Holding Over by Tenant. Should Tenant or any assignee or subtenant holdover the Premises or any part thereof after the expiration or termination of this Lease, such holdover shall not constitute a renewal of this Lease and shall constitute and be construed as a tenancy from month to month only, for which Tenant shall pay rental equal to the greater of (1) current market rental value for the property as determined by a real estate appraiser hired by Landlord or (2) 125% of the Base Rent paid or to be paid to Landlord hereunder for the last month of the term immediately preceding such holdover period, and otherwise subject to all of the conditions, provisions and obligations of this Lease insofar as the same are applicable to a month-to month tenancy.
Appears in 4 contracts
Samples: Ground Lease (Campus Crest Communities, Inc.), Ground Lease (Campus Crest Communities, Inc.), Ground Lease (Campus Crest Communities, Inc.)
