Post-Extinguishment Actions Clause Samples

Post-Extinguishment Actions. (a) In the event the Lessee fails to remove its items and properties from the Lease Property or to restore the original condition of the Lease Property by the last day of the Agreement for a reason ascribed to the Lessee, the Lessee shall pay the Lessor in the amount equivalent to 1.5 times the monthly Rent and Maintenance Fee calculated on per diem basis for the period between the last day of the Agreement and the day of the approval of the restoration of the original condition. However, in the event the Lessor suffers any other loss as a result of the delay in the Lessee’s restoration of the original condition and vacating, the Lessee shall indemnify the Lessor for the damages additionally. (b) In the event the Lessee fails to complete the restoration of the original condition and vacating and continues to use/occupy the Lease Property beyond the end of the Agreement, the Lessor may take actions such as discontinuing supply of power and/or water, closing of entry doors, etc., as well as all actions necessary to restore the original condition. In such a case, all losses, expenses and damages incurred in the process shall be the Lessee’s liability.