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 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 [ ] [ ]