Holdover Term Sample Clauses

Holdover Term. If Licensee fails to remove the Approved Equipment at the expiration of the Term, such failure shall be deemed to extend the Term of this Agreement on a month-to-month basis under the same terms and conditions herein except that (i) a monthly license fee shall be due on or before the first day of every calendar month during such month-to-month term in an amount equal to one hundred fifty percent (150%) of the Monthly License Fee in effect for the last month of the Term prior to the commencement of such month-to-month term (“Holdover Fee”), such Holdover Fee to escalate annually on the anniversary of the Commencement Date by an amount equal to six percent (6%) of the Holdover Fee in effect for the month immediately prior to the month in which such escalation takes place, and (ii) the month-to-month extension shall be terminable upon fifteen (15) days’ prior written notice from either Licensor or Licensee to the other; provided, however, nothing contained herein shall grant Licensee the unilateral right to extend the Term of this Agreement after the expiration of the Term. In addition to the monthly license fee payable to Licensor in the event of an extension under this Subsection 6(c), Licensee agrees to indemnify and hold Licensor harmless from any Damages arising out of or in connection with the extension, the operation of the Approved Equipment at the Tower Facility and Licensee’s failure to perform all of its obligations under this Agreement at the termination or earlier expiration of this Agreement.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Holdover Term. This License shall renew on a year to year basis if neither party provides the other with notice of termination no less than ninety (90) days prior to the expiration of the last Renewal Term. Either party may terminate this License during each such annual renewal period by providing the other with notice of termination no less than thirty (30) days prior to the end of each such annual renewal period.
Sample 1Sample 2
Holdover Term. At the end of the Term this Lease shall continue on a month-to-month tenancy (the “Holdover Term”). With thirty (30) days written notice, either party may terminate this Lease during the Holdover Term. The Holdover Term created by this Article will be subject to all remaining terms and conditions of this Lease.
Sample 1
Holdover Term. ‌ Licensee will have no right or privilege whatsoever to use or occupy a License Area or an Access/Utilities Route in any manner or for any purpose after this Master License expires or terminates. In the event that Licensee continues to use or occupy the License Area or Access/Utilities Route after this Master License expires or terminates, this Master License will automatically convert to a month-to-month license on the same terms and conditions (the “Holdover Term”), except that: (1) the License Fee (as defined below in Section 5.1) will be automatically increased to one hundred fifty percent (150%) over the License Fee payable in the immediately previous year (the “Holdover Fee”), and will continue to increase in accordance with Section 5.2 (Annual License Fee Adjustments); and (2) either the City or Licensee may terminate such license on 30 days’ written notice for any or no reason.
Sample 1
Holdover Term a. XXXXXX’s right to possess the Premises shall immediately terminate at the end of the Term or within ninety (90) days after the earlier termination of this Lease unless the Parties are then currently negotiating in good faith to reach a new agreement.
Sample 1
Holdover Term. In the event Lessee becomes a holdover tenant following the expiration of the initial Term or any renewal term hereunder, the rent shall be Twelve Thousand Three Hundred Seventy Five Dollars ($12,375.00) per month during each month of the holdover period.
Sample 1
Holdover Term. In the event Subtenant holds over and remains in possession of the Premises with the consent of Sublandlord after the expiration or earlier termination of this Sublease Agreement, such holdover shall not be deemed to extend this Sublease Agreement, and Subtenant shall be deemed to hold the Premises as a tenant from month-to-month, and all of the terms, conditions, and covenants of this Sublease Agreement shall be applicable during the holdover period and Subtenant specifically agrees to indemnify and hold Sublandlord harmless for any and all liability, damages, costs and expenses for which Sublandlord may be liable to Prime Landlord or a subsequent tenant or subtenant as a result of such holdover by Subtenant, which may include consequential damages and attorneys’ fees. Notwithstanding the foregoing, no holdover by Subtenant shall operate to extend this Sublease Agreement, and Subtenant shall vacate and surrender the Premises to Sublandlord upon Subtenant’s being given thirty (30) days prior written notice from Sublandlord to vacate.
Sample 1
AutoNDA by SimpleDocs
Holdover Term. In the event that Lessee becomes a holdover tenant following the Initial Term due to its failure to exercise its option to renew under the terms the Lease, or following the Renewal Term, the rent shall be 150% of the Rent rate in effect on the last day of the Initial Term or Renewal Term as the case may be, payable in monthly installments for the holdover period.
Sample 1
Holdover Term. If WANRack’s Facilities remain in the ROW, and WANRack continues to use such Facilities beyond the expiration of this Agreement and continues to pay the annual fees, WANRack shall be considered to be in a “Holdover Term,” subject to the terms and conditions of this Agreement. Such Holdover Term, however, shall not exceed 60 days beyond the expiration of the Term or until the date of the first City Council meeting scheduled immediately after the expiration of the Term, and no permits will be issued to WANRack by the City until a new Agreement has been approved by the City Council.
Sample 1

Related to Holdover Term

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Lease Term The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.

Time is Money Join Law Insider Premium to draft better contracts faster.