Port’s Option for Removal of Modifications; Surrender Sample Clauses

Port’s Option for Removal of Modifications; Surrender. By notice given at least six (6) months prior to the expiration of this Agreement or not later than thirty (30) days after any earlier termination of this Agreement, the Port, at its sole election and discretion, may elect to have Tenant: (i) remove the improvements or modifications to the Property at Tenant’s sole cost and expense or (ii) allow the same to remain on the Property. Different elections may be made as to various portions of the improvements or modifications on the Property. In the event that the Port elects for the removal of any or all of the improvements or modifications to the Property, Tenant shall diligently complete such removal within not more than sixty (60) days of the Port’s election or termination (including by expiration) of this Agreement. Tenant may conduct at the Premises an end of lease or like sale of such property, as well as a sale of any trade fixtures, business equipment, furnishings, and other personal property used by Tenant in the conduct of its business at the Premises. Provided Tenant diligently proceeds with removal and accomplishes such within the time provided, the Port shall automatically be deemed to have consented to Tenant’s holding over for such period (but only such period). In any event, Tenant shall quit and surrender the Property, together with any remaining improvements or modifications, in good condition and repair, normal wear and tear excepted.
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Port’s Option for Removal of Modifications; Surrender. Not less than one hundred eighty (180) days prior to the expiration of the Term, and not later than thirty (30) days following earlier termination of this Lease, the Port, at is sole election and discretion, may elect to have Lessee: (i) remove all or any portion of the then-existing Alterations to the Buildings or other improvements or modifications on the Premises (except for the Buildings themselves, which the Port acknowledges and agrees Lessee shall be under no obligation to demolish at the expiration or earlier termination of this Lease), at Lessee’s sole cost and expense; or (ii) allow the same to remain on the Premises. The Port may make different elections as to various portions of the improvements or modifications to the Premises. In the event that the Port elects for the removal of any or all of the improvements or modifications to the Premises, Lessee shall diligently complete such removal within not more than sixty (60) days after the later of (a) Lessee’s receipt of the Port’s election, or (b) the expiration of the Term (or Extension Term). The Port grants Lessee a license to use the Premises or portions thereof during the authorized period for Lessee’s removal of improvements pursuant to this Section. Such license shall be subject to Lessee’s indemnification and insurance obligations under Section 11, which shall survive during the license period, unless otherwise modified by written agreement of the parties. In any event, Lessee shall quit and surrender the Premises, together with any remaining improvements or modifications, in the condition in which is received, normal wear and tear excepted.
Sample 1
Port’s Option for Removal of Modifications; Surrender. Prior to the expiration and not later than thirty (30) days following earlier termination of this Agreement, the Port, at is sole election and discretion, may elect to (i) require Tenant to remove all or any portion of the Project (or any of the then existing buildings, infrastructure, or other improvements and/or modifications on the Property) at Tenant’s sole cost and expense or (ii) allow the same to remain on the Property. The Port may make different elections as to various portions of the improvements or modifications to the Property. In the event that the Port elects for the removal of any or all of the improvements or modifications to the Property, Tenant shall diligently complete such removal within not more than sixty (60) days after the later of (a) Tenant’s receipt of the Port’s election, or (b) the expiration of the Term (or Extension Term). The Port grants Tenant a license to use the Premises or portions thereof during the authorized period for Tenant’s removal of improvements pursuant to this Section 17.1. Such license shall be subject to Tenant’s indemnification obligations under Sections 11.1 and 14.9 and Tenant’s insurance obligations under Section 11.2, which shall survive during the license period, unless otherwise modified by written agreement of the parties. In any event, Xxxxxx shall quit and surrender the Property, together with any remaining improvements or modifications, in good condition and repair, normal wear and tear excepted.
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Port’s Option for Removal of Modifications; Surrender 
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Related to Port’s Option for Removal of Modifications; Surrender

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