms of this Lease. In addition, Tenant shall also be liable to Landlord for all direct and consequential damages which Landlord may suffer by reason Tenant’s failure to timely surrender the Premises; provided, however, as a condition of Tenant’s obligations under this Paragraph 19(f), Landlord shall give Tenant written notice of the existence of a prospective successor tenant for the entire Premises or any portion thereof, or the existence of any other matter which might give rise to a claim by Landlord for consequential damages, and Landlord’s reasonable estimate of the amount of such claim (to the extent such amount can reasonably be estimated by Landlord on the basis of information then available to Landlord) at least thirty (30) days prior to the date Landlord shall require Tenant’s surrender of the Premises, and Tenant shall not be responsible to Landlord for any consequential damages if Tenant shall surrender the Premises on or prior to one hundred twenty (120) days after the later of (i) delivery of such notice detailing the potential consequential damages (it being agreed, however, that Landlord does not need to identify the prospective tenant by name in its notice, and it being further agreed that such notice may be given prior to the scheduled expiration date of this Lease), or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, expiration or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision earlier termination of this Lease. No holding over by Tenant, whether with or without consent of Landlord’s acceptance of such rent , shall operate to extend this Lease except as otherwise expressly provided, and this Paragraph shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right be construed as consent for Tenant to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account retain possession of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionportion thereof.
Appears in 1 contract
Samples: Lease Agreement (Salesforce Com Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that shall, at the termination of this Lease by lapse of time or otherwise, yield up immediate possession to Landlord have substantial advance notice of the date on which with all repairs and maintenance required herein to be performed by Tenant will vacate the Premisescompleted. Should Tenant, and that if Tenant fails continue to surrender hold the Premises or any portion thereof at after the expiration or earlier termination of the Lease Term this Lease, or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered after reentry by Landlord without terminating this Lease, such holding over, unless otherwise agreed to by Landlord in writing, shall constitute and be construed as a result thereof, far exceed tenancy at sufferance and not a tenancy at will. Tenant shall have no right to notice under Official Code of Georgia Annotated §44-7-7 of the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event its tenancy, Tenant shall pay monthly installments of Default, then the rent payable by Tenant hereunder shall be increased Rent equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent monthly portion of Rent in effect as of the date of expiration or earlier termination for the entire Premisesfirst thirty (30) days of such holding over, or (ii) one hundred twentyfifty percent (150%) for the next thirty (30) days of such holding over, one hundred seventy-five percent (125175%) for the next thirty (30) days of the then fully escalated Base Rent and additional rentsuch holding over, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) thereafter, and subject to all of the fair market rent for the entire Premisesother terms, charges and expenses set forth herein except any right to renew this Lease or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until to expand the Premises have been vacated. Notwithstanding or any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict additional services. Tenant and shall also be liable to recover Landlord for all damagesdamage which Landlord suffers because of any holding over by Tenant, and Tenant shall save indemnify Landlord against all claims made by any other tenant or prospective tenant against Landlord resulting from delay by Landlord in delivering possession of the Premises to such other tenant or prospective tenant. No holding over by Tenant, whether with or without consent of Landlord, its agents shall operate to extend the Term except as otherwise expressly provided in a written agreement executed by both Landlord and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly Paragraph 18 shall survive the expiration or earlier termination of the Lease or of Tenant’s right to possessionthis Lease.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, because Landlord will require an extensive period to locate a replacement tenant and because Landlord plans its entire leasing and renovation program for the Building in reliance on its lease expiration dates. Tenant also acknowledges that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then this Lease and the rent payable by Tenant hereunder shall be increased to equal (1i) for each of during the first thirty (1st30) and second (2nd) months days of such holdoverholdover period, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market Base Rent, additional rent for and other sums that would have been payable pursuant to the entire Premises, or provisions of this Lease if the Lease Term had continued during such holdover period and (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market Base Rent, additional rent for and other sums that would have been payable pursuant to the entire Premises, or (y) two hundred percent (200%) provisions of this Lease if the then fully escalated Base Rent and additional rentLease Term had continued during such holdover period. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during 42 such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s 's acceptance of such rent shall not in any manner adversely affect Landlord’s 's other rights and remedies, including Landlord’s 's right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at tenancy-at-sufferance and not a tenancy-at-will or tenancy at willfrom month-to-month. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s 's consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender may remain in the Premises for a specified time period (up to one hundred eighty (180) days) following the Term expiration (the “Operational Extension”) by notifying Landlord of its intention prior to the Extension Notice Deadline (the “Operational Extension Option”). The Operational Extension will be under the same terms and conditions in effect during the immediately previous Term. In the event a holdover possession exceeds the Operational Extension, or in the event of any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry other holdover (including following an Event of Defaultearly termination by Tenant), then it such possession will be conclusively presumed that the value to Tenant month-to-month at a rate of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-twenty- five percent (125%) of Ground Rent at the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) time of the then fully escalated Base holdover, provided that any annual increases in Ground Rent and additional rentwill continue to occur as contemplated by Addendum 1, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed subject to termination by Landlord and paid by or Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than upon thirty (30) days’ notice to the other party at any time. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall During any holdover be deemed a permitted extension or renewal possession, all of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions other terms of this Lease (excluding any expansion or similar option or right) will be applicable and all other payments will continue. Subject to Section 22.1 expressly survive termination 33, if (a) Tenant has not vacated the Premises following the expiration of the Lease Term or the Operational Extension, as applicable; and (b) Landlord provides at least thirty (30) days’ notice of the amount of any of the following damages that Landlord will incur as a result of Tenant’s right failure to possessionvacate the Premises at the end of such thirty (30)-day period, then if Tenant fails to vacate before the later of (i) the expiration of the Term; (ii) the expiration of any Operational Extension; or (iii) thirty (30) days after receipt of such notice, Tenant will be liable to Landlord for the rental revenue actually lost by Landlord solely as a result of the holdover from an executed lease, and any amounts Landlord is required to pay to any new tenant solely as a result of the holdover, but Tenant will not be liable for any other indirect or consequential damages. No holding over by Xxxxxx, whether with or without consent of Landlord, will operate to extend this Lease except as otherwise expressly provided herein.
Appears in 1 contract
Samples: Ground Lease Agreement
Holding Over. 22.1 12.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, because Landlord will (a) require an extensive period to locate a replacement tenant, and (b) plan its entire leasing and renovation program for the Building in reliance on its lease expiration dates. Tenant also acknowledges that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, unless Landlord (in its discretion) consents to Tenant’s continued occupancy of the Premises, in which event such tenancy shall be on such terms and conditions as may be mutually agreed to by Landlord and Tenant, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i1) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month double the Base Rent, additional rent and other sums that would have been payable pursuant to the provisions of this Lease if the Lease Term had continued during such holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentperiod. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord Except as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Thereforeset forth below, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased continues to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in occupy the Premises after the expiration or other termination of this Lease or the termination of Tenant’s right of possession with respect to the Premises, such occupancy shall be that of a tenancy at sufferance. Tenant shall, throughout the entire holdover period, be subject to all the terms and provisions of this Lease (other than provisions relating to length of the Term) and shall pay for its use and occupancy an amount (on a per month basis without reduction for any partial months during any such holdover) equal to one hundred fifty percent (150%) of the Base Rent and one hundred percent (100%) of the additional Rent due under this Lease for the holdover period. Except as set forth below, no holding over by Tenant or payments of money by Tenant to Landlord after the expiration of the Term shall be construed to extend the Term or prevent Landlord from recovery of immediate possession of the Premises by summary proceedings or otherwise. Notwithstanding the foregoing provisions of this Section 40, if Tenant should find it necessary to hold over in the Premises, Tenant may give written notice (the “Hold Over Notice”) to Landlord that it intends to hold over. The Hold Over Notice must be delivered to Landlord not less than sixty (60) days prior to the expiration or termination of the Lease Term; providedTerm and must specify whether Tenant elects to hold over for thirty (30) days or sixty (60) days. If Tenant timely provides the Hold Over Notice, howeverTenant may hold over and continue to occupy the Premises for the period of time specified in the Hold Over Notice at the Rent for the Premises set forth in this Section 40. In the event that (i) Tenant does not timely provide Landlord with the Hold Over Notice, and Tenant continues to occupy the Premises after the expiration or termination of this Lease, or (ii) Tenant continues to occupy the Premises for longer than the 30 or 60-day time period specified in the Hold Over Notice, such occupancy shall be that of a tenancy at sufferance and Tenant shall be liable to Landlord for all identified direct and consequential damages shall be available only if the holdover persists for more than which Landlord may suffer by reason of any holding over by Tenant, provided Landlord has provided at least thirty (30) days. Any ’ prior written notice of such holdover shall be deemed to be a tenancy at sufferance identified direct and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionconsequential damages.
Appears in 1 contract
Samples: Absolute Lease Agreement (First Midwest Bancorp Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice agrees to vacate the Premises at the end of the date on which Term, and Landlord shall be entitled to the benefit of all summary proceedings to recover possession of the Premises at the end of the Term, as if statutory notice had been given. If Tenant will vacate remains in possession of the Premises after the expiration of the Term, such action shall not renew the Lease by operation of law and nothing herein shall be deemed as a consent by Landlord to Tenant’s remaining in the Premises, and that if . If Tenant fails to surrender vacate the Premises or as required, Landlord may for the first month of any portion thereof such holdover consider Tenant as either (i) a “Tenant-at-Will” liable for the payment of 150% of the Basic Rent payable at the expiration or earlier termination end of the Lease Term or upon Landlord’s re(ii) as a “Tenant-entry following Holding-Over” liable for an Event of Default, then it will be conclusively presumed that amount equal to the value to Tenant of remaining in possession, and the loss that will be suffered actual damages incurred by Landlord as a result thereofof Tenant’s holding over, far exceed including attorney’s fees, but excluding incidental, prospective and consequential damages, but in no event shall such amount be less than the Base amounts of (a) 150% of the Basic Rent payable at the end of the Term and additional rent that would have been payable had (b) the Lease Term continued during such holdover periodAdditional Rent reserved hereunder applicable to the period of the holdover. Therefore, if If Tenant (or anyone claiming through or under Tenant) does not immediately surrender fails to vacate the Premises or any portion thereof upon as required after the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal foregoing one (1) for each of the first (1st) and second (2nd) months of such holdovermonth period, the greater of Landlord may consider Tenant as either (i) one hundred twentya “Tenant-five percent (125%) at-Will” liable for the payment of 150% of the fair market rent for Basic Rent payable at the entire Premises, end of the Term or (ii) one hundred twentyas a “Tenant-five percent (125%) of Holding-Over” liable for an amount equal to the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed actual damages incurred by Landlord and paid by Tenant on as a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account result of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; providedholding over, howeverincluding, that without limitation, all incidental, prospective and consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In attorney’s fees, but in no event shall any holdover such amount be deemed a permitted extension or renewal less than the amounts of (a) 150% of the Lease TermBasic Rent payable at the end of the Term and (b) the Additional Rent reserved hereunder applicable to the period of the holdover. In any of the foregoing events, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions all other covenants of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionshall remain in full force and effect.
Appears in 1 contract
Samples: Crestpointe Corporate Center Standard Office Lease Agreement (Costar Group Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate desires to continue to use the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at part of the Premises, after the expiration or earlier termination of either the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision renewal of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which give Landlord may suffer on account ninety (90) days' prior written notice of Tenant’s 's intention to do so which notice shall specify the portion of the Premises with respect to which Tenant intends to hold- over (the "Hold-over Space"). If Tenant timely gives Landlord notice as aforesaid, Landlord shall give Tenant notice within ten (10) days of receipt of Tenants notice (i) specifying whether or not Landlord has previously executed a lease for all or a portion of the Hold-over Space and (ii) upon execution thereafter of a lease for all or a portion of any Hold-over Space specifying such Hold-over Space subject to lease. Tenant may hold-over in the Premises after the expiration or prior termination of the Lease Term; providedany Hold-over Space with respect to which Landlord has not executed a lease, howeverfor so long as Landlord shall not have executed a lease with respect thereto, that consequential damages provided that: (i) such tenancy shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall on a month-to-month basis and will not be deemed to be construed as a tenancy at sufferance and (ii) Tenant will pay Landlord monthly rent during such tenancy the same as the last month's rent of the expiring term, plus the allocable Real Estate Tax and Operating Cost Escalation applicable to the month in question. Such month-to-month tenancy shall not exceed six (6) months in duration (the "Maximum Hold-over Period"). Landlord may not evict Tenant from the Hold-over Space during the Maximum Hold-over Period. Tenant may not hold-over in any Hold-over Space with respect to which Landlord has executed a tenancy at willlease and Tenant must surrender such Hold-over Space in accordance with this Lease. In no event If Tenant should hold-over without the right to do so as provided herein, Tenant shall any holdover be deemed a permitted extension or renewal responsible for monthly, the Base Rent equal to one and one-half (1 1/2) times the monthly installment of the Base Rent for the last full month of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Samples: Lease Agreement (Modus Media International Holdings Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the Base Rent that would have been payable pursuant to the provisions of this Lease if the Lease Term had continued during such holdover period; provided, however, that if Tenant delivers written notice to Landlord at least ninety (90) days prior to the expiration of the Term that it wishes to continue to occupy the Premises, then damages shall be waived for the first thirty (30) days of holdover and the rent payable by Tenant hereunder shall be increased to the following percentages of the Base Rent that would have been payable pursuant to the provisions of this Lease if the Lease Term had continued during such holdover period: for the first thirty (30) days; for the thirty-first (1st31st) and second through ninetieth (2nd90th) months days of such holdover, ; and thereafter. In any cases under this Section 22.1 Tenant shall continue to pay of additional rent and other sums that would have been payable pursuant to the greater provisions of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentthis Lease. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s 's acceptance of such rent shall not in any manner adversely affect Landlord’s 's other rights and remedies, including Landlord’s 's right to evict Tenant and and, except as provided above, to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance tenancy‑at‑sufferance and not a tenancy‑at‑will or tenancy at willfrom month‑to‑month. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s 's consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Samples: Office Lease Agreement (Alliance Data Systems Corp)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or upon earlier termination thereof, with or without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the Base and in such case, Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased payable at a monthly rate equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent Rent applicable during the last rental period of the Lease Term under this Lease for the entire Premises, or first sixty (ii60) days of such holding over and thereafter equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, applicable during the greater of (x) two hundred percent (200%) last rental period of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentLease Term under this Lease. Such rent month-to-month tenancy shall be computed by Landlord subject to every other applicable term, covenant and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacatedagreement contained herein. Notwithstanding any other provision For purposes of this LeaseArticle 16, Landlord’s acceptance of such rent a holding over shall not in any manner adversely affect Landlord’s other rights and remediesinclude, including Landlord’s right to evict Tenant and to recover all damageswithout limitation, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of (i) Tenant’s hold-over 's remaining in the Premises after the expiration or prior earlier termination of the Lease Term; provided, howeveras required pursuant to the terms of Section 8.5, that consequential damages shall be available only if above, to remove any Alterations or improvements located within the holdover persists for more than thirty Premises and replace the same as requested by Landlord with Building standard improvements, or (30ii) daysTenant's failure to remove items and restore the Premises as required in Article 15, above. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing Nothing contained herein in this Article 16 shall be construed to constitute Landlord’s as consent by Landlord to any holdover holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or to give Tenant any right with respect theretoother termination of this Lease. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If, after the termination or expiration of this Lease, Tenant fails to surrender the Premises within five (5) days following written notice from Landlord , in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such failure, including, without limiting the generality of the Lease or of Tenant’s right foregoing, any claims made by any succeeding tenant founded upon such failure to possessionsurrender and any lost profits to Landlord resulting therefrom.
Appears in 1 contract
Samples: Office Lease (Navarre Corp /Mn/)
Holding Over. 22.1 2.2.1 Tenant acknowledges that it is extremely important that Landlord shall have substantial advance notice the one-time right to retain occupancy of the date on which Premises for a period designated by Tenant will vacate in its Holdover Notice (as defined below) following the expiration of the Term, but in any event not to exceed thirty (30) days; provided that (i) no monetary or material non-monetary Event of Default has occurred and is continuing, and (ii) Tenant shall have delivered written notice (a “Holdover Notice”) to Landlord of Tenant’s intention to hold over at least six (6) months prior to the expiration of the Term (a “Permitted Holdover”). In the event that Tenant retains occupancy of the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at part thereof, after the expiration or earlier termination end of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionTerm, and EAST\126610515.10 the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of conditions in clauses (i) and (ii) above have not been satisfied, or if Tenant retains occupancy of the Premises beyond the period of a Permitted Holdover (in either case, an “Unpermitted Holdover”), Tenant's occupancy of the Premises shall be as a tenant at sufferance terminable at any time by Landlord. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that Tenant shall pay Landlord Base Rent for such time as Tenant remains in possession of the Premises (A) in the case of a Permitted Holdover, at a monthly rate equal to one hundred twenty-five percent (125%) of the fair market rent Base Rent payable during the last month of the Lease Term for the entire Premisesfirst thirty (30) days of such holding over, and (B) following such initial thirty (30) day period of said Permitted Holdover, or (ii) in the case of an Unpermitted Holdover, at a monthly rate equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and (2) for each payable during the last month of holdover thereafterthe Lease Term, in each case together with all Additional Rent at the greater same rates as otherwise due and payable under this Lease. In addition, in the event of (x) two hundred percent (200%) an Unpermitted Holdover, or in the event that Tenant holds over beyond the period of a Permitted Holdover, Tenant shall be liable to Landlord for all damages sustained by reason of Tenant’s retention of possession of the fair market rent for Premises after the entire Premises, or (y) two hundred percent (200%) end of the then fully escalated Base Rent Term, including without limitation consequential damages or indirect damages; it being expressly understood and additional rent. Such rent agreed that Tenant shall not be computed by Landlord and paid by Tenant liable for any damages on a monthly basis and shall be payable on the first day account of such holdover period and by Tenant during the first day of each calendar month thereafter during Permitted Holdover, whether they be direct, indirect or consequential, except for such holdover period until direct damages as provided for in Section 2.2.2 below, Tenant hereby acknowledging that Landlord may need the Premises have been vacated. Notwithstanding any after the end of the Term for other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights tenants and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all that the damages which Landlord may suffer on account as the result of Tenant’s hold-holding over in the Premises after the expiration or prior termination cannot be determined as of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoExecution Date. The provisions hereof do not limit or restrict Landlord’s rights or remedies under this Lease in the event of this Section 22.1 expressly survive termination of the Lease or of any holding over by Tenant (but subject to Tenant’s right to possessiona Permitted Holdover, as set forth above).
Appears in 1 contract
Samples: Everbridge, Inc.
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or upon with the express written consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will shall not constitute a renewal hereof or an extension for any further term, and in such case Base Rent shall be suffered by Landlord as payable at a result thereof, far exceed monthly rate of one hundred fifty percent (150%) of the Base Rent and additional rent that would have been payable had applicable during the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination last rental period of the Lease Term under this Lease. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease (calculated on a per diem basis). Notwithstanding the foregoing, Tenant shall have the one-time right, upon Landlord’s re-entry following an Event notice (the "Holdover Notice") to Landlord not less than six (6) months prior to the expiration of Defaultthe Lease Term, then to extend the rent Lease Term for a period of up to three (3) months (which period shall be set forth in the Holdover Notice) (the "Permitted Holdover Term"), in which case the Base Rent payable by Tenant hereunder during such Permitted Holdover Term shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (ia) one hundred twenty-five percent (125%) of the fair market rent Base Rent applicable during the last rental period of the Lease Term under this Lease for the entire Premisesfirst month of any such Permitted Holdover Term, or and (iib) one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rentapplicable during the last rental period of the Lease Term under this Lease for the second and/or third months of any such Permitted Holdover Term. Except with respect to the Permitted Holdover Term, nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and (2) for each month of holdover thereafter, Landlord expressly reserves the greater of (x) two hundred percent (200%) right to require Tenant to vacate and deliver possession of the fair market Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord's express written consent, and tenders payment of rent for any period beyond the entire Premisesexpiration of the Lease Term by way of check (whether directly to Landlord, its agents, or (yto a lock box) two hundred percent (200%) or wire transfer, Tenant acknowledges and agrees that the cashing of the then fully escalated Base Rent and additional rent. Such rent such check or acceptance of such wire shall be computed by considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until deliver the Premises have been vacated. Notwithstanding any other provision upon the termination or expiration of this Lease, Landlord’s acceptance of such rent shall not in addition to any manner adversely affect Landlord’s other rights and remediesliabilities to Landlord accruing therefrom, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlordprotect, its agents defend, indemnify and employees, hold Landlord harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against all claims made by any succeeding tenant founded upon such failure to vacate and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Lease Term; providedPremises, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension whether before or renewal after expiration of the Lease Term, and nothing contained herein shall be construed considered an action to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions enforce the terms of this Section 22.1 expressly survive termination Lease for purposes of the Lease or awarding of Tenantany attorney’s right to possessionfees in connection therewith.
Appears in 1 contract
Samples: Office Lease (DermTech, Inc.)
Holding Over. 22.1 If, with Landlord’s express written consent, Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date on which Tenant will vacate of the Premisesexpiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such written consent, and that if (iv) all ActiveUS 183164559v.14 000 Xxxxxxx Xxxxxx (AOTC) / WEREWOLF THERAPEUTICS, INC. - Page 11 other payments shall continue under the terms of this Lease. If Tenant fails to surrender remains in possession of the Premises or any portion thereof at after the expiration or earlier termination of the Lease Term or without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon Landlord’s re-entry following an Event the terms of Defaultthis Lease, then it will be conclusively presumed including the obligation to pay 100% of all Additional Rent due under this Lease, except that the value monthly Base Rent shall be equal to Tenant 150% of remaining the Base Rent in possessioneffect during the last 30 days of the Term, and the loss that will (B) Tenant shall be responsible for all damages suffered by Landlord as resulting from or occasioned by Tenant’s holding over, including consequential damages; provided that, unless Landlord gave written notice to Tenant at least 30 days before the expiration of the Term that a result thereof, far exceed the Base Rent and additional rent that subsequent tenant would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender be leasing the Premises or any portion part thereof upon and that Landlord reasonably anticipates holding over is reasonably likely to impact Landlord’s delivery schedule to such new tenant, Tenant shall be responsible for consequential damages only once Tenant’s holding over exceeds 30 days. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or earlier termination of the this Lease Term shall not result in a renewal or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision reinstatement of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice will, at the expiration or termination of this Lease by lapse of time or otherwise, yield up immediate possession of the date on which Premises to Landlord in the condition required under this Lease. If Tenant will vacate the Premises, and that if Tenant fails to surrender retains possession of the Premises or any portion part thereof at the after such expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Defaulttermination, then it will be conclusively presumed Landlord may, at its option, serve written notice upon Tenant that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of holding over constitutes (i) one hundred twentycreation of a month-five percent (125%) of to-month tenancy, upon the fair market rent for the entire Premisesterms and conditions set forth in this Lease, or (ii) one hundred twenty-five percent (125%) creation of a tenancy at sufferance, upon the then fully escalated Base Rent terms and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of conditions set forth in this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages the monthly Rent (or daily Rent under (ii)) shall, in addition to all other sums which are to be paid by Tenant hereunder, be equal to one hundred ten percent (110%) of the sum of Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) on the basis of a 365 day year for each day Tenant remains in possession); provided further that, if Landlord shall be available only if institute any action, case or suit to recover possession of the holdover persists Premises (whether styled as an unlawful detainer action or otherwise), the monthly Rent (or daily Rent under (ii)) payable pursuant to the preceding sentence shall increase, effective as of the date on which such action, case or suit is filed with the court, to one hundred fifty percent (150%) of the sum of Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) on the basis of a 365 day year for more than thirty (30) dayseach day Tenant remains in possession). Any If no such holdover notice is served, then a tenancy at sufferance shall be deemed to be a tenancy created at sufferance and not a tenancy at willthe Rent in the preceding sentence. In no event Tenant shall also pay to Landlord as Additional Rent all damages sustained by Landlord resulting from retention of possession by Tenant, including the loss of any holdover be deemed a permitted extension or renewal proposed subsequent tenant for any portion of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoPremises. The provisions of this Section 22.1 expressly survive termination shall not constitute a waiver by Landlord of any right of re-entry as herein set forth; nor shall receipt of any Rent or any other act in apparent affirmance of the Lease or tenancy operate as a waiver of Tenant’s Landlord's right to possessionterminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant's part to be performed.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that shall pay Landlord have substantial advance notice for each day Tenant retains possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof part of them after termination of this Lease by lapse of time or otherwise at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant rate (or anyone claiming through or under Tenant“Holdover Rate”) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder which shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) during the first sixty (60) days of such holding over, one hundred twenty-five percent (125%) of the fair market rent amount of Annual Rent for the entire Premiseslast period prior to the date of such termination plus Tenant’s Proportionate Share of Expenses, or Taxes and Insurance Costs under Article 4, (ii) commencing as of the sixty-first (61st) day of such holding over, one hundred twenty-five fifty percent (125150%) of the then fully escalated Base amount of Annual Rent for the last period prior to the date of such termination plus Tenant’s Proportionate Share of Expenses, Taxes and additional rentInsurance Costs under Article 4, and (2iii) for each month commencing as of holdover thereafterthe ninety-first (91st) day of such holding over, the greater of (x) two hundred percent (200%) of the fair market rent amount of Annual Rent for the entire last period prior to the date of such termination plus Tenant’s Proportionate Share of Expenses, Taxes and Insurance Costs under Article 4, prorated on a daily basis. In addition to the payment of the amounts provided above, if Tenant fails to vacate the Premises within fifteen (15) days after Landlord notifies Tenant that Landlord has entered into a lease for the Premises or has received a bona fide offer to lease the Premises, and that Landlord will be unable to deliver possession, or (y) two hundred percent (200%) of the perform improvements, due to Tenant’s holdover, then fully escalated Base Rent and additional rent. Such rent Tenant shall be computed by liable to Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover for all damages, and Tenant shall save Landlordincluding, its agents and employeeswithout limitation, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, howeverconsequential damages, that consequential damages Landlord suffers from the holdover. If Landlord gives notice to Tenant of Landlord’s election to such effect, such holding over shall be available only constitute renewal of this Lease for a period from month to month at the Holdover Rate, but if the holdover persists for more than thirty (30) days. Any Landlord does not so elect, no such holdover renewal shall result notwithstanding acceptance by Landlord of any sums due hereunder after such termination; and instead, a tenancy at sufferance at the Holdover Rate shall be deemed to be a tenancy at sufferance and not a tenancy at willhave been created. In any event, no event provision of this Article 14 shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute waive Landlord’s consent to right of reentry or any holdover or to give Tenant any other right with respect thereto. The provisions of under this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionat law.
Appears in 1 contract
Samples: Lease (Ellipse Technologies Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice Sublessor hereby advises Subtenant of, and ----------- Subtenant acknowledges, the importance to Sublessor of regaining possession of the date on which Tenant will Subleased Premises promptly at the expiration of this Sublease. Therefore, in the event Subtenant shall fail to vacate the Premises, and that if Tenant fails to surrender the Subleased Premises or any portion thereof at the expiration or earlier termination of this Sublease without having obtained Sublessor's prior written approval, or if Subtenant shall hold over with Sublessor's approval and subsequently shall fail to vacate the Lease Term Subleased Premises within five (5) days after receipt of Sublessor's notice to vacate the Subleased Premises, then, in either such event, Sublessor, at its option, (and without any way limiting or upon Landlord’s abridging Sublessor's other remedies hereunder) shall have the right to re-entry following an Event enter forthwith and take possession of Default, then it will be conclusively presumed that the value Subleased Premised without process or to Tenant institute proceedings for the eviction or removal of remaining in possession, Subtenant and the loss that will recovery of possession of the Subleased Premises. In addition, at Sublessor's option, Subtenant's holding over shall be suffered by Landlord construed as a result thereofmonth-by-month tenancy subject to all the terms, far exceed the Base conditions and obligations set forth in this Sublease, except that Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder Subtenant shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) the total of the fair market all Base Rent and all additional rent payable by Sublessor for the entire Premises, Main Premises during Subtenant's period of holding over; or (ii) one hundred twenty-five percent (125%) of twice the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises that would have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of payable with respect to such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in period under this Sublease during the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Samples: Ashton Technology Group Inc
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that (or any person holding under or through Tenant) fails to vacate and surrender the Demised Premises to Landlord have substantial advance as required hereunder upon the termination or expiration of the Term, such holding over shall be, except as Landlord may elect pursuant to the next sentence, as a tenant at sufferance (requiring 30 days’ notice of termination by either party to the date on which Tenant will vacate other) at a monthly fixed rent (“Holdover Rent”) equal to (i) 125% (for the Premisesfirst thirty (30) days of any such holdover), (ii) 150% (for the next thirty (30) days of any such holdover), and that (iii) thereafter, 200% of the greater of the Yearly Fixed Rent due hereunder for the last month of the Term or the rent being quoted by Landlord for comparable space in the Building at the time of the termination or expiration of the Term, and otherwise subject to all the covenants and conditions (including obligations to pay Additional Rent under Sections 6.2 and 6.3) of this Lease as though it had originally been a monthly tenancy. Notwithstanding the foregoing, if Landlord desires to regain possession of the Demised Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Demised Premises or any part thereof without process or by any legal process in force in The Commonwealth of Massachusetts. Notwithstanding the establishment of any holdover tenancy following the expiration or earlier termination of the Term, if Tenant fails promptly to surrender vacate the Demised Premises or any portion thereof at the expiration or earlier termination of the Lease Term Term, Tenant shall save Landlord harmless and indemnified against any claim, loss, cost or expense (including reasonable attorneys’ fees) arising out of Tenant’s failure promptly to vacate the Demised Premises (or any portion thereof) and upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value demand pay to Tenant of remaining in possession, and the Landlord any damages or loss that will be suffered incurred by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (of any delayed or anyone claiming through terminated lease of all or under Tenant) does not immediately surrender part of the Premises by another party. EXHIBIT G REQUESTING OVERTIME HVAC General Information: Overtime HVAC is defined as heating or any portion thereof upon cooling after Business Hours. Business Hours for Riverfront Office Park are Monday through Friday 8AM to 6PM and Saturday 8AM to 12PM, Commonwealth of Massachusetts holidays excluded. A list of Tenant-authorized requestors shall be on file at the expiration or earlier termination Management Office, and Security Lobby Desk. It is the responsibility of the Lease Term or upon Landlord’s reTenant to maintain a current list and submit that list to Hines Management. Hines has provided a Heat Pump Location guide that should be distributed to each Tenant-entry following an Event of Default, then the rent payable by Tenant hereunder shall approved requestor. Requestors should be increased prepared to equal (1) reference this location guide when making a request for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentovertime HVAC. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision Additional copies of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord map may suffer on account of Tenant’s hold-over in be obtained through the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists Management Office. Procedures for more than thirty (30) days. Any such holdover shall be deemed to be making a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.request: DURING BUSINESS HOURS
Appears in 1 contract
Samples: Agreement of Lease (Pegasystems Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice shall, without the written consent of Landlord, hold over and not yield up immediate possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will be conclusively presumed that the value to Tenant of remaining in possessionLandlord may, and the loss that will be suffered by Landlord as a result thereofat its option, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof serve written notice upon the expiration or earlier termination Tenant that such holding over constitutes any one of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of following: (i) one hundred twentycreation of a month-five percent (125%) of the fair market rent for the entire Premisesto-month tenancy, or (ii) creation of a tenancy at sufferance; in any case, upon the terms and conditions set forth in this Lease except that the monthly Rent (or daily Rent under (ii) above) shall, in addition to all other sums which are to be paid by the Tenant hereunder, whether or not as Additional Rent, be equal to (A) for the first thirty (30) days of such holding over, one hundred twenty-five fifty percent (125150%) of the then fully escalated Base sum of the Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) above on the basis of a three hundred sixty-five (365) day year for each day the Tenant remains in possession in the same manner as provided in the Lease for the payment of Rent and additional rentAdditional Rent), and (2B) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent sum of the Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) above on the basis of a three hundred sixty-five (365) day year for each day the Tenant remains in possession in the same manner as provided in the Lease for the entire Premises, or (y) two hundred percent (200%) payment of the then fully escalated Base Rent and additional rentAdditional Rent), and if no such notice is served, then a tenancy at sufferance be deemed created. Such rent shall be computed In the case of a holdover which has been consented to by Landlord, unless otherwise agreed to in writing by Landlord and paid Tenant, Tenant shall give to Landlord thirty (30) days prior written notice of any intention to quit the Premises, and Tenant shall be entitled to thirty (30) days prior written notice to quit the Premises, except in the event of non-payment of Rent or Additional Rent when due or the breach of any other covenant or the existence of a default. Tenant shall be liable to Landlord for all damages which Landlord suffers because of any holding over by Tenant on which exceeds thirty (30) days, and Tenant shall indemnify, defend and hold Landlord harmless from and against all claims (including actual and opportunity costs and attorney fees and costs) resulting from Tenant’s retention of possession, including any claim from any tenant or prospective tenant against Landlord. The provisions of this section shall not constitute a monthly basis and waiver by Landlord of any right of re-entry as provided herein nor shall be payable on the first day receipt of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any Rent or Additional Rent or any other provision apparent affirmance of this Lease, Landlord’s acceptance the tenancy operate as a waiver of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and terminate this Lease for a breach of any terms, covenants or obligation contained in this Lease on the Tenant’s part to recover all damagesbe performed. Additionally, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and be liable for all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists Tenant holds over for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute days following Landlord’s consent delivery of a written notice to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionvacate.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that does not surrender to Landlord have substantial advance notice possession of the date Premises in substantially the condition required by Section 8 and Section 11 (the “Surrender Condition”) on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at before the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will Landlord may deem Tenant to be conclusively presumed that occupying the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord Premises as a result thereoftenant from month-to-month, far exceed the Base Rent and additional rent that would have been at a monthly rental, payable had the Lease Term continued during such holdover period. Thereforeon a per diem basis, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal to: (1) for each [redacted] of the first (1st) and second (2nd) months of such holdover, Monthly Base Rate in effect for the greater of (i) one hundred twenty-five percent (125%) last full month of the fair market rent Term for the entire Premises, or (ii) one hundred twenty-five percent (125%) first [redacted] of the then fully escalated Base Rent and additional rentany such holding over, and (2) for each [redacted] of the Monthly Base Rent in effect the last full month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent Term for the entire Premisesremaining period of any such holding over, or (y) two hundred percent (200%) of and subject to all the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision provisions of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remediesLease as applicable or adjusted to a month-to-month tenancy, including LandlordTenant’s right obligation to evict Tenant pay Additional Rent for Tenant’s Share of Increases in Operating Expenses and to recover all damages, and Tenant’s Share of Increases in Real Estate Tax Expenses. If Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-hold over in the Premises after the expiration or prior termination of the Lease Term; providedTerm or extension period thereof, however, that consequential damages and if Landlord shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed desire to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal regain possession of the Lease TermPremises promptly at the expiration of the Term or extension period thereof, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The then notwithstanding the foregoing provisions of this Section 22.1 expressly survive termination 25, Landlord, at its option, may forthwith reenter and take possession of the Premises by any legal process in effect in the jurisdiction in which the Building is located, and Landlord may exercise any other remedies it has under this Lease or at law or in equity, including an action for wrongfully holding over. If Tenant surrenders possession of the Premises, but not substantially in the condition required by Section 8 and Section 11 (the “Surrender Condition”), and such failure continues for ten (10) days after Tenant’s right to possession.receipt of written notice from Landlord, then Landlord shall have the rights set forth in Section 11.B.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or upon Tenn without the express prior written consent of Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value Tenant shall become a tenant at sufferance only, at a rental rate equal to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair then-current market rent rents for the entire PremisesPremises as determined by Landlord in its sole discretion, or (ii) one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent in effect on the date of the expiration or earlier termination (subject to adjustment as provided in Sections 5 and additional rent6 and prorated on a daily basis), and (2) for each month of holdover thereafterotherwise subject to the terms, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premisescovenants, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision conditions of this Lease, Landlord’s acceptance so far as applicable. Acceptance by Landlord of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises Rent after the expiration or prior earlier termination shall not result in a renewal of this Lease and shall not waive Landlord's right to bring an unlawful detainer action against Tenant or otherwise remove Tenant from the Premises. If Tenant fails to surrender the Premises on the expiration of this Lease despite demand to do so by Landlord, then Tenant shall indemnify, defend, and hold Landlord harmless from all loss or liability, including, without limitation, any claim made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. If (i) Landlord delivers written notice to Tenant that Landlord has entered into a lease of, or is in active negotiations of a letter of intent to lease, all or any portion of the Premises; (ii) Tenant fails to vacate the Premises after expiration or earlier termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than within thirty (30) days. Any such days after Landlord delivers written notice to Tenant of the lease or negotiations of a letter of intent to lease; and (iii) Tenant's holdover beyond that thirty (30)-day period prevents, delays, or hinders Landlord's timely preparation or delivery of the Premises, or any portion of the Premises, for occupancy by another tenant, then Tenant shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal liable for all of the Lease TermLandlord's Damages, and nothing contained herein shall be construed to constitute Landlord’s consent to if any, resulting from any holdover or to give Tenant any right with respect thereto. The provisions occupancy after the expiration of this thirty (30)-day period, AND TENANT SHALL INDEMNIFY AND DEFEND THE LANDLORD PARTIES AGAINST ANY AND ALL CLAIMS ARISING FROM TENANT'S FAILURE TO TIMELY VACATE THE PREMISES, and any limitation on, or exculpation from, any liability or Damages elsewhere in this Lease shall not apply to Tenant's duties to indemnify and defend Landlord under this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession34.
Appears in 1 contract
Holding Over. 22.1 (a) Except as provided in Section 7.7(b) below, in the event of holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the after expiration or earlier termination of this Lease without the Lease Term or upon written consent of Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) deemed a tenant at will and shall pay for each of the first (1st) and second (2nd) months of entire hold over period as rent, solely for such holdoverholding over, the greater sum of (i) one hundred twentyseventy-five percent (125175%) of the fair market rent for the entire PremisesBase Rental payable by Tenant immediately prior to such termination or expiration, or plus (ii) one hundred twentyseventy-five percent (125175%) of the then fully escalated Base Rent and additional rentTenant's Additional Rental payable by Tenant during Lease Year 1, and plus (2iii) for each month of holdover thereafter, the greater of (x) two one hundred percent (200100%) of the fair market rent for the entire Premisesdifference between (x) Tenant's Additional Rental payable by Tenant during Lease Year 1, or and (y) two that Tenant's Additional Rental payable by Tenant under Section 2.3 for the holdover period as if the Lease had not been terminated or expired, plus (iv) one hundred percent (200100%) of all Rent other than Base Rental and Tenant's Additional Rental that would have been payable if this Lease had not so terminated or expired. No holding over by Tenant after the then fully escalated Base Rent and additional rent. Such rent Term shall be computed construed to extend the term of this Lease. In the event of any unauthorized holding over, Tenant shall indemnify Landlord against (i) all claims for damages by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision tenant to whom Landlord shall have leased all or any part of the Leased Premises effective upon the termination of this Lease, Landlord’s acceptance and (ii) all other losses, costs and expenses, including attorneys' fees, incurred by Landlord by reason of such rent holding over. Any holding over with the express written consent of Landlord shall not in any manner adversely affect Landlord’s other rights and remediesthereafter constitute this Lease to be a lease from month to month (unless such written consent specifies otherwise) at a Base Rental, including Landlord’s right to evict Tenant and to recover all damagesTenant's Forecast Additional Rental, Tenant's Additional Rental Adjustment, and all other sums required to be paid by Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after prior to the expiration or prior termination of the this Lease Term; provided, however, that consequential damages shall as may be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute determined by Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at Any holding over after the expiration or earlier other termination of this Lease with the Lease Term or upon Landlord’s re-entry following an Event written consent of Default, then it will be conclusively presumed that the value Landlord delivered to Tenant of remaining in possession, and the loss that will shall be suffered by Landlord as construed to be a result thereof, far exceed tenancy from month to month at the Base Rent in effect on the date of such expiration or termination on the terms, covenants and additional rent that would have been payable had the Lease Term continued during such holdover periodconditions herein specified so far as applicable. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon Any holding over after the expiration or earlier other termination of this Lease without the Lease Term or upon Landlord’s re-entry following an Event written consent of Default, then the rent payable by Tenant hereunder Landlord shall be increased construed to be a tenancy at sufferance on all the terms set forth herein, except that Base Rent shall be equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) to one hundred twenty-twenty five percent (125%) of the fair market rent Base Rent payable by Tenant immediately prior to such holding over for the entire Premises, or first thirty (ii30) days of such holding over and one hundred twenty-five percent fifty (125150%) thereafter. Acceptance by Landlord of Rent after the expiration or termination of this Lease shall not constitute a consent by Landlord to any such tenancy from month to month or result in any other tenancy or any renewal of the then fully escalated Base Rent and additional rentterm hereof. Tenant acknowledges that if Tenant holds over without Landlord’s consent, and (2) for each month of holdover thereaftersuch holding over may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the Premises. Therefore, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by if Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until fails to surrender the Premises have been vacated. Notwithstanding any upon the expiration or other provision termination of this Lease, Landlord’s acceptance of such rent shall not then, in addition to any manner adversely affect Landlord’s other rights and remediesliabilities to Landlord accruing therefrom, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlordprotect, its agents defend, indemnify and employeeshold Landlord harmless from all Losses resulting from such failure, harmless and will exonerateincluding, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in without limiting the Premises after the expiration or prior termination generality of the Lease Termforegoing, any claims made by any succeeding tenant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom; provided, however, that consequential damages Tenant’s obligations to indemnify and hold Landlord harmless with respect to such claims shall be available only if the holdover persists for more conditioned upon Landlord providing Tenant with not less than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal days prior written notice of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent entry into a lease or other agreement that will give rise to any holdover or to give Tenant any right with respect theretosuch claims. The provisions of this Section 22.1 expressly survive termination of the Lease or of TenantParagraph are in addition to, and do not affect, Landlord’s right to possessionreentry or other rights hereunder or provided by law.
Appears in 1 contract
Samples: Freshworks Inc.
Holding Over. 22.1 Except for any permitted occupancy by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premisesunder Article VIII, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of this Lease, occupancy of the Premises after the termination or expiration shall be that of a tenancy at sufferance. Tenant's occupancy of the Premises during the holdover shall be subject to all the terms and provisions of this Lease Term or upon Landlord’s re-entry following and Tenant shall pay an Event amount (on a per month basis without reduction for partial months during the holdover) equal to 125% of Default, then it will be conclusively presumed that the value to Tenant greater of: (1) the sum of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had Additional Rent due for the Lease Term continued during such holdover period. Therefore, if Tenant period immediately preceding the holdover; or (or anyone claiming through or under Tenant2) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent gross rental for the entire PremisesPremises as reasonably determined by Landlord. Notwithstanding the foregoing, or (ii) one hundred twenty-five percent (125%) if such holding over continues for more than 30 days, effective as of the then fully escalated 31/st/ day, holdover rent shall increase to 150% of the greater of: (a) the sum of the Base Rent and additional rent, and Additional Rent due for the period immediately preceding the holdover; or (2b) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent gross rental for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentPremises as reasonably determined by Landlord. Such rent shall be computed by Landlord and paid No holdover by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict or payment by Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior early termination of the this Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. In addition to any holdover the payment of the amounts provided above, if Landlord is unable to deliver possession of the Premises to a new tenant, or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or perform improvements for a new tenant, as a result of Tenant’s right 's holdover and Tenant fails to vacate the Premises within 30 days after Landlord notifies Tenant of Landlord's inability to deliver possession, or perform improvements, Tenant shall be liable to Landlord for all damages, including, without limitation, consequential damages, that Landlord suffers from the holdover.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of the date on which Tenant will vacate Premises after the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term (or upon Landlord’s re-entry following an Event of Defaultany extension terms thereof), then it will unless otherwise agreed in writing, such possession shall be conclusively presumed that the value subject to Tenant of remaining in possessionimmediate termination by Landlord at any time, and all of the loss other terms and provisions of this Lease (excluding any expansion or renewal option or other similar right or option) shall be applicable during such holdover period, except that will (a) for the first month Tenant is a holdover Tenant, Tenant shall pay Landlord, upon demand, as Base Rent for such holdover period, an amount equal to 125 percent of the Base Rent in effect on the termination date, and (b) for the second month and any additional month thereafter that Tenant is in holdover, Tenant shall pay Landlord, upon demand, as Base Rent for such holdover period, an amount equal to 150 percent of the Base Rent in effect on the termination date, computed on a monthly basis for each month or part thereof during such holding over. All other payments shall continue under the terms of this Lease. In addition, Tenant shall be suffered liable for all damages incurred by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Termholding over; provided, however, that consequential damages Landlord provides Tenant with written notice that Landlord is in negotiations with another prospective tenant, and Tenant fails to thereafter surrender the Premises in accordance with this Lease on, or prior to, the date identified in Landlord’s notice. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Paragraph 22 shall not be available only if the holdover persists construed as consent for more than thirty (30) days. Any such holdover shall be deemed Tenant to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal retain possession of the Lease TermPremises. For purposes of this Paragraph 22, “possession of the Premises” shall continue until, among other things, Tenant has delivered all keys to the Premises to Landlord, Landlord has complete and total dominion and control over the Premises, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions has completely fulfilled all obligations required of this Section 22.1 expressly survive it upon termination of the Lease or as set forth in this Lease, including, without limitation, those concerning the condition and repair of Tenant’s right to possessionthe Premises.
Appears in 1 contract
Samples: Lease Agreement (Systemax Inc)
Holding Over. 22.1 Any failure by Tenant acknowledges to surrender possession of any individual Property by the expiration or sooner termination of this Agreement shall be treated as a daily tenancy at sufferance as to that Property which Tenant shall be holding over at a daily rate equal to the Holdover Factor multiplied by the Minimum Rent allocable to such Property divided by 365, with such allocation being determined based on the EBITDAR for such Property as a percentage of EBITDAR for all Properties, as reflected in the most recent statements provided by Tenant in accordance with Section 17.2 (if Tenant has provided them on a property-by-property basis), and, otherwise, the Minimum Rent allocable to such Property as reasonably determined by Landlord. The “Holdover Factor” shall be 1.1 for the first thirty (30) days of such failure, and 1.25 for the thirty-first (31st) through sixtieth (60th) days of such failure; and the Holdover Factor shall increase by 0.15 for each subsequent 30-day period of any holding over but the Factor shall never exceed 2 (i.e. shall not exceed 200%). Tenant shall also pay to Landlord all Additional Charges attributable to each such Property during such holding over, and all reasonable out of pocket costs and expenses, if any, actually incurred by Landlord by reason of any such holding over. Otherwise, such holding over shall be on the terms and conditions set forth in this Agreement, to the extent applicable. In addition, if (x) any such holding over shall apply to more than twenty percent (20%) of all of the Properties, rounded to the nearest whole number, or shall exceed six (6) months as to any one or more of the Properties and (y) Landlord shall give Notice to Tenant that it has entered into a lease or other agreement relating to activity at any such Property (either individually or with any other Property) with any Entity which is extremely important not an Affiliated Person of Landlord, Tenant shall indemnify Landlord from all loss, cost or liability it shall incur due to any inability of Landlord to deliver possession of any such Property per such lease or other contract due to Tenant’s holdover, provided that Tenant shall have the right to control the defense of any claim for which it is providing indemnification. Nothing contained herein shall constitute the consent, express or implied, of Landlord have substantial advance notice to the holding over of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration or earlier termination of this Agreement. For the Lease Term or upon Landlordavoidance of doubt, Xxxxxx’s re-entry following an Event exercise of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or its rights under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent Section 4.2.3 shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be constitute a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionholding over.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term or upon with the express written consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Base Rent shall be payable (a) for the loss that will be suffered by Landlord as first month of such holding over, at a result thereof, far exceed monthly rate of […***…] of the Base Rent and additional rent that would have been payable had applicable during the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination last rental period of the Lease Term or upon Landlord’s reunder this Lease, (b) thereafter, at a monthly rate of […***…] of the Base Rent applicable during the last rental period of the Lease Term under this Lease. Such month-entry following an Event of Default, then the rent payable by Tenant hereunder to-month tenancy shall be increased subject to equal (1) for each every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the first (1st) Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and second (2nd) months shall not constitute a renewal hereof or an extension for any further term, and in such case daily damages in any action to recover possession of such holdover, the Premises shall be calculated at a daily rate equal to the greater of (i) one hundred twenty-five percent either (125%x) for the first month of such holding over, […***…], and (x) thereafter […***…] of the fair market rent for Base Rent applicable during the entire Premises, last rental period of the Lease Term under this Lease (calculated on a per diem basis) or (ii) one hundred twentythe fair market rental rate for the Premises as of the commencement of such holdover period. Notwithstanding the foregoing, Tenant shall have the one-five percent time right, upon written notice (125%the "Permitted Holdover Notice") to Landlord not less than twelve (12) months prior to the expiration of the then fully escalated Base Lease Term, to extend the Lease Term for a period of up to […***…] (as so designated, the "Permitted Holdover Term"), in which case the Rent payable by Tenant during such Permitted Holdover Term shall equal (i) […***…] of the Rent applicable during the last rental period of the Lease Term under this Lease for the first […***…] months of such Permitted Holdover Term, (ii) […***…] of the Rent applicable during the last rental period of the Lease Term under this Lease for the next occurring […***…] of such Permitted Holdover Term (i.e., months 3, 4 and additional rent5), and (2iii) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) […***…] of the fair market rent for Rent applicable during the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover last rental period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease TermTerm under this Lease thereafter; provided, however, that consequential damages shall be available only if Tenant may terminate the holdover persists for more than Permitted Holdover Term at any time upon thirty (30) days' prior notice to Landlord. Any such holdover Subject only to a properly effectuated Permitted Holdover Term, nothing otherwise contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord's express written consent (or Landlord's deemed consent in connection with a Permitted Holdover Term), and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant acknowledges and agrees that the cashing of such check or acceptance of such wire shall be a tenancy at sufferance considered inadvertent and not be construed as creating a tenancy at willmonth-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. In Tenant acknowledges that any holding over without Landlord's express written consent (or Landlord's deemed consent in connection with a Permitted Holdover Term) may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and deliver the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all claims made by any succeeding tenant founded upon such ./ -/// -40- XXXXXX REALTY, L.P. [ACADIA Pharmaceuticals Inc.] *** Confidential Treatment Requested failure to vacate and deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver (collectively, "Holdover Damages"); provided, however, that in no event shall Tenant be liable for Holdover Damages attributable to any holdover be deemed a permitted extension Permitted Holdover Term. Tenant agrees that any proceedings necessary to recover possession of the Premises, whether before or renewal after expiration of the Lease Term, and nothing contained herein shall be construed considered an action to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions enforce the terms of this Section 22.1 expressly survive termination Lease for purposes of the Lease or awarding of Tenant’s right to possessionany attorney's fees in connection therewith.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at Any holding over after the expiration or earlier other termination of this Lease with the Lease Term or upon Landlord’s re-entry following an Event written consent of Default, then it will be conclusively presumed that the value Landlord delivered to Tenant of remaining in possession, and the loss that will shall be suffered by Landlord as construed to be a result thereof, far exceed tenancy from month to month at the Base Rent in effect on the date of such expiration or termination on the terms, covenants and additional rent that would have been payable had the Lease Term continued during such holdover periodconditions herein specified so far as applicable. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon Any holding over after the expiration or earlier other termination of this Lease without the Lease Term or upon Landlord’s re-entry following an Event written consent of Default, then the rent payable by Tenant hereunder Landlord shall be increased construed to be a tenancy at sufferance on all the terms set forth herein, except that Base Rent shall be equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) to one hundred twenty-twenty five percent (125%) of the fair market rent Base Rent payable by Tenant immediately prior to such holding over for the entire Premises, or first thirty (ii30) days of such holding over and one hundred twenty-five percent fifty (125%150% ) thereafter. Acceptance by Landlord of Rent after the expiration or termination of this Lease shall not constitute a consent by Landlord to any such tenancy from month to month or result in any other tenancy or any renewal of the then fully escalated Base Rent and additional rentterm hereof. Tenant acknowledges that if Tenant holds over without Landlord’s consent, and (2) for each month of holdover thereaftersuch holding over may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the Premises. Therefore, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by if Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until fails to surrender the Premises have been vacated. Notwithstanding any upon the expiration or other provision termination of this Lease, Landlord’s acceptance of such rent shall not then, in addition to any manner adversely affect Landlord’s other rights and remediesliabilities to Landlord accruing therefrom, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlordprotect, its agents defend, indemnify and employeeshold Landlord harmless from all Losses resulting from such failure, harmless and will exonerateincluding, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in without limiting the Premises after the expiration or prior termination generality of the Lease Termforegoing, any claims made by any succeeding tenant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom; provided, however, that consequential damages Tenant’s obligations to indemnify and hold Landlord harmless with respect to such claims shall be available only if the holdover persists for more conditioned upon Landlord providing Tenant with not less than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal days prior written notice of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent entry into a lease or other agreement that will give rise to any holdover or to give Tenant any right with respect theretosuch claims. The provisions of this Section 22.1 expressly survive termination of the Lease or of TenantParagraph are in addition to, and do not affect, Landlord’s right to possessionreentry or other rights hereunder or provided by law.
Appears in 1 contract
Samples: Freshworks Inc.
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender may remain in the Premises or any portion thereof at the expiration or earlier termination of for a specified time period (up to one hundred eighty (180) days) following the Lease Term expiration (the “Operational Extension”) by notifying Landlord of its intention prior to the Extension Notice Deadline (the “Operational Extension Option”). The Operational Extension will be under the same terms and conditions in effect during the immediately previous Lease Term. In the event a holdover possession exceeds the Operational Extension, or upon Landlord’s re-entry in the event of any other holdover (including following an Event of Defaultearly termination by Tenant),, then it such possession will be conclusively presumed that the value to Tenant month-to-month at a rate of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of Base Rent at the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) time of the then fully escalated holdover, provided that any annual increases in Base Rent will continue to occur as contemplated by Base Rent and additional rentOperating Expense Exclusions, Addendum 1, and subject to termination by Landlord or Tenant upon thirty (230) for each month of days’ notice to the other party at any time. During any holdover thereafterpossession, the greater of (x) two hundred percent (200%) all of the fair market rent for other terms of this Lease (excluding any expansion or similar option or right) will be applicable and all other payments will continue. Subject to Section 33, if (a) Tenant has not vacated the entire Premises, or (y) two hundred percent (200%) Premises following the expiration of the then fully escalated Base Rent Lease Term or the Operational Extension, as applicable; and additional rent. Such rent shall be computed by (b) Landlord and paid by Tenant on provides at least thirty (30) days’ notice of the amount of any of the following damages that Landlord will incur as a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account result of Tenant’s hold-over in failure to vacate the Premises after at the end of such thirty (30)-day period, then if Tenant fails to vacate before the later of (i) the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if (ii) the holdover persists for more than expiration of any Operational Extension; or (iii) thirty (30) days. Any days after receipt of such holdover shall notice, Tenant will be deemed liable to be Landlord for the rental revenue actually lost by Landlord solely as a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal result of the Lease Termholdover from an executed lease, and nothing contained herein shall be construed any amounts Landlord is required to constitute Landlord’s consent pay to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination new tenant solely as a result of the holdover, but Tenant will not be liable for any other indirect or consequential damages. No holding over by Tenant, whether with or without consent of Landlord, will operate to extend this Lease or of Tenant’s right to possessionexcept as otherwise expressly provided herein.
Appears in 1 contract
Samples: Lease Agreement
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term hereof, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the and in such case Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased payable at a monthly rate equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for greater of (i) the entire Premises, Base Rent applicable during the last rental period of the Lease Term under this Lease or (ii) the fair market rental rate for the Premises as of the commencement of such holdover period; provided, however, that if Tenant holds over after the expiration of the Lease Term hereof with the express consent of Landlord, in such case Base Rent shall be payable (x) for the first (1st) thirty (30) days following expiration of the Lease Term at a monthly rate equal to the Base Rent applicable during the last rental period of the Lease Term under this Lease, and (y) thereafter, one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (xi) two hundred percent the Base Rent applicable during the last rental period of the Lease Term under this Lease or (200%ii) of the fair market rent rental rate for the entire Premises, or (y) two hundred percent (200%) Premises as of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day commencement of such holdover period period. Such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein. Landlord hereby expressly reserves the first day right to require Tenant to surrender possession of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any to Landlord as provided in this Lease upon the expiration or other provision termination of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive 20 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Premises upon the termination or expiration of the Lease or of Tenant’s right this Lease, in addition to possessionany other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all Claims resulting from such failure, including but not limited to, any Claims made by any succeeding tenant founded upon such failure to surrender, and any lost profits to Landlord resulting therefrom.
Appears in 1 contract
Samples: Lease Agreement (Loudcloud Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at If Xxxxxx holds over after the expiration or earlier termination of the Lease Term or upon earlier termination thereof, with or without the express or implied consent of Landlord’s re-entry following an Event , such tenancy shall be that of Default, then it will be conclusively presumed that the value to a tenancy at sufferance. No holdover by Tenant or payment by Tenant of remaining in possessionRent shall constitute a renewal hereof or an extension for any further term or prevent Landlord from immediate recovery of the Premises. Such tenancy at sufferance shall be subject to every term, covenant and condition contained herein, except that Tenant shall pay on the loss that will be suffered by Landlord first day of each month, as a result thereofholdover rent, far exceed (1) for the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant first thirty (or anyone claiming through or under Tenant30) does not immediately surrender the Premises or any portion thereof upon days following the expiration or earlier termination of the Lease Term or upon Landlord’s reearlier termination of this Lease, an amount (on a per-entry following an Event of Default, then month basis without reduction for partial months during the rent payable by Tenant hereunder shall be increased holdover) equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent Base Rent then payable for the entire Premiseslast full month of the Lease Term and (2) from and after the thirty-first (31st) day following the expiration of the Lease Term or earlier termination of this Lease, or an amount (iion a per-month basis without reduction for partial months during the holdover) equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated greater of (a) the Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent Additional Rent payable for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar last full month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing (b) the fair market gross rental for the Premises as reasonably determined by Landlord. Nothing contained herein in this Article 16 shall be construed to constitute Landlord’s as consent by Landlord to any holdover or to give Tenant any right with respect theretoholding over by Xxxxxx. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at Law. If Xxxxxx fails to surrender the Premises within thirty (30) days after the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold the Landlord Related Parties harmless from all Claims resulting from such failure, including, without limiting the generality of the foregoing, any Claims made by any succeeding tenant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom. Notwithstanding the foregoing, if Landlord has notified Tenant that Landlord has a new tenant for the Premises, then the terms of the prior sentence shall apply as of the termination or expiration of this Lease or of Tenant’s right to possessionand not thirty (30) days thereafter.
Appears in 1 contract
Samples: Office Lease (Cambium Networks Corp)
Holding Over. 22.1 Tenant acknowledges In the event that it is extremely important that Landlord have substantial advance notice « Marina Member(s) » holds over after the termination of this agreement the continued occupancy of the date on which Tenant will vacate space by the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant« Marina Member(s) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder » shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be construed as a tenancy at sufferance at the rental herein specified, subject to cancellation by Pine Tree Park, Co-op, Inc. and not a tenancy at willsubject to changes in the rental , terms and conditions upon written notice by Pine Tree Park Co-op, Inc. to the « Marina Member(s) ». CANCELLATION Pine Tree Park Co-op, Inc. reserves the right to cancel this agreement upon written notification. « Marina Member(s) » shall immediately remove the Boat from the boat slip within five (5) days of the date of Pine Tree Park Co-op, Inc. written notice of cancellation. Upon failure to comply with the terms of this agreement or any applicable laws, ordinances and regulations, the « Marina Member(s) » shall pay to Pine Tree Park Co-op, Inc. prior to the removal of the boat the sum of five dollars per day as liquidated damages. In no event shall any holdover will « Marina Member(s) » be deemed a permitted extension or renewal allowed to make use of the Lease Termfacilities subsequent to the date of cancellation expect to remove the boat from the premises. INDEMNIFICATION « Marina Member(s) » HEREBY RELEASES, discharges and nothing contained herein shall be construed covenants not to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination xxx Xxxx Tree Park Co-op, Inc., their administrators, directors, managers, agents, officers, volunteers and employees (each considered one of the Lease releases’ herein) from all liability, claims, demands, losses or damages on « Marina Member(s) » account caused or alleged to be caused in whole or in part by the negligence of Tenantthe release’s right or otherwise, in regard to possessionPine Tree Park Co-op, Inc. roles and responsibilities as a provider and manager, respectively, of the facilities at Pine Tree Park Co-op, Inc. and « Marina Member(s)» further agrees that if, despite the release and indemnity agreement, « Marina Member(s) » , or any one of « Marina Member(s) » behalf, make a claim against any of the release’s , in regard to their roles as a provider and manager, « Marina Member(s) » WILL INDEMNIFY, SAVE, AND HOLD HARMLESS each of the releases’ from any litigation expenses, attorney fees, loss, liability, damage or cost which any may incur as a result of such claim. PROPERTY DAMAGE All property stored within, on or about the premises by the « Marina Member(s) » sole risk. Pine Tree Park Co-op, Inc. their administrators, directors, managers, agents, officers, volunteers and employees shall not be liable to « Marina Member(s)» for any damage to, or loss of, any property while at the premises, arising from any cause whatsoever including, but not limited to : fire, theft, vandalism, water damage, high water resulting from weather conditions, storms, hurricanes, floods, tornadoes, mysterious disappearance, rodents, act of God, or the active or passive acts of omissions or negligence of Pine Tree Park Co-op, Inc. their administrators, directors, managers, agents, officers, volunteers or employees.
Appears in 1 contract
Samples: Boat Lease Agreement
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration or earlier termination of this Lease with the Lease Term or express written consent of Landlord, Tenant’s occupancy shall be a month-to-month tenancy at a rent agreed upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereofand Tenant, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) but in no event less than one hundred twenty-five percent (125%) of the fair market rent Monthly Rent and one hundred percent (100%) of Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease for the entire Premisesfirst one (1) month of any such holdover, or (ii) and one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Monthly Rent and one hundred percent (100%) of the Additional Rent Payable under this Lease during the last full month prior to the date of the expiration of this Lease for any holdover thereafter. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional rentspace in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord’s acceptance of rent after such holding over with Landlord’s written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s consent, Tenant’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to one hundred fifty percent (2150%) of the Monthly Rent and Additional Rent payable under this Lease for each the last full month prior to the date of such expiration or termination for the first thirty (30) days of holdover thereafter, the greater of (x) and thereafter two hundred percent (200%) of the fair market rent Monthly Rent and Additional Rent payable under this Lease for the entire Premises, or (y) two hundred percent (200%) of last full month prior to the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day date of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessiontermination.
Appears in 1 contract
Samples: Center (2U, Inc.)
Holding Over. 22.1 12.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the PremisesPremises because Landlord will (a) require an extensive period to secure a replacement tenant, and that if Tenant fails to surrender (b) plan its entire leasing and renovation program for the Building in reliance on its lease expiration dates. If the Premises or any portion thereof are not surrendered at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event Tenant's right of Defaultpossession, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the resulting loss that will be suffered by Landlord as a result thereofLandlord, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, Therefore if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of Tenant's right of possession Tenant (or anyone claiming through Tenant) does not surrender immediately the Lease Term Premises (or upon Landlord’s re-entry following an Event of Defaultportion thereof), then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of the following percentage of the Base Rent, additional rent and other sums that would have been payable pursuant to the provisions of this Lease (iassuming the Lease Term for the entire Premises had continued during such holdover period): one hundred three percent (103%) if Landlord has given Tenant written permission to holdover; one hundred twenty-five percent (125%) of the fair market rent if Landlord has not given Tenant written permission to holdover but Landlord does not have a lease or purchase agreement executed with another party and does not intend for the entire Premises, itself or (ii) its affiliates to occupy; or one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rentin any other case. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Nothing herein shall limit Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s 's right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account possession of Tenant’s hold-over in the Premises after upon the expiration or prior earlier termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Samples: Lease (Gse Systems Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice has no right to retain possession of the date on which Tenant will vacate Premises or any part thereof beyond the Premises, and expiration or termination of this Lease. In the event that if Tenant Txxxxx fails to surrender the Premises or any portion thereof at in the condition required under this Lease upon expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Defaultthis Lease, then it will Tenant shall be conclusively presumed a tenant at sufferance, and all other terms and conditions of this Lease shall apply except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Monthly Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1a) for each 104% of the Monthly Base Rent applicable during the month immediately preceding the expiration or termination for the first thirty (1st30) days of Tenant’s holding over, and second (2nd) months of such holdover, the greater of (ib) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Monthly Base Rent and additional rent, and (2) for each applicable during the month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after immediately preceding the expiration or prior termination of the Lease Term; provided, however, that consequential damages thereafter. Nothing contained herein shall be available only if the holdover persists for more than construed as consent by Landlord to any holding over by Txxxxx. If Txxxxx holds over in excess of thirty (30) days. Any such holdover , Tenant shall be deemed indemnify, defend and hold Landlord harmless from and against all claims, liabilities, losses, damages and costs (including attorneys’ fees and court costs) incurred by or asserted against Landlord and arising directly or indirectly from Tenant’s failure to be a tenancy at sufferance and timely surrender the Premises, including but not a tenancy at will. In no event shall limited to (i) any holdover be deemed a permitted extension rent payable by or renewal any loss, cost, or damages, including lost profits, claimed by any prospective tenant of the Lease TermPremises or any portion thereof, and nothing contained herein shall be construed to constitute (ii) Landlord’s consent damages as a result of such prospective tenant rescinding or refusing to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination enter into the prospective lease of the Lease Premises or any portion thereof by reason of Tenant’s right such failure to possessiontimely surrender the Premises, and (iii) any costs related to delayed development, improvement or other construction resulting from Tenant holding over.
Appears in 1 contract
Samples: Industrial Space Lease (Dragonfly Energy Holdings Corp.)
Holding Over. 22.1 Any holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice after the expiration of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination term of the this Lease Term or upon Landlord’s re-entry following an Event of Default, then it will shall be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord treated as a result thereof, far exceed the Base Rent tenancy at sufferance and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased on the terms and conditions as set forth in this Lease, as far as applicable except that Tenant shall pay as a use and occupancy charge an amount equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or first thirty (ii30) one hundred twenty-five percent (125%) days of the then fully escalated Base Rent and additional rent, and (2) for each month of such holdover thereafter, at the greater of (x) two hundred percent (200%) 150% of the fair market rent for Annual Fixed Rent and Additional Rent calculated (on a daily basis) at the entire Premiseshighest rate payable under the terms of this Lease, or (y) two hundred percent (200%) the fair market rental value of the then fully escalated Base Premises; and (ii) thereafter, at the greater of (a) 200% of the Annual Fixed Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant Additional Rent calculated (on a monthly basis and shall be daily basis) at the highest rate payable on under the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision terms of this Lease, Landlordor (b) the fair market rental value of the Premises, in each case for the period measured from the day on which Tenant’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights hold-over commences and remediesterminating on the day on which Tenant vacates the Premises. In addition, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees, employees from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease TermTerm of this Lease; provided, however, that Tenant shall not be liable for indirect or consequential damages shall be available only if the holdover persists suffered by Landlord on account of any such holding over by Tenant unless such holding over continues for more than thirty (30) daysdays after the expiration of the Term of this Lease. Any such holdover Nothing in the foregoing nor any other term or provision of this Lease shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension permit Tenant to retain possession of the Premises or renewal hold over in the Premises after the expiration or earlier termination of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or All of Tenant’s right Property which remains in the Building or the Premises after the expiration or termination of this Lease shall be conclusively deemed to possessionbe abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the proceeds of such sale and apply the same, at its option against the expenses of the sale, the cost of moving and storage, any arrears of rent or other charges payable hereunder by Tenant to Landlord and any damages to which Landlord may be entitled under this Lease and at law and in equity.
Appears in 1 contract
Samples: Lionbridge Technologies Inc /De/
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, because Landlord will require an extensive period to locate a replacement tenant and because Landlord plans its entire leasing and renovation program for the Building in reliance on its lease expiration dates. Tenant also acknowledges that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of DefaultTerm, then this Lease and the rent payable by Tenant hereunder shall be increased to equal (1i) for each of during the first thirty (1st30) and second (2nd) months days of such holdoverholdover period, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market Base Rent, additional rent for and other sums that would have been payable pursuant to the entire Premises, or provisions of this Lease if the Lease Term had continued during such holdover period and (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market Base Rent, additional rent for and other sums that would have been payable pursuant to the entire Premises, or (y) two hundred percent (200%) provisions of this Lease if the then fully escalated Base Rent and additional rentLease Term had continued during such holdover period. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at tenancy-at-sufferance and not a tenancy-at-will or tenancy at willfrom month-to-month. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord Sublessee shall have substantial advance the right to holdover in the Subleased Premises provided Sublessee delivers to Sublessor a written notice of intent to do so (the date on which Tenant will vacate “Holdover Notice”) not later than sixty (60) days prior to the Premises, and that if Tenant fails to surrender the Premises Expiration Date or any portion thereof at the expiration date of any Extension Term. The Holdover Notice shall specify the length of time that Sublessee requires to remain in the Subleased Premises (the “Permitted Holdover Period”) which shall not extend beyond the lesser of six (6) months or earlier termination the initial term of the Prime Lease (or the extended term, if any, which Sublessor advises is not anticipated). Any such holdover during the Permitted Holdover Period shall be upon the same terms and conditions as were applicable during the last month of the Initial Sublease Term or upon Landlord’s re-entry following an Event of DefaultExtension Term, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Termapplicable; provided, however, that the Base Rent shall be increased to one hundred twenty percent (120%) of the Base Rent in effect during the last month of the Initial Sublease Term or Extension Term, as applicable. Any holding over by Sublessee beyond the Permitted Holdover Period with the consent of Sublessor shall be deemed a month-to-month tenancy at one hundred fifty percent (150%) of the Base Rent in effect during the last month of the Initial Sublease Term or Extension Term, as applicable. Any holding over by Sublessee beyond the Permitted Holdover Period without the consent of Sublessor shall be deemed a tenancy at sufferance at one hundred seventy-five percent (175%) of the Base Rent in effect during the last month of the Initial Sublease Term or Extension Term, as applicable. To the extent Sublessee holds over in the Subleased Premises beyond the Permitted Holdover Period without obtaining Sublessor’s consent, Sublessee shall defend, indemnify and hold Sublessor harmless from and against all loss or liability resulting from or arising out of Sublessee’s failure to surrender the Subleased Premises by such date, including, but not limited to, any amounts required to be paid to any sublessee or prospective sublessee who was to have occupied the Subleased Premises after said termination or expiration and any related attorneys’ fees and brokerage commissions incurred as a result of Sublessee’s failure to vacate the Subleased Premises on or before the expiration of the Permitted Holdover Period. Notwithstanding the foregoing, in the event of a holdover not permitted or expressly authorized pursuant to the terms of this Section 2.2 above, which ends on or before the applicable term of the Prime Lease, Sublessee shall not be liable to Sublessor for consequential damages shall be available only if for its failure to vacate the holdover persists for more than thirty (30) daysapplicable portion of the Subleased Premises. Any such holdover Nothing herein shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute LandlordSublessor’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of a holding over by Sublessee beyond the Lease or of Tenant’s right to possessionPermitted Holdover Period.
Appears in 1 contract
Samples: Sublease Agreement (Cymer Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if If Tenant fails to surrender deliver possession of the Premises or any portion thereof at on the Termination Date, but holds over after the expiration or earlier termination of this Lease without the Lease Term express prior written consent of Landlord, such tenancy shall be construed as a tenancy from month-to-month (terminable by either Landlord or Tenant upon Landlord’s re-entry following an Event of Defaultthirty (30) days’ prior written notice to the other) on the same terms and conditions as are contained herein, then it will be conclusively presumed except that the value to Fixed Monthly Rent payable by Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant period of holding over for the first two (or anyone claiming through or under Tenant2) does not immediately surrender months following the Premises Termination Date or any portion thereof upon the expiration or earlier termination of the this Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each automatically increase as of the first (1st) and second (2nd) months of such holdover, the greater of (i) Termination Date to an amount equal to one hundred twenty-five percent (125%) of the fair market rent Fixed Monthly Rent payable by Tenant for the entire Premises, or (ii) calendar month immediately prior to the date when Tenant commences such holding over and shall thereafter automatically increase to one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Fixed Monthly Rent and additional rentpayable by Tenant for the calendar month immediately prior to the date when Tenant commences such holding over (the “Holdover Rent”). Tenant’s payment of such Holdover Rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent thereof, shall not in constitute a waiver by Landlord of any manner adversely affect of Landlord’s other rights and remediesor remedies with respect to such holding over, including Landlord’s right to evict Tenant and to recover all damages, and Tenant nor shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall it be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension consent by Landlord to Tenant’s continued occupancy or renewal possession of the Lease TermPremises past the time period covered by Tenant’s payment of the Holdover Rent. Furthermore, and nothing contained herein shall be construed if Tenant fails to constitute Landlord’s consent deliver possession of the Premises to Landlord within ten (10) business days after the expiration or earlier termination of this Lease, then, in addition to any holdover or other liabilities to give Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees and expenses) and liability resulting from such failure, including without limiting the foregoing, any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or claims made by any succeeding tenant arising out of Tenant’s right failure to possessionso surrender, and any lost profits to Landlord resulting therefrom. Notwithstanding the provisions contained hereinabove regarding Tenant’s liability for a continuing holdover, Landlord agrees to use commercially reasonable efforts to insert into any future lease of another tenant proposing to occupy the Premises provisions similar to those contained in Section 2.1, permitting mitigation of Tenant’s damages arising out of Tenant’s temporary holdover.
Appears in 1 contract
Samples: Office Lease (ReachLocal Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term hereof, without the express consent of Landlord, such tenancy shall be at sufferance only and shall not constitute a renewal hereof or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionextension for any further term, and the loss that will be suffered by Landlord as a result thereof, far exceed the in such case Base Rent and additional rent that would have been shall be payable had at a monthly rate equal to (i) one hundred fifty percent (150%) of the Lease Term continued sum of Base Rent applicable during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination last rental period of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) under this Lease for each of the first (1st) and second (2nd) months month of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five sixty percent (125160%) of the then fully escalated sum of Base Rent and additional rentapplicable during the last rental period of the Lease Term under this Lease for the second (2nd) month of such holdover, (iii) one hundred seventy percent (170%) of the sum of Base Rent applicable during the last rental period of the Lease Term under this Lease for the third (3rd) month of such holdover, and (2) for each month of holdover thereafter, the greater of (xiv) two hundred percent (200%) of the fair market rent sum of Base Rent applicable during the last rental period of the Lease Term under this Lease for the entire Premises, or fourth (y4th) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day month of such holdover period and thereafter. Such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the first day right to require Tenant to surrender possession of each calendar month thereafter during such holdover period until the Premises have been vacatedto Landlord as provided in this Lease upon the expiration or other termination of this Lease. Notwithstanding The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other provision rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender, and any lost profits to Landlord resulting therefrom; provided, however, Tenant shall only be responsible for Landlord’s acceptance lost profits and other consequential damages resulting from Tenant’s holdover if Landlord provides notice to Tenant at least ten (10) days prior to the expiration of such rent shall not in any manner adversely affect the Lease Term (or, if Tenant is currently holding over and considered a month-to-month tenant pursuant to this Article 16, with Landlord’s other rights and remedieselection to terminate such month-to-month tenancy) that Landlord is negotiating with a tenant for the Premises upon the expiration of the Lease Term (or the month-to-month tenancy, including Landlord’s right to evict Tenant and to recover all damages, as applicable) and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account thereafter retains possession of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; providedTerm (or the month-to-month tenancy, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionas applicable).
Appears in 1 contract
Samples: Lease (Genomatica Inc)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice If Tenant, or any party claiming under Tenant, retains possession of the date on which Tenant will vacate Premises after the PremisesExpiration Date or Termination Date, such possession shall be that of a holdover tenant and that if Tenant fails to surrender the Premises an unlawful detainer. No tenancy or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in interest shall result from such possession, and the loss that will such parties shall be suffered by Landlord subject to immediate eviction and removal. Tenant or any such party shall pay Landlord, as a result thereof, far exceed the Base Rent and additional rent that would have been payable had for the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months period of such holdover, the greater of (i) an amount equal to one hundred twenty-five percent (125%) of the fair market rent Base Rent otherwise provided for herein during the entire Premises, or first three (ii3) months of such holdover and one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Rent and additional rent, and (2) otherwise provided for each month of holdover herein thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base together with all other Additional Rent and additional rentother amounts payable pursuant to the terms of this Lease. Such rent Tenant shall also be computed liable for any and all damages, costs and liabilities sustained by Landlord and paid by Tenant on as a monthly basis and shall be payable on the first day result of such holdover period holdover. Tenant shall vacate the Premises and the first day deliver same to Landlord immediately upon Tenant’s receipt of each calendar month thereafter notice from Landlord to so vacate. The Rent during such holdover period until shall be payable to Landlord on demand. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend the Premises have been vacated. Notwithstanding any other provision term of this Lease. Notwithstanding the foregoing, Landlord’s acceptance so long as no Event of such rent Default exists at the time Tenant gives the Holdover Notice (as hereinafter defined) or at the expiration of the Term, provided that Tenant gives Landlord written notice (the “Holdover Notice”) on or before March 1, 2011 of its election to holdover in the Premises, which Holdover Notice shall not in any manner adversely affect Landlord’s other rights be irrevocable and remedies, including Landlord’s right shall specify the number of full months (up to evict three (3) months) Tenant and desires to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over holdover in the Premises after (the expiration or prior termination “Holdover Period”), the Term of the Lease Termshall be extended by the Holdover Period; provided, however, that consequential damages that the Monthly Rent shall be available only if $21,936.38 and the holdover persists for more than thirty Holdover Period shall not extend the period by which Tenant may exercise the Relocation Option or the Extension Option (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionas hereinafter defined).
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that holds over without the consent of Landlord have substantial advance notice after expiration or termination of this Lease, Tenant shall (a) pay as holdover rental for each month of the date on which Tenant will vacate holdover tenancy an amount equal to (w) 125% for the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination first month of the Lease Term or upon Landlord’s re-entry following an Event of Defaultholdover tenancy, then it will be conclusively presumed that (x) 150% for the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination second month of the Lease Term or upon Landlord’s re-entry following an Event of Defaultholdover tenancy, then (y) 175% for the rent payable by Tenant hereunder shall be increased to equal (1) for each third month of the first holdover tenancy and (1stz) 200% for the fourth month and second (2ndany additional month(s) months of such holdover, the holdover tenancy of the greater of (i) one hundred twenty-five percent (125%) of the fair market rent rental value of the Premises for the entire Premises, such month (as reasonably determined by Landlord) or (ii) one hundred twenty-five percent (125%) the Rent which Tenant was obligated to pay for the month immediately preceding the end of the then fully escalated Base Rent Term; and additional rent(b) be liable to Landlord for and indemnify Landlord against (i) any payment or rent concession which Landlord may be required to make to any tenant obtained by Landlord for all or any part of the Premises (a "New Tenant") by reason of the late delivery of space to the New Tenant as a result. of Tenant's holding over or in order to induce such New Tenant not to terminate its lease by reason of the holding over by Tenant, (ii) the loss of the benefit of the bargain if any New Tenant shall terminate its lease by reason of the holding over by Tenant, and (2iii) any claim for each month of holdover thereafterdamages by any New Tenant, No holding over by Tenant after the Term shall operate to extend the Term. Notwithstanding the foregoing, the greater acceptance of (x) two hundred percent (200%) of the fair market any rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on pursuant to this Section 7.10 shall not preclude Landlord from commencing and prosecuting a monthly basis and shall be payable on holdover or summary eviction proceeding. In the first day of such holdover period and event that Tenant elects to renew the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision Term of this LeaseLease and holds over beyond the expiration of the Renewal Term, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerateindemnify, defend and indemnify Landlord, its agents and employees, hold harmless Landlord from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in incurs under the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be Xxxxxxxxx as a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionresult thereof.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice Subtenant shall, at the termination of this Sublease by lapse of time or otherwise, yield up immediate possession to Sublandlord with all repairs and maintenance required herein to be performed by Subtenant completed. Should Subtenant continue to hold the date on which Tenant will vacate Subleased Premises and/or the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at FF&E after the expiration or earlier termination of the Lease Term this Sublease, or upon Landlord’s re-entry following an Event of Defaultafter reentry by Sublandlord without terminating this Sublease, then it will such holding over, unless otherwise agreed to by Sublandlord in writing, shall constitute and be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord construed as a result thereof, far exceed tenancy at sufferance and not a tenancy at will. Subtenant shall have no right to notice under Official Code of Georgia Annotated §44-7-7 of the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event its tenancy. Subtenant shall pay monthly installments of Default, then the rent payable by Tenant hereunder shall be increased Rent equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent monthly portion of Rent in effect as of the date of expiration or earlier termination for the entire Premises, or first ninety (ii90) days of such holding over and one hundred twenty-five fifty percent (125150%) thereafter, and subject to all of the then fully escalated Base Rent other terms, charges and additional rentexpenses set forth herein. Subtenant shall also be liable to Sublandlord for all damage which Sublandlord suffers because of any holding over by Subtenant, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) Subtenant shall indemnify Sublandlord against all claims made by any other tenant or prospective tenant against Sublandlord resulting from delay by Sublandlord in delivering possession of the fair market rent for Subleased Premises and/or the entire PremisesFF&E to such other tenant or prospective tenant. No holding over by Subtenant, whether with or (y) two hundred percent (200%) without consent of Sublandlord shall operate to extend the then fully escalated Base Rent Term except as otherwise expressly provided in a written agreement executed by both Sublandlord and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoSubtenant. The provisions of this Section 22.1 expressly 32 shall survive the expiration or earlier termination of the Lease or of Tenant’s right to possessionthis Sublease.
Appears in 1 contract
Holding Over. 22.1 Tenant acknowledges that it is extremely important that This Sublease shall terminate without further notice on the Sublease Expiration Date (as set forth in Article 1). Any holding over by Subtenant after expiration of the Sublease Term shall neither constitute a renewal nor extension of this Sublease nor give Subtenant any rights in or to the Leased Premises except as expressly provided in this Section 18.2. Any such holding over to which Sublandlord and Head Landlord have substantial advance notice of consented to in writing shall be construed to be a tenancy from month to month, on the date on which Tenant will vacate the Premisessame terms and conditions herein specified insofar as applicable, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Monthly Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first two (1st) and second (2nd2) months of such holdover, the greater of (i) holding over to an amount equal to one hundred twenty-five fifty percent (125150%) of the fair market rent Base Monthly Rent payable during the last full month immediately preceding such holding over and thereafter the Base Monthly Rent shall be increased for the entire Premises, or (ii) one hundred twenty-five percent (125%) remainder of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) such holding over to an amount equal to two hundred percent (200%) of the fair market rent Base Monthly Rent payable during the last full month immediately preceding such holding over. Subtenant acknowledges and agrees that if Subtenant holds over without Sublandlord’s consent, such holding over may compromise or otherwise affect Sublandlord’s ability to recapture the Leased Premises for Sublandlord’s use, including, without limitation, entering into new leases with prospective subtenants regarding the entire PremisesLeased Premises due to be surrendered by Subtenant. Therefore, or (y) two hundred percent (200%) of if Subtenant fails to surrender the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Leased Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than within thirty (30) days. Any such holdover days of the Sublease Expiration Date, then, in addition to the increased Base Monthly Rent and other amounts due under this Sublease accruing therefrom, Subtenant shall be deemed liable for any claims for lost profits or other consequential damages of Sublandlord resulting from Subtenant holding over in the Leased Premises or any portion thereof; and Subtenant shall protect, defend, indemnify and hold Sublandlord harmless from and against all claims resulting from such failure, including, without limiting the foregoing, any claims made by Sublandlord or any succeeding subtenant founded upon such failure to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Termsurrender, and nothing contained herein shall be construed any losses suffered by Sublandlord, including lost profits, or consequential damages resulting from such failure to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionsurrender.
Appears in 1 contract
Samples: Juniper Networks Inc
Holding Over. 22.1 In the event Tenant, or any party claiming rights to this Lease under, by or through Tenant acknowledges that it is extremely important that Landlord have substantial advance notice retains possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at after the expiration Required Surrender Date (each such retention a “Holdover”), then, in such event, such possession shall be an unlawful detainer, and no tenancy or earlier termination interest shall result from such possession, such parties shall be subject to immediate eviction and removal, and Tenant shall, during the term of the Lease Term Holdover, pay Landlord as rent for each month or upon Landlord’s re-entry following portion thereof during the period of such holdover an Event amount equal to (i) one hundred and fifty percent (150%) of Defaultthe monthly Basic Rent in effect immediately preceding the Holdover plus (ii) one hundred percent (100%) of the monthly Additional Rent in effect immediately preceding such Holdover (collectively the “Holdover Rent”). In addition and without limiting the requirement of the payment of Holdover Rent, then it will be conclusively presumed that the value Tenant shall also pay to Tenant of remaining in possession, Landlord any and the loss that will be suffered all damages sustained by Landlord as a result thereofof such Holdover, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or which payment shall be made to Landlord upon Landlord’s re-entry following written demand; provided that Tenant shall not be liable to Landlord for any damages in connection with an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of actual or prospective tenant arising from Tenant’s holdover unless (i) one hundred twenty-five percent Landlord gives written notice (125%the “Vacancy Notice”) of to Tenant after the fair market rent for date Tenant’s right to renew the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of Lease pursuant to Exhibit J has occurred stating (x) two hundred percent (200%) that Landlord has entered into a letter of intent, letter or memorandum of understanding or another similar instrument with a proposed tenant or a third party has accepted a proposal made by Landlord to lease all or part of the fair market rent for the entire Premises, or Premises and (y) two hundred percent the date Landlord requires Tenant to vacate the Premises (200%the “Vacancy Date”), which date shall be the later of thirty (30) days after Tenant’s receipt of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period Vacancy Notice and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision expiration date of this Lease, Landlordand (ii) Tenant fails to vacate the Premises on or before the Vacancy Date. Tenant will vacate the Premises and deliver the same to Landlord promptly upon Tenant’s acceptance receipt of notice from Landlord to so vacate. The Holdover Rent during such rent period shall not be payable to Landlord on demand or if no demand is made then on the 1st day of each month during the term of the Holdover (without in any manner adversely affect Landlord’s way implying or creating a month-to-month tenancy or any other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and tenancy). No holding over by Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed operate to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of extend this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionLease.
Appears in 1 contract
Samples: Office Lease Agreement (MiddleBrook Pharmaceuticals, Inc.)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term Term, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the and in such case Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to payable at a monthly rate equal to: (1A) for each of the first two (1st) and second (2nd2) months of such the holdover, one hundred fifty percent (150%) of the greater of (i) one hundred twenty-five percent (125%) the Base Rent applicable during the 16 last rental period of the fair market rent for the entire Premises, Lease Term under this Lease or (ii) one hundred twenty-five percent (125%) the fair market rental rate for the Premises as of the then fully escalated Base Rent and additional rent, commencement of such holdover period; and (2B) for each month the remainder of the holdover thereafterperiod, the greater of (x) two hundred percent (200%) of the greater of (i) the Base Rent applicable during the last rental period of the Lease Term under this Lease or (ii) the fair market rent rental rate for the entire Premises, or (y) two hundred percent (200%) Premises as of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day third (3rd) month of such holdover period period. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the first day right to require Tenant to surrender possession of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any to Landlord as provided in this Lease upon the expiration or other provision termination of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord's consent, such holding over may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all Claims resulting from such failure, including, without limiting the generality of the Lease or of Tenant’s right foregoing, any claims made by any succeeding tenant founded upon such failure to possessionsurrender, and any losses suffered by Landlord, including lost profits, resulting from such failure to surrender.
Appears in 1 contract
Samples: Office Lease (Styleclick Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at holds over after the expiration or earlier termination of the Lease Term Term, with or upon without the express or implied consent of Landlord’s re, such tenancy shall be from month-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possessionto-month only, and the loss that will be suffered by Landlord as shall not constitute a result thereofrenewal hereof or an extension for any further term, far exceed the and in such case Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased payable at a monthly rate (a) equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal days that Tenant holds over after the expiration of the Lease Term, and nothing (b) thereafter, equal to one hundred fifty percent (150%) of the greater of (i) the Base Rent applicable during the last rental period of the Lease Term under this Lease or (ii) the fair market rental rate for the Premises as of the commencement of such holdover period. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein herein. Nothing contained in this Article 16 shall be construed to constitute Landlord’s as consent by Landlord to any holdover holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or to give Tenant any right with respect theretoother termination of this Lease. The provisions of this Section 22.1 expressly survive Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord’s consent, such holding over may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all Claims resulting from such failure, including, without limiting the generality of the Lease or of Tenant’s right foregoing, any claims made by any succeeding tenant founded upon such failure to possessionsurrender, and any losses suffered by Landlord, including lost profits, resulting from such failure to surrender.
Appears in 1 contract
Samples: Office Lease (Active Network Inc)
Holding Over. 22.1 No holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice shall operate to extend the Term. If Tenant remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the after expiration or earlier termination of this Lease: (i) Tenant shall become a tenant at sufferance upon all the Lease Term or upon Landlord’s re-entry following an Event applicable terms and conditions of Defaultthis Lease, then it will be conclusively presumed except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (iA) one hundred twenty-five fifty percent (125150%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rentestimated Escalation Rent due for the period immediately preceding the holdover during the first sixty (60) days of such holding over, and (2B) for each month commencing as of holdover thereafterthe sixty-first (6lst) day of such holding over, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and estimated Escalation Rent due for the period immediately preceding the holding over, prorated on a daily basis; (ii) Tenant shall indemnify, defend, protect and hold harmless Landlord, the other Indemnitees, and any tenant to whom Landlord has leased all or part of the Premises, from Claims (including loss of rent to Landlord or additional rent. Such rent shall be computed payable by Landlord such tenant and paid reasonable attorneys’ fees) suffered or incurred by Landlord, such other Indemnitees, or such tenant resulting from Tenant’s failure timely to vacate the Premises; and (iii) such holding over by Tenant on a monthly basis shall constitute an Event of Default. Landlord’s acceptance of Rent if and after Tenant holds over shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding not convert Tenant’s tenancy at sufferance to any other provision form of tenancy or result in a renewal or extension of the Term of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right unless otherwise specified by notice from Landlord to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Samples: Office Lease (Stitch Fix, Inc.)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice On or prior to the Expiration Date, Subtenant will surrender possession of the date on which Tenant will vacate Sublease Premises to Novartis in accordance with the requirement of Article 20 of the Xxxxxxxxx, and this Sublease, including any obligation to remove and restore any Alteration performed by or for the benefit of Subtenant in the Sublease Premises and the Roof Premises, and that if Tenant fails applicable. If Subtenant holds over after the Termination Date (in the event Novartis exercises the right to surrender terminate this Sublease in accordance with the Premises terms of Section 2(c) of this Sublease), or any portion thereof at Expiration Date of this Sublease, as the expiration or earlier termination ease may be, without the express written consent of Novartis, Subtenant shall become a tenant of sufferance only. Notwithstanding anything to the contrary contained in Section 20,3 of the Lease Term or upon Landlord’s re-entry following an Event of DefaultXxxxxxxxx, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) if Subtenant holds over after the Termination Date of this Sublease (in the event Novartis exercises the right to terminate this Sublease in accordance with the terms of Section 2(c) of this Sublease), Subtenant shall pay to Novartis on the first day of each month of the holdover period, an amount equal to one hundred twenty-five fifty percent (125150%) of the fair market rent Fixed Rent payable by Subtenant for the entire Premisesmonth in which the Termination Date of this Sublease shall occur, or plus all additional rent payable to Novartis under this Sublease for each month and any partial month that Subtenant shall continue to hold over; (ii) if Subtenant holds over after the Expiration Date of this Sublease and Novartis has extended the term of the Xxxxxxxxx, so that the Expiration Date of the Xxxxxxxxx is later than thirty (30) days after the Expiration Date of this Sublease, Subtenant shall pay to Novartis on the first day of each month of the holdover period, an amount equal to one hundred twenty-five fifty percent (125150%) of the then fully escalated Base Fixed Rent and payable by Subtenant for the month in which the Expiration Date of this Sublease shall occur, plus all additional rent, and (2) rent payable to Novartis under this Sublease for each month and any partial month that Subtenant shall continue to hold over; and (iii) if Subtenant holds over after the Expiration Date of this Sublease and Novartis has not extended the term of the Xxxxxxxxx so that the Expiration Date of the Xxxxxxxxx is thirty (30) days after the Expiration Date of this Sublease, Subtenant shall pay to Novartis on the first day of each month of the holdover thereafterperiod, an amount equal to the greater of (x) two one hundred fifty percent (200150%) of the fair market rent Fixed Rent payable by Subtenant for the entire Premisesmonth in which the Expiration Date of this Sublease shall occur, or and (y) two one hundred fifty percent (200150%) of the then fully escalated Base Yearly Rent and additional rent. Such rent shall required to be computed by Landlord and paid by Tenant Novartis for such month for the entire Building under the terms of the Xxxxxxxxx, plus all additional rent payable to Novartis under this Sublease for each month or any portion thereof that Subtenant shall continue to hold over. If Subtenant fails to surrender the Sublease Premises to Novartis in the condition required under the provisions of the Xxxxxxxxx on a monthly basis or before the Termination Date or Expiration Date, as the ease may be, Subtenant shall pay Novartis the holdover rent described in the immediately preceding sentence to Novartis and shall be payable on the first day of such holdover period indemnify and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedieshold Novartis harmless from all loss or liability, including Landlordwithout limitation, any claim made by Overlandlord or any successor tenant resulting from Subtenant’s right failure to evict Tenant surrender the Sublease Premises and to recover all damages, any attorney’s fees and Tenant shall save Landlord, its agents costs incurred by Novartis and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionOverlandlord.
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges shall, with the knowledge and consent of Landlord, continue to remain in the Premises after the Expiration Date, then and in that it is extremely important that event, Tenant shall, by virtue of this Article 17 become a tenant by the month at the rental per month agreed upon by Landlord have substantial advance notice and Tenant to be paid therefor (or, failing such agreement, one hundred fifty percent (150%) of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination Monthly Installments of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had in effect immediately prior to the Lease Term continued during such holdover period. ThereforeExpiration Date), if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of commencing said monthly tenancy with the first (1st) day after the Expiration Date. In such event, Tenaxx xxxll deliver to Landlord at least thirty (30) days' written notice of any intention to quit the Premises, and second Tenant shall be entitled to thirty (2nd30) months days' written notice to quit the Premises, except in the event of such holdovernonpayment of rent in advance or of the breach of any other covenant by Tenaxx, XX WHICH EVENT TENANT SHALL NOT BE ENTITLED TO ANY NOTICE TO QUIT, THE USUAL THIRTY (30) DAYS' NOTICE TO QUIT BEING HEREBY EXPRESSLY WAIVED. In the greater event that Tenant shall hold over after the Expiration Date without Landlord's knowledge or consent, then at any time prior to Landlord's acceptance of rent from Tenant as a monthly tenant hereunder, Landlord, at its option, may forthwith re-enter and take possession of the Premises without process, or by any legal process in force in the Commonwealth of Virginia, TENANT HEREBY WAIVING ANY NOTICE TO QUIT; provided, however, that (i) Tenant shall pay Landlord a fair rental value (but not as rent) equal to two and one hundred twenty-five percent half (125%2.5) times the greater of the fair market value rent for the entire PremisesPremises or the Monthly Installment of Base Rent plus all Additional Rent payable for the last month of the Term, for each month or portion thereof that Tenant remains in possession following the Expiration Date, and (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlorddefend, its agents indemnify and employees, hold Landlord harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all claims, losses, liabilities or damages which Landlord may suffer on account resulting from Tenaxx'x xailure to surrender possession of Tenant’s hold-over in the Premises after on the expiration or prior termination of the Lease Term; providedExpiration Date (including, howeverbut not limited to, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance any and not a tenancy at will. In no event shall all claims made by any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionsucceeding tenant).
Appears in 1 contract
Samples: Tcsi Corp
Holding Over. 22.1 Except for any permitted occupancy by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which under Article 29, if Tenant will vacate the Premisesor any party claiming by, and that if through or under Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of this Lease, the Lease Term or upon Landlord’s re-entry following continued occupancy of the Premises shall be that of a tenancy at sufferance. Tenant shall pay an Event amount (on a per month basis without reduction for partial months during the holdover) equal to (A) with respect to the first thirty (30) days of Defaultany holding over, then it will be conclusively presumed that 150% of the value to Tenant sum of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had Tenant’s Pro Rata Share of Excess Operating Expenses due for the Lease Term continued during such holdover period. Thereforeperiod immediately preceding the holdover, if Tenant (or anyone claiming through or under TenantB) does not immediately surrender with respect to the Premises or second thirty (30) days of any portion thereof upon the expiration or earlier termination holding over, 175% of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each sum of the first (1st) Base Rent and second (2nd) months Tenant’s Pro Rata Share of such Excess Operating Expenses due for the period immediately preceding the holdover, (C) with respect to any holding over after the second thirty (30) days, 200% of the greater of of: (i) one hundred twenty-five percent (125%) the sum of the fair market rent Base Rent and Tenant’s Pro Rata Share of Excess Operating Expenses due for the entire Premises, period immediately preceding the holdover; or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent gross rental for the entire Premises. Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease. No holdover by Tenant or payment by Tenant after the expiration or early termination of this Lease shall be construed to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. In addition to the payment of the amounts provided above, if Landlord is unable to deliver possession of the Premises to a new tenant, or (y) two hundred percent (200%) to perform improvements for a new tenant, as a result of the then fully escalated Base Rent Tenant’s holdover and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until fails to vacate the Premises have been vacated. Notwithstanding within 15 days after Landlord notifies Tenant of Landlord’s inability to deliver possession, or perform improvements, such failure shall constitute a Time Sensitive Default hereunder; and notwithstanding any other provision of this LeaseLease to the contrary, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remediesTENANT SHALL BE LIABLE TO LANDLORD FOR, including Landlord’s right to evict Tenant and to recover all damagesAND SHALL PROTECT LANDLORD FROM AND INDEMNIFY AND DEFEND LANDLORD AGAINST, and Tenant shall save LandlordALL LOSSES AND DAMAGES, its agents and employeesINCLUDING ANY CLAIMS MADE BY ANY SUCCEEDING TENANT RESULTING FROM SUCH FAILURE TO VACATE, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionAND ANY CONSEQUENTIAL DAMAGES THAT LANDLORD SUFFERS FROM THE HOLDOVER.
Appears in 1 contract
Samples: Office Lease (Rimini Street, Inc.)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Premises after the Term expires or is otherwise terminated without executing a new lease, Tenant will vacate the Premises, and that if Tenant fails shall be deemed to surrender be occupying the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereoftenant from month-to-month, far exceed the subject to all provisions, conditions and obligations of this Lease applicable to a month-to-month tenancy, except that (a) Tenant shall pay to Landlord Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased equal to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market greater of Base Rent payable by Tenant in the last Lease Year of the Term or Landlord’s then current base rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rentPremises according to Landlord’s rental rate schedule for prospective tenants, and (2b) for each either Landlord or Tenant may terminate the month- to-month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding tenancy at any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than time upon thirty (30) daysdays prior written notice to the other party. Any Notwithstanding anything to the contrary contained in this Section 16.2, Tenant shall have the option (the “Holdover Option”) to holdover in the Premises for a period of ninety (90) calendar days beyond the then scheduled expiration of the Term (such holdover period, the “Permitted Holdover Period”), subject to the following conditions: (i) Tenant shall deliver written notice (the “Holdover Notice”) to Landlord of such election no later than ninety (90) days prior to the expiration of the then Term; (ii) during the Permitted Holdover Period, Tenant shall be required to pay Landlord the same Rent payable under this Lease for the last full calendar month of the Term; (ill) Tenant shall not have the right to exercise the Holdover Option (or remain in the Premises during the Permitted Holdover Period) if at the time of delivery of the Holdover Notice or any time between the date of delivery of the Holdover Notice and the end of the Holdover Period, Tenant is in default under the Lease beyond any applicable notice and grace period; and (iv) during the Permitted Holdover Period, all of the terms and conditions of this Lease shall apply to Tenant’s occupancy of the Premises. Should the Tenant remain in the Premises beyond such ninety (90) day period Tenant shall be deemed a month-to-month tenant and the holdover rate to be paid provided herein shall apply. This holdover rental amount will be Landlord’s exclusive right and remedy against Tenant and will be deemed to cover all liabilities, obligation or charges which may be incurred by Landlord because of a tenancy at sufferance and not a tenancy at willholdover by Tenant. In no the event shall any holdover be deemed a permitted extension or renewal of Tenant holds over following the Lease TermPermitted Holdover Period, and nothing contained herein Tenant shall be construed to constitute liable for all of Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or direct and consequential damages, including costs, fees, expenses, damages and attorneys’ fees incurred by Landlord as a result of Tenant’s right holding over, including but not limited to, damages and expenses incurred by Landlord for its inability to possessiondeliver possession of the Premises to a new tenant (“Holdover Indemnity Obligations”).
Appears in 1 contract
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not holds over in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account Portion of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; providedTerm with respect to such Portion of the Premises or earlier termination thereof, howeverwith or without the express or implied consent of Landlord, that consequential damages such tenancy shall be available only if the holdover persists from month-to-month only, and shall not constitute a renewal hereof or an extension for more than thirty (30) days. Any any further term, and in such holdover case Base Rent shall be deemed payable at a monthly rate equal to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease TermTerm under this Lease with respect to such Tranche. Such month-to-month tenancy shall be subject to every other applicable term, covenant and nothing agreement contained herein herein. Tenant’s payment of Rent as set forth in this Article 16 shall be proportionately reduced for every Portion of the Premises vacated by Tenant during any holdover such that Tenant shall only pay Rent for those Portion(s) of the Premises actually occupied by Tenant during any holdover. Nothing contained in this Article 16 shall be construed to constitute Landlord’s as consent by Landlord to any holdover holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or to give Tenant any right with respect theretoother termination of this Lease. The provisions of this Section 22.1 expressly survive termination Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender any Portion of the Lease Premises within sixty (60) days after the termination or expiration of this Lease, and if Landlord has informed Tenant in writing that Landlord has an agreement with another tenant or occupant for any part of such Portion of the Premises, then Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from any claims made by such succeeding tenant or occupant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom. Tenant shall have the right to request that Landlord provide to Tenant a written notice setting forth Landlord’s good faith estimate of the maximum amount of consequential damages (including loss of profits, loss of business opportunity, loss of goodwill and loss of use) (“Holding Over Damages”) that Landlord will incur as the result of Tenant’s right failure to possessionsurrender the Premises following the expiration of this Lease. Within ten (10) business days after receipt of such request, Landlord shall provide Tenant a written notice setting forth Landlord’s good faith estimate of Holding Over Damages. Notwithstanding anything set forth in this Lease to the contrary, Landlord’s good faith estimate of Holding Over Damages shall be provided to Tenant solely as an accommodation and Landlord’s actual Holding Over Damages shall not be limited by such good faith estimate.
Appears in 1 contract
Samples: Service Agreement (Twilio Inc)
Holding Over. 22.1 Should Tenant acknowledges that it is extremely important that Landlord have substantial advance notice or any of its successors in interest continue to hold the Premises after termination of this Lease, whether such termination occurs by lapse of time or otherwise, with Landlord’s acquiescence, and without any distinct agreement between the parties, then for the first six (6) month period of such holding over by Tenant, such holding over shall constitute and be construed as a tenancy at will at a monthly rental equal to 125% of the date on which Tenant will vacate the Premises, monthly rental (including Base Monthly Rental and that if Tenant fails to surrender the Premises or any portion thereof adjusted and additional rent) provided herein at the expiration or earlier termination time of such termination. At all times following the Lease Term or upon Landlord’s re-entry following an Event first six (6) month period of Defaultsuch holding over by Tenant, such holding over shall then it will constitute and be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord construed as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased month to month tenancy at will at a monthly rental equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) to one hundred twenty-five fifty percent (125150%) of the fair market rent for the entire Premises, or monthly rental (ii) one hundred twenty-five percent (125%) of the then fully escalated including Base Rent Monthly Rental and any adjusted and additional rent, ). At all times during the period of such holding over by Tenant (but only during such period of such holding over by Tenant and (2) for each month of holdover thereafter, not prior to the greater of (x) two hundred percent (200%) expiration of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision normal term of this Lease), Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the be entitled to terminate this Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than upon thirty (30) daysdays prior written notice to Landlord. Any Similarly, at all times following the first six (6) month period of such holdover holding over by Tenant, Landlord shall be deemed entitled to terminate this Lease upon sixty (60) days prior written notice to Tenant and at all times following the expiration of such sixty (60) day notice period from Landlord to Tenant, Tenant shall be regarded as a tenancy tenant at sufferance and not as a tenant at will; subject, however, to all the terms, provisions, covenants and agreements on the part of Tenant hereunder. At all times during the period of such tenancy at will. In sufferance, no event payments of money by Tenant to Landlord after the termination of this Lease shall any holdover be deemed a permitted reinstate, continue, renew or extend the Term and no extension or renewal of this Lease after the Lease Term, and nothing contained herein termination hereof shall be construed valid unless and until the same shall be reduced to constitute Landlord’s consent writing and signed by both Landlord and Tenant. With respect to any holdover or such tenancy at sufferance, Tenant shall be liable to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or Landlord for all damage which Landlord shall suffer by reason of Tenant’s right holding over and Tenant shall indemnify, defend and hold Landlord harmless against all claims made by any other tenant or prospective tenant against Landlord resulting from delay by Landlord in delivering possession of the Premises to possessionsuch other tenant or prospective tenant.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does shall not immediately surrender the Premises or any portion thereof upon to Landlord on the expiration Expiration Date or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy monthly tenant at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal upon all of the Lease Termterms and conditions of this Lease; provided, and nothing contained herein shall that the monthly Base Rent shall, for the first (1st) month of any such holdover, be construed to constitute Landlord’s consent to 125% and, thereafter, 150%, in any holdover such case, of the monthly Base Rent in effect during the last month of the Term (or to give Tenant that would be in effect irrespective of any right with respect theretocredits, abatements, offsets or other reductions). The provisions of this Section 22.1 expressly survive Article 37 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or under Applicable Law. If Tenant shall hold over after the Expiration Date or earlier termination of this Lease, and Landlord shall desire to regain possession of the Lease Premises, then Landlord may forthwith re-enter and take possession of the Premises by any legal process in force in the state in which the Project is located, and, if Tenant holds over after Landlord delivers at least one hundred fifty (150) days prior written notice to Tenant (even if such notice is delivered prior to the Expiration Date or earlier termination of Tenantthis Lease) (a) stating that Landlord does not consent to any such holding over, and (b) further stating, in all-capital letters, (i) that Landlord believes it has a replacement tenant for the Premises, (ii) the estimated commencement date for the occupancy of such replacement tenant, and (iii) that, if Tenant holds over at any time after the later of the Expiration Date or the date that is one hundred fifty (150) days after the date of such notice, Landlord will suffer consequential damages (such written notice shall be hereinafter referred to as the “Consequential Damages Notice”), then, in such event, and without limitation as to Landlord’s right to possessionpursue unlawful detainer proceedings against Tenant in connection with any such holding over by Tenant, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against the cost of unlawful detainer proceedings instituted by Landlord against Tenant, increased construction costs to Landlord as a result of Landlord’s inability to timely commence construction of tenant improvements for a replacement tenant for the Premises, lost rents that result from Landlord’s inability to timely deliver the Premises to such new tenant, and any Claim against Landlord made by the replacement tenant. For the avoidance of doubt, the parties agree that Tenant shall not be liable for any other incidental, indirect, special or consequential damages, or for lost profits, under this Lease.
Appears in 1 contract
Samples: Office Lease (SPS Commerce Inc)
Holding Over. 22.1 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice remains in possession of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion part thereof at after the expiration or earlier termination of the Lease Term or upon LandlordTerm, such occupancy shall be a tenancy at sufferance at a rental in the amount of: 1) if, not later than 90 days prior to the expiration of the Term, Tenant delivers written notice to Landlord of Tenant’s re-entry following an Event of Defaultintent to hold over, then it will be conclusively presumed that (a) during the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination first 60 days of the Lease Term or upon Landlord’s re-entry following an Event of Defaulthold over, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for last month’s Base Rent plus all other charges payable under this Lease and upon all of the entire Premisesother terms of this Lease and (b) thereafter, or (ii) one hundred twenty-five fifty percent (125150%) of the then fully escalated last month’s Base Rent plus all other charges payable under this Lease and additional rentupon all of the other terms of this Lease, and (2) for each month if Tenant fails to deliver written notice to Landlord of holdover thereafterTenant’s intent to hold over not later than 90 days prior to the expiration of the Term, the greater of (x) two then one hundred fifty percent (200150%) of the fair market rent last month’s Base Rent plus all other charges payable under this Lease and upon all of the other terms of this Lease. However, if Landlord has executed a lease with another tenant for all or a portion of the entire PremisesPremises and any unauthorized holding over will delay or prevent Landlord from delivering possession of all or a part of the Premises to another tenant or from commencing work to make all or part of the Premises available to another tenant, or (y) two and Landlord has delivered written notice to Tenant specifying the same, then from the date of Landlord's delivery of such notice the rental rate applicable to such tenancy at sufferance shall be one hundred fifty percent (200150%) of the then fully escalated last month’s Base Rent (notwithstanding any previous notice from Tenant as set forth above) plus all other charges payable under this Lease and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on upon all of the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision terms of this Lease. Notwithstanding the foregoing, Landlord’s 's acceptance of such rent Rent from Tenant during any period of tenancy at sufferance shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy the consent of Landlord to Tenant's continued occupancy of the Premises, and if Tenant remains in possession of the Premises or any part thereof after the expiration of the Term without Landlord’s consent, Landlord shall have all remedies at sufferance and not a tenancy at willlaw or in equity. In no event shall any holdover be deemed a permitted extension or renewal addition, if Tenant remains in possession of the Lease TermPremises or any part thereof for more than sixty (60) days following the expiration of the Term with or without Landlord's consent, then, in addition to Landlord's remedies as set forth above, Tenant shall defend and nothing contained herein shall be construed indemnify Landlord from all loss, liabilities, damages and costs, including consequential damages and attorneys’ fees, incurred by Landlord and resulting from Tenant’s failure to constitute Landlord’s consent surrender possession of the Premises to any holdover or to give Tenant any right with respect theretoLandlord when and as required under this Lease. The provisions of this Section 22.1 expressly shall survive the expiration or earlier termination of the Lease or of Tenant’s right to possessionthis Lease.
Appears in 1 contract
Samples: Lease Agreement (Exelixis, Inc.)
Holding Over. 22.1 Tenant acknowledges that it is extremely important that Landlord have substantial advance notice Section 26 of the date on which current Lease, as amended, is deleted in its entirety and replaced with the following: If Tenant will vacate holds over after the Premises, and that if Tenant fails to surrender the Premises Expiration Date or any portion thereof at the expiration or earlier other termination of the Lease, as amended, such holding over shall not be a renewal of this Lease Term or upon Landlord’s rebut shall create a tenancy-entry following an Event at-sufferance. Tenant shall continue to be bound by all the terms and conditions of Defaultthis Lease, then it will be conclusively presumed except that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first thirty (1st30) and second (2nd) months days of such holdover, the greater of tenancy-at-sufferance Tenant shall pay to Landlord (i) Base Rent at the rate equal to one hundred twenty-five fifty percent (125150%) of that Base Rent provided for as of the fair market rent for the entire Premisesimmediate preceding expiration or termination date, or and (ii) one hundred twenty-five percent any and all Operating Expenses and other forms of Additional Rent Payable under this Lease. In the event Tenant holds over for a period longer than thirty (125%30) of the then fully escalated Base Rent and additional rentdays, and Tenant shall be obligated to pay to Landlord (2) for each month of holdover thereafter, the greater of (xi) two hundred percent (200%) of the fair market rent that Base Rent provided for the entire Premises, or (y) two hundred percent (200%) as of the then fully escalated Base Rent immediate preceding expiration or termination date and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against (ii) any and all Operating Expenses and other forms of Additional Rent Payable under this Lease. The increased Rent during such holding over is intended to compensate Landlord partially for losses, damages which and expenses, including frustrating and delaying Landlord’s ability to secure a replacement tenant. If Landlord may suffer loses a prospective tenant because Tenant fails to vacate the Premises or Expansion Space, if applicable, on account the Expiration Date or other termination of the Lease, as amended, after notice to do so, then Tenant will be liable for such damages as Landlord can prove because of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed wrongful failure to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possessionvacate.
Appears in 1 contract
Holding Over. 22.1 In the event of holding over by Tenant acknowledges that it is extremely important that Landlord have substantial advance notice after expiration or tars~lnatlon of this lease Nlthout the pclor weltten consent of Landlord, Tenant shall pay, as liquidated damages, the amount of one hundred fifty percent (150X) of the date on which Tenant will vacate the Premises, nonthly rental (Including all tase Rental and that if Tenant fails Tenant's Additlonal Rental) Nhich was due end peyable l~ediately pclor to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) one hundred twenty-five percent (125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict for the entire holdover period. Ro holdine over by Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination term of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall this lease ahall be construed to constitute Landlord’s consent extend the lease; In the event of eny unauthorized holding over, Tenant shall also Indemnify Landlord against all claims or de~agea by eny other tenant to whon Landlord a~ay have leased all or any holdover or to give Tenant any right with respect thereto. The provisions part of the leased premises effective upon the termination of this Section 22.1 expressly survive termination lease. Any holding over with the prior consent of Landlord in writing shall thereafter constitute thla lease e leesx xxxm e;onth-to-month any holding over without the prior consent of Landlord In writing shall create a temncy at sufferance relationship with Tenant. As used In this lease, the tera aMarket Base Rental Rate" shall _an the annual rental rates then being charged in the "North Belt" area of Houston, Texas, for space comparable to the space for which the Market Base Rental Rate is being determined (taking Into consideration age, Improvements ptovided quality and location of the Lease applicable building, rental concessions tsuch a; abatements or lease assurptlonsi, and the tl_ the particular rate under consideration became effective). It Is agreed that bona fide Nritten offers to lease the relevant space nade to Landlord by third parties (at arm's-length) nay be used by Landlord as an Indlcatlon of Tenant’s right to possessionMarket Base Rental Rate.
Appears in 1 contract
Holding Over. 22.1 41.01 If Tenant acknowledges that it is extremely important that Landlord have substantial advance notice holds possession of the date on which Demised Premises after the Term, Tenant will vacate shall become a month-to-month tenant under the Premisesprovisions herein provided. In such event, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first ninety (1st90) and second (2nd) months days of such holdover, the greater of (i) monthly Fixed Rent will be increased to an amount equal to one hundred twenty-five percent (125%) percent of the fair market monthly rent for payable during the entire Premiseslast month of the Term, or (ii) and any other sums due under this Lease will be payable in the amount and at the times specified in this Lease; and thereafter monthly Fixed Rent will be increased to one hundred twenty-five percent fifty (125150%) percent of the then fully escalated Base Rent and additional rentmonthly rent payable during the last month of the Term, and (2) any other sums due under this Lease will be payable in the amount and at the times specified in this Lease. Tenant shall pay such rents without the requirement for each month demand or notice by Landlord to Tenant demanding delivery of holdover thereafter, the greater of (x) two hundred percent (200%) possession of the fair market rent for the entire PremisesDemised Premises (but all Real Estate Taxes, or (y) two hundred percent (200%) of the then fully escalated Base Rent Utility Charges and additional rent. Such rent shall be computed by Landlord and paid other amounts payable by Tenant on a monthly basis and shall continue as provided in this Lease), which sum shall be payable in advance on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damagesmonth, and such tenancy shall continue until terminated by Landlord by notice to Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than given at least thirty (30) days. Any such holdover shall be deemed days prior to be a tenancy the intended date of termination (which notice may, at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal Landlord’s option, precede the expiration of the Lease Term), and nothing contained herein or until Tenant shall have given to Landlord, at least sixty (60) days prior to the intended date of termination, a written notice of intent to terminate such tenancy, which termination date must be construed as of the end of a calendar month. The time limitations described in this Article 41 shall not be subject to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoextension for Force Majeure. The provisions of this Section 22.1 expressly Article 41 shall not be construed to relieve Tenant from liability to Landlord for damages resulting from any such holding over, or preclude Landlord from implementing summary dispossess proceedings; provided, in no event shall Tenant be liable to Landlord for any consequential, special or punitive damages as a result of any holdover tenancy hereunder. The provisions of this Article 41 shall survive the expiration or sooner termination of the Lease or of Tenant’s right to possessionthis Lease.
Appears in 1 contract
Holding Over. 22.1 If after the expiration of this Lease, and provided that no uncured Default exists on the expiration of this Lease and that Tenant acknowledges has provided Landlord with at least 90 days advance written notice of its election to hold over under the terms of this section at the end of the Term of this Lease, Tenant may elect, as set forth in its written notice, to remain in possession of the Premises and continue to pay Rent for the entire Premises for one to six months following the expiration of this Lease. Tenant’s notice shall designate the number of months that it is extremely important desires to hold over pursuant to this section. Any such possession shall be subject to all provisions hereof (other than those relating to the Term of this Lease) but at a Monthly Rent equivalent to 125% of the last monthly Rent paid during the immediate prior Term of this Lease. Notwithstanding the foregoing, Landlord shall have the right to prohibit Tenant from exercising its short term extension option pursuant to this paragraph by written notice to Tenant given within five (5) business days of receipt of Tenant’s extension notice in the event that Landlord have substantial advance notice has a prospect for all or any portion of the date on which Tenant will vacate the Premises, and that if . If Tenant fails to surrender give notice at least 90 days in advance, and, unless Landlord expressly agrees otherwise in writing, if Tenant shall retain possession of the Premises or any portion part thereof at the after expiration or earlier termination of this Lease, Tenant shall occupy the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord Premises as a result thereoftenant at sufferance, far exceed the Base Rent and additional rent except that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not immediately surrender the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be increased to equal (1) for each of the first (1st) and second (2nd) months of such holdover, the greater of (i) pay Landlord one hundred twenty-five fifty percent (125150%) of the fair market rent amount of Rent then applicable (or the highest amount permitted by Law, whichever shall be less) on a per month basis. In addition, Tenant shall be responsible for all consequential damages sustained by Landlord on account of Tenant holding over if Tenant holds over for more than sixty (60) days. The foregoing provisions shall not serve as permission for Tenant to holdover, nor serve to extend the entire Term (although Tenant shall remain bound to comply with all provisions of this Lease until Tenant vacates the Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on subject to the first day provisions of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and Tenant shall save Landlord, its agents and employees, harmless and will exonerate, defend and indemnify Landlord, its agents and employees, from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, however, that consequential damages shall be available only if the holdover persists for more than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect theretoArticle 11). The provisions of this Section 22.1 expressly survive termination paragraph do not waive Landlord's right of the Lease re-entry or of Tenant’s right to possessionregain possession by actions at law or in equity or any other rights hereunder, and any receipt of payment by Landlord shall not be deemed a consent by Landlord to Tenant's remaining in possession or be construed as creating or renewing any lease or right of tenancy between Landlord and Tenant.
Appears in 1 contract
