Common use of HOLDOVER AND CONTINUED OCCUPANCY Clause in Contracts

HOLDOVER AND CONTINUED OCCUPANCY. (1) If the Borough has not directed the Sublessee to vacate the premises upon expiration of the Sublease, then if the Sublessee continues to occupy the premises in holdover after the expiration of the Sublease, the holdover ends on the earliest of the following, regardless of any rent accepted by the Borough: (a) the date on which the Borough and the Sublessee execute a term extension for the Sublease or a new Sublease for the premises; or (b) the date on which the Borough or the Sublessee terminates the holdover upon not less than 30 days' notice; or (c) the 180th day after the expiration of the Sublease. (2) If the Sublessee continues to occupy the Sublease Premises in Holdover under this Article, the Sublessee will continue to pay the Borough rent after the expiration, termination, or cancellation of this Sublease and to abide by the Sublease obligations, including providing any required proof of insurance coverage, through the date Sublessee relinquishes possession of and completely vacates the Sublease Premises. Borough will consider the Sublease Premises vacated if: (a) The Sublessee has remediated any environmental Contamination for which the Sublessee is responsible; and (b) The Sublessee has removed or otherwise disposed of any Sublessee-owned permanent or removable improvements and personal property; and (c) The Sublessee has restored the Sublease Premises to a neat and clean physical condition acceptable to Borough.