Holding Over. If Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 2 contracts
Samples: Office Lease (Digital Island Inc), Office Lease (Digital Island Inc)
Holding Over. If Tenant remains in possession of the Premises ------------ after is not surrendered to Landlord on the expiration Expiration Date or earlier 7 termination of this Lease with Lease, then Tenant shall pay to Landlord on account of use and occupancy of the express written consent of Landlord 8 Premises, for each month (or any portion thereof) during which consent may be withheld Tenant (or a Person claiming by, through 9 or under Tenant) holds over in Landlord's sole discretion)the Premises after the Expiration Date, Tenant's occupancy shall be a month-to-month tenancy at a rent an amount equal to the greater of 10 one and one-half (1.5) times: (i) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent aggregate Rental that was payable under this Lease during the last full 11 month prior to the date of the expiration of this Lease or Term; and (ii) the then fair market rental (as reasonably determined by Landlord) for value of the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then Premises plus the monthly rent specified in Additional 12 Rent that was payable by Xxxxxx during the last month of the Term. Xxxxxxxx's right to collect such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy 13 amount from Tenant for use and occupancy 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 in addition to any other rights or options pertaining to additional space remedies that 14 Landlord may have hereunder or at law or in the Building equity. Nothing contained in this Lease Section 23.01 shall be deemed permit 15 Tenant 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 retain possession of the Premises after the Expiration Date, or earlier termination date, or limit 16 in any manner Xxxxxxxx's right to regain possession of the Premises, through summary proceedings or 17 otherwise. Xxxxxxxx's acceptance of any payments from Tenant after the Expiration Date, or earlier 18 termination date, shall be deemed to be on account of the amount to be paid by Tenant in accordance with 19 the provisions of this Section 23.01. Tenant expressly waives, for itself and for any person claiming 20 through or under Tenant, any rights that Tenant or any such person may have under the provisions of 21 legal requirements, in connection with any holdover summary proceedings that Landlord may institute to 22 enforce the foregoing provisions of this Article. Tenant shall indemnify, defend and hold harmless 24 without limitation, consequential damages), costs and/or expenses (including, without limitation, 25 attorneys' fees and expenses) resulting from any failure by Xxxxxx to surrender the Premises in the manner 26 and condition required by this Lease upon the expiration of the Term or earlier termination of this Lease Lease, 27 including, without Landlord's consent as required abovelimitation, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined any claims made by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of any proposed new tenant founded upon such expiration or terminationfailure.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Holding Over. If Should Tenant remains (or any subtenant, assignee or other party occupying the Premises by, through, under, or with the permission of Tenant), fail to vacate and surrender all or any portion of the Premises upon expiration or termination of this Lease or termination of Tenant’s right to 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 (and any such other parties shall be jointly and severally obligated to pay) in advance, monthly, Basic Rental, applicable to only those floors where Tenant has held over, at a rate equal to 125% of the rate in effect for the last month of the Term of this Lease with respect to the first month of the holdover and thereafter at a rate equal to 150% 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. The parties agree that it would be impracticable or extremely difficult to fix Landlord’s actual 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 Article 5 shall be construed as consent by Landlord to any holding over of the Premises by Tenant 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 ------------ after to Landlord in the condition required under this Lease upon 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)Term or Tenant’s right to possession, Tenant's occupancy shall be a 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 a rent equal to the greater of (i) for the first least thirty (30) days notice; provided such notice period shall not prevent Landlord from terminating the right to possession of any such holdover period, one hundred twenty-five percent the Premises earlier based on an Event of Default as provided in Articles 19 and 20. If Landlord provides Tenant with at least thirty (125%)30) days prior written notice that Landlord has a signed lease from a succeeding tenant to lease the Premises, and for each day if Tenant fails to surrender the Premises upon the later of the 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 i) the date of the expiration of this Lease such thirty (30) day period, or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions date 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, and/or Tenant's continued ’s right to possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined Premises, in the 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 Landlord) such succeeding tenant with whom Landlord has entered into a lease for all or a portion of the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationrelated real estate brokers’ claims and attorney’s fees and costs.
Appears in 2 contracts
Samples: Standard Office Lease, Standard Office Lease (Coinstar Inc)
Holding Over. If Tenant 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), TenantXxxxxx's occupancy shall be a month-to-month tenancy at a rent equal to agreed upon by Landlord and Tenant, but in no event less than 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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. LandlordXxxxxxxx's acceptance of rent after such holding over with LandlordXxxxxxxx'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 aboveconsent, TenantXxxxxx's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 2 contracts
Samples: Office Lease (Ask Jeeves Inc), Office Lease (Ask Jeeves Inc)
Holding Over. If Tenant remains in possession of the Premises ------------ after the Upon expiration or earlier termination of this Lease, Tenant shall 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 expiration or termination of the Lease with the express written consent of Landlord Term (which consent as this Lease may be withheld in extended pursuant to Section 2.2 above) with Landlord's sole discretion)’s consent, Tenant's occupancy such possession by Tenant shall be deemed to be a month-to-month tenancy at a rent 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 greater 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 (ia) for the first thirty sixty (3060) days of any such holdover periodholdover, equal to one hundred twenty-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, and for each day of the holdover period thereafter, equal to one hundred fifty percent (150%), ) of Base Rent for the Monthly Rent and Additional Rent payable under this Lease during Occupied Space for the last full calendar month prior during the regular or extended Lease Term, plus (c) one hundred percent (100%) of Tenant’s Pro Rata Share of Additional Rent allocable to the date Occupied Space, plus (d) any other amounts due under the Lease, but except as specifically otherwise provided 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 the expiration Rents and/or other amounts due during any period of Tenant’s holdover shall not result in a renewal of this Lease Lease. The provisions of this Article 21 are in addition to and do not affect Landlord’s right of re-entry or (ii) the then fair market rental (any other rights of Landlord hereunder or as reasonably determined otherwise provided by Landlord) for the Premiseslaw; provided, however, if Landlord and Tenant agree Tenant’s liability for rental payments 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 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 connection 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 Tenant’s holdover of the Premises without consent is limited as stated in this Article 21. Landlord shall give Tenant written notice within ten (10) days after the expiration or earlier termination of this Lease without Landlord's consent as required above, Landlord has a new tenant (“New Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord”) for the Premises or any portion thereof (ii) two hundred percent (200%) “New Tenant Space”). If Tenant holds over in the New Tenant Space without the consent of 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 Monthly Rent lease between Landlord and Additional Rent payable under this Lease for the last full month prior New Tenant with respect to the date New Tenant Space, then Tenant shall indemnify Landlord for Landlord’s actual out-of-pocket losses, costs, damages, and expenses incurred by Landlord in connection with the New Tenant’s lease of such expiration or terminationthe New Tenant Space.
Appears in 2 contracts
Samples: Lease Agreement (Fisher Communications Inc), Purchase and Sale Agreement (Fisher Communications Inc)
Holding Over. If It is hereby agreed that in the event of Tenant remains in possession of the Premises ------------ holding over after the expiration or earlier termination of this Lease with Lease, by lapse of time or otherwise, thereafter the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy tenancy shall be from month to month in the absence of a month-to-month tenancy at written agreement to the contrary, and Tenant shall pay to Landlord a rent monthly occupancy charge equal to the greater of (i) for the first thirty sixty (3060) days of any such holdover periodholdover, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) monthly Basic Rental payable hereunder for the Premises or last lease year, and (ii) two for any holdover beyond said sixty (60) days, one hundred fifty percent (200150%) of the Monthly Rent and Additional Rent monthly Basic Rental payable under this Lease hereunder for the last full lease year (plus all other charges payable by Tenant under this Lease) such occupancy charges to be payable from the expiration or termination of this Lease until the end of the calendar month in which the Premises are delivered to Landlord in 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 at the end of the Term, Landlord shall so notify Tenant and if Tenant fails to 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 date expiration or earlier termination of this Lease), Tenant shall be responsible for any and all damages incurred by Landlord as a result of Xxxxxx’s failure to so vacate and deliver the Premises or such portion thereof (including the loss of such expiration lease or terminationamendment).
Appears in 2 contracts
Samples: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)
Holding Over. If Provided Tenant remains in 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 or earlier termination of the Term without any modification of this Lease with Lease, except as provided herein, or other written agreement between the express written consent parties for a period of Landlord up to six (which consent may be withheld 6) months after the Expiration Date, as specifically elected in Landlord's sole discretion)such Holdover Notice. If Tenant’s Holdover Notice fails to elect a permitted holdover term, Tenant's occupancy then such election shall be deemed to have been for a month-to-month tenancy at a rent equal to the greater period of six (i6) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply months. Tenant’s occupancy during such month-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy permitted holdover shall be on pursuant to all of the terms and conditions of this Lease, except that any renewal optionsTenant 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, expansion optionsplus all other Rent provided for in this Lease, rights except that, after the expiration of first refusalsuch 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, rights of first negotiation or at 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 time after the expiration or earlier termination of this Lease during which Tenant remains in occupancy of the Premises without Landlord's consent as required abovethe express right to do so under this Paragraph 19(f), Tenant's continued possession Tenant shall be on a tenant-at-sufferance, and until Tenant relinquishes possession of the basis of a tenancy at sufferance and Premises, Tenant shall pay as Monthly Rent during the holdover period rent in an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Base Rent and Additional Rent payable under this Lease for the last full month in effect immediately prior to the date of such expiration or terminationtermination 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
Samples: Office Lease (SecureWorks Corp), Office Lease (SecureWorks Holding Corp)
Holding Over. If Tenant 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 ’s occupancy shall be a month-to-month tenancy at a rent equal 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 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 ’s acceptance of rent after such holding over with Landlord's ’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’s written consent, Tenant's ’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) for the first thirty (30) days of such holdover, one hundred twenty-five fifty percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200150%) of the Monthly Rent and one hundred percent (100%) of the Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationtermination and (ii) for the holdover period from and after the end of such thirty (30) day period, such percentage applied to Monthly Rent shall increase to two hundred percent (200%).
Appears in 2 contracts
Samples: Office Lease (Twitter, Inc.), Office Lease (Twitter, Inc.)
Holding Over. If Tenant remains in shall pay Landlord for each day Tenant retains irregular possession (“Hold Over”) of the Premises ------------ or any part thereof 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions of this Lease, except that as provided for hereunder, 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 renewal optionsperiod thereafter, expansion optionscalculated as though such period were within the Term, rights 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 first refusal, rights Landlord’s right of first negotiation re-entry or any other rights right or options pertaining remedy of Landlord. No payments of money by Tenant to additional space 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 Building provisions contained in this Lease shall be deemed to have terminated Article 1762, 1763 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 1764 of the original term 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. 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 2 contracts
Samples: Lease Agreement, Industrial Building Lease Agreement (Entorian Technologies Inc)
Holding Over. If Tenant remains in shall 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 earlier termination 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 of this Lease for a period of one (1) year on the same terms and conditions (including those with respect to the express written consent payment of Landlord (which consent may be withheld Rent) as provided in Landlord's sole discretion)this Lease, Tenant's occupancy except that the Monthly Base Rent for such period 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 holdover period thereafter, one hundred fifty percent (150%), % of the Monthly Rent and Additional Base Rent payable under this Lease during the last full month prior to preceding the date of the expiration of this Lease Termination Date, or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then 150% of the monthly base rent specified in such written agreement shall instead apply. 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 then being quoted by Landlord for similar space in the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable theretoBuilding. 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.ARTICLE FOURTEEN DAMAGE BY FIRE OR OTHER CASUALTY
Appears in 2 contracts
Samples: Office Lease (Calico Commerce Inc/), Office Lease (Calico Commerce Inc/)
Holding Over. If Provided Tenant remains in gives Landlord not less than six (6) months advance notice thereof, Tenant shall be permitted to retain possession of the Leased Premises ------------ after the expiration or earlier termination of the Term 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 without any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 modification of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 other written agreement shall instead applybetween the parties for a period not to exceed two (2) months after the Expiration Date. Except as provided in the preceding sentence, the month-to-month tenancy Such occupancy shall be on pursuant to all of 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 as Monthly Base Rent during the holdover such period in an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental Base Rent in effect immediately prior to the expiration of the Term, and except that, after the expiration of such two (2) month period, the foregoing provisions of this Article XXI shall no longer be effective. After the expiration of such two (2) month period, Tenant shall instead be permitted to retain possession of the Leased Premises for an additional period not to exceed twelve (12) months, under the same terms and conditions as reasonably determined 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 LandlordLandlord 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 Article XXI, Tenant shall be a tenant-at-sufferance, and (i) for until Tenant relinquishes possession of the Premises or (ii) Leased Premises, Tenant shall pay rent in an amount equal to two hundred percent (200%) of the Monthly Base Rent and Additional Rent payable under this Lease for the last full month in effect immediately prior to the date expiration of such expiration the Term, and (ii) Tenant shall pay to Landlord all direct and consequential damages sustained by reason of Tenant's retention of possession for lost rentals, leasing fees, advertising costs, marketing costs, holdover or terminationalternative space rents, tenant finish expense and relocation costs. There shall be no renewal of this Lease by operation of law.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration or earlier termination of this the Lease Term with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy 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 rent monthly rate 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental 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. 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 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 reasonably determined 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) for the Premises or (ii) two hundred percent (200%) , including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary to recover possession of the Monthly Rent and Additional Rent payable under Premises, whether before or after expiration of the Lease Term, shall be considered an action to enforce the terms of this Lease for purposes of the last full month prior to the date awarding of such expiration or terminationany attorney’s fees in connection therewith.
Appears in 1 contract
Samples: Office Lease (Box Inc)
Holding Over. If If, with Landlord’s express written consent, Tenant remains in retains possession of the Premises ------------ after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to 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 with the express written consent of or such other amount as Landlord (which consent may be withheld indicate, in Landlord's ’s sole and absolute 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 consent, and (iv) all other payments shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy shall be on continue under 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 the Term without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease without Landlord's consent as required aboveLease, Tenant's continued possession including the obligation to pay 100% of all Additional Rent due under this Lease, except that the monthly Base Rent shall be on equal to 150% of the basis Base Rent in effect during the last 30 days of a tenancy at sufferance the Term, and (B) Tenant shall pay as Monthly Rent during be responsible for all damages suffered by Landlord resulting from or occasioned by Txxxxx’s holding over, including consequential damages; provided that, unless Lxxxxxxx gave written notice to Tenant at least 30 days before the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) expiration of the fair market rental (as reasonably determined by Landlord) for Term that a subsequent tenant would be leasing the Premises or (ii) two hundred percent (200%) any part thereof and that Landlord reasonably anticipates holding over is reasonably likely to impact Landlord’s delivery schedule to such new tenant, Tenant shall be responsible for consequential damages only once Txxxxx’s holding over exceeds 15 days. No holding over by Txxxxx, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Monthly Premises. Acceptance by Landlord of Rent and Additional Rent payable under after the expiration of the Term or earlier termination of this Lease for the last full month prior to the date shall not result in a renewal or reinstatement of such expiration or terminationthis Lease.
Appears in 1 contract
Holding Over. If Any holding over by Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of the term 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 treated as a month-to-month 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 rent use and occupancy charge an amount equal to the greater of (y) (i) for the first thirty (30) days of any such holdover periodholdover, one hundred twenty-five percent (an amount equal to 125%), and for each day % of the holdover period thereafter, one hundred fifty percent (150%), sum of the Monthly 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 during the last full month immediately prior to the date commencement of such holdover, (ii) during the second month of any such holdover, an amount equal to 150% of the expiration 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 (iix) the then fair market rental (as reasonably determined by Landlord) 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, if Tenant shall not be liable for indirect or consequential damages suffered by Landlord and on account of any such holding over by Tenant agree in writing that a different monthly rent shall apply during unless such month-to-month tenancy, then holding over continues for more than thirty (30) days after the monthly rent specified in such written agreement shall instead apply. Except as provided in expiration of the preceding sentence, the month-to-month tenancy shall be on the terms and conditions Term of this Lease, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or . Nothing in the foregoing nor any other rights term or options pertaining to additional space in the Building contained in provision of 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 permit Tenant to retain possession of the original term of this Lease. If Tenant remains Premises or hold over in possession of the Premises after the expiration or earlier termination of the Lease Term. All property which remains in the Building or the Premises after the expiration or termination of this Lease without Landlord's consent as required above, Tenant's continued possession shall be on conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the basis proceeds of a tenancy such sale and apply the same, at sufferance and Tenant shall pay as Monthly Rent during its option against the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) expenses of the fair market rental (as reasonably determined sale, the cost of moving and storage, any arrears of rent or other charges payable hereunder by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent Tenant to Landlord and Additional Rent payable any damages to which Landlord may be entitled under this Lease for the last full month prior to the date of such expiration or terminationand at law and in equity.
Appears in 1 contract
Holding Over. If Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 remain in possession of the Premises after the expiration or earlier termination Expiration Date of this Lease without Landlord's consent for a period of up to three months on the same terms and conditions under the Lease as required above, Tenant's continued possession exist on the Expiration Date (except that Base Rental and Additional Rental for such holdover month shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal increased to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental Base Rental and Additional Rental in effect immediately prior to the Expiration Date), so long as Tenant provides Landlord written notice of such holdover at least six (as reasonably determined by Landlord6) for months prior to the Premises or (ii) two hundred percent (200%) Expiration Date. Such notification from Tenant shall have the effect of extending the term of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior period set forth in the notification, subject to the date aforesaid three (3) month limitation; if no length of the extension period is set forth in such expiration 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 terminationrenewal of this Lease by operation of law, and if Tenant remains in possession of the Premises after the termination of this Lease (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 acquiescence or consent of Landlord, Tenant shall be deemed to be occupying the Premises under a month-to-month periodic tenancy at a monthly rental equal to one hundred fifty (150%) percent of the Base Rental in effect during the last month of the Lease Term, plus all 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 periodic 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 acquiescence or consent, Tenant thereupon shall be deemed a tenant-at-sufferance subject to summary eviction as provided by law.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises after ------------ 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 agreed upon by Landlord and Tenant, but in no event less than 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required aboveconsent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Samples: Office Lease (Bea Systems Inc)
Holding Over. If Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 other termination of this Lease without the Term, then, at Landlord's consent as required aboveoption, Tenant's continued possession Tenant shall be on deemed to be occupying the basis of Premises as a tenancy month-to-month tenant only, at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount a monthly rental equal to the greater of (i) during the first sixty (60) days of such holdover, one hundred twenty-five percent (125%) of the fair market monthly Base Rent applicable during the last rental (as reasonably determined by Landlord) for period of the Premises or Term, and (ii) two following the first sixty (60) days of any holdover, one hundred fifty percent (200150%) of the Monthly monthly Base Rent and applicable during the last rental period of the Term. Tenant shall also pay all Additional Rent payable under this Lease Lease, prorated for each month during which Tenant remains in possession. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last full day of any calendar month by delivery to the other of notice of such termination prior to the date 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 to Landlord as provided in this Lease upon the expiration or terminationother termination of this Lease. The provisions of this Section 8.3 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. Tenant shall 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 portion of the Premises following the expiration or earlier termination of this Lease, Landlord may, at Landlord's sole option, commence and pursue to completion an unlawful detainer action or other action to terminate the Lease with respect to any full floor of the Premises, and Landlord shall not be required to terminate the remainder of the Lease unless Landlord chooses to do so in its sole discretion.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease provides Landlord with the express written consent of Landlord notice (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy "HOLDOVER NOTICE") at a rent equal to the greater of (i) for the first least thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day prior to expiration of the holdover period thereafterLease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, one hundred fifty percent Tenant shall have the right (150%)and, of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior subject to the date of grace periods described below, the obligation) to hold over after the expiration of this the Lease or Term until the date (ii"HOLDOVER NOTICE DATE") the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyHoldover Notice (but not in excess of one hundred twenty (120) days after the expiration of the Lease Term or applicable Extension Term). Except as provided in the preceding sentenceAny holdover tenancy (including without limitation, the month-to-month any holdover tenancy pursuant to a Holdover Notice) shall be on the terms subject to every applicable term, covenant and conditions of this Leaseagreement contained herein, except that any renewal options, expansion options, rights the Base Rent payable by Tenant for the Premises (irrespective of first refusal, rights the amount of first negotiation or any other rights or options pertaining space Tenant continues to additional space occupy in the Building contained in this Lease Building) shall be deemed escalated 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 equal one hundred ten percent (110%) of the original term then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days 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 such holdover occupancy and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of such amount during the fair market rental next succeeding ninety (as reasonably determined by Landlord90) for the Premises or days and from and after such one hundred eighty (ii180) two day period, Rent shall equal one hundred fifty percent (200150%) of such amount thereafter; provided, however, subject to the Monthly next sentence of this Article 16, such holdover Rent and Additional Rent payable 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 for Lease. If Tenant properly delivers the last full month 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 holdover until the date which is one hundred five (105) days after the expiration of the Lease Term or applicable Extension Term and Tenant's obligation to pay holdover Rent and Additional Rent shall be prorated on a per diem basis until the later of the forty-fifth (45th) 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 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 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 within the period specified in this Article 16 above, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys' fees) and liability resulting from such expiration failure, including, without limiting the generality of the foregoing, any claims made by 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 any lease or terminationsigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Samples: Office Lease (Peregrine Systems Inc)
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease provides Landlord with the express written consent of Landlord notice (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy "HOLDOVER NOTICE") at a rent equal to the greater of (i) for the first least thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day prior to expiration of the holdover period thereafterLease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, one hundred fifty percent Tenant shall have the right (150%)and, of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior subject to the date of grace periods described below, the obligation) to hold over after the expiration of this the Lease or Term until the date (ii"HOLDOVER NOTICE DATE") the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyHoldover Notice (but not in excess of one hundred twenty (120) days after the expiration of the Lease Term or applicable Extension Term). Except as provided in the preceding sentenceAny holdover tenancy (including without limitation, the month-to-month any holdover tenancy pursuant to a Holdover Notice) shall be on the terms subject to every applicable term, covenant and conditions of this Leaseagreement contained herein, except that any renewal options, expansion options, rights the Base Rent payable by Tenant for the Premises (irrespective of first refusal, rights the amount of first negotiation or any other rights or options pertaining space Tenant continues to additional space occupy in the Building contained in this Lease Building) shall be deemed escalated 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 equal one hundred ten percent (110%) of the original term then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days 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 such holdover occupancy and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of such amount during the fair market rental next succeeding ninety (as reasonably determined by Landlord90) for the Premises or days and from and after such one hundred eighty (ii180) two day period, Rent shall equal one hundred fifty percent (200150%) of such amount thereafter; provided, however, subject to the Monthly next sentence of this Article 16, such holdover Rent and Additional Rent payable 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 for Lease. If Tenant properly delivers the last full month 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 holdover until the date which is one hundred five (105) days after the expiration of the Lease Term or applicable Extension Term and Tenant's obligation to pay holdover Rent and Additional Rent shall be prorated on a per diem basis until the later of the forty-fifth (45th) 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 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 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 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) and liability resulting from such expiration failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] (including such tenant's lost profits) and any lost profits to Landlord resulting therefrom, provided Landlord promptly notified Tenant in writing of any lease or terminationsigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Samples: Office Lease (Peregrine Systems Inc)
Holding Over. If Tenant 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 ’s occupancy shall be a month-to-month tenancy at a rent equal to agreed upon by Landlord and Tenant, but in no event less than 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 holdover period thereafter, 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 or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 ’s acceptance of rent after such holding over with Landlord's ’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’s consent, Tenant's ’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) for the first thirty (30) days of such holdover, one hundred twenty-five fifty percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200150%) of the Monthly Rent and one hundred percent (100%) of the Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationtermination and (ii) for the holdover period from and after the end of such thirty (30) day period, such percentage applied to Monthly Rent shall increase to two hundred percent (200%).
Appears in 1 contract
Samples: Office Lease (New Relic Inc)
Holding Over. If Tenant remains Unless earlier terminated in possession accordance with this Lease or duly extended in accordance with this Lease, this Lease shall terminate without further notice at the expiration of the Premises ------------ Lease Term. Any holding over by Tenant after the expiration or earlier termination of this Lease shall not constitute a renewal or extension of the Lease or give Tenant any rights in or to the Leased Premises. Any holding over after such expiration with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be construed to be a month-to-tenancy from month tenancy at a to month on the same terms and conditions herein specified insofar as applicable except that the monthly rent shall equal to the greater of one twelfth (i1/12) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, higher of one hundred fifty percent (150%), ) of the Monthly Base Annual Rent and Additional Rent payable under this Lease in effect during the last full month prior to such termination or the date of then current Fair Market Rent. The current Fair Market Rent shall be determined by agreement between Landlord and Tenant LOT A within thirty (30) days following the expiration of this the Lease or Term. In the absence of such agreement as to the Fair Market Rent, it shall be determined as follows:
(iia) Each party shall appoint an Appraiser within fifteen (15) days after notice of failure to agree given by one party to the other, and shall advise the other party of such appointment. On the failure of either party so to appoint an Appraiser, and to advise the other party of such appointment, the person who has been appointed as Appraiser may appoint a second Appraiser to represent the party in default.
(b) The two (2) Appraisers appointed in either manner shall then fair market rental proceed to establish the Base Annual Rent for each month of the hold over period. In the event of their inability to agree upon the Base Annual Rent for each month of the hold over period within thirty (as reasonably 30) days after their appointment, then Landlord shall appoint a third Appraiser, provided however, that if the difference between the amounts respectively determined by Landlordthe two (2) for the Premises; provided, 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 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 Appraisers is 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 as Monthly Rent during the holdover period greater than an amount equal to the greater of (i) one hundred twenty-five ten percent (12510%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) higher of the Monthly two (2) amounts so determined, then the Base Annual Rent for each month of the hold over period in question shall be the mean of such two amounts, and Additional it shall not be necessary to appoint a third (3rd Appraiser). In the 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.
(c) In the event a third Appraiser is appointed, such Appraiser's determination of Base Annual Rent payable for each month of the hold over period shall be final so long as it is within the limits of the appraisals established by the Appraisers appointed by the parties pursuant to 15.2(a) above. If the third Appraiser's appraisal is not within such limits, the determination of 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 divide equally the charges imposed by Appraisers selected under this Lease for the last full month prior to the date of such expiration or terminationParagraph 15.2.
Appears in 1 contract
Samples: Lease Agreement (Corporate Office Properties Trust Inc)
Holding Over. (a) If Tenant remains in possession holds over without the consent of the Premises ------------ Landlord after the expiration Expiration Date or earlier termination of this Lease with Lease, the express written consent of parties recognize and agree that the damage to Landlord (which consent resulting therefrom will be substantial and may be withheld impossible accurately to measure. Tenant desires to limit and liquidate such amounts and, accordingly, notwithstanding anything to the contrary contained in Landlord's sole discretion)this Lease, Tenant's occupancy Tenant shall be pay to Landlord for each month and for each portion of any month during which Tenant holds over, as liquidated damages and not a monthpenalty, an amount (pro-to-month tenancy at a rent rated for the actual number of days of such holdover) equal to the greater of (i) for the first thirty (30) 30 days of any such holdover periodholdover, one hundred twenty-five percent the Fixed Rent, Impositions, Operating Payments and either PILOT Payments or Tax Payments (125%), and as applicable) which Tenant was obligated to pay for each day the month immediately preceding the end of the holdover period thereafterTerm, 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; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during next 30 days of such month-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentenceholdover, the month-to-month tenancy shall be on the terms and conditions sum 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 as Monthly Rent during the holdover period an amount equal to (A) the greater of (ix) one hundred twenty-five [****] percent (125[****]%) of the Fixed Rent which Tenant was obligated to pay for the month immediately preceding the end of the Term (“Final Fixed Rent”) and (y) [****] percent ([****]%) of the fair market rental value of the Premises for such month on a net lease basis (as reasonably determined by Landlordarbitration in the City of New York in accordance with the procedures set forth in Section 9.02(d)) for the Premises or (ii“FMV”) two hundred and (B) [****] percent (200[****]%) of the Monthly Rent Impositions Payments, Operating Payments, either PILOT Payments or Tax Payments and other Additional Rent payable under this Lease Charges, (iii) for the last full month prior next 30 days of such holdover, the sum of (A) the greater of (x) [****] percent ([****]%) of the Final Fixed Rent, and (y) [****] percent ([****]%) of the FMV (on a net lease basis) and (B) [****] percent ([****]%) of the Impositions Payments, Operating Payments, either PILOT Payments or Tax Payments and other Additional Charges, and (iv) thereafter, the sum of (A) [****] percent ([****]%) of the greater of the Final Fixed Rent or FMV (on a net lease basis) and (B) [****] percent ([****]%) of the Impositions Payments, Operating Payments, either PILOT Payments or Tax Payments and other Additional Charges.
(b) In the case of holdover, holdover rent as set forth above shall be determined based solely upon the space that has not been vacated by Tenant; provided, however, that if (a) Landlord has entered into a bona-fide lease with a third party tenant for premises that include both the space that has not been vacated by Tenant and space that has been vacated by Tenant, (b) Landlord certifies to Tenant, within thirty (30) days after entering into such third party lease, that Landlord has entered into such lease and such certification includes the date (the “Third Party Tenant Delivery Date”) provided in the third party lease for Landlord to deliver such space to such third party tenant (or the date on which Landlord must have possession in order to complete any work that is required to be performed pursuant to such third party lease as a condition to the date occurrence of such expiration delivery date), and (c) Tenant actually holds over in such space beyond the Third Party Tenant Delivery Date, then Tenant shall also be responsible for holdover rent as determined pursuant to Section 6.10(a) above from and after the Third Party Tenant Delivery Date with respect to the space demised under such lease that Tenant has actually vacated. For purposes of the foregoing, to the extent all or terminationany portion of the Mechanical Areas is required by Landlord in order to provide services to the space leased to such third party tenant, then such Mechanical Areas shall be deemed to be space included in, or demised under, such tenant’s lease; provided, that Tenant shall only be responsible for holdover rent with respect to the Mechanical Areas for the period of time that Tenant has not surrendered the same to Landlord and Landlord is actually delayed in delivering the space demised under such third party lease as a result of Tenant holding over in such Mechanical Areas.
(c) No holding over by Tenant after the Term shall operate to extend the Term, and the acceptance of any rent paid by Tenant pursuant to this Section 6.10 shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding. The provisions of this Section 6.10 shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York. Tenant expressly waives, for itself and for any Person claiming through or under Tenant, any rights which Tenant or any such Person 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 holdover summary proceedings which Landlord may institute to enforce the provisions of this Lease.
Appears in 1 contract
Samples: Lease (BlackRock Inc.)
Holding Over. If Tenant remains in possession (or any person holding under or through Tenant) fails to vacate and surrender the Demised Premises to Landlord as required hereunder upon the termination or expiration of the Premises ------------ after Term, such holding over shall be, except as Landlord may elect pursuant to the expiration or earlier next sentence, as a tenant at sufferance (requiring 30 days’ notice of termination of this Lease with by either party to 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 other) at a monthly fixed rent (“Holdover Rent”) equal to the greater of (i) 125% (for the first thirty (30) days of any such holdover periodholdover), one hundred twenty-five percent (125%ii) 150% (for the next thirty (30) days of any such holdover), and for each day (iii) thereafter, 200% of the holdover period thereafter, one hundred fifty percent (150%), greater of the Monthly Yearly Fixed Rent and Additional Rent payable under this Lease during due hereunder for the last full month prior to the date of the expiration of this Lease Term or (ii) the then fair market rental (as reasonably determined rent being quoted by Landlord) Landlord for the Premises; provided, 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 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 comparable space in the Building contained in at the time of the termination or expiration of the Term, and otherwise subject to all the covenants and conditions (including obligations to pay Additional Rent under Sections 6.2 and 6.3) of this Lease shall be deemed as though it had originally been a monthly tenancy. Notwithstanding the foregoing, if Landlord desires to have terminated regain possession of the Demised Premises promptly after the termination or expiration hereof and shall be inapplicable thereto. Landlord's prior to acceptance of rent after such holding over with Landlord's written consent shall not result in for any other tenancy or in a renewal of the original term of this Lease. If Tenant remains in period thereafter, Landlord may, at its option, forthwith re-enter and take possession of the Demised Premises after or any part thereof without process or by any legal process in 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 consent the Term, if Tenant fails promptly to vacate the Demised Premises at the expiration or earlier termination of the Term, Tenant shall save Landlord harmless and indemnified against any claim, loss, cost or expense (including reasonable attorneys’ fees) arising out of Tenant’s failure promptly to vacate the Demised Premises (or any portion thereof) and upon demand pay to Landlord any damages or loss incurred by Landlord as required abovea result of any delayed or terminated lease of all or part of the Premises by 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's continued possession -authorized requestors shall be on file at the basis Management Office, and Security Lobby Desk. It is the responsibility of the Tenant to maintain a tenancy at sufferance current list and Tenant shall pay as Monthly Rent during 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 map may be obtained through the holdover period an amount equal Management Office. Procedures for making a request: DURING BUSINESS HOURS
1. Tenant-authorized requestor may e-mail (Cxxxxxxxx_xxxxxxx@xxxxx.xxx) or FAX attached “Overtime HVAC Request” form (see attached) to the greater of Management Office at (i000) one hundred twenty000-five percent (125%) of 0000. Requestors should be familiar with the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent provided heat pump location map, and Additional Rent payable under this Lease for the last full month prior be prepared to the date of such expiration or terminationreference a heat pump location and number(s).
Appears in 1 contract
Samples: Agreement of Lease (Pegasystems Inc)
Holding Over. If Upon written consent from the Landlord, if Tenant remains ------------- in possession of the Premises ------------ after the expiration or earlier termination of this Lease with without executing a new lease, it will be deemed to be occupying the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be Premises as a tenant from month-to-month tenancy at a (regardless of whether rent equal to the greater of (i) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%is reserved annually or monthly hereunder), and for each day of subject to all the 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 provisions of this Lease or (ii) to the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing extent that they can be applicable to 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 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 the minimum rental for each month (the "Monthly Holdover Rental") will be one hundred twenty percent (120%) 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 theretoBase Monthly Rental. Landlord's acceptance of rent after such holding over with If without 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 aboveLease, Tenant's continued possession shall be on the basis of a tenancy at sufferance and (a) Tenant shall pay as Landlord the Monthly Rent Holdover Rental for each month (or portion thereof) during such holdover period, and (b) if such possession by Tenant continues for more than thirty (30) days after the holdover period an amount equal expiration of this Lease, Tenant shall be liable to the greater of Landlord for and indemnify Landlord against (i) one hundred twenty-five percent (125%) the loss of the fair market rental (as reasonably determined benefit of the bargain if any tenant obtained by Landlord) Landlord for all or any part of the Premises or (a "New Tenant") shall terminate its lease by reason of the holding over by Tenant, and (ii) two hundred percent (200%) of any claim for damages by any New Tenant, provided that Landlord gives written notice to Tenant on or after the Monthly Rent and Additional Rent payable under expiration date for this Lease for that Landlord intends to enforce such indemnification if Tenant does not vacate the last full month prior to Premises within thirty (30) days from the date of such expiration or terminationnotice.
Appears in 1 contract
Samples: Lease Agreement (Dominos Pizza Government Services Division Inc)
Holding Over. If Unless Landlord expressly agrees otherwise in writing, if Tenant remains shall remain in possession of all or any portion of the Premises beyond the Term, Tenant shall pay Landlord:
(i) for the first one hundred twenty (120) days of any such holdover, an amount of Net Rent equal to 125% of the Net Rent applicable immediately preceding Tenant’s holdover of possession of the Premises ------------ beyond the Term, plus 100% of all Additional Rent, and
(ii) thereafter during any such holdover, (I) an amount of Net Rent equal to the greater of (x) the Net Rent payable by Tenant pursuant to clause (i) above, or (y) an amount of Net Rent determined pursuant to the Current Market Terms (as provided in Article 35 hereof) (it being agreed that, until the Current Market Terms are determined pursuant to Article 35 hereof, Tenant shall continue to pay Net Rent at the rate set forth in clause (i) above during such holdover, with any applicable reconciliation of such amounts paid by Tenant to occur within thirty (30) days after the determination of the Net Rent pursuant to such Current Market Terms), plus (II) 100% of Additional Rent, in all events, only with respect to the portion of the Premises as to which Tenant has retained possession from time to time after the expiration or earlier termination of this Lease (but 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 respect 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 entire portion of the holdover period thereafterPremises on any partial floor of which Tenant has so retained possession, 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; provided, 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 in the preceding next succeeding sentence), the month-to-month tenancy and prorated on a per diem basis for each day Tenant 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 retain possession of the Premises or any part thereof after the expiration or earlier termination of this Lease without Landlord's consent as required above, Tenant's continued possession shall be on during such period. For purposes of calculating the basis amount of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Net Rent and Additional Rent payable by Tenant as provided above, in the event that Tenant remains in possession of any portion of any floor of the Building included in its entirety within the Premises, Tenant shall be deemed to have held over with respect to all of the Rentable Area of such floor so included in the Premises. The foregoing provisions shall not be deemed to limit or constitute a waiver by Landlord of any rights of re-entry or other rights or remedies of Landlord provided herein or at law and shall not serve as permission for Tenant to hold over, nor serve to extend the Term (although after commencement of said holdover Tenant shall remain bound to comply with all provisions of this Lease until Tenant vacates the Premises, and such vacation shall be subject to the provisions of Article 12), it being understood that any such holdover shall (subject to Paragraph 13(B) below) constitute an immediate Default under this Lease Lease. Landlord and Tenant further agree that, in the event that any such holdover by Tenant shall extend for greater than one hundred twenty (120) days beyond the last full month prior to the date Term, then Tenant shall also indemnify and defend Landlord from and against all actual, direct claims and damages sustained or incurred by Landlord by reason of Tenant’s holding over beyond (but not within) such expiration or termination.one hundred twenty (120) day period, including, without limitation, all Holdover Damages
Appears in 1 contract
Samples: Office Lease (KBS Real Estate Investment Trust II, Inc.)
Holding Over. If Tenant remains in possession of the Premises ------------ License Areas after the expiration or earlier termination of this Lease the License with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretionand any failure by Tenant to remove, or if required by Landlord pursuant to Paragraph 55.k.ii. above, any failure to disconnect from and discontinue using, any Lines following written demand for the same by Landlord shall constitute continuing possession for purposes hereof), Tenant's occupancy possession shall be a month-to-month tenancy license at a rent equal to license fee agreed upon by Landlord and Tenant, but in no event less than 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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Rent and Additional Rent license fees, if any, payable under this Lease Paragraph 55 during the last full month prior to the date of the expiration of this Lease the License or (ii) the then fair market rental license fees (as reasonably determined by Landlord) for the Premises; provided, 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 applyLicense Areas. Except as provided in the preceding sentence, the month-to-month tenancy license 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 theretoParagraph 55. LandlordXxxxxxxx's acceptance of rent license fees after such holding over with Landlord's written consent shall not result in any other tenancy or license or in a renewal of the original term of this Leasethe License. If Tenant remains in possession of the Premises License Areas after the expiration or earlier termination of this Lease the License without Landlord's consent as required aboveconsent, TenantXxxxxx's continued possession shall be on the basis of a tenancy licensee at sufferance and Tenant shall pay as Monthly Rent a monthly license fee during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rental license fees (as reasonably determined by Landlord) for the Premises License Areas, or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent license fees, if any, payable under this Lease Paragraph 55 for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Samples: Office Lease (Ask Jeeves Inc)
Holding Over. If Tenant remains in possession of the Premises ------------ or any part thereof 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)Term, Tenant's such occupancy shall be a month-to-month tenancy at sufferance at a rent equal to rental in the greater of (iamount of: 1) for the first thirty (30) if, not later than 90 days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 expiration of the expiration Term, Tenant delivers written notice to Landlord of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancyTenant’s intent to hold over, then (a) during the monthly rent specified in such written agreement shall instead apply. 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 60 days 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 abovehold over, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental last month’s Base Rent plus all other charges payable under this Lease and upon all of the other terms of this Lease and (as reasonably determined by Landlordb) for the Premises or (ii) two thereafter, one hundred fifty percent (200150%) of the Monthly last month’s Base Rent and Additional Rent plus all other charges payable under this Lease for and upon all of the last full month other terms of this Lease, and (2) if Tenant fails to deliver written notice to Landlord of Tenant’s intent to hold over not later than 90 days prior to the expiration of the Term, then one hundred fifty percent (150%) of the last month’s Base Rent plus all other charges payable under this Lease and upon all of the other terms of this Lease. However, if Landlord has executed a lease with another tenant for all or a portion of the Premises and any unauthorized holding over will delay or prevent Landlord from delivering possession of all or a part of the Premises to another tenant or from commencing work to make all or part of the Premises available to another tenant, and Landlord has delivered written notice to Tenant specifying the same, then from the date of Landlord's delivery of such notice the rental rate applicable to such tenancy at sufferance shall be one hundred fifty percent (150%) of the last month’s Base Rent (notwithstanding any previous notice from Tenant as set forth above) plus all other charges payable under this Lease and upon all of the other terms of this Lease. Notwithstanding the foregoing, Landlord's acceptance of Rent from Tenant during any period of tenancy at sufferance shall not be deemed to be the consent of Landlord to Tenant's continued occupancy of the Premises, and if Tenant remains in possession of the Premises or any part thereof after the expiration of the Term without Landlord’s consent, Landlord shall have all remedies at law or in equity. In addition, if Tenant remains in possession of the Premises or any part thereof for more than sixty (60) days following the expiration of the Term with or without Landlord's consent, then, in addition to Landlord's remedies as set forth above, Tenant shall defend and indemnify Landlord from all loss, liabilities, damages and costs, including consequential damages and attorneys’ fees, incurred by Landlord and resulting from Tenant’s failure to surrender possession of the Premises to Landlord when and as required under this Lease. The provisions of this Section shall survive the expiration or terminationearlier termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Exelixis, Inc.)
Holding Over. If Tenant remains in holds possession of any portion of the Premises ------------ after the expiration or earlier termination of the term of this Lease with respect to that portion of the express Premises without the written consent of Landlord, then absent express agreement of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such holding over shall be a month-to-month tenancy at a rent sufferance and not for any periodic or fixed term. Tenant shall pay monthly rental hereunder equal to one hundred fifty percent (150%) of the greater amount of (i) for Base Rent and Additional Rent payable immediately prior to expiration of such term with respect to such Premises during the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and which time Tenant shall pay as Monthly Rent during the holdover period an amount monthly rental equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly amount of Base Rent and Additional Rent payable under 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 for shall continue to apply, excluding any options or rights of Tenant to renew or extend this Lease or expand the last full Premises hereunder. Nothing herein shall be construed as a consent in advance by Landlord to 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 to Landlord when and as required hereunder. Any holding over with the written consent of Landlord shall, except as otherwise specified in such consent, thereafter constitute a lease from month prior to month but otherwise subject to all of the date terms and conditions of such expiration this Lease, excluding any options or terminationrights of Tenant to renew or extend this Lease or expand the Premises hereunder.
Appears in 1 contract
Samples: Lease (Snowball Com Inc)
Holding Over. If 8.1 Tenant remains in possession shall have the unconditional right to hold over beyond the expiration of the Lease Term for a period of up to two months at the same terms and conditions, including rental rate, as in the Lease except if the Lease was in Default at the time of the expiration of the Lease. During this initial two month holdover period ("Two Month Holdover Period"), Tenant may vacate the Leased Premises ------------ after by giving the Landlord 30 days' notice. If Xxxxxx does not immediately surrender the Leased Premises upon the expiration or earlier termination of the Lease after the Two Month Holdover Period, then the rent shall be increased to 150% of the Base Rent and 100% of other sums that would have been payable pursuant to the provisions of this Lease with if the express written consent Lease Term had continued during such holdover period ("Holdover Rent").
8.2 The Holdover Rent shall be computed on a monthly basis and shall be payable on the first day of Landlord (which consent may be withheld such holdover period and the first day of each calendar month thereafter during such holdover period until the Leased Premises have been vacated.
8.3 After the Two Month Holdover Period, Xxxxxxxx's acceptance of the rent shall not, in any manner, adversely affect Landlord's other rights and remedies, including Landlord's right to evict Tenant and to recover damages. After the Two Month Holdover Period, Landlord may, in addition to its other remedies, elect, in its sole discretion), Tenant's occupancy shall be treat such holding over by Tenant as a month-to-month tenancy at a rent equal tenancy.
8.4 Xxxxxx agreed to indemnify, defend, and hold Landlord harmless from and against all loss and damages, direct and consequential, which Landlord may suffer or incur in connection with claims by other parties against Landlord arising out to the greater holding over by Xxxxxx, including, without limitation, attorney's fees incurred in defense of (i) for Xxxxxx's claims.
8.5 Except as otherwise specifically provided in the first thirty (30) days of any such holdover periodSection, one hundred twenty-five percent (125%), and for each day of the 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 all terms of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord shall remain in full force and Tenant agree in writing that a different monthly rent shall apply effect during such month-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationHoldover period.
Appears in 1 contract
Samples: Lease Agreement
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration or earlier termination of this Lease with without the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy Tenant shall be a month-to-month tenancy at a pay as 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 holdover period thereafter, Leased Premises one hundred fifty percent (150%), ) the amount of the Monthly Rent (including all Base Rental and Additional Rent Rental then 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 Landlorddescribed in Section 2.1) for the Premises; provided, however, if Landlord entire holdover period calculated and prorated on a daily basis. No holding over by Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then after the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy Term shall be on construed to extend this Lease. In the terms and conditions 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, except that 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 renewal optionsholdover period shall apply only with respect to the floors on which Tenant actually holds over provided that, expansion optionsfor purposes of Tenant's obligation to pay such rent, 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 Tenant shall be deemed (a) 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 occupy all of the original term Leased Premises on a floor if Tenant occupies any portion of this Lease. If such floor and (b) to occupy all floors within the Leased Premises leased to a new tenant if Tenant remains in possession occupies any portion 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 as Monthly Rent during the holdover period an amount equal space leased to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.new tenant
Appears in 1 contract
Samples: Office Space Lease Agreement (FSP Phoenix Tower Corp)
Holding Over. If Tenant 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 ’s occupancy shall be a month-to-month tenancy at a rent equal agreed upon by Landlord and Tenant in writing; provided, however, if Landlord has consented to the greater of (i) for holdover in writing, but Landlord and Tenant did not agree in writing on the first thirty (30) days of any such rent during the holdover period, one hundred twenty-five percent (125%), and for each day of the monthly rent during the holdover period thereafter, shall be 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 or earlier termination of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyLease. 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 ’s acceptance of rent after such holding over with Landlord's ’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’s consent, Tenant's ’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) for the first thirty (30) days of such holdover without consent, one hundred twenty-five fifty percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200150%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination, (ii) for the thirty-first (31st) through sixtieth (60th) days of any such holdover without consent, the aforementioned percentage shall increase to one hundred seventy percent (175%) and (iii) thereafter during such holdover without consent, the percentage shall be increased to two hundred percent (200%).
Appears in 1 contract
Samples: Office Lease (Zscaler, Inc.)
Holding Over. If (a) In the event of any holding-over by Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 the consent of Landlord's consent as required above, Tenant's continued possession such holdover tenancy shall be on upon all of the basis terms of a tenancy at sufferance and Tenant this Lease as applied during the Term except that Landlord shall pay as Monthly Rent not be required to perform any work, furnish any materials or make any repairs within the Premises during the holdover period tenancy and except that Tenant shall:
(i) pay as Base Rent for each month of the holdover tenancy (which shall be in addition to all Additional Rent including the Additional Rent payable under Article 4 and Tenant’s Electricity Payment) an amount equal to the greater of (i) one hundred twenty-five percent (125%) Applicable Percentage of the fair market rental (as reasonably determined by Landlord) Base Rent which Tenant was obligated to pay for the Premises or month immediately preceding the end of the Term; and
(ii) two hundred percent if such holding over shall extend for more than 180 days after the later of (200%I) the expiration or termination of this Lease and (II) the date that Landlord notifies Tenant that Landlord may incur payment, rent concession or loss as described in clauses (x) and (y) (together with evidence of the Monthly Rent possibility of such payment, rent concession or loss) (the later of such dates, the “Damage Notice Date”), be liable to Landlord for (x) any payment or rent concession which Landlord may be required to make or give to any bona-fide third party tenant obtained by Landlord 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 or otherwise as a result of such holding-over by Tenant and Additional Rent payable under this Lease (y) the loss of the benefit of the bargain if any New Tenant shall terminate its lease by reason of the holding-over by Tenant. “Applicable Percentage” means (A) 100% for the last full month prior to first 30 days of any holdover, (B) 150% for the date 31st through the 90th day of such expiration or terminationholdover and (C) 200% thereafter.
Appears in 1 contract
Holding Over. If Tenant remains in shall pay to Landlord an amount as Rent equal to 200% of one-twelfth of the Base Rent and 200% of one-twelfth of the Additional Rent payable by Tenant during the previous Calendar Year herein provided during each month or portion thereof for which Tenant shall retain possession of the Premises ------------ or any part thereof after the expiration or earlier termination of this Lease with the express written consent Term or 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 right of possession, whether by lapse of time or otherwise (i) for except the first thirty sixty (3060) days of any such holdover period, one hundred twenty-five percent (125%holding over shall be at 150% of the Base Rent and 150% of the Additional Rent), and also shall pay all direct damages sustained by Landlord on account thereof. At the option of Landlord, expressed in a written notice to Tenant and not otherwise, any such holding over for each day a period of the holdover period thereafter, one hundred fifty percent more than sixty (150%), of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior to the date of the expiration 60) days shall constitute a renewal of this Lease or (ii) for a period of one year at the then greater of the fair market rental (for the Premises, as reasonably determined by Landlord) , or the Base Rent during the preceding year and the Additional Rent that would be applicable for such year if the PremisesTerm were one year longer. It is specifically agreed that Tenant shall have no liability for consequential damages resulting from a retention of possession beyond the expiration of the Term; provided, however, that if Landlord and shall have given to Tenant agree in writing at least sixty (60) days advance notice that a different monthly rent shall apply during such month-to-month tenancyLandlord has relet the Premises, or portions thereof, then if Tenant's holdover continues more than sixty (60) days in duration at any time after delivery of such notice, Landlord's direct damages shall include, without limitation, compensation for the monthly rent specified in loss of income on account of such written agreement shall instead apply. Except as provided in the preceding sentencereletting, the month-to-month tenancy together with any damages for which Landlord shall be on liable to third parties (including the terms party releasing the Premises, or portion thereof), and conditions reasonable legal fees and litigation costs paid by Landlord, as a result of Tenant's failure to surrender possession of the Premises. The provisions of this Lease, except that any renewal options, expansion options, rights Section 17 shall not be deemed to limit or constitute a waiver 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 remedies of rent after such holding over with Landlord's written consent shall not result in any other tenancy Landlord provided herein or at law 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationequity.
Appears in 1 contract
Samples: Lease (Orbitz Inc)
Holding Over. 1.4.1 If the Tenant remains in possession of continues to occupy the Premises ------------ after the expiration of the Term or any earlier termination of this Lease after obtaining the Landlord's express, written consent thereto,
(2) with the express written consent exception of Landlord (which consent may be withheld in Landlord's sole discretion), minor punch list items and Tenant approved long lead items that do not materially affect Tenant's use of the Premises for Tenant's intended purpose, and Landlord has tendered possession for Tenant's occupancy. And notwithstanding that such items shall not delay the Commencement Date and Tenant's obligation to pay Rent.
(3) Tenant shall not be responsible for the removal of the SCIF space and/or associated components.
(a) such occupancy shall (unless the parties hereto otherwise agree in writing) be deemed to be under a month-to-month tenancy tenancy, which shall continue until either party hereto notifies the other in writing, by at a rent equal to the greater of (i) for the first least thirty (30) days before the end of any calendar month, that the notifying party elects to terminate such holdover periodtenancy at the end of such calendar month, one hundred twenty-five percent in which event such tenancy shall so terminate;
(125%)b) anything contained in the foregoing provisions of this Section to the contrary notwithstanding, and the rental payable for each day such monthly period shall equal one-twelfth (1/12) of the holdover period thereafter, one hundred fifty percent (150%), of the Monthly Base Rent and the Additional Rent payable under the provisions of subsection 2.2 (calculated in accordance with such provisions of subsection 2.2 as if this Lease during had been renewed for a period of twelve (12) full calendar months after such expiration or earlier termination of the last full Term or such renewal); and
(c) such month-to-month prior tenancy shall be upon the same terms and subject to the date of same conditions as those set forth in the expiration provisions of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the PremisesLease; provided, howeverthat if the Landlord gives the Tenant, if Landlord and Tenant agree in writing that a different monthly rent shall apply by at least thirty (30) days before the end of any calendar month during such month-to-month tenancy, then written notice that such terms and conditions (including any thereof relating to the monthly rent amount or payment of Rent) shall, after such month, be modified in any manner specified in such written agreement shall instead apply. Except as provided in notice, then such tenancy shall, after such month, be upon the preceding sentence, the month-to-month tenancy shall be on the said 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 as Monthly Rent during the holdover period an amount equal subject to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (said conditions, as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationso modified.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease with the express written consent of has provided notice to Landlord at least ninety (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 (3090) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or Lease, such notice to include a time period (iinot exceeding six (6) months) (the then fair market rental (as reasonably determined by Landlord“Permitted Hold- Over Period”) in which Tenant intends to remain in the Premises, Tenant shall have the right to holdover possession for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such monthPermitted Hold-to-month tenancy, then Over Period under the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the same terms and conditions of this Leaseas the previous term, 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 Base Rent 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental Base Rent in effect immediately prior to the Permitted Hold- Over Period, but Tenant may terminate the 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 holdover (including following an early termination by Tenant), such possession shall be month-to-month at a rate of one hundred fifty percent (150%) of 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 reasonably determined by Landlordprovided herein, all of the other terms and provisions of this Lease (excluding any expansion or extension option or other similar right or option) for 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 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, (ii) two hundred percent any Permitted Hold-Over Period, and (200%iii) ninety (90) days after receipt of such notice, Tenant shall be liable to Landlord for the rental revenue lost by Landlord solely as a result of the Monthly Rent holdover (other than as a result of a termination of any executed lease for any portion of the Premises), and Additional Rent payable under 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 indirect or consequential damages. No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend this Lease for the last full month prior to the date of such expiration or terminationexcept as otherwise expressly provided herein.
Appears in 1 contract
Samples: Lease Agreement (ROX Financial LP)
Holding Over. If Tenant remains in will, at the expiration or 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 the such expiration or earlier termination termination, then Landlord may, at its option, serve written notice upon Tenant that such holding over constitutes either of this Lease with the express written consent (i) creation of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy, upon the terms and conditions set forth in this Lease, or (ii) creation of a tenancy at a rent 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 (ix) 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 thirty (301st) ninety (90) days of any such holdover periodholdover, the amount calculated under the foregoing clause (y) shall be based on one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, rather than 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; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during . If no such month-to-month tenancynotice is served, then a tenancy at sufferance shall be deemed to be created at the monthly rent specified in such written agreement shall instead apply. Except as provided 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 monthPremises 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-to-month tenancy out the Premises (or such portion thereof as shall be on leased) for such replacement tenant; provided that, except to the terms and conditions extent expressly enumerated in the foregoing provisions of this Leasesentence, except that Tenant shall not be liable for any renewal optionsindirect, expansion options, rights consequential or punitive damages as a consequence of first refusal, rights any holdover. The provisions of first negotiation 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 rights or options pertaining to additional space act in apparent affirmance of the Building contained in this Lease shall be deemed to have terminated and shall be inapplicable thereto. tenancy operate as a waiver of 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 as Monthly Rent during the holdover period an amount equal right to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under terminate this Lease for a breach of any of the last full month prior terms, covenants, or obligations herein on Tenant's part to the date of such expiration or terminationbe performed.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier other termination of this the Lease with the express written consent of Landlord (which consent may be withheld in Term, then, at Landlord's sole discretion)’s option, Tenant's occupancy Tenant shall be deemed to be occupying the Premises as a month-to-month tenancy tenant only, at a rent monthly rental equal to the greater of (i) for the first thirty (30) days of any such holdover periodholding over, one hundred twenty-five percent the greater of (125%), and for each day of the holdover period thereafter, a) one hundred fifty percent (150%), ) of the Monthly Annual Fixed Rent and any Additional Rent payable under this Lease hereunder during the last full month prior to the date of the expiration Lease Term and (b) one hundred fifty percent (150%) of this Lease or the then current market rent for the Premises and (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; providedthereafter, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (iia) two hundred percent (200%) of the Monthly Annual Fixed Rent and any Additional Rent payable hereunder during the last month of the Lease Term and (b) two hundred percent (200%) of the then current market rent for the Premises, and otherwise on the terms and conditions set forth in this Lease, as far as applicable. Tenant shall also pay all Additional Rent payable under the terms of this Lease Lease, prorated for each month during which Tenant remains in possession. Such month-to-month tenancy may be terminated by Landlord effective as of the last full day of any calendar month by delivery to Tenant of notice of such termination prior to the date first day of such calendar month. Landlord waives no rights against Tenant by reason of accepting any holding over by Tenant and Tenant shall defend, indemnify and hold Landlord harmless from and against any and all claims, losses and liabilities for damages resulting from failure to surrender possession within forty-five (45) days after the Expiration Date, including, without limitation, any claims made by any succeeding tenant and any lost profits, and such obligations shall survive the expiration or terminationsooner termination of this Lease. The provisions of this Section 20.17 shall not in any way be deemed to (i) permit Tenant to remain in possession of the Premises after the Expiration Date or sooner termination of this Lease, or (ii) imply any right of Tenant to use or occupy the Premises upon expiration or termination of this Lease and the Lease Term, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the Lease Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 20.17. Tenant’s obligations under this Section 20.17 shall survive the expiration or earlier termination of this Lease.
Appears in 1 contract
Samples: Lease (Protara Therapeutics, Inc.)
Holding Over. If Tenant remains in retains possession of the Premises ------------ or any part thereof after the expiration end of the Term or earlier termination of this Lease with Tenant’s right to possession of the express written consent Premises (it being agreed that Tenant’s failure to timely remove all Tenant’s Property and all the Required Removables from the Premises shall also be considered a retention of Landlord (which consent may be withheld in Landlord's sole discretionthe Premises by Tenant), Tenant's occupancy then such retention of possession shall be considered a tenancy “at will” or “sufferance” (and not 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%tenancy), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period for such holding over in an amount equal to the greater of sum of: (ia) one hundred twenty-five percent (125%) of the fair market rental monthly Rent in effect immediately preceding such holding over computed on a monthly basis for each of the first two (as reasonably determined by Landlord2) for the Premises months or partial months that Tenant remains in possession; plus (iib) two one hundred fifty percent (200150%) of the Monthly monthly Rent and Additional Rent payable under this Lease in effect immediately preceding such holding over computed on a monthly basis for each month or partial month that Tenant remains in possession after such first two (2) months or partial months. In addition to the last full month prior payment of the amounts provided above, if Landlord is unable to timely deliver possession of the Premises to a third party as a result of Tenant’s holdover then, provided Landlord has provided written notice to Tenant that Landlord may be subject to damages or penalties imposed by such third party because Landlord is unable to timely deliver possession of the Premises to such third party on or before a date that is not more than 60 days after the date of such notice, Tenant shall be liable to Landlord for all damages including, but not limited to, consequential damages that Landlord suffers from the holdover; provided, however, Tenant shall only be liable to Landlord for consequential damages if Tenant retains possession of the Premises or any part thereof after the end of the Term or termination of Tenant’s right to possession of the Premises (it being agreed that Tenant’s failure to timely remove all Tenant’s Property and all the Required Removables from the Premises shall also be considered a retention of the Premises by Tenant) for ninety (90) or more days after the expiration or terminationtermination (as applicable) of the Term. 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 or right of tenancy between Landlord and Tenant.
Appears in 1 contract
Samples: Lease Agreement (NEUROONE MEDICAL TECHNOLOGIES Corp)
Holding Over. If Any holding over by Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of the Term of this Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion)term shall include, Tenant's occupancy without limitation, the failure of Tenant or any Tenant Party to perform all of its obligations under Section 16.4 above) shall be treated as a month-to-month monthly 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%), will and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 in the preceding sentence, the month-to-month tenancy 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 (the “Holdover Charge”) equal to:
(a) One hundred percent (100%) of the 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 initial thirty (30) days of such holding over;
(b) One hundred fifty percent (150%) of the 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 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 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, except that any renewal options, expansion options, 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 first refusal, rights Tenant’s holding over in the Premises beyond the expiration of first negotiation or the then Term of the Lease. Nothing in the foregoing nor any other rights term or options pertaining to additional space in the Building contained in provision of 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 permit Tenant to retain possession of the original term of this Lease. If Tenant remains Premises or hold over in possession of 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 without Landlord's consent as required aboveor, Tenant's continued possession if applicable, the expiration of any occupancy in accordance with the holdover provisions of this Section 16.18, shall be on conclusively deemed to be abandoned and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the basis proceeds of a tenancy such sale and apply the same, at sufferance and Tenant shall pay as Monthly Rent during its option against the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) expenses of the fair market rental (as reasonably determined sale, the cost of moving and storage, any arrears of rent or other charges payable hereunder by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent Tenant to Landlord and Additional Rent payable any damages to which Landlord may be entitled under this Lease for the last full month prior to the date of such expiration or terminationand at law and in equity.
Appears in 1 contract
Samples: Lease Agreement (CarGurus, Inc.)
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease provides Landlord with the express written consent of Landlord notice (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy "HOLDOVER NOTICE") at a rent equal to the greater of (i) for the first least thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day prior to expiration of the holdover period thereafterLease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, one hundred fifty percent Tenant shall have the right (150%)and, of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior subject to the date of grace periods described below, the obligation) to hold over after the expiration of this the Lease or Term until the date (ii"HOLDOVER NOTICE DATE") the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyHoldover Notice (but not in excess of one hundred twenty (120) days after the expiration of the Lease Term or applicable Extension Term). Except as provided in the preceding sentenceAny holdover tenancy (including without limitation, the month-to-month any holdover tenancy pursuant to a Holdover Notice) shall be on the terms subject to every applicable term, covenant and conditions of this Leaseagreement contained herein, except that any renewal options, expansion options, rights the Base Rent payable by Tenant for the Premises (irrespective of first refusal, rights the amount of first negotiation or any other rights or options pertaining space Tenant continues to additional space occupy in the Building contained in this Lease Building) shall be deemed escalated 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 equal one hundred ten percent (110%) of the original term then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days 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 such holdover occupancy and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of such amount during the fair market rental next succeeding ninety (as reasonably determined by Landlord90) for the Premises or days and from and after such one hundred eighty (ii180) two day period, Rent shall equal one hundred fifty percent (200150%) of such amount thereafter; provided, however, subject to the Monthly next sentence of this Article 16, such holdover Rent and Additional Rent payable 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 for Lease. If Tenant properly delivers the last full month 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 holdover until the date which is one hundred five (105) days after the expiration of the Lease Term or applicable Extension Term and Tenant's obligation to pay holdover Rent and Additional Rent shall be prorated on a per diem basis until the later of the forty-fifth (45th) 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 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 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 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) and liability resulting from such expiration failure, including, without limiting the generality of the foregoing, any claims made by 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 any lease or terminationsigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Samples: Office Lease (Peregrine Systems Inc)
Holding Over. If Tenant remains in retains possession of the Premises ------------ after the termination or expiration of the 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 time, and all of the other terms and provisions of this Lease (excluding any expansion or earlier 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 with the express written consent of Lease, Tenant shall pay to Landlord a holdover charge, computed on a monthly basis for each month or part thereof during such holding over, as follows: (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 (ia) for the first thirty (30) days of any such said holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, an amount equal to one hundred fifty percent (150%), ) of the Monthly Base 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; provided, 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 in the preceding sentence, the month-to-month tenancy shall be effect on the terms termination or expiration date; and conditions (b) if such holdover continues for more than thirty (30) days after the Expiration Date or sooner termination 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) 200% of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Base Rent and Additional Rent payable under this Lease for the last full calendar month prior of the Term. In addition, if such holdover continues for 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 as otherwise expressly provided, and this Paragraph 19(f) shall not be construed as consent for Tenant to retain possession of the date of such expiration or terminationPremises.
Appears in 1 contract
Samples: Sublease (Karuna Therapeutics, Inc.)
Holding Over. If Tenant, with or without the express or implied consent of Landlord, continues to hold and occupy the Leased Property (or any part thereof) after the expiration of the Term or earlier termination of this Lease (other than pursuant to Tenant’s purchase of the Leased Property), such holding over beyond the Term and the acceptance or collection of Rent in the amount specified below by Landlord shall operate and be construed as creating a tenancy from month to month and not for any other term whatsoever. Said month-to-month tenancy may be terminated by Landlord by giving Tenant remains in five days written notice, and at any time thereafter Landlord may re-enter and take possession of the Premises ------------ Leased Property. If, without Landlord’s consent or at Landlord’s request, Tenant continues after the expiration of the Term or earlier termination of this Lease to hold and occupy the Leased Property whether as a month-to-month tenant or a tenant at sufferance or otherwise, Tenant shall pay Rent for each month in an amount equal to the sum of [i] one and one-half (1-1/2) times the 3360\019:05/27/04 --LEASE 7 TBARKE\COLUMBIA PACIFIC XXX\XXXXX XXXXXXX Base Rent payable during the month in which such expiration or termination occurs, plus [ii] all General Additional Rent accruing during the month, plus [iii] any and all other sums payable by Tenant pursuant to this Lease. During any continued tenancy after the expiration of the Term or earlier termination of this Lease, Tenant shall be obligated to perform and observe all of the terms, covenants and conditions of this Lease, but shall have no rights hereunder other than the right, to the extent given by applicable law, to continue its occupancy and use of the Leased Property until the tenancy is terminated. Nothing contained herein shall constitute the consent, express or implied, of Landlord to the holding over of Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration of the Lease Term or earlier termination of this Lease thereof, with or without the express written or implied consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy 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 rent monthly rate (the "HOLD OVER BASE RENT") equal to one hundred fifty percent (150%) of the greater Base Rent applicable during the last rental period of (i) the Lease Term under this Lease; provided, however, for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day only following the expiration or earlier termination of the holdover period thereafterLease Term, one hundred fifty percent (150%), Tenant shall not be required to pay Hold Over Base Rent applicable to any full floor of the Monthly Rent Building completely vacated and Additional Rent payable under this Lease during the last full month prior surrendered to Landlord pursuant to the date terms and conditions of Article 15, above; provided, further, however, following the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for such 30-day period, if Tenant continues its hold over in any portion of the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then Tenant shall be required to pay Hold Over Base Rent applicable to the monthly rent specified in such written agreement shall instead applyentire Premises. Except as provided in the preceding sentence, the Such month-to-month tenancy shall be on subject to every other applicable term, covenant and agreement contained herein. Notwithstanding the terms foregoing, Original Tenant and conditions any Permitted Transferee (but only to the extent such Permitted Transferee has, in Landlord's reasonable determination, financial strength equal to or greater than Original Tenant) shall have the 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 (the "PERMITTED HOLDOVER TERM"), in which case the Rent payable by Tenant during such Permitted Holdover Term shall equal the product of (A) the Rent applicable during the last monthly rental period of the Lease Term under this Lease, except that any renewal options, expansion options, rights of and (B) a percentage equal to one hundred percent (100%) during the 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 three (3) months immediately following the expiration or earlier termination of this the Lease without Landlord's consent as required aboveTerm, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125150%) thereafter. The right of Tenant to extend the Lease Term as provided in this Article 16 may not be exercised if, as of the fair market rental (date Tenant delivers the Holdover Notice to Landlord, or as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable commencement of such Permitted Holdover Term, Tenant is in material or economic default under this Lease for (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 last full previous twelve (12) month prior period. Except with respect to the date 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 such the Premises to Landlord as provided in this Lease upon the expiration or terminationother 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 Article 16 with regard to a Permitted Holdover Term, if Tenant fails to surrender the Premises upon the termination or expiration of this Lease (or upon the expiration of the Permitted Holdover Term, if any), 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 lost profits to Landlord resulting therefrom.
Appears in 1 contract
Samples: Office Lease (Fair Isaac Corp)
Holding Over. If Tenant remains in possession provides Landlord with written notice no later than twenty (24) months prior to the expiration of the Lease Term, Tenant may hold over in the entire Premises ------------ (i.e., the entire Premises leased by Tenant immediately prior to the expiration of the Lease) for a term of between one (1) to twelve (12) months (“Permitted Holdover Period”) at the then-current escalated annual base rental (i.e., if such holdover period extends beyond October 31, 2017, the annual base rent payable for the period beginning on November 1, 2017 and ending twelve (12) months after the expiration or earlier termination of this the Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy Term shall be a month-to-month tenancy at a rent an amount equal to the greater product of the annual base rent payable during Lease Year 13 multiplied by 1.025). Tenant shall identify the Permitted Holdover Period in its written notice to Landlord. If Tenant holds over either: (i) for the first thirty (30) days of any without such holdover periodnotice to Landlord, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) after the Permitted Holdover Period, then fair market rental (as reasonably determined by Landlordx) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly holdover rent shall apply during such monthbe an amount equal to 150% of the then-to-month tenancycurrent base rental rate, then the monthly rent specified in such written agreement plus all additional rent, and (y) Tenant shall instead apply. Except as provided in the preceding sentence, become a tenant by the month-to-month tenancy . As a monthly tenant, Tenant shall be on subject to all the terms terms, conditions, covenants, and conditions agreements of this Lease, except that (a) Section 23.1 shall have no further force or effect, and (b) Landlord may withhold its consent to a proposed assignment or subletting in the exercise of its sole and absolute subjective discretion. Tenant shall give to Landlord at least thirty (30) days’ written notice of any renewal optionsintention to quit the Premises, expansion optionsand Tenant shall be entitled to thirty (30) days’ written notice to quit the Premises, rights 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 first refusalthis Section 22.1, rights if Tenant shall hold over after the expiration of first negotiation the Lease Term or any other rights or options pertaining Permitted Holdover Period, if applicable, and if Landlord shall desire 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 regain possession of the Premises after promptly at the expiration or earlier termination thereof, then at any time before Landlord’s acceptance of this Lease without rent from Tenant as a monthly tenant hereunder, Landlord's consent as required above, Tenant's continued at its option, may forthwith re-enter and take possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined Premises without process, or by Landlord) for any legal process in force in the Premises or (ii) two hundred percent (200%) State of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationMaryland.
Appears in 1 contract
Holding Over. If Tenant remains should remain in possession of all or any portion of the Premises ------------ Tenant Space after the expiration of the Term of this Lease (or any earlier termination of this Lease with or the express written consent termination of Landlord (which consent may be withheld in Landlord's sole discretionTenant’s right to possess the Tenant Space), Tenant's occupancy without the execution by Landlord and Tenant of a new lease or an extension of the Term of this Lease, then Tenant shall be deemed to be occupying the entire Tenant Space as a monthtenant-toat-month tenancy at a rent equal sufferance, upon all of the terms contained herein, except as to the greater of (i) for the first thirty (30) days of term and Base Rent and any other provision reasonably determined by Landlord to be inapplicable. During any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly to Landlord (A) monthly Base Rent during the holdover period in an amount equal to the greater of (i) one hundred twenty-five percent (125%) with respect to the first sixty (60) days of the fair market rental (as reasonably determined by Landlord) for the Premises or such holdover, (ii) one hundred fifty percent (150%) with respect to the next thirty (30) days of such holdover, and (iii) two hundred percent (200%) thereafter, of the Monthly greater of (i) Landlord’s then published asking base rent rate for space comparable to the Tenant Space or (ii) the Base Rent and payable by Tenant to Landlord during the last month of the Term of this Lease, plus (B) one hundred percent (100%) of the Additional Rent payable under this Lease for by Tenant to Landlord during the last full month prior to of the date Term of this Lease. The monthly rent payable for such holdover period shall in no event be construed as a penalty or as liquidated damages for such retention of possession. Neither any provision hereof nor any acceptance by Landlord of any rent after any such expiration or terminationearlier termination shall be deemed a consent to any holdover hereunder or result in a renewal of this Lease or an extension of the Term, or any waiver of any of Landlord’s rights or remedies with respect to such holdover. Notwithstanding any provision to the contrary contained herein, (a) Landlord expressly reserves the right to require Tenant to surrender possession of the Tenant Space upon the expiration of the Term of this Lease or upon the earlier termination hereof or at any time during any holdover and the right to assert any remedy at law or in equity to evict Tenant and collect damages in connection with any such holdover, and (b) Tenant shall indemnify, defend and hold the Landlord Group harmless from and against any and all Claims (including, without limitation, the attorneys’ fees, consultants’ fees and court costs incurred or suffered by Landlord, and all lost profits and other consequential damages asserted against Landlord) arising out of or in any manner related to Tenant’s failure to surrender the Tenant Space upon the expiration or earlier termination of this Lease or upon termination of Tenant’s right to possess the Tenant Space in accordance with the provisions of this Lease, and (c) Tenant shall pay to Landlord Base Rent at the holdover rates set forth in this Section 13.3 from the first day following the expiration or earlier termination of this Lease through the entire period of such holdover.
Appears in 1 contract
Holding Over. If SECTION 10.1. Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 continue to occupy the Premises after the expiration or earlier termination of the Term or any renewal thereof, unless Landlord consents in writing to such continuation of occupancy, in which event such occupancy shall (unless the parties hereto otherwise agree in writing) be deemed to 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. The rental payable with respect to each monthly period of such month-to-month tenancy shall equal one-twelfth (1/12th) of the Base Rent and the Additional Rent payable under the provisions of Article 4 (calculated in accordance with such provisions of Article 4 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). Except as expressly provided otherwise, such month-to-month tenancy shall be upon the same terms and subject to the same conditions as those set forth in the provisions of this Lease.
SECTION 10.2. In the event Tenant holds over without Landlord's written consent as required aboveobtained prior to the expiration or earlier termination of the Term, Tenant's continued possession shall be on , during the basis period of a tenancy at sufferance and Tenant its possession, shall pay as Monthly to Landlord on a monthly basis Rent during the holdover period an amount equal to one-twelfth of twice the greater amount of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Base Rent and Additional Rent payable paid to Landlord under this the provisions of Article 4 during the Lease for Year immediately preceding the last full month prior to the date of such expiration or terminationearlier termination of the Term, and Landlord shall have the right to enter (forcibly if necessary) the Premises and to remove Tenant and its property from the Premises, including storage of Tenant's property, all at Tenants's cost and expense, and Landlord shall have no liability therefor except in the event of Landlord's gross negligence or wilful misconduct.
Appears in 1 contract
Holding Over. If (a) Tenant remains must obtain the prior consent of Landlord in order to remain 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 Leaseend. If Tenant remains in possession of the Premises after Lease end without obtaining the expiration prior consent of Landlord:
(i) such occupancy shall constitute an unlawful detainer of the Premises (and Tenant shall be subject to an unlawful detainer action therefor), for which period of occupancy Tenant shall pay to Landlord a rental (and not a penalty) in the amount of (A) one hundred fifty percent (150%) of the last Rent payable by Tenant to Landlord for the first month of such occupancy, plus all other charges payable under this Lease, and (B) two hundred percent (200%) of the last Rent payable by Tenant to Landlord for each month of such occupancy thereafter, plus all other charges payable under this Lease; and
(ii) Tenant shall reimburse Landlord within thirty (30) 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 earlier termination 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 without Landlord's consent as required above, Tenant's continued possession and provisions of Utah law applicable to a month-to-month tenancy (which tenancy shall be on terminable as of the basis end of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal any calendar month by notice given by either Party to the greater 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 (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined last Rent payable by Landlord) Tenant to Landlord for the Premises or first month of such occupancy, plus all other charges payable under this Lease, and (ii) two one hundred fifty percent (200150%) of the Monthly last Rent and Additional Rent payable by Tenant to Landlord for each month of such occupancy thereafter, plus all other charges payable under this Lease for the last full month prior Lease.
(c) Notwithstanding anything contained in this Paragraph 17.2 to the contrary, on any termination of this Lease pursuant to Paragraphs 8.4(b), 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 or terminationof such thirty (30)-day period.
Appears in 1 contract
Samples: Lease (Purple Innovation, Inc.)
Holding Over. If Tenant remains in possession of possesses the Premises ------------ after the expiration Term expires or earlier termination of this Lease is otherwise terminated without executing a new lease but with the express Landlord's written consent of Landlord (which consent may be given or withheld by Landlord in Landlord's its sole discretion) (such period being hereinafter referred to as (the "Permitted Holdover Period"), Tenant's occupancy shall Tenant is deemed to be occupying the Premises during the Permitted Holdover Period as a tenant from month-to-month tenancy at a rent equal month, subject to the greater of (i) for the first thirty (30) days of any such holdover periodall provisions, one hundred twenty-five percent (125%), conditions and for each day of the 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 obligations of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that applicable to a different monthly rent shall apply during such month-to-month tenancy, then except that (a) Rent during the monthly rent specified in such written agreement shall instead apply. Except as provided Permitted Holdover Period will equal 125% of the greater of (i) the Rent payable by Tenant in the preceding sentence, last Lease Year of the month-to-month tenancy shall be Term or (ii) the basic rent and additional rent (on a daily basis) Landlord charges during 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 Permitted Holdover Period on new leases in the Building contained in this Lease shall be deemed Property for space similar to have terminated the Premises, and shall be inapplicable thereto(b) either Landlord or Tenant may terminate the Permitted Holdover Period at any time upon thirty (30) days prior written notice to the other party. Landlord's acceptance of rent after The permitted Holdover Period will not exceed three months. If Landlord does not give its written consent to such holding over with Landlord's by Tenant and Tenant nevertheless possesses the Premises after the Term expires or is otherwise terminated, or if Landlord gives its written consent shall not result in any other tenancy or in a renewal of the original term of this Lease. If as provided above but Tenant remains in possession of the Premises after the expiration or earlier termination of the Permitted Holdover Period, Tenant is deemed to be occupying the Premises without claim of right (but subject to all terms and conditions of this Lease without Landlord's consent as required aboveLease) and, in addition to Tenant's continued liability for failing to surrender possession shall be on of the basis Premises as provided in Section 18.1, Tenant will pay Landlord a charge for each day of a tenancy at sufferance and Tenant shall pay as Monthly Rent during occupancy after expiration of the holdover period Term (or after the expiration of the Permitted Holdover Period, if applicable) in an amount equal to double the greater of Tenant's then-existing Rent or the basic rent and additional rent (ion a daily basis) one hundred twenty-five percent (125%) Landlord charges at the time of the fair market rental (as reasonably determined by Landlord) for holdover on new leases in the Premises Property or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior space similar to the date of such expiration or terminationPremises.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration of the Lease Term hereof, with or earlier termination of this Lease with without the express written or implied consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy 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 rent monthly rate 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market greater of (i) the Base Rent applicable during the last rental (as reasonably determined by Landlord) for period of the Premises Lease Term under this Lease or (ii) two the fair market rental rate for the Premises as of the commencement of such holdover period; provided, however, that if Tenant holds over after the expiration of the Lease Term hereof with the express consent of Landlord, in such case Base Rent shall be payable (x) for the first (1st) thirty (30) days following expiration of the Lease Term at a monthly rate equal to the Base Rent applicable during the last rental period of the Lease Term under this Lease, and (y) thereafter, one hundred twenty-five percent (200125%) of the Monthly greater of (i) the Base Rent and Additional Rent payable applicable during the last rental period of the Lease Term under this Lease or (ii) the fair market rental rate for the last full month prior to Premises as of the date commencement of such holdover period. 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 this Lease upon the expiration or terminationother termination of this Lease. The provisions of this Section 20 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 Claims resulting from such failure, including but not limited to, any Claims made by any succeeding tenant founded upon such failure to surrender, and any lost profits to Landlord resulting therefrom.
Appears in 1 contract
Samples: Lease Agreement (Loudcloud Inc)
Holding Over. If So long as Tenant remains gives Landlord at least ninety (90) days’ prior written notice of its intention to remain in possession of the Premises ------------ Building after the expiration of the Term, or earlier termination any Option Term, specifying the approximate length of this Lease with time Tenant intends to remain in possession, then Tenant shall have the express written consent right to remain in possession of Landlord the Building for up to six (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to6) successive one-month tenancy at a rent equal periods after such expiration, pursuant to the greater of (i) for the first thirty (30) days of any such holdover periodterms, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 in the preceding sentence, the month-to-month tenancy shall be on the terms covenants and conditions of this Lease, except with respect to the length of the Term and 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 Monthly Base Rent shall be deemed increased 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 an amount equal to One Hundred Twenty-Five Percent (125%) of the original term of this LeaseMonthly Base Rent in effect during the last month immediately preceding such expiration. If Tenant remains in possession of the Premises Building after the expiration of the Term, or earlier termination any Option Term, without providing such prior written notice to Landlord, or if Tenant remains in possession of this Lease the Building after the aforesaid six (6) month maximum holdover period, with or without Landlord's consent as required above’s written consent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) Landlord for each such day thereafter that Tenant retains possession of the fair market rental Building or part of it at the rate (as reasonably determined by Landlord"Holdover Rate") for the Premises or (ii) two hundred percent which shall be Two Hundred Percent (200%) of the Monthly amount of the Base Rent and Additional Rent payable under this Lease for the last full month period prior to the date of such expiration. Such Monthly Base Rent and all additional rent under Article 4 shall be prorated on a daily basis. Additionally, if Tenant remains in possession of the Building after the expiration of the Term, or any Option Term, without providing such prior written notice to Landlord, or if Tenant remains in possession of the Building after the aforesaid six (6) month maximum hold over period, and such hold over is without Landlord’s written consent, Tenant shall also pay all damages actually sustained by Landlord by reason of such retention. If Landlord gives notice to Tenant of Landlord’s election to such effect, Landlord and Tenant may elect to mutually agree in a written amendment to this Lease that any such holding over described above shall constitute renewal of this Lease for a period from month to month or one (1) year, whichever is specified in such notice, in either case at a Monthly Base Rent amount mutually agreed upon by the parties, 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 1 contract
Samples: Industrial Net Lease (Dexcom Inc)
Holding Over. If Tenant 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 ’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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Rent 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 or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyLease. 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 ’s acceptance of rent after such holding over with Landlord's ’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’s consent, Tenant's ’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200150%) of the Monthly Rent Rent, Tenant’s Electrical Charge and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Holding Over. If Tenant 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 will not be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy at a rent equal permitted 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 hold 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 the Term without the express written consent of Landlord's , which consent Landlord may withhold in its sole and absolute discretion. If Tenant holds over after the expiration or earlier termination of the Term, Landlord may, at its option, treat Tenant as required abovea tenant at sufferance only, Tenant's and such continued possession occupancy by Tenant shall be subject to all of the terms, covenants and conditions of this Lease, so far as applicable, except that beginning on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during date that is thirty (30) days after the holdover period an amount has commenced, the Monthly Base Rent for any such holdover period shall be increased to be equal to the greater of (i) one hundred twenty-five fifty percent (125150%) of the Monthly Base Rent in effect under this Lease immediately prior to such holdover, or (ii) the then current fair market rental (rate for the Premises, as reasonably determined by Landlord) , in either event prorated on a monthly basis; provided, however, holdover rent for the Premises or first thirty (ii30) two hundred percent (200%) days of the Monthly Rent holdover will not be prorated and Additional Rent payable a minimum of a full month’s worth of holdover rent shall be due, whether Tenant holds over one (1) day or all thirty (30) days. Acceptance by Landlord of rent after such expiration or earlier termination will not result in a renewal of this Lease. The foregoing provisions of this Paragraph 11 are in addition to and do not affect Landlord’s right of re-entry or any rights of Landlord under this Lease for or as otherwise provided by law. If Tenant fails to surrender the last full month prior Premises upon the expiration of this Lease in accordance with the terms of this Paragraph 11 despite demand to do so by Landlord, 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 legal fees and costs), including, without limitation, costs and expenses incurred by Landlord in returning the Premises to the date condition in which Tenant was to surrender it and claims made by any succeeding tenant founded on or resulting from Tenant’s failure to surrender the Premises. The provisions of such this Subparagraph 11(b) will survive the expiration or terminationearlier termination of this Lease.
Appears in 1 contract
Holding Over. Article 16 of the Existing Lease is hereby deleted and replaced in its entirety with the following: "If Tenant remains in possession of the Premises ------------ holds over after the expiration of the Lease Term or earlier termination of this Lease thereof, with or without the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Tenant shall pay Rent at a rent monthly rate equal to the greater of (ia) for the first thirty (30) days of any such holdover periodholding over, one hundred twenty-five percent (125100%) of the Base Rent payable by Tenant immediately prior to such holding over (without regard to any abatements of Rent on account of casualty or otherwise), plus Tenant's Share of Operating Expenses and Tax Expenses, computed on a monthly basis for each day of the holdover period full or partial month Tenant remains in possession; and (ii) thereafter, an amount equal to one hundred fifty percent (150%) of the Base Rent payable by Tenant immediately prior to such holding over (without regard to any abatements of Rent on account of casualty or otherwise), plus Tenant's Share of the Monthly Rent Operating Expenses and Additional Rent payable under this Lease during the last Tax Expenses, computed on a monthly basis for each full or partial 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; provided, however, if Landlord and Tenant agree remains 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 applypossession. Except as provided in the preceding sentence, the Such month-to-month tenancy shall be on subject to every other applicable term, covenant and agreement contained herein. If Tenant holds over after any such month-to-month tenancy has been terminated, then Tenant shall be a tenant at sufferance only, for the entire Premises upon all of the terms and conditions of this Lease as might be applicable to such tenancy; provided, however, that, as liquidated damages and not as a penalty, Tenant shall pay Base Rent at a monthly rate equal to one hundred fifty percent (150%) of the Base Rent payable by Tenant immediately prior to such holding over (without regard to any abatements of Rent on account of casualty or otherwise), plus Tenant's Share of Operating Expenses and Tax Expenses, computed on a monthly basis for each full or partial month Tenant remains in possession. 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 termination of this Lease, except that any renewal options, expansion options, rights . The provisions of first refusal, rights this Article 16 shall not be deemed to limit or constitute a waiver of first negotiation or any other rights or options pertaining remedies of Landlord provided herein or at law. If Tenant fails to additional space in surrender 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 Premises upon the termination or in a renewal of the original term expiration of this Lease. If , in addition to any other liabilities to Landlord accruing therefrom, Tenant remains in possession shall protect, defend, indemnify and hold Landlord harmless from all Claims resulting from such failure, including, without limiting the generality of the Premises after the expiration or earlier termination of this Lease without Landlord's consent as required aboveforegoing, Tenant's continued possession shall be on the basis of a tenancy at sufferance any Claims made by any succeeding tenant founded upon such failure to surrender and Tenant shall pay as Monthly Rent during the holdover period an amount equal any lost profits to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationLandlord resulting therefrom."
Appears in 1 contract
Samples: Lease (ShoreTel Inc)
Holding Over. If Tenant remains or anyone claiming by, through or under Tenant shall remain in possession of all or any part of the Premises ------------ (which shall include Tenant’s failure to comply with Section 5.5(e) of this Lease or a failure by Tenant to remove any Tenant’s Removable Property or Alterations as required under this Lease) after the expiration or earlier termination of the Term of this Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion)Lease, Tenant's occupancy such holding over shall be treated as a month-to-month daily tenancy at sufferance at a rent Basic Rent equal to the greater of (i) the fair market rental rate for the Premises based upon the most recent comparable transactions for the Building and in transactions for comparable space on the same floor or above in Comparable Buildings, and (ii) (y) one hundred fifty percent (150%) of the Basic Rent in effect for the last rental period of the Term for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancyTenant’s holdover, then the monthly rent specified in such written agreement shall instead apply. 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (iiz) two hundred percent (200%) of the Monthly Basic Rent and Additional Rent payable under this Lease in effect for the last full month prior rental period of the Term for the period following the first thirty (30) days of Tenant’s holdover, in all events plus Expense Charges and other Additional Rent herein provided (prorated on a daily basis). If any such holding over continues for more than thirty (30) days, then, in addition to the date any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs and damages, direct and/or indirect, sustained by reason of any such holding over, including, without limitation, claims made by and loss of any succeeding tenant arising out of such expiration failure to timely surrender possession in the condition required under this Lease. In all other respects, such holding over shall be on the terms and conditions set forth in this Lease as far as applicable (and excluding any extension, expansion or terminationrights of first offer of tenant) in the Lease. Nothing contained in this Article 12 shall be construed as a consent by Landlord to any holding over by Tenant, and Landlord shall have the right to immediately terminate such holding over pursuant to applicable Law. The provisions of this Article 12 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law.
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Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease provides Landlord with the express written consent of Landlord notice (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy "HOLDOVER NOTICE") at a rent equal to the greater of (i) for the first least thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day prior to expiration of the holdover period thereafterLease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, one hundred fifty percent Tenant shall have the right (150%)and, of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior subject to the date of grace periods described below, the obligation) to hold over after the expiration of this the Lease or Term until the date (ii"HOLDOVER NOTICE DATE") the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyHoldover Notice (but not in excess of one hundred twenty (120) days after the expiration of the Lease Term or applicable Extension Term). Except as provided in the preceding sentenceAny holdover tenancy (including without limitation, the month-to-month any holdover tenancy pursuant to a Holdover Notice) shall be on the terms subject to every applicable term, covenant and conditions of this Leaseagreement contained herein, except that any renewal options, expansion options, rights the Base Rent payable by Tenant for the Premises (irrespective of first refusal, rights the amount of first negotiation or any other rights or options pertaining space Tenant continues to additional space occupy in the Building contained in this Lease Building) shall be deemed escalated 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 equal one hundred ten percent (110%) of the original term then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days 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 such holdover occupancy and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of such amount during the fair market rental next succeeding ninety (as reasonably determined by Landlord90) for the Premises or days and from and after such one hundred eighty (ii180) two day period, Rent shall equal one hundred fifty percent (200150%) of such amount thereafter; provided, however, subject to the Monthly next sentence of this Article 16, such holdover Rent and Additional Rent payable 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 for Lease. If Tenant properly delivers the last full month 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 PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] 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 holdover until the date which is one hundred five (105) days after the expiration of the Lease Term or applicable Extension Term and Tenant's obligation to pay holdover Rent and Additional Rent shall be prorated on a per diem basis until the later of the forty-fifth (45th) 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 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 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 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) and liability resulting from such expiration failure, including, without limiting the generality of the foregoing, any claims made by 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 any lease or terminationsigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Holding Over. Tenant will, at the expiration or termination of this Lease by lapse of time or otherwise, yield up immediate possession to Landlord. If Tenant remains in retains possession of the Premises ------------ or any part thereof after the such expiration or earlier termination of this Lease with the express termination, then Landlord may, at its option, serve 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 notice upon Tenant that such holding over constitutes any one of (i) for the first thirty (30) days creation of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 in the preceding sentence, the month-to-month tenancy shall be on upon the terms and conditions of set forth in 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 (ii) creation of a tenancy at sufferance (with the right to lock-out Tenant pursuant to Section 19(C) below), in any case upon the terms and conditions set forth in this Lease; provided, however, that the monthly Base Rent (or daily Base Rent under (ii)) shall, in addition to all other sums which are to be paid by Tenant shall pay hereunder, whether or not as Monthly Rent during the holdover period an amount additional Rent, be equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) Base Rent being paid monthly to Landlord under this Lease immediately prior to such termination for the first thirty (30) days of Tenant’s holdover, and thereafter at a rate of one hundred fifty percent 150% of the Base Rent being paid monthly to Landlord under this Lease immediately prior to such termination. Such holdover Base Rent shall be prorated on the basis of a 365-day year for each day Tenant remains in possession. Tenant shall be liable for consequential damages to Landlord for any holdover, provided Landlord gives Tenant written notice (“Holdover Notice”) that Landlord has entered into another lease with an tenant for all or part of the Premises, and Tenant fails to vacate and surrender the Premises within thirty (30) days following the later of (i) the expiration or earlier termination of this Lease and (ii) two hundred percent (200%) the date Tenant receives the Holdover Notice. In addition to the foregoing, Tenant shall also pay to Landlord 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 Monthly Premises. Upon request of Tenant, Landlord shall advise Tenant within sixty (60) days of the expiration or termination date, of any situation or condition which may give rise to consequential damages. The provisions of this paragraph shall not constitute a waiver by Landlord of any right of re-entry as herein set forth; nor shall receipt of any Rent and Additional Rent payable under or any other act in apparent affirmance of the tenancy operate as a waiver of the right to terminate this Lease for a breach of any of the last full month prior terms, covenants, or obligations herein on Tenant’s part to the date of such expiration or terminationbe performed.
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Holding Over. If Should Tenant remains in possession hold over after the termination of this Lease, whether such termination occurs by lapse of time or otherwise, Tenant shall become a tenant from day-to-day upon each and all of the Premises ------------ after terms herein provided as may be applicable to such a tenancy, and any such tenancy shall not constitute an extension of this Lease; provided, however, during such period as a tenant from day-to-day, Tenant shall pay all Additional Rent therefor, together with Base Rent at a rate equal to one hundred fifty percent (150%) of the expiration or earlier Base Rent which was payable for the month immediately preceding the date of termination of this Lease with and, in addition, Tenant shall reimburse Landlord for all damages (consequential as well as direct) sustained by Landlord by reason of Tenant’s occupying the express written consent Leased Premises past the termination date. Alternatively, at the election of Landlord (which consent may be withheld and expressed in Landlord's sole discretion)a written notice to Tenant and not otherwise, Tenant's occupancy such retention of possession past the termination date shall be constitute a month-to-month tenancy upon each and all of the terms herein provided as may be applicable to such month-to-month tenancy; provided, however, during such period as a tenant from month-to-month, Tenant shall pay Base Rent at a rent rate 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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Base Rent and Additional Rent which was payable under this Lease during for the last full month prior to immediately preceding the date of the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 termination of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination The provisions of this Lease without Article 8 shall not exclude nor waive Landlord's consent as required above, Tenant's continued possession shall be on the basis ’s right of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twentyre-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises entry or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration any other right or terminationremedy hereunder.
Appears in 1 contract
Samples: Office Lease (Heatwurx, Inc.)
Holding Over. If Tenant 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 agreed upon by Landlord and Tenant, but in no event less than 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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Rent 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 or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required aboveconsent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent Rent, Tenant's Electrical Charge and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration of the Lease Term hereof, with or earlier termination of this Lease with without the express written or implied consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from 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%)only, and shall not constitute a renewal hereof or an extension for each day of any further term, and in such case the holdover period thereafter, one hundred fifty percent (150%), of monthly Base Rent shall be adjusted upward from the Monthly Rent and Additional monthly Base Rent payable under this the Lease during the last full month prior of the Term of the Lease, taking into account the rent abatement with respect to the date Abated Space set forth in Section 3.2 of the expiration Lease ("Final Month's Base Rent") commencing as of this Lease or the second (ii2nd) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during month of such month-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of follows: (i) to one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) Final Month's Base Rent for the Premises or second (2nd) month of such month-to-month tenancy,- (ii) two to one hundred forty percent (200140%) of the Monthly Final Month's Base Rent and Additional Rent payable under this Lease for the last full third (3rd) month prior to the date of such month-to-month tenancy; and (iii) to one hundred fifty percent (150%) of the Final Month's Base Rent for the fourth (4th) month of such month-to-month tenancy and for any month of such month-to-month tenancy thereafter. Such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein. 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 the Lease upon the expiration or terminationother 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 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 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, including lost profits, resulting from such failure to surrender.
Appears in 1 contract
Holding Over. If Tenant remains in retains possession of the Premises ------------ after the expiration or earlier termination of this Lease with the express written consent Term or Tenant’s right to possession of Landlord (which consent may be withheld in Landlord's sole discretion)the Premises, Tenant's occupancy Tenant shall be a month-to-month tenancy at a rent equal to the greater of pay (i) for Base Rent during the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, at one hundred fifty percent (150%), ) of the Monthly Base Rent in effect immediately preceding such holdover, 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; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall thereafter pay as Monthly Base Rent during the holdover period in an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Base Rent in effect immediately preceding such holdover, plus (ii) Additional Rent and Additional Rent all other amounts otherwise payable under this the Lease (including, without limitation, Excess Expenses) computed on a per diem basis for each day that Tenant remains in possession and Tenant shall perform all of its other obligations under the last full month prior to Lease. Tenant shall also pay, indemnify and defend Landlord from and against all claims and damages, consequential as well as direct, sustained by reason of Tenant’s holding over, provided, however, that so long as Tenant pays the holdover rent described herein above, and the holdover terminates and Tenant vacates the Premises in the condition required by the Lease on or before the date which is the earlier of such sixty (60) days following the expiration of the Term or terminationthe 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 or right of tenancy between Landlord and Tenant.
Appears in 1 contract
Samples: Office Lease (Houghton Mifflin Co)
Holding Over. If Tenant remains in possession continues to occupy the Premises following the expiration of the Premises ------------ Term, then such holdover occupancy shall be deemed a tenancy from month-to-month which Landlord or Tenant may terminate at any time upon thirty (30) days written notice to the other. Notwithstanding the foregoing, if Tenant has given Landlord at least six (6) months prior written notice of its intent to holdover, Tenant shall be permitted to hold over for one period of up to six (6) months after the expiration of the Term (as designated by Tenant in such notice), and the Base Rent payable for such six-month period (or earlier termination of this Lease with the express written consent of Landlord (which consent such shorter time as may be withheld designated in Tenant’s notice) shall be the same Base Rent payable by Tenant as of the final day of the Term, increased by 1.95%. If Tenant continues to holdover for more than six (6) months, then (a) Tenant shall pay to Landlord monthly Base Rent equal to one hundred fifty percent (150%) of the Base Rent due during the last month of the Term, (b) if such holdover continues for an additional thirty (30) days following Landlord's sole discretion)’s written notice to Tenant that a new lease has been executed for any portion of the Premises, Tenant's then Tenant shall be responsible for, and shall indemnify Landlord from and against, all damages suffered by Landlord as the result of such holdover occupancy including all damages caused by Landlord’s inability to sell or Lease the Premises due to such holdover occupancy, and (c) such holdover 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 as provided above. Any such holdover period, one hundred twenty-five percent (125%), and for each day occupancy shall otherwise remain subject to all of the holdover period thereafterconditions, one hundred fifty percent (150%), of the Monthly Rent provisions 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; provided, 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 in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions obligations 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration or earlier termination of this the Lease Term with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy 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 rent equal to the greater monthly rate 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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Base Rent and Additional Rent payable under this Lease applicable during the last full month prior to the date rental period of the expiration of Lease Term under this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyLease. Except as provided in the preceding sentence, the Such month-to-month tenancy shall be on the terms subject to every other applicable term, covenant 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 agreement 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 Leaseherein. If Tenant remains 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 after 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 Lease (calculated on a per diem basis). Notwithstanding the foregoing, Tenant shall have the one-time right, upon notice (the "Holdover Notice") to Landlord not less than six (6) months prior to the expiration or earlier termination of this the Lease without Landlord's consent as required aboveTerm, Tenant's continued possession to extend the Lease Term for a period of up to three (3) months (which period shall be on set forth in the basis of a tenancy at sufferance and Holdover Notice) (the "Permitted Holdover Term"), in which case the Base Rent payable by Tenant during such Permitted Holdover Term shall pay as Monthly Rent during the holdover period an amount equal to the greater of (ia) one hundred twenty-five percent (125%) of the fair market Base Rent applicable during the last rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) period of the Monthly Rent and Additional Rent payable Lease Term under this Lease for the first month of any such Permitted Holdover Term, and (b) one hundred fifty percent (150%) of the Base Rent applicable during the last full month prior 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 date 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 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 terminationafter expiration of the Lease Term, shall be considered an action to enforce the terms of this Lease for purposes of the awarding of any attorney’s fees in connection therewith.
Appears in 1 contract
Samples: Office Lease (DermTech, Inc.)
Holding Over. Provided that Tenant gives Landlord written notice of its intention to hold over and gives such notice at least thirty (30) days prior to the expiration of this Lease and provided further that Tenant continues to pay Rent and fulfill all of its obligations under this Lease, and Landlord consents in writing to such holding over, the same shall be a month-to- month tenancy. If Tenant remains shall remain in possession of the Premises ------------ or any part thereof after expiration of the expiration or earlier termination Term with Xxxxxxxx's consent, Xxxxxx agrees to pay to Landlord for each month of this Lease with the express written consent such retention, a Monthly Base Rent 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200105%) of the Monthly Base Rent and Additional Rent payable required to be paid by Tenant under this Lease for the last full month period prior to the date of such expiration expiration. In addition, Tenant shall continue to pay all other forms of Rent, including, without limitation, Additional Rent. In such event, and in addition to the payment of the foregoing increased Monthly Base Rental, Xxxxxx agrees to indemnify, defend and hold Landlord harmless against all losses, costs, claims, liabilities and expenses (including without limitation attorneys' fees and expenses) sustained by Landlord by reason of such continuing tenancy (including, without limitation, claims for damages by any other person to whom Landlord may have leased or termination.have proposed to lease or sold or have proposed to sell all or any part of the Premises). This provision is in addition to, and does not affect or waive, Landlord's right of reentry or any other right or remedy available to Landlord on account of conflicts of such holding over. Any holding over by Tenant without Xxxxxxxx's written consent: (i) shall increase the Monthly Base Rent Tenant is required to pay to one hundred thirty-five percent (135%) of the Monthly Base Rent Tenant paid for the last full month period prior to the date of such expiration; and (ii) shall entitle Landlord to recover possession of the Premises and exercise any and all rights provided Landlord by this Lease and by applicable Laws and Orders.
Appears in 1 contract
Samples: Absolute Triple Net Lease
Holding Over. 60.01 If Tenant remains tenant holds over in possession of the Premises ------------ after the expiration or earlier sooner 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 or of any extended term of this Lease. If Tenant remains in possession lease, such holding over shall not be deemed to extend the term or renew the lease, but such holding over thereafter shall continue upon the covenants and conditions herein set forth except that the charge for use and occupancy of such holding over for each calendar month or part thereof (even if such part shall be a small fraction of a calendar month) shall be the sum of:
(a) 1/12 of the highest annual rent rate set forth on page one of this lease, times 1.5, plus
(b) 1/12 of the net increase, if any, in annual fixed rental due solely to increases in the cost of the value of electric service furnished to the premises in effect on the last day of the term of the lease, plus
(c) 1/12 of all other items of annual additional rental, which annual additional rental would have been payable pursuant to this lease had this lease not expired, plus
(d) those other items of additional rent (not annual additional rent) which would have been payable monthly pursuant to this lease, had this lease not expired, which total sum tenant agrees to pay to landlord promptly upon demand, in full, without set-off or deduction. Neither the billing nor the collection of any money for use and occupancy in the above amount shall be deemed a waiver of any right of Landlord to collect damages for Tenant's failure to vacate the Demised Premises after the expiration or earlier sooner termination of this Lease without Landlord's consent as required above, Tenant's continued possession lease. The aforesaid provisions of this Article shall be on survive the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationsooner termination of this lease.
Appears in 1 contract
Samples: Office Lease (Emerging Vision Inc)
Holding Over. If Tenant remains in possession of possesses the Premises ------------ after the expiration Term expires (or earlier termination after this Lease 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 with applicable to a month-to-month tenancy, except that: (a) for the express written consent first 3 months of Landlord the hold-over period herein, Tenant shall entitled to remain under the same terms and conditions as provided in the Lease, except that Rent for each month during such 3 month period shall be equal to 125% of the Rent for the month immediately preceding the commencement of the 3 month period herein granted; and (which consent may be withheld b) for each month of the holdover period herein (and, in Landlord's sole discretionthe case of the one-time 3 month holdover provided in this Section, then for each month following that 3 month period), Tenant's occupancy shall the monthly Rent payment will be a equal to 150% of the monthly Rent payable for the month immediately preceding the commencement of the applicable holdover period, and either Landlord or Tenant may terminate the month-to-month tenancy at a rent equal any time upon 30 days prior written notice to the greater of other party. If Tenant possesses the Premises after the Term expires (ior is otherwise terminated) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), without executing a new lease and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by without Landlord) for the Premises; provided, however, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy’s written consent, then Tenant is deemed to be occupying the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the Premises without claim of right (but subject to all terms and conditions of this Lease) and, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining in addition to additional space in the Building contained in this Lease shall be deemed Tenant’s liability for failing 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 surrender possession of the Premises after the expiration or earlier termination of this Lease without Landlord's consent as required aboveprovided in Section 16.1, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during to Landlord a charge for each day of occupancy after expiration of the holdover period Term in an amount equal to the greater 150% of Tenant’s then-existing Rent (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationon a daily basis).
Appears in 1 contract
Samples: Lease Agreement (Xata Corp /Mn/)
Holding Over. If Tenant remains in or Tenant’s Visitors holds over possession of the Premises ------------ after beyond the expiration or earlier termination of this Lease, such holding over will not be deemed to extend the Term or renew this Lease with but such holding over will continue upon the express written consent terms, covenants and conditions of Landlord (which consent may be withheld in Landlord's sole discretion), this Lease except that the charge for use and occupancy of the Premises for each calendar month or portion thereof that Tenant or Tenant's occupancy shall ’s Visitors holds over will be a month-to-month tenancy at a rent liquidated sum equal to one-twelfth (1/12th) of the greater Applicable Holdover Percentage of the Basic Rent and Additional Rent during the twelve (12) month period preceding the expiration or earlier termination of this Lease. The “Applicable Holdover Percentage” means (i) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Basic 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; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125100%) of the fair market rental (as reasonably determined by Landlord) Additional Rent for the Premises or first ninety (90) days following the Termination Date, and (ii) two hundred percent (200%) of both the Monthly Basic Rent and Additional Rent payable for all periods from and after the ninetieth (90th) day after the Termination Date. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant or any assignee, subtenant or licensee of Tenant to timely surrender possession of the Premises will exceed the amount of the monthly Basic Rent and Additional Rent and will be impossible to accurately measure. Without limiting Landlord’s other remedies under this Lease, if the Premises are not surrendered within sixty (60) days after the Termination Date, Tenant shall indemnify, defend and hold harmless Landlord against any and all losses and liabilities resulting therefrom, including, without limitation, any claims founded upon such delay made by any succeeding tenant, provided that Landlord has notified Tenant that Landlord has executed a lease for all or any portion of the Premises. Nothing contained in this Lease for the last full month prior will be construed as a consent by Landlord to the date occupancy or possession of such the Premises beyond the expiration or terminationearlier termination of this Lease. Tenant shall, at its sole cost and expense, take all actions required to remove any assignee, subtenant or licensee of Tenant, or other party claiming rights to the Premises under or through Tenant upon the expiration or earlier termination of the Term. The provisions of this Article 24 will survive the expiration or earlier termination of this Lease.
Appears in 1 contract
Holding Over. If Tenant remains in This Lease is for a specific Term. Except as set forth below, if Tenant, without Landlord’s specific written consent, continues its possession of the Leased Premises ------------ after the expiration or earlier termination date of this Lease with Lease, then all of 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 following conditions will apply: (i) for Tenant will occupy the first thirty (30) days Leased Premises as a month to month tenant on the terms of any such holdover periodthis Lease, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, except that its occupancy will be at one hundred fifty percent (150%), ) of the Monthly Rent and Additional monthly Basic Annual Rent payable under this Lease during the last full month year of the Term and one hundred percent (100%) of the monthly Additional Rent as determined hereunder and will be subject to termination on thirty (30) calendar days’ prior written notice from either party to the other; and (ii) in the event such holdover by Tenant continues for a period of sixty (60) days following Tenant’s receipt of written notice that Landlord has executed a term sheet for the lease of the Leased Premises (or any portion thereof) by a new tenant, Tenant will defend, indemnify and hold Landlord harmless from and against any and all claims, demands, actions, suits, proceedings, judgments, damages, losses, costs or expenses (including reasonable attorneys’ fees) incurred by Landlord in connection with claims or litigation (e.g., due to a delayed commencement date for a new tenant) arising because of such holdover by Tenant. The foregoing notwithstanding, Tenant shall have the right to extend the Term for up to an additional six (6) months (as specified in Tenant’s written notice) by giving written notice to Landlord prior to the later of the date of twelve (12) months prior to the expiration of this Lease the Term or (ii) the then fair market rental (as reasonably determined by Landlord) for date Landlord has provided Tenant with notice that Landlord has leased the Premises; provided, however, if Landlord and Tenant agree in writing that Leased Premises or any part thereof to a different monthly rent shall apply during such monthsubstitute tenant. Such short-to-month tenancy, then the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy term extension shall be on all of the terms and conditions of this Lease; provided that, except that any renewal optionsrather than the holdover Rent as set forth above, 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 Basic Annual Rent shall be deemed escalated for such period 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125105%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly immediately prior Basic Annual Rent and shall be paid, together with Additional Rent payable under this Lease Rent, for the last full month prior to the date each month, or part thereof, of such expiration or terminationholdover period. Tenant hereby waives any and all notices to quit under the Pennsylvania Landlord and Tenant Act.
Appears in 1 contract
Samples: Build to Suit Lease Agreement (Endo Pharmaceuticals Holdings Inc)
Holding Over. If (a) Tenant remains must obtain the prior consent of Landlord in order to remain 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 Leaseend. If Tenant remains in possession of the Premises after Lease end without obtaining the expiration or earlier termination prior consent of Landlord:
(i) such holdover shall not be deemed to be a renewal of this Lease without Landlord's consent as required above, Tenant's continued possession but shall be deemed to create a month-to-month term which may be terminated by either party on twenty (20) days’ written notice to the basis other party. In the event that any such holdover exists, all of a tenancy at sufferance the terms and provisions of this Lease shall be applicable during such holdover period, except that Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental 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 determined be requested by Landlord) 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.
(iib) two 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 twenty-five percent (200125%) of the Monthly last Rent and Additional Rent payable by Tenant to Landlord each month of such occupancy thereafter, plus all other charges payable under this Lease for the last full month prior Lease.
(c) Notwithstanding anything contained in this Paragraph 17.2 to the contrary, on 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 or terminationof such thirty (30)-day period.
Appears in 1 contract
Samples: Lease Agreement
Holding Over. Tenant shall vacate the Premises on or before the Termination Date. If Tenant remains in retains possession of all or any part of the Premises ------------ after beyond 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)Termination Date, 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 possession shall be deemed to have terminated and shall be inapplicable thereto. against Landlord's acceptance of rent after will unless Landlord consents to such holding over with Landlord's written consent shall not result possession in any other tenancy or in a renewal of the original term of this Leasewriting. If Tenant remains in possession of all or any part of the Premises after the expiration or earlier termination of this Lease Termination Date without Landlord's consent written consent: (a) Tenant shall pay Landlord 1/15th of the Base Rent payable for the last month of the Lease Term for each day that Tenant holds possession of any part of the Premises after the Termination Date; (b) Tenant's occupancy of the Premises shall be solely as required abovea tenant at sufferance and no notice of termination shall be necessary in order to recover possession; (c) Tenant's use of the Premises otherwise shall be subject to all applicable terms and conditions of this Lease; and (d) in addition to such other remedies as may be available to Landlord at law or in equity, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, damages, losses, liabilities and costs arising from or related to Tenant's continued possession possession, including without limitation reasonable attorneys', brokers' and consultants' fees, costs and expenses. Notwithstanding anything set forth in this Article 2 to the contrary, Tenant shall have the one-time right to extend the Lease Term for a short-term hold-over period (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 hold-over period (the "HOLDOVER TERM") that Tenant elects (which Holdover Term shall be on not less than one month or more than six months). Tenant may not exercise the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.Holdover Option if there is a
Appears in 1 contract
Holding Over. If Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to Landlord the greater of (i) one hundred twenty-five fifty percent (125150%) of 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%) of the fair market rental (value of the Premises as reasonably determined by LandlordLandlord for each month or portion thereof that Tenant retains possession of the Premises, or any portion thereof, after the Termination Date (without reduction for any partial month that Tenant retains possession); provided, that for every thirty (30) for days such holdover continues past the Premises or Termination Date, the percentage in clauses (i) and (ii) above shall each be increased by twenty percent (20%) until the percentages reach two hundred percent (200%) after ninety (90) days of holdover. Tenant shall also pay all damages sustained by Landlord by reason of such retention of possession; provided, Tenant shall not be responsible for Landlord’s consequential damages unless such holdover continues for more than forty-five (45) days after the Termination Date or unless Landlord gives Tenant notice that Landlord will suffer consequential damages as a result of the Monthly Rent holdover and Additional Rent payable under this Lease for the last full month prior to the date holdover occurs or continues more than twenty (20) days after Tenant’s receipt of such expiration or terminationnotice. 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.
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Holding Over. If a Tenant remains in Party fails to vacate the 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 subject to 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 Expiration Date or earlier termination of this Lease with shall constitute an Event of Default under Section 19.5 herein, except that the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy notice and cure period shall be a month-to-month tenancy at a rent equal to the greater of (i) for the first thirty (30) days of any days. The Rent during such holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent shall be 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 PremisesLandlord 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 will vacate the Premises and deliver same to Landlord immediately upon Tenant's receipt of notice from Landlord to so vacate. No holding over by a Tenant Party (whether with or without the consent of Landlord), and no payments of money by Tenant to Landlord after the end of the Term, 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 agree in writing that a different monthly (other than the holdover rent shall apply accruing during such month-to-month tenancy, then holdover period paid in accordance with the monthly rent specified in such written agreement shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy shall be on the terms and conditions provisions 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 Section 17) 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 Landlord after the expiration Expiration Date or earlier termination of this Lease without Landlord's consent as required above, Tenant's continued possession shall constitute full payment of Rent under the terms of this Lease. Tenant shall be on liable for all damages resulting from a Tenant Party's unauthorized holding over beyond the basis of a tenancy at sufferance above-referenced thirty (30) day notice and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationcure period.
Appears in 1 contract
Samples: Commercial Lease Agreement (Crossroads Systems Inc)
Holding Over. If Tenant remains holds over in possession the Premises without the consent of Landlord after the Expiration Date, the parties herby agree that Tenant’s occupancy 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 term shall be under a month-to-month to month tenancy at a rent commencing on the first day after the expiration of the applicable term, which tenancy shall be upon all of the terms set forth in the Lease except that (a) Tenant shall pay for each month or portion thereof of the holdover period, an amount (to be prorated for partial months during the holdover period based on the actual number of days in such month) equal to (1) Fixed Rent for the greater of entire Premises in the following amounts: (ix) for the first thirty (30) days (or prorated portion thereof) of any such holdover periodholdover, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-twenty five percent (125%) of the fair market rental Fixed Rent for the entire Premises (as reasonably determined by Landlordy) for the next thirty (30) days (or prorated portion thereof), one hundred fifty percent ( 150%) of the Fixed Rent for the entire Premises and (z) for each month thereafter ( or (ii) portion thereof), two hundred percent (200%) of the Monthly Fixed Rent for the entire Premises, which in each case Tenant was obligated to pay for the month immediately preceding such Expiration Date, and (2) all Additional Rent payable under this Lease for the last full entire Premises which is attributable to each month prior of the holdover tenancy (to be prorated for partial months during the holdover period based on the actual number of days in such month) ; and (b) if Tenant holds over for more than sixty (60) days, Tenant shall be liable to Landlord for and indemnify Landlord against all actual and consequential damages, including without limitation (1) any payment or rent concession which Landlord shall 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 date New Tenant as a result of Tenant’s holding over for more than sixty (60) days or in order to induce such expiration or terminationNew Tenant not to terminate its lease by reason of the holding over by Tenant for more than sixty (60) days, (2) the loss of the benefit of the bargain if any New Tenant shall terminate its lease by reason of the holding over by Tenant for more than sixty (60) days and (3) any claim for damages by any New Tenant. No holding over by Tenant after the Term shall operate to extend the Term. The acceptance of any rent paid by Tenant pursuant to this Section 6.10 shall not preclude Landlord from commencing and prosecuting a holdover summary eviction proceeding.
Appears in 1 contract
Samples: Lease (Peloton Interactive, Inc.)
Holding Over. If Tenant remains in possession after expiration or ------------ termination of the Premises ------------ after the expiration Lease Term with or earlier termination without Landlord's written consent, Tenant shall become a tenant-at-sufferance, and there shall be no renewal of this Lease with by operation of law. During 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 period of any such holdover periodholding over, all provisions of this Lease shall be and remain in effect except that the monthly rental shall be determined as follows:
(a) if Tenant does not give affirmative written notice to Landlord at least twelve (12) months prior to the expiration of the then current Lease Term (the Holdover Term as hereinafter defined is not part of the Lease Term) that Tenant will not renew or extend the Lease Term, then the monthly rental shall be one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly amount of Rent and Additional Rent (including any adjustments as provided herein) payable under this Lease during for the last full calendar month of the Lease Term including renewals or extensions.
(b) if Tenant does give affirmative written notice to Landlord at least twelve (12) months prior to the date expiration of the then current Lease Term that Tenant will not renew or extend the Lease Term, then Tenant, by written notice to Landlord given no later than nine (9) months prior to the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) current Lease Term may elect to hold over beyond the expiration of the Lease Term for the Premises; provided, 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 period specified in such written agreement shall instead apply. Except as notice (the "Holdover Term"); provided in however that the preceding sentence, the month-to-month tenancy Holdover Term 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 Leasemore than six (6) months. If Tenant remains properly makes such election in possession accordance with the foregoing provisions of this subparagraph (b), then for months 1 through 3 of the Premises after Holdover Term, the expiration or earlier termination of this Lease without Landlord's consent as required above, Tenant's continued possession monthly rental shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five ten percent (125110%) of the fair market rental amount of Rent (including any adjustments as reasonably determined by Landlordprovided herein) payable for the Premises last full calendar month of the Lease Term including renewals or extensions and for months 4 through 6 of the Holdover Term, the monthly rental shall be one hundred fifteen percent (ii115%) of the amount of Rent (including any adjustments as provided herein) payable for the third month of the Holdover Term. After the expiration of the Holdover Term, monthly rental shall be two hundred percent (200%) of the Monthly amount of Rent and Additional Rent (including any adjustments as provided herein) payable under this Lease for the last full calendar month prior of the Lease Term including renewals and extensions. The inclusion of the preceding provisions of this Section 29 in this Lease shall not be construed as Landlord's consent for Tenant to the date of such expiration or terminationhold over except as expressly set forth in this Section 29.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Holding Over. If Tenant remains in retains possession of any portion of the Premises ------------ after the termination or expiration or earlier of the respective Lease Term relating to such portion of the Premises, then Tenant shall, at Landlord’s election become a tenant at sufferance (and not a tenant at will) for such portion of the Premises in which Tenant is holding over, such possession shall be subject to immediate termination by Landlord at any time, and all of the other terms and provisions of this Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy excluding any expansion or renewal option or other similar right or option) shall be a month-to-month tenancy at a rent equal applicable during such holdover period, except that Tenant shall pay Landlord from time to the greater of (i) time, upon demand, for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental Base Rent payable by Tenant immediately prior to such holding over, and thereafter an amount equal to one hundred fifty percent (150% ) of the Base Rent payable by Tenant immediately prior to such holding over, computed on a per diem basis for each month or part thereof during such holding over for such portion of the Premises in which Tenant is holding over; provided, however, the holdover rent shall be calculated in full floor increments only so that if Tenant is only holding over in a portion of a particular floor, then the holdover rent shall be calculated based on the square footage of the entire floor. All other payments (including payment of Additional Rent) shall continue under the terms of this Lease. In addition, Tenant shall also be liable to Landlord for all direct and consequential damages which Landlord may suffer by reason Tenant’s failure to timely surrender the Premises; provided, however, as reasonably determined by Landlord) a condition of Tenant’s obligations under this Paragraph 19(f), Landlord shall give Tenant written notice of the existence of a prospective successor tenant for the Premises or (ii) two hundred percent (200%) any portion thereof, or the existence of any other matter which might give rise to a claim by Landlord for consequential damages, and Landlord’s reasonable estimate of the Monthly Rent and Additional Rent payable under this Lease for amount of such claim (to the last full month extent such amount can reasonably be estimated by Landlord on the basis of information then available to Landlord) at least thirty (30) days prior to the date Landlord shall require Tenant’s surrender of the Premises, and Tenant shall not be responsible to Landlord for any consequential damages if Tenant shall surrender the Premises on or prior to one hundred twenty (120) days after the later of (i) delivery of such notice detailing the potential consequential damages (it being agreed, however, that Landlord does not need to identify the prospective tenant by name in its notice, and it being further agreed that such notice may be given prior to the scheduled expiration date of this Lease), or (ii) the expiration or terminationearlier termination of this Lease. 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 shall not be construed as consent for Tenant to retain possession of the Premises or any portion thereof.
Appears in 1 contract
Samples: Office Lease (Salesforce Com Inc)
Holding Over. If Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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. 25.1 If Tenant remains in possession of the Premises after the expiration of the Lease Term or earlier termination any extension or renewal hereof, such holding over shall not operate to extend or renew this Lease but shall be construed as a tenancy from month-to-month which may be terminated by Landlord upon three (3) days' prior written notice if Tenant is then in default of this Lease without Landlord's consent as required aboveLease, Tenant's continued possession or by either party upon at least thirty (30) days' prior written notice directed to the end of a calendar month. Such month-to-month tenancy by Tenant shall be on subject to all the basis terms and provisions of a tenancy at sufferance and Tenant shall pay as Monthly this Lease, except that the Minimum Rent payable during the holdover period an amount equal to the greater of (i) holding over shall be one hundred twenty-five percent (125%) of the fair market rental average monthly Minimum Rent payable by Tenant during the last twelve (as reasonably determined by Landlord12) months of the Lease Term or any extension or renewal thereof. Notwithstanding the foregoing, if Landlord notifies Tenant, in writing, that Landlord is in serious negotiations with another tenant for the Premises or (ii) two Premises, then commencing the first day of the month following the month in which such notice is delivered to Landlord, Minimum Rent for such holdover period shall be one hundred fifty percent (200150%) of the Monthly Rent and Additional average monthly Minimum Rent payable under this Lease for by Tenant during the last full month prior to twelve (12) months of the date of such expiration Lease Term or termination.any extension or renewal
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Holding Over. If the Tenant remains in possession of the Leased Premises ------------ after the expiration or earlier other termination of this Lease with the express written consent of Landlord (which consent may be withheld in the Landlord's sole discretion), the Tenant's occupancy shall be a month-to-month tenancy at a rent equal to agreed upon by the greater of (i) for Landlord and the first thirty (30) days of any such holdover periodTenant, one hundred twenty-five percent (125%), and for each day of but in no event less than the 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 or other termination of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyLease. 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. The Landlord's acceptance of rent Rent after such holding over with the Landlord's written consent shall not result in any other tenancy or in a renewal of the original term of this Leasehereof. If the Tenant remains in possession of the Leased Premises after the expiration or earlier of the termination of this Lease without the Landlord's consent as required abovewritten consent, the Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rental (as reasonably determined by Landlord) for the Leased Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or 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 Leased 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, 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 Lease shall continue and remain in full force and effect during any holdover period, and resulting month to month tenancy.
Appears in 1 contract
Samples: Lease (Integra Lifesciences Corp)
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration or earlier termination of this the Lease Term with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy 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 rent equal to the greater monthly rate of (iA) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day ) of the holdover Base Rent applicable during the last rental period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent payable Lease Term under this Lease for the first two (2) months immediately following the expiration or earlier termination of this Lease, and (B) two hundred percent (200%) of the Base Rent applicable during the last full month prior to the date rental period of the expiration of Lease Term under this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applythereafter. Except as provided in the preceding sentence, the Such month-to-month tenancy shall be on the terms subject to every other applicable term, covenant 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 agreement 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 Leaseherein. If Tenant remains 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 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 calculated at a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount daily rate equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market Base Rent applicable during the last rental (as reasonably determined by Landlord) period of the Lease Term under this Lease for the Premises first two (2) months immediately following the expiration or earlier termination of this Lease, and (ii) two hundred percent (200%) of the Monthly Base Rent and Additional Rent payable 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 last full month prior 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 date 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 terminationafter expiration of the Lease Term, shall be considered an action to enforce the terms of this Lease for purposes of the awarding of any attorney’s fees in connection therewith.
Appears in 1 contract
Samples: Office Lease (Retrophin, Inc.)
Holding Over. If Tenant remains in retains possession of any part of the Premises after the end of the Term or termination of Tenant’s right to possession of the Premises ------------ after (it being agreed that Tenant’s failure to timely remove Tenant’s Property or the expiration or earlier termination Required Removables from the Premises shall also be considered a retention of this Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretionPremises by Tenant), Tenant's occupancy then such retention of possession shall be considered a tenancy “at will” or “sufferance” (and not a month-to-month tenancy at a rent equal to the greater of (itenancy) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%)entire Premises, and for each day Tenant shall pay Rent during such holding over at a rate equal to 125% of the holdover period thereafter, one hundred fifty percent (150%), of the Monthly rate used to calculate gross monthly Rent and Additional Rent payable in effect under this Lease during immediately preceding such holding over for the last full month prior first 30 days of such holdover, and thereafter at a rate equal to 150% of the rate used to calculate gross monthly Rent in effect under this Lease immediately preceding such holding over, computed on a weekly basis for each week or partial week that Tenant remains in possession. In addition to the date payment of the expiration amounts provided above, if such holdover extends beyond sixty (60) days and Landlord is unable to timely deliver possession of any part of the Premises to a new tenant as a result of Tenant’s holdover then Tenant shall be liable to Landlord for all damages, including, without limitation, consequential damages that Landlord suffers from the holdover. The provisions of this Lease Section 18 do not waive Landlord’s right of re-entry or (ii) the then fair market rental (as reasonably determined right to regain possession by Landlord) for the Premises; provided, however, if Landlord and Tenant agree actions at Law or 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 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 equity or any other rights or options pertaining to additional space in the Building contained in this Lease hereunder, and any receipt of payment by Landlord shall not be deemed a consent by Landlord to have terminated Tenant’s remaining in possession or be construed as creating or renewing any lease or right of tenancy between Landlord and shall be inapplicable theretoTenant. 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 Notwithstanding anything herein to the contrary, pursuant to Section 91.001(c) of the original term of this Lease. If Texas Property Code, Landlord and Tenant remains in possession of the Premises specifically agree that no notice to terminate Tenant’s tenancy hereunder will be required from and after the expiration or earlier termination of the Term 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) under Section 91.001 or Section 24.005 of the fair market rental (as reasonably determined by Landlord) for Texas Property Code before Landlord files a forcible detainer suit on grounds that the Premises or (ii) two hundred percent (200%) tenant is holding over beyond the end of the Monthly Rent rental term or renewal period (if any) hereof; and Additional Rent payable under this Lease for any sublease hereunder shall not be approved unless it also contains a specific comparable waiver by the last full month prior to the date of such expiration or terminationsubtenant thereunder.
Appears in 1 contract
Holding Over. If The Tenant remains has no right to remain 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 end of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 LeaseTerm. If the Tenant remains in possession of the Premises after the expiration end of the Term with the written consent of the Landlord but without entering into a new lease or earlier termination other agreement then, notwithstanding any statutory provisions or legal presumption to the contrary, there shall be no tacit renewal of this Lease without Landlord's consent as required above, Tenant's continued possession or the Term and the Tenant shall be deemed to be occupying the Premises as a tenant from month-to-month (with either party having the right to terminate such month-to-month tenancy at any time on not less than thirty (30) days’ written Notice, whether or not the date of termination is at the end of a rental period) at a monthly Base Rent payable in advance on the basis first day of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount month equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (monthly amount of Base Rent payable during the last month of the Term and otherwise upon the same terms and covenants and conditions as reasonably determined by Landlord) in this Lease insofar as these are applicable to a monthly tenancy and, for greater certainty, including liability for all Additional Rent. If the Tenant remains in possession of the Premises after the end of the Term or any extension terms(s) without the written consent of the Landlord, Tenant shall be a tenant at sufferance. In such event, Tenant shall pay an amount (iion a per month basis without reduction for partial months during the holdover) two equal to one hundred twenty-five percent (200125%) of the Monthly Rent and Additional monthly amount of Base Rent payable under this Lease for during the last full month prior of the Term (the “Holdover Percentage”) and otherwise upon the same terms, covenants and conditions as in this Lease, including liability for all Additional Rent. If Tenant remains in possession of the Premises in excess of thirty (30) days after the end of the Term, then commencing on the thirty-first (31st) day of such holdover, then the Holdover Percentage shall be increased to one hundred fifty percent (150%). In addition to the date payment of the amounts provided above, if the Landlord is unable to deliver possession of the Premises to a new tenant, or to perform improvements for a new tenant, as a result of the Tenant’s holdover, the Tenant shall be liable to the Landlord for, and shall protect the Landlord from and indemnify and defend the Landlord against, all losses and damages, including any claims made by any succeeding tenant resulting from such expiration or terminationfailure to vacate, and any consequential damages that the Landlord suffers from the holdover.
Appears in 1 contract
Samples: Industrial Lease (CUI Global, Inc.)
Holding Over. If Tenant remains in possession of possesses the Premises ------------ after the expiration Term expires or earlier termination 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 with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be applicable to a month-to-month tenancy at a rent and any other reasonable conditions of Landlord’s consent, except that Basic Rent will 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 holdover period thereafter, one hundred fifty percent (150%), of the Monthly Tenant’s then current 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; provided, however, if and (b) either Landlord and or 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 in the preceding sentence, may terminate the month-to-month tenancy shall at any time upon thirty (30) days prior written notice to the other party. If Tenant possesses the Premises after the Term expires or is otherwise terminated without executing a new lease and without Landlord’s written consent, Tenant is deemed to be on occupying the Premises without claim of right (but subject to all terms and conditions of this Lease) and, except that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining in addition to additional space in the Building contained in this Lease shall be deemed Tenant’s liability for failing 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 surrender possession of the Premises as provided in Section 16.1, Tenant will pay Landlord Rent for each day of occupancy after expiration of the expiration or earlier termination Term equal to 150% of this Lease without Landlord's consent as required Tenant’s then-existing Rent (on a daily basis) (the “Holdover Rental Amount”); provided, notwithstanding the above, Tenant's continued possession shall be on in the basis event Tenant gives at least twelve (12) months prior written notice to Landlord of a tenancy at sufferance and its intent to hold over; Tenant shall continue to pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Basic Rent and Additional Rent payable in the amount then due under this the Lease and such Holdover Rental Amount shall not apply until the third (3rd) holdover month. Further, Tenant shall not be liable for consequential damages during the last full month initial two (2) months of holdover in the event Tenant provides such twelve (12) months prior to the date of such expiration or terminationwritten notice as set forth above.
Appears in 1 contract
Samples: Office Lease Agreement (Premiere Global Services, Inc.)
Holding Over. If 22.1 Tenant remains in possession 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 ------------ after or any portion thereof at the expiration or earlier termination of this the Lease with Term or upon Landlord’s re-entry following an Event of Default, then it will be conclusively presumed that the express written consent value to Tenant of remaining in possession, and the loss that will be suffered by Landlord (which consent may be withheld in Landlord's sole discretion)as a result thereof, Tenant's occupancy shall be a month-to-month tenancy at a far exceed the Base Rent and additional rent equal to that would have been payable had the greater of (i) for the first thirty (30) days of any Lease Term continued during such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however. Therefore, if Landlord and Tenant agree in writing that a different monthly rent shall apply during such month-to-month tenancy, then (or anyone claiming through or under Tenant) does not immediately surrender the monthly rent specified in such written agreement shall instead apply. 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 Premises 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 portion thereof upon the expiration or earlier termination of this the Lease without Term or upon Landlord's consent as required above’s re-entry following an Event of Default, Tenant's continued possession then the rent payable by Tenant hereunder shall be on increased to equal (1) for each of the basis first (1st) and second (2nd) months of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to such holdover, the greater of (i) one hundred twenty-five fifty percent (125150%) of the fair market rental (as reasonably determined by Landlord) rent for the Premises entire Premises, or (ii) the one hundred fifty percent (150%) of the then fully escalated Base Rent and additional rent, and (2) for each month of holdover thereafter, the greater of (x) two hundred percent (200%) of the Monthly fair market rent for the entire Premises, or (y) two hundred percent (200%) of the then fully escalated Base Rent and Additional Rent additional rent. Such rent shall be computed by Landlord and paid by Tenant on a monthly basis and shall be payable under this Lease for on the last full month prior to the date 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 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 terminationprior termination of the Lease Term. 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 nothing contained herein shall be construed to constitute Landlord’s consent to any holdover or to give Tenant any right with respect thereto. The provisions of this Section 22.1 expressly survive termination of the Lease or of Tenant’s right to possession.
Appears in 1 contract
Holding Over. If Tenant remains in retains possession of the Premises ------------ or any part thereof after the expiration termination of this Lease, whether by lapse of time or earlier otherwise, or after a termination of Tenant’s right of possession, then Landlord may, at Landlord’s sole election at any time after the termination of this Lease with or Tenant’s right of possession, serve written notice on Tenant that such holding over constitutes either: (i) the express written consent creation of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy upon each of the terms herein provided as may be applicable to such month-to-month tenancy, except that Tenant shall pay to Landlord Base Rent for each month or portion thereof in the amount set forth below, plus all Additional Rent coming due during such period, or (ii) the creation of a tenancy at sufferance upon each of the terms herein provided as may be applicable to such tenancy at sufferance, except that Tenant shall pay to Landlord a per diem rent equal to the greater per diem Base Rent set forth below, plus the per diem amount of all Additional Rent. If no written notice is served by Landlord, then a tenancy at sufferance with Rent as stated in (ii) above shall have been created. The provisions of this Section shall not operate as a waiver by Landlord of any right of re-entry herein provided. In addition to and not in limitation of all other remedies set forth in this Section, Tenant shall be liable for all damages (consequential as well as direct) sustained by Landlord on account of Tenant’s holding over. Base Rent payable during any holding over shall be as follows:
(i) for during the first thirty sixty (3060) days following the termination of any such holdover period, one hundred twenty-five percent (125%), and for each day this Lease or the termination of the holdover period thereafterTenant’s right of possession, one hundred fifty percent (150%), ) of the Monthly Base Rent and Additional Rent payable under this Lease during for the last full calendar month prior to immediately preceding the termination date of the expiration of this Lease or the termination of Tenant’s right of possession; and
(ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, however, if Landlord from 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 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 sixty-first (61st) day following the termination of this Lease without Landlord's consent as required aboveor the termination of Tenant’s right of possession, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Base Rent and Additional Rent payable under for the calendar month immediately preceding the termination date of this Lease for or the last full month prior to the date termination of such expiration or terminationTenant’s right of possession.
Appears in 1 contract
Samples: Lease (Coleman Cable, Inc.)
Holding Over. If Tenant (directly or through any successor-in-interest of Tenant) remains in possession of any or all 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)landlord, Tenant's occupancy such continued possession shall be construed to be a month-to-tenancy from month tenancy to month 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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Base Rent herein specified (and shall be increased in accordance with Paragraph 4(b) [Adjustments in Base Rent]), together with an amount estimated by Landlord for the monthly Additional Rent Charges 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; providedLease, 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 in the preceding sentence, the month-to-month tenancy shall otherwise 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 Leaseherein 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 earlier termination of this Lease without the consent of Landlord's consent as required above, Tenant's continued possession shall be on the basis of a tenancy at the sufferance and of Landlord. In such event, Tenant shall pay as continue to comply with or perform all the terms and obligations of Tenant under this Lease, except that the Monthly Base Rent during the holdover period an amount equal to the Tenant's holding over shall be greater of (i) one hundred twentythe then-five percent (125%) of the fair market rental rent for the Premises (as reasonably determined by Landlord) for the Premises or (ii) two one hundred fifty percent (200150%) of the Monthly Base Rent and Additional Rent Charges payable under this Lease for in the last full month prior to the date termination hereof (and shall be increased in accordance with Paragraph 4(b) [Adjustment in Base Rent]). In addition to Rent, Tenant shall pay Landlord for all damages proximately caused by reason of the Tenant's retention of possession. Landlord's acceptance of Rent after 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 any prospective tenant of all or any part of the Premises, and (ii) Landlord's damages as a result of such expiration prospective tenant rescinding or termination.refusing to
Appears in 1 contract
Samples: Sublease (Cosine Communications Inc)
Holding Over. If Tenant remains in retains possession of the Premises ------------ after the termination or expiration or earlier termination of this the Lease with Term, then Tenant shall, at Landlord’s election made within ten (10) business days of the express written consent commencement of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be such holdover become a month-to-month tenancy tenant (and Landlord’s failure to make any such election shall mean that Tenant is a tenant at a rent equal sufferance terminable at will by Landlord provided, however, the remainder of this Paragraph 19(f) shall apply), such possession shall be subject to termination by Landlord or Tenant with thirty (30) days written notice to the greater other, 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 Tenant shall pay Landlord from time to time, upon demand, as Base Rent (i) for the first thirty initial two (302) days months of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) Base Rent in effect on the termination date, computed on a monthly basis for the Premises each month or part thereof during such holding over, and (ii) after such initial two (2) month period an amount equal to one hundred fifty percent (200150%) of the Monthly Base Rent and in effect 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 payable 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 of the Lease Term, then Tenant shall be liable for all 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 Lease except as otherwise expressly provided, and this Paragraph shall not be construed as consent for Tenant to retain possession of the last full month prior to the date of such expiration or terminationPremises.
Appears in 1 contract
Samples: Office Lease (Honest Company, Inc.)
Holding Over. If If, with Landlord’s express written consent, Tenant remains in retains possession of the Premises ------------ after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to 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 with the express written consent of or such other amount as Landlord (which consent may be withheld indicate, in Landlord's ’s sole and absolute discretion), Tenant's occupancy shall be a month-to-month tenancy at a rent equal to but not more than 150% of the greater of (i) Base Rent due for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day last month of the holdover period thereafterTerm, 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; provided, 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 consent, and (iv) all other payments shall instead apply. Except as provided in the preceding sentence, the month-to-month tenancy shall be on continue under 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 the Term without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease without Landlord's consent as required aboveLease, Tenant's continued possession including the obligation to pay 100% of all Additional Rent due under this Lease, except that the monthly Base Rent shall be on equal to 150% of the basis Base Rent in effect during the last 30 days of a tenancy at sufferance the Term, and (B) Tenant shall pay as Monthly Rent during be responsible for all damages suffered by Landlord resulting Building 1 (AOTC) / Kymera Therapeutics, Inc. - Page 13 from or occasioned by Xxxxxx’s holding over, including consequential damages; provided that, unless Landlord gave written notice to Tenant at least 30 days before the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) expiration of the fair market rental (as reasonably determined by Landlord) for Term that a subsequent tenant would be leasing the Premises or (ii) two hundred percent (200%) any part thereof and that Landlord reasonably anticipates holding over, even for less than 30 days, is reasonably likely to impact Landlord’s delivery schedule to such new tenant, Tenant shall be responsible for consequential damages only once Xxxxxx’s holding over exceeds 30 days. No holding over by Xxxxxx, whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Monthly Premises. Acceptance by Landlord of Rent and Additional Rent payable under after the expiration of the Term or earlier termination of this Lease for the last full month prior to the date shall not result in a renewal or reinstatement of such expiration or terminationthis Lease.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration or earlier termination of this the Lease Term with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy 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 (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, (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 rent daily rate equal to the greater of (i) either (x) for the first thirty (30) days month of any such holdover periodholding over, one hundred twenty-five percent (125%)[…***…], and for each day (x) thereafter […***…] of the holdover Base Rent applicable during the last rental period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent payable Lease Term under this Lease during the last full month prior to the date of the expiration of this Lease (calculated on a per diem basis) or (ii) the then fair market rental rate for the Premises as of the commencement of such holdover period. Notwithstanding the foregoing, Tenant shall have the one-time right, upon written notice (the "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 […***…] (as reasonably determined so designated, the "Permitted Holdover Term"), in which case the Rent payable by LandlordTenant 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 Premisesfirst […***…] months of such Permitted Holdover Term, (ii) […***…] of the Rent 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, if 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 consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant agree to vacate and deliver possession of the Premises to Landlord as provided in writing 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 (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 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 different monthly rent shall apply during such month-to-month tenancy, then 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 (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 monthly rent specified in such written agreement shall instead applyPremises. Except as provided in Therefore, if Tenant fails to vacate and deliver the preceding sentence, Premises upon the month-to-month tenancy shall be on the terms and conditions termination or expiration of this Lease, except 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 ./ -/// -40- XXXXXX REALTY, L.P. [ACADIA Pharmaceuticals Inc.] failure to vacate and deliver, and 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 be liable for Holdover Damages attributable to any Permitted Holdover Term. Tenant agrees that any renewal options, expansion options, rights of first refusal, rights of first negotiation or any other rights or options pertaining proceedings necessary 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 recover possession of the Premises Premises, whether before or after expiration of the expiration or earlier termination Lease Term, shall be considered an action to enforce the terms 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 as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) for purposes of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) awarding of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or terminationany attorney's fees in connection therewith.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration Term expires or earlier termination 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 with applicable to a month-to-month tenancy, (b) Basic Rent during the express written consent holdover period will equal 125% of the greater of the Basic Rent payable by Tenant in the last year of the Term or Landlord’s then current basic rent for the Premises according to Landlord’s rental rate schedule for prospective tenants, (c) Tenant will also pay Tenant’s Share of Excess Property Expenses and all other Additional Rent applicable to such holdover period as described in this Lease, and (d) either Landlord (which consent or Tenant may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a terminate the month-to-month tenancy at a rent equal to the greater of (i) for the first any time upon thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 written notice to the date of the expiration of this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 Leaseparty. If Tenant remains in possession of the Premises after the expiration Term expires or earlier termination is otherwise terminated without executing a new lease and without Landlord’s prior written consent, then Tenant is deemed to be occupying the Premises without claim of right (but subject to all provisions, conditions and obligations of this Lease without Landlord's consent Lease) and, in addition to Tenant’s liability for failing to surrender possession of the Premises as required aboveprovided in Section 16.1 and all other rights and remedies of Landlord related to such holding over, Tenant's continued possession shall be on Tenant will pay Landlord a charge for each day of occupancy after the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period Term in an amount equal to the greater of (i) one hundred twenty-five percent (125%) 150% of the fair market rental (as reasonably determined Basic Rent payable by Landlord) for Tenant in the Premises or (ii) two hundred percent (200%) last year of the Monthly Rent Term (on a daily basis), plus Tenant’s Share of Excess Property Expenses and all other Additional Rent payable under applicable to such holdover period as described in this Lease for the last full month prior to the date of such expiration or terminationLease.
Appears in 1 contract
Samples: Office Lease Agreement (Fender Musical Instruments Corp)
Holding Over. If Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease provides Landlord with the express written consent of Landlord notice (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy "HOLDOVER NOTICE") at a rent equal to the greater of (i) for the first least thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day prior to expiration of the holdover period thereafterLease Term (or any applicable Extension Term) that Tenant will be holding over in the Premises, one hundred fifty percent Tenant shall have the right (150%)and, of the Monthly Rent and Additional Rent payable under this Lease during the last full month prior subject to the date of grace periods described below, the obligation) to hold over after the expiration of this the Lease or Term until the date (ii"HOLDOVER NOTICE DATE") the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyHoldover 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). Except as provided in the preceding sentenceAny holdover tenancy (including without limitation, the month-to-month any holdover tenancy pursuant to a Holdover Notice) shall be on the terms subject to every applicable term, covenant and conditions of this Leaseagreement contained herein, except that any renewal options, expansion options, rights the Base Rent payable by Tenant for the Premises (irrespective of first refusal, rights the amount of first negotiation or any other rights or options pertaining space Tenant continues to additional space occupy in the Building contained in this Lease Building) shall be deemed escalated 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 equal one hundred ten percent (110%) of the original term then current Base Rent and Direct Expenses payments for the entire Premises for the first ninety (90) days 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 such holdover occupancy and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of such amount during the fair market rental next succeeding ninety (as reasonably determined by Landlord90) for the Premises or days and from and after such one hundred eighty (ii180) two day period, Rent shall equal one hundred fifty percent (200150%) of such amount thereafter; provided, however, subject to the Monthly next sentence of this Article 16, such holdover Rent and Additional Rent payable 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 for Lease. If Tenant properly delivers the last full month 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 holdover until the date which is one hundred five (105) days after the expiration of the Lease Term or applicable Extension Term and Tenant's obligation to pay holdover Rent and Additional Rent shall be prorated on a per diem basis until the later of the forty-fifth (45th) 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 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 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 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) and liability resulting from such expiration failure, including, without limiting the generality of the foregoing, any claims made by 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 any lease or terminationsigned letter of intent for all or any portion of the Premises.
Appears in 1 contract
Samples: Office Lease (Peregrine Systems Inc)
Holding Over. If (a) In the event of any holding-over by Tenant remains in possession of the Premises ------------ after the expiration or earlier termination of this Lease with without the express written 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 during the holdover tenancy and except that Tenant shall:
(i) pay as Base Rent for each month of the holdover tenancy (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-month tenancy at a rent in addition to all Additional Rent including the Additional Rent payable under Article 4 and Tenant’s Electricity Payment) an amount equal to the Applicable Percentage of the greater of (ix) the fair market rental value of the Premises for such month (as reasonably determined by Landlord) and (y) the Base Rent which Tenant was obligated to pay for the month immediately preceding the end of the Term; and
(ii) if such holding over shall extend for more than one hundred eighty (180), be liable to Landlord for (x) any payment or rent concession which Landlord may be required to make or give to any tenant obtained by Landlord 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 or otherwise as a result of such holding-over by Tenant and (y) the loss of the benefit of the bargain if any New Tenant shall terminate its lease by reason of the holding-over by Tenant. “Applicable Percentage” means (A) 150% for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%)holdover, and for each day of the holdover period (B) 200% 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for the last full month prior to the date of such expiration or termination.
Appears in 1 contract
Samples: Lease (KCG Holdings, Inc.)
Holding Over. If Tenant remains in possession shall vacate the Premises upon the expiration of the Premises ------------ after the expiration Lease Term or earlier termination of this Lease with in the express written consent condition required under Section 6.06. If the Tenant holds over after expiration of Landlord (which consent may be withheld in Landlord's sole discretionthe Lease Term, Extension Term(s), 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required aboveLease, Tenant's continued possession shall be on the basis of a tenancy at sufferance and then Tenant shall pay as Monthly Rent during to Landlord monthly for the holdover period first month of such hold over in an amount equal to the greater of (i) Additional Rent and Shell Rent at a rate equal to one hundred twenty-five percent (125%) of the fair market rental (Shell Rent in effect as reasonably determined by Landlord) of the month immediately preceding such hold over for the Premises or first four (ii4) two 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 (200150%) of the Monthly Shell Rent in effect as of the month immediately preceding such hold over, and Additional Rent payable under 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 after the expiration of the Lease Term, Extension Term(s), or earlier termination of this Lease for in accordance with Applicable Laws. If Tenant does not vacate the last full 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, Tenant’s occupancy of the Premises shall be a “month prior to month” tenancy, subject to all of the date terms of this Lease, other than the payment of Base Rent, which shall be paid on a monthly basis as set forth above, and Landlord and Tenant shall 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 after such expiration or terminationearlier termination of this Lease shall not constitute a consent to a hold over hereunder or result in a renewal of the 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 Premises. For the avoidance of doubt, Tenant shall also be responsible to pay Additional Rent during the hold over period.
Appears in 1 contract
Holding Over. If Tenant remains in holds possession of any portion of the Premises ------------ after the expiration or earlier termination of the term of this Lease with respect to that portion of the express Premises without the written consent of Landlord, then absent express agreement of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such holding over shall be a month-to-month tenancy at a rent sufferance and not for any periodic or fixed term. Tenant shall pay monthly rental hereunder equal to one hundred fifty percent (150%) of the greater amount of (i) for 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 any such holdover period, one hundred twenty-five percent (125%), and for each day of the 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and which time Tenant shall pay as Monthly Rent during the holdover period an amount monthly rental equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly amount of Base Rent and Additional Rent payable under 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 for shall continue to apply, excluding any options or rights of Tenant to renew or extend this Lease or expand the last full Premises hereunder. Nothing herein shall be construed as a consent in advance by Landlord to 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 to Landlord when and as required hereunder. Any holding over with the written consent of Landlord shall, except as otherwise specified in such consent, thereafter constitute a lease from month prior to month but otherwise subject to all of the date terms and conditions of such expiration this Lease, excluding any options or terminationrights of Tenant to renew or extend this Lease or expand the Premises hereunder.
Appears in 1 contract
Holding Over. If Tenant 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 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 Upon the expiration of this Lease by the passage of time and the Tenant remaining in possession of the Premises:
(a) there will be no implied renewal or extension of this Lease;
(b) if the Landlord consents in writing to the Tenant remaining in possession, the Tenant will be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Premises as a monthly tenant, which monthly tenancy may be terminated by either party on 30 days written notice to the other, which 30 day period need not end on the last day of a calendar month;
(c) if the Landlord does not consent in writing to the Tenant remaining in possession, the Tenant will be deemed, notwithstanding any statutory provision or legal assumption to the contrary, to be occupying the Premises as a tenant at the will of the Landlord, which tenancy may be terminated at any time by the Landlord without the necessity of any notice to the Tenant; and
(d) the Tenant will occupy the Premises on the same terms and conditions as are contained in this Lease (including, without limitation, the obligation to pay Additional Rent), save and except that:
(i) the Term and the nature of the tenancy will be as set out in Section 8.16(b) or 8.16(c), as the case may be;
(ii) the then fair market rental Minimum Rent and Parking Rent payable by the Tenant will be paid monthly at a rate equal to:
(as reasonably determined A) if the Tenant is overholding pursuant to Section 8.16(b), 110% of the amount of monthly Minimum Rent and Parking Rent which it was responsible for paying during the last 12 months of the Term); or
(B) if the Tenant is overholding pursuant to Section 8.16(c), twice the amount of monthly Minimum Rent and Parking Rent which it was responsible for paying during the last 12 months of the Term. Unless the Landlord has otherwise agreed in writing, such Minimum Rent will be payable by Landlord) for the Premises; provided, however, if Tenant regardless of whether or not the Landlord and Tenant agree in writing that a different monthly rent shall apply during fails to request such month-to-month tenancy, then Minimum Rent and/or accepts the monthly rent specified in such written agreement shall instead apply. Except as provided in Minimum Rent which the preceding sentence, Tenant was paying during the month-to-month tenancy shall be on last 12 months of the terms and conditions Term; and
(e) the Tenant is not entitled to take the benefit of this Lease, except that any renewal options, expansion optionsrights to extend, rights of first refusal, rights of first negotiation options to purchase or any other rights or options pertaining personal to additional space in the Building Tenant and which may be contained in this Lease shall be deemed Lease. The Tenant is estopped and forever barred from claiming any right to have terminated occupy the Premises on terms other than as set out in this Section and shall be inapplicable thereto. Landlord's acceptance of rent after such holding over with Landlord's written consent shall not result the Landlord may plead this section in any other tenancy court proceedings. If the Tenant is overholding pursuant to Section 8.16(c), then the Tenant shall indemnify and save harmless the Landlord from all Claims suffered or in incurred by the Landlord as a renewal result of the original term Tenant remaining in possession of all or any part of the Premises following the expiry of the Term. Nothing in this Lease. If section is to be interpreted: (i) as permitting or giving the Tenant remains an option to stay in possession of the Premises after following the expiration or earlier termination expiry of this Lease without Landlord's consent as required above, Tenant's continued possession the Term and the Tenant shall be surrender the Premises to the Landlord on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) expiry of the fair market rental (as reasonably determined by Landlord) for the Premises Term; or (ii) two hundred percent (200%) of in any way as derogating from any duty that the Monthly Rent and Additional Rent payable under this Lease for the last full month prior Landlord may have at law to the date of such expiration or terminationmitigate its damages.
Appears in 1 contract
Holding Over. If Tenant remains in retains possession of the Premises ------------ Property or any part thereof after the expiration end of the Term or earlier termination of this Lease with Tenant's right to possession of the express written consent 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 retention of Landlord (which consent may be withheld in Landlord's sole discretionthe Property by Tenant), Tenant's occupancy then such retention of possession shall be considered a tenancy "at will" or "sufferance" (and not a month-to-month tenancy at a rent tenancy), and Tenant shall pay Rent for such holding over in an amount equal to the greater sum of (ia) for the first thirty (30) days of any such holdover period, one hundred twenty-five percent (125%), and for each day of the holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly 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; provided, 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 in the effect immediately 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 computed on a renewal monthly basis for each of the original term of this Lease. If first two (2) months or partial months that 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 as Monthly Rent during the holdover period an amount equal to the greater of possession; plus (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (iib) two hundred percent (200%) of the Monthly monthly Rent in effect immediately preceding such holding over computed on a monthly basis for each month or partial month that Tenant remains in possession after 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 Additional Rent payable under not otherwise, to have such retention of possession constitute an extension of this Lease for one (1) year at the last full month prior greater of (1) the fair market rent for the Property as reasonably determined by Landlord, or (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 the date regain possession by actions at Law or in equity or any other rights hereunder, and any receipt of such expiration payment by Landlord shall not be deemed a consent by Landlord to Tenant's remaining in possession or terminationbe construed as creating or renewing any lease or right of tenancy between Landlord and Tenant.
Appears in 1 contract
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration of the Lease Term or earlier termination of this Lease thereof, with or without the express written or implied consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy only, and shall not constitute a renewal hereof or an extension for any further term, and in such case Rent shall be payable at a rent monthly rate equal to the greater product 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 holdover period thereafter, one hundred fifty percent (150%), of the Monthly Rent and Additional Rent payable under this Lease applicable during the last full month prior to the date rental period of the expiration of Lease Term under this Lease or Lease, and (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount percentage equal to the greater of (i) one hundred twenty-five percent (125%) during the first (1st) sixty (60) days of such hold over, and one hundred fifty percent (150%) for the second (2nd) sixty (60) days of such hold over. Thereafter, Rent shall be payable at a monthly rate equal to the product of (A) 200% and (B) the greater of (x) the Rent applicable during the last rental period of the fair 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) for Tenant’s remaining in the Premises after the expiration or earlier termination of the Lease Term, 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) two hundred percent (200%) Tenant’s failure to remove items and restore the Premises as required in Article 15, above. 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 Monthly Rent and Additional Rent payable under Premises to Landlord as provided in this Lease for upon the last full month prior to the date of such expiration or terminationother 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 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 lost profits to Landlord resulting therefrom. A termination or non-renewal of this Lease is not intended to be and shall not be deemed to be a breach of the covenant of good faith and fair dealing.
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Holding Over. If Tenant remains in retains possession of the Leased 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 part thereof for three (3) months or options pertaining to additional space in less following the Building contained in this Lease Termination Date, Landlord 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 treat Tenant as 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 tenant at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount Landlord monthly rent equal to the greater of (i) one hundred and twenty-five percent (125%) of the fair market rental rate of Monthly Base Rent and one hundred percent (as reasonably determined by Landlord100%) of the Additional Rent for the Leased Premises in effect for the month immediately preceding said holding over, computed on a per month basis, for each month or part thereof (without reduction for any such partial month) that Tenant thus remains in possession ("Initial Holdover Rent"). If Tenant retains possession of the Leased Premises or any part thereof for more than three (ii3) months after the Termination Date, by lapse of time or otherwise, Landlord may elect to treat Tenant as a tenant at sufferance, and Tenant shall pay Landlord monthly rent, beginning on the first day of the fourth month following the Termination Date, at two hundred percent (200%) of the rate of both Monthly Base Rent and Additional Rent payable for the Leased Premises in effect for the month immediately preceding said holding over, computed on a per month basis, for each month or part thereof (without reduction for any such partial month) that Tenant thus remains in possession and in addition thereto Tenant shall pay Landlord all other amounts due to Landlord under this Lease for and all damages, consequential as well as direct, sustained by Landlord by reason of Tenant's retention of possession. The provisions of this Article 19 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord herein, at law, in equity or otherwise and shall survive the last full month prior to the date expiration of such expiration or terminationthis Lease.
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Holding Over. If Tenant 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 Term expires or earlier termination is otherwise terminated without executing a new lease, Tenant shall be deemed to be occupying the Premises as a tenant from month-to-month, subject to all provisions, conditions and obligations of this Lease without Landlord's consent as required aboveapplicable to a month-to-month tenancy, Tenant's continued possession shall be on the basis of a tenancy at sufferance and except that (a) Tenant shall pay as Monthly to Landlord Base Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined greater of Base Rent payable by Tenant in the last Lease Year of the Term or Landlord) ’s then current base 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 time upon thirty (30) days prior written notice to the other party. Notwithstanding anything to the contrary contained in this Section 16.2, Tenant shall have the option (the “Holdover Option”) to holdover in the Premises for a period of ninety (90) calendar days beyond the then scheduled expiration of the Term (such period, the “Permitted Holdover Period”), subject to the following conditions: (i) Tenant shall deliver written notice (the “Holdover Notice”) to Landlord of such election no later than ninety (90) days prior to the expiration of the then Term; (ii) two hundred percent (200%) of during the Monthly Rent and Additional Permitted Holdover Period, Tenant shall be required to pay Landlord the same Rent payable under this Lease for the last full calendar month prior of the Term; (ill) Tenant shall not have the right to exercise the Holdover Option (or remain in the Premises during the Permitted Holdover Period) if at the time of delivery of the Holdover Notice or any time between the date of delivery of the Holdover Notice and the end of the Holdover Period, Tenant is in default under the Lease beyond any applicable notice and grace period; and (iv) during the Permitted Holdover Period, all of the terms and conditions of this Lease shall apply to Tenant’s occupancy of the Premises. Should the Tenant remain in the Premises beyond such expiration ninety (90) day period Tenant shall be deemed a month-to-month tenant and the holdover rate to be paid provided herein shall apply. This holdover rental amount will be Landlord’s exclusive right and remedy against Tenant and will be deemed to cover all liabilities, obligation or terminationcharges which may be incurred by Landlord because of a holdover by Tenant. In the event Tenant holds over following the Permitted Holdover Period, Tenant shall be liable for all of Landlord’s direct and consequential damages, including costs, fees, expenses, damages and attorneys’ fees incurred by Landlord as a result of Tenant’s holding over, including but not limited to, damages and expenses incurred by Landlord for its inability to deliver possession of the Premises to a new tenant (“Holdover Indemnity Obligations”).
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Holding Over. If Tenant remains in possession of all or any part of the Premises ------------ after the expiration or earlier termination of this Lease the Term with the express written or implied consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy shall be a month-to-to- month tenancy at a rent Monthly Base 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 holdover period thereafter, one hundred fifty percent (150%), ) of the Monthly Rent and Additional Base 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; provided, 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 applyTerm. Except as provided in the preceding sentence, the The month-to-month tenancy shall be 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 Xxxxxxxxx 0, (xx) expansion rights given to Tenant under this Lease, except that any renewal optionsif any, expansion optionsand (iii) extension rights given to Tenant under this Lease, 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 theretoif any. 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 all or any part of the Premises after the expiration or earlier termination of this Lease the Term without Landlord's consent as required aboveconsent, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Base Rent during the holdover period an amount equal to the greater of (ix) one hundred twenty-five fifty percent (125150%) of the fair market rental (as reasonably determined by Landlord) for the Premises Premises, or (iiy) two hundred percent (200%) of the Monthly Rent and Additional Base Rent payable under this Lease for the last full month prior to before the date of such expiration or terminationearlier termination of the Term. In addition, during such holdover period Tenant shall pay to Landlord all other sums required to be paid by Tenant to Landlord under this Lease, including, without limitation, Operating Expenses. If Tenant remains in possession 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. Nothing in this Subparagraph 11(b) shall be construed as implied consent by Landlord to any holding over by Tenant. Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease on the expiration or earlier termination of the Term of this Lease. The provision of this Subparagraph 11(b) shall not be considered to limit or constitute a waiver of any other rights or remedies of Landlord provided in this Lease or at law.
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Samples: Lease Agreement (Softlink Inc)
Holding Over. If In the event that Tenant remains in possession of shall not immediately surrender the Premises ------------ after to Landlord on the expiration Expiration Date 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 Tenant shall be deemed to have terminated be a tenant-at-will upon all of the terms and provisions of this Lease at 175% of Tenant's then current Rent, except the monthly Basic Rent shall be inapplicable thereto. Landlordpaid in accordance with the following schedule, provided Tenant gives Landlord nine (9) months prior written notice of Tenant's acceptance of rent after such holding over with Landlord's written consent shall not result in any other tenancy or in a renewal desire to Holdover and the duration of the original term Holdover Term: (i) Months one (1) through three (3): 125% of this Lease. If Tenant remains in possession Tenant's then current rental; (ii) Months four (4) through six (6): 150% of Tenant's then current rental; (iii) thereafter at 175% of Tenant's then current rental of the Premises monthly Basic and Additional Rent in effect during the last month of the Term. Notwithstanding the foregoing, if Tenant shall hold over after the expiration Expiration Date or earlier termination of this Lease Lease, and Landlord shall desire to regain possession of the Premises, then Landlord may forthwith re-enter and take possession of the Premises without Landlord's consent as required process, or by any legal process in force in the Commonwealth of Virginia. Tenant shall indemnify Landlord against all liabilities and damages sustained by Landlord by reason of such retention of possession. Notwithstanding the above, Tenant's continued possession shall there will be no consequential damages if Tenant abides by the mutual agreement on the basis Holdover Term. Tenant will not be considered in Holdover if Tenant and Landlord are negotiating to renew the Term of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market rental (as reasonably determined by Landlord) for the Premises or (ii) two hundred percent (200%) of the Monthly Rent and Additional Rent payable under this Lease for and the last full month prior to the date of such expiration or terminationextension is ultimately executed.
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Samples: Deed of Lease (Careerbuilder Inc)
Holding Over. If Tenant remains in possession of the Premises ------------ holds over after the expiration or earlier termination of this the Lease Term, with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretion), Tenant's occupancy such tenancy shall be a from month-to-month tenancy 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 rent equal to the greater monthly rate of (i) for the first thirty (30) days of any such holdover period, one hundred twenty-five ten percent (125110%), and for each day ) of the holdover period thereafter, one hundred fifty percent (150%), of the Monthly Base Rent and Additional Rent payable under this Lease applicable during the last full month prior to the date rental period of the expiration of Lease Term under this Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 applyLease. Except as provided in the preceding sentence, the Such month-to-month tenancy shall be on the terms subject to every other applicable term, covenant 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 agreement 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 Leaseherein. If Tenant remains 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 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 calculated at a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount daily rate equal to the greater of (i) one hundred twenty-five percent (125%) of the fair market Base Rent applicable during the last rental period of the Lease Term under this Lease (as reasonably determined by Landlordcalculated on a per diem basis) for the Premises or first six (ii6) two months of such holdover and one hundred fifty percent (200150%) of the Monthly Base Rent applicable during the last Lease Month of the Lease Term (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 Additional Rent payable under 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 within sixty (60) days following the termination or expiration of this Lease, and Landlord has not consented in writing to such holdover, 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 and damages, 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, shall be considered an action to enforce the terms of this Lease for purposes of the last full month prior to the date awarding of such expiration or terminationany attorney’s fees in connection therewith.
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Samples: Office Lease (F5 Networks Inc)
Holding Over. If Tenant remains may remain in possession of the Premises ------------ after for a specified time period (up to one hundred eighty (180) days) following the Term expiration (the “Operational 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, or earlier in the event of any other holdover (including following an early termination of this Lease with the express written consent of Landlord (which consent may be withheld in Landlord's sole discretionby Tenant), Tenant's occupancy shall such possession will be a month-to-month tenancy at a rent equal to the greater rate 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 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 Lease or (ii) the then fair market rental (as reasonably determined by Landlord) for the Premises; provided, 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 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 as required above, Tenant's continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as Monthly Rent during the holdover period an amount equal to the greater of (i) one hundred twenty-twenty- five percent (125%) of Ground Rent at the fair market rental time of the 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 (as reasonably determined by Landlord30) for days’ notice to the other party at any time. During any holdover possession, all of the other terms of this Lease (excluding any expansion or similar option or right) will be applicable and all other payments will continue. Subject to Section 33, if (a) Tenant has not vacated the Premises 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 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) two hundred percent the expiration of any Operational Extension; or (200%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 Monthly Rent holdover from an executed lease, and Additional Rent payable under 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 Xxxxxx, whether with or without consent of Landlord, will operate to extend this Lease for the last full month prior to the date of such expiration or terminationexcept as otherwise expressly provided herein.
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Samples: Ground Lease Agreement