Common use of EXPIRATION OF LEASE Clause in Contracts

EXPIRATION OF LEASE. Tenant shall, at the expiration or sooner termination of the Term, peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, the Leased Premises together with all buildings, alterations, additions, erections, leasehold improvements, repairs and installations, including the air-conditioning and heating system, done or made by the Tenant, both movable and immovable, except the equipment and furniture belonging to Tenant which must be removed at Tenant's expense on or before the expiration of the Lease. Tenant shall repair any and all damages caused to the Leased Premises and/or to the Building as a result of such removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the above, Landlord may at its option advise Tenant in writing that he does not wish the ownership of all or any part of the above described property, in which case Tenant shall remain owner of such property refused by Landlord and shall, at its own expense, immediately remove such property and repair any damage to the Leased Premises and/or the Building caused by the original installation and/or removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in the Leased Premises following the expiration of the Term, it is understood that Landlord may then, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal of improvements and fixtures from the Leased Premises during or at the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the Term.

EXPIRATION OF LEASE. Tenant 15.1 The Lessee shall, at the expiration or sooner termination of the TermTerm of this Lease, peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, the Lessor the Leased Premises Premises, together with all buildingsadditions, alterations, additionschanges or erections (unless the Lessor has elected otherwise pursuant to Section 14 which at any time during the Term hereof shall be made therein or thereon, erectionsin good repair and condition subject to reasonable wear and tear only; 15.2 Notwithstanding the foregoing, leasehold improvementsthe Lessee may, repairs and installations, including subject to the air-conditioning and heating system, done provisions of Section 14 at or made by the Tenant, both movable and immovable, except the equipment and furniture belonging prior to Tenant which must be removed at Tenant's expense on or before the expiration of the Lease. Tenant shall repair any term hereof, remove its equipment and all damages caused machinery, or other articles belonging to or brought upon the Leased Premises and/or by the Lessee, provided that notwithstanding anything to the Building as a result of such removalcontrary herein contained, using materials equal in quality to that the Lessee at or after the termination of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the above, Landlord may at its option advise Tenant in writing that he does Lease shall not wish the ownership of all or any part of the above described property, in which case Tenant shall remain owner of such property refused by Landlord and shall, at its own expense, immediately remove such property and repair any damage to the Leased Premises and/or the Building caused by the original installation and/or removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in the Leased Premises following the expiration of the Term, it is understood that Landlord may then, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal of improvements and fixtures from the Leased Premises during any fixed partitions, plumbing equipment, heating equipment, air-conditioning equipment, local wiring including floor ducts, or telephone conduits, and no compensation shall be allowed to the Lessee for the same. Should the Lessor desire the Lessee to remove any of the foregoing items for his own reasons and purposes, he shall so notify the Lessee and the Lessee shall do so at the end Lessee’s own expense and the Lessee will restore the Leased Premises to their original state, subject only to reasonable wear and tear. Should it be necessary for the Lessor to restore the Leased Premises to their original condition at his own expense, or should the Lessor be required to repair any damage caused by the removal of the Termaforementioned items, such then any amount so spent by the Lessor shall be chargeable to the Lessee and payable by the latter as one of the obligations of the Lease; 15.3 The present Lease shall terminate ipso facto and without notice or demand on the date herein stated and any continued occupation of the said Leased Premises by the Lessee shall not have the effect of extending the period or of renewing the present Lease for any period of time and the Landlord's rights in respect thereto Lessee shall remain in full force and effect notwithstanding be presumed to occupy the expiration or sooner termination said Leased Premises against the will of the Term.Lessor who shall thereupon be entitled to make use of any and all remedies by law provided for the expulsion of the Lessee for damages; provided, however. that the Lessor shall have the right at his option, in the event of such continued occupation by the Lessee, to give to the Lessee at any time written notice that the Lessee may continue to occupy the Leased Premises under a tenancy from month to month in consideration of a Guaranteed Minimum Monthly Rental equivalent to twice the rent payable per month as hereinabove set forth in Section 4.1 hereof;

EXPIRATION OF LEASE. Tenant shall, The Lessee shall at the expiration or sooner termination of the Term, Term of this Lease peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, Lessor the Leased Premises together with all buildings, alterations, replacements, additions, erections, and improvements (leasehold improvementsor otherwise), repairs and including, but not limited to electrical installations, including the electric or other fixtures, offices, partitions, divisions, showrooms, air-conditioning and heating systemequipment, done panelling, built-in furniture, wall-to-wall carpets, attached carpets or made other floor coverings, attached cabinets, attached conveyor systems, attached racks, or other attached equipment, wiring, switches, meters, meter boxes and transformers, which at any time during the Term hereof shall be placed, made, installed, fixed or attached therein or thereon by the TenantLessee, both movable in good repair and immovablecondition, except subject to reasonable wear and tear only, and without any compensation whatsoever being allowed to the equipment and furniture belonging to Tenant which must be removed at Tenant's expense on Lessee for same. Lessee shall not remove or before the expiration alter any of the Lease. Tenant shall repair any and all damages caused to foregoing during the Leased Premises and/or to the Building as a result of such removal, using materials equal in quality to that Term of the damaged materialsLease or Renewal or Extension thereof, failing which Landlord may do so at Tenant's expensewithout the written consent of the Lessor. Notwithstanding However, the aboveLessor shall have the right to require the Lessee, Landlord may at its option advise Tenant in writing that he does not wish prior to or after the ownership termination of all the Lease or any part renewal or extension thereof, to remove any or all of the above described propertyforegoing items, in which case Tenant the Lessee shall remain owner of such property refused by Landlord and shallremove the items requested to be removed, at its own expense, immediately remove such property and repair repairing any damage related thereto or caused thereby, and to the extent required by the Lessor, the Lessee shall leave the Leased Premises and/or in their original good and clean state and condition, subject to reasonable wear and tear. The Lessee shall give the Building caused by Lessor six (6) months written notice prior to the original installation and/or removaldate of termination of this Lease or any renewal thereof, using materials equal in quality of its intention to that of vacate the damaged materialsLeased Premises, failing which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in the Leased Premises following the expiration of the Term, it is understood that Landlord may thenLessor may, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect give written notice to the maintenance, repair and alteration Lessee within a period of not less than thirty (30) days before the Leased Premises and removal date of improvements and fixtures from the Leased Premises during or at the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the TermLease that the Lease is renewed for a further period of twelve (12) months, and upon the Lessor giving such written notice, the Lease shall be thereby so renewed at the rent and other terms and conditions as may then apply.

EXPIRATION OF LEASE. Tenant shall, at the expiration or sooner termination of the Term, peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, the Leased Premises together with all buildings, alterations, additions, erections, leasehold improvements, repairs and installations, including the air-conditioning and heating system, done or made by the Tenant, both movable and immovable, except the equipment and furniture belonging to Tenant which must be removed at Tenant's expense on or before the expiration of the Lease. Tenant shall repair any and all damages caused to the Leased Premises and/or to the Building as a result of such removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the above, Landlord may at its option advise Tenant in writing that he does not wish the ownership of all or any part of the above described property, in which case Tenant shall remain owner of such property refused by Landlord and shall, at its own expense, immediately remove such [ILLEGIBLE] property and repair any damage to the Leased Premises and/or the Building caused by the original installation and/or removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in the Leased Premises following the expiration of the Term, it is understood that Landlord may then, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal of improvements and fixtures from the Leased Premises during or at the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the Term.

EXPIRATION OF LEASE. Tenant shall, The Lessee shall at the expiration or sooner termination of the Term, Term of this Lease peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, Lessor the Leased Premises together with all buildings, alterations, replacements, additions, erections, and improvements (leasehold improvementsor otherwise), repairs and including, but not limited to electrical installations, including the electric or other fixtures, offices, partitions, divisions, showrooms, air-conditioning and heating systemequipment, done panelling, built-in furniture, wall-to-wall carpets, attached carpets or made other floor coverings, attached cabinets, attached conveyor systems, attached racks, or other attached equipment, wiring, switches, meters, meter boxes and transformers, which at any time during the Term hereof shall be placed, made, installed, fixed or attached therein or thereon by the TenantLessee, both movable in good repair and immovablecondition, except subject to reasonable wear and tear only, and without any compensation whatsoever being allowed to the equipment and furniture belonging Lessee for same. Lessee shall not remove or alter any of the foregoing during the Term of the Lease or Renewal or Extension thereof, without the written consent of the Lessor. However, the Lessor shall have the right to Tenant which must be removed at Tenant's expense on or before require the Lessee, by written notice given to the Lessee no later than the expiration of the Lease. Tenant shall repair any and all damages caused to the Leased Premises and/or to the Building as a result of such removal, using materials equal in quality to that Term of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the above, Landlord may at its option advise Tenant in writing that he does not wish the ownership of all Lease or any part renewal or extension thereof, to remove -any or all of the above described propertyforegoing items, in which case Tenant the Lessee shall remain owner of such property refused by Landlord and shallremove the items requested to be removed, at its own expense, immediately remove such property and repair repairing any damage related thereto or caused thereby, and to the extent required by the Lessor, the Lessee shall leave the Leased Premises and/or in their original good and clean state and condition, subject to reasonable wear and tear. The foregoing obligation of the Building caused Lessee to remove items is limited to items which have been installed by the original installation and/or removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expenseLessee. If Tenant leaves any equipment or furniture in the Leased Premises following the expiration of the Term, it is understood that Landlord may then, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal of improvements and fixtures from the Leased Premises during or at the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the Term.INITIALS Lessor Lessee [ ] [ ]

EXPIRATION OF LEASE. The present lease shall terminate ipso facto and without notice or demand on the date stated in Section 2 hereof and any continued occupation of the Premises by Tenant shall not have the effect of extending the period or of renewing the present lease for any period of time, the whole notwithstanding any provisions of law and Tenant shall be presumed to occupy the Premises against the will of Landlord who shall thereupon be entitled to make use of any and all remedies by law providing for the expulsion of Tenant and for damages, provided, however, that Landlord shall have the right at its option in the event of such continued occupation by Tenant to give to Tenant at any time written notice that Tenant may continue to occupy the Premises under a tenancy from month to month in consideration of a net rental one and a half (1.5) times the monthly Minimum Net Rentals that was payable during the year immediately preceding the expiry date of this lease, payable monthly and in advance and otherwise under the same terms and conditions as are herein set forth. The Tenant shall, at the expiration or sooner termination of the TermTerm of this lease, peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, the Leased Premises together with all buildingsadditions, alterations, additionschanges or installations which at any time during the Tenn hereof shall be made therein or thereon, erectionsin good repair and condition, leasehold improvementssubject to reasonable wear and tear and damage by fire, lightening, tempest, structural weakness or defect, Acts of God, civil commotion, right and insurrection, cause beyond the control of the Tenant and damage for which Landlord is insured or damage for which a prudent Landlord would be insured and those repairs and installationswhich are the responsibility of the Landlord pursuant to the terms hereof only. Notwithstanding the foregoing, including the air-conditioning and heating system, done Tenant shall at or made by the Tenant, both movable and immovable, except the equipment and furniture belonging prior to Tenant which must be removed at Tenant's expense on or before the expiration of the Lease. Term hereof remove its movable effects and/or articles belonging to or brought upon the Leased Premises by Tenant and the Tenant shall repair any and all damages caused to the Leased Premises and/or to the Building as a result of by such removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the above, Landlord may at its option advise The Tenant in writing that he does not wish the ownership of all or any part of the above described property, in which case Tenant shall remain owner of such property refused by Landlord and shall, at its own expense, immediately remove such property and repair any damage to the Leased Premises and/or the Building caused by the original installation and/or removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in the Leased Premises following the expiration of the Term, it is understood that Landlord may then, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fitmust forthwith remove, at Tenant's expense, without incurring any liability all its alterations or improvements to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal upon the written request of improvements and fixtures from Landlord, unless the Leased Premises during Landlord prefers that the whole or at any part of such alterations or installations excluding movable effects and/or movable articles should remain, without any compensation whatsoever being allowed to the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding Tenant for same. At the expiration or sooner termination of the TermTerm of this lease, Landlord shall have the right, at Tenant's expense, plus an administrative fee of fifteen percent (15%) for doing so, which shall be charged to Tenant as additional rent, to repair any damages caused by the Tenant or those for whom it is responsible in law to the Leased Premises and not repaired by Tenant, the whole subject to reasonable wear and tear and damage by fire, lightening, tempest, structural weakness or defect, Acts of God, civil commotion, right and insurrection, causes beyond the control of the Tenant and damage for which Landlord is insured or damage for which a prudent Landlord would be insured and those repairs which are the responsibility of the Landlord pursuant to the terms hereof. Furthermore, Landlord shall have the right at Tenant's expense plus an administrative fee of fifteen percent (15%) for doing so, to remove any signage that Tenant may have left on the Building and to repair any damages caused by such removal and to restore the Building to its condition at the commencement of this Lease subject to reasonable wear and tear and damage by fire, lightening, tempest, structural weakness or defect, Acts of God, civil commotion, rights and insurrections, causes beyond the control of the Tenant and damage for which Landlord is insured or damage for which a prudent Landlord would be insured and those repairs which are the responsibility of the Landlord pursuant to the terms hereof. Notwithstanding the foregoing, the Tenant shall not have to remove the second floor of the Leased Premises, any structural reinforcement thereto, the freight elevator and its machine room. exterior walls and windows.

EXPIRATION OF LEASE. Tenant shall, at 16.1 upon the expiration of the term of this Lease or on the sooner termination of the Termthereof, TENANT shall peaceably and quietly leave, surrender and yield up unto LandlordLANDLORD all the demised premises free of occupants. 16.2 TENANT may remove from the demised premises any decorations, who shall become absolute owner thereoffurniture, the Leased Premises together with all buildingsshelving, alterations, additions, erections, leasehold improvements, repairs fixtures and installations, including the air-conditioning and heating system, done or made by the Tenant, both movable and immovable, except the equipment and furniture belonging to Tenant which must be removed at Tenant's expense on or before the expiration of the Lease. Tenant shall repair any and all damages caused to the Leased Premises and/or to the Building as a result of such removal, using materials equal in quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the above, Landlord may at its option advise Tenant in writing that he does not wish the ownership of all or any part of the above described property, in which case Tenant shall remain owner of such property refused by Landlord and TENANT shall, at its own expense, immediately remove such property and repair any have installed in the premises. Any damage caused to the Leased Premises and/or demised premises by such removal shall be repaired at TENANT'S expense. 16.3 Any removable property of TENANT which shall remain in or upon the Building caused demised premises after the termination or expiration of this Lease and the removal of TENANT from the premises may, at the option of LANDLORD, be deemed to have been abandoned, and either may be retained by LANDLORD as its property, or may be disposed of in such manner as LANDLORD may see fit, at the original installation and/or removalsole expense of TENANT. 16.4 At the termination or expiration of this Lease, using materials equal all erections, alterations, additions and improvements, whether temporary or permanent in quality character, which may be made upon the demised premises by any person, except furniture, movable trade fixtures or movable machinery or equipment of TENANT, shall, at LANDLORD'S option, either (i) become the property of LANDLORD, and shall remain upon and be surrendered with the demised premises as a part thereof without compensation to that TENANT or to anyone else, or (ii) be removed by TENANT at its sole cost and expense. 16.5 Notwithstanding anything to the contrary provided in this Lease, at the expiration or earlier termination of the damaged materialsterm hereof, failing which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture TENANT shall deliver the demised premises to LANDLORD in a clean and orderly condition, substantially as it exists on the Leased Premises following date hereof, ordinary wear and tear excepted. 16.6 TENANT agrees that during the six months prior to the expiration of the Termterm of this Lease, it is understood that Landlord LANDLORD may then, at its option, either accept full and absolute ownership of same and may use it place on the demised premises any usual or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, ordinary "For Lease" or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal of improvements and fixtures from the Leased Premises during or at the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the Term"For Sale" signs.

EXPIRATION OF LEASE. The Tenant shall, at the expiration or sooner termination of the TermTerm of this lease, peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, the Leased Premises together with all buildingsadditions, alterations, additions, erections, leasehold improvements, repairs and installations, including changes or erections which at any time during the air-conditioning and heating system, done Term hereof shall be made therein or made thereon whether by the Landlord or Tenant, both movable in good repair and immovablecondition, except subject to reasonable wear and tear only the equipment whole without any compensation whatsoever being allowed to the Tenant for same, said alterations or installations then becoming Landlord's sole and furniture belonging to Tenant which must be removed at Tenant's expense on or before the expiration of the Leaseabsolute property. Tenant shall repair any Any and all damages caused to the Leased Premises and/or building shall be repaired to meet the Building as a result of such removal, using materials equal in original quality to that of the damaged materials, failing which Landlord may do so at Tenant's expense. Notwithstanding the aboveforegoing, Landlord may the Tenant shall at its option advise Tenant in writing that he does not wish the ownership of all or any part termination of the above described property, in which case Tenant shall remain owner lease or sooner termination thereof pursuant to the terms and conditions of such property refused by Landlord and shall, at the lease remove its own expense, immediately remove such property and repair any damage movable effects and/or articles belonging to or brought upon the Leased Premises and/or by Tenant and the Building Tenant shall repair any damages caused by the original installation and/or such removal, using materials equal in quality to that of the damaged materials, failing similarly at such time. Any fixtures and any movable effects or articles which Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in are affixed on the Leased Premises following the expiration of the Term, it is understood that Landlord may then, at its option, either accept full in any manner whatsoever shall become Landlord's sole and absolute ownership of same and may use it or dispose of it as property. Notwithstanding the foregoing, Tenant shall, upon [ILLEGIBLE] I. C.N.N. Page 12 this lease, Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fitshall have the right, at Tenant's expense, without incurring to repair any liability damages caused to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and not repaired by Tenant, the whole subject to reasonable wear and tear. Furthermore, Landlord shall have the right at Tenant's expense to remove any signage that Tenant may have left on the building and to repair any damages caused by such removal of improvements and fixtures from to restore the Leased Premises during or at building to its original condition, the end of whole without any compensation whatsoever being allowed to the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the TermTenant for same.

EXPIRATION OF LEASE. Tenant shall, acknowledges that possession of the Premises must be surrendered to Landlord at the expiration or sooner termination of the Term, peaceably surrender and yield up unto Landlord, who shall become absolute owner thereof, the Leased Premises together with all buildings, alterations, additions, erections, leasehold improvements, repairs and installations, including the air-conditioning and heating system, done or made by the Tenant, both movable and immovable, except the equipment and furniture belonging to Tenant which must be removed at Tenant's expense on or before the expiration term of the this Lease. Tenant shall repair agrees to indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and all damages caused agree that the damage to the Leased Premises and/or Landlord resulting from any failure by Tenant to the Building as a result of such removal, using materials equal in quality to that timely surrender possession of the damaged materialsPremises as aforesaid will be extremely substantial, failing which Landlord may do so at Tenant's expense. Notwithstanding will exceed the above, Landlord may at its option advise Tenant in writing that he does not wish the ownership of all or any part amount of the above described propertymonthly rent and additional rent theretofore payable hereunder, in which case and will be impossible to accurately measure. Tenant shall remain owner of such property refused by Landlord and shall, at its own expense, immediately remove such property and repair any damage to the Leased Premises and/or the Building caused by the original installation and/or removal, using materials equal in quality to therefore agrees that if possession of the damaged materials, failing which Premises is not surrendered to Landlord may do so at Tenant's expense. If Tenant leaves any equipment or furniture in on the Leased Premises following the expiration date of the Term, it is understood that Landlord may then, at its option, either accept full and absolute ownership of same and may use it or dispose of it as Landlord determines, without compensation payable to Tenant and without incurring any liability to Tenant, or Landlord may dispose of same as it sees fit, at Tenant's expense, without incurring any liability to Tenant. If the Tenant has failed to fulfil its obligations under this lease with respect to the maintenance, repair and alteration of the Leased Premises and removal of improvements and fixtures from the Leased Premises during or at the end of the Term, such obligations and the Landlord's rights in respect thereto shall remain in full force and effect notwithstanding the expiration or sooner termination of the Termterm of this Lease, then Tenant shall pay to Landlord for each month and for each portion of any month during which Tenant holds over in the Premises after the expiration or sooner ​ ​ termination of the term of this Lease, a sum equal to the aggregate of that portion of the Base Rent and additional rent which was payable under this Lease during the last month of the term hereof, same payable in advance on the first day of each month provided, however, if Landlord has executed a lease with a new tenant for the premises, or has issued or received a letter of intent (or similar document) to enter into a lease with a new tenant, (in either event Landlord shall provide copy of the same to Tenant), then Tenant shall pay to Landlord for each month and for each portion of any month during which Tenant holds over in the premises after the expiration or sooner termination of the term of this Lease, a sum equal to two times the aggregate of that portion of the Base Rent and additional rent which was payable under this Lease during the last month of the term hereof, same payable in advance on the first day of each month. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the expiration or sooner termination of the term of this Lease. The provisions of this paragraph shall survive the expiration or sooner termination of the term of this Lease.