Common use of POSSESSION AND SURRENDER OF PREMISES Clause in Contracts

POSSESSION AND SURRENDER OF PREMISES. When this Lease terminates, Tenant will remove from the Premises all of its signs, movable trade fixtures and equipment, inventory and other personal property, whether owned by Tenant or its Affiliates ("Tenant's Property"). Tenant's Property remaining more than five (5) business days after delivery of written notice from Landlord after such termination will be deemed abandoned and Landlord may keep, sell, destroy or dispose of it without any Liabilities to Tenant or its Affiliates. Tenant will repair all damage and surrender the Premises broom clean and in good order, condition and repair, reasonable wear and tear, damage by fire and casualty and taking by eminent domain excepted.

Appears in 4 contracts

Samples: Option Agreement (Polycom Inc), Agreement (Picturetel Corp), Lease (Cabletron Systems Inc)

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POSSESSION AND SURRENDER OF PREMISES. When this Lease terminates, Tenant will remove from the Premises all of its signs, movable trade fixtures and equipment, inventory and other personal property, whether owned by Tenant or its Affiliates ("Tenant's Property"). Tenant's Property remaining more than five thirty (530) business days after delivery of written notice from Landlord after such termination will be deemed abandoned and Landlord may keep, sell, destroy sell or dispose of it without any Liabilities to Tenant or its Affiliates, provided that Tenant shall remain liable for any costs associated therewith. Tenant will repair all damage and surrender the Premises broom clean and in good order, condition and repair, reasonable wear and tear, damage by fire and casualty and taking by eminent domain excepted.

Appears in 1 contract

Samples: Lease Agreement (Vtel Corp)

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