Common use of Condition of Premises on Surrender Clause in Contracts

Condition of Premises on Surrender. 4.2.1 Except as otherwise provided in this Section 4.2, upon the Termination Date, all Alterations (other than Tenant’s Trade Fixtures) shall belong to Landlord without compensation, and title shall pass to Landlord under this Lease. On the Termination Date, Tenant shall give Landlord possession of the Premises, together with all such Alterations (other than Tenant’s Trade Fixtures), in the good, broom clean condition, free of all debris, excepting only ordinary wear and tear and damage that Tenant is not required to repair or restore under this Lease. On or prior to the Termination Date, Tenant shall also (a) remove all of Tenant’s furniture, Trade Fixtures, furnishings, equipment belonging to the Tenant, and other personal property (collectively, the “Personalty”), and (b) repair any damage caused by the removal of such Personalty. All of Tenant’s Personalty not so removed by Tenant, may be removed from the Premises by Landlord and stored, at Tenant’s sole risk and expense, and in any event, Landlord shall not be responsible for the value, preservation, or safekeeping thereof. Tenant shall pay to Landlord, upon demand, all reasonable expenses so incurred by Landlord, including the cost of repairing any damage caused by removal and storing such Personalty (collectively, “Tenant’s Property”). Any such Tenant’s Property not claimed by Tenant within sixty (60) days after Txxxxx’s surrender of the Premises shall, at Landlord’s option, be deemed either abandoned or conveyed by Tenant to Landlord under this Lease without further payment or credit by Landlord to Tenant. On the Termination Date, Tenant shall assign to Landlord all manufacturers’ and contractors’ warranties with respect to the Premises and the Alterations (including all fixtures therein or thereon but excluding Tenant’s Trade Fixtures) and Tenant shall use commercially reasonable efforts obtain the consent of the issuers of such warranties (which may include, without limitation, the payment of an assignment fee), to the extent that such consent is required for the assignment to Landlord.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Ionis Pharmaceuticals Inc), Lease Agreement (Ionis Pharmaceuticals Inc)

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Condition of Premises on Surrender. 4.2.1 Except as otherwise provided in this Section 4.25.2, upon the Termination Date, all Alterations, whether Landlord Alterations (other than Tenant’s Trade Fixtures) or Tenant Alterations, shall belong to Landlord without compensation, and title shall pass to Landlord under this Lease. On the Termination Date, Tenant shall give Landlord possession of the Premises, together with all such Alterations (other than Tenant’s Trade Fixtures)Alterations, in the goodsame condition as when received or first installed, broom clean condition, and free of all debris, excepting only ordinary wear and tear and damage that Tenant is not required to repair or restore under this Lease. Notwithstanding the foregoing, if Landlord so elects by Notice given to Tenant prior to the Termination Date, then on or prior to the Termination Date Tenant shall remove any Alterations designated in such Notice and repair any damage caused by such removal. On or prior to the Termination Date, Date Tenant shall also (a) remove all of Tenant’s furniture, Trade Fixtures, furnishings, equipment belonging electronic data processing equipment, and other equipment, and movable partitions of less than full height from floor to the Tenant, ceiling and other personal property (collectively, the “Personalty”)) and trade fixtures, including all communications or computer wires, cables, fibers and (b) repair connections, whether inside walls, under any damage caused by the removal of such Personaltyraised floor or above any ceiling. All of Tenant’s Personalty and trade fixtures not so removed by Tenant, may be removed from the Premises by Landlord and stored, at Tenant’s sole risk and expense, expense and in any event, Landlord shall not be responsible for the value, preservation, or safekeeping thereof. Tenant shall pay to Landlord, upon demand, all reasonable expenses so incurred by Landlord, including the cost of repairing any damage caused by removal and storing such Personalty (collectively, “Tenant’s Property”)and/or trade fixtures. Any such Tenant’s Property Personalty and trade fixtures not claimed by Tenant within sixty (60) 30 days after TxxxxxTenant’s surrender of the Premises shall, at Landlord’s option, be deemed either abandoned or conveyed by Tenant to Landlord under this Lease without further payment or credit by Landlord to Tenant. On the Termination Date, Tenant shall assign to Landlord all manufacturers’ and contractors’ warranties with respect to the Premises and the Alterations (including all fixtures therein or thereon but excluding Tenant’s Trade Fixtures) and Tenant shall use commercially reasonable efforts obtain the consent of the issuers of such warranties (which may include, without limitation, the payment of an assignment fee), to the extent that such consent is required for the assignment to Landlord.

Appears in 1 contract

Samples: Lease Agreement (Point.360)

Condition of Premises on Surrender. 4.2.1 Except as otherwise provided in this Section 4.25.2, upon the Termination Date, all Alterations, whether Landlord Alterations (other than Tenant’s Trade Fixtures) or Tenant Alterations, shall belong to Landlord without compensation, and title shall pass to Landlord under this Lease. On the Termination Date, Tenant shall give Landlord possession of the Premises, together with all such Alterations (other than Tenant’s Trade Fixtures)Alterations, in the goodsame condition as when received or first installed, broom clean condition, and free of all debris, excepting only ordinary wear and tear and damage that Tenant is not required to repair or restore under this Lease. On or prior to the Termination Date, Tenant shall also (a) remove all of Tenant’s furniture, Trade Fixturesportable trade fixtures, furnishings, electronic data processing equipment, and other equipment belonging (with the exception of security systems servicing the Premises, which shall remain the property of Landlord), and movable partitions of less than full height from floor to the Tenant, ceiling and other personal property (collectively, the “Personalty”), ) and (b) repair any damage caused by the removal of such Personaltytrade fixtures. All of Tenant’s Personalty and portable trade fixtures not so removed by Tenant, may be removed from the Premises by Landlord and stored, at Tenant’s sole risk and expense, expense and in any event, Landlord shall not be responsible for the value, preservation, or safekeeping thereof. Tenant shall pay to Landlord, upon demand, all reasonable expenses so incurred by Landlord, including the cost of repairing any damage caused by removal and storing such Personalty and/or trade fixtures (collectively, “Tenant’s Property”). Any such Tenant’s Property not claimed by Tenant within sixty (60) days after TxxxxxTenant’s surrender of the Premises shall, at Landlord’s option, be deemed either abandoned or conveyed by Tenant to Landlord under this Lease without further payment or credit by Landlord to Tenant. On the Termination Date, Tenant shall assign to Landlord all manufacturers’ and contractors’ warranties with respect to the Premises and the Alterations (including all fixtures therein or thereon but excluding Tenant’s Trade Fixtures) and Tenant shall use commercially reasonable efforts obtain the consent of the issuers of such warranties (which may include, without limitation, the payment of an assignment fee), to the extent that such consent is required for the assignment to Landlord.

Appears in 1 contract

Samples: Lease Agreement (Innovative Industrial Properties Inc)

Condition of Premises on Surrender. 4.2.1 Except as otherwise provided in this Section 4.2, upon the Termination Date, all Alterations (other than Tenant’s Trade Fixtures) shall belong to Landlord without compensation, and title shall pass to Landlord under this Lease. On the Termination Date, Tenant shall give Landlord possession of the Premises, together with all such Alterations (other than Tenant’s Trade Fixtures)) and the LCW by Tenant, in the good, broom clean condition, free of all debris, excepting only ordinary wear and tear and damage that Tenant is not required to repair or restore under this Lease. On or prior to the Termination Date, Tenant shall also (a) remove all of Tenant’s furniture, Trade Fixtures, furnishings, equipment belonging to the Tenant, and other personal property (collectively, the “Personalty”), and (b) repair any damage caused by the removal of such Personalty. All of Tenant’s Personalty not so removed by Tenant, may be removed from the Premises by Landlord and stored, at Tenant’s sole risk and expense, and in any event, Landlord shall not be responsible for the value, preservation, or safekeeping thereof. Tenant shall pay to Landlord, upon demand, all reasonable expenses so incurred by Landlord, including the cost of repairing any damage caused by removal and storing such Personalty (collectively, “Tenant’s Property”). Any such Tenant’s Property not claimed by Tenant within sixty (60) days after TxxxxxXxxxxx’s surrender of the Premises shall, at Landlord’s option, be deemed either abandoned or conveyed by Tenant to Landlord under this Lease without further payment or credit by Landlord to Tenant. On the Termination Date, Tenant shall assign to Landlord all manufacturers’ and contractors’ warranties with respect to the Premises and the Alterations (including all fixtures therein or thereon but excluding Tenant’s Trade Fixtures) and Tenant shall use commercially reasonable efforts obtain the consent of the issuers of such warranties (which may include, without limitation, the payment of an assignment fee), to the extent that such consent is required for the assignment to Landlord.

Appears in 1 contract

Samples: Lease Agreement (Ionis Pharmaceuticals Inc)

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Condition of Premises on Surrender. 4.2.1 Except as otherwise provided in this Section 4.25.2, upon the Termination Date, all Alterations, whether Landlord Alterations (other than Tenant’s Trade Fixtures) or Tenant Alterations, shall belong to Landlord without compensation, and title shall pass to Landlord under this Lease. On the Termination Date, Tenant shall give Landlord possession of the Premises, together with all such Alterations (other than Tenant’s Trade Fixtures)Alterations, in the goodsame condition as when received or first installed, broom clean condition, and free of all debris, excepting only ordinary wear and tear and damage that Tenant is not required to repair or restore under this Lease. On or prior to the Termination Date, Tenant shall also (a) remove all of Tenant’s 's furniture, Trade Fixturestrade fixtures, furnishings, electronic data processing equipment, and other equipment belonging to the TenantTenant (with the exception of security systems servicing the Premises, which shall remain the property of Landlord), and movable partitions of less than full height from floor to ceiling and other personal property (collectively, the "Personalty"), and (b) repair any damage caused by the removal of such Personalty. All of Tenant’s 's Personalty not so removed by Tenant, may be removed from the Premises by Landlord and stored, at Tenant’s 's sole risk and expense, expense and in any event, Landlord shall not be responsible for the value, preservation, or safekeeping thereof. Tenant shall pay to Landlord, upon demand, all reasonable expenses so incurred by Landlord, including the cost of repairing any damage caused by removal and storing such Personalty (collectively, "Tenant’s 's Property"). Any such Tenant’s 's Property not claimed by Tenant within sixty (60) days after Txxxxx’s Tenant's surrender of the Premises shall, at Landlord’s 's option, be deemed either abandoned or conveyed by Tenant to Landlord under this Lease without further payment or credit by Landlord to Tenant. On the Termination Date, Tenant shall assign to Landlord all manufacturers' and contractors' warranties that are assignable with respect to the Premises and the Alterations (including all fixtures therein or thereon but excluding Tenant’s Trade Fixtures) and thereon); Tenant shall use commercially reasonable efforts cooperate with Landlord to obtain the consent of the issuers of such warranties (which may include, without limitation, the payment of an assignment fee)warranties, to the extent that such consent is required for the assignment to Landlord.

Appears in 1 contract

Samples: Lease Agreement (Innovative Industrial Properties Inc)

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