Common use of End of Term Clause in Contracts

End of Term. In the event of any holding over by Tenant after the expiration or termination of this lease without the consent of Landlord, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession of the Premises. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 2 contracts

Samples: Sub Lease Agreement (Loxo Oncology, Inc.), Sub Lease (Loxo Oncology, Inc.)

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End of Term. In Unless Tower Operator exercises the event Purchase Option with respect to a Site under Section 20, the assignment by the applicable Verizon Lessor to Tower Operator of any holding over the Collocation Agreements in respect of each Site shall automatically terminate and expire and all Collocation Agreements (including, for clarity, Collocation Agreements entered into by Tenant Tower Operator after the Effective Date) shall automatically be (or be deemed) reassigned or assigned, as the case may be, to such Verizon Lessor or its designee, and such Verizon Lessor or its designee shall accept such reassignment or assignment, as the case may be, upon the expiration of the Term of, or earlier termination of, this Agreement in respect of this lease without such Site; provided, however, that the consent applicable Verizon Lessor or Verizon Ground Lease Party may refuse to accept such reassignment or assignment of Landlord, Tenant shall; a Collocation Agreement if any Lien (other than any Lien (i) pay as use and occupancy for each month of existing on the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of the term date of this leaseAgreement and created by a Person other than Tower Operator, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with its terms; (ii) created by the Verizon Lessors or any of their Affiliates or (iii) that does not diminish the value of such Collocation Agreement or the related Site or require payments to be liable made by Verizon Lessor after the Collocation Agreement is reassigned or assigned to Landlord for Verizon Lessor) exists against such Collocation Agreement at the time of such reassignment or assignment and is not released or discharged upon the consummation of such reassignment or assignment. Additionally, Tower Operator shall indemnify the applicable Verizon Lessor against any payment and all Claims of any Tower Subtenant or rent concession which Landlord other person existing at the time of such reassignment or assignment and arising out of or in respect to any such Collocation Agreement executed after the Effective Date. Tower Operator shall execute all documentation reasonably necessary to confirm such reassignment or assignment, as the case may be, to a counterparty under a Collocation Agreement, at Verizon Lessor’s cost and expense; provided, however, that, if Tower Operator reasonably determines it to be unduly burdensome, Tower Operator shall not be required to make to obtain any tenant in order to induce such tenant not to terminate an executed lease covering all new board resolutions from any Person that is a corporation or similar resolutions or approvals from any portion of the Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contraryPerson that is a limited liability company, the acceptance of any Rent partnership, trust or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any other legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession of the Premises. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenantentity.

Appears in 2 contracts

Samples: Master Prepaid Lease (American Tower Corp /Ma/), Master Prepaid Lease (American Tower Corp /Ma/)

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the term of this leaseDemised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and otherwise observe, fulfill and perform (ii) shall remove all of its obligations Tenant's Personal Property and all other property and effects of Tenant and all persons claiming through or under this lease, Tenant (including, but not limited to, those pertaining to additional rentremoval of all vertical wiring which extends into conduit and/or the Building risers and shafts regardless of at whose expense such vertical wiring was installed except as otherwise provided in Section 21.02) from the Demised Premises and the Building, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable shall repair all damage to Landlord for the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the Demised Term, remove any damages suffered Specialty Alterations (as defined herein) and/or private interior staircases constructed by Landlord or on behalf of Tenant in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (including any attorneys’ fees and disbursements) referred to herein as the result "Other Space") in the Building occupied by Tenant, and restore those portions of Tenant’s failure the Demised Premises, the Other Space and the Building affected by any such Specialty Alterations and/or staircases (including, but not limited to, the slabbing over of any openings) to surrender the condition of each which existed prior to the installation of any such Specialty Alterations and/or staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding anything contained the provisions of subdivision (iv) of the foregoing sentence, in this Article the event Owner does not elect to have removed any such staircase or other Specialty Alteration referred to therein, any such staircase or other Specialty Alteration shall be and remain the contraryproperty of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the acceptance of sale thereof, without waiving Owner's rights with respect to any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 shall be performed on or prior to the Saturday or business day immediately preceding such Sunday or holiday. For purposes of this Section 21.01, the term "Specialty Alterations" shall mean Alterations consisting of any kitchens (but excluding any pantry), executive or private bathrooms, raised computer floors, vaults, any steel plates or reinforcement installed by Tenant (including without limitation, in connection with libraries or file systems), dumbwaiters, pneumatic tubes, horizontal transportation systems, and any other Alterations of a similar character to those enumerated in this sentence, and the installation of any equipment outside of the Demised Premises. No holding over by Tenant after Tenant's obligations under this Section shall survive the Term shall operate to extend the Term. The holdover, with respect to all expiration or any part sooner termination of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by TenantDemised Term.

Appears in 1 contract

Samples: Bion Environmental Technologies Inc

End of Term. In the event of any holding over by Tenant after the expiration or termination of this lease without the consent of Landlord, Tenant shall; : (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Demised Premises for such month (as reasonably determined by Landlord) or (b) one hundred fifty (150%) percent of the Rent payable by Tenant for the last mouth month prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rentrent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, 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 by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any attorneys’ reasonable attorneys fees and disbursements) as the result of Tenant’s failure to surrender the Demised Premises. Notwithstanding anything contained in this Article Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47Paragraph 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. Tenant The provisions of this Paragraph 52 shall be deemed to be an “agreement expressly waives, for itself and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession providing otherwise” within the meaning of Section 232-c of the PremisesReal Property Law of the State of New York and any successor law of like import. No holding over by Tenant 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 person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Assignment Agreement (Standard Microsystems Corp)

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the Demised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and (ii) shall 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 (iii) shall repair all damage to the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the term of this leaseDemised Term, remove any private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (referred to herein as the "Other Space") in the Building occupied by Tenant, and otherwise observerestore those portions of the Demised Premises, fulfill the Other Space and perform all of its obligations under this lease, the Building affected by any such staircases (including, but not limited to, those pertaining the slabbing over of any openings) to additional rentthe condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in accordance the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the property of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in 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 its terms; (ii) be liable to Landlord for any payment or rent concession which Landlord may be required to make respect to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession enforce the foregoing provisions of this Article. If said date upon which the PremisesDemised 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 shall be performed on or prior to the Saturday or business day immediately preceding such Sunday or holiday. No There shall be no holding over by Tenant after the Term shall operate expiration or earlier termination of this Lease and the failure by Tenant to extend the Term. The holdover, with respect to all or any part deliver possession of the Demised Premises to Owner shall be an unlawful holdover. During any period in which Tenant so holds over, at Owner's option, the rental value of the Demised Premises, payable from the date immediately following the date on which Tenant was to deliver the Demised Premises to Owner, through and including the last day of a Person deriving an interest the calendar month in which Tenant so delivers the Premises from or through Tenant, including, but not limited to, an assignee or subtenantDemised Premises, shall be deemed a holdover by to be equal to the greater of 150% of (a) the Fixed Rent payable immediately preceding the expiration or earlier termination of this Lease, or (b) the then fair market rental value of the Demised Premises. Tenant's obligations under this Section shall survive the expiration or sooner termination of the Demised Term.

Appears in 1 contract

Samples: GTJ REIT, Inc.

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the Demised Premises to Owner, broom clean and in good order and condition, ordinary wear and tear and damage by casualty excepted, and (ii) shall 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 (iii) shall repair all damage to the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the term of this leaseDemised Term, remove any private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (referred to herein as the "OTHER SPACE") in the Building occupied by Tenant, and otherwise observerestore those portions of the Demised Premises, fulfill the Other Space and perform all of its obligations under this lease, the Building affected by any such staircases (including, but not limited to, those pertaining the slabbing over of any openings) to additional rentthe condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in accordance the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the property of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in 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 its terms; (ii) be liable to Landlord for any payment or rent concession which Landlord may be required to make respect to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Agreement of Lease (Iturf Inc)

End of Term. In On the event date upon which the Demised Term ----------- shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the Demised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and (ii) shall 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 (iii) shall repair all damage to the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable on or before the expiration or earlier termination of the term of this leaseDemised Term, remove any private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (referred to herein as the "Other Space") in the Building occupied by ----------- Tenant, and otherwise observerestore those portions of the Demised Premises, fulfill the Other Space and perform all of its obligations under this lease, the Building affected by any such staircases (including, but not limited to, those pertaining the slabbing over of any openings) to additional rentthe condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in accordance the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the property of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in 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 its terms; (ii) be liable to Landlord for any payment or rent concession which Landlord may be required to make respect to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Blackrock Inc /Ny

End of Term. In the event of any holding over by Tenant after the expiration or termination of this lease without the consent of LandlordofLandlord, Tenant shall; : (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Demised Premises for such month (as reasonably determined by Landlord) or (b) one hundred fifty (150%) percent of the Rent payable by Tenant for the last mouth month prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rentrent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, 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 by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any attorneys’ reasonable attorneys fees and disbursements) as the result of Tenant’s 's failure to surrender the Demised Premises. Notwithstanding anything contained in this Article Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47Paragraph 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. Tenant The provisions of this Paragraph 52 shall be deemed to be an "agreement expressly waives, for itself and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession providing otherwise" within the meaning of Section 232-c of the PremisesReal Property Law of the State of New York and any successor law of like import. No holding over by Tenant 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 person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Standard Microsystems Corp

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the term of this leaseDemised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and otherwise observe, fulfill and perform (ii) shall remove all of its obligations Tenant's Personal Property and all other property and effects of Tenant and all persons claiming through or under this lease, Tenant (including, but not limited to, those pertaining to additional rentall telecommunications (facilities) from the Demised Premises and the Building, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable shall repair all damage to Landlord for the Demised Premises and the Building occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the Demised Term, remove any damages suffered by Landlord private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (including any attorneys’ fees and disbursements) referred to herein as the result "Other Space") in the Building occupied by Tenant, and restore those portions of Tenant’s failure the Demised Premises, the Other Space and the Building affected by any such staircases (including, but not limited to, the slabbing over of any openings) to surrender the condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding anything contained the provisions of subdivision (iv) of the foregoing sentence, in this Article the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the contraryproperty of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the acceptance of sale thereof, without waiving Owner's rights with respect to any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Agreement (Appliedtheory Corp)

End of Term. In the event Tenant fails to surrender the Demised Premises to Landlord in the condition required by the terms of any holding over by Tenant after this lease on or before the expiration or earlier termination of this lease without the consent of Landlordlease, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to : one hundred fifty (150%) percent of the greater 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 (a200%) the fair market rental value percent of the Premises for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth third month prior to the Expiration Date of the term of this leaselease 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 accordance with 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 by reason of the holdover by Tenant; and (iii) be liable to Landlord for any actual damages suffered by Landlord (including any reasonable attorneys? fees and disbursements) as the result of Tenant’s Tenant?s failure to surrender the Demised Premises. Notwithstanding anything contained in this Article Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47Paragraph 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 Real Property Law of the State of New York and any successor law of like import. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding which Landlord may institute to regain possession of the Demised Premises. No holding over by Tenant 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 person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant in the entire Demised Premises. If at any time during the last month of the Term Tenant shall have removed all or substantially all of Tenant's property from the Demised Premises, Landlord may, and Tenant hereby irrevocably grants to Landlord a license to, immediately enter and alter, renovate and redecorate the Demised Premises, without elimination, diminution or abatement of Rent, or incurring liability to Tenant for any compensation, and such acts shall have no effect upon this lease.

Appears in 1 contract

Samples: Scientific Industries Inc

End of Term. In Upon any Expiration Date: (a) all Buildings, FF&E not removed from the event Premises, and Building Equipment shall become Landlord’s property; (b) Tenant shall deliver to Landlord possession of the Premises, in the condition this Lease requires, reasonable wear and tear excepted and subject to any holding over by Loss that this Lease does not require Tenant after to Restore; (c) Tenant shall surrender any right, title, or interest in and to the expiration or termination Premises and deliver such evidence and confirmation thereof as Landlord reasonably requires; (d) Tenant shall deliver the Premises free and clear of this lease without the consent of Landlord, Tenant shall; all: (i) pay as use Subleases, and occupancy (ii) liens except (1) Permitted Exceptions and (2) liens that Landlord or any of its agents consented to in writing, caused or joined in; (e) Tenant shall assign to Landlord, without recourse, and give Landlord copies or originals of, all assignable licenses, permits, contracts, warranties, and guarantees then in effect for each month of the holdover an amount equal to one hundred fifty Premises; (150%) percent of the greater of (af) the fair market rental value parties shall reasonably cooperate to achieve an orderly transition of operations from Tenant to Landlord without interruption, including delivery of such books and records (or copies thereof) as Landlord reasonably requires; (g) the parties shall adjust for Real Estate Taxes and all other expenses and income of the Premises and any prepaid Rent and shall make such payments as shall be appropriate on account of such adjustment in the same manner as for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with 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 a sale of the Premises by reason (but any sums otherwise payable to Tenant shall first be applied to cure any Default); (h) the parties shall terminate the Memorandum of the holdover by TenantLease; and (iiii) be liable Tenant shall assign to Landlord, and Landlord shall reimburse Tenant for, all utility and other service provider deposits for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained to the contrary in this Article to Subsection, Tenant may remove from the contraryPremises any FF&E, but Tenant must do so, if at all, before or within 30 days after the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofExpiration Date. Tenant expressly waivesshall not, for itself and for however, remove any person claiming through Buildings or under Tenant, Building Equipment. Tenant shall repair any legal rights which Tenant or material damage from any such person removal. During such 30-day period: (x) Tenant may enter the Premises for such purposes, without being deemed a holdover; (y) Landlord shall have no obligation to preserve or protect such FF&E; and (z) in connection with any holdover or summary proceeding which Landlord may institute to regain possession of the Premises. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of entering the Premises, of a Person deriving an interest in Tenant shall comply with Landlord’s reasonable instructions. Tenant’s FF&E not removed within 30 days after the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, Expiration Date shall be deemed a holdover by Tenantabandoned.

Appears in 1 contract

Samples: Lease

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date Date, Tenant, at Tenant’s sole cost and expense, (i) shall quit and surrender the Demised Premises to Owner, broom clean and in as good order and condition as received on the Commencement Date, ordinary wear and tear, casualties, condemnation, Hazardous Materials (other than those released by Tenant), and Alterations which Tenant is permitted to surrender upon termination of the term of this leaseLease, excepted, and otherwise observe, fulfill and perform (ii) shall remove all of its obligations Tenant’s Personal Property (whether or not Alterations, but with it acknowledged that those Alterations described in Exhibit 3 shall not have to be removed) and all other property and effects of Tenant and all persons claiming through or under this lease, Tenant (including, but not limited to, those pertaining to additional rentremoval of all wiring whether within or outside the Demised Premises regardless of at whose expense the wiring was installed except as otherwise provided in Section 21.02) from the Demised Premises and the Building, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article shall repair all damage to the contraryDemised Premises occasioned by such removal and (iv) shall, at Owner’s election, exercisable on or before the acceptance expiration or earlier termination of the Demised Term, remove any Rent or use and occupancy paid by Tenant pursuant to this Article 47Specialty Alterations (as defined herein) including, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding without limitation, private interior staircases in the nature thereof. Tenant expressly waives, for itself and for any person claiming through Demised Premises or under Tenant, any legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession of connecting the Premises. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all Demised Premises or any part thereof with any other space (referred to herein as the “Other Space”) in the Building occupied by Tenant, and restore those portions of the Demised Premises, of a Person deriving an interest in the Premises from or through Tenant, Other Space and the Building affected by any such Specialty Alterations (including, but not limited to, an assignee or subtenantthe slabbing over of any openings) to the condition of each which existed prior to the installation of any such Specialty Alterations, shall be deemed a holdover and repair any damage to the Demised Premises, Other Space and the Building occasioned by Tenant.such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in the event Owner does not elect to have removed any

Appears in 1 contract

Samples: 3PAR Inc.

End of Term. In On the event date upon which the Demised Term ----------- shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the term Demised Premises to Owner, broom clean and in good order and condition, ordinary wear and tear and damage or destruction by fire or any other casualty and repairs for which Tenant is not responsible under the provisions of this leaseLease excepted, and otherwise observe, fulfill and perform (ii) shall remove all of its obligations Tenant's Personal Property and all other property and effects of Tenant and all persons claiming through or under this lease, Tenant (including, but not limited to, those pertaining to additional rentall telecommunications facilities) from the Demised Premises and the Building, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable shall repair all damage to Landlord for the Demised Premises and the Building occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the Demised Term, remove any damages suffered by Landlord private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (including any attorneys’ fees and disbursements) referred to herein as the result "Other Space") in the Building ----------- occupied by Tenant, and restore those portions of Tenant’s failure the Demised Premises, the Other Space and the Building affected by any such staircases (including, but not limited to, the slabbing over of any openings) to surrender the condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding anything contained the provisions of subdivision (iv) of the foregoing sentence, in this Article the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the contraryproperty of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the acceptance of sale thereof, without waiving Owner's rights with respect to any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Bottomline Technologies Inc /De/

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the Demised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and (ii) shall 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 (iii) shall repair all damage to the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the term of this leaseDemised Term, remove any private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (referred to herein as the "Other Space") in the Building occupied by Tenant, and otherwise observerestore those portions of the Demised Premises, fulfill the Other Space and perform all of its obligations under this lease, the Building affected by any such staircases (including, but not limited to, those pertaining the slabbing over of any openings) to additional rentthe condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in accordance the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the property of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in 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 its terms; (ii) be liable to Landlord for any payment or rent concession which Landlord may be required to make respect to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Agreement of Lease (United States Financial Group Inc /Ny)

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End of Term. In the event of any holding over by Tenant after the expiration or termination of this lease without the consent of Landlord, Tenant shall; : (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Demised Premises for such month (as reasonably determined by Landlord) or (b) one hundred fifty (150%) percent of the Rent payable by Tenant for the last mouth month prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rentrent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, 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 by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any attorneys’ reasonable attorneys fees and disbursements) as the result of Tenant’s 's failure to surrender the Demised Premises. Notwithstanding anything contained in this Article Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47Paragraph 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. Tenant The provisions of this Paragraph 52 shall be deemed to be an "agreement expressly waives, for itself and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession providing otherwise" within the meaning of Section 232-c of the PremisesReal Property Law of the State ofNew York and any successor law of like import. No holding over by Tenant 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 person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Standard Microsystems Corp

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of Date, Tenant, at Tenant’s sole cost and expense, (i) shall quit and surrender the term Demised Premises to Owner, broom clean and in good order and condition consistent with Tenant’s obligations under Section 5.01 of this leaseLease, ordinary wear and damage caused by casualty or condemnation excepted, and otherwise observe, fulfill and perform (ii) shall remove all of its obligations Tenant’s Personal Property and all other property and effects of Tenant and all persons claiming through or under this lease, Tenant (including, but not limited to, those pertaining to additional rentremoval of all vertical wiring whether within or outside the Demised Premises regardless of at whose expense the vertical wiring was installed except as otherwise provided in Section 21.02) from the Demised Premises and the Building, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable shall repair all damage to Landlord for the Demised Premises occasioned by such removal: and (iv) shall, at Owner’s election (but subject to the provisions of Section 3.01W), exercisable no less than six (6) months prior to the expiration or two (2) months after the earlier termination of the Demised Term, remove any damages suffered by Landlord Specialty Alterations (including as defined herein) including, without limitation, private interior staircases in the Demised Premises or connecting the Demised Premises or any attorneys’ fees and disbursements) part thereof with any other space (referred to herein as the result “Other Space”) in the Building occupied by Tenant, and repair any material damage to those portions of Tenant’s failure to surrender the Demised Premises, the Other Space and the Building affected by any such Specialty Alterations (including, but not limited to, the slabbing over of any openings). Notwithstanding anything contained the provisions of subdivision (iv) of the foregoing sentence, in this Article the event Owner does not elect to have removed any such staircase or other Specialty Alteration referred to therein (or in the contraryevent that Owner does not have the right to require the same as set forth in Section 3.01W), any such staircase or other Specialty Alteration shall be and remain the acceptance property of Owner at no cost or expense to Owner. Owner shall have the right to retain any Rent property and effects which shall remain in the Demised Premises after the expiration or use sooner termination of the Demised Term, and occupancy paid any net proceeds from the sale thereof, without waiving Owner’s rights with respect to any default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession enforce the foregoing provisions of this Article. Even 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 shall nonetheless still be performed on or prior such date. For purposes of this Section 21.01, the term “Specialty Alterations” shall mean, if and to the extent installed by Tenant, any supplemental HVAC units, kitchens, private interior staircases, executive or private bathrooms, raised computer floors, vaults, any steel plates or reinforcement (including without limitation, in connection with libraries or file systems), dumbwaiters, pneumatic tubes, horizontal transportation systems, and any other work or installations of a similar character to those enumerated in this sentence, and any equipment dedicated for Tenant’s use outside of the Demised Premises. No holding over by Tenant after the Term In no event shall operate to extend the Term. The holdover, with respect to all or any part aspect of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall Owner’s Initial Work be deemed a holdover by Specialty Alteration. Tenant.’s obligations under this Section shall survive the expiration or sooner termination of the Demised Term. 

Appears in 1 contract

Samples: Agreement of Lease (Bankrate, Inc.)

End of Term. In the event of any holding over by Tenant after the expiration or termination of this lease without the consent of Landlord, Tenant shall; : (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Demised Premises for such month (as reasonably determined by Landlord) or (b) one hundred fifty (150%) percent of the Rent payable by Tenant for the last mouth month prior to the Expiration Date of the ofthe term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rentrent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, 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 by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any attorneys’ reasonable attorneys fees and disbursements) as the result of Tenant’s 's failure to surrender the Demised Premises. Notwithstanding anything contained in this Article Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47Paragraph 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. Tenant The provisions of this Paragraph 52 shall be deemed to be an "agreement expressly waives, for itself and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have in connection with any holdover or summary proceeding which Landlord may institute to regain possession providing otherwise" within the meaning of Section 232-c of the PremisesReal Property Law of the State of New York and any successor law of like import. No holding over by Tenant 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 person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.

Appears in 1 contract

Samples: Standard Microsystems Corp

End of Term. In the event of Upon any holding over by Tenant after the expiration or termination of this lease without the consent of LandlordExpiration Date:(a) all Improvements, Tenant shallControlled Signage (excluding any signage belonging to any Subtenants) and Tenant/Subtenant Equipment shall become Landlord's property; (b) Tenant shall deliver to Landlord possession of the Premises, in the condition this Lease requires, subject to any Loss that this Lease does not require Tenant to Restore; (c) Tenant shall surrender any right, title, or interest in and to the Premises and deliver such evidence and confirmation thereof as Landlord reasonably requires; (d) Tenant shall deliver the Premises free and clear of all: (i) pay Subleases except as use otherwise herein elsewhere specifically provided, and occupancy (ii) liens except liens that Landlord or any of its agents caused; (e) Tenant shall assign to Landlord, without recourse, and give Landlord copies or originals of, all assignable licenses, permits, contracts, warranties, and guarantees then in effect for each month of the holdover an amount equal to one hundred fifty Premises; (150%) percent of the greater of (af) the fair market rental value parties shall cooperate to achieve an orderly transition of operations from Tenant to Landlord (or a substitute tenant designated by Landlord) without interruption, including delivery of such books and records (or copies thereof) as Landlord reasonably requires; (g) the parties shall adjust for Impositions and all other expenses and income of the Premises and any prepaid Rent and shall make such payments as shall be appropriate on account of such adjustment in the same manner as for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with 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 a sale of the Premises by reason of the holdover by Tenant(but any sums otherwise payable to Tenant shall first be applied to cure any Default); and (iiih) be liable Tenant shall assign to Landlord (or a substitute tenant designated by Landlord), and Landlord shall reimburse Tenant for, all utility and other service provider deposits for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained to the contrary in this Article to paragraph, Tenant may remove from the contraryPremises any Tenant/Subtenant FF&E that (in either case) Xxxxxx acquired after the Commencement Date, but Tenant must do so, if at all, before or within thirty (30) days after the acceptance of Expiration Date. Tenant shall not, however, remove any Rent Center Equipment or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding Tenant/Subtenant Equipment or any action or proceeding in the nature portion thereof. Tenant expressly waivesshall repair any damage from such removal. During such thirty (30) day period: (x) Tenant may enter the Premises for such purposes, for itself without being deemed a holdover; (y) Landlord shall have no obligation to preserve or protect such Tenant/Subtenant FF&E; and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have (z) in connection with any holdover or summary proceeding which Landlord may institute to regain possession of the Premises. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of entering the Premises, of a Person deriving an interest in Tenant shall comply with Landlord's instructions and requirements relating thereto. Tenant's Tenant/Subtenant FF&E not removed within thirty (30) days after the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, Expiration Date shall be deemed a holdover by Tenantabandoned.

Appears in 1 contract

Samples: Lease

End of Term. In Section 21.01. On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of the provisions of this Lease or by operation of law, 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 Owner, broom clean and in good order and condition, ordinary wear and damage or destruction by fire, the elements and other casualty or repairs for which Tenant is not liable under the provisions of this Lease excepted, and (ii) shall 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 (iii) shall repair all damage to the Demised Premises occasioned by such removal. Owner shall have the right to retain any holding over by Tenant property and effects which shall remain in the Demised Premises after the expiration or sooner termination of this lease the Demised Term, and any net proceeds from the sale thereof, without the consent of Landlord, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal waiving Owner's rights with respect to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) or (b) the Rent payable any default by Tenant for under the last mouth prior to the Expiration Date of the term foregoing provisions of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 Sunday or holiday, then Tenant's obligations under the first sentence of this Section 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdover, with respect to all or any part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.(See Article 44)

Appears in 1 contract

Samples: Lease (Nelson Communications Inc)

End of Term. In 23.1 Upon the expiration or earlier termination of this Sublease, Subtenant shall quit and surrender to Sublandlord the Subleased Premises vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Subtenant is not responsible under the terms of this Sublease excepted, and Subtenant shall, (i) to the extent required by Overlandlord or Master Landlord or both pursuant to the terms of the Primary Lease Documents; or (ii) to the extent required by Sublandlord, in its sole discretion, in the event this Sublease is terminated as a result of a default by Subtenant hereunder, at Subtenant’s sole cost and expense, remove all of its property and all Alterations (as defined in Article 27 hereof) including Subtenant’s Work and all Non-Structural Alterations (as defined in Article 27 hereof) made or installed by Subtenant and shall repair any holding over damage caused by Tenant after any such removal. If at the time Subtenant requests Sublandlord’s consent to Subtenant’s Work (and such consent is required), Subtenant also requests Sublandlord to designate the portions of Subtenant’s Work which must be removed pursuant to this Section, Sublandlord shall make that designation on the date Sublandlord gives its consent to Subtenant’s Work and Subtenant shall not be obligated to remove the portions of Subtenant’s Work not designated unless the same is required by Overlandlord or Master Landlord or both pursuant to notice thereof, given at any time prior to the expiration or termination of this lease without the consent of Landlord, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rentSublease Term, in accordance with its terms; the terms of the Primary Lease Documents or by Sublandlord pursuant to clause (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 Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premisespreceding sentence. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereof. Tenant Subtenant expressly waives, for itself and for any person claiming through or under TenantSubtenant, any legal rights which Tenant Subtenant or any such person may have under the provisions of Article 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 or summary proceeding proceedings which Landlord Sublandlord may institute to regain enforce the foregoing provisions of this Article. The obligations of Subtenant under this Article shall survive the expiration or sooner termination of the Sublease Term. Notwithstanding the foregoing, if the Subleased Premises are not vacated and surrendered in such condition at the Sublease Expiration Date, Subtenant shall and hereby agrees to indemnify and hold Sublandlord harmless from and against any and all claims, losses, expenses or damages, including, without limitation, attorneys’ fees and disbursements, arising out of or resulting from any delay by Subtenant in so surrendering the Subleased Premises, or any portion thereof, including, without limitation, any amounts payable by Sublandlord to Overlandlord or Master Landlord pursuant to the Primary Lease Documents in respect of the Oxxxxxxxx Premises by reason thereof. In the event Subtenant remains in possession of the Subleased Premises. No holding over by Tenant , or any portion thereof, after the Term shall operate Sublease Expiration Date, the parties recognize and agree that the damage to extend Sublandlord resulting therefrom will be substantial and will exceed the Term. The holdover, with respect to all or any part amount of the Premisesmonthly installments of the rent payable hereunder. Subtenant therefore agrees that in addition to any other right or remedy Sublandlord may have hereunder or at law or in equity, Subtenant, at the option of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenantSublandlord, shall be deemed to be occupying the Subleased Premises as a subtenant from month-to-month, at a monthly rental equal to one and one-quarter (11/4) times (x) the monthly Fixed Rent and Additional Rent and other Rental payable during the last month of the scheduled term hereof or (y) the fair market value for the Subleased Premises, whichever is greater, subject to all of the other terms of this Sublease and the Primary Lease Documents insofar as the same are applicable to a month-to-month tenancy. The provisions of the preceding sentence shall not be construed to limit any other rights or remedies which might be available to Sublandlord as a result of Subtenant’s failure to surrender possession of the Subleased Premises or any portion thereof on the Sublease Expiration Date, including, without limitation, prosecuting a holdover by Tenantor su mmary dispossess proceeding.

Appears in 1 contract

Samples: Agreement of Sublease (First Albany Companies Inc)

End of Term. In On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of any holding over by Tenant after the expiration or termination provisions of this lease without the consent Lease or by operation of Landlordlaw, Tenant shall; (i) pay as use and occupancy for each month of the holdover an amount equal to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) whether on or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of Date, Tenant, at Tenant's sole cost and expense, (i) shall quit and surrender the term of this leaseDemised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and otherwise observe, fulfill and perform (ii) shall remove all of its obligations Tenant's Personal Property and all other property and effects of Tenant and all persons claiming through or under this lease, Tenant (including, but not limited to, those pertaining to additional rentremoval of all vertical wiring whether within or outside the Demised Premises regardless of at whose expense the wiring was installed except as otherwise provided in Section 21.02) from the Demised Premises and the Building, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable shall repair all damage to Landlord for the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the Demised Term, remove any damages suffered by Landlord Specialty Alterations (including as defined herein) and/or private interior staircases in the Demised Premises or connecting the Demised Premises or any attorneys’ fees and disbursements) part thereof with any other space (referred to herein as the result "Other Space") in the Building occupied by Tenant, and restore those portions of Tenant’s failure the Demised Premises, the Other Space and the Building affected by any such Specialty Alterations and/or staircases (including, but not limited to, the slabbing over of any openings) to surrender the condition of each which existed prior to the installation of any such Specialty Alterations and/or staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding anything contained the provisions of subdivision (iv) of the foregoing sentence, in this Article the event Owner does not elect to have removed any such Specialty Alterations and/or staircase referred to therein, any such Specialty Alterations and/or staircase shall be and remain the contraryproperty of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the acceptance of sale thereof, without waiving Owner's rights with respect to any Rent or use and occupancy paid default by Tenant pursuant to under the foregoing provisions of this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereofSection. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal 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 or summary proceeding proceedings which Landlord Owner may institute to regain possession 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 shall be performed on or prior to the Saturday or business day immediately preceding such Sunday or holiday. Notwithstanding the foregoing terms and conditions of this Article 21, Owner shall have the option of slabbing over any openings otherwise required to be done by Tenant, and Tenant shall reimburse Owner for all reasonable out of pocket costs and expenses in connection with the same. For purposes of this Section 21.01, the term "Specialty Alterations" shall mean Alterations consisting of any kitchens, executive or private bathrooms, raised computer floors, vaults, any steel plates or reinforcement installed by Tenant (including without limitation, in connection with libraries or file systems), dumbwaiters, pneumatic tubes, horizontal transportation systems, any supplementary HVAC equipment and the installation or replacement of any windows or louvers in connection with any supplementary HVAC equipment, and any other Alterations of a similar character to those enumerated in this sentence, and the installation of any equipment outside of the Demised Premises. No holding over by Tenant, prior to Tenant's performance of a Specialty Alteration, shall have the right to request that Owner designate that Tenant after shall not be required to remove such Specialty Alteration upon the Term shall operate to extend the Term. The holdover, with respect to all expiration or any part earlier termination of the PremisesDemised Term, as aforesaid. If Tenant makes any such request, and Owner approves such request (Owner shall approve or deny such request when Owner responds to the submission of Tenant's plans and specifications therefor), then Owner shall not have the right to require Tenant to remove such Specialty Alteration upon the expiration or earlier termination of the Demised Term (any such Specialty Alteration which Tenant shall not be required to remove pursuant to this sentence being referred to herein as a Person deriving an interest in "Qualified Specialty Alteration"). Tenant's obligations under this Section shall survive the Premises from expiration or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenantsooner termination of the Demised Term.

Appears in 1 contract

Samples: Agreement of Lease (Langer Inc)

End of Term. In the event of Upon any holding over by Tenant after the expiration or termination of this lease without the consent of LandlordExpiration Date:(a) all Improvements, Tenant shallControlled Signage (excluding any signage belonging to any Subtenants) and Tenant/Subtenant Equipment shall become Landlord's property; (b) Tenant shall deliver to Landlord possession of the Premises, in the condition this Lease requires, subject to any Loss that this Lease does not require Tenant to Restore; (c) Tenant shall surrender any right, title, or interest in and to the Premises and deliver such evidence and confirmation thereof as Landlord reasonably requires; (d) Tenant shall deliver the Premises free and clear of all: (i) pay Subleases except as use otherwise herein elsewhere specifically provided, and occupancy (ii) liens except liens that Landlord or any of its agents caused; (e) Tenant shall assign to Landlord, without recourse, and give Landlord copies or originals of, all assignable licenses, permits, contracts, warranties, and guarantees then in effect for each month of the holdover an amount equal to one hundred fifty Premises; (150%) percent of the greater of (af) the fair market rental value parties shall cooperate to achieve an orderly transition of operations from Tenant to Landlord (or a substitute tenant designated by Landlord) without interruption, including delivery of such books and records (or copies thereof) as Landlord reasonably requires; (g) the parties shall adjust for Impositions and all other expenses and income of the Premises and any prepaid Rent and shall make such payments as shall be appropriate on account of such adjustment in the same manner as for such month (as reasonably determined by Landlord) or (b) the Rent payable by Tenant for the last mouth prior to the Expiration Date of the term of this lease, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with 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 a sale of the Premises by reason of the holdover by Tenant(but any sums otherwise payable to Tenant shall first be applied to cure any Default); and (iiih) be liable Tenant shall assign to Landlord (or a substitute tenant designated by Landlord), and Landlord shall reimburse Tenant for, all utility and other service provider deposits for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained to the contrary in this Article to paragraph, Tenant may remove from the contraryPremises any Tenant/Subtenant FF&E that (in either case) Tenant acquired after the Commencement Date, but Tenant must do so, if at all, before or within thirty (30) days after the acceptance of Expiration Date. Tenant shall not, however, remove any Rent Center Equipment or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding Tenant/Subtenant Equipment or any action or proceeding in the nature portion thereof. Tenant expressly waivesshall repair any damage from such removal. During such thirty (30) day period: (x) Tenant may enter the Premises for such purposes, for itself without being deemed a holdover; (y) Landlord shall have no obligation to preserve or protect such Tenant/Subtenant FF&E; and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have (z) in connection with any holdover or summary proceeding which Landlord may institute to regain possession of the Premises. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of entering the Premises, of a Person deriving an interest in Tenant shall comply with Landlord's instructions and requirements relating thereto. Tenant's Tenant/Subtenant FF&E not removed within thirty (30) days after the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, Expiration Date shall be deemed a holdover by Tenantabandoned.

Appears in 1 contract

Samples: Lease

End of Term. In Section 21.01. On the event date upon which the Demised Term shall expire and come to an end, whether pursuant to any of the provisions of this Lease or by operation of law, 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, broom clean and in good order and condition except for ordinary wear and tear, damage by fire or other casualty for which Tenant is not otherwise liable and damage caused by the acquisition or condemnation of all or any holding over part of the Demised Premises for any public or quasi-public use or purpose, and (ii) shall 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 (iii) shall repair all damage to the Demised Premises occasioned by such removal. Notwithstanding the foregoing, Tenant shall not be required to so remove any wires or cables concealed above the finished ceiling, behind finished walls or beneath the finished floor so long as such wiring or cabling is suitably capped. Landlord shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of this lease without the consent of Landlord, Demised Term (so long as Tenant shall; (i) pay as use and occupancy for each month has otherwise relinquished possession of the holdover an amount equal Demised Premises), and any net proceeds from the sale thereof, without waiving Landlord's rights with respect to one hundred fifty (150%) percent of the greater of (a) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) or (b) the Rent payable any default by Tenant for under the last mouth prior to the Expiration Date of the term foregoing provisions of this leaseSection. To the extent legally permissible, and otherwise observe, fulfill and perform all of its obligations under this lease, including, but not limited to, those pertaining to additional rent, in accordance with 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 Premises by reason of the holdover by Tenant; and (iii) be liable to Landlord for any damages suffered by Landlord (including any attorneys’ fees and disbursements) as the result of Tenant’s failure to surrender the Premises. Notwithstanding anything contained in this Article to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Article 47, shall not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the nature thereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any legal rights which Tenant or any such person may have under the provisions of any present or future law then in force, to apply for or obtain any stay or extension of its right to remain in possession of the Demised Premises or any part thereof in connection with any holdover summary proceeding or summary any other action or proceeding which Landlord may institute to regain possession 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 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 or sooner termination of the Premises. No holding over by Tenant after the Term shall operate to extend the Demised Term. The holdoverTenant shall pay to Landlord, for each month (or fraction thereof) during which Tenant fails to comply with respect such obligations (referred to all as the "Holdover Period") a sum equal to 150% of the Fixed Rent payable for the month immediately preceding the Expiration Date. Such payments (referred to as "Holdover Payments") are acknowledged to be a reasonable approximation of the damages which will be incurred by Landlord on account of such failure. In no event shall the demand for or receipt of any Holdover Payments be deemed to preclude Landlord from seeking to have Tenant evicted from the Demised Premises during the Holdover Period or pursuing any other available remedy on account of Tenant's failure to comply with Tenant's obligations under this Section, provided however that Tenant shall not be liable to Landlord for the payment of damages in excess of the Holdover Payments for the initial thirty (30) days included as part of the Premises, of a Person deriving an interest in the Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by TenantHoldover Period.

Appears in 1 contract

Samples: Lease (Liberty Financial Companies Inc /Ma/)

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