Common use of HOLDOVER TENANCY Clause in Contracts

HOLDOVER TENANCY. In the event the term of this Agreement is for one (1) year or longer and the Landlord does not give the Tenant at least sixty (60) days written notice prior to the expiration of the term, and the Tenant does not give at least 60 days written notice to the Landlord prior to the expiration of the term, of either’s intention to terminate this Agreement upon the end of the term, then the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to the expiration of the term hereof. After receipt of such notice from the Landlord, should the Tenant fail to give notice to the Landlord at least 45 days prior to the last day of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted and agreed to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in possession of the Property after the expiration of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay to the Landlord a sum of double the monthly rental under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In addition, the holdover Tenant without Landlord approval shall be responsible for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdiction.

HOLDOVER TENANCY. In Unless agreed to otherwise by the event the term of this Agreement is for one (1) year or longer and the Landlord does not give parties in a writing signed by both parties, if the Tenant at least sixty (60) days written notice prior to holds possession of the Premises after the expiration of the termTerm (and, unless the Landlord has agreed in writing to permit the Tenant to remain in possession thereafter), Tenant shall become a Tenant from month-to-month under the provisions herein provided. During the first three (3) calendar months of any such month to month tenancy the Monthly Net Rent payable hereunder shall be equal to one hundred seventy-five percent (175%) of the Monthly Net Rent installment and the Tenant does not give at least 60 days written notice to Additional Rent (which includes all operating expenses, taxes, insurance and other costs of the Landlord Premises) payable immediately prior to the expiration of the term, of either’s intention to terminate this Agreement upon the end of the termTerm, then and thereafter the term Monthly Net Rent installment and the Additional Rent shall become month be equal to month and all other provisions two hundred percent (200%) of said amount, which amounts shall continue be payable in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin advance on the first day of each month or part thereof that the month following Tenant remains in occupancy and without the date of such notice. Should requirement for demand or notice by the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum demanding delivery of sixty (60) days written notice prior to the expiration possession of the term hereofPremises. After receipt All other terms and conditions of this Lease shall apply during any such notice month to month holdover tenancy. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) resulting from delay by Tenant in surrendering the Premises, including, without limitation, any claims, losses, damages, liabilities, costs and expenses incurred in connection with contractors and subcontractors hired to perform Landlord, should the Tenant fail to give notice to the Landlord at least 45 days prior to the last day ’s renovation of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement Building for its intended use. Nothing herein contained shall be deemed to have been accepted and agreed permit Tenant to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in retain possession of the Property Premises after the expiration Expiration Date or to limit in any manner Landlord’s right to regain possession of the Premises through summary proceeding or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay to the Landlord a sum of double the monthly rental under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In addition, the holdover Tenant without Landlord approval shall be responsible for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdictionArticle 24.

HOLDOVER TENANCY. In the event the term If (without execution of this Agreement is for one (1a new lease or written ---------------- extension) year or longer and the Landlord does not give the Tenant at least sixty (60) days written notice prior to shall holdover after the expiration of the termTerm, and then Tenant shall, subject to Landlord's written consent but without execution of a new lease, become a tenant at sufferance at a monthly rental equal to twice the Tenant does not give at least 60 days written notice to Rent due under the Landlord prior to terms of this Lease, commencing said tenancy with the expiration of the term, of either’s intention to terminate this Agreement upon first day next after the end of the termTerm. Tenant, then as a tenant at sufferance, shall be subject to all of the term conditions and covenants of this Lease as though the tenancy had originally been a monthly tenancy. During the holdover period, each party hereto shall become month give to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty at least 30 days' written notice to quit the Leased Premises, except in the event of nonpayment of Rent when due, or the breach of any other covenant or default hereunder by Tenant (60) days without giving effect to any notice or right to cure period), in accordance with the Delaware Landlord which event Tenant Code. Said sixty (60) days shall begin on the first day of the month following the date of such notice. Should the Landlord intend not be entitled to renew this Agreement subject any notice to amended or modified provisionsquit, the usual 30 days' notice to quit being expressly waived. The foregoing shall not constitute Landlord's consent to any holdover by Tenant. Notwithstanding the foregoing, if Landlord shall give the Tenant a minimum of sixty (60) days written notice prior desire to the expiration of the term hereof. After receipt of such notice from the Landlord, should the Tenant fail to give notice to the Landlord at least 45 days prior to the last day of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted and agreed to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in regain possession of the Property after Leased Premises by any legal action or process in force in the expiration jurisdiction in which the Land is located, and Landlord shall have the right to recover all direct or indirect costs, expenses, legal expenses, attorneys' fees, damages, loss of this Agreement without profits or any other costs incurred by Landlord as a result of Tenant's failure or inability to deliver possession of the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay Leased Premises to the Landlord a sum of double the monthly rental when required under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In addition, the holdover Tenant without Landlord approval shall be responsible for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdictionLease.

HOLDOVER TENANCY. In If Tenant shall hold over without written permission from Landlord after the expiration of the Term or Tenant should fail to return the Premises in the condition specified in Paragraph 28 below, at Landlord’s option: (a) Tenant shall be deemed to occupy the Premises as a tenant at sufferance, subject to immediate dispossession in accordance with law, at (i) for the first calendar month after the expiration of the Term, one hundred fifty percent (150%) of the Base Rent in effect during the last year of the Term, (ii) for the second calendar month after the expiration of the Term, one hundred seventy-five percent (175%) of the Base Rent in effect during the last year of the Term, and (iii) thereafter, two hundred percent (200%) of the Base Rent, and otherwise subject to all of the terms, covenants and conditions of this Lease; and (b) Landlord may exercise any other remedies it has under this Lease or at law or in equity including an action for wrongfully holding over. Landlord’s acceptance of the increased rent in accordance with this Paragraph 8 shall in no way limit or affect Landlord’s rights and remedies under this Lease, at law or equity. No extension or renewal of this Lease shall be deemed to have occurred by any holding over. Notwithstanding anything set forth in this Paragraph 8 to the contrary, in the event Tenant has not exercised its first extension option pursuant to Paragraph 49 hereof, Tenant shall have the term one-time right to extend the initial Lease Term for a period of this Agreement is for one up to three (13) year or longer and months thereafter (“Temporary Extension Term”) by delivering written notice of the Landlord does not give the Tenant exercise of such right at least sixty six (606) days written notice months prior to the expiration of the terminitial Lease Term which notice shall specify the period of the Temporary Extension Term Tenant shall select (which period shall be not less than one (1) month nor more than six (6) months), and provided that, at Landlord’s option, in addition to all remedies available to Landlord under this Lease, at law or in equity, Tenant is not in default under this Lease (after expiration of any applicable notice and cure period) as of the date Tenant does not give at least 60 days written delivers such notice to Landlord or the commencement of the Temporary Extension Term. If Tenant timely exercises such renewal right, all of the terms and conditions of this Lease shall apply during the Temporary Extension Term, provided, however, that the monthly Base Rent payable by Tenant during the Temporary Extension Term shall be equal to one hundred twenty-five percent (125%) of monthly Base Rent applicable during the last rental period of the initial Lease Term. Tenant shall defend, indemnify and hold Landlord prior harmless from and against all claims, losses and liabilities for damages resulting from failure to surrender possession upon the Expiration Date or sooner termination of the Term by any tenant to whom Landlord may have leased all or any part of the Premises and for all other losses, costs and expenses of any kind or nature, including reasonable attorney’s fees and costs, expert witness fees and costs and court costs incurred by Landlord as a result of such holdover, and such obligations shall survive the expiration of the term, of either’s intention to terminate this Agreement upon the end of the term, then the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to the expiration of the term hereof. After receipt of such notice from the Landlord, should the Tenant fail to give notice to the Landlord at least 45 days prior to the last day of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted and agreed to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in possession of the Property after the expiration sooner termination of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay to the Landlord a sum of double the monthly rental under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In addition, the holdover Tenant without Landlord approval shall be responsible for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdictionLease.

HOLDOVER TENANCY. In the event the term of this Agreement is for one (1) year or longer and the Landlord does not give the If Tenant at least sixty (60) days written notice prior to the expiration of the term, and the Tenant does not give at least 60 days written notice to the Landlord prior to the expiration of the term, of either’s intention to terminate this Agreement upon the end of the term, then the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to the expiration of the term hereof. After receipt of such notice from the Landlord, should the Tenant fail to give notice to the Landlord at least 45 days prior to the last day of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted and agreed to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in holds possession of the Property Premises after the expiration or termination of the Term of this Agreement Lease, by lapse of time or otherwise, with or without the express or implied consent of Landlord’s consent , Tenant shall become a tenant at sufferance upon all of the terms contained herein, except as to Term and after receiving proper notice from the LandlordBase Rent and any other provision reasonably determined by Landlord to be inapplicable. During such holdover period, Tenant shall pay to the Landlord a sum monthly Base Rent equivalent to one hundred fifty percent (150%) of double the monthly greater of (a) Base Rent and Additional Rent payable by Tenant to Landlord during the last month of the Term of this Lease, or (b) what a landlord under no compulsion to lease the Premises and a tenant under no compulsion to lease the Premises would determine as rents (including Base Rent and rental increases), taking into consideration the uses permitted under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In additionLease, the quality, size, design, and location of the Premises, and the rent for comparable class A office buildings located in the vicinity of the Building. The monthly rent payable for such holdover Tenant without 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 approval of any rent after any such expiration or earlier termination shall be responsible for deemed a consent to any further losses 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 Premises 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 Landlord harmless from and against any and all claims, demands, actions, proceedings, losses, damages, liabilities, obligations, penalties, costs and expenses, including, without limitation, all lost profits and other consequential damages, attorneys' fees, consultants' fees and court costs incurred or suffered by or asserted against Landlord by reason of Tenant's failure to surrender the Landlord as determined by a proceeding before any Court Premises on the expiration or earlier termination of competent jurisdictionthis Lease in accordance with the provisions of this Lease.

HOLDOVER TENANCY. If the Tenant intends to remain in possession of the Demised Premises beyond the termination of the Lease Term herein, the Tenant shall give written Notice to the Landlord to such effect at least ninety (90) days prior to the date on which Tenant is required to vacate the Demised Premises. For the time period which constitutes the holdover tenancy, the monthly Rent shall be 150% of the total monthly Rent payable during the last month of the Lease Term herein. Subsequent to the first ninety (90) days of the holdover period, the Rent shall be that which the Landlord shall determine from time to time or 150% whichever is greater. If the Tenant gives less than ninety (90) days Notice and if the Tenant remains in the Demised Premises for more than seven (7) days past the expiration of the Lease Term herein, then the Tenant shall pay to Landlord at least three (3) months Rent as defined above, from the date on which the Tenant first notifies Landlord that it intends to remain on the Demised Premises as a holdover tenant, and whether or not Tenant actually remains in possession of the Demised Premises for the full three (3) months after the expiration of the Lease Term. In the event Tenant remains on the term Demised Premises after the expiration of this Agreement is for one (1) year or longer and the Lease Term without giving the Landlord does not give the Tenant at least sixty (60) days written notice any Notice prior to the expiration date of the term, and the Tenant does not give at least 60 days written notice to the Landlord prior to the expiration of the term, of either’s intention to terminate this Agreement upon the end of the termLease, then in addition to Rent for the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day period of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisionsits holdover occupancy, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to the expiration of the term hereof. After receipt of such notice from the Landlord, should the Tenant fail to give notice to the Landlord at least 45 days prior to the last day of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted and agreed to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in possession of the Property after the expiration of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant it shall pay to the Landlord a sum equal to three (3) months Rent at the rate of double 150% of the monthly rental under this Agreement, computed and pro-rated on total Rent payable during the last month of the Lease Term. The acceptance of any Rent as set forth herein by Landlord shall not be deemed to prevent the Landlord from commencing a daily basis, for each day summary proceeding to remove the Tenant remains in possession for any period. In addition, the as a holdover Tenant without Landlord approval shall be responsible and collect the aforesaid Rent for any further losses incurred by the Landlord as determined by a proceeding before any Court use and occupancy of competent jurisdictionsaid Demised Premises.

HOLDOVER TENANCY. In If Tenant holds over after expiration of the event Lease term, such tenancy shall be from month-to-month only at Landlord's sole, exclusive and conclusive election, and not a renewal hereof or an extension of any further term, and in such case rent shall be payable at the term time specified in Paragraph 4.1 and in an amount to be determined by Landlord, but not less than 150% of all sums due and payable under this Agreement is Lease for one the last month of the Lease term, and such monthly rent may be increased upon thirty (130) year or longer and the days prior written notice to Tenant. However, if Landlord does not give the has previously notified Tenant at least sixty three (603) days written notice prior to the expiration of the term, and the Tenant does not give at least 60 days written notice to the Landlord prior to the expiration of the term, of either’s intention to terminate this Agreement upon the end of the term, then the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to the expiration of the term hereof. After receipt of such notice from the Landlordthis Lease that Landlord shall not permit Tenant to hold over, should the then if Tenant fail to give holds over Tenant shall be considered a trespasser and Landlord may immediately file suit for unlawful detainer without further notice to Tenant. If Landlord permits such holdover, then the Landlord month-to-month tenancy shall be subject to every other term, covenant, condition and agreement contained herein. Further, if the Premises is not surrendered at least 45 days prior to the last day end of the term hereof of their intention to terminate the existing AgreementLease term, the provisions of the amended or modified Agreement any renewal or extension thereof, Tenant shall be deemed responsible to have been accepted Landlord for all damage which Landlord shall suffer by reason thereof, and agreed to Tenant shall indemnify, hold harmless and defend Landlord from all claims made by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue a successor tenant resulting from Landlord's delay in delivering possession of the Property after the expiration of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay Premises to the Landlord a sum of double the monthly rental under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In addition, the holdover Tenant without Landlord approval shall be responsible for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdictionsuch successor tenant.

HOLDOVER TENANCY. In the event the term of this Agreement is for one (1) year or longer and the Landlord does not give the Tenant at least sixty (60) days written This Lease shall terminate without further notice prior to upon the expiration of the termLease Term. Upon the expiration or earlier termination of this Lease, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition as the Premises were upon delivery of possession to Tenant does by Landlord, reasonable wear and tear excepted. Should Tenant holdover in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at least 60 days written notice will, subject to all the terms and conditions of this Lease, except that Minimum Annual Rent shall be an amount equal to the Landlord prior to greater of: (a) one and one-half (1 1/2) times the sum of Minimum Annual Rent and percentage rent which was payable by Tenant for the twelve-month period immediately preceding the expiration or earlier termination of this Lease; or (b) the then currently-scheduled rent for comparable space in the building, as the same is reasonably determined in Landlord's sole business judgment. If Tenant shall hold the Premises after the expiration of the term, of either’s intention to terminate this Agreement upon the end of the term, then the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance Lease with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day consent of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to the expiration of the term hereof. After receipt of such notice from the Landlord, should either express or implied, such holding over, in the Tenant fail to give notice to the Landlord at least 45 days prior to the last day absence of the term hereof of their intention to terminate the existing Agreementwritten agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted created a tenancy from month-to-month terminable on thirty (30) days' written notice by either party to the other, upon a monthly-rent basis, and agreed otherwise subject to by the Tenants and all the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in possession of the Property after the expiration provisions of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay to the Landlord a sum of double the monthly rental under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any period. In addition, the holdover Tenant without Landlord approval shall be responsible for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdictionLease.

HOLDOVER TENANCY. Tenant acknowledges that if it fails to deliver possession of the Premises to Landlord upon the expiration or sooner termination of this Lease, Landlord shall incur substantial economic loss. In the event that Tenant shall hold the term of this Agreement is for one (1) year Premises, or longer and the Landlord does not give the Tenant at least sixty (60) days written notice prior to any part thereof, after the expiration of the termTerm without the prior written consent of the Landlord, such holding shall constitute and be construed as a tenancy at will only at a daily rental equal to 150% of the greater of (a) the daily Annual Base Rent payable during the last month of the Term, or (b) the daily rate for the then fair market rental rate of the Premises, plus 100% of the daily rate of Additional Rent and other sums due under this Lease during the last month of the Lease Term. In addition to such increased rental payment and any other liabilities to Landlord accruing therefrom, Tenant does not give at least 60 days written notice shall indemnify and hold Landlord harmless from loss or liability resulting from such failure, including, without limiting the generality of the foregoing, both direct and consequential liabilities and damages of Landlord arising from claims made by any succeeding tenant arising due to such failure if Tenant holds the Landlord prior to Premises, or any part thereof, after the expiration of the termTerm without the prior written consent of Landlord or holds the Premises, of either’s intention to terminate this Agreement upon the end of the termor any part thereof, then the term shall become month to month and all other provisions shall continue in full force and effect until either party shall terminate the same by giving the other party sixty (60) days notice in accordance with the Delaware Landlord Tenant Code. Said sixty (60) days shall begin on the first day of the month following the date of such notice. Should the Landlord intend to renew this Agreement subject to amended or modified provisions, the Landlord shall give the Tenant a minimum of sixty (60) days written notice prior to after the expiration of the term hereof. After receipt of such notice from the Term with Landlord's consent, should the Tenant fail and fails to give notice to the Landlord at least 45 days prior to the last day of the term hereof of their intention to terminate the existing Agreement, the provisions of the amended or modified Agreement shall be deemed to have been accepted and agreed to by the Tenants and the terms of the Agreement, as amended, shall take full force and effect. Should the Tenant continue in deliver possession of the Property after Premises in full to Landlord within thirty (30) days following Landlord's written notice to Tenant that Landlord requires the expiration of this Agreement without the Landlord’s consent and after receiving proper notice from the Landlord, Tenant shall pay to the Landlord Premises (or any portion thereof) for a sum of double the monthly rental under this Agreement, computed and pro-rated on a daily basis, for each day the Tenant remains in possession for any periodprospective tenant. In addition, the holdover Tenant without Landlord approval Nothing contained herein shall be responsible construed as Landlord's consent for any further losses incurred by the Landlord as determined by a proceeding before any Court of competent jurisdictionTenant's holdover.