End of Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.
Appears in 2 contracts
Samples: Office Lease (Tufin Software Technologies Ltd.), Office Lease (Tufin Software Technologies Ltd.)
End of Term. Section 19.1. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant’s Property from the provisions Premises, and this obligation shall survive the expiration or sooner termination of Article 7 hereof the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding such Saturday or Sunday.
Section 19.2. Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord on the Expiration Dateand for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder under this Lease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over, an amount equal to the greater of (a) two (2) times the Fixed Rent and Additional Rent payable under this Lease for the last full calendar month of the Term, or (b) two (2) times the fair market rental value of the Premises for such month (as determined by Landlord based upon the then most recent leases of space in the Improvements). In addition, Tenant shall be liable to Landlord for (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”) in order to induce such New Tenant not to terminate its lease by reason of the holding-over by Tenant, and (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. The provisions of this Section 19.2 shall not in any way be deemed to (A) permit Tenant to remain in possession of the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal or (B) imply any right of Tenant to one hundred twenty five (125%) use or occupy the Premises upon expiration or termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 19. The provisions of Tenant’s obligations under this Section 24.21 Article 19 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 2 contracts
Samples: Master Lease Agreement (BlueLinx Holdings Inc.), Master Lease Agreement (BlueLinx Holdings Inc.)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Dateits property. Tenant agrees to it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to one hundred twenty five (125%) of the greater of (i) one and one-half (1 1⁄2) times the aggregate of that portion of the Base Rent, Escalation average Rent and other items of Rental which were was payable per month under this Lease during the last month six months of the Term Term, for the period from the Expiration Date through the thirtieth (30) day thereafter, and (ii) two (2) times the fair market value as reasonably determined by Landlord average Rent which was payable per month under this Lease during the last six months of the Term, for the next ninety period from the thirty-first (9031st) daysday after the Expiration Date through the date upon which possession of the Premises is surrendered by Tenant in accordance with the provisions of this Lease, and thereafter in each case, Tenant shall pay Additional Rent as is otherwise due and owing pursuant to Landlord on account of use and occupancy this Lease. The aforesaid obligations shall survive the expiration or sooner termination of the Term of this Lease. At any time during the Term of this Lease, Landlord may exhibit the Premises for each month and prorated for each portion to prospective purchasers or mortgagees of any month during which Landlord’s interest therein. During the last year of the term of this Lease, Landlord may exhibit the Premises to prospective tenants. Notwithstanding anything to the contrary contained in this Lease, in the event Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base RentTerm, Escalation Rent but vacates and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of surrenders the Premises without written consent on or prior to the thirtieth (30*) day after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant but otherwise in accordance with the provisions terms, covenants and conditions of this Section 24.21. The provisions of this Section 24.21 Lease, then Tenant shall survive the Expiration Datenot be liable for consequential damages in connection with such holding over.
Appears in 2 contracts
Samples: Lease Agreement (Schrodinger, Inc.), Lease Agreement (Schrodinger, Inc.)
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, Premises Equipment, and Tenant’s Alterations (as identified by Landlord pursuant to Section 4.3), vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise Tenant shall remove all of Tenant’s Property from the Premises and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on a day that is not a Business Day, this Lease shall expire on the Business Day immediately following. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under any Law in compliance connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord on the Expiration Dateand for any prospective tenant. Tenant agrees therefor covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder under this Lease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided hereinapplicable Laws, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over over, an amount equal to the greater of (a) one and one half (1.50) times the Fixed Rent and Additional Rent payable under this Lease for the last full calendar month of the Term, or (b) one and one half (1.50) times the fair market rental value of the Premises for such month (as determined by Landlord based upon the then most recent arms length leases of comparable space in the Building). The provisions of this Section 20.2 shall not in any way be deemed to (A) permit Tenant to remain in possession of the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal or (B) imply any right of Tenant to one hundred twenty five (125%) use or occupy the Premises upon expiration or termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant’s obligations under this Section 24.21 Article 20 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Emdeon Inc.), Lease Agreement (Emdeon Inc.)
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant's Property from the Premises, and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any subtenant of Tenant remaining in possession of the Premises must be surrendered after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant, therefore, covenants that if for any reason Tenant or any subtenant of Tenant shall fail to Landlord on the Expiration Date. Tenant agrees to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant's continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a "month-to-month" tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over over, an amount equal to two (2) times the total monthly amount of Fixed Rent and Additional Rent payable hereunder. The provisions of this Section 20.2 shall not in any way be deemed to (a) permit Tenant to remain in possession of the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month or (b) imply any right of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of or occupy the Premises for each month and prorated for each portion upon expiration or termination of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant's obligations under this Section 24.21 Article shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Ibasis Inc), Lease Agreement (Fibernet Telecom Group Inc\)
End of Term. Upon Lessee shall surrender the premises to Lessor at the expiration or other termination of this Lease with premised in as good order and condition as they were delivered to Lessee at the commencement of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under by fire or other casualty in accordance with paragraph 11 of this Lease. Any defects in the terms premises discovered by Lessee within thirty (30) days of the Commencement Date shall be listed on an exhibit by Lessee, acknowledged by Lessor and attached hereto. Lessee shall also (except as otherwise provided herein) remove all of its personal property from the premises at the expiration of the term of this Lease exceptedand restore the premises to their original condition, except for reasonable wear and otherwise in compliance with the provisions of Article 7 hereof Tenant tear and damage by fire and other casualty. Lessee acknowledges that possession of the Premises premises must be surrendered to Landlord on Lessor at the Expiration Dateexpiration or sooner termination of the term of this Lease. Tenant Lessee agrees to it shall indemnify and save Landlord Lessor harmless from and against all cost, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant Lessee in so surrendering the Premisespremises, including, including without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord Lessor resulting from any failure by Tenant Lessee to timely surrender possession of the Premises premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore rent therefore payable hereunder, and accurate measurement will be impossible to measure accuratelyimpossible. Tenant Lessee therefore agrees that if possession of the Premises premises is not surrendered to Landlord Lessor on or before the date that is thirty (30) days following of the Expiration Dateexpiration or sooner termination of this Lease, in addition then Lessee agrees to any other rights or remedies Landlord may have hereunder or at lawpay Lessor as liquidated damages for each month, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month pro-rated on a daily basis, during which Tenant Lessee holds over in the Premises premises after the Expiration Dateexpiration or termination of the term of this Lease, a as sum equal to one hundred twenty five two (125%2) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent average rent and other items of Rental additional rent which were was payable per month under this Lease during the last month six months of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateterm thereof.
Appears in 2 contracts
Samples: Lease Agreement (Sancilio Pharmaceuticals Company, Inc.), Lease Agreement (Sancilio Pharmaceuticals Company, Inc.)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Dateits property. Tenant agrees to it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delaydelay and including any consequential damages and/or lost opportunities. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to one hundred twenty five (125%) of the greater of (i) Applicable Percentage times the aggregate of that portion of the Base Rent, Escalation average Rent and other items of Rental Additional Rent which were was payable per month under this Lease during the last month six months of the Term thereof. For purposes hereof, “Applicable Percentage” shall mean (X) 150% for the first 60 days of such holdover and (iiY) 200% thereafter. The aforesaid obligations shall survive the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or sooner termination of the Term and (ii) of this Lease. At any time during the fair market value as reasonably determined by Term of this Lease, Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein. Nothing herein contained shall be deemed to permit Tenant to retain possession During the last year of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession Term of this Lease, Landlord may exhibit the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateprospective tenants.
Appears in 2 contracts
Samples: Lease Agreement (Yext, Inc.), Lease Agreement (Yext, Inc.)
End of Term. (a) Upon the expiration or earlier termination of this Lease in its entirety and for each Site, Tenant shall surrender each Site to Landlord in good operating condition and repair suitable for the use of the Premises for the Permitted Use, except as repaired, rebuilt or altered as required or permitted by this Lease (or, in the case of termination pursuant to paragraph 14, as condemned). Upon expiration of this Lease in its entirety and for each Site, Tenant shall remove all alterations not consented to by Landlord and all of Tenant’s Personal Property from the Premises and the Bowling Equipment, unless Landlord has previously acquired the Bowling Equipment, in which event all Bowling Equipment shall remain with the Premises, included at each Site. Tenant shall repair at its sole cost any damage caused by such removal. Any Personal Property not so removed, including Tenant’s Personal Property shall become the property of Landlord at no cost, expense or liability to either party. Twelve (12) months prior to the expiration or earlier termination of the Lease in its entirety and for each Site, Landlord and Tenant shall jointly prepare an inspection report identifying those matters requiring repair, restoration or replacement prior to surrender of the Premises. Without limitation of Landlord’s regular inspection rights under this Lease, if the Lease is not extended for any Extension Term then 24 months prior to the expiration or termination of the initial Term (and for any Reduction Site, 24 months prior to the termination of this Lease with respect to such Reduction Site) and if the Lease is extended for any Extension Term then eighteen (18) months prior to the expiration or termination of the Term (and for any Reduction Site, 18 months prior to the termination of this Lease with respect to such Reduction Site), Landlord and Tenant shall re-evaluate the condition of the Premises, including each Site, and update the inspection report. Tenant covenants not to defer any capital maintenance or replacement work during the final twenty (24) months of the Lease Term (and for any Reduction Site, prior to the termination of this Lease with respect to such Reduction Site). In the event Tenant is to make any capital expenditures during the final 24 months of the Lease Term (and for any Reduction Site, prior to the termination of this Lease with respect to such Reduction Site), Landlord shall be responsible for the costs thereof allocated on a straight line basis to that portion of the useful life of such items beyond the Lease Term (or term with respect to a Reduction Site)(such amount to be paid by Landlord is herein called “Landlord’s Allocable Amount”). Useful life shall be based upon engineering standards specified for such items or if such specifications are not available and Landlord and Tenant cannot reach an agreement on such useful life, then by arbitration as set forth on Exhibit J. Tenant shall provide Landlord with not less than fifteen (15) calendar days’ prior written notice of any anticipated capital expenditures during the final 24 months of the Term (and for any Reduction Site, 24 months prior to the termination of this Lease with respect to such Reduction Site), together with copies of all bids related thereto. Such notice to Landlord shall be a condition precedent to Landlord’s obligation to make the payment of Landlord’s Allocable Amount. Upon final completion of such capital expenditures during the final 24 months of the Lease Term (and for any Reduction Site, 24 months prior to the termination of this Lease with respect to such Reduction Site) and Tenant’s payment in full of all costs associated therewith, each as documented or otherwise evidenced to Landlord’s reasonable satisfaction, Landlord agrees to make a single payment to Tenant in the amount equal to Landlord’s Allocable Amount within 30 calendar days following Tenant’s written request therefor. Upon the expiration or earlier termination of this Lease in its entirety and for each Site, Tenant shall surrender all keys to the Premises or Site, as applicable, to Landlord at the place then fixed for notices to Landlord and shall inform Landlord of all combinations on locks, safes and vaults, if any.
(b) If the Premises are not surrendered as above set forth, Tenant shall indemnify, defend and hold Landlord harmless from and against loss or liability resulting from the delay by Tenant in so surrendering Premises, including any claim made by any succeeding occupant founded on such delay. Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of this Lease, Tenant shall quit and surrender Lease for six (6) years. In addition to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedforegoing, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided hereinAdditional Rent, Tenant shall pay in advance and on a monthly basis to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) 1/12 of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty percent (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Rent and other items of Rental which were payable under this Lease during the last preceding year during each month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained or portion thereof for which Tenant shall be deemed to permit Tenant to retain remain in possession of the Premises without written consent or any part thereof after the Expiration Date or to limit in any manner Landlord's right to regain possession termination of the Premises through summary proceedingsTerm or of Tenant’s rights of possession, whether by lapse of time or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 paragraph 22(b) shall survive not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein, at law or at equity.
(c) All property of Tenant not removed on or before the Expiration Datelast day of the Term of this Lease shall be deemed abandoned. Tenant hereby agrees that Landlord may remove all property of Tenant, including Tenant’s Personal Property, from the Premises upon termination of this Lease and to cause its transportation and storage, all at the sole cost and risk of Tenant and Landlord shall not be liable for damage, theft, misappropriation or loss thereof and Landlord shall not be liable in any manner in respect thereto and Landlord shall be entitled to dispose of such property, as Landlord deems fit, without the requirement of an accounting. Tenant shall pay all costs and expenses of such removal, transportation and storage. Tenant shall reimburse Landlord upon demand for any expenses reasonably and actually incurred by Landlord with respect to removal or storage of abandoned property and with respect to restoring said Premises in accordance with the terms and conditions of this Lease.
(d) Except for surrender upon the expiration or earlier termination of the Term hereof as expressly provided herein, no surrender to Landlord of this Lease or of the Premises shall be valid or effective unless agreed to and accepted in writing by Landlord.
(e) Upon Tenant’s turnover of the Premises, or any Site, to Landlord, Tenant and its affiliates shall cooperate and assist (and not hinder or restrict) Landlord’s ability to obtain liquor licenses at each such Site.
Appears in 2 contracts
Samples: Lease Agreement (Amf Bowling Worldwide Inc), Lease Agreement (Amf Bowling Worldwide Inc)
End of Term. ABANDONED PROPERTY Upon the expiration or other termination of the Term of this Lease, Tenant shall peaceably quit and surrender to Landlord the Premises, vacant, broom clean, in good order Demised Premises and condition, ordinary wear all alterations and tear and damage for additions thereto which Tenant is not responsible entitled or required to remove under the terms provisions of this Lease, broom clean in good order, repair and condition excepting only reasonable use and wear and damage by fire or other casualty for which, under other provisions of this Lease, Tenant has no responsibility of repair or restoration. Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of the Term of this Lease. If the last day of the Term of this Lease exceptedor any renewal thereof falls on a day other than a Business Day, this Lease shall expire on the Business Day immediately preceding. Any personal property in which Tenant has an interest which shall remain in the Building or on the Demised Premises after the expiration or termination of the Term of this Lease shall be conclusively deemed to have been abandoned, and otherwise may be disposed of in compliance with such manner as Landlord may see fit; provided, however, notwithstanding the provisions foregoing, that Tenant will, upon request of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is later than thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or termination of the Term hereof, promptly remove from the Building any such personal property or, if any part thereof shall be sold, that Landlord may receive and (ii) retain the fair market value as reasonably determined 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 payable hereunder by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of any damages to which Landlord may be entitled under Article 19 hereof or pursuant to law, with the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Datebalance if any, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateto Tenant.
Appears in 2 contracts
Samples: Lease Agreement (Investment Technology Group Inc), Lease Agreement (Investment Technology Group Inc)
End of Term. Upon the expiration or other termination of the Term, Tenant shall quit and surrender to Landlord Demised Premises, broom clean, in as good order, condition and repair as it now is or may hereafter be placed, ordinary wear excepted. Tenant shall remove all property of Tenant, as directed by Landlord. Any property left on Demised Premises at the expiration or other termination of this Lease, or after the happenings of any of the events of default set forth in Article 18, may, at the option of Landlord, either be deemed abandoned or be placed in storage at a public warehouse in the name of and for the account of and at the expense and risk of Tenant shall quit or otherwise disposed of by Landlord in the manner provided by Law. Tenant expressly releases Landlord of and surrender from any and all claims and Liability for damage to Landlord or destruction or Loss of property left by Tenant upon Demised Premises at the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms expiration of other termination of this Lease exceptedand Tenant hereby indemnifies Landlord against any and all claims and Liability with respect thereto. If Tenant holds over after the Term with the consent of Landlord, express or implied, such tenancy shall be from month to month only and shall not be a renewal hereof, and otherwise in compliance Tenant shall pay the rent and all the other charges at the same rate as herein provided and also comply with the provisions of Article 7 hereof Tenant acknowledges that possession all of the terms, covenants, conditions, provisions and agreements of this Lease for the time during which Tenant holds over. If Tenant holds over after the Term without the consent of Landlord and shall fail to vacate Demised Premises must after the expiration or sooner termination of this Lease for any cause or after Tenant's right to occupy same ceases, thereafter, and notwithstanding anything to the contrary contained elsewhere in this Lease, Tenant shall be surrendered liable to Landlord on for the Expiration Dateuse and occupancy of Demised Premises in an amount agreed to be one hundred twenty-five percent (125%) of the monthly installments of Base Annual Rent, and all the other changes as provided in this Lease for the last month of the Term. If Demised Premises are not surrendered at the end of the Term, Tenant agrees shall be additionally responsible to indemnify Landlord for all damage (including but not limited to the loss of rent) which Landlord shall suffer by reason thereof, and save Tenant hereby indemnifies Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord against Landlord, resulting from any failure delay by Tenant to timely surrender Landlord in delivering possession of the Demised Premises as aforesaid will be extremely substantial, will exceed the amount to such succeeding tenant. Tenant's obligation to observe or perform all of the monthly installments of the Base Rent terms, covenants, conditions, provisions and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions agreements of this Section 24.21. The provisions of this Section 24.21 Article shall survive the Expiration Dateexpiration or other termination of this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Homelife Inc), Lease Agreement (Homelife Inc)
End of Term. SECTION 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom broom-clean, in good order and condition, ordinary wear and tear and damage damages for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant's Property and any Tenant Alterations and Data Center Configuration Work from the Premises and the Property to the extent required under Section 3.3, and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal or extension thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of any applicable Legal Requirement then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
SECTION 20.2 Tenant acknowledges that Tenant or any subtenant of Tenant remaining in possession of the Premises must be surrendered after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant, therefore, covenants that if for any reason Tenant or any assignee or subtenant of Tenant shall fail to Landlord on the Expiration Date. Tenant agrees to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Txxxxx's continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a month-to-month tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over over, an amount equal to: (a) for the first thirty (30) days during which Tenant holds over, the total monthly amount of Fixed Rent and Additional Rent payable hereunder immediately prior to such termination (the "Existing Rent") multiplied by one hundred fifty percent (150%), and (b) two hundred percent (200%) of the Existing Rent thereafter. The provisions of this Section 20.2 shall not in any way be deemed to (i) permit Tenant to remain in possession of the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and or (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter imply any right of Tenant shall pay to Landlord on account of use and occupancy of or occupy the Premises for each month and prorated for each portion upon expiration or termination of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant Txxxxx in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant's obligations under this Section 24.21 Article shall survive the Expiration Dateexpiration or earlier termination of this Lease.
SECTION 20.3 In addition to making all required payments of Fixed Rent and Additional Rent, Tenant shall, in the event of Tenant's failure to surrender the Premises upon the expiration or other termination of this Lease, as and in the manner aforesaid, also indemnify and hold Landlord harmless from and against any and all cost, expense, damage, claim, loss or liability resulting from any delay or failure by Tenant in so surrendering the Premises, including any consequential damages suffered by Landlord and any claims made by any succeeding occupant founded on such delay or failure, and any and all reasonable attorneys' fees, disbursements and court costs incurred by Landlord in connection with any of the foregoing.
SECTION 20.4 Tenant's obligations under this Article 20 (including the indemnity) shall survive the expiration or earlier termination of this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Athenahealth Inc), Lease Agreement (Athenahealth Inc)
End of Term. Upon the expiration or other termination of this Leasethe Term, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible for under the terms of this Lease excepted, and otherwise Tenant may remove all of its property pursuant to Article 3 hereof. Tenant shall not be required to restore the Premises except with respect to any Alterations that Landlord has designated as “Specialty Alterations” in compliance accordance with Article 3. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday this Lease shall expire on the business day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force and effect in connection with any holdover summary proceedings which Landlord may institute to Landlord on enforce the Expiration Dateforegoing provisions of this Article 21. Tenant agrees to indemnify and save Landlord harmless from and against all claimsIn addition, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on by Tenant or before the date that is thirty any subtenant or other occupant within twenty-four (3024) days following hours after the Expiration DateDate or sooner termination of the Term, in addition to any other rights or remedies remedy Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal to one hundred twenty five (125%) of the greater of (i) two (2) times the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental all additional rent which were was payable under this Lease during the last month of the Term and Term, or (ii) the fair market value then Fair Market Value of the Premises, as reasonably determined by Landlord. Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account may consider items of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over Tenant’s Property that remain in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) expiration or earlier termination of the greater Term to have been abandoned. In that event, Landlord may, at its option either (x) retain such items as its property or dispose of them without accountability or liability, and in any such manner as Landlord shall determine, all at Tenant’s expense, or (iy) remove and store such items for Tenant. Tenant shall reimburse Landlord for the aggregate reasonable expenses incurred in connection with such disposal or removal and storage within 20 days after receipt for an invoice therefor. The provisions of that this Article 21 shall survive the expiration of the Term. If the Premises are not surrendered upon the expiration or earlier termination of this Lease with respect to all or any portion of the Base RentPremises, Escalation Rent Tenant hereby indemnifies Landlord against loss, cost, injury, damage, claim, expense, or liability (including attorneys’ fees and other items of Rental which were payable under this Lease during disbursements) resulting from delay by Tenant in so surrendering the last month of the Term and (ii) the fair market value as reasonably determined same, including any claims made by Landlordany succeeding tenant or prospective tenant founded upon such delay. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwise, this Lease and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The Article 21, which provisions of this Section 24.21 shall survive the Expiration DateDate or sooner termination of this Lease.
Appears in 2 contracts
Samples: Lease Agreement (Panacea Acquisition Corp), Lease Agreement (Panacea Acquisition Corp)
End of Term. ABANDONED PROPERTY; HOLDOVER Upon the expiration or other termination of the Term of this Lease, Tenant Sublease. Sublessee shall peaceably quit and surrender to Landlord Sublessor the PremisesSublease Premises (and all alterations and additions thereto which Sublessee in not entitled or required to remove under the provisions of this Sublease), vacant, broom broom-clean, in good order order, repair and condition, ordinary condition excepting only reasonable wear and tear and damage by fire or other casualty for which Tenant is not responsible which, under the terms other provisions of this Lease exceptedSublease, Sublessee has no responsibility of repair or restoration. Sublessee's obligation to observe or perform this covenant shall survive the expiration or other termination of the Term of this Sublease. If the last day of the Term of this Sublease or any renewal thereof falls on a day other than a Business Day, this Sublease shall expire on the Business Day immediately preceding. Any personal property in which Sublessee has an interest which shall remain in the Building or on the Sublease Premises after the expiration or termination of the Term of this Sublease shall be conclusively deemed to have been abandoned, and otherwise may be disposed of in compliance with such manner as Sublessor may see fit. Notwithstanding the provisions foregoing, Sublessee will, upon request of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims Sublessor made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is later than thirty (30) days following after the Expiration Dateexpiration or termination of the Term hereof, in addition promptly remove from the Building any personal property or, if any part thereof shall be sold, then Sublessor may receive and retain 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 payable hereunder by Sublessee to Sublessor and any other rights damages to which Sublessor may be entitled under Article 15 hereof or remedies Landlord may have hereunder or at pursuant to law, with the balance if any, to be paid to Sublessee. In the event of holding over by Sublessee after expiration or other termination of this Sublease, occupancy of the Sublease Premises subsequent to such termination or expiration shall be that of a tenancy at sufferance and without in any manner limiting Landlord's right no event for month-to-month or year-to-year, but Sublessee shall, throughout the entire holdover period, be subject to demonstrate all the terms and collect any damages suffered by Landlord provisions of this Sublease and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of for its use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, an amount (on a sum per diem basis) equal to one two hundred twenty five percent (125200%) of the greater of (i) the aggregate of that portion sum of the Base Rent, Escalation Yearly Fixed Rent and other items of Rental which were payable under this Lease during Additional Rent (at the last month of rental rate for the Term period immediately preceding such holdover), and (ii) in no event shall such holdover rental be less than the fair market value as reasonably determined by Landlord rental for the next ninety (90) days, and thereafter Tenant shall pay Sublease Premises. No holding over by Sublessee or payments of money by Sublessee to Landlord on account of use and occupancy Sublessor after the expiration of the Premises for each month and prorated for each portion term of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal this Sublease shall be construed to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of extend the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain or prevent Sublessor for recovery of immediate possession of the Sublease Premises without written consent after by summary proceedings or otherwise. In addition to the Expiration Date obligation to pay the amounts set forth above during any such holdover period, Sublessee also shall be liable so Sublessor for all damage, including any consequential damage, which Sublessor may suffer by reason of any holding over by Sublessee, and Sublessee shall indemnify Sublessor against any and all claims made by any other tenant or to limit prospective tenant against Sublessor for delay by Sublessor in any manner Landlord's right to regain delivering possession of the Sublease Premises through summary proceedings, to such other tenant or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateprospective tenant.
Appears in 1 contract
End of Term. 10.1 If (a) upon expiry of the Hire Period the Lessee elects not to exercise any option to renew its rental of the Products contained in the relevant Schedule and (b) if the Lessor elects not to appoint the Lessee its agent for the sale of the Products in accordance with any terms to that effect in the relevant Schedule and (c) in any event upon earlier termination under clause 11 then the Lessee shall promptly at its own expense return the Products to such location within the United Kingdom as the Lessor shall direct. If the Lessee fails to return the Products in accordance with this requirement the Lessee shall continue to pay Rental Payments on a pro rata basis until the Products are received and accepted by the Lessor. In addition:
10.1.1 The Products shall be properly packed for shipment in accordance with the manufacturer’s recommendations and specifications, freight pre-paid and insured.
10.1.2 Upon the expiration or other termination of this Lease, Tenant the leasing of the Products the Lessee shall quit and surrender to Landlord the Premises, vacant, broom clean, no longer be in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on Products with the Expiration Date. Tenant agrees to indemnify consent of the Lessor and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender Lessor may retake possession of the Premises as aforesaid will Products for which purpose the Lessor or its agents may enter any premises where the Products are believed to be extremely substantiallocated.
10.2 On return the Products shall comply with all return conditions specified in the schedule hereto (the “Return Conditions”) or, will exceed the amount if no Return Conditions have been specified, shall comply with clause 10.1 above and be in Average Saleable Condition. “Average Saleable Condition” means that all of the monthly installments Products are free of markings and immediately available for use by a third party user or lessee, other than the Lessee, without the need for repair or refurbishment. Upon return of the Base Rent and Escalation Rent theretofore payable hereunder, and will Products they may be impossible to measure accurately. Tenant therefore agrees that if possession inspected by or on behalf of the Premises is not surrendered Lessor and any and all discrepancies from the Return Conditions or (if there are no Return Conditions) any failure to Landlord meet Average Saleable Condition may be corrected by the Lessor at the Lessee’s expense. In remedying the condition of the Products the Lessor may carry out such work as it reasonably considers necessary and the Lessee will in any event on or before the date that is thirty (30) days following the Expiration Datedemand pay for any and all costs, charges and fees which may be incurred, in addition to connection with any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy restoration of the Premises for each month and prorated for each portion of any month during Products to the required condition or which Tenant holds over in would be incurred if the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordLessor carried out such restoration. Nothing herein contained Such costs shall be deemed to permit Tenant to retain possession of calculated on the Premises without written consent after assumption that the Expiration Date or to limit in any manner Landlord's right to regain possession of restoration shall use only spare parts and services recommended by the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datemanufacturer.
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End of Term. 23.1. Upon the expiration or other termination of the term of this Lease, or upon any re-entry by Landlord upon the demised premises, Tenant shall quit and surrender to Landlord the Premises, vacantdemised premises, broom clean, in good order and conditioncondition and repair, ordinary wear and tear and damage for which by fire, the elements or other casualty excepted, and Tenant shall remove all of its property as herein provided. Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of the term of this Lease.
23.2. No act or thing done by Landlord or its agents shall be deemed an acceptance of a surrender of the demised premises, and no agreement to accept such surrender shall be valid unless in writing and signed by Landlord and each Superior Lessor and Superior Mortgagee whose lease or mortgage, as the case may be, provides that no such surrender may be accepted without its consent.
(a) In the event this Lease is not responsible renewed or extended or a new lease is not entered into between the parties, and if Tenant shall then hold over after the expiration or early termination of the term of this Lease, and if Landlord shall then not proceed to remove Tenant from the demised premises in the manner permitted by law (or shall not have given written notice to Tenant that Tenant must vacate the demised premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the demised premises after the expiration of the term shall be under a month-to-month tenancy commencing on the first day after the expiration or early termination of the term, which tenancy shall be upon all of the terms set forth in this Lease except Tenant shall pay on the first day of each month of the holdover period as fixed annual rent, an amount equal to one and one-half (1 ½) times one-twelfth of the higher of (i) the fixed annual rent and additional rent payable by Tenant during the twelve (12) months preceding the expiration of the term of this Lease excepted(annualized in the case of an early termination occurring less than 12 months after the Commencement Date and, in any event, without giving effect to any abatement or offset against such rents) or (ii) an amount equal to the then market rental value for the demised premises as shall be established by Landlord giving notice to Tenant of Landlord’s good faith estimate of such market rental value. Tenant may dispute such market rental value for the demised premises as estimated by Landlord by giving notice to Landlord within but in no event after twenty (20) days after the giving of Landlord’s notice to Tenant (as to the giving of which notice to Landlord, time shall be deemed of the essence). Enclosed with such notice, Tenant shall be required to furnish to Landlord the written opinion of a reputable New York licensed real estate broker having leasing experience in the Borough of Manhattan for a period of not less than ten (10) years, setting forth said broker’s good faith opinion of the market rental value of the demised premises. If Tenant and Landlord are unable to resolve any such dispute as to the market rental value for the demised premises then an independent arbitrator who shall be a real estate broker of similar qualifications and shall be selected from a listing of not less than three (3) brokers furnished by the AAA (or any successor thereto) to Tenant and Landlord (at the request of either Landlord or Tenant). If Landlord and Tenant are unable to agree upon the selection of the individual arbitrator from such listing, then the first arbitrator so listed by the AAA (or any successor thereto) shall be conclusively presumed to have been selected by both Landlord and Tenant and the decision of such arbitrator shall be conclusive and binding upon the parties as to the market rental value for the demised premises. Pending the determination of the market rental value of the demised premises upon the expiration of the term of this Lease, Tenant shall pay to Landlord as fixed annual rent an amount computed in accordance with clauses (i) or (ii) of this Section 23.3(a) (as Landlord shall then elect), and otherwise upon determination of the market rental value of the demised premises in compliance accordance with the preceding provisions hereof appropriate adjustments and payments shall be effected. Further, Landlord shall not be required to perform any work, furnish any materials or make any repairs within the demised premises during the holdover period. It is further stipulated and agreed that if Landlord shall, at any time after the expiration of Article 7 the original term or after the expiration of any term created thereafter, proceed to remove Tenant from the demised premises as a holdover, the fixed annual rent for the use and occupancy of the demised premises during any holdover period shall be calculated in the same manner as set forth above. In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages arising from such holdover as provided in Section 23.3(c) hereof.
(b) Notwithstanding anything to the contrary contained in this Lease, the acceptance of any rent paid by Tenant pursuant to Section 23.3(a) hereof shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 223-c of the Real Property Law of the State of New York.
(c) If Tenant acknowledges that shall hold-over or remain in possession of any portion of the Premises must be surrendered to Landlord on demised premises beyond the Expiration Date, Tenant shall be subject not only to summary proceeding and all damages related thereto, but also to any damages arising out of any new leases or lost opportunities by Landlord to re-let the demised premises (or any part thereof) in accordance with and subject to the following provisions of this Section 23.3(c). In the event that:
(i) Landlord shall enter into one or more leases for all or any portion of the demised premises which either (A) is for a term that is scheduled to commence within six (6) months after the Expiration Date of this Lease or (B) is for a term that is scheduled to commence within twelve (12) months after the Expiration Date of this Lease and which requires Landlord to perform any demolition, tenant improvement work or any other work as a precondition to the commencement of such term (any such lease is herein called a “Qualifying Lease”), and
(ii) Landlord shall give Tenant agrees written notice thereof (herein called a “Qualifying Lease Notice”), which Qualifying Lease Notice may be given at any time prior to indemnify or following the Expiration Date and save Landlord harmless from and against all claimsshall describe the premises leased pursuant to such Qualifying Lease, losses, damages, liabilities, costs and expenses and
(including, without limitation, attorneys' fees and disbursementsiii) resulting from delay by Tenant shall hold-over or remain in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount any portion of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before demised premises beyond the date that which is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater later of (iA) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or (B) the date on which Landlord shall have given such Qualifying Lease Notice to limit Tenant, then, in such event, Tenant shall be subject to all damages arising out of any new leases or lost opportunities by Landlord to re-let all or any part of the demised premises covered by a Qualifying Lease Notice given at least thirty (30) days prior to the date on which Landlord incurs such damages, including without limitation any such damages in connection with Landlord’s inability to deliver the premises leased pursuant to such Qualifying Lease to the tenant under such Qualifying Lease. All damages to Landlord by reason of such holding over by Tenant may be the subject of a separate action and need not be asserted by Landlord in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateproceedings against Tenant.
Appears in 1 contract
Samples: Lease Agreement (Blackrock Inc /Ny)
End of Term. A. Upon the expiration or other termination of this Leasethe Term, Tenant shall quit and surrender to Landlord the Premises, vacant, broom Demised Premises “broom-clean, ” and in good order and condition, ordinary wear and tear and damage for damages which Tenant is not responsible under the terms of required to repair as provided elsewhere in this Lease excepted, and otherwise Tenant shall remove all of Tenant’s Property (except such items thereof as Tenant and Landlord shall have expressly agreed in compliance writing are to remain and to become the property of Landlord), together with all Specialty Alterations other than those Landlord elects by notice to have Tenant surrender with the provisions Demised Premises, from the Demised Premises and restore any damage caused thereby in accordance with the terms of Article 7 hereof Tenant acknowledges that possession 5 hereof. Tenant’s obligation to observe or perform this covenant shall survive the expiration or sooner termination of this Lease. If the last day of the Premises must be surrendered to Landlord Term, or any renewal thereof, falls on Sunday, this Lease shall expire at noon on the Expiration Date. preceding Saturday, unless it be a legal holiday, in which case it shall expire at noon on the preceding business day.
B. Landlord and Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Demised Premises as aforesaid will shall be extremely substantial, will shall exceed the amount of the monthly installments of the Base Fixed Annual Rent and Escalation Additional Rent theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Demised Premises is not surrendered to Landlord on or before the date that is thirty (30) days following Expiration Date or the Expiration Datesooner termination of the Term, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall shall:
(i) pay to Landlord Landlord, on account of use and occupancy of the Premises occupancy, for each month and prorated for each (or any portion of any month thereof) during which Tenant holds over in the Demised Premises after the Expiration DateDate or sooner termination of the Term, a sum equal to one hundred twenty five (a) for the first thirty (30) days of holdover, 125%) % of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Annual Rent and other items of Rental which were Additional Rent payable under this Lease during for the last full calendar month of the Term (or which would have been payable for such period has this Lease not been sooner terminated), (b) for the next sixty (60) days of holdover, 150% of the Fixed Annual Rent and Additional Rent payable under this Lease for the last full calendar month of the Term (or which would have been payable for such period has this Lease not been sooner terminated) and (c) for any holdover thereafter, 200% of the Fixed Annual Rent and Additional Rent payable under this Lease for the last full calendar month of the Term (or which would have been payable for such period had this Lease not been sooner terminated); and
(ii) be liable to Landlord for (i) any payment or then market rent concession which Landlord actually makes to any prospective tenant obtained by Landlord for all or any part of the Demised Premises (a “New Tenant”) in order to induce such New Tenant not to terminate its lease by reason of the holding-over by Tenant in excess of one hundred fifty (150) days, and (ii) the fair market value as reasonably determined by Landlord for loss of the next ninety (90) days, and thereafter benefit of the bargain if any New Tenant shall pay to Landlord on account of use and occupancy terminate its lease by reason of the Premises holding-over by Tenant for each month and prorated for each portion a period in excess of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) days.
C. No holding-over by Tenant, nor the payment to Landlord of the greater of (i) amounts specified above, shall operate to extend the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordTerm. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Demised Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwisethis Lease, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 25. Tenant expressly waives, for itself and any individual or entity claiming through or under Tenant, any rights which Tenant or such individual or entity may otherwise have under the provisions of Section 24.21. The 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force, in connection with any holdover summary proceedings which Landlord may institute to enforce the provisions of this Section 24.21 shall survive the Expiration DateArticle 25.
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End of Term. Upon A. Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease in good order and condition, broom clean, except for reasonable wear and tear and damage by fire or other casualty (but recognizing Tenant’s obligations to maintain the Premises as provided in this Lease) and Tenant shall surrender all keys for the Premises to Landlord. In addition, Tenant shall remove all computer, telephone and data cabling servicing its premises. If Tenant shall hold over after the Expiration Date or other termination of this Lease, Tenant such holding over shall quit and surrender not be deemed to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms be a renewal of this Lease excepted, but shall be deemed to create a month to month tenancy only and otherwise in compliance with the provisions of Article 7 hereof by such holding over Tenant acknowledges that possession shall continue to be bound by all of the Premises must be surrendered terms and conditions of this Lease, except that during such month to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, month tenancy Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%A) of the greater of (i) two (2) times the aggregate of that portion of monthly Base Rent Landlord is then charging new tenants for space in the Building, or (ii) two (2) times the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease hereunder during the last month of the Term Term, and (iiB) the fair market value as reasonably determined by Landlord for the next ninety (90) days, any and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent all Operating Expenses and other items forms of Rental which were Additional Rent payable under this Lease during Lease. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last day of any calendar month by delivery to the other of notice of such termination prior to the Term first day of such calendar month. Tenant shall indemnify, defend and hold Landlord harmless from and against any claim, damage, loss, liability, judgment, suit, disbursement or expense (iiincluding consequential damages and reasonable attorneys’ fees and disbursements) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed (collectively, “Claims”) resulting from failure to permit Tenant to retain surrender possession of the Premises without written consent after upon the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedingsTerm, or otherwiseincluding any Claims made by any succeeding tenant, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 such obligations shall survive the Expiration Dateexpiration or sooner termination of this Lease.
Appears in 1 contract
Samples: Service Center Building Lease (Digital Lightwave Inc)
End of Term. Upon the expiration or other termination of this Leasethe term, Tenant shall quit and surrender to Landlord the Premises, vacantdemised premises, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant's obligation to observe or perform this covenant shall survive the provisions of Article 7 hereof Tenant acknowledges that possession expiration or sooner termination of the Premises must be surrendered to Landlord on the Expiration Dateterm of this Lease. Tenant agrees to indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premisesdemised premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The If the last day of the Term or any renewal thereof falls on Saturday or Sunday this Lease shall expire on the business day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this paragraph 35. In addition, the parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises demised premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent fixed annual rent theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Premises demised premises is not surrendered to Landlord on within twenty-four (24) hours after the expiration date or before a sooner termination of the date that is thirty (30) days following the Expiration DateTerm, in addition to any other rights or remedies remedy Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, law Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises demised premises after the Expiration DateDate or sooner termination of this Lease, a sum equal to one hundred twenty five three (125%3) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent fixed rent and other all items of Rental additional rent which were was payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordTerm. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent demised premises after the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwise, this Lease and no acceptance by Landlord of payments from Tenant after the Expiration Date expiration or sooner termination of the Lease shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The Article 18, which provisions of this Section 24.21 shall survive the Expiration Dateexpiration or sooner termination of this Lease.
Appears in 1 contract
End of Term. Upon If the date of the expiration of the term of this Lease or other any sooner termination of this Lease shall fall on a day which is not a business day, then Tenant's obligations herein shall be performed on or prior to the immediately preceding business day. In connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Lease, Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of like import then in effect. If the demised premises are not surrendered upon the termination of this Lease, Tenant shall quit and surrender to hereby indemnifies Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) liability resulting from delay by Tenant in so surrendering the Premisesdemised premises, including, without limitation, including any claims made by any succeeding tenant or prospective tenant founded on upon such delay. The parties recognize and agree that In the damage to Landlord resulting from any failure by event Tenant to timely surrender remains in -- possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises demised premises after the Expiration Date, a sum equal to one hundred twenty five (125%) termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during without the last execution of a new Lease, Tenant, at the option of Landlord, shall be deemed to be occupying the demised premises as a tenant from month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) daysto month, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, at a sum monthly rental equal to one hundred fifty (150%) percent of the greater annual rental rate and additional rent (which additional rent, under the terms of (i) this Lease, shall be deemed to be all sums of money, other than the aggregate of that portion of the Base Rentannual rental rate, Escalation Rent which become due and other items of Rental which were payable under this Lease from Tenant to Landlord hereunder), payable during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed term, subject to permit Tenant to retain possession all of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions terms of this Section 24.21Lease insofar as the same are applicable to month-to-month tenancy. The provisions of Tenant's obligations under this Section 24.21 Article shall survive the Expiration Datetermination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Credit Suisse First Boston Usa Inc)
End of Term. A. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove such of its property as may be required pursuant to Article 3 hereof; this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the business day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20.
B. If an Event of Default has occurred and Landlord on the Expiration Date. has given Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by a notice demanding that Tenant in so surrendering vacate the Premises, includingand Tenant fails to vacate the Premises within the time period set forth in said notice, without limitationthen the undersigned individuals, any claims made by any succeeding tenant founded on such delay. The parties recognize Harrx Xxxxxxx xxx Stanxxx Xxxxxxx, xxall be jointly and agree that the damage severally personally liable to Landlord resulting from any failure by Tenant to timely surrender possession of for the Premises as aforesaid will be extremely substantialFixed Rent, will exceed the amount of the monthly installments of the Base Percentage Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and all other items of Rental which were payable due under the terms of this Lease during with respect to the last month portion of the Term (and (iiany holdover period) from and after the fair market value as reasonably determined by Landlord date set forth in the notice for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of vacate the Premises for each month and prorated for each portion of until the date that Tenant vacates the Premises; provided, however, that Landlord shall apply any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.security
Appears in 1 contract
End of Term. Upon Section 24.1 On the expiration or Expiration Date (a) Tenant (and all other termination of this Lease, Tenant occupants) shall quit vacate and surrender to Landlord the Premises, vacant, broom clean, clean and in good order and condition, except for ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedlease, and otherwise in compliance with as may be required by this lease, and (b) Tenant shall remove all of Tenant’s Property and any Tenant’s Work required to be removed pursuant to this lease. If the provisions of Article 7 hereof Tenant acknowledges that possession last day of the Term is not a Business Day, this lease shall expire on the immediately preceding Business Day. Tenant waives, for itself and for any person claiming under Tenant, any right which Tenant or any such person may have under Section 2201 of the New York Civil Practice Law and Rules or under any similar Law.
Section 24.2 If the Premises must are not vacated and surrendered in accordance with this lease, on the date required by this lease, Tenant shall be surrendered liable to Landlord on the Expiration Date. for (a) all losses, costs, liabilities and damages which Landlord incurs by reason thereof, including reasonable attorneys’ fees, and Tenant agrees to indemnify shall indemnify, defend and save hold harmless Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to tenants against Landlord or otherwise resulting from any the failure by of Tenant (and all other occupants) timely to timely vacate and surrender possession the Premises in accordance with this lease, and (b) per diem use and occupancy in respect of the Premises as aforesaid will be extremely substantial, will exceed equal to twice the amount Rent payable under this lease for the last year of the monthly installments of Term (which Landlord and Tenant presently agree is the Base Rent to which Xxxxxxxx would be entitled, is presently contemplated by them as being fair and Escalation Rent theretofore payable hereunderreasonable under such circumstances and is not a penalty). In no event, however, shall this Section be construed as permitting Tenant (and will be impossible all other occupants) to measure accurately. Tenant therefore agrees that if remain in possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease .
Section 24.3 If during the last month 90 days of the Term and (ii) Term, Tenant removes substantially all of Tenant’s Property from the fair market value as reasonably determined Premises, Landlord or any person designated by Landlord for may immediately enter and change the next ninety Premises, without (90a) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy abatement of the Premises Rent, (b) releasing Tenant from any obligation or liability under this lease, (c) incurring any liability or obligation to Tenant or (d) causing any actual or constructive eviction.
Section 24.4 Any obligation of Landlord or Tenant under this lease which by its nature or under the circumstances can only be, or by the terms of this lease may be, performed after the Expiration Date and any liability for each month and prorated for each portion of a payment with respect to any month during which Tenant holds over in the Premises after period ending on or before the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rentunless otherwise set forth in this lease, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.
Appears in 1 contract
Samples: Office Lease
End of Term. Upon Section 24.1 On the expiration or Expiration Date (a) Tenant (and all other termination of this Lease, Tenant shall quit occupants) will vacate and surrender to Landlord the Premises, vacant, broom clean, clean and in good order and condition, except for ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedlease, and otherwise in compliance with as may be required by this lease, and (b) Tenant will remove all of Tenant’s Property and any Tenant’s Work required to be removed pursuant to this lease. If the provisions of Article 7 hereof Tenant acknowledges that possession last day of the Term is not a Business Day, this lease will expire on the immediately preceding Business Day. Tenant waives, for itself and for any person claiming under Tenant, any right which Tenant or any such person may have under Section 2201 of the New York Civil Practice Law and Rules or under any similar Law.
Section 24.2 If the Premises must are not vacated and surrendered in accordance with this lease, on the date required by this lease, Tenant will be surrendered liable to Landlord on the Expiration Date. for (a) all losses, costs, liabilities and damages which Landlord incurs by reason thereof, including reasonable attorneys’ fees, and Tenant agrees to indemnify will indemnify, defend and save hold harmless Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to tenants against Landlord or otherwise resulting from any the failure by of Tenant (and all other occupants) timely to timely vacate and surrender possession the Premises in accordance with this lease, and (b) per diem use and occupancy in respect of the Premises equal to twice the Rent payable under this lease for the last year of the Term (which Landlord and Tenant presently agree is the Rent to which Landlord would be entitled, is presently contemplated by them as aforesaid will be extremely substantialbeing fair and reasonable under such circumstances and is not a penalty). In no event, however, will exceed the amount of the monthly installments of the Base Rent this Section be construed as permitting Tenant (and Escalation Rent theretofore payable hereunder, and will be impossible all other occupants) to measure accurately. Tenant therefore agrees that if remain in possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease .
Section 24.3 If during the last month 90 days of the Term and (ii) Term, Tenant removes substantially all of Tenant’s Property from the fair market value as reasonably determined Premises, Landlord or any person designated by Landlord for may immediately enter and change the next ninety Premises, without (90a) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy abatement of the Premises Rent, (b) releasing Tenant from any obligation or liability under this lease, (c) incurring any liability or obligation to Tenant or (d) causing any actual or constructive eviction.
Section 24.4 Any obligation of Landlord or Tenant under this lease which by its nature or under the circumstances can only be, or by the terms of this lease may be, performed after the Expiration Date and any liability for each month and prorated for each portion of a payment with respect to any month during which Tenant holds over in the Premises after period ending on or before the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rentunless otherwise set forth in this lease, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall will survive the Expiration Date.
Appears in 1 contract
Samples: Office Lease (Siga Technologies Inc)
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, Premises Equipment, and Tenant’s Alterations (as identified by Landlord pursuant to Section 4.3), vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise Tenant shall remove all of Tenant’s Property from the Premises and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on a day that is not a Business Day, this Lease shall expire on the Business Day immediately following. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under any Law in compliance connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord on the Expiration Dateand for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder under this Lease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided hereinapplicable Laws, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over, an amount equal to the greater of (a) two (2) times the Fixed Rent and Additional Rent payable under this Lease for the last full calendar month of the Term, or (b) two (2) times the fair market rental value of the Premises for such month (as determined by Landlord based upon the then most recent leases of space in the Building). In addition, Tenant shall be liable to Landlord for (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”) in order to induce such New Tenant not to terminate its lease by reason of the holding-over by Tenant, and (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. The provisions of this Section 20.2 shall not in any way be deemed to (A) permit Tenant to remain in possession of the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal or (B) imply any right of Tenant to one hundred twenty five (125%) use or occupy the Premises upon expiration or termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant’s obligations under this Section 24.21 Article 20 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Rackspace Inc)
End of Term. Section 22.1. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with pursuant to the provisions of Article 7 hereof 13 excepted, and Tenant acknowledges shall remove all of Tenant's Alterations as may be required pursuant to Article 6. Tenant shall also remove all of Tenant's Property and all other personal property and personal effects of all persons claiming through or under Tenant, and shall pay the cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant's Property or other personal property that possession remains in the Premises after the termination of this Lease shall be deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of in such manner as Landlord may see fit. If such Tenant's Property or other personal property or any part thereof is sold, Landlord may receive and retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in removing or disposing of such Tenant's Property or other personal property or Alterations required to be removed as provided in Article 6, as well as the cost of repairing all damage to the Building or the Premises caused by such removal, shall be reimbursed to Landlord by Tenant, as Additional Rent, on demand.
Section 22.2. If the Expiration Date falls on a day which is not a Business Day, then Tenant's obligations under Section 22.1 shall be performed on or prior to the immediately preceding Business Day.
Section 22.3. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights that Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of like import then in force in connection with any holdover proceedings that Landlord may institute to enforce the provisions of this Article.
Section 22.4. If the Premises must be are not surrendered to upon the expiration or other termination of this Lease, Tenant hereby indemnifies Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, including any claims made by any succeeding tenant or prospective tenant founded on upon such delay. The parties recognize delay and agree that the damage agrees to be liable to Landlord resulting from for (i) any failure payment or rent concession which Landlord may be required to make to any tenant obtained by Tenant to timely surrender possession Landlord for all or any part of the Premises as aforesaid will be extremely substantial, will exceed the amount in order to induce such tenant not to terminate its lease by reason of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. holding-over by Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy loss of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) benefit of the greater of (i) the aggregate of that portion bargain if any such tenant shall terminate its lease by reason of the Base Rent, Escalation Rent and other items of Rental which were payable holding-over by Tenant.
Section 22.5. Tenant's obligation under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 Article shall survive the Expiration Dateexpiration or termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Ampex Corp /De/)
End of Term. 23.1. Upon the expiration or other termination of the term of this Lease, or upon any re-entry by Landlord upon the demised premises, Tenant shall quit and surrender to Landlord the Premises, vacantdemised premises, broom clean, in good order and conditioncondition and repair, ordinary wear and tear and damage for which Tenant is not responsible under by fire, the terms of this Lease elements or other casualty excepted, and otherwise in compliance with Tenant shall remove all of its property as herein provided. Tenant’s obligation to observe or perform this covenant shall survive the provisions of Article 7 hereof Tenant acknowledges that possession expiration or other termination of the Premises must term of this Lease.
23.2. No act or thing done by Landlord or its agents shall be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely deemed an acceptance of a surrender possession of the Premises demised premises, and no agreement to accept such surrender shall be valid unless in writing and signed by Landlord and each Superior Lessor and Superior Mortgagee whose lease or mortgage, as aforesaid will the case may be, provides that no such surrender may be extremely substantialaccepted without its consent.
(a) In the event this Lease is not renewed or extended or a new lease is not entered into between the parties, will exceed and if Tenant shall then hold over after the amount expiration or early termination of the monthly installments term of the Base Rent and Escalation Rent theretofore payable hereunderthis Lease, and will be impossible if Landlord shall then not proceed to measure accurately. remove Tenant therefore agrees from the demised premises in the manner permitted by law (or shall not have given written notice to Tenant that if possession Tenant must vacate the demised premises) irrespective of the Premises is whether or not surrendered to Landlord on or before the date that is thirty (30) days following accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the demised premises after the expiration of the term shall be under a month-to-month tenancy commencing on the first day after the expiration or early termination of the term, which tenancy shall be upon all of the terms set forth in addition this Lease except Tenant shall pay on the first day of each month of the holdover period as fixed annual rent, an amount equal to 150% of one-twelfth of the higher of (i) the fixed annual rent and additional rent payable by Tenant during the twelve (12) months preceding the expiration of the term of this Lease (annualized in the case of an early termination occurring less than 12 months after the Commencement Date and, in any event, without giving effect to any other rights abatement or remedies Landlord may have hereunder offset against such rents) or at law, and without in any manner limiting Landlord's right (ii) an amount equal to demonstrate and collect any damages suffered the then market rental value for the demised premises as shall be established by Landlord giving notice to Tenant of Landlord’s good faith estimate of such market rental value. Tenant may dispute such market rental value for the demised premises as estimated by Landlord by giving notice to Landlord within but in no event after twenty (20) days after the giving of Landlord’s notice to Tenant (as to the giving of which notice to Landlord, time shall be deemed of the essence). Enclosed with such notice, Tenant shall be required to furnish to Landlord the written opinion of a reputable New York licensed real estate broker having leasing experience in the Borough of Manhattan for a period of not less than ten (10) years, setting forth said broker’s good faith opinion of the market rental value of the demised premises. If Tenant and arising Landlord are unable to resolve any such dispute as to the market rental value for the demised premises then an independent arbitrator who shall be a real estate broker of similar qualifications and shall be selected from a listing of not less than three (3) brokers furnished by the AAA (or any successor thereto) to Tenant and Landlord (at the request of either Landlord or Tenant's failure ). If Landlord and Tenant are unable to surrender agree upon the Premises selection of the individual arbitrator from such listing, then the first arbitrator so listed by the AAA (or any successor thereto) shall be conclusively presumed to have been selected by both Landlord and Tenant and the decision of such arbitrator shall be conclusive and binding upon the parties as provided hereinto the market rental value for the demised premises. Pending the determination of the market rental value of the demised premises upon the expiration of the term of this Lease, Tenant shall pay to Landlord on account as fixed annual rent an amount computed in accordance with clauses (i) or (ii) of this Section 23.3(a) (as Landlord shall then elect), and upon determination of the market rental value of the demised premises in accordance with the preceding provisions hereof appropriate adjustments and payments shall be effected. Further, Landlord shall not be required to perform any work, furnish any materials or make any repairs within the demised premises during the holdover period. It is further stipulated and agreed that if Landlord shall, at any time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from the demised premises as a holdover, the fixed annual rent for the use and occupancy of the Premises for each month and prorated for each portion demised premises during any holdover period shall be calculated in the same manner as set forth above. In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages arising from such holdover as provided in Section 23.3(c) hereof.
(b) Notwithstanding anything to the contrary contained in this Lease, the acceptance of any month during which rent paid by Tenant holds over in the Premises after the Expiration Date, pursuant to Section 23.3(a) hereof shall not preclude Landlord from commencing and prosecuting a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) daysholdover or summary eviction proceeding, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date preceding sentence shall be deemed to be other than on account an “agreement expressly providing otherwise” within the meaning of Section 232-c of the amount to be paid by Real Property Law of the State of New York.
(c) If Tenant shall hold-over or remain in accordance with possession of any portion of the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive demised premises for more than sixty (60) days beyond the Expiration Date, Tenant shall be subject not only to summary proceeding and all damages related thereto, but also to any damages arising out of any lost opportunities (and/or new leases) by Landlord to re-let the demised premises (or any part thereof). All damages to Landlord by reason of such holding over by Tenant may be the subject of a separate action and need not be asserted by Landlord in any summary proceedings against Tenant.
Appears in 1 contract
End of Term. ABANDONED PROPERTY; HOLDOVER Upon the expiration or other termination of the Term of this LeaseSublease, Tenant Sublessee shall peaceably quit and surrender to Landlord Sublessor the PremisesSublease Premises and all alterations and additions thereto which Sublessee is not entitled or required to remove under the provisions of this Sublease, vacant, broom broom-clean, in good order order, repair and condition, ordinary condition (to the extent of Sublessee's repair and maintenance obligations under this Sublease) excepting only reasonable use and wear and tear and damage by fire or other casualty for which Tenant is not responsible which, under the terms other provisions of this Lease exceptedSublease, Sublessee has no responsibility of repair or restoration. Sublessee's obligation to observe or perform this covenant shall survive the expiration or other termination of the Term of this Sublease. If the last day of the Term of this Sublease or any renewal thereof falls on a day other than a Business Day, this Sublease shall expire on the Business Day immediately preceding. Any personal property in which Sublessee has an interest which shall remain in the Building or on the Sublease Premises after the expiration or termination of the Term of this Sublease shall be conclusively deemed to have been abandoned, and otherwise may be disposed of in compliance such manner as Sublessor may see fit. Notwithstanding the foregoing, Sublessee will, upon request of Sublessor made not later than 30 days after the expiration or termination of the Term hereof, promptly remove from the Building any personal property or, if any part thereof shall be sold, then Sublessor may receive and retain 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 payable hereunder by Sublessee to Sublessor and any damages to which Sublessor may be entitled under Article 15 hereof or pursuant to law, with the provisions balance if any, to be paid to Sublessee. In the event of Article 7 hereof Tenant acknowledges that possession holding over by Sublessee after expiration or other termination of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claimsthis Sublease, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Sublease Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal subsequent to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained such termination or expiration shall be deemed to permit Tenant to retain possession that of the Premises without written consent after the Expiration Date a tenancy at sufferance and in no event for month-to-month or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.year-to-year,
Appears in 1 contract
End of Term. Upon Tenant shall surrender the Demised Premises to Landlord at the expiration or other sooner termination of the term of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which by fire or other casualty, and Tenant is not responsible under shall remove all of its property there from. Tenant agrees that any personal property remaining in the terms Demised Premises following the expiration of the term of this Lease excepted(or such earlier date as of which the term hereof may have been terminated) shall for all purposes be deemed conveyed to and to be the property of Landlord who shall be free to dispose of such property, and otherwise at Tenant’s cost, in compliance with the provisions any manner Landlord deems desirable. Landlord may retain or assign any salvage or other residual value of Article 7 hereof such property. In consideration of Landlord’s disposing of such property, Tenant acknowledges that possession of the Premises must be surrendered shall reimburse Landlord or pay to Landlord on the Expiration Dateany cost that Landlord may incur in disposing of such property within ten (10) days after demand therefor. Tenant agrees to shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay of more than sixty (60) days by Tenant in so surrendering the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The Additionally, the parties recognize and agree that the other damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Demised Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Demised Premises is not surrendered to Landlord on within one (1) day after the expiration or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy sooner termination of the Premises term of this Lease, then Tenant will pay Landlord the following liquidated damages: (i) for each month and prorated for each of the first three months or portion of any month of such first three months during which Tenant holds over in the Demised Premises after the Expiration Dateexpiration or termination of the term of this Lease, a sum equal to one hundred twenty five and one-half (125%1.5) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent average fixed annual rent and other items of Rental additional rent which were payable per month under this Lease during the last month six (6) months of the Term term thereof; and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each any month and prorated for each or portion of any a month after such first three months during which Tenant holds over in the Demised Premises after expiration or termination of the Expiration Dateterm of this Lease, a sum equal to one hundred fifty two (150%2) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent average fixed annual rent and other items of Rental additional rent which were payable per month under this Lease during the last month six (6) months of the Term and (ii) term thereof. The aforesaid obligations shall survive the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession expiration or sooner termination of the Premises without written consent after term of this Lease. Anything in this Lease to the Expiration Date contrary notwithstanding, the acceptance of any rent shall not preclude Landlord from commencing and prosecuting a holdover or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseeviction proceeding, and no acceptance by Landlord of payments from Tenant after the Expiration Date preceding sentence shall be deemed to be other than on account an agreement expressly “providing otherwise” within the meaning of Section 232-c of the amount to be paid by Real Property Law of the State of New York and any successor law of like import. Tenant in accordance with expressly waives, for itself and for any person claiming through or under the Tenant, any rights which the Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which the Landlord may institute. Tenant’s obligations under this Section 24.21. The provisions of this Section 24.21 paragraph shall survive the Expiration Dateexpiration or sooner termination of the term of this Lease. At any time during the term of this Lease, Landlord may exhibit the Demised Premises to prospective purchasers, investors or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease, Landlord may exhibit the Demised Premises to prospective tenants. In all such showings, Landlord shall use commercially reasonable efforts to minimize any interference with Tenant’s business operations in the Demised Premises (it being understood and agreed, however, that such showings may take place on Business Days during Business Hours).
Appears in 1 contract
Samples: Lease Agreement (Shutterstock, Inc.)
End of Term. (a) Upon the expiration or other termination of this Leasethe Term, Tenant shall quit and surrender the Premises to Landlord the Premises, vacantLandlord, broom clean, in good order and conditionin condition (except for those repairs to the Premises for which Landlord is responsible hereunder) at least as good as when it was first occupied by Tenant hereunder, ordinary wear and tear only excepted, with all of Tenant’s Property removed therefrom. Landlord shall thereupon have the right immediately or at any time thereafter to re-enter and damage for which Tenant is not responsible under resume possession of or to re-let the terms Premises. If the last day of the Term or any renewal thereof falls on a Sunday, this Lease exceptedshall expire at noon on the preceding Saturday unless the preceding Saturday is a legal holiday, and otherwise in compliance with which case the provisions of Article 7 hereof Term shall expire at noon on the preceding business day.
(b) Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Term Expiration DateDate or the sooner termination of the Term. Tenant agrees to indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent Rent, Operating Expense Payment, Tenant’s Tax Payment and Escalation Rent additional rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on upon the Term Expiration Date or before the date that is thirty (30) days following sooner termination of the Expiration DateTerm, in addition to any other rights or remedies remedy Landlord may have hereunder or at law, and without in any manner limiting Landlord's ’s right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's ’s failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Term Expiration DateDate or sooner termination of the Term, a sum equal to one hundred twenty five (125%) of the greater product of (i) the aggregate of that portion of the Base Rent, Escalation Rent Operating Expense Payment, Tenant’s Tax Payment and other items of Rental additional rent which were was payable under this Lease during the last month of the Term and prior to such expiration or termination multiplied by (ii) the fair market value as reasonably determined by Landlord (A) 1.5 for the next ninety first thirty (9030) days, and thereafter Tenant shall pay to Landlord on account days of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term such holdover period and (iiB) the fair market value as reasonably determined by Landlord2 thereafter. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Term Expiration Date or sooner termination of the Term or to limit in any manner Landlord's ’s right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Term Expiration Date or the sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.216.10. The provisions of this Section 24.21 shall survive the Term Expiration DateDate or sooner termination of the Term.
Appears in 1 contract
Samples: Lease (Digitas Inc)
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove the Designated Alterations, the Fuel Tanks, and all of Tenant's Property from the Premises and the Real Property, and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord on the Expiration Dateand for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant's continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Dateover, a sum an amount equal to to: (a) one hundred twenty twenty-five percent (125%) of the greater total monthly amount of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Rent and other items of Rental which were Additional Rent payable under this Lease during hereunder immediately prior to such termination (the last month of the Term and (ii"Existing Rent") the fair market value as reasonably determined by Landlord for the next ninety first thirty (9030) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month days during which Tenant holds over in the Premises after the Expiration Dateover, a sum equal to (b) one hundred hundred- fifty percent (150%) of the greater Existing Rent for the next thirty (30) days during which Tenant holds over, and (c) two hundred percent (200%) of the Existing Rent thereafter. In addition, in the event that Landlord shall (i) the aggregate of that portion enter into a lease or occupancy agreement (a "New Lease") with a new tenant for all or any part of the Base RentPremises (a "New Tenant"), Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) give Tenant not less than sixty (60) days prior notice of such New Lease (which notice may be given prior to the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed Expiration Date, specifying the date Landlord is required to permit Tenant to retain deliver possession of the Premises without written consent or portion thereof to such New Tenant, then Tenant shall be liable to Landlord for (A) any payment or rent concession which Landlord may be required to make under such New Lease in order to induce such New Tenant not to terminate its lease by reason of the holding-over by Tenant, and (B) the loss of the benefit of the bargain if any New Tenant shall terminate its lease by reason of the holding-over by Tenant. The provisions of this Section 20.2 shall not in any way be deemed to (x) permit Tenant to remain in possession of the Premises after the Expiration Date or sooner termination of this Lease, or (y) imply any right of Tenant to limit in any manner Landlord's right to regain possession of use or occupy the Premises through summary proceedings, upon expiration or otherwisetermination of this Lease and the Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant's obligations under this Section 24.21 Article 20 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Digital Island Inc)
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof 3 hereof. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have to a "stay" under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Fixed Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty within twenty-four (3024) days following hours after the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five two (125%2) of the greater of (i) times the aggregate of that portion of the Base Fixed Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordTerm. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of this Section 24.21 Article 20 shall survive the Expiration Date.
Appears in 1 contract
End of Term. Upon Article 22 of the expiration Lease is hereby amended to add the following: In the event that Tenant remains in possession of the Demised Premises after the Expiration Date or other sooner termination of the term of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, then in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Demised Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises as liquidated damages for each month and prorated for each or portion of any a month during which Tenant holds over in the Demised Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal to one hundred twenty twenty-five percent (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Annual Rent and other items of Rental Additional Rent which were was payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord term hereof for the next ninety first thirty (9030) daysdays of such holdover, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Dateand, a sum equal to thereafter, one hundred fifty percent (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Annual Rent and other items of Rental Additional Rent which were was payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlordterm hereof. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Demised Premises without written consent after the Expiration Date or sooner termination of this Lease or to limit in any manner Landlord's right to regain possession of the Demised Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the term of this Lease shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article. Tenant agrees to indemnify and save Landlord harmless from all costs, claims, losses or liability resulting from delay by Tenant in surrendering the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The provisions of this Section 24.21 Article 44 shall survive the Expiration DateDate or sooner termination of the Lease. The preceding shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State of New York.
Appears in 1 contract
Samples: Rider to Lease Agreement (Premier Exhibitions, Inc.)
End of Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof 3. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming by, through or under Tenant, any rights that Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and/or any Requirement of similar purpose and import in connection with any holdover summary proceedings that Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, including attorneys' ’ fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, including any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Fixed Rent and Escalation Rent Rental theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty within twenty-four (3024) days following hours after the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at lawlaw or in equity, and without in any manner limiting Landlord's ’s right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's ’s failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to (a) during the first thirty (30) days of such holdover, one hundred twenty five and one half (125%1.5) of the greater of (i) times the aggregate of that portion of the Base Fixed Rent, Escalation Rent and other items of Rental which were that was payable under this Lease during the last month of the Term Term, and (iib) the fair market value as reasonably determined by Landlord for the next ninety (90) daysthereafter, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) two (2) times the aggregate of that portion of the Base Fixed Rent, Escalation Rent and other items of Rental which were that was payable under this Lease during the last month of the Term Term, and (ii) the then fair market rental value as reasonably determined by Landlordfor the Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's ’s right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of this Section 24.21 Article 20 shall survive the Expiration Date.
Appears in 1 contract
Samples: Lease Agreement (Travelzoo Inc)
End of Term. Upon Section 20.1. On the expiration Expiration Date or other sooner termination of this Lease, Tenant shall quit and surrender the Premises to Landlord the PremisesLandlord, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant’s Property from the Premises, and this obligation shall survive the Expiration Date or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2. Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to Landlord on after the Expiration DateDate or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the Expiration Date or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder under this Lease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided hereinunder applicable Laws, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over, an amount equal to: The greater of (a) 150% of the Fixed Rent and Additional Rent payable under this Lease for the last full calendar month of the Term, or (b) 150% of the fair market rental value of the Premises for such month (as determined by Landlord based upon the then most recent leases of space in the Building), for the thirty (30) day period (the “Initial Holdover Period” commencing date next succeeding the Expiration Date or earlier termination of this Lease and the Term, and the greater of (x) 200% of the Fixed Rent and Additional Rent payable under this Lease for the last full calendar month of the Term, or (y) 200% the fair market rental value of the Premises for such month (as determined by Landlord based upon the then most recent leases of space in the Building), for the period from and after the date succeeding the last day of Initial Holdover Period. In addition, Tenant shall be liable to Landlord for (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”) in order to induce such New Tenant not to terminate its lease by reason of the holding-over by Tenant, and (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. The provisions of this Section 20.2 shall not in any way be deemed to (A) permit Tenant to remain in possession of the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal or (B) imply any right of Tenant to one hundred twenty five (125%) use or occupy the Premises upon expiration or termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant’s obligations under this Section 24.21 Article 20 shall survive the Expiration DateDate or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Telx Group, Inc.)
End of Term. Section 18.1. Tenant shall, on the last day of the Term, or upon the earlier termination of this Lease, quit and surrender to Landlord the Premises vacant, free of all equipment, furniture and other personal property, and in good order and condition, reasonable wear and tear excepted, and Tenant shall remove or demolish all of the fixtures, fences and other improvements installed or constructed by Tenant to the extent Landlord shall have so designated pursuant to Section 6.5 of this Lease. Tenant shall repair any damage caused by the removal of any of its property. Tenant’s obligation to observe and perform this covenant shall survive the expiration or earlier termination of this Lease.
Section 18.2. Upon the expiration of the Term, or the earlier termination of this Lease, all Fixed Rent and Additional Rent and other items payable by Tenant under this Lease shall be apportioned as of the date of termination.
Section 18.3. Tenant shall have no right to occupy the Premises or any portion thereof after the expiration of this Lease or after termination of this Lease or of Tenant’s right to possession in consequence of an Event of Default hereunder. In the event Tenant or any party claiming by, through or under Tenant holds over (including failure to remove any personal property and fixtures required to be removed and failure to return the Premises to Landlord in the condition required hereunder) by the Expiration Date or earlier termination of this Lease, Landlord may exercise any and all remedies available to it at law or in equity to recover possession of the Premises, and Tenant shall indemnify and hold harmless Landlord in respect of any and all damages, costs, liabilities or expenses (including attorneys’ fees) suffered by Landlord in respect of Tenant’s holding over, as and when such costs, liabilities or expenses are incurred. In addition, for each and every month or partial month that Tenant or any party claiming by, through or under Tenant remains in occupancy of all or any portion of the Premises after the expiration of this Lease or after termination of this Lease or Tenant’s right to possession, Tenant shall pay, as minimum damages and not as a penalty, monthly rental at a rate equal to the Holdover Percentage of the rate of Fixed Rent and Additional Rent payable by Tenant hereunder immediately prior to the expiration or other termination of this Lease, Tenant shall quit and surrender Lease or of Tenant’s right to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delaypossession. The parties recognize and agree that “Holdover Percentage” shall mean 150% for the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty first sixty (3060) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, of holdover and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord200% thereafter. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no The acceptance by Landlord of payments from Tenant after any lesser sum shall be construed as payment on account and not in satisfaction of damages for such holding over. In no event shall any such holding over, or the Expiration Date shall receipt by Landlord of any amounts set forth in this Section 18.3, be deemed to be create any month to month or other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datetenancy.
Appears in 1 contract
End of Term. Upon On the expiration or other termination date upon which the Demised Term shall expire and come to an end, whether pursuant to any of the provisions of this LeaseLease or by operation of law, Tenant and whether or prior to the Expiration Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the Demised Premises to Landlord the Premises, vacantOwner, broom clean, clean and in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions (ii) shall remove all of Article 7 hereof Tenant's Personal Property and all other property and effects of Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. and all persons claiming through or under Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitationbut not limited to, attorneys' fees all telecommunications facilities) from the Demised Premises and disbursementsthe Building, and (iii) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the shall repair all damage to Landlord resulting from the Demised Premises and the Building occasioned by such removal. Owner shall have the right to retain any failure by Tenant to timely surrender possession of property and effects which shall remain in the Demised Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty after fifteen (3015) days following the Expiration Dategiving of a notice by Owner to Tenant requesting such property be removed, in addition which notice may be given at any time after the expiration or sooner termination of the Demised Term, and any net proceeds from the sale thereof, without waiving Owner's rights with respect to any other default by Tenant under the foregoing provisions of this Section. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or remedies Landlord any such person may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The 2201 of the New 44 York Civil Practice Law and Rules and of any successor law of like import then in force, in connection with any holdover summary proceedings which Owner may institute to enforce the foregoing provisions of this Article. If said date upon which the Demised Term shall expire and come to an end shall fall on a Sunday or holiday, then Tenant's obligations under the first sentence of this Section 24.21 shall be performed on or prior to the Saturday or business day immediately preceding such Sunday or holiday. Tenant's obligations under this Section shall survive the Expiration Dateexpiration or sooner termination of the Demised Term.
Appears in 1 contract
Samples: Lease Agreement (N2k Inc)
End of Term. Section 23.1 Upon the expiration or other earlier termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Premises broom-clean and in good order and condition, ordinary wear and tear excepted. Tenant shall remove all of its property and shall repair all damage for which to the Premises or the Building occasioned by such removal. Any property not removed from the Premises shall be deemed abandoned by Tenant is not responsible under and may be disposed of in any manner deemed appropriate by Landlord, the cost of the removal and repairs occasioned by such removal to be at Tenant’s expense. Tenant’s obligations to observe or perform the terms of this Lease exceptedParagraph shall survive the expiration or earlier termination of this Lease. Tenant expressly waives, for itself and otherwise in compliance with for any person claiming through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and any similar successor law of the same import then in force, in connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Article 7 hereof XXIII.
Section 23.2 If Tenant acknowledges that remains in possession of the Premises must after expiration of the Term, or after any permitted termination of the Lease by Landlord, with Landlord’s acquiescence and without any written agreement between the parties, Tenant shall be surrendered a tenant at sufferance and such tenancy shall be subject to Landlord on all the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claimsprovisions hereof, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree except that the damage monthly Base Rent for said holdover period shall be [***] percent ([***]%) the amount of Base Rent due in the last full month of the Term, and Tenant shall pay 1/12th of the previous year’s charges for all Additional Rent for each hold-over month. There shall be no renewal of this Lease by operation of law. Nothing in this Section shall be construed as a consent by Landlord to Landlord resulting from any failure by Tenant to timely surrender the possession of the Premises as aforesaid will be extremely substantial, will exceed by Tenant after the amount expiration or earlier termination of the monthly installments Term. In the event of the Base Rent any unauthorized holder-over, Tenant shall indemnify and Escalation Rent theretofore payable hereunder, and will be impossible hold harmless Landlord against all claims for damages by any other tenant to measure accurately. Tenant therefore agrees that if possession whom Landlord may have leased all or any part of the Premises is effective upon the termination of this Lease. Anything in this Article to the contrary notwithstanding, the acceptance of any rent paid by Tenant pursuant to this Article XXIII shall not surrendered to preclude Landlord on from commencing and prosecuting a holdover or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at lawsummary eviction proceeding, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date preceding sentence shall be deemed to be other than on account an “agreement expressly providing otherwise” within the meaning of Section 232-C of the amount Real Property Law of the State of New York and any successor law of like import.
Section 23.3 On or before the first day of the thirtieth month following the Commencement Date, either party hereto may, at any time, provide notice of its intent to terminate this Lease early for any reason including for its convenience. Tenant’s ability to provide such notice is subject to it being in compliance with all of its obligations hereunder, and there being no then-current uncured default under Article XVI hereof. Such notice shall be paid by in writing and may or may not specify a reason for the early termination. If notice is given, the early termination date shall be the first day of the thirty sixth month following the Commencement Date (the “Early Termination Date”). If Tenant chooses, in accordance with its discretion to specify a reason for its early termination, Landlord shall have thirty days in which to remedy or propose a remedy and to propose a schedule of implementation of the provisions remedy which may or may not be accepted in the sole discretion of Tenant. In the event that Tenant elects to terminate this Section 24.21. The provisions of this Section 24.21 Lease early for reason unrelated to Landlord’s default hereunder, Tenant shall survive be responsible for the Expiration Dateunamortized costs Landlord’s Work and leasing commissions.
Appears in 1 contract
Samples: Lease Agreement (NTN Buzztime Inc)
End of Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant Subtenant acknowledges that possession of the Premises must be surrendered to Landlord Sublandlord on the Expiration DateDate or earlier termination of this Sublease, in the condition required pursuant to Section 4(b), subject to normal wear and tear, condemnation, and casualty damage. Tenant agrees If for any reason Subtenant shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Sublease and the Term hereof, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Subtenant’s continued possession of the Premises is not surrendered shall be as a holdover tenant from month to Landlord on or before the date that is thirty (30) days following the Expiration Datemonth, during which time, without prejudice and in addition to any other rights or and remedies Landlord Sublandlord may have hereunder under this Sublease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant Subtenant shall pay to Landlord on account of use and occupancy of the Premises Sublandlord for each month and prorated for each portion of any month during which Tenant Subtenant holds over in the Premises after the Expiration Date, a sum an amount equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one one-hundred fifty percent (150%) of the greater of Monthly Base Rent in effect immediately prior to such holdover period. In addition, Subtenant hereby agrees to indemnify Sublandlord against and hold Sublandlord harmless from any and all reasonable costs and expenses (iincluding attorney’s fees and other charges) the aggregate of that portion which are paid or incurred by Sublandlord as a result of the Base Rentfailure of, Escalation Rent and other items or the delay by, Subtenant in so surrendering the Premises, including any claims made by Landlord or any succeeding tenant founded on such failure or delay. The provisions of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained Section 15 shall not in any way be deemed to (a) permit Tenant Subtenant to retain remain in possession of the Premises without written consent after the Expiration Date or sooner termination of this Sublease, or (b) imply any right of Subtenant to limit in any manner Landlord's right to regain possession of use or occupy the Premises through summary proceedings, upon expiration or otherwisetermination of this Sublease and the Term hereof, and no acceptance by Landlord Sublandlord of payments from Tenant Subtenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant Subtenant in accordance with the provisions of this Section 24.2115. The provisions of Subtenant’s obligations under this Section 24.21 15 shall survive the Expiration Dateexpiration or earlier termination of this Sublease.
Appears in 1 contract
End of Term. Section 21.1 All Tenant’s Property shall remain the property of Tenant and may be removed by Tenant at any time during the Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, broom-clean and in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and Tenant shall remove all of Tenant’s Property and the Non-Standard Alterations (except as otherwise expressly set forth in compliance with this Lease) from the Premises to the extent required under Section 4.4. Tenant shall repair any damage to the Premises occasioned by the removal by Tenant or any person claiming under Tenant of any of Tenant’s Property and all Non-Standard Alterations from the Premises. Tenant’s obligations pursuant to this Article 21 shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day next preceding such day. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to Landlord on enforce the Expiration Date. foregoing provisions of this Article 21.
Section 21.2 (a) Tenant agrees that if for any reason Tenant or any subtenant of Tenant shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a month-to-month tenancy, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall (1) pay to Landlord on account an amount equal to the greater of use (A) during the first sixty (60) days of any such holding over, one hundred and occupancy fifty percent (150%) and (B) thereafter, two hundred percent (200%) of (x) the total monthly amount of Fixed Rent and regularly recurring Additional Rent payable hereunder prior to such termination and (y) the then current market rent for the Premises for each month and prorated for each portion (2) comply with all other terms and conditions of this Lease. The provisions of this Section 21.2 shall not in any month during which way be deemed to (i) permit Tenant holds over to remain in possession of the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and or (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter imply any right of Tenant shall pay to Landlord on account of use and occupancy of or occupy the Premises for each month and prorated for each portion upon expiration or termination of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 21. Landlord waives no rights against Tenant by reason of accepting any holding over by Tenant, including without limitation the right to terminate such month-to-month tenancy as provided by law at any time after the expiration of the Term and any right to damages in the event that Tenant’s holding over causes Landlord to suffer any loss to the extent provided in Section 24.2121.2(b) hereof. The provisions of Tenant’s obligations under this Section 24.21 Article 21 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (MSCI Inc.)
End of Term. Upon Section 24.1 On the expiration or Expiration Date (a) Tenant (and all other termination of this Lease, Tenant occupants) shall quit vacate and surrender to Landlord the Premises, vacant, broom clean, clean and in good order and condition, except for ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedlease, and otherwise in compliance with as may be required by this lease, and (b) Tenant shall remove all of Tenant's Property and any Tenant's Work required to be removed pursuant to this lease. If the provisions of Article 7 hereof Tenant acknowledges that possession last day of the Term is not a Business Day, this lease shall expire on the immediately preceding Business Day.
Section 24.2 If the Premises must are not vacated and surrendered in accordance with this lease, on the date required by this lease, Tenant shall be surrendered liable to Landlord on the Expiration Date. for (a) all losses, costs, liabilities and damages which Landlord incurs by reason thereof, including reasonable attorneys' fees, and Tenant agrees to indemnify shall indemnify, defend and save hold harmless Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to tenants against Landlord or otherwise resulting from any the failure by of Tenant (and all other occupants) timely to timely vacate and surrender possession the Premises in accordance with this lease, and (b) per diem use and occupancy in respect of the Premises as aforesaid will be extremely substantial, will exceed equal to twice the amount Rent payable under this lease for the last year of the monthly installments of Term (which Landlord and Tenant presently agree is the Base Rent to which Landlord would be entitled, is presently contemplated by them as being fair and Escalation Rent theretofore payable hereunderreasonable under such circumstances and is not a penalty). In no event, however, shall this Section be construed as permitting Tenant (and will be impossible all other occupants) to measure accurately. Tenant therefore agrees that if remain in possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) .
Section 24.3 Any obligation of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable Landlord or Tenant under this Lease during lease which by its nature or under the last month circumstances can only be, or by the terms of this lease may be, performed after the Term Expiration Date and (ii) the fair market value as reasonably determined by Landlord any liability for the next ninety (90) days, and thereafter Tenant shall pay a payment with respect to Landlord any period ending on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after or before the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rentunless otherwise set forth in this lease, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.
Appears in 1 contract
End of Term. 1. Upon the expiration or earlier termination of the Term of this Lease, Tenant shall surrender the Premises to Landlord in the same condition and suitable for the same use in which the Premises was originally received from Landlord except as repaired, rebuilt or altered as required or permitted by this Lease (or, in the case of termination pursuant to Section 19, as condemned), and shall surrender all keys to the Premises to Landlord at the place then fixed for notices to Landlord and shall inform Tenant of all combinations on locks, safes and vaults, if any. Except as otherwise provided herein, Tenant shall at such time remove all of its property (including Tenant's trade fixtures) therefrom and all alterations and improvements placed thereon by Tenant and not consented to by Landlord, if so requested by Landlord. Tenant shall repair any damage to the Premises caused by such removal, and any and all such property not so removed when required shall, at Landlord's option, become the exclusive property of Landlord or be disposed of by Landlord, at Tenant's cost and expense, without further notice to or demand upon Tenant. Notwithstanding the foregoing, Tenant shall have no obligation to surrender any of Tenant's trade fixtures
2. If the Premises are not surrendered as above set forth, Tenant shall indemnify, defend and hold Landlord harmless from and against loss or liability resulting from the delay by Tenant in so surrendering Premises, including, without limitation, any claim made by any succeeding occupant founded on such delay. Tenant's obligation to observe or perform this covenant shall survive the expiration or other termination of this Lease. This Lease shall continue from month to month on the same terms and conditions as herein provided, unless and until either Landlord or Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of terminates this Lease excepted, and otherwise in compliance with by giving the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty other at least (30) days following the Expiration Date, in addition written notice. The provisions of this paragraph 6 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Lessor provided herein, at law or at equity.
3. All property of Tenant not removed on or before the last day of the Term of this Lease shall be deemed abandoned. Tenant hereby agrees that Landlord may have hereunder remove all property of Tenant, including Tenant's trade fixtures, from the Premises upon termination of this Lease and to cause its transportation and storage, all at the sole cost and risk of Tenant and Landlord shall not be liable for damage, theft, misappropriation or at law, loss thereof and without Landlord shall not be liable in any manner limiting Landlord's right in respect thereto and Landlord shall be entitled to demonstrate dispose of such property, as Landlord deems fit without the requirement of an accounting. Tenant shall pay all costs and collect expenses of such removal, transportation and storage. Tenant shall reimburse Landlord upon demand for any damages suffered expenses reasonably and actually incurred by Landlord with respect to removal or storage of abandoned property and arising from Tenant's failure with respect to restoring said Premises to good order, condition and repair.
4. Except for surrender upon the Premises expiration or earlier termination of the Term hereof as expressly provided herein, Tenant shall pay no surrender to Landlord on account of use and occupancy this Lease or of the Premises for each month shall be valid or effective unless agreed to and prorated for each portion of any month during which Tenant holds over accepted in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined writing by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.
Appears in 1 contract
Samples: Lease (Infe Human Resources Inc)
End of Term. Upon On the expiration Expiration Date, or other upon any earlier ----------- termination of this LeaseSublease, Tenant Sublessee shall quit and surrender the Subleased Premises to Landlord Sublessor broom-clean and in as good order, condition and repair as the Premises, vacant, broom clean, in good order and condition, Subleased Premises existed upon the Commencement Date except for ordinary wear and tear tear, any restoration of the Subleased Premises not required pursuant hereto, damage or destruction by fire and other casualty and such other damage for the repair of which Tenant is not responsible under the terms of this Lease exceptedSublessee's obligation hereunder (provided no such damage shall be due to Sublessee's negligence or misconduct), and otherwise in compliance accordance with the applicable provisions of Article 7 hereof Tenant acknowledges the Lease. Sublessee recognizes that possession of Sublessor may suffer substantial damage if Sublessee fails to surrender and vacate the Subleased Premises must be surrendered to Landlord on the Expiration Date. Tenant Sublessee, therefore, agrees that if Sublessee shall hold-over or remain in possession beyond the Expiration Date of this Sublease, Sublessee shall in addition to the provisions of Xxxxxxxxx 00 xxxxx, xx liable for all compensatory damages directly related thereto and arising therefrom, including any damages arising out of any lost opportunities ( and/or new leases) in connection with such holding over. All damages to Sublessor by reason of such holding-over by Sublessee may be the subject of a separate action and need not be asserted by Sublessor in any summary proceeding against Sublessee. Sublessee further agrees to indemnify Sublessor against and save Landlord harmless from any and against all claims, losses, liabilities, damages, liabilities, costs and expenses (including, without limitation, including reasonable attorneys' fees and disbursementsfees) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage Sublessor incurs to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedingsdispossess Sublessee, or otherwise, and no acceptance by Landlord of payments resulting from Tenant after Sublessee's failure to vacate the Subleased Premises on the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of Date. Sublessee's obligations under this Section 24.21. The provisions of this Section 24.21 Paragraph 17 shall survive the Expiration Datetermination of this Sublease.
Appears in 1 contract
Samples: Sublease Agreement (Xoom Inc)
End of Term. Upon 26.01 If the expiration Subleased Premises are not surrendered upon the Expiration Date or other earlier termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms term of this Lease exceptedSublease, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to Subtenant shall indemnify and save Landlord harmless from and Sublandlord against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) liability actually resulting from delay or failure by Tenant Subtenant in so surrendering the Subleased Premises, including, without limitation, including any claims made by any succeeding tenant Master Landlord founded on upon such delay. The parties recognize and agree that In the damage to Landlord resulting from any failure by Tenant to timely surrender event Subtenant remains in possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Subleased Premises after the Expiration Datetermination of this Sublease, Subtenant, at the option of Sublandlord, shall be deemed to be occupying the Subleased Premises as a sum tenant from month to month, at a monthly rental equal to one hundred twenty five two and one-half (125%2.5) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Rent and other items of Rental which were Additional Rent payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) daysterm, and thereafter Tenant shall pay subject to Landlord on account of use and occupancy all of the Premises for each other terms of this Sublease insofar as the same are applicable to a month-to-month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable tenancy. Subtenant’s obligations under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 Article shall survive the Expiration Datetermination of this Sublease.
26.02 Subtenant shall remove from the Subleased Premises at the expiration of the term of this Sublease, all furniture, furnishings, trade fixtures and personal property of Subtenant, and any and all improvements and fixtures installed by Subtenant at the Subleased Premises to the extent required under the Master Lease and perform all other obligations otherwise required to surrender the Subleased Premises in the condition required under the Master Lease; provided that Subtenant shall not be required to remove any alterations or installations in the Subleased Premises except if installed by Subtenant (or its contractors) and then only to the extent required to be removed pursuant to the terms of the Master Lease. In the event any such removal results in any damage to the Subleased Premises or leaves any portion thereof in an unpresentable condition for use by others, as determined in Sublandlord’s reasonable judgment, Subtenant, at Sublandlord’s option, shall at Subtenant’s expense repair such damages or remedy such condition to a presentable state.
Appears in 1 contract
Samples: Sublease (BKF Capital Group Inc)
End of Term. Upon In the expiration or other termination of this Lease, event Tenant shall quit and fails to surrender the Demised Premises to Landlord in the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under condition required by the terms of this Lease exceptedlease on or before the expiration or earlier termination of this lease, Tenant shall: one hundred fifty (150%) percent of the Rent payable by Tenant for the third month prior to the Expiration Date, with respect to the first two months of holdover only, and two hundred (200%) percent of the Rent payable by Tenant for the third month prior to the Expiration Date of the term of this lease with respect to any further holdover, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in compliance accordance with the provisions of Article 7 hereof Tenant acknowledges that possession its terms; (ii) be liable to Landlord for any payment or rent concession which Landlord may be required to make to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Demised Premises must by reason of the holdover by Tenant; and (iii) be surrendered liable to Landlord on the Expiration Date. Tenant agrees to indemnify and save for any actual damages suffered by Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, including any reasonable attorneys' ? fees and disbursements) resulting from delay by Tenant in so surrendering as the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession result of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's Tenant?s failure to surrender the Premises as provided hereinDemised Premises. Notwithstanding anything contained in this Paragraph to the contrary, Tenant shall pay to Landlord on account the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Paragraph 52, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereof. The provisions of this Paragraph 52 shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Premises Real Property Law of the State of New York and any successor law of like import. Tenant expressly waives, for each month itself and prorated for each portion any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any month during successor law of like import then in force, in connection with any holdover or summary proceeding which Landlord may institute to regain possession of the Demised Premises. No holding over by Tenant holds over after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Demised Premises, of a person deriving an interest in the Demised Premises after from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant in the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease entire Demised Premises. If at any time during the last month of the Term and (ii) Tenant shall have removed all or substantially all of Tenant's property from the fair market value as reasonably determined by Demised Premises, Landlord for the next ninety (90) daysmay, and thereafter Tenant shall pay hereby irrevocably grants to Landlord on account a license to, immediately enter and alter, renovate and redecorate the Demised Premises, without elimination, diminution or abatement of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed or incurring liability to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in for any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwisecompensation, and such acts shall have no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of effect upon this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datelease.
Appears in 1 contract
End of Term. Upon Section 20.1 On the expiration Expiration Date or other sooner termination of this Lease, Tenant shall quit and surrender the Premises to Landlord the PremisesLandlord, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise Tenant shall remove all of Tenant’s Property (including, on the Expiration Date or earlier Roof Space Expiration Date, the Antenna Equipment, which shall include all of the cabling and electricity, supply and return lines, and the conduits and risers therefor referred to in compliance with Section 10.10) and the Non-Standard Alterations from the Premises, and this obligation shall survive the Expiration Date or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to Landlord on after the Expiration DateDate or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the Expiration Date or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder under this Lease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided hereinunder applicable Laws, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Dateover, a sum an amount equal to one hundred twenty five (125%) of the greater of to: (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty percent (150%) of the greater total monthly amount of Fixed Rent and Additional Rent payable hereunder immediately prior to the Expiration Date or earlier termination (ithe “Existing Rent”) for the aggregate first thirty (30) days during which Tenant remains in possession of that all or any portion of the Base RentPremises, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) two hundred percent (200%) of the fair market value as reasonably determined by LandlordExisting Rent thereafter. Nothing herein contained The provisions of this Section 20.2 shall not in any way be deemed to (A) permit Tenant to retain remain in possession of the Premises without written consent after the Expiration Date or sooner termination of this Lease, or (B) imply any right of Tenant to limit in any manner Landlord's right to regain possession of use or occupy the Premises through summary proceedings, upon expiration or otherwisetermination of this Lease and the Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant’s obligations under this Section 24.21 Article 20 shall survive the Expiration DateDate or earlier termination of this Lease.
Appears in 1 contract
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Dateits property. Tenant agrees to it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights Date or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy sooner termination of the Premises Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to one hundred twenty five and one-half (125%1.5) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation average Rent and other items of Rental Additional Rent which were was payable per month under this Lease during the last month six months of the Term and (ii) the fair market value as reasonably determined by Landlord thereof for the next first ninety (90) days, days of such holdover and thereafter time (2) times the average Rent and Additional Rent. Tenant shall also pay all Additional Rent as incurred in the normal course of operations under the Lease. Tenant shall not be responsible for any consequential damages to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which unless Tenant holds over in the Premises after for a period of in excess of thirty (30) days. The aforesaid obligations shall survive the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or sooner termination of the Term and of this Lease. At any time during the Term of this Lease, during business hours upon reasonable advance notice to Tenant (ii) which may be given in person or by telephone), Landlord may exhibit the fair market value as reasonably determined by Premises to prospective purchasers or mortgagees of Landlord’s interest therein. Nothing herein contained shall be deemed to permit Tenant to retain possession During the last year of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of Term, Landlord may exhibit the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed · to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateprospective tenants.
Appears in 1 contract
End of Term. Upon Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary broom-clean, except for reasonable wear and tear and damage tear. In addition to any other remedies available at law for which Tenant’s holdover, Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must shall be surrendered liable to Landlord on the Expiration Date. for all actual damages, that Landlord may suffer by reason of any holding over by Tenant agrees to indemnify (and Tenant shall indemnify, defend, and save Landlord harmless from and against against) the following: (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 by reason of the holding-over by Tenant, (ii) the loss of the benefit of the bargain if any such tenant shall terminate its lease by reason of the holding-over by Tenant all costs, claims, lossesloss, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, and (iii) any claims made by any succeeding tenant founded on such any delay. The parties recognize All Alterations made by Landlord or Tenant to the Premises shall become Landlord’s property on the expiration or sooner termination of the Lease Term. On the expiration or sooner termination of the Lease Term, Tenant, at its expense, shall remove from the Premises all of Tenant’s personal property, all computer and agree telecommunications wiring, and all non-standard office alterations that the Landlord designates to be removed in Landlord’s consent to such alterations. Tenant shall also repair any damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed caused by the amount removal. Any items of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees Tenant’s property that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over remain in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) expiration or sooner termination of the greater Lease Term, may, at the option of (i) the aggregate of that portion of the Base RentLandlord, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwisehave been abandoned, and no acceptance in that case, those items may be retained by Landlord of payments from Tenant after the Expiration Date shall be deemed as its property to be disposed of by Landlord, without accountability to Tenant or any other than on account of party, in the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 manner Landlord shall survive the Expiration Datedetermine, at Tenant’s expense.
Appears in 1 contract
Samples: Office Lease (Direct Insite Corp)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delayits personal property. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Dateexpiration or termination of the Term of this Lease, a sum equal to (x) for the first thirty (30) days of such holdover, one hundred twenty five and one-half (125%1½) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation average Fixed Annual Rent and other items of Rental Additional Rent which were was payable per month under this Lease during the last month six (6) months of the Term Term, and (iiy) commencing on the fair market value as reasonably determined by Landlord for thirty-first (31st) day of such holdover and thereafter, two (2) times the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation average Fixed Annual Rent and other items of Rental Additional Rent which were was payable per month under this Lease during the last month six (6) months of the Term. The aforesaid obligations shall survive the expiration or sooner termination of the Term of this Lease.
12.02 At any reasonable time during the Term of this Lease and (ii) upon reasonable prior notice, Landlord may exhibit the fair market value as reasonably determined Premises to prospective purchasers or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease, Landlord may, at all reasonable times and upon reasonable prior notice exhibit the Premises to prospective tenants. With respect to Landlord’s access pursuant to this Section 12.02, Tenant shall have the right to designate, by advance written notice to Landlord. Nothing herein contained , certain “secured areas” in the Premises not to exceed 2,500 rentable square feet with respect to which Landlord’s rights of access shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datereasonably restricted.
Appears in 1 contract
End of Term. Upon the expiration or other termination of the Term of this Leaselease, Tenant shall shall, at its own expense, quit and surrender to Landlord the Demised Premises, vacant, broom clean, in good order and condition, ordinary wear and wear, tear and damage for which Tenant is not responsible under the terms of this Lease by fire or other insured casualty excepted, and otherwise Tenant shall remove all of its property and shall pay the cost to repair all damage to the Demised premises or the Building occasioned by such removal. Other than initial Tenant installations, all fixtures, and all panelling, permanent partitions, railings, staircases and like installations, installed in compliance the Premises at any time, either by Tenant or by Landlord on Tenant's behalf, shall become the property of Landlord and shall remain upon and be surrendered with the provisions of Article 7 hereof premises unless Landlord, by notice to Tenant acknowledges that possession of the Premises must be surrendered no later than twenty (20) days prior to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following fixed as the Expiration Date, elects to have them removed by Tenant, in addition which event, the same shall be removed from the Premises by Tenant forthwith at Tenant's expense and the Premises shall be returned to any other rights its original condition. Any property not removed from the Premises shall be deemed abandoned by Tenant and may be retained by Landlord, as its property, or remedies Landlord may have hereunder or at law, and without disposed of in any manner limiting deemed appropriate by the Landlord's right to demonstrate and collect any damages suffered . Any expense incurred by Landlord and arising from in removing or disposing of such Tenant's failure to surrender the Premises as provided herein, Tenant property shall pay be reimbursed to Landlord by Tenant on account of use and occupancy demand. If the last day of the Premises for each month and prorated for each portion term of this lease or any month during which Tenant holds over in renewal hereof falls on Sunday or a legal holiday, this lease shall expire on the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable business day immediately preceding. Tenant's obligations under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant Article 16 shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after survive the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions sooner termination of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datelease.
Appears in 1 contract
End of Term. ABANDONED PROPERTY Upon the expiration or other termination of the Term of this Lease, Tenant shall peaceably quit and surrender to Landlord the Premises, vacant, broom clean, in good order Demised Premises and condition, ordinary wear all alterations and tear and damage for additions thereto which Tenant is not responsible entitled or required to remove under the terms provisions of this Lease exceptedbroom clean and in good order, repair and otherwise in compliance with the condition excepting only reasonable use and wear and damage by fire or other casualty for which, under other provisions of Article 7 hereof this Lease, Tenant acknowledges that has no responsibility of repair or restoration. Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of the Term of this Lease. If the last day of the Term of this Lease or any renewal thereof falls on a day other than a Business Day, this Lease shall expire on the Business Day immediately preceding. Tenant shall pay 150% of the amount of Rent (calculated at the rate most recently in effect) applicable to each month or fraction thereof during which Tenant remains in possession of any part of the Demised Premises must be surrendered in violation of the foregoing covenants, without prejudice to eviction and any other remedy available to Landlord on account thereof. Any personal property in which Tenant has an interest which shall remain in the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering Building or on the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that Demised Premises after the damage to Landlord resulting from any failure by Tenant to timely surrender possession expiration or termination of the Premises as aforesaid will Term of this Lease shall be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunderconclusively deemed to have been abandoned, and will may be impossible to measure accurately. disposed of in such manner as Landlord may see fit; provided however, notwithstanding the foregoing, that Tenant therefore agrees that if possession will, upon request of the Premises is Landlord made not surrendered to Landlord on or before the date that is later than thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or termination of the Term hereof, promptly remove from the Building any such personal property or, if any part thereof shall be sold, that Landlord may receive and (ii) retain the fair market value as reasonably determined 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 payable hereunder by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of any damages to which Landlord may be entitled under Article 19 or pursuant to law, with the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Datebalance if any, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateto Tenant.
Appears in 1 contract
Samples: Lease Agreement (Viryanet LTD)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Dateits property. Tenant agrees to it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any the first month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to one hundred twenty five and one-half (125%1 1/2) times the average Rent which was payable per month under this Lease during the last six months of the greater of (i) Term thereof and for the aggregate of that portion second and subsequent months during which Tenant holds over in the Premises after expiration or termination of the Base RentTerm of this Lease, Escalation a sum equal to two (2) times the Rent and other items of Rental which were was payable per month under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter thereof. Tenant shall also pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over all Additional Rent as incurred in the Premises after normal course of operations under the Expiration Date, a sum equal to one hundred fifty (150%) of Lease. The aforesaid obligations shall survive the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or sooner termination of the Term and (ii) of this Lease. At any time during the fair market value as reasonably determined by Term of this Lease, Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein. Nothing herein contained shall be deemed to permit Tenant to retain possession During the last year of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession term of this Lease, Landlord may exhibit the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateprospective tenants.
Appears in 1 contract
Samples: Lease Agreement (Nymagic Inc)
End of Term. Upon On the expiration Expiration Date, or other upon any earlier termination of this LeaseSublease, Tenant Sublessee shall quit and surrender the Subleased Premises to Landlord Sublessor broom-clean and in as good order, condition and repair as the Premises, vacant, broom clean, in good order and condition, Subleased Premises existed upon the Commitment Date except for ordinary wear and tear tear, any restoration of the Subleased Premises not required pursuant hereto, damage or destruction by fire and other casualty and such other damage for the repair of which Tenant is not responsible under the terms of this Lease exceptedSublessee's obligation hereunder (provided no such damage shall be due to Sublessee's or misconduct), and otherwise in compliance accordance with the applicable provisions of Article 7 hereof Tenant acknowledges the Lease. Sublessee recognizes that possession of Sublessor may suffer substantial damage if Sublessee fails to surrender and vacate the Subleased Premises must be surrendered to Landlord on the Expiration Date. Tenant Sublessee, therefore, agrees that if Sublessee shall hold-over or remain in possession beyond the Expiration Date of this Sublease, Sublessee shall in addition to the provision of Paragraph 31 below, be liable for alx xxxxxxxxxxxx xxxxxxs directly related thereto and arising therefrom, including any damages arising out of any lost opportunities (and/or new lease) in connection with such holding over. All damages to Sublessor by reason of such holding-over by Sublessee may be the subject of a separate action and need not be asserted by Sublessor in any summary proceeding against Sublessee. Sublessee further agrees to indemnify Sublessor against and save Landlord harmless from any and against all claims, losses, liabilities, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursementsincluding reasonable attorney's fees) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage Sublessor incurs to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedingsdispossess Sublease, or otherwise, and no acceptance by Landlord of payments resulting from Tenant after Sublessee's failure to vacate the Subleased Premises on the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of Date. Sublessee's obligations under this Section 24.21. The provisions of this Section 24.21 Paragraph 17 shall survive the Expiration Datetermination of this Sublease.
Appears in 1 contract
End of Term. Upon 24.01 Tenant acknowledges that the expiration or other termination of this LeaseDemised Premises must be surrendered to Landlord, Tenant shall quit vacant and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under excepted, at the terms expiration or sooner termination of the Term of this Lease exceptedand that all improvements, additions and otherwise in compliance with alterations thereto previously made by Tenant (other than Initial Improvements) of which Landlord shall have notified Tenant at the provisions time of Article 7 hereof Tenant acknowledges that possession Landlord's approval of the Premises must be surrendered to plans therefor that Landlord on requires the removal of such improvements, additions and/or alterations at or before the Expiration DateDate or upon the sooner termination of this Lease, shall, at Landlord's option, be removed and the Demised Premises restored at Tenant's sole expense. Tenant's obligations hereunder shall survive the expiration or sooner termination of this Lease.
24.02 Tenant agrees to indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the PremisesDemised Premises as set forth in Section 24.01, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and hereto agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession reasonable value of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Demised Premises beyond the date of the expiration or sooner termination of the Term of this Lease (the "Termination Date") is a sum equal to two and one-half times the Base Annual Rent and Additional Rent which was payable in or attributable to the last month of the Term thereof (the "Use and Occupancy Fee"). Accordingly, Tenant agrees that if the Demised Premises are not surrendered to Landlord within seven (7) days after the Termination Date, Tenant shall pay the Use and Occupancy Fee to Landlord for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Termination Date.
24.03 The parties hereto specifically agree that, a sum equal in the event Tenant does not surrender the Demised Premises to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent Landlord and other items of Rental which were payable under this Lease during the last month of the Term Tenant is charged for and (ii) the fair market value pays such amounts as reasonably determined by Landlord set forth in Section 24.02 for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over premises, all as set forth in the Premises after preceding paragraph, such occupancy, the Expiration Datemaking of such payments and the acceptance of such payments by Landlord shall not create, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall not be deemed to permit Tenant create, any tenancy, month to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, month or otherwise, and no acceptance of Tenant beyond the Termination Date. No holding over by Landlord of payments from Tenant after the Expiration Date Term shall operate to extend the Term. In the event of any unauthorized holding over, Tenant shall indemnify and hold harmless Landlord against all claims for damages by any other tenant to whom Landlord may have leased all or any part of the Demised Premises effective upon the termination of this Lease. Anything in this Article to the contrary notwithstanding, the acceptance of any rent paid by Tenant pursuant to Section 24.02 shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the provisions of this Section 24.03 shall be deemed to be other than on account an "agreement expressly providing otherwise" within the meaning of Section 232-c of the amount to be paid by Tenant in accordance with Real Property Law of the provisions State of this Section 24.21New York and any successor or similar law of like import. The provisions of this Section 24.21 Article shall survive the Expiration Termination Date.
24.04 Tenant expressly waivers, for itself and for any person claiming through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and any similar successor law of same import then in force in connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Article. No act or thing done by Landlord or its agents or employees shall be deemed an acceptance of a surrender of this Lease or the Premises, and no agreement to accept such surrender shall be valid unless in writing and signed by Landlord.
Appears in 1 contract
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant's Property from the Premises, and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord on the Expiration Dateand for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant's continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a "month-to-month" tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over over, an amount equal to one and one half (1 1/2) times the total monthly amount of Fixed Rent and Additional Rent payable hereunder. The provisions of this Section 20.2 shall not in any way be deemed to (a) permit Tenant to remain in possession of the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month or (b) imply any right of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of or occupy the Premises for each month and prorated for each portion upon expiration or termination of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant's obligations under this Section 24.21 Article 20 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
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End of Term. Upon the expiration Expiration Date, or other earlier termination of the term of this Lease, Tenant shall quit quit, surrender and surrender deliver to Landlord the Premises, vacant, broom clean, Demised Premises in good working order and condition, “broom clean”, ordinary wear and tear tear, damage by acts of God, and damage for which Tenant is not responsible under the terms of this Lease excepteddue to a casualty or condemnation, excepted and otherwise in compliance with the provisions of Article 7 hereof shall remove all Tenant’s Property therefrom. Tenant acknowledges that possession of the Demised Premises must be surrendered to Landlord on at the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering expiration or sooner termination of the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delayterm of this Lease. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Demised Premises as aforesaid will be extremely substantial, will may exceed the amount installments of the monthly installments of the Base annual Fixed Rent and Escalation Additional Rent theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Demised Premises is not surrendered to Landlord on or before the date that is thirty (30) days following expiration or sooner termination of the Expiration Dateterm of this Lease, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, then Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Demised Premises after the Expiration Dateexpiration or sooner termination of the term of this Lease, a sum equal to one hundred twenty five (125%) 150% of the greater of (i) the aggregate of that portion of the Base Rent, Escalation monthly Fixed Rent and other items of Rental which were was payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord term hereof, for the next ninety (90) days, first two months Tenant so holds over and thereafter Tenant shall pay to Landlord on account of use and occupancy 200% of the Premises for each month and prorated for each portion of any month during monthly Fixed Rent which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were was payable under this Lease during the last month of the Term and (ii) term hereof thereafter, together with, in all instances, all Additional Rent which would otherwise have been payable hereunder had this Lease been extended. In addition, Tenant shall indemnify Landlord against all claims made by any succeeding tenant against Landlord founded upon delay by Landlord in delivering possession of the fair market value Premises to such succeeding tenant by more than 90 days, so far as reasonably determined such delay is occasioned by Landlordthe failure of Tenant or any subtenant to so surrender the Demised Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Demised Premises without written consent after the Expiration Date expiration or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord term of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the this Lease. The aforesaid provisions of this Section 24.21. The provisions of this Section 24.21 paragraph shall survive the Expiration Dateexpiration or sooner termination of the term of this Lease. In addition to the foregoing, should Landlord incur any expense in removing Tenant, any subtenant, or any other person holding by, through, or under Tenant or any subtenant, who has failed to so surrender the Demised Premises or any part thereof, Tenant shall reimburse Landlord for the reasonable cost and expense (including, without limitation, reasonable attorneys’ fees, disbursements and court costs) of removing such subtenant or such person.
Appears in 1 contract
Samples: Lease (SoulCycle Inc.)
End of Term. ABANDONED PROPERTY Upon the expiration or other termination of the Term of this Lease, Tenant shall peaceably quit and surrender to Landlord the Premises, vacant, broom clean, in good order Demised Premises and condition, ordinary wear all alterations and tear and damage for additions thereto which Tenant is not responsible entitled or required to remove under the terms provisions of this Lease, broom clean in good order, repair and condition excepting only reasonable use and wear and damage by fire or other casualty for which, under other provisions of this Lease, Tenant has no responsibility of repair or restoration. Tenant's obligation to observe or perform this covenant shall survive the expiration or other termination of the Term of this Lease. If the last day of the Term of this Lease exceptedor any renewal thereof falls on a day other than a Business Day, this Lease shall expire on the Business Day immediately preceding. Any personal property in which Tenant has an interest which shall remain in the Building or on the Demised Premises after the expiration or termination of the Term of this Lease shall be conclusively deemed to have been abandoned, and otherwise may be disposed of in compliance with such manner as Landlord may see fit; provided, however, notwithstanding the provisions foregoing, that Tenant will, upon request of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is later than thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or termination of the Term hereof, promptly remove from the Building any such personal property or, if any part thereof shall be sold, that Landlord may receive and (ii) retain the fair market value as reasonably determined 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 payable hereunder by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of any damages to which Landlord may be entitled under Article 19 hereof or pursuant to law, with the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Datebalance if any, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateto Tenant.
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End of Term. Upon On the expiration Expiration Date, or other upon any earlier termination of this LeaseSublease, Tenant Sublessee shall quit and surrender the Subleased Premises to Landlord Sublessor broom-clean and in as good order, condition and repair as the Premises, vacant, broom clean, in good order and condition, Subleased Premises existed upon the Commencement Date except for ordinary wear and tear tear, any restoration of the Subleased Premises not required pursuant hereto, damage or destruction by fife and other casualty and such other damage for the repair of which Tenant is not responsible under the terms of this Lease exceptedSublessee's obligation hereunder (provided no such damage shall be due to Sublessee's negligence or misconduct), and otherwise in compliance accordance with the applicable provisions of Article 7 hereof Tenant acknowledges the Lease. Anything to the contrary contained in the Lease or this Sublease notwithstanding, it is understood and agreed that possession upon the expiration or termination of this Sublease, Sublessee shall not be required to tear down or undo the Initial Alterations or any other alterations approved pursuant hereto, including but not limited to the three (3) electrical outlets and the electrical circuits installed for the 3 Phase 208 volt electric current needed by Sublessee. Sublessee recognizes that Sublessor may suffer substantial damage if Sublessee fails to surrender and vacate the Subleased Premises must be surrendered to Landlord on the Expiration Date. Tenant Sublessee, therefore, agrees that if Sublessee shall hold-over or remain in possession beyond the Expiration Date of this Sublease, Sublessee shall in addition to the provisions of Xxxxxxxxx 00 xxxxx, xx liable for all compensatory damages directly related thereto and arising therefrom, including any damages arising out of any lost opportunities ( and/or new leases) in connection with such holding over. All damages to Sublessor by reason of such holding-over by Sublessee may be the subject of a separate action and need not be asserted by Sublessor in any summary proceeding against Sublessee. Sublessee further agrees to indemnify Sublessor against and save Landlord harmless from any and against all claims, losses, liabilities, damages, liabilities, costs and expenses (including, without limitation, including reasonable attorneys' fees and disbursementsfees) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage Sublessor incurs to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedingsdispossess Sublessee, or otherwise, and no acceptance by Landlord of payments resulting from Tenant after Sublessee's failure to vacate the Subleased Premises on the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of Date. Sublessee's obligations under this Section 24.21. The provisions of this Section 24.21 Paragraph 17 shall survive the Expiration Datetermination of this Sublease.
Appears in 1 contract
Samples: Lease (Turbochef Inc)
End of Term. 23.1. Upon the expiration or other termination of the term of this Lease, or upon any re-entry by Landlord upon the demised premises, Tenant shall quit and surrender to Landlord the Premises, vacantdemised premises, broom clean, in good order and conditioncondition and repair, ordinary wear and tear and damage for which Tenant is not responsible under by fire, the terms of this Lease elements or other casualty and condemnation excepted, and otherwise in compliance with Tenant shall remove all of its property as herein provided. Tenant’s obligation to observe or perform this covenant shall survive the provisions of Article 7 hereof Tenant acknowledges that possession expiration or other termination of the Premises must term of this Lease.
23.2. No act or thing done by Landlord or its agents shall be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely deemed an acceptance of a surrender possession of the Premises as aforesaid will demised premises, and no agreement to accept such surrender shall be extremely substantialvalid unless in writing and signed by Landlord.
(a) In the event this Lease is not renewed or extended or a new lease is not entered into between the parties, will exceed and if Tenant shall then hold over after the amount expiration or early termination of the monthly installments term of the Base Rent and Escalation Rent theretofore payable hereunderthis Lease, and will be impossible if Landlord shall then not proceed to measure accurately. remove Tenant therefore agrees from the demised premises in the manner permitted by law (or shall not have given written notice to Tenant that if possession Tenant must vacate the demised premises) irrespective of the Premises is whether or not surrendered to Landlord on or before the date that is thirty (30) days following accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the demised premises after the expiration of the term shall be under a month-to-month tenancy commencing on the first day after the expiration or early termination of the term, which tenancy shall be upon all of the terms set forth in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, this Lease except Tenant shall pay on the first day of each month of the holdover period as fixed annual rent, an amount equal to two times one-twelfth of the fixed annual rent and additional rent payable by Tenant during the twelve (12) months preceding the expiration of the term of this Lease (annualized in the case of an early termination occurring less than 12 months after the Commencement Date and, in any event, without giving effect to any abatement or offset against such rents). It is further stipulated and agreed that if Landlord on account shall, at any time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from the demised premises as a holdover, the fixed annual rent for the use and occupancy of the Premises for each month demised premises during any holdover period shall be calculated in the same manner as set forth above. In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages arising from such holdover as provided in Section 23.3(c) hereof.
(b) Notwithstanding anything to the contrary contained in this Lease, the acceptance of any rent paid by Tenant pursuant to Section 23.3(a) hereof shall not preclude Landlord from commencing and prorated for each prosecuting a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 223-c of the Real Property Law of the State of New York.
(c) If Tenant shall hold-over or remain in possession of any portion of any month during which Tenant holds over in the Premises demised premises beyond sixty (60) days after the Expiration Date, a sum equal Tenant shall be subject not only to one hundred twenty five summary proceeding and all damages related thereto, but also to any damages arising out of any lost opportunities (125%and/or new leases) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for to re-let the next ninety demised premises (90) days, and thereafter Tenant shall pay or any part thereof). All damages to Landlord on account by reason of use such holding over by Tenant may be the subject of a separate action and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined need not be asserted by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit Landlord in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateproceedings against Tenant.
Appears in 1 contract
End of Term. Upon Section 20.1 On the expiration Expiration Date or other sooner termination of this Lease, Tenant shall quit and surrender the Premises to Landlord the PremisesLandlord, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant’s Property and the Non-Standard Alterations from the Premises, and this obligation shall survive the Expiration Date or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any Tenant Party remaining in possession of the Premises must be surrendered to Landlord on after the Expiration DateDate or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant agrees therefore covenants that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the Expiration Date or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a holdover tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder under this Lease or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided hereinunder applicable Laws, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Dateover, a sum an amount equal to one hundred twenty five (125%) of the greater of to: (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty percent (150%) of the greater total monthly amount of Fixed Rent and Additional Rent payable hereunder immediately prior to the Expiration Date or earlier termination (ithe “Existing Rent”) for the aggregate first thirty (30) days during which Tenant remains in possession of that all or any portion of the Base RentPremises, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) two hundred percent (200%) of the fair market value as reasonably determined by LandlordExisting Rent thereafter. Nothing herein contained The provisions of this Section 20.2 shall not in any way be deemed to (A) permit Tenant to retain remain in possession of the Premises without written consent after the Expiration Date or sooner termination of this Lease, or (B) imply any right of Tenant to limit in any manner Landlord's right to regain possession of use or occupy the Premises through summary proceedings, upon expiration or otherwisetermination of this Lease and the Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant’s obligations under this Section 24.21 Article 20 shall survive the Expiration DateDate or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Doubleclick Inc)
End of Term. Upon the expiration or other termination of this Leasethe Term, Tenant ------------ shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant may remove all of its property pursuant to Article 3 hereof. Tenant's obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday this Lease shall expire on the business day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to Landlord on enforce the Expiration Dateforegoing provisions of this Article 21. Tenant agrees to indemnify and save Landlord harmless from and against all claimsIn addition, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty within twenty-four (3024) days following hours after the Expiration DateDate or sooner termination of the Term, in addition to any other rights or remedies remedy Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal to one hundred twenty five two (125%2) of the greater of (i) times the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were was payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordTerm. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwise, this Lease and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The Article 21, which provisions of this Section 24.21 shall survive the Expiration DateDate or sooner termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Global Broadcasting Systems Inc/Fa)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of its property and any Specialty Alteration designated by Landlord pursuant to Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date8 hereof. Tenant agrees to if Tenant holds over in the Premises beyond the date which is sixty (60) days following the expiration or sooner termination of this Lease, it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delaydelay and including any consequential damages and/or lost opportunities. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible of accurate measurement. In addition to measure accurately. the indemnification set forth above, Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty of the expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages (30) days following the Expiration Date, in addition to any other rights or remedies Landlord damages Tenant may have be liable for hereunder or at lawpursuant to the second (2nd) sentence of this Section 12.01), and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to (x) for the first 60 days of such holdover, one hundred twenty five and one-half (125%11/2) of times the greater of (i) the aggregate of that portion of the Base Rent, Escalation average Fixed Annual Rent and other items of Rental Additional Rent which were was payable per month under this Lease during the last month six months of the Term thereof, and (iiy) commencing on the fair market value as reasonably determined by Landlord for 61st day of such holdover and thereafter, two (2) times the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each average Rent which was payable per month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month six months of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21thereof. The provisions of this Section 24.21 aforesaid obligations shall survive the Expiration Dateexpiration or sooner termination of the Term of this Lease. At any time during the Term of this Lease and upon reasonable prior notice to Tenant, Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease and upon reasonable prior notice to Tenant, Landlord may exhibit the Premises to prospective tenants.
Appears in 1 contract
End of Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear tear, damage by fire or other casualty and other damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20 with respect to the originally stated Expiration Date. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' ’ fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Fixed Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's ’s right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's ’s failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five two (125%2) of the greater of (i) times the aggregate of that portion of the Base Fixed Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordTerm. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's ’s right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of this Section 24.21 Article 20 shall survive the Expiration Date.
Appears in 1 contract
End of Term. Section 22.1. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with pursuant to the provisions of Article 7 hereof 13 excepted, and Tenant acknowledges shall remove all of Tenant’s Alterations as may be required pursuant to Article 6. Tenant shall also remove all of Tenant’s Property and all other personal property and personal effects of all persons claiming through or under Tenant, and shall pay the cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant’s Property or other personal property that possession remains in the Premises after the termination of this Lease shall be deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of in such manner as Landlord may see fit. If such Tenant’s Property or other personal property or any part thereof is sold, Landlord may receive and retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in removing or disposing of such Tenant’s Property or other personal property or Alterations required to be removed as provided in Article 6, as well as the cost of repairing all damage to the Building or the Premises caused by such removal, shall be reimbursed to Landlord by Tenant, as Additional Rent, on demand.
Section 22.2. If the Expiration Date falls on a day which is not a Business Day, then Tenant’s obligations under Section 22.1 shall be performed on or prior to the immediately preceding Business Day.
Section 22.3. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights that Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of like import then in force in connection with any holdover proceedings that Landlord may institute to enforce the provisions of this Article.
Section 22.4. If the Premises must be are not surrendered to upon the expiration or other termination of this Lease, Tenant hereby indemnifies Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, including any claims made by any succeeding tenant or prospective tenant founded on upon such delay. The parties recognize delay and agree that the damage agrees to be liable to Landlord resulting from for (i) any failure payment or rent concession which Landlord may be required to make to any tenant obtained by Tenant to timely surrender possession Landlord for all or any part of the Premises as aforesaid will be extremely substantial, will exceed the amount in order to induce such tenant not to terminate its lease by reason of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. holding-over by Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy loss of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) benefit of the greater of (i) the aggregate of that portion bargain if any such tenant shall terminate its lease by reason of the Base Rent, Escalation Rent and other items of Rental which were payable holding-over by Tenant.
Section 22.5. Tenant’s obligation under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 Article shall survive the Expiration Dateexpiration or termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Ampex Corp /De/)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Dateits property. Tenant agrees to it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any the first and second month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to one hundred twenty five and one-half (125%1 ½) times the average Rent which was payable per month under this Lease during the last six months of the greater of (i) Term thereof and for the aggregate of that portion third and subsequent months during which Tenant holds over in the Premises after expiration or termination of the Base RentTerm of this Lease, Escalation a sum equal to two (2) times the Rent and other items of Rental which were was payable per month under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter thereof. Tenant shall also pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over all Additional Rent as incurred in the Premises after normal course of operations under the Expiration Date, a sum equal to one hundred fifty (150%) of Lease. The aforesaid obligations shall survive the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or sooner termination of the Term and of this Lease. At any time during the Term of this Lease, Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein upon reasonable advance notice to Tenant (ii) which may be given in person or by telephone). During the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession last year of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession term of this Lease, Landlord may exhibit the Premises through summary proceedings, to prospective tenants upon reasonable advance notice to Tenant (which may be given in person or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datetelephone).
Appears in 1 contract
End of Term. Upon On the expiration Expiration Date, or other upon any earlier termination of this LeaseSublease, Tenant Sublessee shall quit and surrender the Subleased Premises to Landlord Sublessor broom-clean and in as good order, condition and repair as the Premises, vacant, broom clean, in good order and condition, Subleased Premises existed upon the Commencement Date except for ordinary wear and tear tear, any restoration of the Subleased Premises not required pursuant hereto, damage or destruction by fire and other casualty and such other damage for the repair of which Tenant is not responsible under the terms of this Lease exceptedSublessee's obligation hereunder (provided no such damage shall be due to Sublessee's negligence or misconduct), and otherwise in compliance accordance with the applicable provisions of Article 7 hereof Tenant acknowledges the Lease. Sublessee recognizes that possession of Sublessor may suffer substantial damage if Sublessee fails to surrender and vacate the Subleased Premises must be surrendered to Landlord on the Expiration Date. Tenant Sublessee, therefore, agrees that if Sublessee shall hold-over or remain in possession beyond the Expiration Date of this Sublease, Sublessee shall in addition to the provisions of Xxxxxxxxx 00 xxxxx, xx liable for all compensatory damages directly related thereto and arising therefrom, including any damages arising out of any lost opportunities ( and/or new leases) in connection with such holding over. All damages to Sublessor by reason of such holding-over by Sublessee may be the subject of a separate action and need not be asserted by Sublessor in any summary proceeding against Sublessee. Sublessee further agrees to indemnify Sublessor against and save Landlord harmless from any and against all claims, losses, liabilities, damages, liabilities, costs and expenses (including, without limitation, including reasonable attorneys' fees and disbursementsfees) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage Sublessor incurs to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedingsdispossess Sublessee, or otherwise, and no acceptance by Landlord of payments resulting from Tenant after Sublessee's failure to vacate the Subleased Premises on the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of Date. Sublessee's obligations under this Section 24.21. The provisions of this Section 24.21 Paragraph 17 shall survive the Expiration Datetermination of this Sublease.
Appears in 1 contract
End of Term. 34. Upon the expiration or other termination of the term of this Lease, Tenant shall quit and surrender to Landlord the Premises, demised premises vacant, broom “broom-clean”, in good order and condition, ordinary wear and tear and damage for damages which Tenant is not responsible under the terms of required to repair as provided elsewhere in this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered shall deliver to Landlord on all keys required for access to the Expiration Date. Tenant agrees to indemnify demised premises and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses the Building (including, without limitation, attorneys' fees all keys provided to Tenant for access to the entrance, elevator, bathrooms and disbursementsother Building common areas), disable and remove all security systems covering the demised premises and remove all of its property from the demised premises as required and as permitted by this Lease. Tenant shall assign to Landlord all warranties that are in effect at the end of the term of this Lease for all alterations, property and equipment which remain in the demised premises, with Landlord’s consent, after Tenant has surrendered possession thereof to Landlord. Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of this Lease. Tenant acknowledges that it must surrender possession of the demised premises to Landlord at the expiration or sooner termination of the term of this Lease; time being of the essence with respect to Tenant’s obligation to do so. If, however, Tenant remains in possession of the demised premises at the expiration or earlier termination of the term hereof, Tenant, at Landlord’s option, shall be deemed to be occupying the demised premises as a tenant from month to month, at a monthly rental equal to twice the sum of (a) resulting the monthly installment of the annual base rent payable during the last month of the term (the “Holdover Rent”) hereof plus (b) all additional rent due hereunder. Acceptance by Landlord of rent after the expiration or earlier termination of the Term hereof shall not constitute a consent to a month-to-month tenancy or result in a renewal. In the event of such holdover, Tenant’s occupancy of the demised premises, except as aforesaid, shall be subject to all other conditions, provisions and obligations of this Lease, but only insofar as the same are applicable to a month to month tenancy. Such month to month tenancy shall be terminable by Landlord upon one (1) month’s notice to Tenant, and if Landlord shall give such notice, Tenant shall quit and surrender the demised premises to Landlord as provided in this article. In the event that (a) Tenant shall remain in possession of the demised premises at the expiration or earlier termination of the Term hereof and Landlord shall not have elected to deem Tenant to be occupying the demised premises as a tenant from delay month-to-month or (b) Landlord shall terminate any month-to-month tenancy of the demised premises and Tenant shall fail to quit and surrender the demised premises to Landlord upon the termination date as provided in this article, then, in either such event, Tenant shall be liable to Landlord tor all losses, damages, claims, costs and/or expenses incurred by Tenant in so surrendering Landlord by reason of Tenant’s failure to deliver timely possession of the Premises, demised premises to Landlord including, without limitation, any claims made consequential and incidental damages so incurred by any succeeding tenant founded on such delay. The parties recognize Landlord, including without limitation, all legal fees and agree that court costs incurred by Landlord and/or expenses incurred in connection with or arising from the damage inability of Landlord to Landlord resulting from any failure by Tenant to timely surrender lease and deliver possession of the Premises as aforesaid will be extremely substantialdemised premises, will exceed or any portion thereof, to any third party and/or the amount termination or cancellation of any lease of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunderdemised premises, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition any portion thereof to any other rights or remedies third party; provided that Landlord may have hereunder or at law, shall use reasonable efforts to mitigate any such consequential damages; it being understood that Landlord shall use its in-house broker and without in any manner limiting Landlord's right shall not be required to demonstrate retain the services of an outside third party broker and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall not be deemed to permit Tenant have failed to use reasonable efforts to mitigate damages if Landlord shall not retain possession the services of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datean outside third party broker.
Appears in 1 contract
Samples: Office/Loft Lease (Etsy Inc)
End of Term. Section 21.1 All Tenant’s Property shall remain the property of Tenant and may be removed by Tenant at any time during the Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, broom-clean and in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and Tenant shall remove all of Tenant’s Property and the Non-Standard Alterations (except as otherwise expressly set forth in compliance with this Lease) from the Premises to the extent required under Section 4.4. Tenant shall repair any damage to the Premises occasioned by the removal by Tenant or any person claiming under Tenant of any of Tenant’s Property and all Non-Standard Alterations from the Premises. Tenant’s obligations pursuant to this Article 21 shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day next preceding such day. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to Landlord on enforce the Expiration Date. foregoing provisions of this Article 21.
(a) Tenant agrees that if for any reason Tenant or any Tenant Party shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a month-to-month tenancy, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall at all times comply with all other terms and conditions of this Lease and pay to Landlord on account of use and occupancy of an amount (the Premises for each month and prorated for each portion “Holdover Amount”) equal to (A) during the first three (3) months of any month during which Tenant holds over in the Premises after the Expiration Datesuch holding over, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty percent (150%) of the greater of (ix) the aggregate total monthly amount of that portion Fixed Rent and regularly recurring Additional Rent payable hereunder prior to such termination and (y) the then current market rent for the Premises and (B) thereafter, two hundred percent (200%) of the Base Rent, Escalation greater of (x) the total monthly amount of Fixed Rent and other items of Rental which were regularly recurring Additional Rent payable under this Lease during the last month of the Term hereunder prior to such termination and (iiy) the fair then current market value as reasonably determined by Landlordrent for the Premises. Nothing herein contained The provisions of this Section 21.2 shall not in any way be deemed to (i) permit Tenant to retain remain in possession of the Premises without written consent after the Expiration Date or sooner termination of this Lease, or (ii) imply any right of Tenant to limit in any manner Landlord's right to regain possession of use or occupy the Premises through summary proceedings, upon expiration or otherwisetermination of this Lease and the Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 21. Landlord waives no rights against Tenant by reason of accepting any holding over by Tenant, including, without limitation, the right to terminate such month-to-month tenancy as provided by law at any time after the expiration of the Term and any right to damages in the event that Tenant’s holding over causes Landlord to suffer any loss. From and after such time, actual damages may be recovered in addition to the Holdover Amount, including any damages accruing from and after the Expiration Date, relating to any loss, cost or damage, whether first incurred prior to the expiration of such period or thereafter. The provisions of this Section 24.21 21.2 shall not in any way be deemed to (i) permit Tenant to remain in possession of the Premises after the Expiration Date or sooner termination of this Lease, or (ii) imply any right of Tenant to use or occupy the Premises upon expiration or termination of this Lease and the Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 21. Tenant’s obligations under this Article 21 shall survive the Expiration Dateexpiration or earlier termination of this Lease.
(b) Notwithstanding anything herein to the contrary, but subject to the immediately following sentence, Tenant agrees it shall indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay by Tenant in surrendering the Premises upon expiration or sooner termination of the Term, including, without limitation, any claims made by any succeeding tenant founded on such delay or any lost profits, losses, costs, expenses or liability payable to such tenant as a result thereof. Notwithstanding the foregoing or anything to the contrary contained herein, provided that Tenant does not hold over in the Premises for more than one hundred eighty (180) days, Landlord hereby waives the right to proceed against Tenant for any claims made by any succeeding tenant, any lost profits and any other consequential damages relating to or arising from any such holdover by Tenant; it being the intent that if Tenant holds over for more than one hundred eighty (180) days, Tenant shall be liable for any claims made by any succeeding tenant, any lost profits and any other consequential damages from the commencement of such holdover.
Appears in 1 contract
End of Term. Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant shall remove all of Tenant’s Property from the Premises, and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
Section 20.2 Tenant acknowledges that Tenant or any subtenant of Tenant remaining in possession of the Premises must be surrendered after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant, therefore, covenants that if for any reason Tenant or any subtenant of Tenant shall fail to Landlord on the Expiration Date. Tenant agrees to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a “month-to-month” tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over over, an amount equal to two (2) times the total monthly amount of Fixed Rent and Additional Rent payable hereunder. The provisions of this Section 20.2 shall not in any way be deemed to (a) permit Tenant to remain in possession of the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month or (b) imply any right of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of or occupy the Premises for each month and prorated for each portion upon expiration or termination of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during and the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant’s obligations under this Section 24.21 Article shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 1 contract
End of Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 7 hereof 3 hereof. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Fixed Rent and Escalation Rent Rental theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty within twenty-four (3024) days following hours after the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) one hundred seventy-five percent (175%) of the aggregate of that portion of the Base Fixed Rent, Escalation Rent and other items of Rental which were was payable under this Lease during the last month of the Term Term, and (ii) the then fair market rental value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by LandlordPremises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of this Section 24.21 Article 20 shall survive the Expiration Date.
Appears in 1 contract
Samples: Lease Agreement (General Media Inc)
End of Term. SECTION 20.1 Upon the expiration Expiration Date or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise Tenant shall remove all of Tenant's Property in compliance accordance with the provisions of Section 3.3, and this obligation shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 7 hereof 20.
SECTION 20.2 Tenant acknowledges that Tenant or any subtenant of Tenant remaining in possession of the Premises must be surrendered after the expiration or earlier termination of this Lease would create an unusual hardship for Landlord and for any prospective tenant. Tenant, therefore, covenants that if for any reason Tenant or any subtenant of Tenant shall fail to Landlord on the Expiration Date. Tenant agrees to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant's continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a "month-to-month" tenant, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Dateover, a sum an amount equal to to: (a) one hundred twenty twenty-five percent (125%) of the greater total monthly amount of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Rent and other items of Rental which were Additional Rent payable under this Lease during hereunder immediately prior to such termination (the last month of the Term and (ii"Existing Rent") the fair market value as reasonably determined by Landlord for the next ninety first thirty (9030) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month days during which Tenant holds over in the Premises after the Expiration Dateover, a sum equal to (b) one hundred fifty percent (150%) of the greater of Existing Rent for the next thirty (i30) the aggregate of that portion days during which Tenant holds over, and (c) two hundred percent (200%) of the Base Rent, Escalation Existing Rent and other items thereafter. The provisions of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained Section 20.2 shall not in any way be deemed to (a) permit Tenant to retain remain in possession of the Premises without written consent after -49- 50 the Expiration Date or sooner termination of this Lease or (b) imply any right of Tenant to limit in any manner Landlord's right to regain possession of use or occupy the Premises through summary proceedings, upon expiration or otherwisetermination of this Lease and the Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article 20. The provisions of Tenant's obligations under this Section 24.21 Article shall survive the Expiration Dateexpiration or earlier termination of this Lease.
Appears in 1 contract
End of Term. ABANDONED PROPERTY Upon the expiration or other termination of the Term of this Lease, Tenant shall peaceably quit and surrender to Landlord the Premises, vacant, broom clean, in good order Demised Premises and condition, ordinary wear all alterations and tear and damage for additions thereto which Tenant is not responsible entitled or required to remove under the terms provisions of this Lease, broom clean in good order, repair and condition excepting only reasonable use and wear and damage by fire or other casualty for which, under other provisions of this Lease, Tenant has no responsibility of repair or restoration. Tenant’s obligation to observe or perform this covenant shall survive the expiration or other termination of the Term of this Lease. If the last day of the Term of this Lease exceptedor any renewal thereof falls on a day other than a Business Day, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord this Lease shall expire on the Expiration DateBusiness Day immediately preceding. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed shall pay twice the amount of the monthly installments Rent applicable to each month (or fraction thereof) during which Tenant remains in possession of any part of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession Demised Premises in violation of the Premises is not surrendered foregoing covenants, without prejudice to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to eviction and any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay remedy available to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during thereof. Any personal property in which Tenant holds over has an interest which shall remain in the Building or on the Demised Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or termination of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) daysof this Lease shall be conclusively deemed to have been abandoned, and thereafter may be disposed of in such manner as Landlord may see fit; provided, however, notwithstanding the foregoing, that Tenant shall pay to will, upon request of Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises made not later than ten (10) days after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or termination of the Term and (ii) hereof, promptly remove from the fair market value as reasonably determined by Landlord. Nothing herein contained Building any such personal property or, if any part thereof shall be deemed to permit sold, that Landlord may receive and retain 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 payable hereunder by Tenant to retain possession of Landlord and any damages to which Landlord may be entitled under Article 19 hereof or pursuant to law, with the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedingsbalance if any, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateto Tenant.
Appears in 1 contract
Samples: Sublease (Fluidigm Corp)
End of Term. Upon Section 24.1 On the expiration or Expiration Date (a) Tenant (and all other termination of this Lease, Tenant occupants) shall quit vacate and surrender to Landlord the Premises, leaving the Premises vacant, broom clean, clean and in good order and condition, except for ordinary wear and tear and damage for which Tenant is not responsible under this lease, and otherwise as may be required by this lease, and (b) Tenant shall remove all of Tenant’s Property and any Tenant’s Work required to be removed pursuant to this lease. If the last day of the Term is not a business day, this lease shall expire on the immediately preceding business day. Tenant waives, for itself and for any person claiming under Tenant, any right which Tenant or any such person may have under Section 2201 of the New York Civil Practice Law and Rules or under any similar Laws.
Section 24.2 If the Premises are not vacated and surrendered in accordance with this lease (whether by Tenant or any occupant related to Tenant), on the date required by this lease, Tenant shall indemnify and hold harmless Landlord against all losses, costs, liabilities, claims, damages and expenses incurred by Landlord in connection therewith, including reasonable attorneys’ fees and disbursements whether in an action by or against Tenant or a third party, and including claims and liabilities of Landlord made by any succeeding tenant(s) or other third party. In addition, Tenant shall be liable to Landlord for per diem use and occupancy in respect of the Premises at a rate equal to twice the Rent payable under this lease for the last year of the Term (which Landlord and Tenant agree is the Rent that is contemplated by them as being fair and reasonable under such circumstances and is not a penalty). In no event, however, shall
Section 24.3 If during the last ninety (90) days of the Term, Tenant removes substantially all of Tenant’s Property from the Premises, Landlord or any person designated by Landlord may immediately enter and alter the Premises, without releasing Tenant from any obligation or liability under this lease, including the payment of Rent, or incurring any liability or obligation to Tenant.
Section 24.4 Unless otherwise specifically provided: (a) any obligation of Landlord or Tenant under this lease which by its nature or under the circumstances can only be, or by the terms of this Lease exceptedlease may be, and otherwise in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on performed after the Expiration Date. Tenant agrees ; (b) any liability for a payment with respect to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord period ending on or before the date that is thirty (30) days following the Expiration Date; and, (c) all indemnity and hold harmless provisions in addition to any other rights or remedies Landlord may have hereunder or at lawthis lease, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.
Appears in 1 contract
Samples: Retail Lease
End of Term. Upon the expiration or other termination of this Lease, (A) Tenant shall quit vacate the Demised Premises upon the Expiration Date broom clean and surrender to Landlord the Premises, vacant, broom clean, in good order and conditionin the same condition that the Demised Premises existed on the Commencement Date, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease by casualty excepted, and otherwise Tenant shall, on or prior to the Expiration Date, remove all of Tenant’s personal property and all other property and effects of Tenant and all persons claiming through or under Tenant from the Demised Premises and the Building and Tenant shall repair all damage to the Demised Premises and the Building occasioned by such removal. Landlord shall have the right to retain any property and effects of Tenant or such person which shall remain in compliance the Demised Premises after the Expiration Date and any net proceeds from the sale thereof, without waiving any of Landlord’s rights with respect to any “Event of Default” (as hereinafter defined) by Tenant. If the provisions date upon which the Demised Term shall expire, terminate or end shall fall on a Sunday or holiday, then Tenant’s obligations under the first sentence of this Article 7 hereof EIGHTH shall be performed on or prior to the Saturday or business day immediately succeeding such Sunday or holiday. Tenant’s obligations under this Article EIGHTH shall survive the Expiration Date.
(B) Should Tenant acknowledges that (or anyone claiming through or under Tenant) remain in possession of the Demised Premises must be surrendered to Landlord on after the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession Date or sooner termination of the Premises as aforesaid will Term, then, Tenant shall be extremely substantialdeemed a tenant at sufferance, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateand, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's ’s right to demonstrate and collect any damages suffered by Landlord and arising from the failure of Tenant (or anyone claiming through or under Tenant's failure ) to surrender the Demised Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises as liquidated damages for each month and prorated for each or portion of any a month during which Tenant holds over in the Demised Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal to one hundred twenty five two (125%2) of the greater of (i) times the aggregate of that portion of the Base Rent, Escalation Fixed Annual Rent and other items of Rental Additional Rent which were was payable under this Lease during the last month of the Term (which amount Landlord and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over presently agree in the Premises after the Expiration Date, minimum to which Landlord would be entitled and is presently contemplated by them as being fair and reasonable under such circumstances and not a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlordpenalty). Nothing herein contained shall be deemed to permit Tenant (or anyone claiming through or under Tenant) to retain possession of the Demised Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwiseTerm, and no acceptance payment made by Landlord of payments from Tenant after the Expiration Date in connection with such period shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21Article. The provisions of this Section 24.21 Article EIGHTH shall survive the Expiration DateDate or sooner termination of this Lease. The preceding shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York.
(C) Tenant expressly waives for itself and for other persons claiming through or under Tenant any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of same import then in force, in connection with any holdover proceedings, which Landlord may institute to enforce the provisions of this Article.
Appears in 1 contract
Samples: Lease (Passport Brands, Inc)
End of Term. Section 23.1 Upon the expiration or other earlier termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Premises broom-clean and in good order and condition, ordinary wear and tear excepted. Tenant shall remove all of its property and shall repair all damage for which to the Premises or the Building occasioned by such removal. Any prope1ty not removed from the Premises shall be deemed abandoned by Tenant is not responsible under and may be disposed of in any manner deemed appropriate by Landlord, the cost of the removal and repairs occasioned by such removal to be at Tenant’s expense. Tenant’s obligations to observe or perform the terms of this Lease exceptedParagraph shall survive the expiration or earlier termination of this Lease. Tenant expressly waives, for itself and otherwise in compliance with for any person claiming through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and any similar successor law of the same import then in force, in connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Article 7 hereof XXIII.
Section 23.2 If Tenant acknowledges that remains in possession of the Premises must after expiration of the Term, or after any permitted termination of the Lease by Landlord, with Landlord’s acquiescence and without any written agreement between the parties, Tenant shall be surrendered a tenant at sufferance and such tenancy shall be subject to Landlord on all the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claimsprovisions hereof, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree except that the damage monthly Base Rent for said holdover period shall be one hundred fifty percent (150%) the amount of Base Rent due in the last full month of the Term, and Tenant shall pay I/12th of the previous year’s charges for all Additional Rent for each hold-over month. There shall be no renewal of this Lease by operation of law. Nothing in this Section shall be construed as a consent by Landlord to Landlord resulting from any failure by Tenant to timely surrender the possession of the Premises as aforesaid will be extremely substantial, will exceed by Tenant after the amount expiration or earlier termination of the monthly installments Term. In the event of the Base Rent any unauthorized holder-over, Tenant shall indemnify and Escalation Rent theretofore payable hereunder, and will be impossible hold harmless Landlord against all claims for damages by any other tenant to measure accurately. Tenant therefore agrees that if possession whom Landlord may have leased all or any part of the Premises is effective upon the termination of this Lease. Anything in this Article to the contrary notwithstanding, the acceptance of any rent paid by Tenant pursuant to this Article XXIII shall not surrendered to preclude Landlord on from commencing and prosecuting a holdover or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at lawsummary eviction proceeding, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date preceding sentence shall be deemed to be other than on account an “agreement expressly providing otherwise” within the meaning of Section 232-C of the amount Real Prope1ty Law of the State of New York and any successor law of like import.
Section 23.3 On or before the first day of the thirtieth month following the Commencement Date, either xxxxx hereto may, at any time, provide notice. of its intent to terminate this Lease early for any reason including for its convenience. Tenant’s ability to provide such notice is subject to it being in compliance with all of its obligations hereunder, and there being no then-current uncured default under Article XVI hereof. Such notice shall be paid by in writing and may or may not specify a reason for the early termination. If notice is given, the early termination date shall be the first day of the thirty sixth month following the Commencement Date (the “Early Termination Date”). If Tenant chooses, in accordance with its discretion to specify a reason for its early termination, Landlord shall have thirty days in which to remedy or propose a remedy and to propose a schedule of implementation of the provisions remedy which may or may not be accepted in the sole discretion of Tenant. In the event that Tenant elects to terminate this Section 24.21. The provisions of this Section 24.21 Lease early for reason unrelated to Landlord’s default hereunder, Tenant shall survive be responsible for the Expiration Dateunamortized costs Landlord’s Work and leasing commissions.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Brooklyn ImmunoTherapeutics, Inc.)
End of Term. Upon Section 29.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease in the same condition the Premises were in on the date hereof, except for (i) Tenant Improvements not required by Landlord to be removed by Tenant, provided, however, Tenant shall not be required to remove any Tenant Improvements unless such Tenant Improvements are special or unique to Tenant’s use of the Premises (“Tenant Specialty Items”); (ii) reasonable wear and tear, and (iii) damage by casualty. Tenant shall surrender all keys for the Premises to Landlord at the expiration or sooner termination of this Lease. In addition, Tenant shall, if requested by Landlord, remove specifically designated computer, telephone and data cabling servicing the Premises. If Tenant shall hold over after the Expiration Date or other termination of this Lease, Tenant such holding over shall quit and surrender not be deemed to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms be a renewal of this Lease excepted, but shall be deemed to create a month to month tenancy only and otherwise in compliance with the provisions of Article 7 hereof by such holding over Tenant acknowledges that possession shall continue to be bound by all of the Premises must be surrendered terms and conditions of this Lease, except that during such month to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, month tenancy Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to (A) one hundred twenty twenty-five percent (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, first month of holdover and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty percent (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term for the second (2nd) month of the holdover and each subsequent month of holdover; and (iiB) any and all Operating Expenses and other forms of Additional Rent payable under this Lease. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the fair market value last day of any calendar month by delivery to the other of notice of such termination prior to the first day of such calendar month (and Tenant shall have no right to hold over after the Lease is so terminated).
Section 29.02 The term “Landlord’s Property” shall mean all fixtures, including those items that may be denominated or characterized as reasonably determined Tenant’s business or trade fixtures, equipment, improvements, appurtenances, and carpeting, attached to or built into the Premises at the Commencement Date, whether or not by Landlordor at the expense of Tenant. Nothing herein contained Alterations made during the Term, and which Landlord has so designated pursuant to Section 10.01, shall be deemed to permit Tenant to retain possession Landlord’s Property. All Landlord’s Property shall be and remain a part of the Premises at the expiration or sooner termination of the Term (without compensation to Tenant) and shall not be removed or replaced by Tenant without the prior written consent after of Landlord except for Tenant Specialty Items; and except for items which Landlord has required be removed as a condition to the Expiration Date or to limit in any manner Landlord's right to regain possession approval of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateplans for any Alternations.
Appears in 1 contract
Samples: Lease Agreement (Microphase Corp)
End of Term. Upon On the expiration or other termination date upon which the Demised Term shall expire and come to an end, whether pursuant to any of the provisions of this LeaseLease or by operation of law, Tenant and whether on or prior to the Expiration Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the Demised Premises to Landlord the Premises, vacantOwner, broom cleanclean and with respect to any portions of the Demised Premises which are not going to be demolished by Owner in connection with a subsequent letting (including, without limitation, any portions of the Building services located within the Demised Premises) in good order and condition, ordinary wear and tear excepted and damage damages by fire, the elements or other casualty for which Tenant is not responsible under the terms provisions of this Lease excepted, and otherwise (ii) shall remove all of Tenant's Personal Property that Tenant elects to remove and all other property and effects of Tenant and all persons claiming through or under Tenant from the Demised Premises and the Building, and (iii) shall repair all damage to a the Demised Premises occasioned by such removal. Owner shall have the right to retain any property and effects which shall remain in compliance the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the sale thereof, without waiving Owner's rights with respect to any default by Tenant under the foregoing provisions of this Section. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify New York Civil Practice Law and save Landlord harmless from Rules and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant of any successor law of like import then in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateforce, in addition connection with any holdover summary proceedings which Owner may institute to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender enforce the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the foregoing provisions of this Section 24.21Article. The provisions of Tenant's obligations under this Section 24.21 shall survive the Expiration Dateexpiration or sooner termination of the Demised Term.
Appears in 1 contract
Samples: Sub Sublease Agreement (Eyetech Pharmaceuticals Inc)
End of Term. Section 22.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and any damage for from casualty or condemnation which Tenant is shall not responsible have been obligated to restore hereunder excepted, and Tenant shall remove those of Tenant’s Alterations to the extent required pursuant to Article 6 or any other provision of this Lease. Tenant shall also remove all of Tenant’s Property and all other personal property and personal effects of all persons claiming through or under Tenant, and shall pay the terms cost of repairing all damage to the Premises and the Real Property occasioned by such removal. Any Tenant’s Property or other personal property that remains in the Premises after the termination of this Lease exceptedshall be deemed to have been abandoned and either may be retained by Landlord as its property or may be disposed of in such manner as Landlord may see fit. If such Tenant’s Property or other personal property or any part thereof is sold, Landlord may receive and otherwise retain the proceeds of such sale as the property of Landlord. Any expense incurred by Landlord in compliance with removing or disposing of such Tenant’s Property or other personal property or Alterations required to be removed as provided in Article 6, as well as the cost of repairing all damage to the Building or the Premises caused by such removal, shall be reimbursed to Landlord by Tenant, as Additional Rent, on demand.
Section 22.2 If the Expiration Date falls on a day which is not a Business Day, then Tenant’s obligations under Section 22.1 shall be performed on or prior to the immediately preceding Business Day.
Section 22.3 Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights that Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of like import then in force in connection with any holdover proceedings that Landlord may institute to enforce the provisions of this Article.
Section 22.4 If the Premises must be are not surrendered to Landlord on within ninety (90) days after the Expiration Date. , Tenant agrees to indemnify and save hereby indemnifies Landlord harmless from and against all claims, losses, liability or expense (including any consequential damages but excluding punitive damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, including any claims made by any succeeding tenant or prospective tenant founded on upon such delay. The parties recognize delay and agree that the damage agrees to be liable to Landlord resulting from for (i) any failure payment or rent concession which Landlord may be required to make to any tenant obtained by Tenant to timely surrender possession Landlord for all or any part of the Premises as aforesaid will be extremely substantial, will exceed the amount in order to induce such tenant not to terminate its lease by reason of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. holding-over by Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy loss of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) benefit of the greater of (i) the aggregate of that portion bargain if any such tenant shall terminate its lease by reason of the Base Rent, Escalation Rent and other items of Rental which were payable holding-over by Tenant. Landlord’s rights under this Lease during Section 22.4 are in addition to the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid holdover rental payable by Tenant in accordance with the provisions of under Section 39.7.
Section 22.5 Tenant’s obligations under this Section 24.21. The provisions of this Section 24.21 Article shall survive the Expiration Dateexpiration or termination of this Lease.
Appears in 1 contract
End of Term. Upon Section 25.1 On the expiration or Expiration Date (a) Tenant (and all other termination of this Lease, Tenant occupants) shall quit vacate and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, and with interior finished including but not limited to carpets and other floor finishes, window coverings, ceilings and paint in substantially the same condition as at the Commencement Date, except for ordinary wear and tear and damage by fire and other casualty for which Tenant is not responsible under the terms of this Lease exceptedLease, and otherwise as may be required by this Lease, including if required by Landlord, removal of Tenant’s Work and Tenant’s Property. Tenant shall be under no obligation to return the Premises to base building standard. For greater certainty, Landlord acknowledges and agrees that Tenant shall not be obligated or responsible, under any circumstance, for the removal or restoration of any installations, alterations, partitions or improvements of any kind whatsoever existing in, on or under the Premises as of the Commencement Date, other than to repair any damage caused by the removal of Tenant’s Work and Tenant’s Property. If the last day of the Term is not a Business Day, this Lease shall expire on the immediately preceding Business Day. Should Tenant fail to yield up space in compliance accordance with its obligations, Landlord may carry out works on behalf of Tenant and recover any costs incurred in doing so. Tenant waives, for itself and for any person claiming under Tenant, any right which Tenant or any such person may have to a stay of proceedings.
Section 25.2 If the provisions of Article 7 hereof Premises are not vacated and surrendered in accordance with this Lease, on the date required by this Lease, Tenant acknowledges that possession shall be liable to Landlord for (a) all losses, costs, liabilities and damages which Landlord incurs by reason thereof, including reasonable attorneys’ fees, and (b) per diem use and occupancy in respect of the Premises must equal to 150% of the then current Rent payable under this Lease (which Landlord and Tenant presently agree is the Rent to which Landlord would be surrendered to Landlord on entitled, is presently contemplated by them as being fair and reasonable under such circumstances and is not a penalty) until Tenant vacates and surrenders the Expiration DatePremises in accordance with this Lease. Tenant agrees to indemnify shall indemnify, defend and save hold harmless Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to tenants against Landlord or otherwise resulting from any the failure by of Tenant (and all other occupants) timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent vacate and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises in accordance with this Lease. In no event, however, shall this Section be construed as provided herein, permitting Tenant shall pay (and all other occupants) to Landlord on account remain in possession of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal . Landlord and Tenant agree that any statutory right to one hundred twenty five (125%) hold over after the expiration of the greater term is expressly waived in accordance with applicable Laws.
Section 25.3 Any obligation of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable Landlord or Tenant under this Lease during which by its nature or under the last month circumstances can only be, or by the terms of this Lease may be, performed after the Term Expiration Date and (ii) the fair market value as reasonably determined by Landlord any liability for the next ninety (90) days, and thereafter Tenant shall pay a payment with respect to Landlord any period ending on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after or before the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rentunless otherwise set forth in this Lease, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Date.
Appears in 1 contract
Samples: Lease Agreement (Ciena Corp)
End of Term. Upon the expiration or other termination of this Leasethe Term, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with Tenant may remove all of its property pursuant to Article 3 hereof. Tenant's obligation to observe or perform this covenant shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday this Lease shall expire on the business day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to Landlord on enforce the Expiration Dateforegoing provisions of this Article 21. Tenant agrees to indemnify and save Landlord harmless from and against all claimsIn addition, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyaccurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on by Tenant or before the date that is thirty any subtenant or other occupant within twenty-four (3024) days following hours after the Expiration DateDate or sooner termination of the Term, in addition to any other rights or remedies remedy Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration DateDate or sooner termination of this Lease, a sum equal to one hundred twenty five (125%) of the greater of (i) two (2) times the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental all additional rent which were was payable under this Lease during the last month of the Term and Term, or (ii) the fair market value then Fair Market Value of the Premises, as reasonably determined by Landlord. Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account may consider items of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over Tenant's Property that remain in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) expiration or earlier termination of the greater of Term to have been abandoned. In that event, Landlord may, at its option either (i) retain such items as its property or dispose of them without accountability in such manner as Landlord shall determine, all at Tenant's expense, or (ii) remove and store such items for Tenant. Tenant shall reimburse Landlord for the aggregate reasonable expenses incurred in connection with such disposal or removal and storage within 20 days after receipt for an invoice therefor. The provisions of that this subsection shall survive the expiration of the ---------- Term. If the Premises are not surrendered upon the expiration or earlier termination of this Lease with respect to all or any portion of the Base RentPremises, Escalation Rent Tenant hereby indemnifies Landlord against loss, cost, injury, damage, claim, expense, or liability (including attorneys' fees and other items of Rental which were payable under this Lease during disbursements) resulting from delay by Tenant in so surrendering the last month of the Term and (ii) the fair market value as reasonably determined same, including any claims made by Landlordany succeeding tenant or prospective tenant founded upon such delay. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedings, or otherwise, this Lease and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The Article 21, which provisions of this Section 24.21 shall survive the Expiration DateDate or sooner termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Salon Internet Inc)
End of Term. Section 21.1 All Tenant’s Property shall remain the property of Tenant and may be removed by Tenant at any time during the Term. Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, broom-clean and in good order and condition, ordinary wear and tear tear, damage caused by fire or other casualty or condemnation and damage for which Tenant is not responsible under the terms of this Lease excepted, and Tenant shall remove all of Tenant’s Property and the Non-Standard Alterations (except as otherwise expressly set forth in compliance with this Lease) from the Premises to the extent required under Section 4.4. Tenant shall repair any damage to the Premises occasioned by the removal by Tenant or any person claiming under Tenant of any of Tenant’s Property and all Non-Standard Alterations from the Premises. Tenant’s obligations pursuant to this Article 21 shall survive the expiration or sooner termination of the Term. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day next preceding such day. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to Landlord on enforce the Expiration Date. foregoing provisions of this Article 21.
(a) Subject to the provisions of Section 21.2(b) hereof, Tenant agrees that if for any reason Tenant or any subtenant of Tenant shall fail to indemnify vacate and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantialor any part thereof on or before the expiration or earlier termination of this Lease and the Term, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if then Tenant’s continued possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateshall be as a month-to-month tenancy, during which time, without prejudice and in addition to any other rights or and remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall (1) pay to Landlord on account an amount (the “Holdover Amount”) per month (or per diem solely to the extent the provisions of use Section 21.2(c) hereof apply) equal to (A) during the first thirty (30) days of any such holding over, one hundred and occupancy fifty percent (150%) of the Premises for each month and prorated for each portion total monthly amount of Fixed Rent payable hereunder prior to such termination, plus Additional Rent payable hereunder, (B) during the next ninety (90) days of any month during which Tenant holds over in such holding over, two hundred percent (200%) of the Premises after the Expiration Datetotal monthly amount of Fixed Rent payable hereunder prior to such termination, a sum equal to one plus Additional Rent payable hereunder and (C) thereafter, two hundred twenty five and fifty percent (125250%) of the greater of (x) the total monthly amount of Fixed Rent and regularly recurring Additional Rent payable hereunder prior to such termination and (y) the then current market rent for the Premises and (2) comply with all other terms and conditions of this Lease. The provisions of this Section 21.2 shall not in any way be deemed to (i) the aggregate permit Tenant to remain in possession of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) Date or sooner termination of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term and or (ii) the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit imply any right of Tenant to retain possession of use or occupy the Premises without written consent after upon expiration or termination of this Lease and the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwiseTerm, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 21. Landlord waives no rights against Tenant by reason of accepting any holding over by Tenant, including without limitation the right to terminate such month-to-month tenancy as provided by law at any time after the expiration of the Term and any right to damages in the event that Tenant’s holding over causes Landlord to suffer any loss. Any determination of “market rent” pursuant to this Section 24.21. The provisions 21.2(a) shall be made taking into consideration (I) the fair market rental value of space of similar size and comparable condition in any First Class Office Buildings (including the Building) available for leasing for a comparable term, by a ready, willing and able tenant from a ready, willing and able landlord, neither of whom is under compulsion to enter into a lease and (II) Tenant’s payment with respect to Pilot and/or Taxes (as applicable) and Operating Expenses as provided in Article 7 of this Section 24.21 Lease (provided that base years for determining Base Tax Amount and Base Operating Expenses shall be updated in connection with determining such market rent). Tenant’s obligations under this Article 21 shall survive the expiration or earlier termination of this Lease.
(b) Notwithstanding anything to the contrary contained in Section 21.2(a) hereof, at any time during the Term (or thereafter while Tenant remains in occupancy of all or any portion of the Premises as a holdover tenant) Tenant may deliver a notice (the “Holdover Take Back Notice”) to Landlord designating one or more full floors of the Premises (the “Holdover Take Back Space”), which floors Tenant shall have fully quit and surrendered in accordance with the requirements set forth in Section 21.1 hereof. At any time after Landlord receives a Holdover Take Back Notice, Landlord may elect (in its sole discretion) on written notice to Tenant to terminate this Lease solely with respect to all or any full floors of such Holdover Take Back Space as of a date (the “Holdover Take Back Space Termination Date”) set forth in Landlord’s notice; provided, however, that Landlord shall be obligated to terminate this Lease with respect to any full floor(s) of such Holdover Take Back Space with respect to which Landlord shall have executed a lease with another tenant who is obligated to accept delivery of such space to be delivered on or prior to the applicable Holdover Take Back Space Termination Date. In the event that Landlord elects to so terminate this Lease with respect to all or any portion of such Holdover Take Back Space, then provided that Tenant shall have fully quit and surrendered such Holdover Take Back Space in accordance with the requirements set forth in
Section 21.1 hereof, (i) this Lease shall be deemed to be terminated with respect to such Holdover Take Back Space as of the Holdover Take Back Space Termination Date and (ii) the provisions of Section 21.2(a) hereof shall no longer apply with respect to such Holdover Take Back Space from and after the Holdover Take Back Space Termination Date.
(c) At any time on or prior to the date that is thirty (30) days prior to the Expiration Date or the expiration of the then applicable Holdover Per Diem Period, Tenant may deliver a written notice (a “Holdover Per Diem Notice”) to Landlord setting forth a date (the “Holdover Per Diem Expiration Date”) on which Tenant reasonably anticipates in good faith that Tenant shall fully quit and surrender all of the Premises in accordance with the terms of Section 21.1 hereof (which date solely for purposes of such Holdover Per Diem Notice shall not be sooner than thirty (30) days after the Expiration Date or the then current Holdover Per Diem Expiration Date, as applicable, nor later than ninety (90) days after the Expiration Date or the then current Holdover Per Diem Expiration Date, as applicable). Notwithstanding anything to the contrary contained in Section 21.2(a) hereof, the Holdover Amount shall be calculated based on the actual number of days in the period (the “Holdover Per Diem Period”) commencing on the day immediately after the Expiration Date or the then current Holdover Per Diem Expiration Date, as the case may be, and expiring on the next succeeding Holdover Per Diem Expiration Date. In the event that Tenant shall not have fully quit and surrendered all of the Premises in accordance with the terms of Section 21.1 hereof within ten (10) Business Days after the then current Holdover Per Diem Expiration Date, then the Holdover Amount shall be calculated on a monthly basis until Tenant shall have once again delivered a Holdover Per Diem Notice (i.e., in the event that Tenant holds over in the Premises on any day during any calendar month from and after the Expiration Date or such Holdover Per Diem Expiration Date, as the case may be, the Holdover Amount shall be payable by Tenant with respect to the entire calendar month, and thereafter with respect to any subsequent entire calendar month during which Tenant holds over in the Premises until Tenant shall have once again delivered a Holdover Per Diem Notice).
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Samples: Lease Agreement (Moodys Corp /De/)
End of Term. Upon the expiration or other termination of the Term of this Leaselease, Tenant shall shall, at its own expense, quit and surrender to Landlord the Demised Premises, vacant, broom clean, in good order and conditionthe same condition as the Demised Premises were in on the Rent Commencement Date ordinary wear, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease by fire or other insured casualty excepted, and otherwise Tenant shall remove all of its property and shall pay the cost to repair all damage to the Demised Premises or the Building occasioned by such removal. Any property not removed from the Premises shall be deemed abandoned by Tenant and may be retained by Landlord, as its property, or disposed of in compliance with any manner deemed appropriate by the Landlord. Any expense incurred by Landlord in removing or disposing of such property shall be reimbursed to Landlord by Tenant on demand. Notwithstanding anything to the contrary contained herein, upon the expiration or other termination of this lease, Tenant may, at Tenant's sole cost and expense, remove the uninterrupted power supply and backup generators installed by Tenant pursuant to Article 2 herein, provided Tenant shall pay the cost to repair all damage to the Demised Premises or the Building occasioned by such removal. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Article 7 hereof Tenant acknowledges that possession Section 2201 of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify New York Civil Practice Law and save Landlord harmless from Rules and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant of any successor law of like import then in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Dateforce, in addition to connection with any other rights holdover or remedies summary proceeding which Landlord may have hereunder or at law, and without in any manner limiting Landlord's right institute to demonstrate and collect any damages suffered by Landlord and arising from enforce the foregoing provisions of this Article. Tenant's failure obligation to surrender observe or perform this covenant shall survive the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and expiration or other items of Rental which were payable under this Lease during the last month termination of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during lease. If the last month day of the Term and (ii) of this lease or any renewal hereof falls on Sunday or a legal holiday, this lease shall expire on the fair market value as reasonably determined by Landlordbusiness day immediately preceding. Nothing herein contained Tenant's obligations under this Article 16 shall be deemed to permit Tenant to retain possession of the Premises without written consent after survive the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions sooner termination of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datelease.
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Samples: Lease Agreement (Asi Solutions Inc)
End of Term. Upon 12.01 Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear and damage for which Tenant is not responsible under the terms of this Lease exceptedby fire or other casualty, and otherwise in compliance with the provisions Tenant shall remove all of Article 7 hereof Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Dateits property. Tenant agrees to it shall indemnify and save Landlord harmless from and against all costs, claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant timely to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Base Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accuratelyof accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before within one (1) day after the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises expiration or sooner termination of the Term of this Lease, then Tenant will pay Landlord as liquidated damages for each month and prorated for each portion of any the first and second month during which Tenant holds over in the Premises after expiration or termination of the Expiration DateTerm of this Lease, a sum equal to one hundred twenty five and one-half (125%1 1⁄2) times the average Rent which was payable per month under this Lease during the last six months of the greater of (i) Term thereof and for the aggregate of that portion third and subsequent months during which Tenant holds over in the Premises after expiration or termination of the Base RentTerm of this Lease, Escalation a sum equal to two (2) times the Rent and other items of Rental which were was payable per month under this Lease during the last month of the Term and (ii) the fair market value as reasonably determined by Landlord for the next ninety (90) days, and thereafter thereof. Tenant shall also pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over all Additional Rent as incurred in the Premises after normal course of operations under the Expiration Date, a sum equal to one hundred fifty (150%) of Lease. The aforesaid obligations shall survive the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month expiration or sooner termination of the Term and of this Lease. At any time during the Term of this Lease, Landlord may exhibit the Premises to prospective purchasers or mortgagees of Landlord’s interest therein upon reasonable advance notice to Tenant (ii) which may be given in person or by telephone). During the fair market value as reasonably determined by Landlord. Nothing herein contained shall be deemed to permit Tenant to retain possession last year of the Premises without written consent after the Expiration Date or to limit in any manner Landlord's right to regain possession term of this Lease, Landlord may exhibit the Premises through summary proceedings, to prospective tenants upon reasonable advance notice to Tenant (which may be given in person or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Datetelephone).
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End of Term. Upon Tenant shall surrender the Premises to Landlord at the expiration or other sooner termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, Lease in good order and condition, ordinary except for reasonable wear and tear tear, casualty, condemnation and damage for which acts of nature. Tenant is not responsible under the terms of this Lease excepted, and otherwise agrees that if Tenant remains in compliance with the provisions of Article 7 hereof Tenant acknowledges that possession of the Premises must after the date of the expiration or sooner termination of this Lease without the consent of Landlord, there shall be surrendered no tacit renewal of this Lease or the Term, Tenant shall be deemed to Landlord on the Expiration Date. be in default, and Tenant agrees shall be deemed to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of be occupying the Premises as aforesaid will a holdover tenant at sufferance. During the holdover, the monthly Fixed Annual Rent, payable in advance on the first day of each month during such holdover, shall be extremely substantial, will exceed the amount equal to (a) 125% of the monthly installments amount of the Base Fixed Annual Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on or before the date that is thirty (30) days following the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and prorated for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred twenty five (125%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term for the first thirty (30) days of the holdover, and (iib) 150% of the fair market value as reasonably determined by Landlord monthly amount of Fixed Annual Rent payable during the last month of the Term for the next ninety (90) daysdays of the holdover, and thereafter Tenant shall pay to Landlord on account of use and occupancy (c) 200% of the Premises for each month and prorated for each portion monthly amount of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to one hundred fifty (150%) of the greater of (i) the aggregate of that portion of the Base Rent, Escalation Fixed Annual Rent and other items of Rental which were payable under this Lease during the last month of the Term for entire remaining period of the holdover, and such holdover shall otherwise upon the same terms as are set forth in this Lease, so far as they are applicable to a tenancy at sufferance; provided, however, that if Tenant provides Landlord with irrevocable written notice no less than nine (ii9) months prior to the fair market value as reasonably determined by Landlordexpiration or sooner termination of this Lease that it intends to hold over in the Premises beyond the expiration or sooner termination of this Lease, then Tenant shall have the right to extend the scheduled expiration date for a period of six (6) months (the “Short-Term Extension”). Nothing herein contained During the Short-Term Extension, the monthly Fixed Annual Rent, payable in advance on the first day of each month during the Short-Term Extension, shall be deemed equal to permit Tenant to retain possession the monthly amount of Fixed Annual Rent payable during the last month of the Term, plus three percent (3%). Any personal property remaining in the Premises without written consent after the Expiration Date expiration or to limit in any manner Landlord's right to regain possession sooner termination of the Premises through summary proceedingsTerm of this Lease shall, or otherwiseafter ten (10) days notice to Tenant and Tenant’s failure to remove same, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account abandoned property at the option of the amount to be paid by Tenant in accordance with the provisions Landlord. The aforesaid provision of this Section 24.21. The provisions of this Section 24.21 shall survive the Expiration Dateexpiration or sooner termination of this Lease.
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