Common use of Hold Over Clause in Contracts

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Xenetic Biosciences, Inc.), Lease Agreement (Xenetic Biosciences, Inc.)

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Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of fails to surrender the Premises or any part thereof on the day after the expiration or early termination of the Term without a written agreement therefor executed and delivered by LandlordTerm, then without limiting Tenant shall, at Landlord’s other rights and remedies 's election, become a Tenant at sufferance at a monthly rental equal to twice the person remaining in possession shall be deemed Monthly Base Rent for the last month of the Term. Tenant, as a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this LeaseLease (including payment of Percentage Rent and Additional Rent) as though the tenancy had originally been a monthly tenancy. Notwithstanding During any holdover period, each party shall give to the foregoingother at least thirty (30) days' prior written notice to quit the Premises, if Landlord desires to regain possession except in the event of a nonpayment of Monthly Base Rent, Percentage Rent or of Additional Rent when due, or of the Premises promptly breach of any other covenant by the Tenant, in either of which events Tenant shall not be entitled to any notice to quit, the usual thirty (30) day's notice to quit being expressly waived. The foregoing notwithstanding, in the event Tenant shall hold over after expiration of the termination or expiration hereof and prior to acceptance of rent for any period thereafterTerm, Landlord mayLandlord, at its optionelection or option (and in lieu of accepting such holdover thereof), forthwith may re-enter and take possession of the Premises or any part thereof forthwith, without process process, or by any legal action or process in force in the state where jurisdiction in which the Property Building is located. In Further, in the event of any casesuch holdover to which Landlord objects, Tenant shall be liable to Landlord and any other tenants with an interest in the Premises for any and all damages resulting from any failure by Tenant incurred as a result of such holdover, and shall in addition pay to vacate Landlord the Premises or any portion thereof when required hereunderreasonable value of its use of the Premises, which is hereby agreed to be two hundred percent (200%) the Rent under this Lease during the last month of the Term.

Appears in 2 contracts

Samples: Lease Agreement (Smith & Wollensky Restaurant Group Inc), Specific Assignment, Subordination, and Attornment Agreement (New York Restaurant Group Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) 1.75 times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Keros Therapeutics, Inc.), Lease Agreement (Keros Therapeutics, Inc.)

Hold Over. If Tenant (or anyone claiming by, through or under Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay a monthly rent use and occupancy charge (pro pro-rated for such portion of any partial month as Tenant (or anyone claiming by, through or under Tenant) shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market Fair Market Rent for the Premises (which, notwithstanding anything to the contrary contained in this Lease, shall be deemed the rent then being quoted by Landlord for the Premises (or reasonably any portion thereof) or comparable space in the Building, if the Premises (or any portion thereof) or any such space is then being marketed by Landlord), or (b) one hundred and one-half fifty percent (1 1/2150%) times of the monthly amount payable as Base Rent for the twelve (12) -month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s No acceptance by Landlord of the full amount of such rent for the first month of such holding overany payment by Tenant pursuant to this Section shall constitute Tenant (or anyone claiming by, the person remaining in possession shall be deemed through or under Tenant) as a tenant at will will, but Tenant or such other person or entity shall remain a tenant at such rent and otherwise sufferance subject to all of the provisions of this Lease. Notwithstanding the foregoing, if If Landlord desires to regain possession of the Premises promptly after the termination at any time Tenant (or expiration hereof and prior to acceptance of rent for any period thereafteranyone claiming by, through or under Tenant) is holding over, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is locatedlawful, means. In any case, and notwithstanding the provisions of Section 16.10(b) to the contrary, Tenant shall be liable to Landlord for all damages claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) resulting from any failure by Tenant (or anyone claiming by, through or under Tenant) to vacate the Premises or any portion thereof when required hereunder, and shall hold Landlord, its agents and employees, harmless and defend and indemnify Landlord, its agents and employees, from and against any and all claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) which Landlord may pay, incur or suffer on account of any such hold-over in the Premises after the expiration or earlier termination of the Term.

Appears in 2 contracts

Samples: Lease (C4 Therapeutics, Inc.), Lease (C4 Therapeutics, Inc.)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy not immediately surrender to Landlord exclusive possession of the Premises or any part thereof after premises on the expiration or early termination date of the Lease Term without a written agreement therefor executed and delivered by Landlordhereby created, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed Tenant shall, by virtue of this Agreement, become a tenant by the month at sufferancetwice the Minimum Annual Rent, plus [Percentage Rent], additional rent and Tenant shall thereafter pay monthly rent (pro rated other charges provided for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance , commencing said monthly tenancy with the first day next after the end of the full amount of such rent for the first month of such holding overterm above demised; and said Tenant, the person remaining in possession as a monthly tenant, shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this Lease as though the same had originally been a monthly tenancy; and Tenant shall give to Landlord at least thirty (30) days prior written notice to quit said premises, and Tenant shall be entitled to at least thirty (30) days prior written notice from Landlord to quit said premises, except in the event of non-payment of Minimum Annual Rent in advance or of [Percentage Rent] when due or of any other additional rents as provided for in this Lease, when due, or of the breach of any other covenant by Tenant, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days notice to quit being expressly waived by Tenant. Notwithstanding the foregoingHowever, if Tenant shall hold over after the expiration of the term hereby created, and if Landlord desires shall desire to regain possession of said premises promptly at the Premises promptly after expiration of the termination or expiration hereof and term aforesaid, then at any time prior to the acceptance of rent for any period thereafterthe Minimum Annual Rent by Landlord from Tenant as a monthly tenant hereunder, Landlord mayLandlord, at its election and option, forthwith may re-enter and take possession of the Premises or any part thereof said premises forthwith, without process process, or by any legal action or process in force in the state where the Property is locatedState of Maryland. In any case, Tenant Tenant's failure to give notice as required in this Article shall be liable to Landlord for all damages resulting from any failure by obligate Tenant to vacate pay rent calculated as aforesaid for one (1) full calendar month following the Premises or month in which it vacated the premises and monthly thereafter as a hold-over tenant aforesaid. Tenant hereby expressly waives the right to any portion thereof when notice required hereunderto be given by Landlord pursuant to Section 8-402 of the Real Property Article of the Annotated Code of the State of Maryland, as amended.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Mason George Bankshares Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro pro-rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-a half (1 1/21.5x) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or terminationtermination for the first thirty (30) days and then two (2) times such amount thereafter, and in either case (a) or (b), with all Additional Rent also payable as provided in this Lease. After LandlordXxxxxxxx’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 1 contract

Samples: Lease Agreement (Curis Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro pro-rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord to, for the Premises or reasonably comparable space in the Buildingfirst thirty (30) days, or (b) one and one-half (1 1/2) times 150% of the amount payable as monthly Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and a rate equal to 200% of the same thereafter, and in either each case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder.

Appears in 1 contract

Samples: Lease Agreement (Cyteir Therapeutics, Inc.)

Hold Over. If Any holding over by Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession of this Lease shall be deemed treated as a tenant tenancy at sufferancesufferance and shall be on the terms and conditions as set forth in this Lease, and as far as applicable except that Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate use and occupancy charge an amount equal to the greater of (ax) one and one-quarter times 150% of the market rent then being quoted by Landlord for Base Annual Fixed Rent calculated (on a daily basis) at the Premises or reasonably comparable space in highest rate payable under the Building, terms of this Lease or (by) one and one-half the fair market rental value of the Premises, plus in case of (1 1/2x) times the amount payable as Base Rent for the twelve or (12y) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided which Tenant is required to pay hereunder, in this Lease. After Landlord’s acceptance each case for the period measured from the day on which Tenant's hold-over commences and terminating on the day on which Tenant vacates the Premises; provided, however, that in the event Landlord and Tenant are engaged in good faith negotiation to extend the Term of the full amount Lease, then during the period of such rent negotiation following the expiration or early termination of the Lease but in no event for more than sixty (60) days after the expiration or early termination of the Lease ("the Extension Negotiation Period"), the Base Annual Fixed Rent which was in effect immediately prior to the expiration or early termination of the Lease computed on a daily basis shall continue to apply. From and after the end of the Extension Negotiation Period, if any, Tenant shall pay to Landlord as a use and occupancy charge an amount equal to the greater of (x) 150% of the Base Annual Fixed Rent calculated (on a daily basis) at the highest rate payable under the terms of this Lease or (y) the fair market rental value of the Premises, plus in the case of (x) or (y) all Additional Rent which Tenant is required to pay hereunder, in each case for the first month period measured from the day on which Xxxxxx's hold-over commences and terminating on the day on which Tenant vacates the Premises. In addition, Tenant shall save Landlord, its agents and employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees from and against any and all damages which Landlord may suffer on account of such holding over, Xxxxxx's hold-over in the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all Premises after the expiration or prior termination of the provisions term of this Lease. Notwithstanding Nothing in the foregoing, if Landlord desires foregoing nor any other term or provision of this Lease shall be deemed to regain possession of the Premises promptly after the termination or expiration hereof and prior permit Tenant to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Lease Term or require Landlord to enter into negotiations to extend the Term of the Lease. All property which remains on the Premises after the expiration or termination of this Lease shall be conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable sold, then Landlord may receive the proceeds of such sale and apply the same, at its option against the expenses of the sale, the cost of moving and storage, any arrears of rent or other charges payable hereunder by Xxxxxx to Landlord for all and any damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderwhich Landlord may be entitled under this Lease and at law and in equity.

Appears in 1 contract

Samples: Lease (Photoelectron Corp)

Hold Over. If Tenant (or anyone claiming by, through or under Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person or entity remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay a monthly rent use and occupancy charge (pro pro-rated for such portion of any partial month as Tenant (or anyone claiming by, through or under Tenant) shall remain in possession) at a rate equal to one hundred fifty (150%) percent of the greater of (a) one and one-quarter times the market rent then being quoted by Landlord Rent payable for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) last month period immediately preceding prior to such expiration or earlier termination. No acceptance by Landlord of any payment by Tenant pursuant to this Section shall constitute Tenant (or anyone claiming by, and in either case with all Additional Rent also payable through or under Tenant) as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will will, but Tenant or such other person or entity shall remain a tenant at such rent and otherwise sufferance subject to all of the provisions of this Lease. Notwithstanding the foregoing, if If Landlord desires to regain possession of the Premises promptly after the termination at any time Tenant (or expiration hereof and prior to acceptance of rent for any period thereafteranyone claiming by, through or under Tenant) is holding over, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is locatedlawful means. In any case, and notwithstanding the provisions of Section 16.10(b) to the contrary, Tenant shall be liable to Landlord for all damages claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) resulting from any failure by Tenant (or anyone claiming by, through or under Tenant) to vacate the Premises or any portion thereof when required hereunder, and shall hold Landlord, its agents and employees, harmless and defend and indemnify Landlord, its agents and employees, from and against any and all claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) which Landlord may pay, incur or suffer on account of any such hold-over in the Premises after the expiration or earlier termination of the Term.

Appears in 1 contract

Samples: Lease Agreement (SQZ Biotechnologies Co)

Hold Over. If Tenant (or anyone claiming by, through or under Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term or the earlier termination this Lease without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay a monthly rent use and occupancy charge (pro pro-rated for such portion of any partial month as Tenant (or anyone claiming by, through or under Tenant) shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market Fair Market Rent for the Premises (which, notwithstanding anything to the contrary contained in this Lease, shall be deemed the rent then being quoted by Landlord for the Premises (or reasonably any portion thereof) or comparable space in the Building, if the Premises (or any portion thereof) or any such space is then being marketed by Landlord), or (b) one hundred and one-half fifty percent (1 1/2150%) times of the monthly amount payable as Base Rent for the twelve (12) -month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s No acceptance by Landlord of the full amount of such rent for the first month of such holding overany payment by Tenant pursuant to this Section shall constitute Tenant (or anyone claiming by, the person remaining in possession shall be deemed through or under Tenant) as a tenant at will will, but Tenant or such other person or entity shall remain a tenant at such rent and otherwise sufferance subject to all of the provisions of this Lease. Notwithstanding the foregoing, if If Landlord desires to regain possession of the Premises promptly after the termination at any time Tenant (or expiration hereof and prior to acceptance of rent for any period thereafteranyone claiming by, through or under Tenant) is holding over, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in lawful means. Notwithstanding the state where provisions of Section 16.10(b) to the Property is located. In any casecontrary, Tenant shall be liable to Landlord for all damages claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) resulting from any failure by Tenant (or anyone claiming by, through or under Tenant) to vacate the Premises or any portion thereof when required hereunder, and shall hold Landlord, its agents and employees, harmless and defend and indemnify Landlord, its agents and employees, from and against any and all claims, liabilities, damages, losses or costs (including reasonable attorneys’ fees and costs) which Landlord may pay, incur or suffer (i) in the event of an early termination of this Lease, on account of any such hold-over in the Premises after such early termination of this Lease, or (ii) if Landlord has notified Tenant at least ninety (90) days prior to the expiration of the Term of this Lease that Landlord has entered into a lease of all or any portion of the Premises which will commence following the expiration of the Term of this Lease and Tenant (or anyone claiming by, through or under Tenant) fails to vacate the Premises or any portion thereof upon the expiration of the Term of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Kala Pharmaceuticals, Inc.)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain In the event Lessee continues in occupancy possession without the consent of the Premises or any part thereof Lessor after the expiration or early termination end of the Term without a written agreement therefor executed and delivered by Landlordof this Lease or any renewal or extension hereof, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter Lessee agrees to pay as monthly rent (pro rated for such portion rental 150% of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent rent by Lessee for the twelve last month of the term of this lease (12) month period immediately preceding such expiration or terminationthat is, twice the Basic Monthly Rental as adjusted according to the provisions of Article 4 of this Lease, and any other provisions hereof), which amount shall become the new Basic Monthly Rental in substitution for the amount set forth in Article 1 above, and shall be subject to the same escalation provisions as apply to the present Basic Monthly Rental thereunder, and all other forms of additional rent provided for under this Lease. Lessee also agrees to keep and fulfill all of the other material covenants, conditions, and agreements hereof, and in either the case with all Additional Rent also payable as provided of default or breach of any of said covenants, conditions and agreements, hereby waives its right to a thirty (30) day or any other notice to quit; provided, however, that in this Lease. After Landlord’s acceptance the event that Lessee shall hold over after the expiration of the full amount of such rent for the first month of such holding overterm hereby created, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all or after expiration of the provisions 30 day notice to quit referred to above, or after breach of any of the terms and conditions of this Lease. Notwithstanding the foregoing, and if Landlord desires Lessor shall desire to regain possession of the Demised Premises promptly after at the termination expiration of the term aforesaid, or upon expiration hereof and prior to acceptance of rent for said 30 day notice, or upon such breach, then, in any period thereafterof said events, Landlord mayLessor, at its option, may forthwith re-enter and take possession of the Demised Premises it being specifically understood and agreed that, in any such event, Lessor shall be entitled to accept monthly payments in the amount of the holder over rent provided for in this Article 25 from Lessee for such period after such expiration of the term, or of the 30 day notice to quit, or after such breach, as Lessee shall remain in occupancy of the Demised Premises, which payments shall be deemed the reasonable value of the use and occupation of the Demised Premises for the period of Lessee's continued occupancy thereof until Lessor regains possession, and such acceptance shall not constitute a waiver of Lessor's right to terminate the Lease, or any part thereof without process or by hold over period thereof, and Lessor hereby disclaims any legal process in force in intention to waive its right to terminate the state where the Property is located. In any caseLease, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderhold over period thereof, by its acceptance of such payment(s).

Appears in 1 contract

Samples: Lease (Medialink Worldwide Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy not immediately surrender the Premises the day after the end of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlordterm hereby created, then without limiting Tenant shall, by virtue of this agreement, become, at Landlord’s other rights and remedies the person remaining in possession shall be deemed 's option, either (a) a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) a tenant from month-to-month. In either of such events, rent shall be payable at a monthly or daily rate, as the case may be, of one hundred and one-half fifty percent (1 1/2150%) times the amount payable as Base Rent for and Additional Rental payable by Tenant immediately prior to the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance termination of the full amount of such rent for term, with said tenancy to commence on the first month day after the end of such holding over, the person remaining in possession term above demised; and said tenancy shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this Lease insofar as such covenants and conditions are applicable thereto. Nothing contained in this Lease shall be construed as a consent by Landlord to the occupancy or possession of the Premises after the expiration of the term of this Lease. Notwithstanding If Landlord fails to make an election under clause (a) or (b) within ten (10) days after the foregoingexpiration or termination of the term, the hold-over tenancy shall be deemed to be a tenancy from month-to-month. If Tenant holds over as a month-to-month tenant, each party hereto shall give to the other at least thirty (30) days' written notice to quit the Premises (any right to a longer notice period being hereby expressly waived), except in the event of non-payment of rent in advance or of the other Additional Rents provided for herein when due, or of the breach of any other covenant by the said Tenant, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days' notice to quit being expressly waived; provided, however, that in the event Tenant shall hold over after expiration of the term hereby created, and if Landlord desires shall desire to regain possession of the said Premises promptly after at the termination or expiration hereof and of the term aforesaid, then at any time prior to acceptance the date Landlord makes (or is deemed to have made) its election under clause (b) of rent for any period thereafterthis Article 28, Landlord may, at its option, forthwith may re-enter and take possession of the Premises or any part thereof forthwith, without process process, or by any legal action or process in force in the state where in which the Property Premises is located. In ; provided, however, that if Landlord has accepted rent for any caseperiod beyond the expiration of the term and Tenant is not then in default under any of the provisions of this Lease, Landlord shall promptly refund to Tenant shall be liable an amount equal to any excess rental received by Landlord for all damages resulting from with respect to any failure by Tenant period after Landlord exercises its right to vacate re-enter the Premises or any portion thereof when required hereunderunder this Article 28.

Appears in 1 contract

Samples: Office Lease (E Spire Communications Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy not immediately surrender the Premises the day after the end of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlordterm hereby created, then without limiting Tenant shall, by virtue of this agreement, become, at Landlord’s other rights and remedies the person remaining in possession shall be deemed 's option, either (a) a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) a tenant from month-to-month. In either of such events, rent shall be payable at a monthly or daily rate, as the case may be, of one and one-half (1 1/21.5) times the amount payable as Base Rent for and Additional Rental payable by Tenant immediately prior to the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance termination of the full amount of such rent for term, with said tenancy to commence on the first month day after the end of such holding over, the person remaining in possession term above demised; and said tenancy shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this Lease insofar as such covenants and conditions are applicable thereto. Nothing contained in this Lease shall be construed as a consent by Landlord to the occupancy or possession of the Premises after the expiration of the term AV-BTRL6.LSE MVD-5/6/97 of this Lease. Notwithstanding If Landlord fails to make an election under clause (a) or (b) within ten (10) days after the foregoingexpiration or termination of the term, the hold-over tenancy shall be deemed to be a tenancy from month-to-month. If Tenant holds over a s a month-to- month tenant, each party hereto shall give to the other at least thirty (30) days' written notice to quit the Premises (any right to a longer notice period being hereby expressly waived), except in the event of non-payment of rent in advance or of the other Additional Rents provided for herein when due, or of the breach of any other covenant by the said Tenant, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days' notice to quit being expressly waived; provided, however, that in the event Tenant shall hold over after expiration of the term hereby created, and if Landlord desires shall desire to regain possession of the said Premises promptly after at the termination or expiration hereof and of the term aforesaid, then at any time prior to acceptance the date Landlord makes (or is deemed to have made) its election under clause (b) of rent for any period thereafterthis Article 27, Landlord may, at its option, forthwith may re-enter and take possession of the Premises or any part thereof forthwith, without process process, or by any legal action or process in force in the state where in which the Property Premises is located. In ; provided, however, that if Landlord has accepted rent for any caseperiod beyond the expiration of the term and Tenant is not then in default under any of the provisions of this Lease, Landlord shall promptly refund to Tenant shall be liable an amount equal to any excess rental received by Landlord for all damages resulting from with respect to any failure by Tenant period after Landlord exercises its right to vacate re-enter the Premises or any portion thereof when required hereunderunder this Article 27.

Appears in 1 contract

Samples: Office Lease (Boston Biomedica Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s 's other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times 125% of the fair market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times 150% of the amount payable as Base Rent for the twelve (12) -month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s 's acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, and if permitted pursuant to applicable law, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In Notwithstanding the establishment of any caseholdover tenancy following the expiration or earlier termination of the Term, if Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant fails promptly to vacate the Premises at the expiration or earlier termination of the Term, Tenant shall save Landlord harmless and indemnified against any claim, loss, cost or expense (including reasonable attorneys' fees) arising out of Tenant's failure promptly to vacate the Premises (or any portion thereof when required hereunderthereof) and upon demand pay to Landlord any actual damages or loss incurred by Landlord as a result of any delayed or terminated lease of all or part of the Premises by another party.

Appears in 1 contract

Samples: Lease Agreement (Metabolix, Inc.)

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Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term pursuant to the terms and provisions hereof without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) for the first (1st) month of such hold over and at the full monthly rate (with no pro ration) for any portion of any month thereafter, at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or terminationtermination for the first sixty (60) days of such hold over and two (2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination thereafter, and in either case together with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderwithin thirty (30) days after the expiration or earlier termination of the Term.

Appears in 1 contract

Samples: Lease Agreement (Concert Pharmaceuticals, Inc.)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy not immediately surrender the Premises the day after the end of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlordterm hereby created, then without limiting Tenant shall, by virtue of this agreement, become, at Landlord’s other rights and remedies the person remaining in possession shall be deemed option, either (a) a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) a tenant from month-to-month. In either of such events, rent shall be payable at a monthly or daily rate, as the case may be, of one and one-half (1 1/211/2) times the amount payable as Base Rent for and Additional Rental payable by Tenant immediately prior to the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance termination of the full amount of such rent for term, with said tenancy to commence on the first month day after the end of such holding over, the person remaining in possession term above demised; and said tenancy shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this Lease insofar as such covenants and conditions are applicable thereto. Nothing contained in this Lease shall be construed as a consent by Landlord to the occupancy or possession of the Premises after the expiration of the term of this Lease. Notwithstanding If Landlord fails to make an election under clause (a) or (b) within ten (10) days after the foregoingexpiration or termination of the term, the hold-over tenancy shall be deemed to be a tenancy from month-to-month. If Tenant holds over a s a month-to-month tenant, each party hereto shall give to the other at least thirty (30) days’ written notice to quit the’ Premises (any right to a longer notice period being hereby expressly waived), except in the event of non-payment of rent in advance or of the other Additional Rents provided for herein when due, or of the breach of any other covenant by the said Tenant, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days’ notice to quit being expressly waived; provided, however, that in the event Tenant shall hold over after expiration of the term hereby created, and if Landlord desires shall desire to regain possession of the said Premises promptly after at the termination or expiration hereof and of the term aforesaid, then at any time prior to acceptance the date Landlord makes (or is deemed to have made) its election under clause (b) of rent for any period thereafterthis Article 27, Landlord may, at its optionopinion, forthwith may re-enter and take possession of the Premises or any part thereof forthwith, without process process, or by any legal action or process in force in the state where in which the Property Premises is located. In ; provided, however, that if Landlord has accepted rent for any caseperiod beyond the expiration of the term and Tenant is not then in default under any of the provisions of this Lease, Landlord shall promptly refund to Tenant shall be liable an amount equal to any excess rental received by Landlord for all damages resulting from with respect to any failure by Tenant period after Landlord exercises its right to vacate re-enter the Premises or any portion thereof when required hereunderunder this Article 27.

Appears in 1 contract

Samples: Lease (Seracare Life Sciences Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) for the first thirty (30) days at a rate equal to 150%, and thereafter 200%, of the greater of (a) one and one-quarter times the fair market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) twelve-month period immediately preceding such expiration or termination, and in either case with all Additional Rent (which shall not be multiplied by the aforementioned percentage) also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process if a waiver of such right by Tenant is permitted by law or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all actual damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder, which shall include without limitation any costs incurred by Landlord as a result of Landlord’s failure to deliver the Premises in a timely fashion to another tenant due to such failure by Tenant (provided, however, that in no event shall Tenant be liable for lost rents to the extent Landlord actually receives rental income with respect to the Premises).

Appears in 1 contract

Samples: Industrial Real Estate Lease (Alexion Pharmaceuticals Inc)

Hold Over. If Tenant (or anyone claiming through shall hold-over after the expiration of this Lease, the parties hereby agree that Tenant) shall remain in 's occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession term shall be deemed under a tenant at sufferancemonth-to-month tenancy commencing on the first day after the Expiration Date, and shall be upon all of the terms and conditions set forth herein, except that Tenant shall thereafter pay monthly rent (pro rated for such portion each month of any partial month as Tenant's continued use and occupancy of the Premises during which Tenant shall remain in possession) at hold-over a rate sum equal to the greater of one-twelfth (a1/12) of: (x) one and one-quarter times hundred ten (110%) percent of the market rent then being quoted Annual Rental which would have been payable by Landlord for Tenant had Tenant exercised its Renewal Option (as such amount is determined in accordance with Section 4.04(a)(i)), plus (y) the Premises or reasonably comparable space in Additional Rent paid by Tenant during the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the preceding twelve (12) month months pursuant to Sections 4.02 and 4.03 of this Lease; provided, however, that if Tenant shall not have vacated the Premises as a result of an Excusable Delay, or if Tenant shall have been conducting good faith negotiations with Landlord in connection with a renewal or extension of this Lease beyond the expiration of the Initial Term or the Renewal Term, then, for the ninety (90) day period immediately preceding such following the expiration or terminationof this Lease, and the reference in either case with all Additional Rent also payable as clause (x) above to one hundred ten (110%) percent shall be deemed to be one hundred (100%) percent. The payment provided in this Lease. After Landlord’s acceptance Section 31.08 shall be in lieu of the full amount of such rent any other remedy or payment that shall be available to Landlord under this Lease or at law, including, without limitation, damages, for the first month of such holding holding-over, but the person remaining in possession same shall be deemed a tenant at will at such rent and otherwise subject not detract from Landlord's right to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires continue to regain seek to obtain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderPremises.

Appears in 1 contract

Samples: Lease Agreement (Scholastic Corp)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy not immediately surrender the Premises the day after the end of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlordterm hereby created, then without limiting Tenant shall, by virtue of (his agreement, become, at Landlord’s other rights and remedies the person remaining in possession shall be deemed 's option, either (a) a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one a tenant from month-to-month. In either of such events, rent shall be payable at a monthly or daily rate, as the case may be, of 150% the Minimum Rent and one-half (1 1/2) times Additional Rental payable by Tenant immediately prior to the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance termination of the full amount of such rent for term, with said tenancy to commence on the first month day after the end of such holding over, the person remaining in possession term above demised; and said tenancy shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this Lease insofar as such covenants and conditions are applicable thereto. Nothing contained in this Lease shall be construed as a consent by Landlord to the occupancy or possession of the Premises after the expiration of the term of this Lease. Notwithstanding If Landlord fails to make an election under clause (a) or (b) within ten (10) days after the foregoingexpiration or termination of the term, the hold-over tenancy shall be deemed to be a tenancy from month-to-month. If Tenant holds over a month-to-month tenant, each party hereto shall give to the other at least thirty (30) days' written notice to quit the Premises (any right to a Ionger notice period being hereby expressly waived), except in the event of non-payment of rent in advance or of the other Additional Rents provided for herein when due, or of the breach of any other covenant by the said Tenant, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days' notice to quit being expressly waived; provided, however, that in the event Tenant shall hold over after expiration of the term hereby created, and if Landlord desires shall desire to regain possession of the said Premises promptly after at the termination or expiration hereof and of the term aforesaid, then at any time prior to acceptance the date Landlord makes (or is deemed to have made) its election under clause (b) of rent for any period thereafterthis Article 29, Landlord may, at its option, forthwith may re-enter and take possession of the Premises or any part thereof forthwith, without process process, or by any legal action or process in force in the state where in which the Property Premises is located. In ; provided, however, that if Landlord have accepted rent for any caseperiod beyond the expiration of the term and Tenant is not then in default under any of the provisions of this Lease, Landlord shall promptly refund to Tenant shall be liable an amount equal to any excess rental received by Landlord for all damages resulting from with respect to any failure by Tenant period alter Landlord exercises its right to vacate re-enter the Premises or any portion thereof when required hereunderpremises under this Article 29.

Appears in 1 contract

Samples: Lease (E Spire Communications Inc)

Hold Over. Subtenant shall have no right to occupy the Sub-Sublease Premises or any portion thereof after the expiration of this Sublease or after the termination of this Sublease or Subtenant’s right to possession in the event of Subtenant’s default hereunder. If Tenant (or anyone claiming through Tenant) shall remain Subtenant remains in occupancy possession of the Sub-Sublease Premises or any part thereof after beyond the expiration Expiration Date or early sooner termination of this Sublease, Sub-Sublandlord may exercise any and all remedies available to it at law or in equity to recover possession of the Term without a written agreement therefor executed Sub-Sublease Premises and delivered by Landlord, then without limiting Landlord’s other rights to recover the “Holdover Rent,” and remedies the person remaining “Holdover Expenses,” both as defined herein. If Subtenant remains in possession of the Sub-Sublease Premises or any part thereof beyond the Expiration Date or sooner termination of this Sublease, such occupancy shall be deemed a tenant at sufferancetenancy-at-sufferance and Subtenant shall pay, as minimum damages and Tenant shall thereafter pay not as a penalty, a monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) rental at a rate equal to the greater holdover rent payable by Sub-Sublandlord to Master Landlord under the Master Lease (the “Holdover Rent”). In addition, Subtenant shall indemnify and hold Sub-Sublandlord harmless with respect to attorneys’ fees and out-of-pocket expenses incurred by reason of or due to Subtenant’s holding over (a) one the “Holdover Expenses”). The acceptance by Sub-Sublandlord of any lesser sum shall be construed as payment on account and one-quarter times the market rent then being quoted by Landlord not in satisfaction of damages for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over. No acceptance by Sub-Sublandlord of any rent during or for any period following the expiration or termination of this Sublease shall operate or be construed as an extension or renewal of this Sublease. Subtenant acknowledges that it is critical that Subtenant surrender the Sub-Sublease Premises on or before the Expiration Date in accordance with the terms of this Sublease. Subtenant expressly waives, for itself and for any person claiming through or under Subtenant, any rights that Subtenant or any such person may have under the person remaining provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law of same import then in possession shall be deemed a tenant at will at such rent and otherwise subject force, in connection with any holdover proceedings that Sub-Sublandlord may institute to all of enforce the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderSection 17.

Appears in 1 contract

Samples: Sublease Agreement (Harris Interactive Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy The parties hereby acknowledge that the expiration date of the Master Lease is July 31, 2018 and that it is therefore critical that Subtenant surrender the Sublease Premises to Sublandlord not later than the Expiration Date in accordance with terms hereof. If Subtenant holds possession of the Sublease Premises or any part portion thereof after the Sublease Term with Sublandlord’s written consent, then except as otherwise specified in such consent, Subtenant shall become a subtenant from month to month at one hundred ten percent (110%) of Base Rent and Additional Rent and otherwise upon the terms herein specified for the period immediately prior to such holding over and shall continue in such status until such tenancy is terminated by either party upon not less than thirty (30) days prior written notice. If Subtenant holds possession of the Sublease Premises or any portion thereof after the Sublease Term without Sublandlord’s written consent, the Sublandlord at its sole discretion may elect (by written notice to Subtenant) to have Subtenant become a subtenant either from month to month or at will, at one hundred fifty percent (150%) of Base Rent and Additional Rent (prorated on a daily basis for an at-will tenancy, if applicable) and otherwise upon all the terms herein specified for the period immediately prior to such holding over, or any elect to pursue any and all legal remedies available to Sublandlord under applicable law with respect to an unconsented to holding over by Subtenant. Subtenant shall indemnify, and hold Sublandlord harmless from any loss, damage, claim, liability, cost or expense (including reasonable attorney’s fees) resulting from any delay by Subtenant in surrendering the Sublease Premises (except to the extent such delay is with Sublandlord’s prior written consent), including, but not limited to, any claims made by a succeeding subtenant by reason of such delay. Acceptance of Rent by Sublandlord following expiration or early termination of this Sublease shall not constitute a renewal of this Sublease. If Subtenant uses radioactive materials in the Term without a written agreement therefor executed and delivered by LandlordSublease Premises, then without limiting Landlord’s other rights and remedies the person remaining in possession it shall be deemed a tenant at sufferanceholdover tenant, without Sublandlord’s consent, until it has delivered to Sublandlord and Tenant shall thereafter pay monthly rent (pro rated Master Landlord a satisfactory letter, executed by all applicable governmental agencies, which letter terminates the radioactive materials license and releases the Sublease Premises for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space unrestricted use. Nothing in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession sentence shall be deemed a tenant at will at such rent and otherwise subject to all abrogate any of the provisions of this Lease. Notwithstanding Sublease with respect to the foregoing, if Landlord desires to regain possession use of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force radioactive materials in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunderSublease Premises.

Appears in 1 contract

Samples: Sublease (Exelixis Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlord, then without limiting Landlord’s other rights and remedies the person remaining in possession shall be deemed a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater higher of 200% of (ax) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) one and one-half (1 1/2) times the amount payable as Base Rent for the twelve (12) month last monthly period immediately preceding such expiration or terminationtermination or (y) fair market rent, and in either each case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance of the full amount of such rent for the first month of such holding over, the person remaining in possession shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions of this Lease. Notwithstanding the foregoing, if Landlord desires to regain possession of the Premises promptly after the termination or expiration hereof and prior to acceptance of rent for any period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Premises or any part thereof without process or by any legal process in force in the state where the Property is located. In any case, Tenant shall be liable to Landlord for all damages actually resulting from any failure by Tenant to vacate the Premises or any portion thereof when required hereunder; provided, however, that Tenant’s liability for damages (excluding the holdover Base Rent set forth above) during the first ninety (90) days after the expiration or earlier termination of the Lease shall be limited to Landlord’s actual lost rents and out-of-pocket costs (including, without limitation, brokerage commissions, reasonable attorneys’ fees, design costs, advertising costs and any penalties as liquidated damages that Landlord may incur) due to such holdover’s effect on a bona-fide third party’s agreement to lease or otherwise occupy the Premises.

Appears in 1 contract

Samples: Lease Agreement (Ironwood Pharmaceuticals Inc)

Hold Over. If Tenant (or anyone claiming through Tenant) shall remain in occupancy not immediately surrender the Premises the day after the end of the Premises or any part thereof after the expiration or early termination of the Term without a written agreement therefor executed and delivered by Landlordterm hereby created, then without limiting Tenant shall, by virtue of this agreement, become, at Landlord’s other rights and remedies the person remaining in possession shall be deemed 's option, either (a) a tenant at sufferance, and Tenant shall thereafter pay monthly rent (pro rated for such portion of any partial month as Tenant shall remain in possession) at a rate equal to the greater of (a) one and one-quarter times the market rent then being quoted by Landlord for the Premises or reasonably comparable space in the Building, or (b) a tenant from month-to-month. In either of such events, rent shall be payable at a monthly or daily rate, as the case may be, of one and one-one- half (1 1/2) times the amount Minimum Rent and Additional Rental payable as Base Rent for by Tenant immediately prior to the twelve (12) month period immediately preceding such expiration or termination, and in either case with all Additional Rent also payable as provided in this Lease. After Landlord’s acceptance termination of the full amount of such rent for term, with said tenancy to commence on the first month day after the end of such holding over, the person remaining in possession term above demised; and said tenancy shall be deemed a tenant at will at such rent and otherwise subject to all of the provisions conditions and covenants of this Lease insofar as such covenants and conditions are applicable thereto. Nothing contained in this Lease shall be construed as a consent by Landlord to the occupancy or possession of the Premises after the expiration of the term of this Lease. Notwithstanding If Landlord fails to make an election under clause (a) or (b) within ten (10) days after the foregoingexpiration or termination of the term, the hold-over tenancy shall be deemed to be a tenancy from month-to-month. If Tenant holds over as a month-to-month tenant, each party hereto shall give to the other at least thirty (30) days' written notice to quit the Premises (any right to a longer notice period being hereby expressly waived), except in the event of non-payment of rent in advance or of the other Additional Rents provided for herein when due, or of the breach of any other covenant by the said Tenant, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days' notice to quit being expressly waived; provided, however, that in the event Tenant shall hold over after expiration of the term hereby created, and if Landlord desires shall desire to regain possession of the said Premises promptly after at the termination or expiration hereof and of the term aforesaid, then at any time prior to acceptance the date Landlord makes (or is deemed to have made) its election under clause (b) of rent for any period thereafterthis Article 29, Landlord may, at its option, forthwith may re-enter and take possession of the Premises or any part thereof forthwith, without process process, or by any legal action or process in force in the state where in which the Property Premises is located. In ; provided, however, that if Landlord has accepted rent for any caseperiod beyond the expiration of the term and Tenant is not then in default under any of the provisions of this Lease, Landlord shall promptly refund to Tenant shall be liable an amount equal to any excess rental received by Landlord for all damages resulting from with respect to any failure by Tenant period after Landlord exercises its right to vacate re-enter the Premises or any portion thereof when required hereunderunder this Article 29.

Appears in 1 contract

Samples: Lease (Inktomi Corp)

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