Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 2 contracts
Sources: Office Lease (SecureWorks Corp), Office Lease (SecureWorks Holding Corp)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration or earlier termination of this Lease with the express written consent of Landlord, ▇▇▇▇▇▇'s occupancy shall be a month-to-month tenancy at a rent agreed upon by Landlord and Tenant, but in no event less than the greater of (i) one hundred fifty percent (150%) of the Term without any modification Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease, except Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. ▇▇▇▇▇▇▇▇'s acceptance of rent after such holding over with ▇▇▇▇▇▇▇▇'s written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord's consent, ▇▇▇▇▇▇'s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to the greater of (i) one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided fair market rental (as reasonably determined by Landlord) for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to or (ii) two hundred percent (200%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 2 contracts
Sources: Office Lease (Ask Jeeves Inc), Office Lease (Ask Jeeves Inc)
Holding Over. Provided It is hereby agreed that in the event of Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holding over after the expiration of the Term without any modification termination of this Lease, except as provided hereinby lapse of time or otherwise, or other thereafter the tenancy shall be from month to month in the absence of a written agreement between to the parties for a period of up to six (6) months after the Expiration Datecontrary, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in to Landlord a monthly occupancy charge equal to (i) for the amount first sixty (60) days of holdover, one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to monthly Basic Rental payable hereunder for the expiration last lease year, and (ii) for any holdover beyond said sixty (60) days, one hundred fifty percent (150%) of the Term, monthly Basic Rental payable hereunder for the last lease year (plus all other Rent provided for in charges payable by Tenant under this Lease, except that, after the expiration of ) such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer occupancy charges to be effective. After the expiration of such permitted holdover period, or at any other time after payable from the expiration or termination of this Lease during until the end of the calendar month in which Tenant remains the Premises are delivered to Landlord in occupancy the condition required herein. If Landlord shall enter into a new lease or amend an existing lease for premises in the Building for all or a portion of the Premises without at the express right end of the Term of this Lease, Landlord shall so notify Tenant and if Tenant fails to do so under vacate and deliver all or such portion of the Premises to Landlord within sixty (60) days after receipt of such notice (but in no event prior to the expiration or earlier termination of this Paragraph 19(fLease), Tenant shall be a tenant-at-sufferance, responsible for any and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, damages actually and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided reasonably incurred by Law. Nothing in this paragraph shall be construed Landlord as a consent by Landlord result of Tenant’s failure to the possession of so vacate and deliver the Premises by Tenant after or such portion thereof (including the expiration loss of the Term such lease or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseamendment).
Appears in 2 contracts
Sources: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Holding Over. Provided Tenant gives All terms and conditions of the Master Lease shall control in the event that Subtenant fails to yield up immediate possession of the Premises upon the termination or expiration of the Sublease except that any tenancy at sufferance shall include rent charges equal to one hundred fifty percent (150%) of the Base Rent paid hereunder. Notwithstanding the foregoing, the provisions of this Section shall not apply in the event that Subtenant has executed a direct lease for the Premises with Prime Landlord not less that extends Subtenant’s occupancy of the entire Premises after the expiration of this Sublease. If (i) Subtenant remains in possession of the Premises upon the termination of the Master Lease, (ii) Sublandlord returns possession of the Master Premises other than two hundred seventy (270) days advance written notice the Premises (the “Holdover NoticeRemainder Premises”)) to Prime Landlord upon the termination of Master Lease, Tenant shall be permitted and (iii) Sublandlord is responsible to retain pay holdover rent or incurs any costs pursuant to Section 24 of the Master Lease on the Master Premises or on the Premises as a result of Subtenant’s remaining in possession of the Premises after the expiration termination of the Term without any modification of this Master Lease, except then Subtenant shall indemnify Sublandlord for Sublandlord’s indemnity obligations as provided herein, or other written agreement between “Tenant” under the parties Master Lease with respect to the Remainder Premises and the Premises for any claims arising from the Subtenant’s holding over. Subtenant’s liability for a period of up to six (6) months after holdover event for which Sublandlord does not hold over on the Expiration DateRemainder Premises but Subtenant does hold over on the Premises as described in the immediately preceding sentence, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed equal to have been all damages owed to Master Landlord by Sublandlord as Tenant, under Section 22 of the Master Lease, which includes 100% of the holdover rent then due under the Master Lease. Subtenant’s liability for a period of six (6) months. Tenant’s occupancy during such permitted holdover event for which Sublandlord holds over on the Remainder Premises and Subtenant also holds over on the Premises shall be pursuant to all of the terms and conditions of this Lease, except calculated as a prorata percentage interest based upon a formula that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior is equal to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy square footage of the Premises without the express right to do so leased by Subtenant under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession Sublease divided by the square footage of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) total premises that are leased by Sublandlord under its Master Lease with Landlord as of the Base Rent in effect immediately prior to the expiration or termination time of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseindemnification.
Appears in 2 contracts
Sources: Sublease Agreement (Safety Quick Lighting & Fans Corp.), Sublease Agreement (Safety Quick Lighting & Fans Corp.)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”)Upon expiration or earlier termination of this Lease, Tenant shall be permitted to retain promptly vacate the Premises, leaving the Premises in the condition required hereunder. Unless otherwise expressly agreed in writing, if Tenant remains in possession of all or any portion of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term (as this Lease may be extended pursuant to Section 2.2 above) with Landlord’s consent, such possession by Tenant shall be deemed to be a month-to-month tenancy of the space then occupied by Tenant (the “Occupied Space”) terminable by either party, effective on the first day of the month following thirty (30) days’ advance written notice. All provisions of this Lease, except those pertaining to Term and Base Rent, shall apply to the month-to-month tenancy of the Occupied Space. If Tenant holds over with the Landlord’s consent, during any holdover term, Tenant shall pay Base Rent for the Occupied Space in an amount equal to the then applicable fair market rental value for the Occupied Space, but in no event shall Tenant pay at a rate less than the Base Rent payable immediately prior to such holdover term. If Tenant holds over without Landlord’s consent, then during any holdover term, Tenant will pay a proportionate amount of the Base Rent for the Occupied Space at the rate applicable to the Occupied Space in an amount (a) for the first sixty (60) days of holdover, equal to one hundred twenty five percent (125%) of Base Rent for the Occupied Space for the last full calendar month during the regular or extended Lease Term and (b) after the first sixty (60) days of holdover, equal to one hundred fifty percent (150%) of Base Rent for the Occupied Space for the last full calendar month during the regular or extended Lease Term, plus all (c) one hundred percent (100%) of Tenant’s Pro Rata Share of Additional Rent allocable to the Occupied Space, plus (d) any other Rent amounts due under the Lease, but except as specifically otherwise provided for in this Article 21, Tenant shall not be liable for any consequential damages arising from or relating to Landlord’s lost business opportunities or otherwise. Acceptance by Landlord of Rents and/or other amounts due during any period of Tenant’s holdover shall not result in a renewal of this Lease, and otherwise subject to all the covenants and . The provisions of this Lease insofar Article 21 are in addition to and do not affect Landlord’s right of re-entry or any other rights of Landlord hereunder or as otherwise provided by law; provided, however, Tenant’s liability for rental payments in connection with Tenant’s holdover of the same are applicable to such tenancyPremises without consent is limited as stated in this Article 21. Landlord shall give Tenant written notice within ten (10) days after Landlord has a new tenant (“New Tenant”) for the Premises or any portion thereof (“New Tenant Space”). If Tenant remains holds over in possession after termination the New Tenant Space without the consent of this Lease without Landlord, and such holdover causes Landlord to default under, or is otherwise the direct cause of damages suffered by Landlord under the terms of the lease between Landlord and New Tenant with respect to the New Tenant Space, then Tenant shall indemnify Landlord for Landlord’s acquiescence or consentactual out-of-pocket losses, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent costs, damages, and expenses incurred by Landlord to in connection with the possession New Tenant’s lease of the Premises by New Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseSpace.
Appears in 2 contracts
Sources: Lease Agreement (Fisher Communications Inc), Purchase and Sale Agreement (Fisher Communications Inc)
Holding Over. Provided It is hereby agreed that in the event of Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holding over after the expiration of the Term without any modification termination of this Lease, except as provided hereinby lapse of time or otherwise, or other thereafter the tenancy shall be from month to month in the absence of a written agreement between to the parties for a period of up to six (6) months after the Expiration Datecontrary, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in to Landlord a monthly occupancy charge equal to (i) for the amount first sixty (60) days of holdover, one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to monthly Basic Rental payable hereunder for the expiration last lease year, and (ii) for any holdover beyond said sixty (60) days, one hundred fifty percent (150%) of the Term, monthly Basic Rental payable hereunder for the last lease year (plus all other Rent provided for in charges payable by Tenant under this Lease, except that, after the expiration of ) such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer occupancy charges to be effective. After the expiration of such permitted holdover period, or at any other time after payable from the expiration or termination of this Lease during until the end of the calendar month in which Tenant remains the Premises are delivered to Landlord in occupancy the condition required herein. If Landlord shall enter into a new lease or amend an existing lease for premises in the Building for all or a portion of the Premises without at the express right end of the term of this Lease, Landlord shall so notify Tenant and if Tenant fails to do so under vacate and deliver all or such portion of the Premises to Landlord within sixty (60) days after receipt of such notice (but in no event prior to the expiration or earlier termination of this Paragraph 19(fLease), Tenant shall be a tenant-at-sufferance, responsible for any and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, damages actually and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided reasonably incurred by Law. Nothing in this paragraph shall be construed Landlord as a consent by Landlord result of ▇▇▇▇▇▇’s failure to the possession of so vacate and deliver the Premises by Tenant after or such portion thereof (including the expiration loss of the Term such lease or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseamendment).
Appears in 2 contracts
Sources: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Holding Over. Provided 1.4.1. If the Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted continues to retain possession of occupy the Premises after the expiration of the Term without or any modification earlier termination of this LeaseLease after obtaining the Landlord's express, except as provided herein, or other written agreement between consent thereto,
(a) such occupancy shall (unless the parties for a period of up to six (6hereto otherwise agree in writing) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for be under a period month-to-month tenancy, which shall continue until either party hereto notifies the other in writing, by at least thirty (30) days before the end of six any calendar month, that the notifying party elects to terminate such tenancy at the end of such calendar month, in which event such tenancy shall so terminate;
(6b) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of anything contained in the terms and conditions foregoing provisions of this LeaseSection to the contrary notwithstanding, except that Tenant the rental payable for each such monthly period shall pay Base Rent in the amount of one hundred ten equal one-twelfth (110%1/12) of the Base Rent and the Additional Rent payable under the provisions of subsection 2.2 (calculated in effect immediately prior accordance with such provisions of subsection 2.2 as if this Lease had been renewed for a period of twelve (12) full calendar months after such expiration or earlier termination of the Term or such renewal); and
(c) such month-to-month tenancy shall be upon the same terms and subject to the expiration of same conditions as those set forth in the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(fLease; provided, that if the Landlord gives the Tenant, by at least thirty (30) shall no longer days before the end of any calendar month during such month-to-month tenancy, written notice that such terms and conditions (including any thereof relating to the amount or payment of Rent) shall, after such month, be effectivemodified in ___________________ /1// or any extension thereof
1.4.2. After If the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of continues to occupy the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any earlier termination of this Lease by without obtaining the Landlord's express, or written consent thereto, such occupancy shall be on the same terms and subject to the same conditions as an exclusive remedy those set forth in the event provisions of a holdover. There shall be no renewal paragraph 1.
4.1, except that, anything contained in the provisions of this Lease by operation to the contrary notwithstanding, (a) the rental payable during the period of lawsuch occupancy shall equal/2// of the rental which would be payable during such period under the provisions of subparagraph 1.
4.1. This Paragraph 19(f(b), had the Tenant obtained the Landlord's express, written consent to such occupancy, as aforesaid, and (b) shall survive nothing in the termination provisions of paragraph 1.
4.1. or any other provision of this Lease by lapse shall be deemed in any way to alter or impair the Landlord's right immediately to evict the Tenant or exercise its other rights and remedies under the provisions of time this Lease or otherwiseapplicable law on account of the Tenant's occupancy of the Premises without having obtained such consent.
Appears in 2 contracts
Sources: Lease Agreement (Litronic Inc), Lease Agreement (Litronic Inc)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain pay Landlord the greater of (i) one hundred fifty percent (150%) the monthly Rent payable for the month immediately preceding the holding over (including increases for Rent Adjustments which Landlord may reasonably estimate) or, (ii) one hundred fifty percent (150%) the fair market rental value of the Premises as reasonably determined by Landlord for each month or portion thereof that Tenant retains possession of the Premises Premises, or any portion thereof, after the expiration Termination Date (without reduction for any partial month that Tenant retains possession). Tenant shall also pay all damages sustained by Landlord by reason of such retention of possession. The provisions of this Article shall not constitute a waiver by Landlord of any re-entry rights of Landlord and Tenant's continued occupancy of the Premises shall be as a tenancy in sufferance. If Tenant retains possession of the Premises, or any part thereof for thirty (30) days after the Termination Date then at the sole option of Landlord expressed by written notice to Tenant, but not otherwise, such holding over shall constitute an extension of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties Lease for a period of up to six one (61) months after year on the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the same terms and conditions (including those with respect to the payment of Rent) as provided in this Lease, except that Tenant shall pay the Monthly Base Rent for such period shall be equal to the greater of (i) 150% of the Monthly Base Rent payable during the month preceding the Termination Date, or (ii) 150% of the monthly base rent then being quoted by Landlord for similar space in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effectiveBuilding. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.ARTICLE FOURTEEN DAMAGE BY FIRE OR OTHER CASUALTY
Appears in 2 contracts
Sources: Office Lease (Calico Commerce Inc/), Office Lease (Calico Commerce Inc/)
Holding Over. Provided Any holding over by Tenant gives Landlord not less than two hundred seventy after the expiration of the term of this Lease shall be treated as a tenancy at sufferance and shall be on the terms and conditions as set forth in this Lease, as far as applicable except that Tenant shall pay as a use and occupancy charge an amount equal to (270i) days advance written notice 150% of the greater of (x) the “Holdover Notice”)Annual Fixed Rent and Additional Rent calculated (on a daily basis) at the highest rate payable under the terms of this Lease, and (y) the fair market rental value of the Premises, for the period measured from the day on which Tenant’s hold-over commences through and until the earlier of (a) the thirtieth (30th) day thereafter and (b) the day on which Tenant vacates the Premises; and (ii) if such hold-over continues beyond such thirty (30)-day period, 200% of the greater of (x) the Annual Fixed Rent and Additional Rent, calculated in the same manner as provided in clause (i) above, and (y) the fair market rental value of the Premises, for the period measured from the thirty first (31st) day after such hold-over commences through and until 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 Tenant’s hold-over in the Premises after the expiration or prior termination of the term of this Lease. Nothing in the foregoing nor any other term or provision of this Lease shall be permitted deemed to permit Tenant to retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover NoticeLease Term. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent All property which remains in the amount of one hundred ten (110%) of Building or the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time Premises after the expiration or termination of this Lease during which Tenant remains shall be conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in occupancy such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the proceeds of such sale and apply the same, at its option against the expenses of the Premises without sale, the express right cost of moving and storage, any arrears of rent or other charges payable hereunder by Tenant to do so Landlord and any damages to which Landlord may be entitled under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, Lease and until Tenant relinquishes possession of the Premises, Tenant shall pay rent at law and in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseequity.
Appears in 2 contracts
Sources: Lease Agreement (Carbon Black, Inc.), Lease Agreement (Carbon Black, Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy at a rent equal to the greater of (i) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the Term without any modification holdover period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this LeaseLease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, except however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord's acceptance of rent after such holding over with Landlord's written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord's consent as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to the greater of (i) one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided fair market rental (as reasonably determined by Landlord) for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to or (ii) two hundred percent (200%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 2 contracts
Sources: Office Lease (Digital Island Inc), Office Lease (Digital Island Inc)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy If Sub-Subtenant (270directly or through any transferee or other successor- in-interest of Sub-Subtenant) days advance remains in possession of all or any part of the Sub-Sublease Premises after the Sub-Sublease Expiration Date or earlier termination of this Sub-Sublease, such holding over, in the absence of an express written notice (agreement to the “Holdover Notice”)contrary, Tenant shall be permitted on the basis of a tenancy at the sufferance of Sub-Sublandlord. In such event, Sub-Subtenant shall continue to retain possession comply with all of the terms, conditions and covenants of this Sub-Sublease as though the Sub-Sublease Term had continued, except that such tenancy at sufferance shall be terminable by Sub-Sublandlord at any time and Rent shall be paid for each month (or portion thereof) during which Sub-Subtenant holds over in the Sub-Sublease Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or earlier termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f)Sub-Sublease, Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) 150% of the monthly Base Sub-Sublease Rent in effect immediately prior to the expiration or termination of the Lease Termdue under this Sub-Sublease, plus all other amounts that would otherwise have been payable as Additional Rent provided had the Sub-Sublease Term continued through the period of such holding over. If Sub-Subtenant fails to surrender the Sub-Sublease Premises on the Sub-Sublease Expiration Date or earlier termination of this Sub-Sublease, in addition to any other liabilities to Sub-Sublandlord accruing therefrom, Sub-Subtenant shall indemnify and hold Sub-Sublandlord harmless from all loss or liability resulting from such failure, including without limitation (i) any claims of Master Landlord against Sub-Sublandlord for failure to surrender the Sub-Sublease Premises at the time and in this the manner required under the Master Lease or for violating any term of the Master Lease, (ii) any claims of Chinook against Sub-Sublandlord for failure to surrender the Sub-Sublease Premises at the time and otherwise subject to all in the covenants manner required under the Perfect Day Sublease or for violating any term of the Perfect Day Sublease, and (iii) any claims made by any succeeding tenant or other third party based upon such failure. This indemnification obligation shall survive the expiration or earlier termination of this Sub-Sublease. The provisions of this Lease insofar as the same Section 4.11 are applicable in addition to such tenancy. If Tenant remains in possession after termination of and do not limit Sub-Sublandlord’s rights or Sub-Subtenant’s obligations under this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseSub-Sublease.
Appears in 2 contracts
Sources: Sub Sublease (Carmot Therapeutics Inc.), Sub Sublease (Carmot Therapeutics Inc.)
Holding Over. Provided If Tenant gives possesses the Premises after the Term expires or is otherwise terminated without executing a new lease, but with Landlord’s written consent, then Tenant is deemed to be occupying the Premises as a tenant from month-to-month, subject to all provisions, conditions and obligations of this Lease applicable to a month-to-month tenancy and any other reasonable conditions of Landlord’s consent, except that (a) Basic Rent will equal 125% of the Basic Rent payable by Tenant on the last day of the Term for the first three months after the expiration of the Term, and 150% of the Basic Rent payable by Tenant on the last day of the Term for any period thereafter, and (b) either Landlord not less than two hundred seventy (270) days advance or Tenant may terminate the month-to-month tenancy at any time upon 30 days’ prior written notice to the other party. Subject to this Section 16.2, if Tenant possesses the Premises after the Term expires or is otherwise terminated without executing a new lease and without Landlord’s written consent, then Tenant is deemed to be occupying the Premises as a tenant at sufferance (the “Holdover Notice”)for clarity, Tenant shall be permitted not a month-to-month or a year-to-year tenant) without claim of right (but subject to retain all terms and conditions of this Lease) and, in addition to Tenant’s liability for failing to surrender possession of the Premises as provided in Section 16.1, Tenant will pay Landlord a charge for each day of occupancy (i) for the first three months after expiration of the Term at the rate of 125% of Tenant’s then-existing Rent (prorated on a daily basis for each day of such occupancy), and (ii) thereafter beginning with the fourth month after expiration of the Term at the rate of 150% of Tenant’s then-existing Rent (prorated on a daily basis for each day of such occupancy). Notwithstanding. the foregoing, upon written notice delivered to Landlord at least 12 months prior to the end of the Term, Tenant may remain in possession of the Premises for up to three months after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a (such period of up to six (6) months after the Expiration Date, as specifically elected be specified in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover termwritten notice), then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant subject to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) including, without limitation, Tenant’s payment of the Base Rent in effect immediately prior then-existing Basic Rent. To the fullest extent allowable under the Laws (but subject to Section 18.8 with respect to the expiration first 60 days of any holdover), Tenant will indemnify, protect, defend (with counsel reasonably acceptable to Landlord) and hold harmless the Term, plus all other Rent provided for Landlord Parties from and against any Claims resulting from Tenant’s failure or delay in this Lease, except that, after surrendering the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after Premises upon the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after earlier termination of this Lease without Landlord’s acquiescence or written consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing contained in this paragraph shall be construed as a consent by Landlord Section 16.2 will limit Landlord’s right to the possession of lawfully terminate Tenant’s right to possess the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive Tenant holds over in the termination of this Lease by lapse of time or otherwisePremises without Landlord’s written consent.
Appears in 2 contracts
Sources: Sublease, Sublease (Horizon Pharma PLC)
Holding Over. Provided Any holding over by Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (in the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises Premises, or any portion thereof, after the expiration of the Term without any modification of this Lease, except as provided hereinwith or without the consent of Landlord, or other written agreement between shall require Tenant to pay (a) during the parties for a period of up to first six (6) months after the Expiration Dateof such holdover period, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails an amount equal to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to and Additional Rent herein specified for the expiration last month of the TermTerm (prorated on a monthly basis), plus all other Rent provided and (b) for in this Lease, except that, after the expiration any portion of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of after such permitted holdover initial 6-month period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two one hundred fifty percent (200150%) of the Base Rent in effect immediately prior to and Additional Rent herein specified for the expiration or termination last month of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancyTerm (prorated on a monthly basis). If Tenant remains holds over with Landlord’s consent, such occupancy shall be deemed a month-to-month tenancy and such tenancy shall otherwise be on the terms and conditions herein specified in possession after termination of this Lease as far as applicable. Notwithstanding the foregoing provisions or the acceptance by Landlord of any payment by Tenant, any holding over without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant beyond thirty (30) days after the expiration of the Term or any termination of this Lease shall constitute an Event of Default by LandlordTenant under this Lease and shall entitle Landlord to pursue all remedies provided in this Lease, or otherwise, and Tenant shall be liable to Landlord for all direct damages and all Consequential Damages (as an exclusive remedy in the event defined below) incurred and/or suffered by Landlord resulting from Tenant’s holding over without Landlord’s consent; provided, however, following Landlord’s execution of a holdover. There third-party lease which affects the Premises, Landlord shall deliver written notice (the “New Lease Notice”) of such third-party lease to Tenant and the terms of the foregoing regarding liability for and recovery of any Consequential Damages shall not be no renewal effective until the date which is thirty (30) days following the later of this (i) the date Landlord delivers such New Lease by operation of law. This Paragraph 19(fNotice to Tenant, and (ii) shall survive the termination of this Lease by lapse of time or otherwisedate such holdover commences.
Appears in 2 contracts
Sources: Lease Agreement (Fusion-Io, Inc.), Lease Agreement (Fusion-Io, Inc.)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain pay Landlord for each day Tenant retains possession of the Premises or part of them after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseotherwise at the rate (“Holdover Rate”) which shall be One Hundred Fifty Percent (150%) of the amount of the Annual Rent for the last period prior to the date of such termination plus all Rent Adjustments under Article 4, prorated on a daily basis, and also pay all damages sustained by Landlord by reason of such retention; provided, however, if Tenant provides at least six (6) months prior written notice to Landlord of its intention to retain possession of the Premises after the termination of this Lease, then during the first thirty (30) days of any such holdover period, Tenant shall pay Landlord for each day Tenant retains possession of the Premises or part of them after termination of this Lease the amount of the Annual Rent for the last period prior to the date of such termination plus all Rent Adjustments under Article 4, prorated on a daily basis, and Tenant shall not be liable for any damages sustained by Landlord by reason of such retention during such thirty (30) day period. If Landlord gives notice to Tenant of Landlord’s election to such effect, such holding over shall constitute renewal of this Lease for a period from month to month at the Holdover Rate, but if the Landlord does not so elect, no such renewal shall result notwithstanding acceptance by Landlord of any sums due hereunder after such termination; and instead, a tenancy at sufferance at the Holdover Rate shall be deemed to have been created. In any event, no provision of this Article 14 shall be deemed to waive Landlord’s right of reentry or any other right under this Lease or at law.
Appears in 2 contracts
Sources: Lease Agreement (Reata Pharmaceuticals Inc), Lease (Reata Pharmaceuticals Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term without with the express written consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification of this Leasefurther term, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected and in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election case Base Rent shall be deemed to have been for payable at a period monthly rate of six (6i) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to applicable during the expiration last rental period of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of Lease Term under this Lease during which Tenant remains in occupancy for the first (1st) month of any such holdover; (ii) one hundred seventy-five percent (175%) of the Premises without Base Rent applicable during the express right to do so last rental period of the Lease Term under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, Lease for the second (2nd) month of any such holdover; and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to (iii) two hundred percent (200%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease thereafter. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in effect immediately prior such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to (i) one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the first (1st) month of any such holdover; (ii) one hundred seventy-five percent (175%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the second (2nd) month of any such holdover; and (iii) two hundred percent (200%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease (calculated on a per diem basis) thereafter. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord’s express written consent, and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant acknowledges and agrees that the cashing of such check or acceptance of such wire shall be considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and deliver the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all claims made by any succeeding tenant founded upon such failure to vacate and deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Premises, whether before or after expiration of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject shall be considered an action to all enforce the covenants and provisions terms of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession for purposes of the Premises by Tenant after the expiration awarding of the Term or any termination of this Lease by Landlord, or as an exclusive remedy attorney’s fees in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseconnection therewith.
Appears in 2 contracts
Sources: Office Lease (Dermavant Sciences LTD), Office Lease (Dermavant Sciences LTD)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain pay Landlord for each day Tenant retains irregular possession (“Hold Over”) of the Premises or any part thereof after the expiration of the Term without any modification termination of this Lease, except as provided hereinfor hereunder, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise, or of Tenant’s right to possession of the Premises, an amount which is one and a half the amount of Monthly Rent for the first 30-day period in which such possession occurs, and double the amount of Monthly Rent for any period thereafter, calculated as though such period were within the Term, and Tenant shall also be responsible for all other obligations under this lease during any Hold Over period. Nothing contained in this section shall be construed or operate as a waiver of Landlord’s right of re-entry or any other right or remedy of Landlord. No payments of money by Tenant to Landlord after the Term shall reinstate, continue or extend the Term and no extension of this Term shall be valid unless it is otherwise agreed in writing and signed by Landlord and except as provided by Article 27 herein, Tenant hereby waives the provisions contained in Article 1762, 1763 and 1764 of the Civil Code for the State of Tamaulipas (the “Code”) and the provisions contained in Articles 1813 and 1814 of the Code regarding the waiver of the right to extend the Lease beyond the Lease Term and the waiver of the right to continue with the Lease for an indefinite period of time after the expiration of the Lease Term. Furthermore, Tenant will indemnify and hold harmless Landlord against all damages, costs, losses, liabilities, claims and expenses, including attorneys’ fees, which Landlord incurs on account of Tenant’s failure to vacate and surrender the Premises upon termination of this Lease.
Appears in 2 contracts
Sources: Lease Agreement, Industrial Building Lease Agreement (Entorian Technologies Inc)
Holding Over. Provided Tenant gives If possession of the Premises is not surrendered to Landlord not less than two hundred seventy (270) days advance written notice (on the “Holdover Notice”)Expiration Date or earlier 7 termination of this Lease, then Tenant shall pay to Landlord on account of use and occupancy of the 8 Premises, for each month (or any portion thereof) during which Tenant (or a Person claiming by, through 9 or under Tenant) holds over in the Premises after the Expiration Date, an amount equal to the greater of 10 one and one-half (1.5) times: (i) the aggregate Rental that was payable under this Lease during the last 11 month of the Term; and (ii) the then fair market rental value of the Premises plus the monthly Additional 12 Rent that was payable by ▇▇▇▇▇▇ during the last month of the Term. ▇▇▇▇▇▇▇▇'s right to collect such 13 amount from Tenant for use and occupancy shall be permitted in addition to any other rights or remedies that 14 Landlord may have hereunder or at law or in equity. Nothing contained in this Section 23.01 shall permit 15 Tenant to retain possession of the Premises after the expiration Expiration Date, or earlier termination date, or limit 16 in any manner ▇▇▇▇▇▇▇▇'s right to regain possession of the Term without Premises, through summary proceedings or 17 otherwise. ▇▇▇▇▇▇▇▇'s acceptance of any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months payments from Tenant after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover termor earlier 18 termination date, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all on account of the terms and conditions amount to be paid by Tenant in accordance with 19 the provisions of this LeaseSection 23.01. Tenant expressly waives, except for itself and for any person claiming 20 through or under Tenant, any rights that Tenant shall pay Base Rent or any such person may have under the provisions of 21 legal requirements, in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior connection with any holdover summary proceedings that Landlord may institute to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period 22 enforce the foregoing provisions of this Paragraph 19(fArticle. Tenant shall indemnify, defend and hold harmless 24 without limitation, consequential damages), costs and/or expenses (including, without limitation, 25 attorneys' fees and expenses) shall no longer be effective. After resulting from any failure by ▇▇▇▇▇▇ to surrender the expiration of such permitted holdover period, or at any other time after Premises in the expiration or termination of manner 26 and condition required by this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after upon the expiration of the Term or any earlier termination of this Lease Lease, 27 including, without limitation, any claims made by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseany proposed new tenant founded upon such failure.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration of the Term without any modification or earlier termination of this LeaseLease with the express written consent of Landlord, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant a month-to-month tenancy at a rent agreed upon by Landlord and Tenant in writing; provided, however, if Landlord has consented to all the holdover in writing, but Landlord and Tenant did not agree in writing on the rent during the holdover period, the monthly rent during the holdover period shall be the greater of (i) one hundred fifty percent (150%) of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord’s acceptance of rent after such holding over with Landlord’s written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s written consent, Tenant’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to (i) for the first thirty (30) days of such holdover, one hundred ten fifty percent (110150%) of the Base Monthly Rent in effect immediately and one hundred percent (100%) of the Additional Rent payable under this Lease for the last full month prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration date of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination and (ii) for the holdover period from and after the end of this Lease during which Tenant remains in occupancy of the Premises without the express right such thirty (30) day period, such percentage applied to do so under this Paragraph 19(f), Tenant Monthly Rent shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal increase to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise).
Appears in 2 contracts
Sources: Office Lease (Twitter, Inc.), Office Lease (Twitter, Inc.)
Holding Over. Provided (a) If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of any portion of the Premises after the expiration of or the Term without any modification earlier termination of this Lease, except as provided hereinthen, unless City expressly agrees to the Holdover in writing, Tenant will be a tenant at sufferance and Tenant will pay City pay Base Rent equal to one hundred fifty percent (150%) of the latest Base Rent payable by Tenant before the expiration or other written agreement between termination of the parties Lease, [together with one hundred fifty percent (150%) of the Percentage Rent shown in the Basic Lease Information, and ]together with an amount estimated by City for a period of up to six (6) months after the Expiration DateAdditional Charges, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall and will otherwise be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions specified in this Lease so far as applicable (except for those pertaining to the Term and any Extension Options). Any failure by Tenant to surrender, discontinue using, or, if required by City, any failure to remove any property or equipment following written demand by City, will constitute Tenant’s holding over without City’s consent for purposes of this LeaseSection. Tenant acknowledges that the foregoing provisions do not serve as permission for the Tenant to hold over or serve to extend the Term. Any Holdover without City’s consent will constitute a default by Tenant and entitle City to exercise any or all of its remedies, except notwithstanding that Tenant shall pay City may elect to accept one or more payments of Rent, and whether or not the amounts are at the holdover rate specified above or the rate in effect at the end of the Term.
(b) Any holding over after the expiration of the Term with City’s express written consent will be construed to automatically extend the Term on a month-to-month basis at a Base Rent in the amount of equal to one hundred ten fifty percent (110150%) of the latest Base Rent payable by Tenant before the expiration, [together with one hundred fifty percent (150%) of the Percentage Rent shown in effect immediately prior the Basic Lease Information, and ] together with an amount estimated by City for the monthly Additional Charges, and will otherwise be on the terms and conditions specified in this Lease so far as applicable (except for those pertaining to the expiration of the Term, plus all other Rent provided for in Term and any Extension Options).
(c) Tenant’s obligations under this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after Section will survive the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Holding Over. Provided No holding over by Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (past the “Holdover Notice”), Expiration Date shall operate to extend the Term. If Tenant shall be permitted to retain remains in possession of the Premises after the expiration of the Term without any modification or termination of this Lease, except as provided herein, or other written agreement between : (i) Tenant shall become a tenant at sufferance upon all the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the applicable terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of shall be increased to (a) one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to during the expiration last month of the TermTerm for the first month of holdover, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed electedb) holdover period the foregoing provisions of this Paragraph 19(fone hundred fifty percent (150%) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without Base Rent in effect for the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferancelast month of the Term for the second (2nd) through sixth (6th) months of holdover, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to (c) two hundred percent (200%) of the Base Rent in effect immediately prior to during the expiration or termination last month of the Lease TermTerm thereafter; Tenant shall indemnify, plus defend, protect and hold harmless Landlord, the other Indemnitees, and any tenant to whom Landlord has leased all or part of the Premises from Claims (including loss of rent loss to Landlord or additional rent payable by such tenant and reasonable attorneys’ fees) suffered or incurred by Landlord, such other Indemnitees, or such tenant resulting from Tenant’s failure timely to vacate the Premises; and (iii) such holding over by Tenant shall constitute an Event of Default. Landlord’s acceptance of Rent provided for if and after Tenant holds over shall not convert Tenant’s tenancy at sufferance to any other form of tenancy or result in a renewal or extension of the Term of this Lease, and unless otherwise subject specified by written notice from Landlord to all Tenant. Within ten (10) business days after Tenant’s request, Landlord shall provide Tenant a written notice setting forth any leases or other occupancy agreements for the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence Premises or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent any portion thereof entered into by Landlord to the possession as of the Premises by Tenant date of such request and which will commence after the expiration of the Term or any termination term of this Lease by Landlord, or as an exclusive remedy in and for which Landlord may suffer Claims if Tenant fails to timely vacate the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises.
Appears in 2 contracts
Sources: Office Lease (iRhythm Technologies, Inc.), Office Lease (iRhythm Technologies, Inc.)
Holding Over. Provided Should Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (or any subtenant, assignee or other party occupying the “Holdover Notice”Premises by, through, under, or with the permission of Tenant), Tenant shall be permitted fail to retain possession vacate and surrender all or any portion of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the upon expiration or termination of this Lease during which Tenant remains in occupancy or termination of the Premises without the express Tenant’s right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, in the condition required under this Lease, without Landlord’s written consent, Tenant and/or such other parties shall, at Landlord’s option (which option Landlord may elect by notice to Tenant and/or such other parties at any time before or after such expiration or termination and regardless of whether Landlord has accepted rent during any holdover period), become either a tenant at sufferance or a month-to-month tenant upon each and all of the terms herein provided as may be applicable to such a tenancy and any such holding over shall not constitute an extension of this Lease (and any such tenancy shall be a tenancy at sufferance unless and until Landlord exercises the foregoing option to create a month-to-month tenancy). During such holding over, Tenant shall pay rent (and any such other parties shall be jointly and severally obligated to pay) in an amount advance, monthly, Basic Rental, applicable to only those floors where Tenant has held over, at a rate equal to two hundred percent (200%) 125% of the Base Rent rate in effect immediately prior to for the expiration or termination last month of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions Term of this Lease insofar as with respect to the same are applicable first month of the holdover and thereafter at a rate equal to such tenancy150% of the rate in effect for the last month of the Term of the Lease, in addition to, and not in lieu of, all other payments required to be made by Tenant hereunder including but not limited to Tenant’s Proportionate Share of Direct Costs. If Tenant remains in possession after termination of this Lease without The parties agree that it would be impracticable or extremely difficult to fix Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Lawactual damages for such holding over and that the foregoing increase in the rate of Basic Rental for holding over is a fair estimate and liquidation of such actual damages. Nothing contained in this paragraph Article 5 shall be construed as a consent by Landlord to the possession any holding over of the Premises by Tenant after or any other parties, and Landlord expressly reserves the right to require Tenant and/or such other parties to vacate and surrender possession of the Premises to Landlord in the condition required under this Lease upon the expiration or earlier termination of the Term or Tenant’s right to possession, or during any tenancy at sufferance thereafter. Any month-to-month tenancy created hereunder may be terminated by Tenant or Landlord giving the other party at least thirty (30) days notice; provided such notice period shall not prevent Landlord from terminating the right to possession of the Premises earlier based on an Event of Default as provided in Articles 19 and 20. If Landlord provides Tenant with at least thirty (30) days prior written notice that Landlord has a signed lease from a succeeding tenant to lease the Premises, and if Tenant fails to surrender the Premises upon the later of (i) the date of expiration of such thirty (30) day period, or (ii) the date of expiration or termination of this Lease by Landlordand/or Tenant’s right to possession of the Premises, or as an exclusive remedy in the event condition required under this Lease, Tenant agrees to indemnify, defend and hold Landlord harmless from and against all costs, loss, expense or liability relating to or arising out of any claims made by such succeeding tenant with whom Landlord has entered into a holdover. There shall be no renewal lease for all or a portion of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises and related real estate brokers’ claims and attorney’s fees and costs.
Appears in 2 contracts
Sources: Standard Office Lease, Standard Office Lease (Coinstar Inc)
Holding Over. Provided 22.1 Tenant gives acknowledges that it is extremely important that Landlord have substantial advance notice of the date on which Tenant will vacate the Premises, and that if Tenant fails to surrender the Premises or any portion thereof at the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through or under Tenant) does not less than two hundred seventy (270) days advance written notice (immediately surrender the “Holdover Notice”)Premises or any portion thereof upon the expiration or earlier termination of the Lease Term or upon Landlord’s re-entry following an Event of Default, then the rent payable by Tenant hereunder shall be permitted increased to retain possession equal (1) for each of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six first (61st) and second (2nd) months after of such holdover, the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period greater of six (6i) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the fair market rent for the entire Premises, or (ii) one hundred twenty-five percent (125%) of the then fully escalated Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferanceand additional rent, and until Tenant relinquishes possession (2) for each month of holdover thereafter, the Premises, Tenant shall pay rent in an amount equal to greater of (x) two hundred percent (200%) of the fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such rent shall not in effect immediately prior any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all damages, and 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 Tenant’s hold-over in the Premises after the expiration or prior termination of the Lease Term; provided, plus all other Rent provided however, that consequential damages shall be available only if the holdover persists for in this Leasemore than thirty (30) days. Any such holdover shall be deemed to be a tenancy at sufferance and not a tenancy at will. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and otherwise subject nothing contained herein shall be construed to all the covenants and constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after Section 22.1 expressly survive termination of this the Lease without Landlordor of Tenant’s acquiescence or consent, Tenant shall thereupon be subject right to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisepossession.
Appears in 2 contracts
Sources: Office Lease Agreement (IMARA Inc.), Office Lease Agreement (IMARA Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term hereof, with or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification of this Leasefurther term, except as provided herein, or other written agreement between and in such case Base Rent shall be payable at a monthly rate equal to (i) for the parties for a period of up to six first two (62) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Leaseholdover, except that Tenant shall pay Base Rent in the amount of one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to applicable during the expiration last rental period of the Term, plus all other Rent provided Lease Term under this Lease and (ii) for in this Lease, except that, after the expiration remainder of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease. Such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein. Landlord hereby expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in effect immediately this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord's consent, such holding over may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. If Landlord provides Tenant with at least thirty (30) days prior written notice that Landlord has a signed proposal or lease from a succeeding tenant to lease the Premises, and if Tenant fails to surrender the Premises upon the later of (i) the date of expiration of such thirty (30) day period, or (ii) the date of expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, Tenant agrees to protect, indemnify, defend and otherwise subject hold Landlord harmless from all costs (including reasonable attorneys' fees), losses, expenses and liabilities resulting from such failure, including without limitation, claims made by any succeeding tenant and/or real estate brokers in connection with such failure to all the covenants surrender, and provisions of this Lease insofar as the same are applicable any lost profits to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseresulting therefrom.
Appears in 2 contracts
Sources: Office Lease (Websense Inc), Office Lease (Websense Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of the Premises after the expiration termination of the Lease Term without (or any modification of this Leaseextension terms thereof), except as provided hereinunless otherwise agreed in writing, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election possession shall be deemed subject to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to immediate termination by Landlord at any time, and all of the other terms and conditions provisions of this LeaseLease (excluding any expansion or renewal option or other similar right or option) shall be applicable during such holdover period, except that (a) for the first month Tenant is a holdover Tenant, Tenant shall pay Landlord, upon demand, as Base Rent in the for such holdover period, an amount of one hundred ten (110%) equal to 125 percent of the Base Rent in effect immediately prior to on the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferancedate, and until (b) for the second month and any additional month thereafter that Tenant relinquishes possession of the Premisesis in holdover, Tenant shall pay rent in Landlord, upon demand, as Base Rent for such holdover period, an amount equal to two hundred 150 percent (200%) of the Base Rent in effect immediately on the termination date, computed on a monthly basis for each month or part thereof during such holding over. All other payments shall continue under the terms of this Lease. In addition, Tenant shall be liable for all damages incurred by Landlord as a result of such holding over; provided, however, that Landlord provides Tenant with written notice that Landlord is in negotiations with another prospective tenant, and Tenant fails to thereafter surrender the Premises in accordance with this Lease on, or prior to, the date identified in Landlord’s notice. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Paragraph 22 shall not be construed as consent for Tenant to retain possession of the Premises. For purposes of this Paragraph 22, “possession of the Premises” shall continue until, among other things, Tenant has delivered all keys to the expiration or Premises to Landlord, Landlord has complete and total dominion and control over the Premises, and Tenant has completely fulfilled all obligations required of it upon termination of the Lease Term, plus all other Rent provided for as set forth in this Lease, including, without limitation, those concerning the condition and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession repair of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises.
Appears in 1 contract
Sources: Lease Agreement (Systemax Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of the Premises Property or any part thereof after the expiration end of the Term without any modification or termination of this Lease, except as provided herein, or other written agreement between Tenant's right to possession of the parties for Property (it being agreed that Tenant's failure to timely remove all Tenant's Property and all the Required Removables from the Property shall also be considered a period retention of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Property by Tenant’s Holdover Notice fails to elect a permitted holdover term), then such election retention of possession shall be deemed to have been for considered a period of six tenancy "at will" or "sufferance" (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Leasenot a month-to-month tenancy), except that and Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent holding over in an amount equal to the sum of (a) one hundred fifty percent (150%) of the monthly Rent in effect immediately preceding such holding over computed on a monthly basis for each of the first two (2) months or partial months that Tenant remains in possession; plus (b) two hundred percent (200%) of the Base monthly Rent in effect immediately prior to the expiration preceding such holding over computed on a monthly basis for each month or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If partial month that Tenant remains in possession after termination such first two (2) months or partial months. In addition to the payment of the amounts provided above, if Landlord is unable to timely deliver possession of the Property to a third party as a result of Tenant's holdover then Tenant shall be liable to Landlord for all damages including, but not limited to, consequential damages that Landlord suffers 177305.3 050137-31403 6/26/03 Form Retail Lease Agreement 2001.12 from the holdover. In addition, at any time while Tenant remains in possession, Landlord may elect instead, by written notice to Tenant and not otherwise, to have such retention of possession constitute an extension of this Lease without for one (1) year at the greater of (1) the fair market rent for the Property as reasonably determined by Landlord’s acquiescence , or consent(2) one hundred twenty percent (120%) of the Rent during the previous year. The provisions of this Section do not waive Landlord's right of re-entry or right to regain possession by actions at Law or in equity or any other rights hereunder, Tenant and any receipt of payment by Landlord shall thereupon not be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as deemed a consent by Landlord to the Tenant's remaining in possession or be construed as creating or renewing any lease or right of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetenancy between Landlord and Tenant.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord holds over after the expiration of the Lease Term or earlier termination thereof, with or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only, and shall not less than two constitute a renewal hereof or an extension for any further term, and in such case Rent shall be payable at a monthly rate equal to the product of (i) the Rent applicable during the last rental period of the Lease Term under this Lease, and (ii) a percentage equal to one hundred seventy twenty-five percent (270125%) during the first (1st) sixty (60) days advance written notice of such hold over, and one hundred fifty percent (150%) for the “Holdover Notice”)second (2nd) sixty (60) days of such hold over. Thereafter, Tenant Rent shall be permitted payable at a monthly rate equal to retain possession the product of (A) 200% and (B) the greater of (x) the Rent applicable during the last rental period of the Lease Term under this Lease, and (y) the then applicable fair-market rental rate applicable to the Premises as reasonably determined by Landlord. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. For purposes of this Article 16, a holding over shall include, without limitation, (i) Tenant’s remaining in the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or earlier termination of the Lease Term, plus all other Rent provided for as required pursuant to the terms of Section 8.5, above, to remove any Alterations or improvements located within the Premises (including, without limitation, the Improvements) and replace the same as requested by Landlord with building standard tenant improvements and Original Improvements, or (ii) Tenant’s failure to remove items and restore the Premises as required in Article 15, above. Nothing contained in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph Article 16 shall be construed as a consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises by Tenant after to Landlord as provided in this Lease upon the expiration of the Term or any other termination of this Lease Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including, without limiting the generality of the foregoing, any claims made by Landlord, any succeeding tenant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom. A termination or as an exclusive remedy in the event of a holdover. There shall be no non-renewal of this Lease by operation is not intended to be and shall not be deemed to be a breach of law. This Paragraph 19(f) shall survive the termination covenant of this Lease by lapse of time or otherwisegood faith and fair dealing.
Appears in 1 contract
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”)will, Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise, yield up immediate possession of the Premises to Landlord in the condition required under this Lease. If Tenant retains possession of the Premises or any part thereof after such expiration or termination, then Landlord may, at its option, serve written notice upon Tenant that such holding over constitutes (i) creation of a month-to-month tenancy, upon the terms and conditions set forth in this Lease, or (ii) creation of a tenancy at sufferance, upon the terms and conditions set forth in this Lease; provided, however, that the monthly Rent (or daily Rent under (ii)) shall, in addition to all other sums which are to be paid by Tenant hereunder, be equal to one hundred ten percent (110%) of the sum of Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) on the basis of a 365 day year for each day Tenant remains in possession); provided further that, if Landlord shall institute any action, case or suit to recover possession of the Premises (whether styled as an unlawful detainer action or otherwise), the monthly Rent (or daily Rent under (ii)) payable pursuant to the preceding sentence shall increase, effective as of the date on which such action, case or suit is filed with the court, to one hundred fifty percent (150%) of the sum of Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) on the basis of a 365 day year for each day Tenant remains in possession). If no such notice is served, then a tenancy at sufferance shall be deemed to be created at the Rent in the preceding sentence. Tenant shall also pay to Landlord as Additional Rent all damages sustained by Landlord resulting from retention of possession by Tenant, including the loss of any proposed subsequent tenant for any portion of the Premises. The provisions of this Section shall not constitute a waiver by Landlord of any right of re-entry as herein set forth; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord's right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant's part to be performed.
Appears in 1 contract
Holding Over. Provided If Tenant gives provides Landlord not less than two hundred seventy (270) days advance with written notice ("HOLDOVER NOTICE") at least thirty (30) days prior to expiration of the “Lease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, Tenant shall have the right (and, subject to the grace periods described below, the obligation) to hold over after the expiration of the Lease Term until the date ("HOLDOVER NOTICE DATE") specified in such Holdover Notice (but not in excess of one hundred twenty (120) days after the expiration of the Lease Term or applicable Extension Term). Any holdover tenancy (including without limitation, any holdover tenancy pursuant to a Holdover Notice”)) shall be subject to every applicable term, covenant and agreement contained herein, except that the Base Rent payable by Tenant for the Premises (irrespective of the amount of space Tenant continues to occupy in the Building) shall be escalated to equal one hundred ten percent (110%) of the then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days of such holdover occupancy and one hundred twenty-five percent (125%) of such amount during the next succeeding ninety (90) days and from and after such one hundred eighty (180) day period, Rent shall equal one hundred fifty percent (150%) of such amount thereafter; provided, however, subject to the next sentence of this Article 16, such holdover Rent and Additional Rent shall be prorated on a per diem basis through and including the date ("ACTUAL SURRENDER DATE") Tenant actually vacates and surrenders the Premises to Landlord in the condition required under this Lease. If Tenant properly delivers the Holdover Notice and the Actual Surrender Date (a) is earlier than the Holdover Notice Date by forty-five (45) days or less, Tenant's obligation to pay such holdover Rent and Additional Rent shall terminate on a per diem basis as of the Actual Surrender Date, however if the Actual Surrender Date is earlier than forty-five (45) days prior to the Holdover Notice Date, Tenant's holdover Rent and Additional Rent shall cease as of the date which is forty-five (45) days prior to the Holdover Notice Date, or (b) is later than the Holdover Notice Date, Tenant's obligation to pay holdover Rent and Additional Rent shall cease as of the Actual Surrender Date, provided that Tenant shall have no right to holdover beyond the earlier to occur of fifteen (15) days after the Holdover Notice Date or the expiration of the one hundred twenty (120) period specified in the first sentence of this Article 16 above. By way of example only, and not as a limitation upon the foregoing, if the Holdover Notice indicates that the Holdover Notice Date is ninety (90) days after the expiration of the Lease Term or applicable Extension Term, Tenant shall be permitted to retain possession of holdover until the Premises date which is one hundred five (105) days after the expiration of the Lease Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up applicable Extension Term and Tenant's obligation to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted pay holdover term, then such election Rent and Additional Rent shall be deemed to have been for prorated on a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all per diem basis until the later of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten forty-fifth (110%45th) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant day after the expiration of the Lease Term or applicable Extension Term or the Actual Surrender Date. Nothing contained in this Article 16 shall be construed as consent by Landlord to any termination holding over by Tenant (except as expressly provided in this Article 16 above), and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration of the Lease Term (or the period specified in clause 16(b) above, as applicable). The provisions of this Lease by Landlord, Article 16 shall not be deemed to limit or as an exclusive remedy in the event constitute a waiver of a holdover. There shall be no renewal any other rights or remedies of this Lease by operation of Landlord provided herein or at law. This Paragraph 19(fIf PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] Tenant fails to surrender the Premises within the period specified in this Article 16 above, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) shall survive and liability resulting from such failure, including, without limiting the termination generality of this Lease the foregoing, any claims made by lapse any succeeding tenant founded upon such failure to surrender (including such tenant's lost profits) and any lost profits to Landlord resulting therefrom, provided Landlord promptly notified Tenant in writing of time any lease or otherwisesigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Sources: Office Lease (Peregrine Systems Inc)
Holding Over. Provided If Tenant gives shall not immediately surrender the Premises to Landlord not less than two hundred seventy on the Expiration Date or within ten (27010) business days advance written notice of an earlier termination of the Lease (the “Holdover NoticeCommencement Date”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for be a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant month to month tenant upon all of the terms and conditions of this Lease; provided, except that (i) for each of the first thirty (30) days Tenant shall pay holds over after the Holdover Commencement Date, the Base Rent in the amount of one hundred ten (110%) shall be 150% of the Base Rent payable in effect immediately prior to the expiration last year of the TermTerm divided by three hundred sixty-five (365), plus all other Rent provided and (ii) for in this Lease, except that, each day after the expiration thirtieth (30th) day after the Holdover Commencement Date Tenant holds over, the Base Rent shall be 200% of such elected the Base Rent payable in the last year of the Term divided by three hundred sixty-five (or deemed elected365) holdover period the foregoing (each, “Holdover Rent”). The provisions of this Paragraph 19(f) Section 2.4 shall no longer not be effective. After the expiration deemed to limit or constitute a waiver of such permitted holdover period, or at any other time rights or remedies of Landlord provided herein or under Applicable Laws (as defined below). If Tenant shall hold over after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferanceHoldover Commencement Date, and until Tenant relinquishes Landlord shall desire to regain possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, then Landlord may forthwith re-enter and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the take possession of the Premises without process, or by any legal process in force in the Commonwealth of Virginia, and if Tenant holds over for more than thirty (30) days after the expiration Holdover Commencement Date, in addition to paying Holdover Rent, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against any and all claims in any way arising or resulting from or in connection with ▇▇▇▇▇▇’s holding over, including, without limiting the generality of the Term foregoing, the cost of unlawful detainer proceedings instituted by Landlord against Tenant, increased construction costs to Landlord as a result of Landlord’s inability to timely commence construction of tenant improvements for a new occupant for the Premises, lost profits and any other damages that result from ▇▇▇▇▇▇▇▇’s inability to timely deliver the Premises to such occupant, and any claim against Landlord made by any succeeding occupant or prospective occupant. Except as expressly set forth in this Section 2.4, in no event shall Tenant be liable to Landlord or any termination Landlord Related Party for any lost profits, consequential, special, or punitive damages under any other provision of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Sources: Purchase and Sale Agreement (LL Flooring Holdings, Inc.)
Holding Over. Provided (a) If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of any portion of the Premises after the expiration of or the Term without any modification earlier termination of this Lease, except as provided hereinthen unless City expressly agrees to the holdover in writing, or other written agreement between the parties for Tenant will pay City, on a period of up to six (6) months after the Expiration Datemonth-to-month basis, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the latest Base Rent in effect immediately prior to payable by Tenant before the expiration or termination of the Lease TermLease, plus all other Rent provided together with an amount estimated by City for the monthly Additional Charges, and will otherwise be on the terms and conditions specified in this LeaseLease so far as applicable (except for those pertaining to the Term and any Extension Options). Any failure by Tenant to surrender, discontinue using, or, if required by City, any failure to remove any property or equipment following written demand by City, will constitute continuing possession for purposes of this Section. Tenant acknowledges that the foregoing provisions do not serve as permission for the Tenant to hold over, or serve to extend the Term. Any holding over without City’s consent will constitute a default by Tenant and entitle City to exercise any or all of its remedies, notwithstanding that City may elect to accept one or more payments of Rent, and otherwise subject to all whether or not the covenants and provisions of this Lease insofar as amounts are at the same are applicable to such tenancy. If Tenant remains holdover rate specified above or the rate in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to effect at the possession end of the Premises by Tenant Term.
(b) Any holding over after the expiration of the Term with City’s express written consent will be construed to automatically extend the Term on a month-to-month basis at a Base Rent equal to one hundred fifty percent (150%) of the latest Base Rent payable by Tenant before the expiration, together with an amount estimated by City for the monthly Additional Charges, and will otherwise be on the terms and conditions specified in this Lease so far as applicable (except for those pertaining to the Term and any Extension Options).
(c) Tenant’s obligations under this Section will survive the expiration or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Sources: Lease Agreement
Holding Over. Provided 27.1. If, with Landlord’s prior written consent, Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (holds possession of all or any part of the “Holdover Notice”)Premises after the Term, Tenant shall become a tenant from month to month after the expiration or earlier termination of the Term, and in such case Tenant shall continue to pay (a) Base Rent in accordance with Article 7, as adjusted in accordance with Article 8, and (b) any amounts for which Tenant would otherwise be permitted liable under this Lease if the Lease were still in effect, including payments for Tenant’s Adjusted Share of Operating Expenses. Any such month-to-month tenancy shall be subject to retain every other term, covenant and agreement contained herein.
27.2. Notwithstanding the foregoing, if Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without any modification of this LeaseLandlord’s prior written consent, except as provided herein, or other written agreement between the parties for (a) Tenant shall become a period of up tenant at sufferance subject to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant (i) during the first thirty (30) days of any such holdover, the monthly rent shall pay Base Rent in be the amount greater of (W) one hundred ten twenty-five percent (110125%) of fair market rent, as determined by Landlord and (X) one hundred fifty percent (150%) of the Base Rent in effect immediately prior to during the expiration last thirty (30) days of the Term, plus all other Rent provided for in this Lease, except that, Term and (ii) after the expiration first thirty (30) days of any such elected (or deemed elected) holdover period holdover, the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant monthly rent shall be a tenant-at-sufferancethe greater of (Y) one hundred fifty percent (150%) of fair market rent, as determined by Landlord and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to (Z) two hundred percent (200%) of the Base Rent in effect immediately prior to during the last thirty days of the Term, and (b) if such holdover continues for more than thirty (30) days after the expiration or earlier termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, then Tenant shall thereupon be subject liable to summary eviction as provided Landlord for any and all damages suffered by Law. Nothing in this paragraph shall be construed Landlord as a consent by Landlord to the possession result of the Premises by Tenant after the expiration such holdover, including any lost rent or consequential, special and indirect damages (in each case, regardless of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisewhether such damages are foreseeable).
Appears in 1 contract
Sources: Lease (Epizyme, Inc.)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain pay Landlord for each day Tenant retains possession of the Premises or part of them after the expiration of the Term without any modification termination of this Lease, except as provided herein, Lease by lapse of time or other written agreement between otherwise at the parties for a period of up to six rate (6“Holdover Rate”) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election which shall be deemed to have been for a period (i) during the first sixty (60) days of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Leaseholding over, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the Base amount of Annual Rent in effect immediately for the last period prior to the expiration date of such termination plus Tenant’s Proportionate Share of Expenses, Taxes and Insurance Costs under Article 4, (ii) commencing as of the Term, plus all other Rent provided for in this Lease, except that, after the expiration sixty-first (61st) day of such elected holding over, one hundred fifty percent (or deemed elected150%) holdover of the amount of Annual Rent for the last period prior to the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration date of such permitted holdover periodtermination plus Tenant’s Proportionate Share of Expenses, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy Taxes and Insurance Costs under Article 4, and (iii) commencing as of the Premises without the express right to do so under this Paragraph 19(f)ninety-first (91st) day of such holding over, Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base amount of Annual Rent in effect immediately for the last period prior to the expiration or date of such termination plus Tenant’s Proportionate Share of Expenses, Taxes and Insurance Costs under Article 4, prorated on a daily basis. In addition to the payment of the Lease Termamounts provided above, plus all other Rent provided if Tenant fails to vacate the Premises within fifteen (15) days after Landlord notifies Tenant that Landlord has entered into a lease for in this Leasethe Premises or has received a bona fide offer to lease the Premises, and otherwise subject that Landlord will be unable to deliver possession, or perform improvements, due to Tenant’s holdover, then Tenant shall be liable to Landlord for all damages, including, without limitation, consequential damages, that Landlord suffers from the covenants and provisions holdover. If Landlord gives notice to Tenant of this Lease insofar as the same are applicable Landlord’s election to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consenteffect, Tenant such holding over shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no constitute renewal of this Lease for a period from month to month at the Holdover Rate, but if the Landlord does not so elect, no such renewal shall result notwithstanding acceptance by operation Landlord of lawany sums due hereunder after such termination; and instead, a tenancy at sufferance at the Holdover Rate shall be deemed to have been created. This Paragraph 19(f) shall survive the termination In any event, no provision of this Article 14 shall be deemed to waive Landlord’s right of reentry or any other right under this Lease by lapse of time or otherwiseat law.
Appears in 1 contract
Sources: Lease (Ellipse Technologies Inc)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), If Tenant shall be permitted to retain possession of the Premises after Project or any portion thereof without Landlord's consent following the expiration of the Term without Lease or sooner termination for any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover termreason, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent to Landlord, in addition to other amounts due and owing by Tenant under this Lease (calculated as if the Lease Term were extended for the holdover period), for each day of such retention triple the amount of one hundred ten (110%) of the Scheduled Base Rent in effect immediately (prorated on a daily basis) for the first month prior to the date of expiration or termination; provided, however, upon not less than one hundred twenty (120) days written notice from Tenant, and so long as no Material Default has occurred and is continuing, Tenant may request that Tenant retain possession of the Term, plus all other Rent provided Project for in this Lease, except that, after the expiration of such elected either one (1) or deemed electedtwo (2) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after months following the expiration or termination of this the Lease during which Tenant remains in occupancy Term for the sole purpose of completing the removal of the Premises without Subject Alterations in a manner consistent with the express right to do so under this Paragraph 19(f)Demolition Memo, Tenant and the Scheduled Base Rent monthly rental for each month in such one (1) or two (2) month period shall be a tenant-at-sufferance, one hundred and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred fifty percent (200150%) of the Scheduled Base Rent in effect for the month ending immediately prior to the expiration or termination of the Lease Term. Tenant shall also indemnify and hold Landlord harmless from any loss or liability resulting from delay by Tenant in surrendering the Project including, plus all without limitation, any claims made by any succeeding tenant founded on such delay (which indemnity amount shall be reduced by the amount by which holdover Scheduled Base Rent under this ARTICLE 15 which is paid by Tenant exceeds the product of (a) Scheduled Base Rent for the month ending immediately prior to such holdover period, times (b) the number of months in such holdover period. Alternatively, if Landlord gives notice of ▇▇▇▇▇▇▇▇'s consent to ▇▇▇▇▇▇'s holding over, such holding over shall constitute renewal of the Lease on a month-to-month basis, requiring payment of Scheduled Base Rent at the rate provided in this ARTICLE 15 and on the other terms and conditions of this Lease. Acceptance of Rent provided for by Landlord following expiration or termination shall not constitute a renewal of this Lease, and nothing contained in this paragraph shall waive Landlord's right of reentry or any other right. Unless Landlord exercises the option hereby given to it, Tenant shall be only a tenant at sufferance, whether or not Landlord accepts any Rent from Tenant while Tenant is holding over without ▇▇▇▇▇▇▇▇'s written consent. Additionally, in the event that upon termination of the Lease, Tenant has not fulfilled its obligation with respect to repairs and cleanup of the Project or any other Tenant obligations as set forth in this Lease, then Landlord shall have the right to perform any such obligations as it deems necessary at Tenant's sole cost and otherwise subject expense, and any time required by Landlord to all complete such obligations shall be considered a period of holding over and the covenants and terms of this ARTICLE 15 shall apply; provided, however, that with respect to Scheduled Base Rent for such additional holdover period, Tenant shall be credited in full for any Scheduled Base Rent received by Landlord as damages under the provisions of ARTICLE 16 of this Lease insofar as the same are applicable which relate to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseadditional holdover period.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration or earlier termination of this Lease with the express written consent of Landlord, Tenant’s occupancy shall be a month-to-month tenancy at a rent agreed upon by Landlord and Tenant in writing; provided, however, if Landlord has consented to the holdover in writing, but Landlord and Tenant did not agree in writing on the rent during the holdover period, the monthly rent during the holdover period shall be one hundred fifty percent (150%) of the Term without any modification Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration or earlier termination of this Lease, except . Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord’s acceptance of rent after such holding over with Landlord’s written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s consent, Tenant’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to (i) for the first thirty (30) days of such holdover without consent, one hundred ten fifty percent (110150%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration date of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination termination, (ii) for the thirty-first (31st) through sixtieth (60th) days of this Lease any such holdover without consent, the aforementioned percentage shall increase to one hundred seventy percent (175%) and (iii) thereafter during which Tenant remains in occupancy of such holdover without consent, the Premises without the express right to do so under this Paragraph 19(f), Tenant percentage shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal increased to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise).
Appears in 1 contract
Sources: Office Lease (Zscaler, Inc.)
Holding Over. Provided (i) Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain will surrender possession of the Premises after and remove all goods and chattels and other personal property in the expiration possession of Tenant, by whomsoever owned, at the end of the Term without any modification of this Lease, except or at such time as provided hereinLandlord may be entitled to re-enter and take possession of the Premises pursuant to any provision of this Lease, and leave the Premises in good order and condition as required to be kept by Tenant hereunder, ordinary wear, tear, depreciation and damage by any casualty excepted. In default of such surrender of possession and removal of goods and chattels at the time aforesaid, Tenant will pay to Landlord 150% of the rent, during the initial thirty (30) days of holdover and thereafter double the rent reserved by the terms of this Lease for such further period as Tenant either holds over possession of the Premises or allows its goods and chattels or other written agreement between personal property in its possession at such time to remain in the parties for a period Premises, and in addition thereto, all other damages which Landlord shall suffer by reason of up to six (6) months after the Expiration Date, as specifically elected Tenant holding over in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all violation of the terms and conditions provisions of this Lease, except including all reasonable claims for damages made by any succeeding tenant or purchaser, to the extent that such damages are occasioned by the unlawful holding over of Tenant.
(ii) In the event Tenant shall pay Base Rent fails to remove all goods and chattels and other personal property in possession of Tenant, by whomsoever owned, at the amount of one hundred ten (110%) end of the Base Rent in effect immediately prior to the expiration term of the Term, plus all other Rent provided for in this Lease, except that, or within 10 days after the expiration of notice at such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right as Landlord may be entitled to do so under this Paragraph 19(f), Tenant shall be a tenantre-at-sufferance, enter and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the take possession of the Premises pursuant to any provision of this Lease, Tenant hereby irrevocably makes, constitutes and appoints Landlord as the agent and attorney-in-fact of Tenant to remove all goods and other personal property, by whomsoever owned, from the Premises to a reasonably safe place of storage, such moving to be at the sole cost and expense of Tenant, and Tenant after agrees to reimburse and pay to Landlord all reasonable expenses which Landlord incurs for the expiration removal and storage of all such goods and chattels. Alternatively, Landlord may require Tenant to remove at Tenant’s expense all such goods, chattels and other personal property, in which event Tenant shall remove all such goods, chattels and other personal property within three (3) business days of notice from Landlord to remove the same.
(iii) No act or thing done by Landlord shall be deemed an acceptance of the Term or any termination surrender of this Lease the Premises unless Landlord shall execute a written release of Tenant. Tenant’s liability hereunder shall not be terminated by Landlord, or as an exclusive remedy in the event execution by Landlord of a holdover. There shall be no renewal new lease of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration or earlier termination of this Lease with the express written consent of Landlord, Tenant's occupancy shall be a month-to-month tenancy at a rent agreed upon by Landlord and Tenant, but in no event less than the greater of (i) one hundred fifty percent (150%) of the Term without any modification Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease, except Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease, except that Tenant shall pay Base Rent any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the amount Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord's acceptance of one hundred ten (110%) rent after such holding over with Landlord's written consent shall not result in any other tenancy or in a renewal of the Base Rent in effect immediately prior to the expiration original term of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s acquiescence or 's consent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall thereupon be subject to summary eviction pay as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord Monthly Rent during the holdover period an amount equal to the possession greater of (i) one hundred fifty percent (150%) of the fair market rental (as reasonably determined by Landlord) for the Premises by Tenant after the expiration or (ii) one hundred seventy five percent (175%) of the Term or any termination of Monthly Rent and Additional Rent payable under this Lease by Landlord, for the last full month prior to the date of such expiration or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 1 contract
Sources: Office Lease (Ask Jeeves Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of possesses the Premises after the expiration Term expires or is otherwise terminated without executing a new lease but with Landlord’s written consent, Tenant is deemed to be occupying the Premises as a tenant from month-to-month, subject to all provisions, conditions and obligations of this Lease applicable to a month-to-month tenancy, except that (a) Basic Rent will equal the greater of Basic Rent payable by Tenant in the last Lease Year of the Term without or Landlord’s then current basic rent for the Premises according to Landlord’s rental rate schedule for prospective tenants, and (b) either Landlord or Tenant may terminate the month-to-month tenancy at any modification of this Lease, except as provided herein, or time upon 30 days prior written notice to the other written agreement between party. If Tenant possesses the parties for a period of up to six (6) months Premises after the Expiration DateTerm expires or is otherwise terminated without executing a new lease and without Landlord’s written consent, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be Tenant is deemed to have been for a period be occupying the Premises without claim of six right (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant but subject to all of the terms and conditions of this Lease) and, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) addition to Tenant’s liability for failing to surrender possession of the Base Rent Premises as provided in effect immediately prior to the Section 16.1, Tenant will pay Landlord a charge for each day of occupancy after expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent Term in an amount equal to two 150% of Tenant’s then existing Rent. Notwithstanding anything in this Section 16.2 to the contrary, upon twelve (12) months prior written notice (“Tenant’s Holdover Notice”) to Landlord, Tenant will be permitted to remain in possession of the Premises after expiration of the initial Term or any Renewal Term of this Lease (and the Term of the Lease shall be deemed to be so extended), and without the execution of a new lease, subject to all the provisions, conditions, and obligations of this Lease, except that (a) the Basic Rent will be escalated to one hundred twenty-five percent (200125%) of the Base Basic Rent in effect immediately prior to during the expiration or termination last Lease Year of the Lease Term, plus all other Rent provided for in this Leaseapplicable term, and otherwise subject to all (b) the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If holdover term during which Tenant remains may remain in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration will be a term, not to exceed six (6) months, as such term will be stated in Tenant’s Holdover Notice. Time is of the Term or any termination essence with respect to the period during which Tenant must deliver Tenant’s Holdover Notice and to the term of this Lease by Landlord, or as an exclusive remedy in the event of a Tenant’s holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Office Lease Agreement (Royal Caribbean Cruises LTD)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written Unless earlier terminated in accordance with this Lease or duly extended in accordance with this Lease, this Lease shall terminate without further notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after at the expiration of the Term without any modification Lease Term. Any holding over by Tenant after termination of this Lease, except as provided herein, Lease shall not constitute a renewal or other written agreement between extension of the parties for a period Lease or give Tenant any rights in or to the Leased Premises. Any holding over after such expiration with the consent of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election Landlord shall be deemed construed to have been for be a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant tenancy from month to all of month on the same terms and conditions of this Lease, herein specified insofar as applicable except that Tenant the monthly rent shall pay Base Rent in equal one twelfth (1/12) of the amount higher of one hundred ten fifty percent (110150%) of the Base Annual Rent in effect immediately during the last month prior to such termination or the then current Fair Market Rent. The current Fair Market Rent shall be determined by agreement between Landlord and Tenant within thirty (30) days following the expiration of the Lease Term, plus all other Rent provided for in this Lease, except that, after . In the expiration absence of such elected agreement as to the Fair Market Rent, it shall be determined as follows:
(or deemed electeda) holdover period Each party shall appoint an Appraiser within fifteen (15) days after notice of failure to agree given by one party to the foregoing provisions of this Paragraph 19(f) other, and shall no longer be effective. After advise the expiration other party of such permitted holdover periodappointment. On the failure of either party so to appoint an Appraiser, or at any and to advise the other time after party of such appointment, the expiration or termination of this Lease during which Tenant remains person who has been appointed as Appraiser may appoint a second Appraiser to represent the party in occupancy default.
(b) The two (2) Appraisers appointed in either manner shall then proceed to establish the Base Annual Rent for each month of the Premises without hold over period. In the express right event of their inability to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession agree upon the Base Annual Rent for each month of the Premiseshold over period within thirty (30) days after their appointment, Tenant then Landlord shall pay rent in appoint a third Appraiser, provided however, that if the difference between the amounts respectively determined by the two (2) Appraisers is not greater than an amount equal to two hundred ten percent (20010%) of the Base Rent in effect immediately prior to the expiration or termination higher of the Lease Termtwo (2) amounts so determined, plus all other then the Base Annual Rent provided for each month of the hold over period in this Leasequestion shall be the mean of such two amounts, and otherwise subject it shall not be necessary to all appoint a third (3rd Appraiser). In the covenants and provisions event that Landlord fails to appoint a third (3rd) Appraiser within fifteen (15) days, then, in such event, the two Appraisers appointed by the parties pursuant to 15.2(a) above shall, by agreement, appoint the third Appraiser. LOT B
(c) In the event a third Appraiser is appointed, such Appraiser's determination of this Lease insofar Base Annual Rent for each month of the hold over period shall be final so long as it is within the same are applicable limits of the appraisals established by the Appraisers appointed by the parties pursuant to such tenancy15.2(a) above. If Tenant remains in possession after termination the third Appraiser's appraisal is not within such limits, the determination of this Lease without Landlord’s acquiescence or consent, Base Annual Rent made by an Appraiser appointed pursuant to 15.2(a) above which is the closest to that of the third Appraiser shall control.
(d) Landlord and Tenant shall thereupon be subject to summary eviction as provided divide equally the charges imposed by Law. Nothing in Appraisers selected under this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise15.2.
Appears in 1 contract
Sources: Lease Agreement (Corporate Office Properties Trust Inc)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises Any holding over after the expiration of the Term Term, without any modification the express written consent of Landlord, shall constitute a Default and, without limiting Landlord’s remedies provided in this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election holding over shall be deemed construed to have been for be a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant tenancy at sufferance, at a rental rate equal to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten fifty percent (110150%) of the Base Rent last due under this Lease, plus Additional Rent, and shall otherwise be on the terms and conditions herein specified, so far as applicable; provided, however, in effect immediately prior no event shall any renewal or expansion option, option to purchase, or other similar right or option contained in this Lease be deemed applicable to any such tenancy at sufferance. Notwithstanding the expiration foregoing, with ▇▇▇▇▇▇▇▇’s consent, which consent will not be unreasonably withheld, conditioned or delayed, Tenant shall have the right to holdover in the Premises for up to ninety (90) days and at a rate equal to one hundred fifty percent (150%) of the last month’s Base Rent, plus Additional Rent, during the Term. If the Premises are not surrendered at the end of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or sooner termination of this Lease during which or the extension period contemplated by the prior sentence, and in accordance with the provisions of Paragraphs 11 and 32(e), and Landlord has notified Tenant remains that Tenant’s failure to timely vacate the Premises will adversely affect Landlord’s ability to deliver the Premises (or any portion thereof) to an incoming Tenant, then Tenant shall indemnify, protect, defend and hold Landlord harmless from and against any and all loss or liability resulting from delay by ▇▇▇▇▇▇ in occupancy so timely surrendering the Premises, including, but not limited to, any loss or liability resulting from any claim against Landlord made by any succeeding tenant or prospective tenant founded on or resulting from such delay and losses to Landlord due to lost opportunities to lease all or any portion of the Premises without the express right to do so under this Paragraph 19(f)any such succeeding tenant or prospective tenant, Tenant shall be a tenant-at-sufferancetogether with, in each case, actual attorneys’ fees and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisecosts.
Appears in 1 contract
Sources: Lease Agreement (Zynex Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of the Premises after the termination or expiration of the Term without Lease Term, then Tenant shall, at Landlord’s election become a tenant at sufferance (and not a tenant at will), such possession shall be subject to immediate termination by Landlord at any modification time, and all of the other terms and provisions of this Lease (excluding any expansion or renewal option or other similar right or option) shall be applicable during such holdover period, except that in addition to any other rights or remedies Landlord may have hereunder or at law, for each day during which Tenant holds over in the Premises after the Expiration Date or sooner termination of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in to Landlord a holdover charge, computed on a monthly basis for each month or part thereof during such holding over, as follows: (a) for the first thirty (30) days of said holdover period, an amount of equal to one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior on the termination or expiration date; and (b) if such holdover continues for more than thirty (30) days after the Expiration Date or sooner termination of this Lease, an amount equal to 200% of the expiration Base Rent and Additional Rent payable under this Lease for the last full calendar month of the Term. In addition, plus all other Rent provided if such holdover continues for in more than thirty (30) days after the Expiration Date or sooner termination of this Lease, Tenant shall indemnify and hold harmless Landlord for all claims, liabilities, obligations and damages incurred by Landlord arising out of or resulting from such holding over. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except thatas otherwise expressly provided, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of and this Paragraph 19(f) shall no longer not be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which construed as consent for Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes retain possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Sublease (Karuna Therapeutics, Inc.)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant 3.3.1 Nothing in this Lease shall be permitted deemed in any way to retain possession of permit Tenant to use or occupy the Premises after the expiration of the Term without or any modification earlier termination of this Lease. If and only if ▇▇▇▇▇▇ continues to occupy the Premises after such expiration or termination after obtaining Landlord’s express, except as provided herein, or other written agreement between consent thereto,
(a) such occupancy shall (unless the parties for a period of up to six (6hereto otherwise agree in writing) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been be under a month-to-month tenancy, which shall continue until either party hereto notifies the other in writing, by at least thirty (30) days before the end of any calendar month, that the party giving such notice elects to terminate such tenancy at the end of such calendar month, in which event such tenancy shall so terminate;
(b) subject to the provisions of subparagraph 3.3.1(c), but anything in the remaining provisions of this Section to the contrary notwithstanding, the Annual Rent payable with respect to each such monthly period shall equal one twelfth (1/12) of the Annual Rent for a period the Lease Year then in effect or the last Lease Year of six the Term, as applicable, during which such expiration or termination occurred, as aforesaid, and the Additional Rent shall continue to be payable under Section 4; and
(6c) months. Tenant’s occupancy during such permitted holdover month-to-month tenancy shall be pursuant to all of on the same terms and subject to the same conditions of as those set forth in this Lease, except that Tenant shall pay Base Rent in if Landlord gives Tenant, by at least thirty (30) days before the end of any calendar month during such month-to-month tenancy, written notice that such terms and conditions (including any thereof relating to the amount and payment of one hundred ten (110%Rent) of shall, after such month, be modified in any manner specified in such notice, then such tenancy shall, after such month, be on the Base Rent in effect immediately prior said terms and subject to the expiration of the Termsaid conditions, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which as so modified.
3.3.2 If Tenant remains in occupancy of continues to occupy the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any earlier termination of this Lease by without having obtained Landlord’s express, written consent thereto, then without altering or as an exclusive remedy in the event impairing any of a holdover. There shall be no renewal of Landlord’s rights under this Lease or applicable law, (a) Tenant hereby agrees to pay to Landlord immediately on demand by operation Landlord as holdover rental (“Holdover Rent”) for the Premises, for each calendar month or portion thereof after such expiration of law. This Paragraph 19(f) shall survive the Term or such earlier termination of this Lease, as aforesaid, until ▇▇▇▇▇▇ surrenders possession of the Premises to Landlord, a sum equaling the Annual Rent plus Fifty and 00/100 Dollars ($50.00) per each day of such holdover occupancy, and (b) Tenant shall surrender possession of the Premises to Landlord immediately on Landlord’s having demanded the same. Nothing in this Lease by lapse shall be deemed in any way to give Tenant any right to remain in possession of time the Premises after such expiration or otherwise.termination, regardless of whether Tenant has paid any such Holdover Rent to Landlord, without ▇▇▇▇▇▇▇▇’s express written approval
Appears in 1 contract
Sources: Ground Lease
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term or earlier termination thereof, with or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification further term, and in such case Base Rent shall be payable at a monthly rate (the "HOLD OVER BASE RENT") equal to one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease; provided, except as provided however, for the first thirty (30) days only following the expiration or earlier termination of the Lease Term, Tenant shall not be required to pay Hold Over Base Rent applicable to any full floor of the Building completely vacated and surrendered to Landlord pursuant to the terms and conditions of Article 15, above; provided, further, however, following the expiration of such 30-day period, if Tenant continues its hold over in any portion of the Premises, then Tenant shall be required to pay Hold Over Base Rent applicable to the entire Premises. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. Notwithstanding the foregoing, Original Tenant and any Permitted Transferee (but only to the extent such Permitted Transferee has, in Landlord's reasonable determination, financial strength equal to or other written agreement between greater than Original Tenant) shall have the parties one-time right, upon notice (the "HOLDOVER NOTICE") to Landlord not less than twelve (12) months prior to the expiration of the then Lease Term, to extend the Lease Term for a period of up to six (6) months after (the Expiration Date"PERMITTED HOLDOVER TERM"), as specifically elected in which case the Rent payable by Tenant during such Permitted Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election Term shall be deemed to have been for a equal the product of (A) the Rent applicable during the last monthly rental period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of Lease Term under this Lease, except that Tenant shall pay Base Rent in the amount of and (B) a percentage equal to one hundred ten percent (110100%) of during the Base Rent in effect first three (3) months immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after following the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or earlier termination of the Lease Term, plus all and one hundred fifty percent (150%) thereafter. The right of Tenant to extend the Lease Term as provided in this Article 16 may not be exercised if, as of the date Tenant delivers the Holdover Notice to Landlord, or as of the commencement of such Permitted Holdover Term, Tenant is in material or economic default under this Lease (beyond any applicable notice and cure periods) or if Tenant has previously been in material or economic default under this Lease (beyond any applicable notice and cure periods) more than twice during the previous twelve (12) month period. Except with respect to the Permitted Holdover Term, nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or other Rent termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Except as otherwise specifically provided for in this LeaseArticle 16 with regard to a Permitted Holdover Term, and otherwise subject if Tenant fails to all surrender the covenants and provisions Premises upon the termination or expiration of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence (or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after upon the expiration of the Term or Permitted Holdover Term, if any), in addition to any termination other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such failure, including, without limiting the generality of this Lease the foregoing, any claims made by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseany succeeding tenant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom.
Appears in 1 contract
Sources: Office Lease (Fair Isaac Corp)
Holding Over. Provided In the event of holding over by Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (after expiration or tars~lnatlon of this lease Nlthout the “Holdover Notice”)pclor weltten consent of Landlord, Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Datepay, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover termliquidated damages, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten fifty percent (110%150X) of the Base Rent in effect immediately prior nonthly rental (including all tase Rental and Tenant's Additional Rental) Nhich was due end peyable l~ediately pclor to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all for the covenants and provisions of this Lease insofar as the same are applicable to such tenancyentire holdover period. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises Ro holdine over by Tenant after the expiration of the Term or any termination term of this Lease by Landlord, or as an exclusive remedy in lease ahall be construed to extend the lease; In the event of a holdover. There eny unauthorized holding over, Tenant shall be no renewal also Indemnify Landlord against all claims or de~agea by eny other tenant to whon Landlord a~ay have leased all or any part of this Lease by operation of law. This Paragraph 19(f) shall survive the leased premises effective upon the termination of this Lease by lapse lease. Any holding over with the prior consent of time Landlord in writing shall thereafter constitute thla lease e Lees▇ ▇▇▇m e;onth-to-month any holding over without the prior consent of Landlord In writing shall create a temncy at sufferance relationship with Tenant. As used in this lease, the tera aMarket Base Rental Rate" shall _an the annual rental rates then being charged in the "North Belt" area of Houston, Texas, for space comparable to the space for which the Market Base Rental Rate is being determined (taking Into consideration age, use, location and/or floor level within the applicable building, definition of net rentable area leasehold The Borrower hereby covenants and agrees that, so long as any Lender shall have any Commitment hereunder, or otherwise.any Revolving Loan or other Obligation shall remain unpaid or unsatisfied, unless the Majority Lenders waive compliance in writing:
Appears in 1 contract
Holding Over. Provided 22.1 Tenant gives acknowledges that it is extremely important that Landlord have substantial advance notice in the event Tenant will not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of vacate the Premises after the upon expiration of the Term without any modification of this LeaseLease Term, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice and acknowledges that if ▇▇▇▇▇▇ fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of surrender the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (Premises or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or any portion thereof at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or earlier termination of the Lease Term, plus then it will be presumed that the value to Tenant of remaining in possession, and the loss that will be suffered by Landlord as a result thereof, far exceed the Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore, if Tenant (or anyone claiming through Tenant) does not immediately surrender full possession of the Premises or any portion thereof upon the expiration or earlier termination of the Lease Term in the condition required by this Lease, then the holdover fee payable by Tenant hereunder for each month or partial month of such holdover shall equal the greater of (i) the fair market rent for the entire Premises, or (ii) one hundred fifty percent (150%) of the Base Rent, Tenant’s Proportionate Share of Operating Charges and Tenant’s Proportionate Share of Real Estate Taxes, other additional rent and other sums that would have been payable pursuant to the provisions of this Lease if the Lease Term had continued during such holdover period (collectively, “Holdover Rent”). Such Holdover Rent shall be computed by Landlord and paid by ▇▇▇▇▇▇ on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises has been vacated and full possession thereof surrendered by Tenant to Landlord in the condition required under this Lease. Notwithstanding any other provision of this Lease, Landlord’s acceptance of such holdover fee shall not in any manner adversely affect Landlord’s other rights and remedies, including Landlord’s right to evict Tenant and to recover all other Rent damages, provided that ▇▇▇▇▇▇▇▇’s sole and exclusive remedy on account of ▇▇▇▇▇▇’s holdover in the Premises for a period of not greater than sixty (60) days shall be Holdover Rent. Any such holdover shall be deemed to be a tenancy-at-sufferance and not a tenancy-at-will or tenancy from month-to-month. In no event shall any holdover be deemed a permitted extension or renewal of the Lease Term, and nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. For purposes hereof, Tenant shall be deemed to have surrendered the Premises notwithstanding Tenant’s failure to comply with ▇▇▇▇▇▇’s removal obligations set forth in this Lease, if and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord only to the extent that such failure is the result of Tenant’s failure to remove one or more items of a non-material nature in the aggregate that do not adversely interfere in any material respect with the surrender of possession of the entire Premises to Landlord or the entry, work activities, or use of the Premises by Tenant after Landlord or the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdovernext tenant thereof. There Any such item(s) shall be no renewal of this Lease deemed abandoned and subject to removal by operation of law. This Paragraph 19(f) shall survive Landlord at Tenant’s expense in accordance with the termination of this Lease by lapse of time or otherwiseterms hereof.
Appears in 1 contract
Sources: Office Lease Agreement (PTC Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration Term expires or is otherwise terminated without executing a new lease but with Landlord’s prior written consent, then unless provided otherwise by Landlord in such written consent (a) Tenant is deemed to be occupying the Premises as a tenant from month-to-month, subject to all provisions, conditions and obligations of this Lease applicable to a month-to-month tenancy, (b) Basic Rent during the holdover period will equal 125% of the greater of the Basic Rent payable by Tenant in the last year of the Term without any modification of this Leaseor Landlord’s then current basic rent for the Premises according to Landlord’s rental rate schedule for prospective tenants, except as provided herein, or other written agreement between the parties for a period of up to six (6c) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant will also pay Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period Share of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms Property Expenses and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Additional Rent provided for in this Lease, except that, after the expiration of applicable to such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for as described in this Lease, and otherwise subject (d) either Landlord or Tenant may terminate the month-to-month tenancy at any time upon 30 days prior written notice to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancyother party. If Tenant remains in possession of the Premises after termination of this Lease the Term expires or is otherwise terminated without executing a new lease and without Landlord’s acquiescence or prior written consent, then Tenant shall thereupon is deemed to be occupying the Premises without claim of right (but subject to summary eviction as provided by Law. Nothing all provisions, conditions and obligations of this Lease) and, in this paragraph shall be construed as a consent by Landlord addition to the Tenant’s liability for failing to surrender possession of the Premises as provided in Section 16.1 and all other rights and remedies of Landlord related to such holding over, Tenant will pay Landlord a charge for each day of occupancy after the Term in an amount equal to 200% of the Basic Rent payable by Tenant after in the expiration last year of the Term or any termination (on a daily basis), plus Tenant’s Share of Property Expenses and all other Additional Rent applicable to such holdover period as described in this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Sources: Multi Tenant Lease Agreement (SXC Health Solutions Corp.)
Holding Over. Provided (a) In the event of any holding-over by Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy without the consent of Landlord, such holdover tenancy shall be upon all of the terms of this Lease as applied during the Term except that Landlord shall not be required to perform any work, furnish any materials or make any repairs within the Premises without during the express right to do so under this Paragraph 19(f), holdover tenancy and except that Tenant shall:
(i) pay as Base Rent for each month of the holdover tenancy (which shall be a tenant-at-sufferance, in addition to all Additional Rent including the Additional Rent payable under Article 4 and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in Tenant’s Electricity Payment) an amount equal to two hundred percent the Applicable Percentage of the greater of (200%x) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) and (y) the Base Rent in effect which Tenant was obligated to pay for the month immediately prior to preceding the expiration or termination end of the Lease Term; and
(ii) if such holding over shall extend for more than one hundred eighty (180), plus all other Rent provided be liable to Landlord for in this Lease, and otherwise subject (x) any payment or rent concession which Landlord may be required to all the covenants and provisions of this Lease insofar as the same are applicable make or give to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent any tenant obtained by Landlord to the possession for all or any part of the Premises (a “New Tenant”) in order to induce such New Tenant not to terminate its lease by reason of the holding-over by Tenant after or otherwise as a result of such holding-over by Tenant and (y) the expiration loss of the Term or benefit of the bargain if any termination New Tenant shall terminate its lease by reason of this Lease the holding-over by LandlordTenant. “Applicable Percentage” means (A) 150% for the first thirty (30) days of any holdover, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(fand (B) shall survive the termination of this Lease by lapse of time or otherwise200% thereafter.
Appears in 1 contract
Sources: Lease (KCG Holdings, Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term without with the express written consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification further term, and in such case Base Rent shall be payable (a) for the first month of such holding over, at a monthly rate of […***…] of the Base Rent applicable during the last rental period of the Lease Term under this Lease, except (b) thereafter, at a monthly rate of […***…] of the Base Rent applicable during the last rental period of the Lease Term under this Lease. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to the greater of (i) either (x) for the first month of such holding over, […***…], and (x) thereafter […***…] of the Base Rent applicable during the last rental period of the Lease Term under this Lease (calculated on a per diem basis) or (ii) the fair market rental rate for the Premises as provided hereinof the commencement of such holdover period. Notwithstanding the foregoing, or other Tenant shall have the one-time right, upon written agreement between notice (the parties "Permitted Holdover Notice") to Landlord not less than twelve (12) months prior to the expiration of the then Lease Term, to extend the Lease Term for a period of up to six […***…] (6as so designated, the "Permitted Holdover Term"), in which case the Rent payable by Tenant during such Permitted Holdover Term shall equal (i) […***…] of the Rent applicable during the last rental period of the Lease Term under this Lease for the first […***…] months after of such Permitted Holdover Term, (ii) […***…] of the Expiration DateRent applicable during the last rental period of the Lease Term under this Lease for the next occurring […***…] of such Permitted Holdover Term (i.e., months 3, 4 and 5), and (iii) […***…] of the Rent applicable during the last rental period of the Lease Term under this Lease thereafter; provided, however, that Tenant may terminate the Permitted Holdover Term at any time upon thirty (30) days' prior notice to Landlord. Subject only to a properly effectuated Permitted Holdover Term, nothing otherwise contained in this Article 16 shall be construed as specifically elected consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in such Holdover Noticethis Lease upon the expiration or other termination of this Lease. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election The provisions of this Article 16 shall not be deemed to have been limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord's express written consent (or Landlord's deemed consent in connection with a Permitted Holdover Term), and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a period lock box) or wire transfer, Tenant acknowledges and agrees that the cashing of six (6) months. Tenant’s occupancy during such permitted holdover check or acceptance of such wire shall be pursuant considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to all of Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord's express written consent (or Landlord's deemed consent in connection with a Permitted Holdover Term) may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the terms Premises. Therefore, if Tenant fails to vacate and conditions deliver the Premises upon the termination or expiration of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior addition to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right liabilities to do so under this Paragraph 19(f)Landlord accruing therefrom, Tenant shall be a tenant-at-sufferanceprotect, defend, indemnify and hold Landlord harmless from and against all claims made by any succeeding tenant founded upon such ./ -/// -40- ▇▇▇▇▇▇ REALTY, L.P. [ACADIA Pharmaceuticals Inc.] failure to vacate and deliver, and until any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver (collectively, "Holdover Damages"); provided, however, that in no event shall Tenant relinquishes be liable for Holdover Damages attributable to any Permitted Holdover Term. Tenant agrees that any proceedings necessary to recover possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the whether before or after expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject shall be considered an action to all enforce the covenants and provisions terms of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession for purposes of the Premises by Tenant after the expiration awarding of the Term or any termination of this Lease by Landlord, or as an exclusive remedy attorney's fees in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseconnection therewith.
Appears in 1 contract
Holding Over. Provided Tenant gives shall vacate the Premises upon the expiration of the Lease Term or earlier termination of this Lease in the condition required under Section 6.06. If the Tenant holds over after expiration of the Lease Term, Extension Term(s), or earlier termination of this Lease, then Tenant shall pay Rent to Landlord not less than two monthly for the first month of such hold over in an amount equal to the Additional Rent and Shell Rent at a rate equal to one hundred seventy twenty-five percent (270125%) of the Shell Rent in effect as of the month immediately preceding such hold over for the first four (4) months, and thereafter Tenant shall pay Rent to Landlord monthly starting on the fifth (5th) month of such hold over in an amount equal to the Additional Rent and Shell Rent at a rate equal to one hundred fifty percent (150%) of the Shell Rent in effect as of the month immediately preceding such hold over, and Tenant shall reimburse Landlord for and defend and indemnify Landlord against all Claims (as hereinafter defined) which Landlord incurs from Tenant’s delay in vacating the Premises on or before the date which is ninety (90) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification Lease Term, Extension Term(s), or earlier termination of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected Lease in such Holdover Noticeaccordance with Applicable Laws. If Tenant does not vacate the Premises upon the expiration of the Lease Term or earlier termination of the Lease in accordance with the terms of this Lease and Landlord thereafter accepts Rent from Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover of the Premises shall be pursuant a “month to month” tenancy, subject to all of the terms and conditions of this Lease, except that other than the payment of Base Rent, which shall be paid on a monthly basis as set forth above, and Landlord and Tenant shall pay Base each have the right to terminate this Lease and Tenant’s right to occupy the Premises on thirty (30) days’ written notice. Acceptance by Landlord of any Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or earlier termination of this Lease during which Tenant remains shall not constitute a consent to a hold over hereunder or result in occupancy a renewal of the Premises without Lease or any lease and nothing in this Section 2.05 shall limit or restrict Landlord from pursuing any remedies against Tenant for failure to timely vacate the express right to do so under this Paragraph 19(f)Premises. For the avoidance of doubt, Tenant shall also be a tenant-at-sufferance, and until Tenant relinquishes possession of responsible to pay Additional Rent during the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisehold over period.
Appears in 1 contract
Holding Over. Provided 21.1 In the event that Tenant gives Landlord shall not less than two hundred seventy immediately surrender the Premises on the date of the expiration of the Lease Term, Tenant shall become a tenant by the month. During the first sixty (27060) days advance written notice of such holdover period, Tenant shall pay a rent equal to one hundred twenty-five percent (125%) of the “Holdover Notice”)base rent and all additional rent in effect during the last month of the Lease Term. In the event such holdover period extends beyond sixty (60) days, then the rent shall be adjusted, retroactively to the first day of the holdover period, to equal the greater of (i) one hundred ten percent (110%) of fair market rental value for the Premises in its then-existing condition or (ii) one hundred twenty-five percent (125%) of the base rent and all additional rent in effect during the last month of the Lease Term. Said monthly tenancy shall commence on the first day following the expiration of the Lease Term. As a monthly tenant, Tenant shall be permitted subject to retain possession all the terms, conditions, covenants and agreements of this Lease. Tenant shall give to Landlord at least thirty (30) days' written notice of any intention to vacate the Premises Premises, and Tenant shall be entitled to thirty (30) days' written notice to quit the Premises, unless Tenant is in default hereunder, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days' notice to quit being hereby expressly waived. Notwithstanding the foregoing provisions of this Section 21.1, in the event that Tenant shall hold over after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Lease Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) and if Landlord shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy desire to regain possession of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to promptly at the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject then at any time prior to all the covenants and provisions Landlord's acceptance of this Lease insofar as the same are applicable to such tenancy. If rent from Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the monthly tenant hereunder, Landlord, at its option, may forthwith re-enter and take possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy legal process in force in the event Commonwealth of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseVirginia.
Appears in 1 contract
Holding Over. Provided (a) Tenant gives must obtain the prior consent of Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted in order to retain remain in possession of the Premises after the expiration Lease end. If Tenant remains in possession of the Term Premises after Lease end without any modification obtaining the prior consent of Landlord:
(i) such holdover shall not be deemed to be a renewal of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election Lease but shall be deemed to have been for create a period of six month-to-month term which may be terminated by either party on twenty (620) monthsdays’ written notice to the other party. Tenant’s occupancy during In the event that any such permitted holdover shall be pursuant to exists, all of the terms and conditions provisions of this LeaseLease shall be applicable during such holdover period, except that Tenant shall pay Base one hundred twenty-five percent (125%) of the Rent in effect on the termination date computed on a daily basis for each day of the holdover period.; and
(ii) Tenant shall reimburse Landlord within thirty (30) business days after the receipt of an invoice therefor, accompanied by such detail as may reasonably be requested by Tenant, for all reasonable out-of-pocket costs, expenses, fees, charges or penalties incurred or payable by Landlord in connection with any other tenant or lease for the Premises resulting from the delay by Tenant in surrendering the Premises in accordance with the provisions of this Lease, including, without limitation, penalties or holdover rent paid or credit given to the next tenant for the Premises as a result of late delivery to such tenant of the Premises.
(b) If Tenant remains in possession of the Premises after Lease end with the prior consent of Landlord, such occupancy shall be a tenancy from month-to-month on all of the terms of this Lease and provisions of Utah law applicable to a month-to-month tenancy (which tenancy shall be terminable as of the end of any calendar month by written notice given by either Party to the other at least fifteen (15) days prior to the end of the month concerned) at a rental (and not as a penalty) in the amount of one hundred ten twenty-five percent (110125%) of the Base last Rent in effect immediately prior payable by Tenant to the expiration Landlord each month of the Termsuch occupancy thereafter, plus all other Rent provided for charges payable under this Lease.
(c) Notwithstanding anything contained in this LeaseParagraph 17.2 to the contrary, except thaton any termination of this Lease pursuant to Paragraphs 13 or 14, Tenant shall have up to thirty (30) days to surrender the Premises after the effective date of such termination, and the provisions of this Paragraph 17.2 shall not be applicable until after the expiration of such elected thirty (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover 30)-day period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Lease Agreement
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall vacate the Premises on or before the Termination Date. If Tenant retains possession of all or any part of the Premises beyond the Termination Date, such possession shall be permitted deemed to retain be against Landlord's will unless Landlord consents to such possession in writing. If Tenant remains in possession of all or any part of the Premises after the expiration Termination Date without Landlord's written consent: (a) Tenant shall pay Landlord 1/15th of the Base Rent payable for the last month of the Lease Term without for each day that Tenant holds possession of any modification part of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months Premises after the Expiration Termination Date, as specifically elected in such Holdover Notice. If ; (b) Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election 's occupancy of the Premises shall be deemed to have been for solely as a period tenant at sufferance and no notice of six (6) months. Tenant’s occupancy during such permitted holdover termination shall be pursuant necessary in order to recover possession; (c) Tenant's use of the Premises otherwise shall be subject to all of the applicable terms and conditions of this Lease, except that Tenant shall pay Base Rent ; and (d) in the amount of one hundred ten (110%) of the Base Rent addition to such other remedies as may be available to Landlord at law or in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f)equity, Tenant shall be a tenant-at-sufferanceindemnify, defend and until Tenant relinquishes possession of hold Landlord harmless from and against any and all claims, damages, losses, liabilities and costs arising from or related to Tenant's continued possession, including without limitation reasonable attorneys', brokers' and consultants' fees, costs and expenses. Notwithstanding anything set forth in this Article 2 to the Premisescontrary, Tenant shall pay rent in an amount equal have the one-time right to two hundred percent extend the Lease Term for a short-term hold-over period (200%the "HOLDOVER OPTION") by giving Landlord written notice exercising the Holdover Option not less than 12 months before the then-applicable Expiration Date, which notice shall specify the duration of the Base Rent in effect immediately prior to hold-over period (the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If "HOLDOVER TERM") that Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph elects (which Holdover Term shall be construed as a consent by Landlord to not less than one month or more than six months). Tenant may not exercise the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.Holdover Option if there is a
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Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (fails to vacate the “Holdover Notice”)Premises at the end of the Term, then Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Leasea tenant at sufferance and, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant addition to all of the terms other damages and conditions of this Lease, except that remedies to which Landlord may be entitled for such holding over: (a) Tenant shall pay pay, in addition to the other Rent, Base Rent in equal to (i) for the amount first sixty (60) days of such holding over, one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to payable during the expiration last month of the Term, plus all other Rent provided for in this Leaseand (ii) thereafter, except that, after the expiration greater of such elected (or deemed elected1) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two one hundred fifty percent (200150%) of the Base Rent in effect immediately prior to payable during the expiration or termination last month of the Lease Term, plus or (2) one hundred fifty percent (150%) of the prevailing rental rate in the Building for similar space; and (b) Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease. The provisions of this Section 22 shall not be deemed to limit or constitute a waiver of any other Rent rights or remedies of Landlord provided for in herein or at Law. If ▇▇▇▇▇▇ fails to surrender the Premises upon the termination or expiration of this Lease, and otherwise subject in addition to all the covenants and provisions of this Lease insofar as the same are applicable any other liabilities to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consentLandlord accruing therefrom, Tenant shall thereupon be subject protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including any claims made by any succeeding tenant founded upon such failure to summary eviction as surrender, and any lost profits to Landlord resulting therefrom; provided by Law. Nothing in that this paragraph shall be construed as indemnity will only apply after Landlord has provided Tenant with at least sixty (60) days’ written notice that Landlord is negotiating with a consent by Landlord to the possession new tenant (or has entered into an agreement with a new tenant) for all or part of the Premises by Tenant after the expiration and ▇▇▇▇▇▇’s holding over conflicts with such new tenancy or Landlord’s or such new tenant’s preparation of all or part of the Term or any termination of this Lease by Premises therefor. Notwithstanding the foregoing, if Tenant holds over with Landlord’s express written consent, or as an exclusive remedy in the event of a holdover. There then Tenant shall be no renewal a month-to-month tenant and Tenant shall pay, in addition to the other Rent, Base Rent equal to one hundred twenty-five percent (125%) of this Lease by operation the Base Rent payable during the last month of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseTerm.
Appears in 1 contract
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant 3.3.1 Nothing in this Lease shall be permitted deemed in any way to retain possession of permit Tenant to use or occupy the Premises after the expiration of the Term without or any modification earlier termination of this Lease. If and only if ▇▇▇▇▇▇ continues to occupy the Premises after such expiration or termination after obtaining Landlord’s express, except as provided herein, or other written agreement between consent thereto,
(a) such occupancy shall (unless the parties for a period of up to six (6hereto otherwise agree in writing) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for be under a period month-to-month tenancy, which shall continue until either party hereto notifies the other in writing, by at least thirty (30) days before the end of six any calendar month, that the party giving such notice elects to terminate such tenancy at the end of such calendar month, in which event such tenancy shall so terminate;
(6b) months. Tenant’s occupancy during such permitted holdover month-to-month tenancy shall be pursuant to all of on the same terms and subject to the same conditions of as those set forth in this Lease, except that Tenant shall pay Base Rent in if Landlord gives Tenant, by at least thirty (30) days before the end of any calendar month during such month-to-month tenancy, written notice that such terms and conditions (including any thereof relating to the amount and payment of one hundred ten (110%Rent) of shall, after such month, be modified in any manner specified in such notice, then such tenancy shall, after such month, be on the Base Rent in effect immediately prior said terms and subject to the expiration of the Termsaid conditions, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which as so modified.
3.3.2 If Tenant remains in occupancy of continues to occupy the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any earlier permitted termination of this Lease by without having obtained Landlord’s express, written consent thereto, then without altering or as an exclusive remedy in the event impairing any of a holdover. There shall be no renewal of Landlord’s rights under this Lease or applicable law, (a) Tenant hereby agrees to pay to Landlord immediately on demand by operation Landlord as holdover rental (“Holdover Rent”) for the Premises, for each calendar month or portion thereof after such expiration of law. This Paragraph 19(f) shall survive the Term or such earlier permitted termination of this Lease, as aforesaid, until ▇▇▇▇▇▇ surrenders possession of the Premises to Landlord, a sum equaling the allocable monthly Annual Rent plus Fifty and 00/100 Dollars ($50.00) per each day of such holdover occupancy, and (b) Tenant shall surrender possession of the Premises to Landlord immediately on Landlord’s having demanded the same. Nothing in this Lease by lapse shall be deemed in any way to give Tenant any right to remain in possession of time the Premises after such expiration or otherwisepermitted termination, regardless of whether Tenant has paid any such Holdover Rent to Landlord, without ▇▇▇▇▇▇▇▇’s express written approval.
Appears in 1 contract
Sources: Ground Lease
Holding Over. Provided If Tenant gives holds possession of any portion of the Premises after expiration or termination of the term of this Lease with respect to that portion of the Premises without the written consent of Landlord, then absent express agreement of Landlord such holding over shall be a tenancy at sufferance and not less than for any periodic or fixed term. Tenant shall pay monthly rental hereunder equal to one hundred fifty percent (150%) of the amount of Base Rent an Additional Rent payable immediately prior to expiration of such term with respect to such Premises during the first thirty (30) days of such holdover period, after which time Tenant shall pay monthly rental equal to two hundred seventy percent (270200%) days advance written notice (of the “Holdover Notice”)amount of Base Rent and Additional Rent payable immediately prior to expiration of such term with respect to such Premise, together with such other amounts as may become due hereunder, and otherwise all of the terms and conditions of this Lease shall continue to apply, excluding any options or rights of Tenant to renew or extend this Lease or expand the Premises hereunder. Nothing herein shall be permitted construed as a consent in advance by Landlord to retain any holding over by Tenant or to any specific terms or conditions of any holding over, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises after to Landlord when and as required hereunder. Any holding over with the expiration written consent of the Term without any modification of this LeaseLandlord shall, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected otherwise specified in such Holdover Notice. If Tenant’s Holdover Notice fails consent, thereafter constitute a lease from month to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant month but otherwise subject to all of the terms and conditions of this Lease, except that excluding any options or rights of Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (renew or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of extend this Lease during which Tenant remains in occupancy of or expand the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisehereunder.
Appears in 1 contract
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy six (2706) days months advance written notice (the “Holdover Notice”)thereof, Tenant shall be permitted to retain possession of the Leased Premises after the expiration of the Term of this Lease without any modification of this Lease, except as provided herein, Lease or other written agreement between the parties for a period of up not to six exceed two (62) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s Such occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent during such period in the an amount of equal to one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, and except that, after the expiration of such elected two (or deemed elected2) holdover period month period, the foregoing provisions of this Paragraph 19(f) Article XXI shall no longer be effective. After the expiration of such two (2) month period, Tenant shall instead be permitted holdover periodto retain possession of the Leased Premises for an additional period not to exceed twelve (12) months, under the same terms and conditions as the initial two (2) month holdover, except that Tenant shall be a month-to-month tenant (i.e., either Landlord or Tenant may terminate such tenancy upon not less than thirty (30) days advance written notice), and Tenant shall pay Base Rent in an amount equal to one hundred seventy-five percent (175%) of the Base Rent in effect immediately prior to the expiration of the Term. After the expiration of such twelve (12) month period or earlier termination of such month-to-month tenancy by Landlord or Tenant, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Leased Premises without the express right to do so under this Paragraph 19(f)Article XXI, Tenant shall be a tenant-at-sufferance, and (i) until Tenant relinquishes possession of the Leased Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, (ii) Tenant shall thereupon be subject pay to summary eviction as provided Landlord all direct and consequential damages sustained by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the reason of Tenant's retention of possession of the Premises by Tenant after the expiration of the Term for lost rentals, leasing fees, advertising costs, marketing costs, holdover or any termination of this Lease by Landlordalternative space rents, or as an exclusive remedy in the event of a holdovertenant finish expense and relocation costs. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term without with the express written consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification of this Leasefurther term, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected and in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election case Base Rent shall be deemed payable at a monthly rate equal to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to applicable during the expiration last calendar month of the Term, plus all other Rent provided for in this Lease, except that, after Lease Term during the expiration of such elected first three (or deemed elected3) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after months immediately following the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or earlier termination of the Lease Term, plus all other Rent provided for in this Leaseor Option Term, if applicable, and otherwise one hundred fifty percent (150%) thereafter. Such month-to-month tenancy shall be subject to all the covenants every other applicable term, covenant and provisions of this Lease insofar as the same are applicable to such tenancyagreement contained herein. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to one hundred twenty-five percent (125%) the Base Rent applicable during the last calendar month of the Lease Term during the first three (3) months immediately following the expiration or earlier termination of the Lease Term, or Option Term, if applicable, and one hundred fifty percent (150%) thereafter. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord’s express written consent, and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant acknowledges and agrees that the cashing of such check or acceptance of such wire shall be considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord’s ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and deliver the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all claims made by any succeeding tenant founded upon such failure to vacate and deliver for more than thirty (30) days, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Premises, whether before or as an exclusive remedy in after expiration of the event of a holdover. There Lease Term, shall be no renewal considered an action to enforce the terms of this Lease by operation for purposes of law. This Paragraph 19(f) shall survive the termination awarding of this Lease by lapse of time or otherwiseany attorney’s fees in connection therewith.
Appears in 1 contract
Sources: Office Lease (Box Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of the Premises after the termination or expiration of the Term without Lease Term, then Tenant shall, at Landlord’s election become a tenant at sufferance (and not a tenant at will), such possession shall be subject to immediate termination by Landlord at any modification time, and all of the other terms and provisions of this Lease (excluding any expansion or renewal option or other similar right or option) shall be applicable during such holdover period, except that in addition to any other rights or remedies Landlord may have hereunder or at law, for each day during which ▇▇▇▇▇▇ holds over in the Premises after the Expiration Date or sooner termination of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in to Landlord a holdover charge, computed on a monthly basis for each month or part thereof during such holding over, as follows: (a) for the first thirty (30) days of said holdover period, an amount of equal to one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior on the termination or expiration date; and (b) if such holdover continues for more than thirty (30) days, an amount equal to 200% of the expiration Base Rent and Additional Rent payable under this Lease for the last full calendar month of the Term. In addition, plus all other Rent provided if such holding over continues for in more than thirty (30) days after the Expiration Date or sooner termination of the Term of this Lease, Tenant shall indemnify and hold harmless Landlord for all claims, liabilities, obligations and damages incurred by Landlord arising out of or resulting from such holding over. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except thatas otherwise expressly provided, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of and this Paragraph Section 19(f) shall no longer not be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which construed as consent for Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes retain possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Office Lease (enGene Holdings Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration or other termination of the Term without any modification of this LeaseTerm, except as provided hereinthen, or other written agreement between the parties for a period of up to six (6) months after the Expiration Dateat Landlord's option, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election Tenant shall be deemed to have been for be occupying the Premises as a period month-to-month tenant only, at a monthly rental equal to (i) during the first sixty (60) days of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Leaseholdover, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the monthly Base Rent in effect immediately prior to applicable during the expiration last rental period of the Term, plus and (ii) following the first sixty (60) days of any holdover, one hundred fifty percent (150%) of the monthly Base Rent applicable during the last rental period of the Term. Tenant shall also pay all other Additional Rent provided for in payable under this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease prorated for each month during which Tenant remains in occupancy possession. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last day of any calendar month by delivery to the other of notice of such termination prior to the first day of such calendar month. Nothing contained in this Section 8.3 shall be construed as consent by Landlord, which consent may be withheld in Landlord's sole discretion, to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises without to Landlord as provided in this Lease upon the express right expiration or other termination of this Lease. The provisions of this Section 8.3 shall not be deemed to do so under this Paragraph 19(f), limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant shall be protect, defend, indemnify and hold Landlord harmless from and against any and all claims, losses and liabilities for damages resulting from failure to surrender possession no later than ninety (90) days after the Expiration Date or sooner termination of the Term, including, without limitation, any claims made by any succeeding tenant and any lost profits to Landlord resulting therefor (collectively "Consequential Damages"); provided, however, that during the first ninety (90) days following the Expiration Date, such Consequential Damages shall include only the excess, if any, of the amount of rental income which would have been payable to Landlord from the next tenant of the Premises (or portion thereof) in the event Tenant had timely vacated the Premises (or portion thereof) over the holdover rent payable by Tenant during such period. Tenant's indemnification obligations pursuant to this Section 8.3 shall survive the expiration or sooner termination of this Lease. Notwithstanding any contrary provisions of this Lease or set forth in applicable law to the contrary, Landlord and Tenant hereby acknowledge and agree that in the event Tenant remains in possession of all or a tenant-at-sufferanceportion of the Premises following the expiration or earlier termination of this Lease, Landlord may, at Landlord's sole option, commence and until Tenant relinquishes possession pursue to completion an unlawful detainer action or other action to terminate the Lease with respect to any full floor of the Premises, Tenant and Landlord shall pay rent in an amount equal not be required to two hundred percent (200%) of terminate the Base Rent in effect immediately prior to the expiration or termination remainder of the Lease Term, plus all other Rent provided for unless Landlord chooses to do so in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseits sole discretion.
Appears in 1 contract
Holding Over. Provided 12.1 Tenant gives acknowledges that it is extremely important that Landlord have substantial advance notice of the date Tenant will vacate the Premises because Landlord will (a) require an extensive period to secure a replacement tenant, and (b) plan its entire leasing and renovation program for the Building in reliance on its lease expiration dates. If the Premises are not less than two hundred seventy surrendered at the expiration or earlier termination of Tenant's right of possession, then it will be conclusively presumed that the value of possession, and the resulting loss that will be suffered by Landlord, far exceed the Base Rent and additional rent that would have been payable had the Lease Term continued during such holdover period. Therefore if upon the expiration or earlier termination of Tenant's right of possession Tenant (270or anyone claiming through Tenant) days advance written notice does not surrender immediately the Premises (the “Holdover Notice”or portion thereof), Tenant then the rent shall be permitted increased to retain equal the greater of the following percentage of the Base Rent, additional rent and other sums that would have been payable pursuant to the provisions of this Lease (assuming the Lease Term for the entire Premises had continued during such holdover period): one hundred three percent (103%) if Landlord has given Tenant written permission to holdover; one hundred twenty-five percent (125%) if Landlord has not given Tenant written permission to holdover but Landlord does not have a lease or purchase agreement executed with another party and does not intend for itself or its affiliates to occupy; or one hundred fifty percent (150%) in any other case. Such rent shall be computed on a monthly basis and shall be payable on the first day of such holdover period and the first day of each calendar month thereafter during such holdover period until the Premises have been vacated. Nothing herein shall limit Landlord's right to recover possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after upon the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or earlier termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Lease (Gse Systems Inc)
Holding Over. Provided 26.1. If, with Landlord’s prior written consent, Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (holds possession of all or any part of the “Holdover Notice”)Premises after the Term, Tenant shall become a tenant from month to month after the expiration or earlier termination of the Term, and in such case Tenant shall continue to pay (a) Base Rent in accordance with Article 6, as adjusted in accordance with Article 7, and (b) any amounts for which Tenant would otherwise be permitted liable under this Lease if the Lease were still in effect, including payments for Taxes, Insurance Costs, Tenant’s electricity and other utility costs, and all other Additional Rent. Any such month-to-month tenancy shall be subject to retain every other term, covenant and agreement contained herein.
26.2. Notwithstanding the foregoing, if Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without any modification of this LeaseLandlord’s prior written consent, except as provided herein, or other written agreement between the parties for (a) Tenant shall become a period of up tenant at sufferance subject to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant the monthly rent shall pay Base Rent in the amount of be equal to one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to during the expiration last thirty (30) days of the Term, plus all other Rent provided and (b) if such holdover continues for in this Lease, except that, more than thirty (30) days after the expiration earlier of such elected (or deemed electedi) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or earlier termination of this Lease during which the Term and (ii) the date Landlord notifies Tenant remains in occupancy of that Landlord has procured a tenant that is ready, willing, and able to sign a lease for the Premises without the express right to do so under this Paragraph 19(f(or portion thereof), Tenant shall be liable to Landlord for any and all damages suffered by Landlord as a tenant-at-sufferanceresult of such holdover, including any lost rent or consequential, special and until Tenant relinquishes possession indirect damages (in each case, regardless of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) whether such damages are foreseeable).Acceptance by Landlord of the Base Rent in effect immediately prior to after the expiration or earlier termination of the Lease TermTerm shall not result in an extension, plus all other Rent provided for in renewal or reinstatement of this Lease, and otherwise subject to all the covenants and .
26.3. The foregoing provisions of this Lease insofar Article are in addition to and do not affect Landlord’s right of reentry or any other rights of Landlord hereunder or as otherwise provided by Applicable Laws.
26.4. The provisions of this Article shall survive the same are applicable to such tenancy. If Tenant remains in possession after expiration or earlier termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Sources: Lease (PMV Pharmaceuticals, Inc.)
Holding Over. Provided No holding over by Tenant past the Expiration Date shall operate to extend the Term. Notwithstanding the foregoing, if Tenant gives Landlord not less than two hundred seventy twelve (27012) days advance months prior written notice (the “Holdover Notice”)notice, Tenant shall be permitted will have the one time right to retain hold over possession of the entire Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to one calendar month on all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount for said one month period of holdover shall be increased to one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior during the last month of the Term and the terms of the following three sentences shall not apply. Subject to the expiration foregoing, if Tenant remains in possession of the Term, plus all other Rent provided for in this Lease, except that, Premises after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Lease: (i) Tenant shall become a tenant at sufferance upon all the applicable terms and conditions of this Lease, except that Base Rent shall be a tenant-at-sufferance, and until Tenant relinquishes possession increased to the greater of the Premises, Tenant shall pay rent in an amount equal to two (a) one hundred fifty percent (200150%) of the Base Rent in effect immediately prior for the last month of the Term, and (b) one hundred fifty percent (150%) of the fair market rental value of the Premises (as evidenced by the rental rates then being offered by Landlord for comparable space in the Building) during such period. In addition to the expiration foregoing, Tenant shall indemnify, defend, protect and hold harmless Landlord, the other Indemnitees, and any tenant to whom Landlord has leased all or termination part of the Lease TermPremises from Claims (including loss of rent loss to Landlord or additional rent payable by such tenant and reasonable attorneys’ fees) suffered or incurred by Landlord, plus all such other Indemnitees, or such tenant resulting from Tenant’s failure timely to vacate the Premises; and (iii) such holding over by Tenant shall constitute an Event of Default. Landlord’s acceptance of Rent provided for if and after Tenant holds over shall not convert Tenant’s tenancy at sufferance to any other form of tenancy or result in a renewal or extension of the Term of this Lease, and unless otherwise subject specified by written notice from Landlord to all Tenant. Within ten (10) business days after Tenant’s request, Landlord shall provide Tenant a written notice setting forth any leases or other occupancy agreements for the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence Premises or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent any portion thereof entered into by Landlord to the possession as of the Premises by Tenant date of such request and which will commence after the expiration of the Term or any termination term of this Lease by Landlord, or as an exclusive remedy in and for which Landlord may suffer Claims if Tenant fails to timely vacate the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises.
Appears in 1 contract
Holding Over. Provided If Tenant gives does not surrender to Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after in substantially the condition required by Section 8 and Section 11 (the “Surrender Condition”) on or before the expiration or earlier termination of the Term, then Landlord may deem Tenant to be occupying the Premises as a tenant from month-to-month, at a monthly rental, payable on a per diem basis, equal to: (1) [redacted] of the Monthly Base Rate in effect for the last full month of the Term without for the first [redacted] of any modification of this Leasesuch holding over, except as provided herein, or other written agreement between the parties for a period of up to six and (62) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all [redacted] of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Monthly Base Rent in effect immediately prior to the expiration last full month of the Term, plus all other Rent provided Term for in this Lease, except that, after the expiration remaining period of any such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferanceholding over, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and other provisions of this Lease insofar as the same are applicable or adjusted to such a month-to-month tenancy, including Tenant’s obligation to pay Additional Rent for Tenant’s Share of Increases in Operating Expenses and Tenant’s Share of Increases in Real Estate Tax Expenses. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant hold over after the expiration of the Term or any termination extension period thereof, and if Landlord shall desire to regain possession of the Premises promptly at the expiration of the Term or extension period thereof, then notwithstanding the foregoing provisions of this Lease by Section 25, Landlord, or as an exclusive remedy at its option, may forthwith reenter and take possession of the Premises by any legal process in effect in the event of a holdover. There shall be no renewal of jurisdiction in which the Building is located, and Landlord may exercise any other remedies it has under this Lease or at law or in equity, including an action for wrongfully holding over. If Tenant surrenders possession of the Premises, but not substantially in the condition required by operation Section 8 and Section 11 (the “Surrender Condition”), and such failure continues for ten (10) days after Tenant’s receipt of law. This Paragraph 19(f) written notice from Landlord, then Landlord shall survive have the termination of this Lease by lapse of time or otherwise.rights set forth in Section 11.B.
Appears in 1 contract
Holding Over. Provided If the Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Leased Premises after the expiration or other termination of this Lease with the express written consent of the Term without any modification Landlord, the Tenant's occupancy shall be a month-to-month tenancy at a rent agreed upon by the Landlord and the Tenant, but in no event less than the Rent payable under this Lease during the last full month prior to the date of the expiration or other termination of this Lease, except . Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease. The Landlord's acceptance of Rent after such holding over with the Landlord's written consent shall not result in any other tenancy or in a renewal of the term hereof. If the Tenant remains in possession of the Leased Premises after the expiration of the termination of this Lease without the Landlord's written consent, except that the Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base Rent in during the holdover period an amount equal to the greater of (i) one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to fair market rental (as reasonably determined by Landlord) for the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected Leased Premises or (or deemed electedii) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately payable under this Lease for the last full month prior to the date of such expiration or termination other termination. Tenant shall indemnify and hold Landlord harmless from and against all damages, costs or expenses, including, without limitation, reasonable attorneys fees and costs of re-renting, if required, incurred by Landlord resulting from Tenant's failure to surrender the Leased Premises within the time provided under this Lease, for any (i) rent payable by any prospective tenant of the Lease TermLeased Premises or any portion thereof and (ii) Landlord's damages as result of such prospective tenant rescinding the prospective lease of the Leased Premises or any portion thereof by reason of such failure to timely surrender the Leased Premises; provided that Landlord shall make reasonable efforts, plus all other Rent as defined in Paragraph 10.3, above, to mitigate damages. All indemnification obligations, including without limitation those contained in Paragraphs 3.3 and 3.4, provided for in this LeaseLease shall continue and remain in full force and effect during any holdover period, and otherwise subject resulting month to all the covenants and provisions of this Lease insofar as the same are applicable to such month tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Lease (Integra Lifesciences Corp)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term without with the express written consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification of this Leasefurther term, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected and in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election case Base Rent shall be deemed to have been for payable at a period monthly rate of six (6A) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the Base Rent in effect applicable during the last rental period of the Lease Term under this Lease for the first two (2) months immediately prior to following the expiration or earlier termination of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected and (or deemed electedB) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease thereafter. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any further term, and in effect such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to (i) one hundred twenty-five percent (125%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the first two (2) months immediately prior to following the expiration or earlier termination of this Lease, and (ii) two hundred percent (200%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease (calculated on a per diem basis) thereafter. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord's express written consent, and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant acknowledges and agrees that the cashing of such check or acceptance of such wire shall be considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and deliver the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all claims made by any succeeding tenant founded upon such failure to vacate and deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Premises, whether before or after expiration of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject shall be considered an action to all enforce the covenants and provisions terms of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession for purposes of the Premises by Tenant after the expiration awarding of the Term or any termination of this Lease by Landlord, or as an exclusive remedy attorney’s fees in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseconnection therewith.
Appears in 1 contract
Sources: Office Lease (Retrophin, Inc.)
Holding Over. Provided Tenant gives Upon written notice to Landlord not less given no later than two hundred seventy ninety (27090) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in so long as no Default on the part of Tenant then exists under this Lease, except that, after Tenant shall have the expiration one-time right to hold over in the entire Premises upon each and all of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of terms and conditions set forth in this Lease during which Tenant remains in occupancy for up to three (3) successive periods of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent thirty (200%30) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant days after the expiration of the initial Term (such thirty (30) day period(s), if applicable, being the “Permitted Holdover Period”), it being the intent of the parties that the Permitted Holdover Period shall in no event exceed ninety (90) days, in the aggregate. In consideration of Tenant’s occupancy of the Premises during the Permitted Holdover Period (if applicable), Tenant shall pay in advance, the amount equal to 100% of the monthly installment of Basic Rent in effect for the Premises (in its entirety) for the last month of the initial Lease Term (such amount being the “Permitted Holdover Period Rent”), in addition to, and not in lieu of, all other payments required to be made by Tenant under this Lease. If (A) Landlord fails to receive the ninety (90) days’ written notice from Tenant described in the first sentence of this Section 15.1 above, and Tenant holds over for any period after the Expiration Date (or earlier termination of the Term), or (B) after the Permitted Holdover Period (if applicable), Tenant holds over for any period after the Expiration Date (or earlier termination of the Term), then in either of such events, possession shall be subject to all of the terms of this Lease (including, without limitation, the obligation to pay Tenant’s Share of Operating Expenses), except that the monthly Basic Rent shall be 150% of the total monthly Basic Rent for the month immediately preceding the date of termination for each month of holdover thereafter. The acceptance by Landlord of monthly hold-over rental in a lesser amount shall not constitute a waiver of Landlord’s right to recover the full amount due unless otherwise agreed in writing by Landlord. Subject to the terms and conditions of this Section 15.1 above, if Tenant fails to surrender the Premises within 15 days after the expiration of this Lease despite demand to do so by Landlord, Tenant shall indemnify and hold Landlord harmless from all loss or as an exclusive remedy liability, including without limitation, any claims made by any succeeding tenant relating to such failure to surrender (provided that Landlord shall have delivered written notice to Tenant of the existence of any such succeeding tenant or prospective tenant, and Tenant holds over for a period in the event excess of a holdoverthirty (30) days after Landlord’s delivery of such notice). There shall be no renewal The foregoing provisions of this Lease by operation Section 15.1 are in addition to and do not affect Landlord’s right of law. This Paragraph 19(f) shall survive the termination re-entry or any other rights of Landlord under this Lease by lapse of time or otherwiseat law.
Appears in 1 contract
Sources: Lease (Proofpoint Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of all or any part of the Premises after the expiration or earlier termination of the Term without any modification with the express or implied consent of this LeaseLandlord, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election 's occupancy shall be deemed a month-to- month tenancy at a Monthly Base Rent equal to have been for a period one hundred fifty percent (150%) of six (6) monthsthe Monthly Base Rent payable during the last month of the Term. Tenant’s occupancy during such permitted holdover The month-to-month tenancy shall be pursuant to all of on the terms and conditions of this Lease except as provided in (a) the preceding sentence, and (b) those provision of this Lease relating to (i) the term of this Lease as contain in ▇▇▇▇▇▇▇▇▇ ▇, (▇▇) expansion rights given to Tenant under this Lease, except that if any, and (iii) extension rights given to Tenant under this Lease, if any. Landlord's acceptance of rent after such holding over with Landlord's consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of all or any part of the Premises after the expiration or earlier termination of the Term without Landlord's consent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Base Rent in during the holdover period an amount equal to the greater of (x) one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided fair market rental (as reasonably determined by Landlord) for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to or (y) two hundred percent (200%) of the Monthly Base Rent in effect immediately prior to payable under this Lease for the last full month before the date of expiration or earlier termination of the Lease Term. In addition, plus during such holdover period Tenant shall pay to Landlord all other Rent provided for in sums required to be paid by Tenant to Landlord under this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancyincluding, without limitation, Operating Expenses. If Tenant remains in possession after of all or any part of the Premises without Landlord's consent, Tenant agrees to promptly indemnify, protect, defend and hold Landlord harmless from all claims, damages, judgments, suits, causes of action, losses, liabilities, penalties, fines, expenses, and costs, including, without limitation, attorneys' fees and costs, costs and expenses incurred by Landlord in returning the Premises or any part thereof to the condition in which Tenant was to surrender the same, and claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender the Premises. The provisions of the immediately preceding sentence shall survive the expiration or earlier termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by LawLease. Nothing in this paragraph Subparagraph 11(b) shall be construed as a implied consent by Landlord to any holding over by Tenant. Landlord expressly reserves the right to require Tenant to surrender possession of the Premises by Tenant after to Landlord as provided in this Lease on the expiration or earlier termination of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdoverLease. There shall be no renewal The provision of this Lease by operation of law. This Paragraph 19(fSubparagraph 11(b) shall survive the termination not be considered to limit or constitute a waiver of any other rights or remedies of Landlord provided in this Lease by lapse of time or otherwiseat law.
Appears in 1 contract
Sources: Lease Agreement (Softlink Inc)
Holding Over. Provided In the event Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided hereinand without the execution of a new lease, or other but with Landlord's written agreement between the parties for a period of up to six (6) months after the Expiration Dateconsent, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election it shall be deemed to have been for be occupying the Premises as a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant tenant from month to month, subject to all the provisions, conditions and obligations of this Lease insofar as the terms and conditions same can be applicable to a month-to-month tenancy, except that (i) for the first month after the expiration of this Lease, except that Tenant shall pay the Base Rent in the amount of shall be escalated to one hundred ten fifty percent (110150%) of Landlord's then current Base Rent for the Premises according to Landlord's then current rental rate schedule for prospective tenants, and (ii) for the every month thereafter, the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal escalated to two hundred percent (200%) of the landlord's then current Base Rent in effect immediately prior for the Premises according to Landlord's then current rental rate schedule for prospective tenants. In the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If event Tenant remains in possession of the Premises after termination expiration of this Lease and without the execution of a new lease and without Landlord’s acquiescence or 's written consent, Tenant shall thereupon be subject deemed to summary eviction be occupying the Premises without claim of right and Tenant shall pay Landlord for all costs arising out of loss or liability resulting from delay by Tenant in so surrendering the Premises as provided by Law. Nothing in this paragraph Section 17.1 and shall be construed as pay a consent charge for each day of occupancy an amount equal to double the Base Rent and Additional Rent (on a day basis) then currently being charged by Landlord on new leases in the Property for space similar to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises.
Appears in 1 contract
Sources: Office Lease Agreement (Primis Inc)
Holding Over. Provided Any holding over by Tenant gives Landlord not less than two hundred seventy after the expiration of the term of this Lease shall be treated as a tenancy at sufferance and shall be on the terms and conditions as set forth in this Lease, as far as applicable except that Tenant shall pay as a use and occupancy charge an amount equal to the greater of (270y) (i) for the first thirty (30) days advance written notice of any such holdover, an amount equal to 125% of the sum of the Annual Fixed Rent and Additional Rent (including Operating Expenses Allocable to the “Holdover Notice”)Premises and Landlord’s Tax Expenses Allocable to the Premises) calculated (on a daily basis) at the rate payable under the terms of this Lease immediately prior to the commencement of such holdover, (ii) during the second month of any such holdover, an amount equal to 150% of the Annual Fixed Rent and Additional Rent (including Operating Expenses Allocable to the Premises and Landlord’s Tax Expenses Allocable to the Premises) calculated (on a daily basis) at the rate payable under the terms of this Lease immediately prior to the commencement of such holdover, and (iii) thereafter during any such holdover period, an amount equal to 200% of the Annual Fixed Rent and Additional Rent (including Operating Expenses Allocable to the Premises and Landlord’s Tax Expenses Allocable to the Premises) calculated (on a daily basis) at the rate payable under the terms of this Lease immediately prior to the commencement of such holdover, or (x) the fair market rental value of the Premises; in 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. 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 Tenant’s hold over in the Premises after the expiration or prior termination of the Term of this Lease; provided, however, Tenant shall not be permitted liable for indirect or consequential damages suffered by Landlord on account of any such holding over by Tenant unless such holding over continues for more than thirty (30) days after the expiration of the Term of this Lease. Nothing in the foregoing nor any other term or provision of this Lease shall be deemed to permit Tenant to retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover NoticeLease Term. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent All property which remains in the amount of one hundred ten (110%) of Building or the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time Premises after the expiration or termination of this Lease during which Tenant remains shall be conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in occupancy such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the proceeds of such sale and apply the same, at its option against the expenses of the Premises without sale, the express right cost of moving and storage, any arrears of rent or other charges payable hereunder by Tenant to do so Landlord and any damages to which Landlord may be entitled under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, Lease and until Tenant relinquishes possession of the Premises, Tenant shall pay rent at law and in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseequity.
Appears in 1 contract
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270a) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain If City holds over in possession of the Premises after the expiration of the Term without any modification of with ▇▇▇▇▇▇▇▇’s consent, that holding over will not be deemed to extend the Term or renew this Lease, except and City’s tenancy will continue as provided herein, or other a month-to-month tenancy until the tenancy is terminated by either party by giving least thirty (30) days’ prior written agreement between the parties for a period notice of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Noticetermination. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall The month-to-month tenancy will be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to on all of the terms and conditions of this Lease, except that Tenant shall pay Lease and at the monthly Base Rent in effect during the amount last month of the Term or as Landlord and City may mutually agree in writing. If City holds over without ▇▇▇▇▇▇▇▇’s consent, the rent payable by City during the period of holding over will be one hundred ten percent (110%) of the monthly Base Rent in effect immediately prior to during the expiration last month of the Term, plus all other Rent provided for in this Lease, except that, after the expiration Term of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and the tenancy will otherwise subject be on the terms and conditions contained in this Lease. If, as provided in Section 20.1 (Surrender of Premises) above, City fails to all remove its FF&E and City’s Personal Property and designated Alterations, if any, by the covenants and provisions Expiration Date, then City’s continued possession will be deemed a holding over, but Base Rent will not be payable for a ten (10)-day period so long as City complies with Section 20.1 (Surrender of this Lease insofar as Premises) no later than the same are applicable to last day of such tenancy. If Tenant ten (10)-day period; if City remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after beyond that ten (10)-day period, then City’s possession will be deemed a holding over and Base Rent will be payable for the entire hold over period (including the 10 days) as set forth in this Section.
(b) If ▇▇▇▇▇▇ and Landlord have entered into negotiations for a new lease following the expiration of the Term or any termination of this Lease by Landlordat least 60 days before the Expiration Date, Tenant will not be obligated to pay Rent at the holdover rate, but, instead, will continue to pay Rent at the same rate as established for the final Lease Year until the parties either have entered into a new lease or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseterminated negotiations.
Appears in 1 contract
Sources: Master Lease Agreement
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain may remain in possession of the Premises after the expiration of the Term without any modification Expiration Date of this Lease, except as provided herein, or other written agreement between the parties Lease for a period of up to six (6) three months after on the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the same terms and conditions of this Lease, under the Lease as exist on the Expiration Date (except that Tenant Base Rental and Additional Rental for such holdover month shall pay Base Rent in the amount of be increased to one hundred ten twenty-five percent (110125%) of the Base Rent Rental and Additional Rental in effect immediately prior to the expiration Expiration Date), so long as Tenant provides Landlord written notice of such holdover at least six (6) months prior to the Expiration Date. Such notification from Tenant shall have the effect of extending the term of the TermLease for the period set forth in the notification, plus all other Rent provided subject to the aforesaid three (3) month limitation; if no length of the extension period is set forth in such notice, then such extension shall be deemed to be for a period of three (3) months. Aside from the foregoing, there shall be no extension or renewal of this Lease by operation of law, and if Tenant remains in this Lease, except that, possession of the Premises after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy (as it may be extended pursuant to the first sentence of this Section 2.4) without written authorization executed by Landlord and Tenant, but with the Premises without the express right to do so under this Paragraph 19(f)acquiescence or consent of Landlord, Tenant shall be deemed to be occupying the Premises under a tenantmonth-atto-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount month periodic tenancy at a monthly rental equal to two one hundred percent fifty (200150%) percent of the Base Rent Rental in effect immediately prior to during the expiration or termination last month of the Lease Term, plus all other Rent Additional Rental provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to a month-to-month periodic tenancy. Landlord and Tenant agree that any such tenancyperiodic tenancy may be terminated by thirty (30) days prior written notice by either party to the other party. If Tenant remains in possession after termination of this Lease (as it may be extended pursuant to the first sentence of this Section 2.4) without Landlord’s 's acquiescence or consent, Tenant thereupon shall thereupon be deemed a tenant-at-sufferance subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after ------------ the expiration or earlier termination of this Lease with the express written consent of Landlord, Tenant's occupancy shall be a month-to-month tenancy at a rent agreed upon by Landlord and Tenant, but in no event less than the greater of (i) one hundred fifty percent (150%) of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease or (ii) the Term without any modification of this Lease, except then fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord's acceptance of rent after such holding over with Landlord's written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord's consent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to the greater of (i) one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided fair market rental (as reasonably determined by Landlord) for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to or (ii) two hundred percent (200%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 1 contract
Sources: Office Lease (Bea Systems Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270directly or through any successor-in-interest of Tenant) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of any or all of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy with the consent of the Premises without the express right to do so under this Paragraph 19(f)landlord, Tenant such continued possession shall be construed to be a tenanttenancy from month to month at one hundred twenty-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred five percent (200125%) of the Monthly Base Rent herein specified (and shall be increased in effect immediately prior to accordance with Paragraph 4(b) [Adjustments in Base Rent]), together with an amount estimated by Landlord for the monthly Additional Charges payable under this Lease, and shall otherwise be on the terms and conditions herein specified so far as applicable. If Tenant (directly or through any successor-in-interest of Tenant) remains in possession of all or any portion of the Premises after the expiration or termination of this Lease without the Lease Termconsent of Landlord, plus Tenant's continued possession shall be on the basis of a tenancy at the sufferance of Landlord. In such event, Tenant shall continue to comply with or perform all other Rent provided for in the terms and obligations of Tenant under this Lease, except that the Monthly Base Rent during Tenant's holding over shall be greater of the then-fair market rent for the Premises (as reasonably determined by Landlord) or one hundred fifty percent (150%) of the Monthly Base Rent and otherwise subject Additional Charges payable in the last full month prior to all the covenants termination hereof (and provisions of this Lease insofar as the same are applicable shall be increased in accordance with Paragraph 4(b) [Adjustment in Base Rent]). In addition to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consentRent, Tenant shall thereupon be subject to summary eviction as provided pay Landlord for all damages proximately caused by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession reason of the Premises by Tenant Tenant's retention of possession. Landlord's acceptance of Rent after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease shall not constitute a renewal of this Lease, and nothing contained in this provision shall be deemed to waive Landlord's right to re-entry or any other right hereunder or at law. Tenant acknowledges that, in Landlord's marketing and re-leasing efforts for the Premises, Landlord is relying on Tenant's vacation of the Premises on the Expiration Date. Accordingly, Tenant shall indemnify, defend and hold Landlord harmless from and against all claims, liabilities, losses, costs, expenses and damages arising or resulting directly or indirectly from Tenant's failure to timely surrender the Premises, including (i) any loss, cost or damages suffered by lapse any prospective tenant of time all or otherwise.any part of the Premises, and (ii) Landlord's damages as a result of such prospective tenant rescinding or refusing to
Appears in 1 contract
Sources: Sublease (Cosine Communications Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of the Premises after the termination or expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover termLease Term, then Tenant shall, at Landlord’s election made within ten (10) business days of the commencement of such holdover become a month-to-month tenant (and Landlord’s failure to make any such election shall be deemed to have been for mean that Tenant is a period tenant at sufferance terminable at will by Landlord provided, however, the remainder of six (6this Paragraph 19(f) months. Tenant’s occupancy during shall apply), such permitted holdover possession shall be pursuant subject to termination by Landlord or Tenant with thirty (30) days written notice to the other, and all of the other terms and conditions provisions of this LeaseLease (excluding any expansion or renewal option or other similar right or option) shall be applicable during such holdover period, except that Tenant shall pay Landlord from time to time, upon demand, as Base Rent in (i) for the initial two (2) months of such holdover period, an amount of equal to one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to on the expiration of the Termtermination date, plus all other Rent provided computed on a monthly basis for in this Lease, except that, after the expiration of each month or part thereof during such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferanceholding over, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in (ii) after such initial two (2) month period an amount equal to two one hundred fifty percent (200150%) of the Base Rent in effect immediately prior to on the termination date, computed on a monthly basis for each month or part thereof during such holding over. All other payments (including payment of Additional Rent) shall continue under the terms of this Lease. In addition, in the event Tenant holds over in the Premises for more than two (2) months past the termination or expiration or termination of the Lease Term, plus then Tenant shall be liable for all other Rent provided for in damages incurred by Landlord as a result of such holding over. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this LeaseLease except as otherwise expressly provided, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant Paragraph shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall not be construed as a consent by Landlord for Tenant to the retain possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisePremises.
Appears in 1 contract
Sources: Office Lease (Honest Company, Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration Term expires or is otherwise terminated without executing a new lease but with Landlord’s prior written consent, then unless provided otherwise by Landlord in such written consent (a) Tenant is deemed to be occupying the Premises as a tenant from month-to-month, subject to all provisions, conditions and obligations of this Lease applicable to a month-to-month tenancy, (b) Basic Rent during the holdover period will equal 125% of the greater of the Basic Rent payable by Tenant in the last year of the Term without any modification of this Leaseor Landlord’s then current basic rent for the Premises according to Landlord’s rental rate schedule for prospective tenants, except as provided herein, or other written agreement between the parties for a period of up to six (6c) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant will also pay Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period Share of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms Excess Property Expenses and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Additional Rent provided for in this Lease, except that, after the expiration of applicable to such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for as described in this Lease, and otherwise subject (d) either Landlord or Tenant may terminate the month-to-month tenancy at any time upon thirty (30) days prior written notice to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancyother party. If Tenant remains in possession of the Premises after termination of this Lease the Term expires or is otherwise terminated without executing a new lease and without Landlord’s acquiescence or prior written consent, then Tenant shall thereupon is deemed to be occupying the Premises without claim of right (but subject to summary eviction as provided by Law. Nothing all provisions, conditions and obligations of this Lease) and, in this paragraph shall be construed as a consent by Landlord addition to the Tenant’s liability for failing to surrender possession of the Premises as provided in Section 16.1 and all other rights and remedies of Landlord related to such holding over, Tenant will pay Landlord a charge for each day of occupancy after the Term in an amount equal to 150% of the Basic Rent payable by Tenant after in the expiration last year of the Term or any termination (on a daily basis), plus Tenant’s Share of Excess Property Expenses and all other Additional Rent applicable to such holdover period as described in this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Sources: Office Lease Agreement (Fender Musical Instruments Corp)
Holding Over. Provided If Tenant gives provides Landlord not less than two hundred seventy (270) days advance with written notice ("HOLDOVER NOTICE") at least thirty (30) days prior to expiration of the “Lease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, Tenant shall have the right (and, subject to the grace periods described below, the obligation) to hold over after the expiration of the Lease Term until the date ("HOLDOVER NOTICE DATE") specified in such Holdover Notice (but not in excess of one hundred PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] twenty (120) days after the expiration of the Lease Term or applicable Extension Term). Any holdover tenancy (including without limitation, any holdover tenancy pursuant to a Holdover Notice”)) shall be subject to every applicable term, covenant and agreement contained herein, except that the Base Rent payable by Tenant for the Premises (irrespective of the amount of space Tenant continues to occupy in the Building) shall be escalated to equal one hundred ten percent (110%) of the then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days of such holdover occupancy and one hundred twenty-five percent (125%) of such amount during the next succeeding ninety (90) days and from and after such one hundred eighty (180) day period, Rent shall equal one hundred fifty percent (150%) of such amount thereafter; provided, however, subject to the next sentence of this Article 16, such holdover Rent and Additional Rent shall be prorated on a per diem basis through and including the date ("ACTUAL SURRENDER DATE") Tenant actually vacates and surrenders the Premises to Landlord in the condition required under this Lease. If Tenant properly delivers the Holdover Notice and the Actual Surrender Date (a) is earlier than the Holdover Notice Date by forty-five (45) days or less, Tenant's obligation to pay such holdover Rent and Additional Rent shall terminate on a per diem basis as of the Actual Surrender Date, however if the Actual Surrender Date is earlier than forty-five (45) days prior to the Holdover Notice Date, Tenant's holdover Rent and Additional Rent shall cease as of the date which is forty-five (45) days prior to the Holdover Notice Date, or (b) is later than the Holdover Notice Date, Tenant's obligation to pay holdover Rent and Additional Rent shall cease as of the Actual Surrender Date, provided that Tenant shall have no right to holdover beyond the earlier to occur of fifteen (15) days after the Holdover Notice Date or the expiration of the one hundred twenty (120) period specified in the first sentence of this Article 16 above. By way of example only, and not as a limitation upon the foregoing, if the Holdover Notice indicates that the Holdover Notice Date is ninety (90) days after the expiration of the Lease Term or applicable Extension Term, Tenant shall be permitted to retain possession of holdover until the Premises date which is one hundred five (105) days after the expiration of the Lease Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up applicable Extension Term and Tenant's obligation to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted pay holdover term, then such election Rent and Additional Rent shall be deemed to have been for prorated on a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all per diem basis until the later of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten forty-fifth (110%45th) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant day after the expiration of the Lease Term or applicable Extension Term or the Actual Surrender Date. Nothing contained in this Article 16 shall be construed as consent by Landlord to any termination holding over by Tenant (except as expressly provided in this Article 16 above), and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration of the Lease Term (or the period specified in clause 16(b) above, as applicable). The provisions of this Lease by Landlord, Article 16 shall not be deemed to limit or as an exclusive remedy in the event constitute a waiver of a holdover. There shall be no renewal any other rights or remedies of this Lease by operation of Landlord provided herein or at law. This Paragraph 19(fIf Tenant fails to surrender the Premises within the period specified in this Article 16 above, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) shall survive and liability resulting from such failure, including, without limiting the termination generality of this Lease the foregoing, any claims made by lapse any succeeding tenant founded upon such failure to surrender (including such tenant's lost profits) and any lost profits to Landlord resulting therefrom, provided Landlord promptly notified Tenant in writing of time any lease or otherwisesigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Sources: Office Lease (Peregrine Systems Inc)
Holding Over. Provided If Tenant gives holds over after the Term with the express written consent of Landlord, such tenancy shall be from month to month only and shall not be a renewal hereof, and Tenant shall pay as Rent to Landlord not less than two hundred seventy for the use and occupancy of the Premises for each month Tenant holds over an amount agreed to be one and one-half (2701.5) days advance times the Rent which is due on the last month of the Term, and Tenant shall also comply with all of the terms, covenants, conditions, provisions and agreements of this Lease for the time during which Tenant holds over. If without the express written notice (the “Holdover Notice”)consent of Landlord, Tenant shall be permitted fail to retain possession of vacate the Premises after the expiration of the Term without or sooner termination of this Lease for any modification of cause or after Tenant's right to occupy the Premises ceases, thereafter, and notwithstanding anything to the contrary contained elsewhere in this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election 's continued possession shall be deemed to have been for on the basis of a period of six (6) months. Tenant’s occupancy during such permitted holdover tenancy at sufferance and Tenant shall be pursuant to otherwise comply with all of the terms terms, covenants, conditions, provisions and conditions agreements of this LeaseLease for the time during which Tenant holds over, except that Tenant shall pay Base as Rent in to Landlord for the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in use and occupancy of the Premises without for each month Tenant holds over an amount agreed to be (i) one and one-half (1.5) times the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession Rent which is due on the last month of the Premises, Tenant shall pay rent in an amount equal to term for the first two hundred percent (200%2) months of such holdover period and (ii) two (2) times the Base Rent in effect immediately prior to which is due on the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration last month of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.after such first two
Appears in 1 contract
Holding Over. Provided If a Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (Party fails to vacate the “Holdover Notice”)Premises after the Expiration Date or earlier termination of this Lease, then a Tenant Party's possession of the Premises shall constitute and be construed as a tenancy at will only, subject, however, to all of the terms, provisions, covenants and agreements on the part of Tenant under this Lease, and such Tenant Party shall be permitted subject to retain immediate eviction and removal following thirty (30) days’ prior written notice; Tenant or any such Tenant Party covenants and agrees to pay Landlord, in addition to the other Rent due hereunder, if any, as Rent for the period of such holdover a prorated daily Base Rent equal to the sum of one hundred fifty percent of the daily Base Rent plus one hundred percent of the Additional Rent, both payable during the last month of the Term. Tenant's unauthorzied possession of the Premises after the expiration of the Term without any modification Expiration Date or earlier termination of this Lease, except as provided Lease shall constitute an Event of Default under Section 19.5 herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that the notice and cure period shall be thirty (30) days. The Rent during such holdover period shall be payable to Landlord from time to time on demand; provided, however, if no demand is made during a particular month, holdover rent accruing during such month shall be paid in accordance with the provisions of this Section 17. Tenant shall pay Base Rent in will vacate the amount Premises and deliver same to Landlord immediately upon Tenant's receipt of one hundred ten notice from Landlord to so vacate. No holding over by a Tenant Party (110%) whether with or without the consent of Landlord), and no payments of money by Tenant to Landlord after the Base Rent in effect immediately prior to the expiration end of the Term, plus all shall operate to reinstate, continue or extend the Term, and no extension of this Term shall be valid unless evidenced by a writing signed by both Landlord and Tenant. No payments of money by Tenant (other Rent provided for in this Lease, except that, after than the expiration of holdover rent accruing during such elected (or deemed elected) holdover period paid in accordance with the foregoing provisions of this Paragraph 19(fSection 17) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time to Landlord after the expiration Expiration Date or earlier termination of this Lease during which Tenant remains in occupancy shall constitute full payment of Rent under the Premises without the express right to do so under terms of this Paragraph 19(f), Lease. Tenant shall be liable for all damages resulting from a tenantTenant Party's unauthorized holding over beyond the above-at-sufferance, referenced thirty (30) day notice and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisecure period.
Appears in 1 contract
Sources: Commercial Lease Agreement (Crossroads Systems Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises or any part thereof after the expiration of the Term Lease Term, such occupancy shall constitute and be construed as a month-to-month tenancy only, and Tenant shall pay, as holdover rent, on a per month basis (without any modification reduction for partial months during the holdover) (i) during each of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six first three (63) months after of any such holding over, the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period sum of six (6a) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of at a rate equal to one hundred ten twenty-five percent (110125%) of the monthly installment of Base Rent in effect immediately prior to applicable hereunder during the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination last month of the Lease Term, plus (b) all other monthly Additional Rent provided for in this Leaseapplicable hereunder during the last month of the Lease Term; and (ii) during each month after the first three (3) month period of any such holding over, and otherwise subject the sum of (A) Base Rent at a rate equal to one hundred fifty percent (150%) of the monthly installment of Base Rent applicable hereunder during the last month of the Lease Term, plus (B) all monthly Additional Rent applicable hereunder during the covenants and last month of the Lease Term. The foregoing provisions of this Lease insofar as the same are applicable Section 3.5 shall not be construed to such tenancy. If give Tenant remains any right to remain in possession of the Premises or any part thereof after termination the expiration of this the Lease without Landlord’s acquiescence or consentTerm, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by prevent Landlord to the from immediate recovery of possession of the Premises by summary proceedings or otherwise, or to waive any of Landlord's rights under this Lease to collect any damages to which it may be entitled, whether direct or consequential; provided, however, that Tenant after the expiration shall only be liable for consequential damages incurred by Landlord in connection with Tenant’s holdover if (1) Landlord provides Tenant with at least thirty (30) days prior written notice that Landlord has received a bona fide written offer to lease all or any portion of the Term Premises from an existing tenant of the Building or any termination a prospective tenant, which proposal Landlord is prepared to accept; and (2) Tenant has failed to vacate the Premises within thirty (30) days after receipt of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise’s written notice.
Appears in 1 contract
Sources: Office Lease (Copart Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration or earlier termination of this Lease with the express written consent of Landlord, Tenant's occupancy shall be a month-to-month tenancy at a rent agreed upon by Landlord and Tenant, but in no event less than the greater of (i) one hundred fifty percent (150%) of the Term without any modification Monthly Rent, Tenant's Electrical Charge and Additional Rent payable under this Lease during the last full month prior to the date of the expiration of this Lease, except Lease or (ii) the fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided hereinin the preceding sentence, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election month-to-month tenancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord's acceptance of rent after such holding over with Landlord's written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord's consent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to the greater of (i) one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided fair market rental (as reasonably determined by Landlord) for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to or (ii) two hundred percent (200%) of the Base Monthly Rent, Tenant's Electrical Charge and Additional Rent in effect immediately payable under this Lease for the last full month prior to the date of such expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term hereof, with or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification further term, and in such case the monthly Base Rent shall be adjusted upward from the monthly Base Rent payable under the Lease during the last month of this the Term of the Lease, except as provided herein, or other written agreement between taking into account the parties for a period of up rent abatement with respect to six (6) months after the Expiration Date, as specifically elected Abated Space set forth in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all Section 3.2 of the terms and conditions Lease ("Final Month's Base Rent") commencing as of this Lease, except that Tenant shall pay Base Rent in the amount second (2nd) month of such month to month tenancy as follows: (i) to one hundred ten twenty-five percent (110125%) of the Final Month's Base Rent in effect immediately prior to for the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration second (2nd) month of such elected month-to-month tenancy,- (or deemed electedii) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two one hundred forty percent (200140%) of the Final Month's Base Rent in effect immediately prior for the third (3rd) month of such month-to-month tenancy; and (iii) to the expiration or termination one hundred fifty percent (150%) of the Lease Term, plus all other Final Month's Base Rent provided for in this Lease, the fourth (4th) month of such month-to-month tenancy and otherwise subject to all the covenants and provisions for any month of this Lease insofar as the same are applicable to such tenancymonth-to-month tenancy thereafter. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant Such month-to-month tenancy shall thereupon be subject to summary eviction as provided by Lawevery other term, covenant and agreement contained herein. Nothing contained in this paragraph Article 16 shall be construed as a consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises by to Landlord as provided in the Lease upon the expiration or other termination of the Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant after acknowledges that if Tenant holds over without Landlord's consent, such holding over may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to surrender the Premises upon the termination or expiration of the Term or Lease, in addition to any termination other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such failure, including, without limiting the generality of this Lease the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender, and any losses suffered by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseincluding lost profits, resulting from such failure to surrender.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of the Premises after the expiration or termination of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails right to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all possession of the terms and conditions of this LeasePremises, except that Tenant shall pay (i) Base Rent in during the amount first thirty (30) days of the holdover at one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of preceding such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferanceholdover, and until Tenant relinquishes possession of thereafter pay Base Rent during the Premises, Tenant shall pay rent holdover in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of preceding such holdover, plus (ii) Additional Rent and all other amounts otherwise payable under the Lease Term(including, plus all other Rent provided without limitation, Excess Expenses) computed on a per diem basis for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If each day that Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, and Tenant shall thereupon be subject to summary eviction perform all of its other obligations under the Lease. Tenant shall also pay, indemnify and defend Landlord from and against all claims and damages, consequential as provided well as direct, sustained by Law. Nothing in this paragraph shall be construed reason of Tenant’s holding over, provided, however, that so long as a consent by Landlord to Tenant pays the possession of holdover rent described herein above, and the holdover terminates and Tenant vacates the Premises in the condition required by Tenant after the Lease on or before the date which is the earlier of sixty (60) days following the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of Tenant’s right of possession, Tenant shall have no liability to Landlord for consequential damages; otherwise, Tenant shall be so liable. The provisions of this Section do not waive Landlord’s right of re-entry or right to regain possession by actions at law or in equity or any other rights hereunder, and any receipt of payment by Landlord shall not be deemed a consent by Landlord to Tenant’s remaining in possession or be construed as creating or renewing any Lease by lapse or right of time or otherwisetenancy between Landlord and Tenant.
Appears in 1 contract
Sources: Office Lease (Houghton Mifflin Co)
Holding Over. Provided If possession of the Premises is not surrendered to Landlord on the Termination Date or sooner termination of this Lease, in addition to any other rights or remedies Landlord may have hereunder or at law, Tenant gives Landlord not less than two hundred seventy shall (270i) (A) during the first thirty (30) days advance written notice after the Termination Date, pay a use and occupancy charge in an amount equal to one hundred percent (100%) of Total Rent in effect during the “Holdover Notice”)last month of the Term applicable only to the entire floor(s) then being occupied by Tenant (it being the intent of the parties hereto that if Tenant shall have vacated one (1) or more floors, Tenant shall be permitted obligated to retain pay holdover rent only for the entire space leased on such floor(s) it then occupies). By way of example, if Tenant shall have vacated the entire fifth (5th) and sixth (6th) floors by the Termination Date and shall remain in possession of one-half (1/2) of the tenth (10th) floor portion of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Termination Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent a use and occupancy charge for the entire tenth (10th) floor portion of the Premises during the first thirty (30) days after the Termination Date in an amount equal to two one hundred percent (200100%) of the Base Total Rent in effect during the last month of the Term. Notwithstanding anything contained in the immediately preceding sentence, in the event Landlord shall have delivered written notice to Tenant at least thirty (30) days prior to the expiration Termination Date stating that (i) Landlord has or termination is about to enter into a new lease or an amendment to an existing lease with any new or existing tenant for all or a portion of the Lease TermPremises in which Tenant is to hold over; and (ii) Tenant holds over in all or any portion of such portion of the Premises after the Termination Date, plus all other then Tenant shall (i) (A) during the first thirty (30) days after the Termination Date, pay a use and occupancy charge in an amount equal to one hundred percent (100%) of Total Rent provided for in this Lease, and otherwise subject to all effect during the covenants and provisions last month of this Lease insofar as the same are Term applicable to such tenancythe entire Premises. If Following the above-described thirty (30) day period, if Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the retains possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive part thereof after the termination of this Lease the above-described 30-day period, by lapse of time or otherwise, Tenant shall as a charge for the use of the Premises, pay Landlord rent on the entire Premises at one hundred fifty percent (150%) the rate of Base Annual Rent and one hundred percent (100%) of the Adjustments payable for the year immediately preceding said holdover, computed on a monthly basis for each month Tenant thus remains in possession. Tenant shall also pay Landlord’s actual damages which are a direct result of Tenant’s holdover (but not consequential damages). Any retention of the Premises after the termination of this Lease or any extension thereof shall be considered as a month-to-month holdover. The provisions of this paragraph do not waive Landlord’s right of re-entry or any other rights hereunder.
Appears in 1 contract
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain retains possession of any portion of the Premises after the expiration of or the Term without any modification earlier termination of this Lease, except as provided hereinthen unless City expressly agrees to the holdover in writing, or other written agreement between Tenant will pay City, on a month-to-month basis, Base Rent equal to (a) two (2) times the parties Base Rent per month for a period the first 30 days, (b) three (3) times the Base Rent per month for the next 30 days, and (c) of up to six four (64) months after times the Expiration DateBase Rent per month thereafter, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall and will otherwise be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of on the terms and conditions specified in this Lease so far as applicable (except for those pertaining to the Term and any Extension Options). Any failure by ▇▇▇▇▇▇ to surrender, discontinue using, or, if required by City, any failure to remove any property or equipment following written demand by City, will constitute continuing possession for purposes of this LeaseSection. Tenant acknowledges that the foregoing provisions do not serve as permission for the Tenant to hold over or serve to extend the Term. Any holding over without City’s consent will constitute a default by Tenant and entitle City to exercise any or all of its remedies, except notwithstanding that Tenant shall pay City may elect to accept one or more payments of Rent, and whether or not the amounts are at the holdover rate specified above or the rate in effect at the end of the Term. Any holding over after the expiration of the Term with City’s express written consent will be construed to automatically extend the Term on a month-to-month basis at a Base Rent as determined in writing by the amount General Manager of the SFPUC up to one hundred ten fifty percent (110150%) of the latest Base Rent payable by Tenant before the expiration, and will otherwise be on the terms and conditions specified in effect immediately prior this Lease so far as applicable (except for those pertaining to the expiration of the TermTerm and any Extension Options), plus all other Rent provided for in this Lease, except thatthat City may withdraw its consent to such holding over upon thirty (30) days’ notice, after which the expiration of such elected Base Rent shall be as specified in subsection (or deemed electeda) holdover period the foregoing provisions of above. Tenant’s obligations under this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after Section will survive the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Office Lease
Holding Over. Provided Any holding over by Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this LeaseLease (which term shall include, except as provided hereinwithout limitation, the failure of Tenant or other written agreement between the parties for a period any Tenant Party to perform all of up to six (6its obligations under Section 16.4 above) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for treated as a period of six (6) months. Tenant’s occupancy during such permitted holdover monthly tenancy at will and shall be pursuant to all of on the terms and conditions of as set forth in this Lease, as far as applicable, except that Tenant shall pay Base Rent in as a use and occupancy charge an amount (the amount of one “Holdover Charge”) equal to:
(a) One hundred ten percent (110100%) of the Base Annual Fixed Rent in effect immediately prior to calculated (on a daily basis) at the expiration of rate payable under the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination terms of this Lease during which Tenant remains in occupancy for the last month of the Premises without then Term for the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession initial thirty (30) days of such holding over;
(b) One hundred fifty percent (150%) of the Premises, Tenant shall pay rent in an amount equal to two Annual Fixed Rent calculated (on a daily basis) at the rate payable under the terms of this Lease for the last month of the then Term for the subsequent sixty (60) days of such holding over; and
(c) Two hundred percent (200%) of the Base Annual Fixed Rent calculated (on a daily basis) at the rate payable under the terms of this Lease for the last month of the then Term for the balance of the term of such holding over.
(d) Plus in, all cases, one hundred percent (100%) of all Additional Rent otherwise due and payable hereunder. Each of the foregoing holding over periods shall be measured from the day on which Tenant’s hold-over commences and shall terminate on the day on which Tenant vacates the Premises. In addition to the foregoing, if Tenant holds over in effect immediately the Premises for more than one hundred twenty (120) days after the expiration of the then Term, 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 direct and actual damages (exclusive of any consequential damages) which Landlord may suffer on account of Tenant’s holding over in the Premises after the expiration or prior termination of the Term of this Lease, such Holdover Charge and the reimbursement for all direct and actual damages being Landlord’s sole and exclusive rights and remedies against Tenant in the case of Tenant’s holding over in the Premises beyond the expiration of the then Term of the Lease. Nothing in the foregoing nor any other term or provision of this Lease shall be deemed to permit Tenant to retain possession of the Premises or hold over in the Premises after the expiration or earlier termination of the Lease Term. All property which remains in the Office Area or the Premises upon the expiration or termination of this Lease or, if applicable, the Lease Term, plus all other Rent provided for expiration of any occupancy in this Lease, and otherwise subject to all accordance with the covenants and holdover provisions of this Lease insofar Section 16.18, shall be conclusively deemed to be abandoned and may either be retained by Landlord as the same are applicable to its property or sold or otherwise disposed of in such tenancymanner as Landlord may see fit. If any part thereof shall be 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 Tenant remains in possession after termination of to Landlord and any damages to which Landlord may be entitled under this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing and at law and in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseequity.
Appears in 1 contract
Sources: Lease Agreement (CarGurus, Inc.)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), 3.5.1 Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or not hold over at any other time after the expiration and Landlord may exercise any and all remedies at law or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right equity to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes recover possession of the Premises, as well as any damages incurred by Landlord, due to Tenant’s failure to vacate the Premises and deliver possession to Landlord as required by this Lease. If Tenant shall fail to surrender the Premises to Landlord on the Surrender Date in accordance with the provisions of Section 3.4 above, Tenant shall pay rent in to Landlord, as use and occupancy for each month or fraction thereof during which Tenant continues to occupy the Premises after the Surrender Date (the “Continued Occupancy Period”), an amount of money (the “Occupancy Payment”) equal to two one hundred fifty percent (200150%) of the monthly Base Rent in effect immediately prior to payable during the expiration or termination last year of the Term plus one-twelfth (1/12) of the annual Additional Rent payable under Sections 4 and 8 of this Lease during the last year of the Term. Tenant shall make the Occupancy Payment, plus without notice or demand, on the first day of each and every month during the Continued Occupancy Period. The receipt and acceptance by Landlord of all or any portion of the Occupancy Payment shall not be deemed a waiver or acceptance by Landlord of Tenant’s breach of Tenant’s covenants and agreements under Section 3.4 or this Section 3.5, or a waiver by Landlord of Landlord’s right to institute any summary holdover proceedings against Tenant, or a waiver by Landlord of any other Rent of Landlord’s rights or remedies against Tenant in such event as provided for in this Lease, and otherwise subject Lease or under Law.
3.5.2 In addition to making all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consentrequired Occupancy Payments, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlordshall, or as an exclusive remedy in the event of a holdover. There shall be no renewal Tenant’s failure to surrender the Premises on the Surrender Date in accordance with the provisions of Section 3.4 above, also indemnify and hold Landlord harmless from and against any and all loss or liability resulting from any delay by Tenant in so surrendering the Premises, including any special damages or claims Landlord may suffer by reason of any claims made by any succeeding occupant founded on such delay, and any reasonable attorneys’ fees, disbursements and court costs incurred by Landlord in connection with the foregoing.
3.5.3 Tenant expressly waives, for itself and for any person claiming by, through or under Tenant, any rights which Tenant or any such persons may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules, and of any successor law of like import then in force, in connection with any summary holdover proceedings which Landlord may institute to enforce the provisions of this Lease by operation Article 3.
3.5.4 Tenant’s obligation to observe or perform each and every one of law. This Paragraph 19(f) the covenants set forth in Section 3.4 and this Section 3.5 shall survive the expiration or other termination of this Lease by lapse of time or otherwisethe Term.
Appears in 1 contract
Sources: Office Lease (GrubHub Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term with the express written consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Base Rent shall be payable at a monthly rate of one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease. Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after the expiration of the Lease Term without the express written consent of Landlord, such tenancy shall be a tenancy at sufferance, and shall not constitute a renewal hereof or an extension for any modification further term, and in such case daily damages in any action to recover possession of the Premises shall be calculated at a daily rate equal to one hundred fifty percent (150%) of the Base Rent applicable during the last rental period of the Lease Term under this LeaseLease (calculated on a per diem basis). Notwithstanding the foregoing, except as provided hereinTenant shall have the one-time right, or other written agreement between upon notice (the parties "Holdover Notice") to Landlord not less than six (6) months prior to the expiration of the Lease Term, to extend the Lease Term for a period of up to six three (63) months after (which period shall be set forth in the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s ) (the "Permitted Holdover Notice fails to elect a permitted holdover termTerm"), then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy in which case the Base Rent payable by Tenant during such permitted holdover Permitted Holdover Term shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of equal (a) one hundred ten twenty-five (110125%) of the Base Rent in effect immediately prior to applicable during the expiration last rental period of the Lease Term under this Lease for the first month of any such Permitted Holdover Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected and (or deemed electedb) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two one hundred fifty percent (200150%) of the Base Rent applicable during the last rental period of the Lease Term under this Lease for the second and/or third months of any such Permitted Holdover Term. Except with respect to the Permitted Holdover Term, nothing contained in effect immediately prior this Article 16 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to vacate and deliver possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant holds over without Landlord's express written consent, and tenders payment of rent for any period beyond the expiration of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire transfer, Tenant acknowledges and agrees that the cashing of such check or acceptance of such wire shall be considered inadvertent and not be construed as creating a month-to-month tenancy, provided Landlord refunds such payment to Tenant promptly upon learning that such check has been cashed or wire transfer received. Tenant acknowledges that any holding over without Landlord’s express written consent may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and deliver the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from and against all claims made by any succeeding tenant founded upon such failure to vacate and deliver, and any losses suffered by Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Premises, whether before or after expiration of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject shall be considered an action to all enforce the covenants and provisions terms of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession for purposes of the Premises by Tenant after the expiration awarding of the Term or any termination of this Lease by Landlord, or as an exclusive remedy attorney’s fees in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseconnection therewith.
Appears in 1 contract
Sources: Office Lease (DermTech, Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy holds over or occupies the Premises beyond the Lease Term (270) days advance it being agreed there shall be no such holding over or occupancy without Landlord's written notice (the “Holdover Notice”consent), Tenant shall be permitted pay Landlord for each day of such holding over a sum equal to retain possession the following percentage of the Premises after monthly rent applicable hereunder at the expiration of the Lease Term without any modification (including Operating Expenses), prorated for the number of this Lease, except as provided herein, or other written agreement between days of such holding over: (a) one hundred twenty-five percent (125%) for the parties for a period of up to six first thirty (630) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all days of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of hold over period; (b) one hundred ten fifty percent (110150%) for the second thirty (30) days of the Base Rent in effect immediately prior to hold over period; (c) one hundred seventy- five percent (175%) for the expiration third thirty (30) days of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected hold over period; and (or deemed electedd) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) thereafter. In such event, Tenant shall occupy the Premises as a tenant at sufferance, and all of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants terms and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed applicable, with the exception of the rent applicable during such holding over period, which shall be increased as aforesaid. Tenant agrees that Landlord may institute a consent by Landlord to the forcible detainer or similar action against Tenant or any other party in possession of the Premises without serving any demand for possession, demand to vacate, notice of termination or similar demand or notice upon Tenant or such party in possession. Tenant will also be liable to Landlord for and indemnify Landlord against: (i) any payment or rent concession which Landlord may be required to make to any tenant obtained by Landlord for all or any part of the Premises (a “New Tenant”) by reason of the late delivery of space to the New Tenant as a result of Tenant’s holding over or failure to surrender the Premises in the manner required by this Lease or in order to induce such New Tenant not to terminate its lease by reason of the holding over by Tenant or failure to surrender the Premises in the manner required by this Lease; and (ii) any claim for damages by any New Tenant. No holding over by Tenant after the expiration Lease Term shall operate to extend the Lease Term. Notwithstanding the foregoing, the acceptance of the Term any use and occupancy charges paid by Tenant pursuant to this Paragraph shall not preclude Landlord from commencing and prosecuting a holdover or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisesummary eviction proceeding.
Appears in 1 contract
Sources: Lease Agreement (Precision Optics Corporation, Inc.)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain If ▇▇▇▇▇▇ remains in possession of the Premises after the expiration of the Term without any modification or earlier termination of this LeaseLease with the express written consent of Landlord, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant a month-to-month tenancy at a rent agreed upon by Landlord and Tenant, but in no event less than the greater of (i) one hundred fifty percent (150%) of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior to all the date of the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. ▇▇▇▇▇▇▇▇’s acceptance of rent after such holding over with ▇▇▇▇▇▇▇▇’s written consent shall not result in any other tenancy or in a renewal of the original Term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s consent, ▇▇▇▇▇▇’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount equal to the greater of (i) one hundred ten fifty percent (110150%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided fair market rental (as reasonably determined by Landlord) for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to or (ii) two hundred percent (200%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 1 contract
Sources: Industrial Lease (Scilex Holding Co)
Holding Over. Provided Should Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted continue to retain possession of occupy the Premises after the expiration of the Lease Term without any modification the prior written consent of this LeaseLandlord, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election occupancy shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to tenancy at sufferance under all of the terms terms, covenants and conditions of this Lease, except that Tenant shall pay but at a daily Base Rent in Rental (the amount of “Holdover Rent”) equal to the sum determined by dividing one hundred ten and fifty percent (110150%) of the Base Rent Rental then in effect immediately prior to the expiration of the Lease Term, plus all other Rent provided electricity and any sums due pursuant to Section 6, for in this Leasethe final month of the Lease Term by thirty (30); provided, except thathowever, if Tenant has given Landlord written notice of its intent to holder after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After Lease Term at least 150 days prior to the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f)Term, Tenant shall be may holdover for a tenant-at-sufferance, and until Tenant relinquishes possession period of up to 90 days (the Premises, Tenant shall pay rent in an amount equal to two “Grace Period”) at a Holdover Rent calculated as provided above but using one hundred twenty five percent (200125%) of the Base Rent in effect immediately prior Rental instead of one hundred and fifty percent (150%). Tenant shall also pay any and all costs, expenses or damages (including consequential damages) sustained by Landlord as a result of such holdover, other than during the Grace Period, if Landlord has undertaken a legal obligation to another tenant or third party relating to the Premises in reliance on Tenant vacating the Premises no later than the end of the Grace Period. If Tenant consists of more than one person or entity, and if any of the persons or entities comprising Tenant continue to occupy the Premises after the expiration or termination of the Lease Term, plus all other Rent provided persons or entities comprising Tenant shall be deemed to have consented to such occupancy and shall continue to be jointly and severally liable for all of the terms, covenants and contained in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseduring holdover term.
Appears in 1 contract
Holding Over. Provided Tenant gives shall pay Landlord not the fair rental value of the Premises, as determined by Landlord (but in no event less than two hundred seventy (270150% of the Adjusted Monthly Base Rent the first then-applicable under this Lease) days advance written notice (for the “Holdover Notice”), first month or partial month during which Tenant shall be permitted to retain retains possession of the Premises after the expiration Premises, or any part of the Term without any modification of this LeasePremises, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease Lease, and 200% of the fair rental value of the Premises, as determined by Landlord (but in no event less than 200% of the Adjusted monthly Base Rent then applicable under this Lease) for each subsequent month or partial month during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f)retains, Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) or any part of the Base Rent in effect immediately prior to Premises, after the expiration or termination of this lease. Tenant shall also indemnify Landlord against all liabilities and damages sustained by Landlord by reason of any such retention of possession. The provisions of this Article shall not constitute a waiver by Landlord of any re-entry rights of Landlord available under this Lease or by law. If Tenant retains possession of the Lease TermPremises, plus or any part of the Premises, for 30 days after the expiration or termination of this Lease, then Landlord, at Landiord's election expressed in written notice to Tenant but not otherwise, may, in addition to all other Rent provided rights and remedies available to Landlord under this Lease, constitute such holding over- as a renewal of this Lease for a period of one year on the same provisions as are set forth in this Lease, and otherwise subject but for a Monthly Base Rent equal to all the covenants and provisions then fair monthly base rental value of this Lease insofar the Premises, as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent determined by Landlord to (but in no event less than the possession of the Premises Monthly Base Rent then payable by Tenant after the expiration of the Term or any termination of under this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease).
Appears in 1 contract
Sources: Office Lease (Spyglass Inc)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term without hereof, or any modification extension thereof pursuant to Section 2.2 of this Lease, except as provided hereinwith or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or other written agreement between the parties an extension for a period of up to six (6) months after the Expiration Dateany further term, as specifically elected and in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election case Rent shall be deemed payable at a monthly rate equal to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to applicable during the expiration last rental period of the Term, plus all other Rent provided Lease Term under this Lease for in this Lease, except that, after the expiration first two (2) months of such elected holdover and at a monthly rental rate equal to one hundred fifty percent (or deemed elected150%) holdover of the Rent applicable during the last rental period of the foregoing provisions of Lease Term under this Paragraph 19(fLease for the third (3rd) shall no longer be effective. After the expiration month of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferanceholdover, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount at a monthly rental rate equal to two hundred percent (200%) of the Base Rent in effect immediately prior to applicable during the expiration or termination last rental period of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of Term under this Lease insofar as the same are applicable to such tenancythereafter. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant Such month-to-month tenancy shall thereupon be subject to summary eviction every other term, covenant and agreement contained herein. Except as specifically provided by Law. Nothing above, nothing contained in this paragraph Article 16 shall be construed as a consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises by Tenant after to Landlord as provided in this Lease upon the expiration of the Term or any other termination of this Lease Lease. The provisions of this Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant acknowledges that if Tenant holds over without Landlord's consent, such holding over may compromise or otherwise affect Landlord's ability to enter into new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender, and any losses suffered by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseincluding lost profits, resulting from such failure to surrender.
Appears in 1 contract
Holding Over. Provided If Tenant gives has provided notice to Landlord not less than two hundred seventy at least ninety (27090) days advance written notice (the “Holdover Notice”), Tenant shall be permitted prior to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for such notice to include a time period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of not exceeding six (6) months. Tenant’s occupancy during such permitted ) (the “Permitted Hold- Over Period”) in which Tenant intends to remain in the Premises, Tenant shall have the right to holdover shall be pursuant to all of possession for the Permitted Hold-Over Period under the same terms and conditions of this Leaseas the previous term, except that Tenant shall pay Base Rent in the amount of shall be one hundred ten twenty-five percent (110125%) of the Base Rent in effect immediately prior to the expiration of Permitted Hold- Over Period, but Tenant may terminate the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or Permitted Hold-Over Period at any time upon thirty (30) days’ notice to Landlord. In the event such holdover possession exceeds the Permitted Hold-Over Period or in the event of any other time after the expiration or holdover (including following an early termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(fby Tenant), Tenant such possession shall be month-to-month at a tenant-at-sufferance, and until Tenant relinquishes possession rate of the Premises, Tenant shall pay rent in an amount equal to two one hundred fifty percent (200150%) of the Base Rent in effect immediately prior to the holdover possession and subject to termination by Landlord or Tenant upon thirty (30) days’ notice to the other party at any time. During any holdover possession as provided herein, all of the other terms and provisions of this Lease (excluding any expansion or extension option or other similar right or option) shall be applicable during such holdover period. All other payments shall continue under the terms of this Lease during any period of holdover possession. In addition and subject to Section 35(m), if (a) Tenant has not vacated the Premises following the expiration of the Lease Term or termination the Permitted Hold- Over Period, as applicable, and (b) Landlord provides Tenant not less than ninety (90) days’ prior notice of the amount of any of the following damages that Landlord will incur as a result of Tenant’s failure to vacate the Premises at the end of such ninety (90)-day period, then if Tenant fails to vacate within the later to occur of (i) the expiration of the Lease Term, plus all other Rent provided for in this Lease(ii) any Permitted Hold-Over Period, and otherwise subject to all the covenants and provisions (iii) ninety (90) days after receipt of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consentnotice, Tenant shall thereupon be subject liable to summary eviction as provided Landlord for the rental revenue lost by Law. Nothing in this paragraph shall be construed Landlord solely as a consent by Landlord to the possession result of the Premises by Tenant after the expiration holdover (other than as a result of a termination of any executed lease for any portion of the Term Premises), and any amounts Landlord is required to pay to any new tenant (whether in the form of rent abatement, monetary damages, or otherwise) solely as a result of the holdover, but Tenant will not be liable for any termination indirect or consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease by Landlord, or except as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseotherwise expressly provided herein.
Appears in 1 contract
Sources: Lease Agreement (ROX Financial LP)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”)will, Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise, yield up immediate possession of the Premises to Landlord, free of all tenancies and occupancies and otherwise in the condition required under this Lease. If Tenant retains possession of the Premises or any part thereof after such expiration or termination, then Landlord may, at its option, serve written notice upon Tenant that such holding over constitutes either of (i) creation of a month-to-month tenancy, upon the terms and conditions set forth in this Lease, or (ii) creation of a tenancy at sufferance, in any case upon the terms and conditions set forth in this Lease; provided, however, that the monthly Rent (or daily Rent under (ii)) shall, in addition to all other sums which are to be paid by Tenant hereunder, whether or not as Additional Rent, be equal to the greater of (x) the fair market rent for the Premises, or (y) one hundred fifty percent (150%) of the sum of Rent plus Additional Rent owed monthly to Landlord under this Lease immediately prior to such expiration or termination (prorated in the case of (ii) on the basis of a 365 day year for each day Tenant remains in possession); provided that, with respect to the first (1st) ninety (90) days of any such holdover, the amount calculated under the foregoing clause (y) shall be based on one hundred twenty-five percent (125%), rather than one hundred fifty percent (150%). If no such notice is served, then a tenancy at sufferance shall be deemed to be created at the Rent in the preceding sentence. Tenant shall also pay to Landlord as Additional Rent all damages sustained by Landlord resulting from retention of possession by Tenant, including, but not limited to, all brokerage commissions and reasonable legal fees incurred in connection with any lease for all or a part of the Premises to a replacement tenant which is canceled or terminated as a result of such holdover, plus a reasonable vacancy allowance equal to the period reasonably estimated by Landlord to be necessary to identify another replacement tenant, negotiate a lease with such replacement tenant, and build-out the Premises (or such portion thereof as shall be leased) for such replacement tenant; provided that, except to the extent expressly enumerated in the foregoing provisions of this sentence, Tenant shall not be liable for any indirect, consequential or punitive damages as a consequence of any holdover. The provisions of this section shall not constitute a waiver by Landlord of any right of re-entry as herein set forth; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord's right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant's part to be performed.
Appears in 1 contract
Holding Over. Provided Tenant gives Landlord not less than two may remain in the Premises for a specified time period (up to one hundred seventy eighty (270180) days advance written notice days) following the Term expiration (the “Holdover NoticeOperational Extension”) by notifying Landlord of its intention prior to the Extension Notice Deadline (the “Operational Extension Option”). The Operational Extension will be under the same terms and conditions in effect during the immediately previous Term. In the event a holdover possession exceeds the Operational Extension, Tenant shall or in the event of any other holdover (including following an early termination by Tenant), such possession will be permitted to retain possession month-to-month at a rate of one hundred twenty- five percent (125%) of Ground Rent at the time of the Premises after holdover, provided that any annual increases in Ground Rent will continue to occur as contemplated by Addendum 1, and subject to termination by Landlord or Tenant upon thirty (30) days’ notice to the expiration of the Term without other party at any modification of this Leasetime. During any holdover possession, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the other terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which (excluding any expansion or similar option or right) will be applicable and all other payments will continue. Subject to Section 33, if (a) Tenant remains in occupancy of has not vacated the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after following the expiration of the Term or the Operational Extension, as applicable; and (b) Landlord provides at least thirty (30) days’ notice of the amount of any termination of the following damages that Landlord will incur as a result of Tenant’s failure to vacate the Premises at the end of such thirty (30)-day period, then if Tenant fails to vacate before the later of (i) the expiration of the Term; (ii) the expiration of any Operational Extension; or (iii) thirty (30) days after receipt of such notice, Tenant will be liable to Landlord for the rental revenue actually lost by Landlord solely as a result of the holdover from an executed lease, and any amounts Landlord is required to pay to any new tenant solely as a result of the holdover, but Tenant will not be liable for any other indirect or consequential damages. No holding over by ▇▇▇▇▇▇, whether with or without consent of Landlord, will operate to extend this Lease by Landlord, or except as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseotherwise expressly provided herein.
Appears in 1 contract
Sources: Ground Lease Agreement
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain remains in possession of the Premises after the expiration of the Term without any modification or earlier termination of this LeaseLease with the express written consent of Landlord, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant a month-to-month tenancy at a rent agreed upon by Landlord and Tenant, but in no event less than one hundred twenty-five percent (125%) of the Monthly Rent and one hundred percent (100%) of Additional Rent payable under this Lease during the last full month prior to all the date of the expiration of this Lease for the first one (1) month of any such holdover, and one hundred fifty percent (150%) of the Monthly Rent and one hundred percent (100%) of the Additional Rent Payable under this Lease during the last full month prior to the date of the expiration of this Lease for any holdover thereafter. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining to additional space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. Landlord’s acceptance of rent after such holding over with Landlord’s written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of this Lease without Landlord’s consent, Tenant’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay Base as Monthly Rent in during the holdover period an amount of equal to one hundred ten fifty percent (110150%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration date of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination for the first thirty (30) days of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, holdover and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to thereafter two hundred percent (200%) of the Base Monthly Rent in effect immediately and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwisetermination.
Appears in 1 contract
Sources: Office Lease (2U, Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Lease Term or earlier termination thereof, with or without the express or implied consent of Landlord, such tenancy shall be from month-to-month only, and shall not constitute a renewal hereof or an extension for any modification further term, and in such case Base Rent shall be payable at a monthly rate equal to the product of (A) the Base Rent applicable during the last rental period of the Lease Term under this Lease, except and (B) a percentage equal to one hundred fifty percent (150%). Such month-to-month tenancy shall be subject to every other applicable term, covenant and agreement contained herein. Tenant’s payment of Rent as set forth in this Article 16 shall be proportionately reduced for every floor of the Premises vacated by Tenant during any entire month of any holdover period such that Tenant shall only pay Rent for those floor(s) of the Building actually occupied by Tenant during all or a portion of any month of any holdover period; provided, however, to the extent that Landlord has entered into a third-party lease with respect to a portion of the Premises (and Landlord has provided herein, or other written agreement between to Tenant notice of such lease at least sixty (60) days prior to the parties for a period of up to six (6) months after the Lease Expiration Date), as specifically elected in and such Holdover Notice. If Tenant’s Holdover Notice fails third-party lease is applicable to elect a permitted holdover termone or more floors that Tenant has vacated and one or more floor that Tenant has failed to vacate, then such election Tenant shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to holding over is all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for space governed by such third-party lease. Nothing contained in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph Article 16 shall be construed as a consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises by Tenant after to Landlord as provided in this Lease upon the expiration of the Term or any other termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdoverLease. There shall be no renewal The provisions of this Lease by operation Article 16 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.
Appears in 1 contract
Sources: Office Lease (Unity Software Inc.)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises holds over after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease without the written consent of Landlord, Tenant shall pay as rent for the Leased Premises one hundred fifty percent (150%) the amount of Rent (including all Base Rental and Additional Rental then payable as described in Section 2.1) for the entire holdover period calculated and prorated on a daily basis. No holding over by Tenant after the Term shall be construed to extend this Lease. In the event of any unauthorized holding over by Tenant that continues for more than thirty (30) days, Tenant shall, in addition to the payment of holdover rent, indemnify Landlord (i) against all claims for damages by any other tenant to whom Landlord may have leased all or any part of the Leased Premises effective upon the termination of this Lease, and (ii) for all other losses, costs, and expenses, including reasonable attorneys' fees, incurred by reason of such holding over. Any holding over with the written consent of Landlord in writing shall thereafter constitute a lease from month to month. Notwithstanding the foregoing, the obligation of Tenant to pay rent during any holdover period shall apply only with respect to the floors on which Tenant remains in occupancy actually holds over provided that, for purposes of the Premises without the express right Tenant's obligation to do so under this Paragraph 19(f)pay such rent, Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession deemed (a) to occupy all of the Premises, Leased Premises on a floor if Tenant shall pay rent in an amount equal occupies any portion of such floor and (b) to two hundred percent (200%) occupy all floors within the Leased Premises leased to a new tenant if Tenant occupies any portion of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable space leased to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration of the Term or any termination of this Lease by Landlord, or as an exclusive remedy in the event of a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwise.new tenant
Appears in 1 contract
Sources: Office Space Lease Agreement (FSP Phoenix Tower Corp)
Holding Over. Provided If Tenant gives Landlord not less than two hundred seventy (270or any person holding under or through Tenant) days advance written notice (the “Holdover Notice”), Tenant shall be permitted to retain possession of the Premises after the expiration of the Term without any modification of this Lease, except as provided herein, or other written agreement between the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election shall be deemed vacate and surrender the Demised Premises to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of Landlord as required hereunder upon the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to the termination or expiration of the Term, plus all other Rent provided for in this Leasesuch holding over shall be, except thatas Landlord may elect pursuant to the next sentence, after as a tenant at sufferance (requiring 30 days’ notice of termination by either party to the other) at a monthly fixed rent (“Holdover Rent”) equal to (i) 125% (for the first thirty (30) days of any such holdover), (ii) 150% (for the next thirty (30) days of any such holdover), and (iii) thereafter, 200% of the greater of the Yearly Fixed Rent due hereunder for the last month of the Term or the rent being quoted by Landlord for comparable space in the Building at the time of the termination or expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f), Tenant shall be a tenant-at-sufferance, and until Tenant relinquishes possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions conditions (including obligations to pay Additional Rent under Sections 6.2 and 6.3) of this Lease insofar as the same are applicable to such though it had originally been a monthly tenancy. If Tenant remains Notwithstanding the foregoing, if Landlord desires to regain possession of the Demised 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 Demised Premises or any part thereof without process or by any legal process in possession after force in The Commonwealth of Massachusetts. Notwithstanding the establishment of any holdover tenancy following the expiration or earlier termination of this Lease without Landlord’s acquiescence the Term, if Tenant fails promptly to vacate the Demised Premises at the expiration or consentearlier termination of the Term, Tenant shall thereupon be subject save Landlord harmless and indemnified against any claim, loss, cost or expense (including reasonable attorneys’ fees) arising out of Tenant’s failure promptly to summary eviction as provided vacate the Demised Premises (or any portion thereof) and upon demand pay to Landlord any damages or loss incurred by Law. Nothing in this paragraph shall be construed Landlord as a consent by Landlord to the possession result of any delayed or terminated lease of all or part of the Premises by Tenant another party. Overtime HVAC is defined as heating or cooling after Business Hours. Business Hours for Riverfront Office Park are Monday through Friday 8AM to 6PM and Saturday 8AM to 12PM, Commonwealth of Massachusetts holidays excluded. A list of Tenant-authorized requestors shall be on file at the expiration Management Office, and Security Lobby Desk. It is the responsibility of the Term or any termination Tenant to maintain a current list and submit that list to Hines Management. Hines has provided a Heat Pump Location guide that should be distributed to each Tenant-approved requestor. Requestors should be prepared to reference this location guide when making a request for overtime HVAC. Additional copies of this Lease by Landlordmap may be obtained through the Management Office. Procedures for making a request: DURING BUSINESS HOURS
1. Tenant-authorized requestor may e-mail (C▇▇▇▇▇▇▇▇_▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇) or FAX attached “Overtime HVAC Request” form (see attached) to the Management Office at (▇▇▇) ▇▇▇-▇▇▇▇. Requestors should be familiar with the provided heat pump location map, or as an exclusive remedy in the event of and be prepared to reference a holdover. There shall be no renewal of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseheat pump location and number(s).
Appears in 1 contract
Sources: Agreement of Lease (Pegasystems Inc)
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance If, with Landlord’s express written notice (the “Holdover Notice”)consent, Tenant retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be permitted subject to retain immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without any modification the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease, Lease except as provided herein, or other written agreement between that the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election monthly rental shall be deemed equal to have been (i) for a period the first 60 days of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all holdover, 150% of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) of the Base Rent in effect immediately prior to during the expiration last 30 days of the Term, and thereafter, 200% of Base Rent in effect during the last 30 days of the Term, plus (ii) Tenant’s Share of Operating Expenses, plus (iii) all other Rent provided for in amounts payable by Tenant under this Lease, except that, after the expiration of such elected and (or deemed electedB) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer be effective. After the expiration of such permitted holdover period, or at any other time after if Tenant holds over for more than 60 days beyond the expiration or earlier termination of this Lease during which Tenant remains in occupancy of the Premises without the express right to do so under this Paragraph 19(f)Lease, then Tenant shall be a tenant-at-sufferanceresponsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over including, without limitation, consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and until this Section 8 shall not be construed as consent for Tenant relinquishes to retain possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent Acceptance by Landlord to the possession of the Premises by Tenant Rent after the expiration of the Term or any earlier termination of this Lease by Landlord, shall not result in a renewal or as an exclusive remedy in the event of a holdover. There shall be no renewal reinstatement of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Holding Over. Provided Tenant gives Landlord not less than two hundred seventy (270) days advance If, with Landlord’s express written notice (the “Holdover Notice”)consent, Tenant retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be permitted subject to retain immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable ActiveUS 179671324v.10 upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord and Tenant may agree, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without any modification the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease, Lease except as provided herein, or other written agreement between that the parties for a period of up to six (6) months after the Expiration Date, as specifically elected in such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, then such election monthly rental shall be deemed equal to have been for a period of six (6) months. Tenant’s occupancy during such permitted holdover shall be pursuant to all of the terms and conditions of this Lease, except that Tenant shall pay Base Rent in the amount of one hundred ten (110%) 150% of the Base Rent in effect immediately prior during the last 30 days of the Term (plus 100% of all other Additional Rent due under the Lease at the rate specified in the Lease), and (B) Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages; and provided that, unless Landlord gave written notice to Tenant at least 30 days before the expiration of the Term, plus all other Rent provided for in this Lease, except that, after the expiration of such elected (or deemed elected) holdover period the foregoing provisions of this Paragraph 19(f) shall no longer Term that a subsequent tenant would be effective. After the expiration of such permitted holdover period, or at any other time after the expiration or termination of this Lease during which Tenant remains in occupancy of leasing the Premises without the express right or any part thereof and that Landlord reasonably anticipates holding over, even for less than 30 days, is reasonably likely to do so under this Paragraph 19(f)impact Landlord’s delivery schedule to such new tenant, Tenant shall be a tenant-at-sufferanceresponsible for consequential damages only once Tenant’s holding over exceeds 30 days. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and until this Section 8 shall not be construed as consent for Tenant relinquishes to retain possession of the Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Base Rent in effect immediately prior to the expiration or termination of the Lease Term, plus all other Rent provided for in this Lease, and otherwise subject to all the covenants and provisions of this Lease insofar as the same are applicable to such tenancy. If Tenant remains in possession after termination of this Lease without Landlord’s acquiescence or consent, Tenant shall thereupon be subject to summary eviction as provided by Law. Nothing in this paragraph shall be construed as a consent Acceptance by Landlord to the possession of the Premises by Tenant Rent after the expiration of the Term or any earlier termination of this Lease by Landlord, shall not result in a renewal or as an exclusive remedy in the event of a holdover. There shall be no renewal reinstatement of this Lease by operation of law. This Paragraph 19(f) shall survive the termination of this Lease by lapse of time or otherwiseLease.
Appears in 1 contract
Sources: Lease Agreement (Constellation Pharmaceuticals Inc)